• Event Type: Q2 FY27 Earnings Conference Call hosted by ICICI Securities Limited, conducted after the Board of Directors meeting held on October 15, 2026.
  • Date and Time: The call was held on October 16, 2026 (time not specified in the transcript).
  • Purpose: Discussion of unaudited financial results (consolidated and standalone) for the quarter and half year ended September 30, 2026, and business updates.
  • Management Participants:
  • Mr. Rafique Malik – Chairman
  • Ms. Farah Malik – Managing Director
  • Mr. Nissan Joseph – Chief Executive Officer
  • Mr. Kaushal Parekh – Chief Financial Officer
  • Mr. Mohit Dhanjal – Chief Operating Officer
  • Ms. Alisha Malik – President, Sports Division, E-commerce and CRM
  • Moderator: Mr. Ashutosh Joytiraditya from ICICI Securities Limited
  • Financial Period Discussed: Q2 FY27 (quarter ended September 30, 2026) and H1 FY27 (half year ended September 30, 2026)
  • Key Financial Highlights (Consolidated Q2 FY27):
  • Revenue grew by 12.2% to INR730 crores
  • EBITDA increased by 15.9% to INR198 crores
  • EBITDA margin improved to 27.1% from 26.2% a year ago
  • Profit after tax grew by 11% (almost 12%) to INR77 crores
  • PAT margin remained unchanged at 10.6%
  • E-commerce including omnichannel sales grew by 12% and contributed 14.2% of revenue
  • Key Financial Highlights (Standalone Q2 FY27):
  • Net sales grew by 12% year-on-year to INR712 crores
  • Profit after tax increased by 14% to INR73 crores
  • EBITDA grew 15%
  • H1 FY27 Performance:
  • E-commerce grew by 11% and contributed 13.6% of revenue
  • Gross margin improved to 58.4% compared with 57.3% a year ago
  • Store network: Opened 34 stores and closed 13 in H1, ending with 1,053 stores at September end
  • Business Updates and Forward-looking Statements:
  • Festive demand shifted from September to October, affecting Q2 growth (estimated 250-350 basis point impact)
  • Clarks: Women's range in 400+ multi-brand outlets, men's range in 100+; exclusive store range expected in Q3 FY27; exclusive stores expected in H2 FY27
  • Foot Locker and MetroActiv: BIS implementation challenges constraining supply; calibrating store openings to product availability
  • FILA: Begun local manufacturing in India; repositioning underway; transformation expected over 12-18 months; store expansion expected from FY28 onwards
  • Expect moderate increase in frontline staff costs due to remuneration structure revisions
  • Capex guidance: INR80-100 crores for FY27 including remodels
  • Marketing spend: ~4% of revenue in H1 FY27 (vs 3.25-3.4% last year)
  • Inventory expected to normalize by March 2027, with working capital days returning to ~80 by mid-to-end FY28
  • Compliance Statement: The transcript was filed pursuant to Regulation 30(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The document does not explicitly state whether unpublished price sensitive information was shared.

Additional Notes Section

  • The document is a regulatory filing containing the complete transcript of the earnings conference call.
  • No financial data beyond what was disclosed in the transcript was included in the announcement.
  • The transcript included detailed Q&A session with analysts from AMBIT Capital, IIFL Capital, Emkay Global, Goldman Sachs, Avendus Spark, Kotak Securities, Anand Rathi, and IKIGAI Asset.