[UPDATE] FirstCry Shares Rally 17% After Hitting 52-Week Low

Update | March 06, 05:20 PM

Shares of FirstCry surged as much as 17.1% to INR 428.00 during the intraday trading session on the BSE today (March 6), rebounding from its 52-week low of INR 356.55 on the BSE yesterday. 

The shares ended the day’s trade 11.8% above at INR 408.40 from its previous close of INR 365.30.

Original | March 06, 12:54 PM

Shares of FirstCry surged as much as 14.7% to INR 419.00 during the intraday trading session on the BSE today (March 6), rebounding from its 52-week low of INR 356.55 on the BSE yesterday, despite the day’s broader market’s recovery.

Even at 11:55 AM, the stock remained strong, trading 13.61% higher at INR 415.00 on the BSE. At this point, the company’s market capitalisation stood at INR 21,546.14 Cr, with a trading volume of 20 lakh shares.

Earlier this month, FirstCry witnessed its second high-profile exit, as chief of staff Sanket Raghavendra Hattimattur stepped down, citing “personal reasons.” This followed the resignation of company secretary and compliance officer Neelam Jethani.

Despite today’s surge, the stock remains down over 36.40% on a YTD basis and has declined 40% in the past year at the current market price.

The 10.85% decline in stock in the last month aligns with the broader market weakening in the last few months. As for the Q3 financial result, the company narrowed its consolidated net loss 69.5% to INR 14.78 Cr from INR 48.41 Cr in the year-ago quarter on the back of healthy growth in its top line. Sequentially, net loss contracted 76.5% from INR 62.85 Cr.

Revenue from operations surged 14.3% to INR 2,172.30 Cr during the quarter under review from INR 1,900.19 Cr in Q3 FY24. On a quarter-on-quarter basis, it went up 14% from INR 1,904.91 Cr.

Today’s stock rally is in sync with the broader market surge. Many new-age stocks under Inc42’s radar, including Unicommerce, surged today as the Sensex climbed 0.70% to 74,229.08 points, and the Nifty 50 rose 180.55 points to 22,513.20 at 2 PM.

Further reflecting its cost-cutting efforts, FirstCry closed 38 company-operated stores in Q3 FY25. It is also set to infuse about INR 300 Cr into its wholly owned subsidiary, Digital Age Retail Private Limited (DARP), to establish new modern stores, make lease payments for existing identified modern stores, and repay existing loans of INR 45 Cr owed by Brainbees.

FirstCry has a strong presence in India and has expanded internationally to the United Arab Emirates (UAE) and Saudi Arabia (KSA).

In India, it operates through a multi-channel approach, including an online platform, mobile app, and over 1,000 physical stores across cities such as Pune, Bangalore, Hyderabad, Mumbai, Delhi, Chennai, Kolkata, and Ahmedabad.