Financial Performance Highlights - Q1 FY27 vs Q1 FY26

Revenue & Profitability:

  • Revenue from Operations: ₹81.74 Crore (↑ 18.8% YoY from ₹68.78 Cr)
  • Gross Margin: 41.0% (↑ 193 bps from 39.0%)
  • Gross Margin (Value): ₹33.49 Crore (from ₹26.85 Cr)
  • EBITDA: ₹7.57 Crore (↑ 233.5% YoY from ₹2.27 Cr)
  • Profit Before Tax: ₹0.14 Crore (turnaround from loss of ₹6.04 Cr)
  • Profit After Tax: (₹0.83 Cr) (86.6% improvement from loss of ₹6.20 Cr)

*EBITDA calculated before depreciation, finance cost, tax, and exceptional items

**PAT calculated before considering OCI

Operational and Business Highlights

Channel Performance:

Revenue growth was driven by robust performance across Exclusive Retail, Large Format Outlets and Online channels, demonstrating strength of the company's diversified omni-channel distribution model.

Working Capital Management:

  • Gross Working Capital Days improved to 294 days (from 327 days in corresponding quarter previous year)
  • Continued focus on inventory optimisation and receivables management

Distribution Network (as of 30th June 2026):

  • 176 exclusive stores operated
  • Presence across 750+ Multi-Brand Outlet doors
  • 200+ Large Format Outlet counters
  • Serves customers across 250+ cities in India and overseas

Management Commentary

Mr. Charath Ram Narsimhan, Managing Director & Chief Executive Officer, commented on the performance:

"The first quarter of FY'27 marks another encouraging milestone in our journey towards sustainable and profitable growth. Despite a measured consumer spending environment, we delivered healthy revenue growth while significantly improving our profitability through disciplined execution across merchandising, channel management and cost optimisation.

We continued to strengthen our omni-channel presence through improved performance across Exclusive Retail, Large Format Outlets and Online channels, while maintaining focus on inventory optimisation, receivables management and operational excellence. These initiatives resulted in meaningful improvements in gross margins, operating profitability and a return to positive Profit Before Tax during the quarter.

Looking ahead, we remain focused on strengthening our product portfolio, enhancing customer engagement, improving channel productivity and maintaining financial discipline. With a strong brand, an agile business model and a diversified distribution network, we are well positioned to drive sustainable profitable growth and create longterm value for our shareholders."

Outlook

The Company enters the second quarter with stronger profitability, improved working capital efficiency and encouraging visibility on the order pipeline. Management remains focused on:

  • Converting the healthy order book
  • Accelerating profitable growth across channels
  • Expanding its product portfolio
  • Maintaining disciplined inventory and cost management

The Company continues to remain optimistic on medium-term growth opportunities, supported by its strengthened omni-channel capabilities, diversified distribution network and continued focus on operational excellence.