Stocks of Indian consumer companies, which went public post-2020, have outperformed the broader benchmark index BSE Sensex, despite having a strong focus on offline business, according to venture capital and growth equity investment firm Elevation Capital.
While consumer brands yielded a return of 15.2% between 1 March 2022 and 31 January 2023, the Sensex surged 6.8% in the same period, Elevation said in a study titled ‘Consumer IPOs Post 2020 - Learnings and Implications’.
With a return of 54% during the period under review, multi-brand footwear retail company Metro Brands was the top gainer, followed by ethnic wear brand Manyavar, and women’s apparel brand Go Colors at 47% and 17% returns, respectively.
The stock performance of these companies come on the back of decent earnings. Post IPO, consumer brands saw their revenues and gross margins rise 31.5% and 54.7% respectively in the September quarter.
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