Financial Performance - Quarter Ended September 30, 2026

Income Statement:

  • Revenue from operations: ₹4,519.93 million (compared to ₹3,768.80 million in Q2 FY26)
  • Other income: ₹160.37 million (compared to ₹95.75 million in Q2 FY26)
  • Total Income: ₹4,680.30 million (20.1% increase YoY)

Expenses:

  • Cost of materials consumed: ₹2,868.12 million
  • Employee benefits expense: ₹545.29 million
  • Other expenses: ₹1,388.84 million
  • Finance costs: ₹80.18 million
  • Depreciation and amortization: ₹316.22 million

Profitability:

  • Profit before tax: ₹265.44 million (compared to ₹159.58 million in Q2 FY26)
  • Tax expense: ₹106.52 million (Current tax: ₹42.22 million, Deferred tax: ₹64.30 million)
  • Profit for the quarter: ₹158.92 million (compared to ₹159.58 million in Q2 FY26)
  • Basic EPS: ₹0.48 (not annualized)
  • Diluted EPS: ₹0.47 (not annualized)

Financial Performance - Half Year Ended September 30, 2026

Income Statement:

  • Revenue from operations: ₹8,569.04 million (compared to ₹7,240.03 million in H1 FY26)
  • Other income: ₹316.57 million (compared to ₹172.98 million in H1 FY26)
  • Total Income: ₹8,885.61 million (19.9% increase YoY)

Profitability:

  • Profit before tax: ₹628.49 million (compared to ₹355.74 million in H1 FY26)
  • Tax expense: ₹235.75 million
  • Profit for the period: ₹392.74 million (compared to ₹355.74 million in H1 FY26)
  • Basic EPS: ₹1.18 (not annualized)
  • Diluted EPS: ₹1.18 (not annualized)

Capital Structure Changes

  • Paid-up equity share capital: ₹331.65 million (331.65 million shares of ₹1 each)
  • The Company completed an Initial Public Offer (IPO) of 66,096,866 equity shares of face value of ₹1 each at an issue price of ₹195 per equity share (including share premium of ₹194 per equity share)
  • The IPO comprised an offer for sale of 46,754,405 equity shares by selling shareholders and fresh issue of 19,342,461 equity shares
  • Equity shares were listed on NSE and BSE on December 15, 2025

Balance Sheet Position (as at September 30, 2026)

Assets:

  • Total assets: ₹19,469.20 million (compared to ₹17,511.99 million as at March 31, 2026)
  • Property, plant and equipment: ₹1,704.10 million
  • Right of use assets: ₹2,936.35 million
  • Inventories: ₹3,252.18 million (significant increase from ₹1,975.54 million)
  • Cash and cash equivalents: ₹283.84 million (decreased from ₹884.86 million)
  • Other financial assets: ₹5,614.43 million

Equity and Liabilities:

  • Total equity: ₹11,735.36 million (Equity share capital: ₹331.65 million, Other equity: ₹11,403.71 million)
  • Lease liabilities: ₹3,321.16 million (Non-current: ₹2,423.49 million, Current: ₹897.67 million)
  • Trade payables: ₹3,325.61 million

Cash Flow Statement (Half Year Ended September 30, 2026)

  • Net cash from operating activities: ₹388.44 million
  • Net cash used in investing activities: ₹(551.16) million
  • Net cash used in financing activities: ₹(438.30) million
  • Net decrease in cash and cash equivalents: ₹(601.02) million

Significant Accounting Notes

Deferred Tax Asset Recognition:

During the quarter and year ended March 31, 2026, the Company reassessed the recoverability of its carry forward losses and unabsorbed depreciation. Based on taxable profits during FY2026, future projected taxable profits, and use of IPO proceeds for expansion, the Company recognized a deferred tax asset (net) of ₹1,034.40 million as at March 31, 2026, with corresponding deferred tax credit of ₹980.71 million recognized in Statement of Profit and Loss.

Labour Codes Impact:

On November 21, 2025, the Government of India notified four Labour Codes. The Company recognized an incremental impact on employee benefit obligations (gratuity and compensated absences) aggregating to ₹37.59 million in the financial statements for the year ended March 31, 2026, presented under 'Exceptional items'.

Segment Reporting:

The Company operates in one reportable segment - 'Home Furnishing'.

Historical Results:

The financial results for the corresponding quarter and half year ended September 30, 2025 were approved by the Board but were not subjected to limited review or audit by Statutory Auditors, as quarterly reporting requirements commenced only from the quarter ended December 31, 2025 post-listing.