---
title: "TCNS Clothing Co. Ltd(Merged) (TCNSBRANDS) — Share Price, Financials & Analysis"
symbol: "TCNSBRANDS"
company: "TCNS Clothing Co. Ltd(Merged)"
canonical: "https://tapetide.com/stocks/TCNSBRANDS"
sector: "Consumer Discretionary"
industry: "Textiles & Apparels"
generated_at: "2026-09-13T19:52:43.940Z"
---

# TCNS Clothing Co. Ltd(Merged) (TCNSBRANDS)

Canonical page: https://tapetide.com/stocks/TCNSBRANDS

## Company

- **Sector:** Consumer Discretionary
- **Industry:** Textiles & Apparels
- **Macro Sector:** Consumer Discretionary
- **Stock Type:** DELISTED
- **Listed Since:** 2018-07-30
- **Face Value:** ₹2
- **F&O Eligible:** No
- **Website:** wforwoman.com

## About

TCNS Clothing Co. Ltd, incorporated in 1997 is a leading exclusive women’s ethnic/fusion apparel company providing fashion in a modern retail environment. It combines fashion and functionality according to the needs of contemporary Indian women need. [1]

## Latest Price

## Key Insights

### Strengths

- Company's working capital requirements have reduced from 85.5 days to 17.4 days

### Weaknesses

- Stock is trading at 12.2 times its book value
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -3.52% over past five years.
- Company has a low return on equity of -18.7% over last 3 years.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | -447% | — | — |
| revenue growth | -21% | 15% | -4% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 239 | 329 | 234 | 276 | 351 | 306 | 269 | 244 | 226 | 278 | 211 | 206 |
| Expenses | 209 | 265 | 215 | 245 | 304 | 266 | 260 | 254 | 353 | 288 | 249 | 246 |
| Operating Profit | 30 | 63 | 20 | 31 | 46 | 40 | 8 | -10 | -127 | -10 | -38 | -40 |
| OPM % | 13 | 19 | 8 | 11 | 13 | 13 | 3.1 | -4.2 | -56 | -3.5 | -18 | -19 |
| Other Income | 15 | 5 | 12 | 7 | 2 | 4 | 4 | 5 | 2 | 2 | 4 | 4 |
| Interest | 9 | 9 | 11 | 10 | 11 | 13 | 18 | 14 | 19 | 18 | 20 | 16 |
| Depreciation | 22 | 23 | 29 | 26 | 27 | 29 | 39 | 29 | 33 | 31 | 31 | 27 |
| Profit before tax | 14 | 35 | -8 | 3 | 10 | 1 | -45 | -49 | -177 | -57 | -84 | -80 |
| Tax % | 22 | 29 | -24 | 6 | 24 | 29 | -37 | -25 | -23 | -9 | -24 | -25 |
| Net Profit | 11 | 25 | -6 | 2 | 8 | 0 | -28 | -37 | -136 | -52 | -64 | -60 |
| EPS in Rs | 1.8 | 4.07 | -0.94 | 0.4 | 1.24 | 0.08 | -4.56 | -5.85 | -21.57 | -8.17 | -10.05 | -9.44 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 485 | 701 | 997 | 1148 | 1149 | 636 | 896 | 1202 | 960 | 922 |
| Expenses | 489 | 623 | 841 | 971 | 962 | 633 | 806 | 1076 | 1144 | 1136 |
| Operating Profit | -3 | 78 | 156 | 177 | 186 | 2 | 90 | 126 | -185 | -214 |
| OPM % | -0.7 | 11 | 16 | 15 | 16 | 0.4 | 10 | 10 | -19 | -23 |
| Other Income | 1 | 0 | 6 | 8 | 21 | 49 | 35 | 16 | 13 | 12 |
| Interest | 3 | 2 | 1 | 1 | 38 | 36 | 37 | 52 | 71 | 73 |
| Depreciation | 9 | 13 | 17 | 22 | 103 | 92 | 94 | 121 | 125 | 122 |
| Profit before tax | -14 | 62 | 145 | 162 | 66 | -77 | -7 | -31 | -368 | -398 |
| Tax % | 204 | 75 | 32 | 19 | -5 | -27 | -21 | -44 | -21 | — |
| Net Profit | -42 | 16 | 98 | 131 | 69 | -56 | -6 | -18 | -289 | -311 |
| EPS in Rs | -4.53 | 1.42 | 17.39 | 21.44 | 11.29 | -9.17 | -0.93 | -2.84 | -45.58 | -49.23 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 9 | 9 | 11 | 11 | 12 | 12 | 12 | 12 | 12 | 13 |
| Reserves | 100 | 39 | 271 | 420 | 606 | 648 | 600 | 608 | 599 | 291 |
| Borrowings | 41 | 38 | 9 | 0 | 0 | 362 | 330 | 413 | 547 | 607 |
| Other Liabilities | 64 | 222 | 135 | 165 | 167 | 176 | 132 | 228 | 328 | 374 |
| Total Liabilities | 214 | 309 | 426 | 597 | 786 | 1198 | 1074 | 1261 | 1486 | 1285 |
| Fixed Assets | 21 | 39 | 47 | 52 | 59 | 352 | 301 | 403 | 520 | 472 |
| CWIP | 0 | 0 | 3 | 8 | 0 | 2 | 1 | 2 | 0 | 0 |
| Investments | 1 | 1 | 2 | 2 | 138 | 118 | 172 | 146 | 2 | 0 |
| Other Assets | 192 | 268 | 374 | 535 | 589 | 726 | 600 | 710 | 965 | 812 |
| Total Assets | 214 | 309 | 426 | 597 | 786 | 1198 | 1074 | 1261 | 1486 | 1285 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | — | — | — | 41 | 90 | 131 | 113 | 104 | 0 | 47 |
| Cash from Investing Activity | — | — | — | -28 | -143 | -3 | -56 | 2 | 109 | -15 |
| Cash from Financing Activity | — | — | — | 21 | 38 | -97 | -96 | -109 | -96 | -53 |
| Net Cash Flow | — | — | — | 35 | -15 | 31 | -38 | -4 | 12 | -21 |
| Free Cash Flow | — | — | — | 14 | 66 | 99 | 103 | 72 | -38 | 30 |
| CFO/OP | — | — | — | 55 | 69 | 85 | 3262 | 116 | -6 | -26 |

### Ratios

| Item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 79 | 48 | 52 | 57 | 57 | 56 | 95 | 71 | 78 | 56 |
| Inventory Days | 456 | 482 | 535 | 239 | 257 | 300 | 373 | 426 | 451 | 401 |
| Days Payable | 232 | 297 | 301 | 122 | 108 | 111 | 122 | 202 | 237 | 286 |
| Cash Conversion Cycle | 303 | 233 | 285 | 174 | 206 | 244 | 345 | 294 | 292 | 171 |
| Working Capital Days | 87 | 54 | 82 | 96 | 103 | 102 | 167 | 122 | 117 | 17 |
| ROCE % | — | -8 | 35 | 41 | 31 | 13 | -4 | 3 | 2 | -29 |

## Shareholding Pattern

### annual

| Category | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Jun 2024 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 32.41% | 32.33% | 32.31% | 32.26% | 32.2% | 52.01% | 52.01% |
| FIIs | 11.99% | 12.23% | 19.52% | 17.01% | 16.68% | 4.57% | 4.46% |
| DIIs | 8.97% | 10.63% | 4.36% | 7.23% | 3.66% | 1.75% | 2.15% |
| Public | 46.62% | 44.8% | 43.81% | 43.5% | 47.45% | 41.67% | 41.39% |
| No. of Shareholders | 19115 | 17599 | 15214 | 16246 | 20463 | 23429 | 18041 |

### Quarterly

| Category | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 32.3% | 32.28% | 32.26% | 32.25% | 32.25% | 32.21% | 32.2% | 31.47% | 61.05% | 52.06% | 52.01% | 52.01% |
| FIIs | 17.86% | 17.63% | 17.01% | 16.7% | 16.82% | 16.84% | 16.68% | 12.2% | 5.32% | 5.03% | 4.57% | 4.46% |
| DIIs | 6.13% | 6.57% | 7.23% | 7.15% | 5.02% | 4.5% | 3.66% | 4.94% | 2.53% | 1.75% | 1.75% | 2.15% |
| Public | 43.72% | 43.52% | 43.5% | 43.89% | 45.92% | 46.45% | 47.45% | 51.38% | 31.09% | 41.16% | 41.67% | 41.39% |
| No. of Shareholders | 15265 | 16076 | 16246 | 18894 | 19438 | 20480 | 20463 | 22168 | 25024 | 23064 | 23429 | 18041 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 11 / 6 / 2

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 569.98 | Buy |
| EMA (10) | 573.49 | Buy |
| SMA (20) | 577.21 | Buy |
| EMA (20) | 569.59 | Buy |
| SMA (50) | 552.47 | Buy |
| EMA (50) | 543.74 | Buy |
| SMA (100) | 479.13 | Buy |
| EMA (100) | 503.24 | Buy |
| SMA (200) | 433.19 | Buy |
| EMA (200) | 476.45 | Buy |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 58.76 | Neutral |
| MACD (12,26,9) | 7.16 | Sell |
| Stochastic (14,3,3) | 48.5 | Neutral |
| ADX (14) | 8.71 | Neutral |
| Williams %R (14) | -37.99 | Neutral |
| ATR (14) | 20.37 | High Volatility |
| ROC (12) | 1.39 | Buy |
| Stoch RSI (14) | 100 | Sell |
| UO (7,14,28) | 47.03 | Neutral |

## Filings & Documents

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Nov 2022 | [Concall - Nov 2022](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c6e85ef8-7dd2-4d1e-9dfc-2c566bd651c1.pdf) |
| Nov 2022 | [Concall - Nov 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c6e85ef8-7dd2-4d1e-9dfc-2c566bd651c1.pdf) |
| May 2022 | [Concall - May 2022](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c2dfc113-d766-4e41-8bc2-111dc2223b3b.pdf) |
| May 2022 | [Concall - May 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c2dfc113-d766-4e41-8bc2-111dc2223b3b.pdf) |
| Jun 2023 | [Concall - Jun 2023](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=00a20fc0-968a-479d-9c6b-24caa7538704.pdf) |
| Jun 2023 | [Concall - Jun 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/00a20fc0-968a-479d-9c6b-24caa7538704.pdf) |
| Jun 2021 | [Concall - Jun 2021](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=88da473b-a3a9-40d1-bb16-914601d6153d.pdf) |
| Jun 2021 | [Concall - Jun 2021](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=03313b3e-1897-4da1-9b07-a79885b0bb64.pdf) |
| Jun 2021 | [Concall - Jun 2021](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ed7e1f47-52d6-4493-b67e-f8e3c527db74.pdf) |
| Jun 2021 | [Concall - Jun 2021](https://www.bseindia.com/xml-data/corpfiling/AttachHis/88da473b-a3a9-40d1-bb16-914601d6153d.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Annual Report 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/94126df2-489c-421b-aa55-a50ca433f5ff.pdf) |
| from bse | [Annual Report 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/541700/74617541700.pdf) |
| from bse | [Annual Report 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/541700/69685541700.pdf) |
| from bse | [Annual Report 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/541700/65348541700.pdf) |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/541700/5417000319.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T19:52:43.940Z.