Financial Performance Highlights

Consolidated Financials (Rs. Crore):

  • Revenue from Operations: Rs 2,026 crore (Q1 FY27) vs Rs 1,831 crore (Q1 FY26), representing 11% YoY growth
  • Other Income: Rs 56 crore (Q1 FY27) vs Rs 64 crore (Q1 FY26)
  • Total Income: Rs 2,082 crore (Q1 FY27) vs Rs 1,895 crore (Q1 FY26)
  • EBITDA: Rs 167 crore (Q1 FY27) vs Rs 169 crore (Q1 FY26), -2% YoY
  • EBITDA Margin: 8.2% (Q1 FY27) vs 9.3% (Q1 FY26)
  • EBIT: Rs -183 crore (Q1 FY27) vs Rs -146 crore (Q1 FY26)
  • PBT: Rs -320 crore (Q1 FY27) vs Rs -260 crore (Q1 FY26)
  • PAT: Rs -249 crore (Q1 FY27) vs Rs -234 crore (Q1 FY26)
  • Tax Expenses: Rs -72 crore (Q1 FY27) vs Rs -26 crore (Q1 FY26)

Segmental Performance (Rs. Crore)

Pantaloons Segment:

  • Revenue: Rs 1,204 crore (Q1 FY27) vs Rs 1,094 crore (Q1 FY26), 10% growth
  • EBITDA: Rs 192 crore (Q1 FY27) vs Rs 187 crore (Q1 FY26)
  • EBITDA Margin: 15.9% (down from 17.1% in Q1 FY26)
  • Pantaloons format LTL: 4%
  • Overall growth: 7%
  • OWND growth: 55% led by store additions
  • E-commerce revenue: Up 37% YoY, contributing ~5% of segment revenue

Ethnic Businesses:

  • Revenue: Rs 454 crore (Q1 FY27) vs Rs 436 crore (Q1 FY26), 4% growth
  • EBITDA: Rs 1 crore (Q1 FY27) vs Rs 2 crore (Q1 FY26)
  • EBITDA Margin: 0.4% (Q1 FY27) vs 0.4% (Q1 FY26)
  • Excluding TCNS: Growth at 14%

TMRW:

  • Revenue: Rs 220 crore (Q1 FY27) vs Rs 197 crore (Q1 FY26), 11% growth
  • EBITDA: Rs -42 crore (Q1 FY27) vs Rs -63 crore (Q1 FY26)
  • EBITDA Margin: -31.8% (improved from -31.8% in Q1 FY26)
  • Losses narrowed YoY
  • Offline mix exceeded 15% in Q1

Others (Luxury):

  • Revenue: Rs 157 crore (Q1 FY27) vs Rs 121 crore (Q1 FY26), 30% growth
  • EBITDA: Rs 16 crore (Q1 FY27) vs Rs 55 crore (Q1 FY26)
  • EBITDA Margin: 45.6% (down from 45.6% in Q1 FY26)

Operational Highlights

Retail Network Expansion:

  • Added 45+ stores across brands
  • ~70,000 sq ft net area addition
  • Total retail footprint: >7.9 million sq ft (vs 7.4 million sq ft in June 2025)
  • Includes 11 international stores

Pantaloons Specific:

  • 10 new stores added (1 Pantaloons & 9 OWND)
  • OWND now available at 88 stores
  • Pantaloons retail network: 399 stores covering 5,780,000 sq ft (June 2026)

Ethnic Portfolio:

  • India's largest ethnic wear portfolio with 2200 Cr+ annual revenue
  • 670+ stores across brands
  • Designer led brands delivered 100 Cr+ quarter

Digital Brands (TMRW):

  • Portfolio spans over 140+ exclusive brand stores
  • Added 20+ new stores in Q1 across brands
  • Secondary revenue grew 16% vs LY

Market Context

  • Occasion-led demand saw moderation YoY due to Adhik Maas disrupting wedding-related consumption
  • Input cost pressures emerged across raw materials, logistics, and wages
  • Value retail experienced high competitive intensity, particularly in lower-tier markets
  • Digital fashion brands expanded omnichannel presence with D2C brands accelerating offline expansion

Key Performance Metrics

  • Pantaloons format delivered mid-single digit LTL
  • The Collective & Mono brand (TCMB) portfolio recorded double-digit LTL
  • Ethnic margin remained stable YoY
  • TMRW's YoY losses continued to narrow
  • Galeries Lafayette continues to gain steady momentum with strong brand collaborations