Date: September 24, 2026

Financial Results (Standalone & Consolidated)

Profit & Loss Statement - Quarter Ended June 2026 (₹ Lakhs)

| Particulars | Q1 FY27 | Q4 FY26 | Q1 FY26 | FY26 | QoQ % | YoY % |

| Revenue from Operations | 2,660 | 2,474 | 2,350 | 9,566 | 8% | 13% |

| Other Income | 132 | 453 | 192 | 1,186 | -71% | -31% |

| Total Income | 2,793 | 2,928 | 2,542 | 10,752 | -5% | 10% |

| Gross Profit | 1,150 | 1,131 | 781 | 4,039 | 2% | 47% |

| Gross Margin % | 43.2% | 45.7% | 33.2% | 42.2% | -250 bps | 1000 bps |

| Employee Benefits Expenses | 557 | 464 | 521 | 1,916 | 20% | 7% |

| Other Expenses | 794 | 1,536 | 1,046 | 5,228 | -48% | -24% |

| EBITDA | -69 | -416 | -595 | -1,920 | -84%* | -88% |

| EBITDA % | -3% | -17% | -24% | -20% | 1400 bps | 2100 bps |

| Depreciation & Amortisation | 476 | 431 | 562 | 2,064 | 10% | -15% |

| EBIT | -545 | -847 | -1,157 | -3,984 | -36%* | -53% |

| EBIT Margin % | -20% | -34% | -47% | -42% | 1400 bps | 2700 bps |

| Finance Cost | 562 | 583 | 490 | 2,118 | -4% | 15% |

| PBT before Exceptional Items | -1,106 | -1,430 | -1,647 | -6,102 | -23%* | -33% |

| Exceptional Items | – | -10,100 | – | -560 | | |

| PAT after Exceptional Items | -1,106 | -11,530 | -1,647 | -6,662 | -90%* | -33% |

Note: For loss-making lines (EBITDA, EBIT, PBT, PAT), a negative QoQ% or YoY% denotes a narrowing loss (improvement), not a decline.

Key Financial Highlights:

  • Revenue grew 8% quarter-on-quarter and 13% year-on-year
  • Gross margin compressed to 43.2% from 45.7% QoQ, driven by loss on sale of scrap following store closures and warehouse transition
  • Employee costs increased 20% QoQ due to addition in capability
  • EBITDA narrowed significantly closer to breakeven
  • Total Income fell 5% QoQ due to one-time vendor settlements affecting Other Income

Key Progress Metrics Q1 FY27

  • Sharp improvement in Like-for-Like (LFL) store revenue driven by:
  • Right and refreshed merchandise across categories
  • Improved customer experience in store and post sales
  • Stronger solution of customer needs
  • Increased share of business from Homeware category, which adds frequency of purchase for customers and completes the full home proposition

Leadership Team

The company has established a full functional leadership bench:

  • Shashwat Nigam: Chief Executive Officer & WTD
  • Vikash Kabra: Chief Finance Officer
  • Charu Srivastava: Legal Head & Company Secretary
  • Manoj Thakur: Chief Retail Officer
  • Santosh Gaonkar: Head of Furniture Category
  • Bhaskar Raman: Head of Homeware Category
  • Nilay Karambelkar: Head of Modular Business
  • Harshdeep Singh Saini: Head of E-commerce Business
  • Abhishek Kadam: Head of Marketing
  • Jagmeet Singh: Head of Supply Chain & Customer Service
  • Punit Singh: Head of Technology
  • Vedant Lakhotia: Head of New Initiatives

The leadership team is aligned on outcomes through an ESOP tied to the turnaround and supported by a board with deep retail and consumer experience.

Strategic Framework

The company's strategy is built on five key pillars for rebuilding:

1. Solutions-led stores: Stores win through consultative selling with design help and whole-room solutions

2. Complete the Home: Range that meets wider home needs including modular kitchens, wardrobes, and white-space categories filled through own label or brand partnerships

3. Customers for Life: Keep customers coming back through loyalty, service, delivery and installation

4. Deepen Our Footprint: Closer to customers through denser store clusters, capital-efficient formats, and connected online-offline journey

5. A Lean, Self-funding Engine: Tighter supply chain, inventory and costs so growth pays for itself

Company Vision

The company is transforming from an affordable retailer to a differentiated solution provider for "All Things Home," helping Indians design, furnish and run their homes across furniture, homeware, and modular solutions through curated products.