Monte Carlo Fashions Ltd. · NSE:MONTECARLO
Monte Carlo Fashions — H1 FY27 Earnings Presentation
34 slides from Monte Carlo Fashions's earnings presentation, Nov 3, 2026
Slide 1: Exchange filing cover letter for investor presentation
CIN - L51494PB2008PLC032059 MONTE CARLOZ It's the way yo make me feel MONTE CARLO FASHIONS LIMITED Regd. Office : B-XXIX-106, G.T. Road, Sherpur, Ludhiana - 141003 (Pb.) India. Tel.: 91-161-5048610, 5048620, 5048630, 5048640 Fax : 91-161-5048650 MCFL/SE/2026-27 November 3, 2026 National Stock Exchan
Slide 2: Earnings Presentation (Q2 & H1 FY27)
November 2026 EARNINGS PRESENTATION (Q2 & H1 FY27) Branded Apparel and Home Textiles NSE: MONTECARLO BSE: 538836 Monte Carlo Fashions Limited
Slide 3: Contents
CONTENTS 01 04 Monte Carlo Today Seasonal Business Model 02 05 Q2 & H1 FY27 Performance Profitable Growth & Capital Discipline 03 06 Business Performance Annexure
Slide 4: CMD's Message: Building on our heritage, broadening our future
CMD'S MESSAGE BUILDING ON OUR HERITAGE, BROADENING OUR FUTURE Monte Carlo has strong roots in winterwear. Over the years, we’ve built on the trust people place in our brand, our textile expertise and our long-standing retail relationships to grow into new categories. Today, our range includes cotton
Slide 5: Monte Carlo Today
MONTE CARLO TODAY MONTE CARLO TODAY Winterwear built the brand. The same brand, retail relationships and textile capabilities now support a wider apparel and home portfolio. 1984 ~55% Brand heritage Cotton share A premium identity rooted in Cotton has been the largest reported knitwear and winterwea
Slide 6: The Monte Carlo Identity
MONTE CARLO TODAY - HERITAGE THE MONTE CARLO IDENTITY Winterwear built Monte Carlo’s premium identity, rooted in Ludhiana’s textile industry 1984 The Monte Carlo brand begins Oswal Woollen Mills brought its textile expertise to branded Premium positioning Textile expertise Retail relationships knitw
Slide 7: Milestones in Monte Carlo's Development
MONTE CARLO TODAY - MILESTONES MILESTONES IN MONTE CARLO’S DEVELOPMENT Brand building, wider customer offers and the formation of the listed company BRAND AND RETAIL FOUNDATIONS 1984 2002 2005 2008 Oswal Woollen mills Portfolio expands into First exclusive Monte Monte Carlo Fashions launches the bra
Slide 8: Monte Carlo's Portfolio: Product-Sales Segments
MONTE CARLO TODAY MONTE CARLO’S PORTFOLIO PRODUCT-SALES SEGMENTS Woollen Cotton Home textiles Kids Footwear Sweaters, pullovers Shirts, T-shirts, thermals, Bedsheets, towels, Clothing for children Shoes and cardigans trousers and jackets track- blankets and quilts suits 15% of portfolio 63% of portf
Slide 9: Monte Carlo's Portfolio: Brands
MONTE CARLO TODAY MONTE CARLO’S PORTFOLIO BRANDS Monte Carlo Rock.it Men & women The athleisure and collections & kids casual clothing Cloak & Decker Luxuria Monte Carlo Home A value-clothing A premium-tier A home textiles line collection (including blankets and quilts) Earnings Presentation (Q2 & H
Slide 10: Product Mix Over Time
MONTE CARLO TODAY - PRODUCT MIX PRODUCT MIX OVER TIME Cotton has contributed about 55% of reported product sales since FY22. The range beyond woollens is well established, rather than a recent change. What the mix shows FY26 28% 55% 10% 6% 1% Cotton remains the largest category. FY24 28% 55% 10% 7%
Slide 11: Q2 FY27 Performance
Q2 & H1 FY27 PERFORMANCE Q2 FY27 PERFORMANCE Revenue, Q2 FY27 Operating EBITDA, Q2 FY27 ₹2,624 Mn ₹284 Mn YoY 5.5% YoY (31.7%) Q2 Revenue, ₹ Mn Q2 EBITDA, ₹415 Mn 2,624 415 2,487 284 1,490 16.70% 10.80% -8.68% PAT, Q2 FY27 Q2 FY26 Q1 FY27 Q2 FY27 Q2 FY26 -129 Q1 FY27 Q2 FY27 ₹12 Mn Earnings Presenta
Slide 12: H1 FY27 Performance
Q2 & H1 FY27 PERFORMANCE H1 FY27 PERFORMANCE The first half includes stock preparation and retailer dispatches ahead of winter. Sales growth, returns and operating margin need to be read together. Revenue, H1 FY27 Operating EBITDA, H1 FY27 NET LOSS, H1 FY27 ₹4,114 Mn ₹154 Mn ₹223 Mn YoY 6.3% YoY (56
Slide 13: Management Updates
Q2 & H1 FY27 PERFORMANCE MANAGEMENT UPDATES Progress against management’s Q1FY27 commentary and stated priorities. How much of the earlier return Online Which quick-commerce Returns effect has reversed? routes are active? availability Sales returns Quick commerce What we said last quarter? What we s
Slide 14: Guidance and Delivery
Q2 & H1 FY27 PERFORMANCE GUIDANCE AND DELIVERY FY26 revenue growth exceeded the guidance range. Operating margin improved by 86 bps, below the 200-bps aspiration, while the measure including other income exceeded 20%. EBITDA margin FY27 Home textiles FY27 Footwear FY27 +200 bps; ~20% 20–25% growth R
Slide 15: Product-Category Performance
BUSINESS PERFORMANCE PRODUCT-CATEGORY PERFORMANCE Cotton contributed 58% of Q2 FY27 gross sales and Woollen 22%. Woollen Cotton Home textiles Kids Footwear H1 FY27 Gross Sales Growth Q2 FY27 21.8% 58.1% 13.0% 5.6% 1.5% • Gross sales grew 13.8% YoY to Q2 FY26 26.8% 52.9% 14.2% 5.5% 0.6% ₹6,274 Mn in
Slide 16: Sales Channels
BUSINESS PERFORMANCE SALES CHANNELS EBOs accounted for 39.4% of sales in Q2 FY27 versus 40.2% in Q2 FY26, while online sales increased to 13.5% from 12.2%. NCS share rose from 8.2% to 13.4%. EBOs at 30 Sep 2026 MBOs at 30 Sep 2026 Q2 FY27 39.4% 11.1% 13.4% 13.5% 17.4% 5.2% 506 1,413 Q2 FY26 40.2% 10
Slide 17: Store Network
BUSINESS PERFORMANCE STORE NETWORK The EBO network grew from 278 in FY20 to 497 in FY26, and seen further growth in H1 FY27. Expanding reach through a growing EBO network, with disciplined closures supporting store productivity and profitable growth. Cloak & Decker EBOs New Store Launches as on Q2 2
Slide 18: Gross-to-Net Sales
BUSINESS PERFORMANCE GROSS-TO-NET SALES Returns and discounts reduce the sales value retained by Monte Carlo. The historical Q2 FY26 bridge shows why dispatch growth must be read alongside net revenue. Gross to net sales, ₹ Mn Gross to net sales, ₹ Mn Returns, % of gross sales 6,298 3836 54% 3,567 5
Slide 19: Regional Sales
BUSINESS PERFORMANCE REGIONAL SALES Quarterly comparison Half-year comparison Region Q2 FY27 Mix Q2 FY26 Mix H1 FY27 Mix H1 FY26 Mix YoY Increase North 45.19% 51.44% 45.94% 50.62% 3.25% East 22.39% 19.57% 23.08% 20.40% 28.77% Central 9.19% 8.48% 9.13% 8.59% 20.98% West 4.87% 4.17% 4.61% 4.19% 25.07%
Slide 20: EBO Network
BUSINESS PERFORMANCE EBO NETWORK J&K 1 LA 14 HP 15 West and South EBOs PB 58 UK CH 3 SK West 30 South 26 at Jun-26 48 9 DL (Sep-26: 30 / 26) HR 32 1 RJ 1 AP UP 62 64 AS 6 BR 63 MN New Store Additions – Q2 FY27 JH 1 WB 1 14 MP 16 COCO: North (1) East (1), 19 24 GJ 4 COFO: North (1), CG 8 OD TR MH 15
Slide 21: Seasonality
SEASONAL BUSINESS MODEL SEASONALITY Q3 accounted for 47% of FY26 revenue, compared with 45% in FY25. Winter remains central to the business, contributing nearly half of annual revenue Q1 Q2 Q3 Q4 Q3 share of year A M J J A S O N D J F M 56% Winter season Order booking 45% 45% 47% Production / stock
Slide 22: Working Capital
SEASONAL BUSINESS MODEL WORKING CAPITAL Reported working-capital days fell from 176 in FY25 to 146 in FY26. Reported working-capital days (year-end) 169 176 158 146 FY23 FY24 FY25 FY26 Improved working-capital efficiency FY26 year-end working-capital days improved meaningfully, reversing the increas
Slide 23: Store Profitability
PROFITABLE GROWTH & CAPITAL DISCIPLINE STORE PROFITABILITY Continued EBO expansion through FY26 with a recovery in gross revenue per store. EBO network expansion The EBO network expanded to 497 stores in FY26, up 5.5% YoY and 22.4% versus FY24. Recovery in revenue per store Annual weighted average g
Slide 24: Capital Allocation
PROFITABLE GROWTH & CAPITAL DISCIPLINE CAPITAL ALLOCATION Net debt increased to ₹3,020 Mn, reflecting the seasonal working capital build-up, and is expected to moderate as H2 collections improve. Net debt excl. leases, ₹ Mn 01 Capex ~₹331.6 Mn for H1, 02 Solar SPV (Subsidiary) primarily towards ~₹1,
Slide 25: Financial Track Record
PROFITABLE GROWTH & CAPITAL DISCIPLINE FINANCIAL TRACK RECORD FY26 revenue reached ₹12,759 Mn, 76% above FY20, while operating EBITDA margin recovered to 17.8%. PAT increased to ₹1,121 Mn but remained below the FY23 peak of ₹1,325 Mn Revenue, ₹ Mn (rounded) EBITDA, ₹ Mn (margin) PAT, ₹ Mn ROCE and R
Slide 26: Annexure
ANNEXURE
Slide 27: Product-Category Sales Mix – Q2 FY27
ANNEXURE PRODUCT-CATEGORY SALES MIX – Q2 FY27 Sales value Sales share Sales value Sales share Units sold Units sold Product category (Q2 FY27) (Q2 FY27) (Q2 FY26) (Q2 FY26) (Q2 FY27) (Q2 FY26) ₹ Mn % ₹ Mn % (in ‘000) (in ‘000) Woollen 834.1 21.8% 952.0 26.8% 437 506 Cotton 2,220.8 58.1% 1,878.5 52.9
Slide 28: Product-Category Sales Mix – H1 FY27
ANNEXURE PRODUCT-CATEGORY SALES MIX – H1 FY27 Sales value Sales share Sales value Sales share Units sold Units sold Product category (H1 FY27) (H1 FY27) (H1 FY26) (H1 FY26) (H1 FY27) (H1 FY26) ₹ Mn % ₹ Mn % (in ‘000) (in ‘000) Woollen 940.4 15.0% 1,062.4 19.3% 503 577 Cotton 3,979.5 63.4% 3,266.7 59
Slide 29: Brand and Collection Sales Mix – Q2 & H1 FY27
ANNEXURE BRAND AND COLLECTION SALES MIX – Q2 & H1 FY27 Sales Sales Sales Sales Sales value Sales share Sales value Sales share value share value share Brand / collection (Q2 FY27) (Q2 FY27) (Q2 FY26) (Q2 FY26) (H1 FY27) (H1 FY27) (H1 FY26) (H1 FY26) ₹ Mn % ₹ Mn % ₹ Mn % ₹ Mn % 1. Monte Carlo 3,007.9
Slide 30: Consolidated Profit and Loss
ANNEXURE CONSOLIDATED PROFIT AND LOSS ₹ Mn Q2 FY27 Q2 FY26 YoY Q1 FY27 QoQ H1 FY27 H1 FY26 YoY Revenue 2,624.0 2,487.0 5.5% 1,490.4 76.1% 4,114.4 3,872.3 6.3% Gross margin 49.4% 54.4% (498 bps) 49.2% 19 bps 49.4% 54.2% (483 bps) EBITDA 283.5 415.3 (31.7%) (129.3) 154.2 356.6 (56.8%) EBITDA margin 10
Slide 31: Balance Sheet
ANNEXURE BALANCE SHEET Inventory and receivables stood at ₹12,402 Mn, reflecting the working capital build-up ahead of the key winter season. ₹ Mn Sep-26 Sep-25 Mar-26 ₹ Mn Sep-26 Sep-25 Mar-26 Total equity 8,836 8,340 9,059 PP&E, ROU, CWIP 4,339 3,865 4,129 Investments 2,570 2,467 2,521 Short-term
Slide 32: Cash Flow
ANNEXURE CASH FLOW H1 FY27 operating cash outflow of ₹2,068 Mn was largely driven by a ₹1,725 Mn inventory build, reflecting the seasonal working capital cycle. ₹ Mn H1 FY27 H1 FY26 ₹ Mn H1 FY27 H1 FY26 Profit before tax (302.5) 2.1 Capex (net) (298.4) (77.6) Depreciation & other non-cash 467.2 362.
Slide 33: Definitions and Contacts
ANNEXURE DEFINITIONS AND CONTACTS Definitions Investor relations Operating EBITDA: excludes other income. Ankur Gauba Product mix: gross sales by Woollen, Cotton, Home textiles, Company Secretary Kids and Footwear. Brands, channels and seasonal splits are [email protected] separate vi
Slide 34: Thank You
MONTE CARLO AX | THANK YOU