Mandhana Retail Q4 sales drop 13 percent to Rs 49 crore

By

Maverick Martins

Published
May 31, 2019

Mandhana Retail Ventures Ltd which holds licences to manufacture and sell Salman Khan's Being Human brand of clothing and fashion accessories witnessed a drop in sales by 13 percent to Rs 49 crore ($7.1 million) for the fourth quarter. The company had reported sales of Rs 57 crore during the corresponding quarter last fiscal.
 

Poor sales during the January-March period also resulted in a net loss of Rs 1.40 crore as against Rs 0.43 crore it had reported in March 2018.
 
Mandhana Retail’s EBITDA for the quarter also dropped by 64 percent to Rs 0.91 crore from Rs 2.53 crore in reported in the year-ago period.

The company is hoping to revive its fortunes this fiscal and will be expanding rapidly during the current financial year especially in tier 2 and tier 3 markets. It will open as many as 20 new Being Human stores across the country.
 
Mandhana Retail Ventures Limited had collaborated with Bollywood actor Salman Khan to launch Being Human brand was launched in 2012.
 
Being Human currently has 63 exclusive brand outlets, 204 shop-in-shops (SIS) and 61multi brand outlets (MBOs) across the country.