Highlights from the management interaction
* A 4-5% price increase was taken in 4QFY21, which is slightly higher than usual, to combat the steep increase in yarn prices.
* It expects revenue in 1QFY21 to be affected by the ongoing lockdowns as most stores remain closed.
* The management has maintained its 21-22% EBITDA margin guidance.
* The company had 930 EBOs at the end of FY21, with ~180 new additions, including 38 exclusive outlets for Jockey Junior.
* Inventory of finished goods was much lower than usual due to strongerthan-expected demand in 4QFY21. Hence, end of period inventory days of 71 in FY21 may not be sustainable.