Now Reading: Meenakshi India may miss FY30 revenue target by up to a year
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Meenakshi India may miss FY30 revenue target by up to a year
Meenakshi India may miss its FY30 revenue target of Rs 450-500 crore by six months to a year, Chairperson and Managing Director Ashutosh Goenka told The Hindu. The Chennai-based apparel maker reported…
The Story in Brief
Meenakshi India may miss its FY30 revenue target of Rs 450-500 crore by six months to a year, Chairperson and Managing Director Ashutosh Goenka told The Hindu. The Chennai-based apparel maker reported FY26 revenue of Rs 150.76 crore, down 9.36% from the previous year. Profit after tax fell 73.25% to Rs 10.46 crore, while operational EBITDA dropped 65.44% to Rs 10.20 crore.
Goenka blamed US tariffs, weaker retail demand in the US and Europe, and customer discounts. The company is executing a Rs 40-crore expansion in stages, aiming to raise annual capacity from 18 lakh to 35 lakh garments. It may reduce the plan if trade conditions worsen. Meenakshi India employs about 1,700 people.
The Indian Opinion
The easy story is either that tariffs alone caused the downturn or that a delayed target signals a failed business. Neither fits the numbers. Revenue, profit and EBITDA all fell sharply, while demand and discounting also hurt results. Capacity expansion should therefore match confirmed orders, not an optimistic forecast. The useful test is whether quarterly revenue and margins recover before the company commits the full Rs 40 crore.
Source: thehindu.com
This story was synthesised by AI from the source linked above.
