Vedant Fashions

MANYAVAR

NSE

BSE

SectorRetail

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The Quarter story

The two most recent quarterly results, compared side-by-side.

Profit margins and cost control have stabilized after a mid-year dip, though store expansion has paused and sales remain volatile.

EBITDA margin recovered from 42.9% in Q2 FY26 to 44.6% in Q1 FY27.

Store expansion reversed from 50.4 sq ft in Q3 FY25 to -15.1 sq ft in Q1 FY27.

Net profit margin rebounded from 21.3% in Q2 FY26 to 26.7% in Q1 FY27.

Gross margin slipped from 67.9% in Q2 FY25 to 65.7% in Q1 FY27.

Payroll costs fell from ₹183 Cr in Q3 FY26 to ₹152 Cr in Q1 FY27.

EBITDA volume fell from ₹2,192 Cr in Q3 FY26 to ₹1,345 Cr in Q1 FY27.

Interest expenses declined from ₹150 Cr in Q2 FY26 to ₹130 Cr in Q1 FY27.

Inventory adjustments swung from -₹283 Cr in Q2 FY25 to ₹74 Cr in Q1 FY27.

Same store sales growth turned positive from -4.5% in Q3 FY26 to 3.8% in Q1 FY27.

Net profit dropped from ₹1,349 Cr in Q3 FY26 to ₹806 Cr in Q1 FY27.

About the company

Vedant Fashions Ltd, incorporated in 2002, is India's largest manufacturer of Indian wedding and ethnic wear. The company markets its products under brands including Manyavar, Mohey, Mebaz, Twamev, and Manthan. It offers a wide range of products for men, women, and children, including sherwanis, indo-western outfits, kurtas, lehengas, sarees, and accessories. As of March 2023, the company operates 649 Exclusive Brand Outlets (EBOs) globally, covering 1.47 million square feet across 257 cities and towns. Vedant Fashions has a presence in India and international markets including the United States, Canada, UAE, and the UK.

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