ARCHIES LTD
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BSE Code:
532212
NSE Code:
ARCHIES
Business Profile
Business Profile
Archies (ARCHIES) was incorporated on May 22, 1990 and converted into a public company on Apr. 7, 1995. It is into the business of manufacturing and selling greeting cards and other social expression products like gifts, jewelry and posters. The chairman and managing director of the company is Anil Moolchandani.
Archies offers combo gifts like rakhi combos, friendship day combos, general gift combos; exclusive gifts like toys and huggables, home tit bits, photo frames, laughing buddhas and home decoratives; just for kids; perfumes; cards like occasion cards, birthday and anniversary cards, ecards etc. The Company offers men?s accessories, which include watches, men?s wallets, necklace sets, perfumes and bracelets. Archies has tie-ups and licensing arrangements for popular merchandising characters like `Dennis the Menace` and Disney characters. It has licensing partnerships with Gibson Greetings (USA), American Greetings (USA) and Portal Publications (USA). It has also formed an alliance with Cadbury India under which it will use its network to retail chocolates and other products of Cadbury. To sell its e-cards, Archies has formed a subsidiary called Archiesonline.com.
ARCHIES raised Rs 199.37 million through preferential allotment of securities in June 2007 to part fund its plan of opening 200 retail stores across the country in three years. The company has established 83 stores in India and will add another 50 to 55 by March 2008 out of the bouquet of 200 in the pipeline. It has galleries for fashion jewelry. Archies has over 2,000 outlets and franchisees called Archies Galleries spread across 120 cities and 6 countries. Archies has its presence in Bangladesh, Sri Lanka and the Gulf Countries.
The registered office of ARCHIES is located at New Delhi, India.
Financials
The company announced a substantial drop in standalone net profit for the quarter ended December 2008. During the quarter, the profit of the company declined 44.73% to Rs 20.57 million from Rs 37.23 million in the same quarter last year. Net sales for the quarter rose 11.01% to Rs 412.78 million, while total income for the quarter rose 10.26% to Rs 413.44 million, when compared with the prior year period. It reported earnings of Rs 3.05 a share during the quarter, registering 44.65% decline over previous year period.
Future Plans
The company is planning to expand its footprint into 18 more cities by opening 120 stores over the next two years at an investment of Rs 2,000 million and also more than double the number of Stupid Cupid brand stores to 15, which houses retail fashion accessories.