Motilal Oswal has maintained a Neutral rating on Vedant Fashions with a revised target price of ₹510 in its research report dated February 14, 2026. According to the brokerage's analysis, the target price has been adjusted from the earlier ₹600, premised on 30x FY28E EPS valuation. The recommendation reflects the company's current market position and growth prospects in the fashion retail sector.
The company's Q3 performance was adversely impacted by the lack of wedding days in December 2025 and January 2026, leading to a 2% drop in customer sales and a 4% YoY fall in reported revenue. As reported by Motilal Oswal, while the wedding calendar creates quarterly fluctuations, Vedant Fashions' growth has been structurally weak for the past few years despite largely stable wedding days in FY24 and FY26. This seasonal impact highlights the company's dependence on wedding-related demand for its business performance.
The brokerage noted that Vedant Fashions' growth has been structurally weak for the past few years despite largely stable wedding days in FY24 and FY26. According to Motilal Oswal's analysis, this trend indicates underlying challenges in the company's business model and market positioning. The sustained weak performance over multiple years suggests fundamental issues beyond seasonal fluctuations that require attention for future growth prospects.
