Financial Performance - Full Year FY26 (Year ended March 31, 2026)

  • Revenue: ₹416 crores, representing 19% year-over-year growth
  • Revenue growth driven by 14% volume growth
  • EBITDA: ₹33 crores, representing 17% year-over-year growth
  • Profit After Tax (PAT): ₹20 crores, representing 27% year-over-year growth

Financial Performance - Q4 FY26 (Quarter ended March 31, 2026)

  • Revenue: ₹111 crores, representing 27% year-over-year growth
  • EBITDA: ₹8 crores, representing 28% year-over-year growth
  • Profit After Tax (PAT): ₹4.6 crores, representing 5% year-over-year growth
  • The PAT growth appears lower due to low tax provision in Q4 FY25 which was attributed to year-end tax ascertainment. Adjusting for this factor, PAT growth was 16%.

Operational and Business Highlights

  • Capacity Expansion: Operational capacity reached 2 crore pieces per annum during the second half of FY26. The company is on track to ramp up business commensurate with this capacity enhancement in coming quarters.
  • Cash Flow Generation: Delivered Return on Capital Employed (ROCE) of 17% and generated Cash Flow from Operations (CFO) of ₹31 crores during FY26.
  • Working Capital Improvement: Despite 19% sales growth, inventory levels remained flat year-over-year, significantly reducing inventory carrying levels from 126 days in FY25 to 102 days in FY26.
  • Margin Performance:
  • Q4 gross margins were impacted by sudden increase in input costs due to Iran war-related disruptions in March 2026
  • The company expects to pass incremental costs to customers but with a time lag
  • Operating leverage effects resulted in stable EBITDA margins despite gross profit impact
  • As capacity utilization improves, depreciation and fixed overheads will be better absorbed in coming quarters

Capital Expenditure and Investments

  • Undertook major capital expenditure of approximately ₹46 crores during FY26
  • Capex was funded entirely through internal accruals
  • The investment strengthens the company's manufacturing platform for next phase of expansion
  • Units 4 & 6 are undergoing modernization and upgrades
  • Company is shifting key value-add processes in-house that were previously outsourced

Growth Outlook and Strategy

  • Company has developed robust delivery capabilities and is positioned for next phase of growth
  • Growth expected to be driven by:
  • New customer acquisition
  • Expansion into new markets
  • Increased wallet share from existing customers
  • Export market expansion
  • Deeper customer relationships
  • Improved capacity utilization

Management Commentary

Saurav Gupta, Director of Bella Casa Fashion & Retail Ltd., stated: "FY26 marks another building block for our company wherein we built our quantitative & qualitative capabilities for multi-fold growth in our corporate journey. We saw strong performance across revenue, profitability and cash generation metrics. Despite temporary cost pressures during the fourth quarter, our operational discipline and improving scale enabled us to maintain healthy profitability while continuing to invest for future growth. Our focus remains on building a scalable and efficient manufacturing platform capable of serving both domestic and international opportunities. The investments undertaken during the year, along with continued improvement in working capital efficiency, position us strongly for the next phase of expansion. Going forward, we see meaningful opportunities emerging from export market expansion, deeper customer relationships and improved capacity utilization, which are expected to further strengthen operating leverage and unlock value for all our stakeholders."

Corporate Background

Bella Casa Fashion & Retail Ltd. is a fashion and lifestyle design and manufacturing company catering to India's leading brands. The company operates 6 manufacturing facilities based in Sitapura, Jaipur, and is publicly listed on both the Bombay Stock Exchange and National Stock Exchange of India.