FabIndia’s sales increased and its losses decreased during the 2022 fiscal year. It has filed its results with the Registrar of Companies. According to the Economic Times, the brand’s revenue total for the 2022 fiscal year was Rs 1,392 crore with a net loss in the amount of Rs 39 crore.
In the 2022 fiscal, the business’s sales increased by 29% year on year. This represents a reverse of declining sales during the peak of the pandemic. FabIndia posted a net loss in the 2021 fiscal year of Rs 117 crore, and a revenue of Rs 1,081 million.
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“Following the release of Covid pandemic-related restrictions beginning June 2021 and improved customer sentiment further aided with the festive season, expansion of the retail shop portfolio, the trajectory for revenues continued to improve month on month until year-end,” stated FabIndia in a regulatory filing. ET Bureau accessed it. However, relative operating performance was affected for a few weeks in the period January-February 2022 due to temporary restrictions in the wake of the third wave of Covid. But revenues have shown significant improvement and resilience.
FabIndia is currently preparing to launch an initial public offer. Sebi has approved the brand for an IPO of Rs. 4,000 crore.