Upcoming 1:10 Stock Split: Textile Stock Posts Stellar Q2 PAT Growth By 4575% YoY

Mittal Life Style Ltd., a prominent Mumbai-based trading house specializing in Denim and Bottom Weight Fabrics, in its board meeting, has approved the unaudited Financial Results of the Company for the quarter and half year ended on 30 September 2023.

Standalone Financial Performance Comparison - Q2FY24 v/s Q2FY23

• Revenue from Operations grew by 29.76% from Rs. 1655.35 Lakhs in Q2FY23 to Rs. 2147.98 Lakhs in Q2FY24.
• EBITDA increased by 437.91% from Rs. 1.82 Lakhs in Q2FY23 to Rs. 9.79 Lakhs in Q2FY24
• EBITDA margins increased from 0.11% in Q2FY23 to 0.46% in Q2FY24 by 35 bps.
• PAT increased by 4575 % from Rs. 0.20 Lakhs in Q2FY23 to Rs. 9.35 Lakhs in Q2FY24.
• PAT margins increased from 0.01% in Q2FY23 to 0.44% in Q2FY24 by 43 bps.

Standalone Financial Performance Comparison - H1FY24 v/s H1FY23

• Revenue from Operations grew by 12.19% from Rs. 3197.83 Lakhs in H1FY23 to Rs. 3687.74 Lakhs in H1FY24.
• PAT increased by 2832 % from Rs. 1.50 Lakhs in H1FY23 to Rs. 43.98 Lakhs in H1FY24.
• PAT margins increased from 0.04% in H1FY23 to 1.19% in H1FY24 by 115 bps

Mittal Life Style Limited has also declared a stock split in a 1:10 ratio for which the record date is falling next week. "In terms of Regulation 42 and other applicable Regulations of the Securities & Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Wednesday, November 01, 2023 as the 'Record Date' for the purpose of determining the eligibility of shareholders for sub-division/split of every 1 (One) fully paid-up Equity Share having face value of Rs. 10/- each, into 10 (Ten) fully paid-up Equity Shares of face value of Re. 1/- each, in the share capital of the Company as approved by the members at the 18th Annual General Meeting of the Company held on September 30, 2023," said the Board of Directors of Mittal Life Style in a stock exchange filing.

Founded in 2005, Mittal Life Style is a Mumbai-based trading house specializing in Denim and Bottom Weight Fabrics, serving the textile industry. With an extensive product portfolio encompassing Fashion Fabrics, Cotton Canvas Denims, Dupion Bottom Fabrics, Polyester Fabrics, Cotton Fabric, Knit Fabrics, and more, Mittal Life Style consistently produces high-quality textiles for the domestic market.

Mittal Life Style has earned the trust and respect of a wide range of clients through its wealth of experience and deep understanding of the market. It is dedicated to ensuring complete customer satisfaction, which includes superior quality, performance, competitive pricing, and timely delivery.

The company has garnered a strong reputation as one of the most reliable sources of Denim and bottom-weight fabrics in India. Mittal Life Style is committed to providing top-notch products that meet each customer's unique preferences and tastes. The company possesses the capacity to source an array of fabrics from various corners of India and aspires to set new industry trends with its unmatched expertise.

Quality assurance is an intrinsic component of Mittal Life Style's operational ethos. Its rigorous adherence to stringent quality control measures has contributed significantly to building a solid brand image for its products. Mittal Life Style Ltd. is listed on NSE (NSE SYMBOL: MITTAL).

On Monday, the shares of Mittal Life Style were trading on the NSE at Rs 18 apiece. The scrip made a 52-week-high of Rs 18.50 on (18-Oct-2023) and a 52-week-low of Rs 6.90 on (28-Mar-2023).