ICRA had upgraded its long-term rating on the bank facilities of the Cantabil Retail India to ‘[ICRA] A- (Stable)’ from ‘[ICRA] BBB+.’ The credit rating agency has also revised the short term rating to "[ICRA] A2+ from "[ICRA] A2.
Vijay Bansal, (Chairman & Managing Director) of Cantabil Retail India, says, the company has been consistent in paying all the dues and interests on time. It has also repaid entire long term loan as of 31stMarch 2022 and are a debt free company now.
Cantabil Retail India is engaged in the designing, manufacturing, branding and retailing of apparel and apparel accessories for men, ladies and children in the middle to high income segment through a pan-India network of exclusive brand outlets under the brand names ‘Cantabil,’ ‘Kaneston,’ ‘Crozo'’ and ‘Lil Potatoes.’
The company's net profit rose 11.54 per cent to Rs 8.12 crore on a 43.59 per cent increase in sales to Rs 133.29 crore in Q4 FY22 over Q4 FY21.