Any current/future new fundraising through debt or equity?

As of May 19, 2026, Monte Carlo Fashions Limited has no specific mention of immediate plans for new fundraising through debt or equity in the provided transcript. For the solar project, the company plans a capex of around INR 130-140 crores, to be financed with approximately 75% debt and 25% equity. Final details on debt are to be finalized in the next 7 to 10 days. The company is also exploring good projects in Battery Energy Storage Systems (BESS) and solar, but will only invest in projects with an IRR above 15-17%. Cash surplus is currently used to pay dividends (INR 20 declared for the yea

Any current/future capex/capital investment/strategic investment?

Monte Carlo Fashions Limited plans normal annual capex of INR 10-15 crores primarily for manufacturing facility expansion, which is stable and not exceeding this range. The company prefers outsourcing production, with 85% production outsourced from vendors across India. A 40-45% store expansion is targeted this financial year, with about 40-50 new exclusive brand outlets (EBOs) planned. The company is investing in renewable energy projects, specifically a 35 MW (expandable to 43-45 MW with overloading) solar power plant with a capex of INR 130-140 crores; project IRR targeted at 15-16%. The so

Future growth expectations in sales/revenue/volumes?

The company expects double-digit growth in the current financial year (FY27) compared to the last year. Volume growth was around 12% annually, with quarterly volume growth estimated between 18%-20%. Revenue growth drivers include increased sales in summer wear categories, which are growing faster than winter wear. The summer wear segment is expected to continue expanding due to India's predominantly tropical climate and longer summer season. Accessories and footwear portfolios are also consciously being expanded, with footwear turnover targeted to double from its current small base.

Future growth expectations in earnings/operating earnings/profits/EPS?

Monte Carlo Fashions expects double-digit growth in FY27, with confidence higher than the previous year. The company aims for an EBITDA margin around 20%, including other income, consistent with FY26 levels. Gross sales for the Rock.it brand grew 86% and are expected to continue contributing significantly. Footwear division plans to double turnover, driven primarily by online channels and selected large-format stores. Home textile segment expected to contribute 13%-14% of overall revenue in FY27, up from 12% last year. Revenue growth is driven by expansion in summer wear (which grows

Current/ Expected Orderbook/ Pending Orders?

The management mentioned having a strong order book for the winter season as of May 19, 2026. Some areas of the winter booking were still open and expected to be updated in the next quarter call. The growth expectations for FY27 are optimistic with double-digit growth expected, though exact guidance will be provided in the Q2 call. The company is confident about growth and has adequate inventory levels at channel and store partners. However, there are geopolitical concerns and inflation risks that could affect consumer spending and order books. Overall, the order book situation appea

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Monte Carlo Fashions LtdQ1 FY26Textiles & Apparels

Monte Carlo Fashions Ltd Q1 FY26 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹551P/E: 12.4Market Cap: ₹1.2K CrSector: Textiles & Apparels

Management growth scorecard

Revenue

Category 3

Margin

Category 3

Fundraise

Yes

Order

Yes

Capex

Yes

3 of 5 growth signals are positive.

Full analysis

Revenue guidance

Category 3

→The company expects double-digit growth in the current financial year (FY27) compared to the last year.
→Volume growth was around 12% annually, with quarterly volume growth estimated between 18%-20%.
→Revenue growth drivers include increased sales in summer wear categories, which are growing faster than winter wear.
→The summer wear segment is expected to continue expanding due to India's predominantly tropical climate and longer summer season.
→Accessories and footwear portfolios are also consciously being expanded, with footwear turnover targeted to double from its current small base.
→Home textile segment revenue contribution is expected to grow from 12% to 13%-14% of overall revenue in FY27.
→The company plans to open 40-45 new Exclusive Brand Outlets (EBOs) in FY27, supporting retail footprint expansion.
→Online sales continue strong with a 38% growth compared to FY25, supported by partnerships with quick commerce platforms.
→The company remains cautiously optimistic despite macroeconomic headwinds like inflation and geopolitical tensions.

Margin guidance

Category 3

→Monte Carlo Fashions expects double-digit growth in FY27, with confidence higher than the previous year.
→The company aims for an EBITDA margin around 20%, including other income, consistent with FY26 levels.
→Gross sales for the Rock.it brand grew 86% and are expected to continue contributing significantly.
→Footwear division plans to double turnover, driven primarily by online channels and selected large-format stores.
→Home textile segment expected to contribute 13%-14% of overall revenue in FY27, up from 12% last year.
→Revenue growth is driven by expansion in summer wear (which grows faster than winter wear), accessories, and footware.
→The company plans to continue expanding its Exclusive Brand Outlets (EBOs) by opening 40-50 new stores annually.
→Raw material price hikes are immediately passed on, protecting margins.
→Potential headwinds include macroeconomic factors like inflation and geopolitical tensions but no major internal concerns reported.

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Fundraise plans

Yes

→As of May 19, 2026, Monte Carlo Fashions Limited has no specific mention of immediate plans for new fundraising through debt or equity in the provided transcript.
→For the solar project, the company plans a capex of around INR 130-140 crores, to be financed with approximately 75% debt and 25% equity. Final details on debt are to be finalized in the next 7 to 10 days.
→The company is also exploring good projects in Battery Energy Storage Systems (BESS) and solar, but will only invest in projects with an IRR above 15-17%.
→Cash surplus is currently used to pay dividends (INR 20 declared for the year) and for potential investments in energy projects.
→No explicit mention of plans for a public fundraise or buyback was recorded, but a suggestion for buyback was noted and to be taken to the board.

Order book

Yes

→The management mentioned having a strong order book for the winter season as of May 19, 2026.
→Some areas of the winter booking were still open and expected to be updated in the next quarter call.
→The growth expectations for FY27 are optimistic with double-digit growth expected, though exact guidance will be provided in the Q2 call.
→The company is confident about growth and has adequate inventory levels at channel and store partners.
→However, there are geopolitical concerns and inflation risks that could affect consumer spending and order books.
→Overall, the order book situation appears robust but cautious with guidance to be detailed in future calls.

Capex plans

Yes

→Monte Carlo Fashions Limited plans normal annual capex of INR 10-15 crores primarily for manufacturing facility expansion, which is stable and not exceeding this range.
→The company prefers outsourcing production, with 85% production outsourced from vendors across India.
→A 40-45% store expansion is targeted this financial year, with about 40-50 new exclusive brand outlets (EBOs) planned.
→The company is investing in renewable energy projects, specifically a 35 MW (expandable to 43-45 MW with overloading) solar power plant with a capex of INR 130-140 crores; project IRR targeted at 15-16%.
→The solar project will be financed with approximately 75% debt and 25% equity.
→Monte Carlo is exploring additional Integrated Power Producer (IPP) projects in Battery Energy Storage Systems (BESS) and solar, contingent on achieving a good IRR of 15-17%.
→Surplus cash is partly planned to be used in renewable energy and BESS projects.

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