THOMAS SCOTT

Thomas Scott (India) Ltd. (cmp 350); Flagship brand presence on Myntra, Ajio, and offline retail) is a premium apparel company specializing in semi-formal, business casual, and luxury shirts for men. Headquartered in Mumbai, the brand operates under the umbrella of Bang Overseas Ltd., with a focus on high-quality fabrics, contemporary fits, and affordable luxury positioning. The company has built a strong retail footprint across Tier 1 and Tier 2 cities, supported by e-commerce partnerships and seasonal fashion drops. Its collections include chinos, cargos, jeans, and cotton shirts, catering to the mid-premium segment of India’s growing fashion-conscious male demographic.

Thomas Scott – FY22–FY25 Snapshot (Bang Overseas Consolidated)
• Sales – ₹110 Cr → ₹135 Cr → ₹160 Cr → ₹185 Cr Growth driven by retail expansion and e-commerce traction
• Net Profit – ₹4.2 Cr → ₹6.8 Cr → ₹8.5 Cr → ₹10.2 Cr Earnings supported by margin expansion and brand licensing
• Operating Performance – Moderate → Strong → Strong → Strong EBITDA margins improving with scale and product mix
• Dividend Yield (%) – 0.00% → 0.00% → 0.00% → 0.00% No payouts; reinvestment-focused strategy
• Equity Capital – ₹10.00 Cr (constant) No dilution; lean capital structure
• Total Debt – ₹18 Cr → ₹16 Cr → ₹14 Cr → ₹12 Cr Gradual deleveraging supported by internal accruals
• Fixed Assets – ₹22 Cr → ₹25 Cr → ₹28 Cr → ₹30 Cr Capex focused on store expansion and digital infrastructure

Institutional Interest & Ownership Trends
Promoter holding stands at 74.00% via Bang Overseas Ltd. FIIs and DIIs have limited exposure due to small-cap nature and retail concentration. Delivery volumes reflect quiet accumulation by fashion and consumer-focused micro-cap funds.

Business Growth Verdict
Thomas Scott is scaling across offline retail, e-commerce, and seasonal fashion drops Margins improving due to product mix and brand premiumization Debt is declining steadily with strong operating cash flows Capex supports long-term competitiveness and omnichannel reach

Management Commentary
• Focus on expanding exclusive brand outlets (EBOs) and franchise-led growth • E-commerce sales up 42% YoY, with Myntra and Ajio driving volume • New launches in linen, stretch cotton, and festive wear gaining traction • FY26 outlook includes 15–18% revenue growth and margin retention, with PAT expected to cross ₹12 Cr

Final Investment Verdict
Thomas Scott (India) Ltd. offers a niche fashion retail story built on brand recall, affordable luxury, and omnichannel execution. Its improving profitability, disciplined capital structure, and expanding product depth make it suitable for accumulation by investors seeking exposure to India’s fashion retail and aspirational consumption themes. With strong execution, seasonal agility, and digital-first growth, Thomas Scott remains a durable value creator in the mid-premium apparel segment.