High Promoters Holding Stock Iris Clothing To Expand India's Kidswear Market; 180% Gain In 3 Years

Iris Clothings announced the inauguration of two new Exclusive Brand Outlets (EBOs) located in thriving malls in Kolkata and Siliguri in West Bengal. There are 15 more EBOs being planned in different locations across the country during the fiscal year of 2025.

The mission of the organization is to enrich the collection of brands and expand product offerings for the greater choice of their customers. Equally, it winds in both the present and prospective shareholders by providing opportunities for investment. The organization believes in fostering relationships with customers so that it can create an impact on customers with new product lines and innovation.

Apart from opening outlets in different parts of the country, Iris has entered into a licensed agreement with Disney to design and launch apparel using Marvel and Disney movie characters under the DOREME brand. This brand has a good presence in 26 states in India including Maharashtra, Rajasthan and Gujarat. The conception of the product mix will help meet the demand for their products. It will create an atmosphere for opening further avenues and growth. However, the company's manufacturing infrastructure includes nine units, seven of which have state-of-the -art facilities. It produces tops, t-shirts, trousers, sweatshirts, hoodies etc with a product range between Rs 200 and Rs 2000.

According to a recent survey, the Indian kid apparel market is expected to grow at 9.1 % CAGR between the financial year 2000-2025. The target is projected at 1.56 trillion and children represent about 25-26% of the Indian population which definitely suggests a huge customer base.

Recently, the company announced financial results, where the net profit of Iris Clothings rose 56.50% to Rs 3.49 crore in the quarter ended March 2024 as against Rs 2.23 crore during the previous quarter ended March 2023. Sales rose 12.05% to Rs 42.12 crore in the quarter ended March 2024 as against Rs 37.59 crore during the previous quarter ended March 2023.

For the full year, net profit rose 47.82% to Rs 12.21 crore in the year ended March 2024 as against Rs 8.26 crore during the previous year ended March 2023. Sales rose 7.89% to Rs 121.92 crore in the year ended March 2024 as against Rs 113.00 crore during the previous year ended March 2023.

Iris Clothing Limited is a fast-growing readymade garment company with different types of designed garments tailormade for kids. The organization itself is engaged in designing, manufacturing, branding and selling garments for kids to wear under the brand name DOREME in India.

Their speciality is in designing and making different kinds of apparel for infants, toddlers and junior boys and girls. However, the brand consciousness among the customers makes the organization and its position in the market something special.

Iris Clothings is among the high promoters holding stock with a promoter's stake of 70.94% in the March 2024 quarter. It touched a 52-week-high of Rs 485.95 on (24-Jul-2023) and a 52-week-low of Rs 66.20 on (05-Jun-2024).