Archies Greetings & Gifts Ltd's profits dropped in the 1QFY01 to Rs 17 m. The margins of the company declined to 24.5% (from 25.6% in 1QFY00) due to 53% increase in the staff cost.
Operating Profit (EBDIT)
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No. of Shares (eoy) (m)
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The company is in the process of implementing a complete change in distribution and retail network. It has added 14 franchisees during the quarter taking the total to 447. It has also entered into e-commerce activities through its subsidiary and has launched a vertical portal for online shopping.
At the current market price of Rs 240, Archies is trading at a P/E multiple of 23 times its 1QFY01 annualised earnings. Its 52 week P/E range was 25-75 times.
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