Key Financial Performance (Q1 FY27 vs Q1 FY26)

  • Revenue from Operations: ₹3,311 million, representing growth of +7.2% Year-over-Year (YoY) (Q1 FY26: ₹3,070 million)
  • Cost of Materials Consumed: ₹297 million (Q1 FY26: ₹258 million)
  • Purchases of Stock-in-Trade: ₹506 million (Q1 FY26: ₹359 million)
  • Employee Benefits Expense: ₹152 million (Q1 FY26: ₹156 million)
  • Other Expenses: ₹666 million (Q1 FY26: ₹673 million)
  • Profit Before Tax (PBT): ₹1,055 million, representing growth of +14.1% YoY (Q1 FY26: ₹925 million)
  • Tax Expense: ₹249 million, comprising Current Tax of ₹233 million and Deferred Tax of ₹16 million (Q1 FY26: ₹269 million, comprising Current Tax of ₹269 million and Deferred Tax of ₹(46) million)
  • Profit After Tax (PAT): ₹806 million, representing growth of +14.7% YoY (Q1 FY26: ₹703 million)
  • PAT Margin: 26.7%
  • Gross Margin: 65.7%

Operational and Retail Performance (Q1 FY27)

  • Retail Sales (Sales of our Customers): Grew by +3.4% compared to Q1 FY26.
  • Domestic Same-Store Sales Growth (SSSG): Grew by +3.8% compared to Q1 FY26. The SSSG calculation includes stores open on or before March 31, 2025, and running as of June 30, 2026.

Retail Network and Presence (As of June 2026)

  • Domestic EBO Retail Footprint: 1.67 million sq. ft. across India.
  • Number of Domestic EBOs: 501 stores.
  • Number of Domestic Cities and Towns: 205.
  • Shop-in-Shops (SIS) Area: 65 thousand sq. ft. across India.
  • Number of SIS Doors: 136 doors in 103 cities, with 31 cities exclusive to the SIS format.
  • International Stores Area: 32 thousand sq. ft. globally.
  • Number of International Stores: 14 stores in 9 global cities.

Net Rollout Activity (Q1 FY27)

  • EBO Area Net Rollout: (15.1) thousand sq. ft.
  • SIS Stores Net Rollout Area: (5.8) thousand sq. ft.
  • International Stores Net Rollout Area: (7.7) thousand sq. ft.

Company Overview and Business Model

Vedant Fashions Limited is headquartered in Kolkata and was incorporated in 2002 by Mr. Ravi Modi. It is described as a category leader in the branded Indian wedding and celebration wear market with a pan-India presence. Its flagship brand, Manyavar, started operations via a predecessor entity in 1999. The company's multi-brand portfolio includes:

  • Manyavar (1999): Targets men and boys in the mid-to-premium price segment.
  • Mohey (2015): Targets women in the mid-to-premium price segment.
  • Twamev (2019): Targets men and women in the premium segment.
  • Diwas (2024): Targets men in the value-to-mid-premium segment.
  • Mebaz (Acquired 2017): A South India-focused regional brand for men, women, and kids in the mid-premium to premium segment, started in 2002.

The company operates an omni-channel network comprising Exclusive Brand Outlets (EBOs), Multi-Brand Outlets (MBOs), Large Format Stores (LFS), and Online channels (own website and lateral e-commerce platforms). It emphasizes an asset-light, franchisee-led EBO distribution model, a no-discount policy for the Manyavar brand, and uniform pricing across channels.

Growth Strategy

The presentation outlines the company's key growth pillars:

1. Retail Expansion within and outside India.

2. Up-selling and cross-selling initiatives.

3. Enhancement of brand appeal through targeted marketing initiatives.

4. Significant potential for growth of emerging brands (Mohey, Twamev, Diwas, Mebaz).

5. A disciplined approach towards acquisitions.

Marketing and Brand Initiatives

Recent marketing campaigns highlighted include:

  • Manyavar: "Made for Each Other" campaign featuring Rashmika and Vijay Devarakonda, influencer campaigns, and the "Shaadi ka Safar" campaign.
  • Mohey: Influencer activations, expert styling associations, and the "Mohey Time Capsule" campaign.
  • Twamev: Continued focus on the "Truly You" proposition.
  • Diwas: Summer & Monsoon focused content and Brothers' Day campaign.
  • Mebaz: Out-of-Home (OOH) campaigns and influencer content to drive engagement for all-occasion celebration wear.

Awards and Accolades

The document lists numerous awards received, including:

  • "India Retail Champions Award" RAI Category (Apparel & Lifestyle)
  • "Most Admired Fashion Brand of the year: Men's Indian wear" Images Fashion Award
  • "Entrepreneur Of The Year" (Consumer Products and Retail) by EY
  • "Dream Employer of the Year" World HRD Congress
  • "The Best of Bharat" Awards E4M Pride of India

Definitions and Glossary

Key terms defined in the presentation include:

  • Sales of Customers: Comprises sales of products made by EBOs, LFSs, and online channel customers, and sales made to MBOs (including SIS) and certain lateral e-commerce platforms at Retail Selling Price (RSP).
  • OPBDIT: Operating profit before depreciation, interest & tax.
  • SSSG: Same-Store Sales Growth.

Disclaimer

The presentation includes a standard disclaimer stating it is for information purposes only and does not constitute an offer to purchase securities. It notes that forward-looking statements are subject to risks and uncertainties.