Thomas Scott (India) Limited – Investor Presentation Summary

Key Operational Highlights

  • Operates as a vertically integrated tech-enabled online fashion retailer with more than 35,800 SKUs across 15+ brands distributed through 9+ channels
  • Manufacturing capacity: 60,000 pieces/month for bottoms, 60,000 pieces/month for shirts, 20,000 pieces/month for bags
  • Fulfillment capacity: 15,000 pieces per day across 4 fulfillment centers
  • Distribution network ensures majority orders delivered within maximum 2 days, with same/next day delivery in major urban areas
  • Key drivers: Data-driven product launches (15-45 days), low initial inventory (100-120 units/design), demand-driven restocking

Segment-wise Performance

  • Own Brand – Thomas Scott (B2C): Premium menswear fashion brand sold on e-commerce platforms and 5 retail outlets in Bengaluru
  • Licensed & Other Brands (B2C): Partners with e-commerce platforms (Myntra, Ajio, Namshi) for global brands including Nautica, Aeropostale, FCUK
  • Contract Manufacturing (B2B): Services clients including Raymond, Max, Being Human, Shopper Stop, Red Tape
  • Wholesale B2B2C Model: Approximately 40% of total Thomas Scott revenue now comes from wholesale-price sales to seller-aggregators

Financial Highlights

Q1 FY27 Consolidated Performance:

  • Revenue: Rs. 658 Mn (22.1% YoY growth)
  • EBITDA: Rs. 86 Mn (43.3% YoY growth)
  • PAT: Rs. 54 Mn (54.3% YoY growth)
  • EPS: Rs. 3.71 per share (48.4% YoY growth)
  • EBITDA Margin: 13.07% (194 bps YoY improvement)
  • PAT Margin: 8.21% (172 bps YoY improvement)

Quarterly Comparison:

  • QoQ revenue declined 15.4% from Q4-FY26 (Rs. 778 Mn)
  • QoQ PAT declined 10.0% from Q4-FY26 (Rs. 60 Mn)

Historical Performance:

  • FY24 Revenue: Rs. 911 Mn, PAT: Rs. 100 Mn
  • FY25 Revenue: Rs. 1,610 Mn, PAT: Rs. 128 Mn
  • FY26 Revenue: Rs. 2,549 Mn, PAT: Rs. 193 Mn

Geographical Revenue Split

  • Domestic vs Export: Not specified
  • International expansion focus: Building on success in GCC region through Myntra Global & Gulf licensing partners

Balance Sheet Snapshot

As of FY26:

  • Property, Plant and Equipment: Rs. 125 Mn
  • Intangible assets: Rs. 5 Mn
  • Capital Work In Progress: Rs. 39 Mn
  • Inventories: Rs. 858 Mn
  • Trade Receivables: Rs. 862 Mn
  • Cash and Cash Equivalents: Rs. 1 Mn
  • Other Current Assets: Rs. 465 Mn
  • Total Assets: Rs. 2,376 Mn

Capex & Cash Flow Health

  • Capital Expenditure: Not specified for current period
  • Historical Depreciation: FY26: Rs. 26 Mn, Q1-FY27: Rs. 7 Mn
  • Finance Cost: Q1-FY27: Rs. 10 Mn

Strategic & R&D Initiatives

Technology Development:

  • thread.ai: GenAI-powered co-pilot for fashion identifying trending styles and providing data-driven insights for design, pricing and merchandising
  • catalog.ai: AI-powered automation for e-commerce visuals and listings, including AI models and backgrounds
  • Both applications currently in pilot stage for internal use

Investment Rationale: Focus on formalizing advanced technology into robust applications with enhanced user experience and GenAI capabilities

Industry Trends & Business Environment

  • Consumer guardedness amid cautious global macroeconomic backdrop
  • Price elasticity to demand remained subdued in Q1
  • Growing consumer confidence in online shopping, particularly in premium fashion segment
  • Company held price points at elevated levels rather than discounting, using performance marketing for customer acquisition

Management Commentary & Growth Outlook

Strategic Outlook:

  • Focus on e-commerce as primary sales channel with "high-width low-depth" strategy
  • Expand international sales channels building on GCC region success
  • Build quick commerce sales channels for core product range
  • Premiumization of product portfolio through international brand associations
  • Expand marketplace footprint through additional licensed brand arrangements
  • Scale new categories (kids wear, handbags) and capture seasonal demand (winterwear)
  • Focus on selective long-run orders in premium segment for contract manufacturing

Technology Roadmap:

  • Further formalization of technology for pricing strategies, regionalization and replenishment
  • Explore technology pilots for external users and develop monetization strategy

Risks and Opportunities: Cautious global macroeconomic backdrop affecting consumer spending patterns

Capital Market Data

As on June 30, 2026:

  • Face Value: Rs. 10.0
  • Market Price: Rs. 335.2
  • 52 Week High/Low: Rs. 474.4 / Rs. 231.2
  • Market Capitalization: Rs. 4,916.8 Mn
  • Equity Shares Outstanding: 14.7 Mn
  • 1 Year Average Trading Volume: 41,500 shares