Credo Brands Marketing Limited — Updates, 31-01-2025: Press Release

Credo Brands Marketing Limited (MUFTI) reported Q3 FY25 results, reflecting resilience amid subdued demand in the branded apparel market. Revenue reached ₹155.5 crore, up 4% year-on-year, while nine-month revenues climbed to ₹465 crore, a 7% increase. Gross profit surged 8% to ₹96.3 crore, elevating the gross margin to 61.9%, up 210 basis points. EBITDA extended 12% to ₹47.6 crore, with a margin of 30.6%. PAT rose 17% to ₹18.3 crore, with a margin of 11.8%.

The company added 27 new exclusive brand outlets (EBOs), bringing the total to 435 across 243 cities. Notably, working capital days declined by 10 days, indicating improved operational efficiency. The shift towards direct-to-consumer channels successfully generated ₹8.64 crore in revenue for 9M FY25, a significant rise from ₹3.62 crore in the prior year. The asset-light operational model and positive cash flow underpin a strong outlook, enhancing investor confidence in sustainable growth amidst market challenges.