MONTE CARLO FASHIONS LTD.

Sells branded apparel, footwear and home textiles in India through a network of exclusive brand outlets (EBOs), multi-brand outlets (MBOs) and online channels. The core brand is positioned around winter wear but the portfolio also includes Rock.it (a summer/youth label whose gross sales grew 86% in FY26), footwear (gross sales up 149% YoY, currently sold online and now being expanded to stores), home textiles (~12% of FY26 revenue) and the Cloak & Decker brand (24 EBOs). Distribution covers 497 EBO stores and 1,615 MBO stores as of FY26, with 26 net store additions during the year; 40-45 new EBO openings are planned for FY27. Online is an increasing share of the business — net online sales grew 38% YoY in FY26, with the company selling through its own channels and partnering with Blinkit, Swiggy and Zepto for 30-minute delivery, plus overseas platforms Joom.com and Stylishop.com. A separate business is being built in solar power generation through wholly-owned subsidiary MCFL Energy Projects Private Limited, which has signed a 40 MW PPA at INR 2.79/unit under the PM KUSUM-C Scheme in Madhya Pradesh; the project is expected to generate INR 15-16 cr in annual revenue once commissioned within ~12 months, at a capex of INR 130-140 cr. FY26 revenue mix is roughly summer 42% and winter 45% of sales, reflecting India's tropical-climate tilt. Cost-wise, the largest line is other operating expenses at 20.3% of revenue, followed by employee costs at 11.5%, materials at 8.8% and depreciation at 5.1%; capex was 3.0% of revenue.