Key Quantitative Figures

Q2 FY27 Standalone Performance:

  • Revenue: ₹474 Crore (-3.5% YoY)
  • EBITDA: ₹89 Crore (+8.2% YoY)
  • PAT: ₹36 Crore (+27.3% YoY)
  • EBITDA Margin: 18.9% (+204 bps YoY)

H1 FY27 Standalone Performance:

  • Revenue: ₹955 Crore (0% YoY)
  • EBITDA: ₹190 Crore (+12.4% YoY)
  • PAT: ₹83 Crore (+22.7% YoY)
  • EBITDA Margin: 19.9% (+220 bps YoY)

Retail Network Details (as of September 30, 2026)

Store Format Breakdown:

  • Exclusive Mega Showroom (Online): 299 stores across 163 cities
  • Exclusive Showroom (Offline): 305 stores across 233 cities
  • Sports Outlet: 3 stores across 3 cities
  • Factory Shop: 12 stores across 10 cities
  • Shop in Shop (SIS): 137 stores across 63 cities
  • Total Stores: 756

Network Profile:

  • Geographic Reach: 369 cities across 20 states + 4 union territories
  • Total Retail Area: ~17 lakh square feet
  • Store Model: Franchisee 60.90% | Company 39.10%
  • Store Type: High Street 96.28% | Malls 3.72%

Quarter Updates

  • Big Billion Days sales shifted from September to October, moving associated sales from Q2 into Q3 and impacting reported quarterly revenue
  • Online sales mix rebounded to ~31% from ~22% in Q1 FY27
  • RedTape.com sales grew 712% YoY, demonstrating strong traction of the Company's own website
  • 49 Exclusive Brand Outlets (EBOs) and 5 shop-in-shops added during the quarter

Management Commentary

Mr. Arvind Verma, Whole Time Director, stated: "Q2 is seasonally a softer quarter for our business, and this year the performance was also influenced by the shift in the festive and promotional calendar, which moved a part of the sales opportunity into Q3. Despite the softer revenue base, we maintained healthy margins and delivered strong profitability, reflecting the operating leverage in the business and continued discipline across costs and channels.

As we enter the second half, we move into a seasonally stronger period for the business, supported by festive and winter demand. At the same time, we continue to strengthen our omnichannel presence, with our digital business gaining momentum and our physical retail network continuing to expand. Our focus remains on strengthening the RedTape brand and driving sustainable, profitable growth across channels."

Outlook

The Company remains focused on disciplined growth, sharper execution across retail and digital channels, continued operating efficiency and protection of its consumer value proposition. Supported by improving demand trends, a healthy retail network, and stronger product and category mix, RedTape believes it is well positioned to pursue profitable growth while continuing to strengthen its brand, channel mix and operating model through FY27.

Company Background

RedTape Limited is one of India's leading lifestyle brands offering footwear, apparel, and accessories for men, women, and children through brands including RedTape, Mode, Bond Street by RedTape, and OZARK. The Company operates from Noida, Uttar Pradesh with an asset-light business model and strategic vendor partnerships.