Credo Brands Marketing Limited (Scrip Symbol: MUFTI) disclosed the outcome of its Board Meeting held on August 11, 2026. The meeting commenced at 4:45 p.m. and concluded at 6:00 p.m.
Financial Results Highlights (All amounts in ₹ Millions)
Income Statement:
- Revenue from operations: ₹1,252.69 (Q1 FY27) vs ₹1,199.39 (Q1 FY26) - 4.4% increase YoY
- Other Income: ₹20.95 (Q1 FY27) vs ₹16.15 (Q1 FY26)
- Total Income: ₹1,273.64 (Q1 FY27) vs ₹1,215.54 (Q1 FY26)
Expenses Breakdown:
- Cost of materials consumed: ₹51.70
- Purchases of stock-in-trade: ₹618.67
- Changes in inventories of stock-in-trade: (₹189.50)
- Employee benefits expense: ₹94.29
- Finance costs: ₹62.94
- Depreciation and amortization expense: ₹192.36
- Other expenses: ₹411.75
- Total expenses: ₹1,242.21
Profitability:
- Profit before exceptional items and tax: ₹31.43 (Q1 FY27) vs ₹82.35 (Q1 FY26) - 61.8% decrease YoY
- Profit before tax: ₹31.43
- Tax expense: ₹8.58 (Current tax: ₹0.00, Deferred tax: ₹8.58)
- Net profit after tax: ₹22.85 (Q1 FY27) vs ₹63.03 (Q1 FY26) - 63.7% decrease YoY
Earnings Per Share:
- Basic EPS: ₹0.35 (not annualized) for Q1 FY27 vs ₹0.97 for Q1 FY26
Comparative Figures:
- Previous quarter (Q4 FY26): Revenue ₹1,623.04, Net profit ₹152.30
- Full year FY26 (Audited): Revenue ₹5,921.03, Net profit ₹474.24
Capital Structure
- Paid-up equity share capital (face value ₹2 per share): ₹130.79 million
- Other Equity: ₹4,255.26 million (as of March 31, 2026)
Corporate Actions
During the quarter under review, the Company allotted an aggregate of 24,000 Equity Shares of ₹2 each to eligible employees upon exercise of Stock Options under the Credo Stock Option Plan 2020.
Exceptional Item Note
The disclosure references an exceptional item of ₹13.97 million recognized during the previous financial year (FY26) related to the implementation of New Labour Codes effective from November 21, 2025. This pertained to past service cost for gratuity benefits due to changes in wage definition requirements.
Operational Context
- The company operates as a single business segment: retailing of men's casual wear
- The company does not have any subsidiary, associate, or joint venture company
- Financial results prepared in accordance with Indian Accounting Standard 34 (Ind AS 34)
Auditor's Review
The independent auditor's review report, issued by M S K C & Associates LLP, states that nothing has come to their attention that causes them to believe that the financial results contain any material misstatement or have not disclosed information required by SEBI Regulations.