Cantabil Retail India Ltd (NSE: CANTABIL) Q1 2026 Earnings Call dated Aug. 06, 2025
Corporate Participants:
Unidentified Speaker
Deepak Bansal — Wholetime Director
Vijay Bansal — Chairman & Managing Director
Basant Goyal — Whole Time Director
Shivendra Nigam — Chief Financial Officer
Poonam Chahal — Head – Legal & Company Secretary
Analysts:
Unidentified Participant
Arnav Sakhuja — Analyst
Vishal Dudhwala — Analyst
Bhargav — Analyst
Urvi Shah — Analyst
Pavan Kumar — Analyst
Shaurya Punyani — Analyst
Anil Jain — Analyst
Presentation:
Deepak Bansal — Wholetime Director
SSG of 11.3%, revenue growth of 24% and PAT growth of 29%. Demonstrating operational discipline, brand strength and customer loyalty even amid a challenging retail landscape. This performance underscores the continued execution of our strategic roadmap and reaffirms our focus on delivering profitable and sustainable growth. We believe complete with strong brand equity, deep customer connect and disciplined execution models will outpace the market. Entrebin is well positioned to lead this next phase of growth. I now hand over the call to Mr. Svendhanigam for giving update on the financial and operational performance for the quarter. Thank you.
Shivendra Nigam — Chief Financial Officer
Thank you sir.
And a warm welcome to everyone coming to the financial performance. Revenue From Operations for Q1FY 26 grew by 24% to 159 crore as compared to 128 crores in Q1FY 25. EBITDA for Q1FY 26 grew by24 crore to 49th crore, 24% to 49th road as compared to 39th road. In Q1FY 25. EBITda margin for Q1FY 26 stood at 30.8% as compared to 30.9% in Q1FY 25. PAC for Quarter. FY Quarter 1FY 26 grew by 29% to 14.7 crore as compared to 11.4 crore in Q1FY 25. Packed margin for Quarter 1 stood at 9.2% as compared to 8.9% in Q1FY25.
On the Operational front, we continue to scale efficiently with a total of 605 stores across the country covering a total retail area of 8.06 lakh square foot. These results affirm the strength of our business model and our ability to drive consistent high quality growth. We may now begin the Q and A session. Thank you.
Questions and Answers:
operator
Thank you very much. Begin the question and answer session. Anyone who wishes to ask a question may press Star and one on their touchstone telephone. If you wish to remove yourself from the question queue, you may press star and 2. Participants are requested to use hindsight while asking a question. Ladies and gentlemen, we will wait for a moment while the question queue assembles. The first question is from the line of Arnav Sakuja from Ambit Capital. Please go ahead.
Arnav Sakhuja
Hi. Congratulations on a great sales design. So this quarter we had a very strong volume growth of 17.48% year on year. So I just wanted to ask has the growth been equally distributed amongst men, women and the kids segment or has the growth been particularly high in any specific segments?
Shivendra Nigam
So your question is about equal growth. So the growth in terms of percentage growth in terms of totality it’s the same approximately 82% in and the balance 10% and so the ratio is same and the volume is also grown in approximately same ratio in all the categories.
Arnav Sakhuja
Okay, thanks for answering that. So my next question was could you give some commentary as to how the macro demand situation had been this quarter both for rural as well as urban areas.
Shivendra Nigam
So demand situation has been quite good because there was a very good marriage season this time and there is a bond in the economy in the sentiment macroeconomic sentiments also because there has been rate of interest cut by the RBI and there was an income tax benefit also given during the last budget. So overall sentiments in the markets are very positive.
Arnav Sakhuja
Okay, thank you for answering the questions.
Shivendra Nigam
Thank you.
operator
Thank you. The next question is from the line of Vishal Dudwala from Sri Metra Asset managers. Please go ahead.
Vishal Dudhwala
Thank you for the opportunity. Am I audible sir?
Shivendra Nigam
Yes please. Yeah Prashant. Thank you.
Vishal Dudhwala
So your Q1 deck highlights over same store sales growth and network expansion. But can you quantify like in tier 1 versus tier 2 and 3 market and which top 3 state contributed the growth.
Deepak Bansal
So the growth is equally distributed among the geographies and it’s equally distributed among the tier 1, 2, 3 towns. Our top contribution in the sales overall is Delhi then followed by Rajasthan and then followed by Uttar Pradesh. So these three are the biggest sales givers for the company and it’s the same in the Q1
Vishal Dudhwala
and going forward like if you are gonna expand so. Your first focus will be this three figures or you will try something new.
Deepak Bansal
So we have an extension like 20% of these stores are in tier 1, 40% in tier 2 and 40% stores in tier 3. So same proportion we will be going within future.
Vishal Dudhwala
Okay. And like second follow up question is on your manufacturing path is like you. Mentioned 2 lakh square footage manufacturing facilities. With 1.8 million garage per year. So can you quantify your utilization level?
Deepak Bansal
Right. So overall 18 lakh as we mentioned is our capacity and we are almost 85 to 90% is utilizing the capacity. So 16 lakh plus garment has been made last year as well and continued in the same way going forward as well.
Vishal Dudhwala
Okay. And any capex plan in near term.
Deepak Bansal
So near term for the financial year 26 as we said in our earlier calls as well. So our big project of my new warehouse income corporate facility as well as existing plant capacity increase which will be costing additionally for this financial year FY26 is approximately 20 to 25cr and that will be finished and then only going forward from this financial year and going forward also is only in the expansion of retail footprints.
Vishal Dudhwala
That’s it from my end hoping for the best. Thank you.
Deepak Bansal
Thank you. Thank you.
operator
Thank you. Before we take the next question we would like to remind participants you may press star and one to ask a question. The next question is from the line of Bhargav from Ambit Asset Management. Please go ahead.
Bhargav
Yeah Good afternoon team and congratulations for a strong set of numbers. Sir, my first question is that is it possible to know what is the full price sales ratio in our overall mix and has this been improving over the last three years?
Shivendra Nigam
So the discount we have generally offers during the fresh period also. So we give an offer of buy 2 get 1 premium, buy 3 get 2 king. The same offers were there which were last year and the same discounts are the same which were there last year and this time so there is no increase any discounts.
Bhargav
Second, is it possible to know what is the free cash flow generation during the quarter? And by free cash flow I mean post rent, post working capital and post capex.
Shivendra Nigam
Okay Bhagavaji so it is basically it will be better to explain pre index numbers in terms of cash flow that would be giving the better idea, right?
Bhargav
Yeah.
Shivendra Nigam
In this case if I say so my free cash flow as per the post index number is approximately 50cr that is a cash flow from operation But I said reduce rentals and taxes I’ll be able to generate 22cr approximately as a cash flow from operations out of which I invested in my inventory that is approximately 20cr because this quarter pint up inventory around 30 years old which is going to realize in the you do and then.
Bhargav
Hello.
operator
Ladies and gentlemen, the line for the management has been disconnected. Wait for a moment while we reconnect them. Sam. Hello ladies, thank you for being on hold. The line for management is now reconnected. Thank you and over to you sir.
Shivendra Nigam
Am I audible?
Bhargav
Yeah, yeah sir. Yes sir please go ahead I’ll re.
Shivendra Nigam
Explain the cash flow free indiff Right. So as I just. My cash flow from operation net of my rentals as well as taxes is approximately 22cr out of which I invested in inventory. Because Q1 inventory on 30 June is always filed up to relish in the Q2 that is approximately 20cr an additional payment to creditors has been made in the range of 15cr. So for working capital I paid 35cr which will be giving my net cash flow 13cr which has been utilized from the opening balances apart from this capex investment which is going for and capex is approximately 18cr.
So this is what the cash flow is. So from opening balances I’ll be able to utilize 32cr.
Bhargav
Okay. Okay. And sir, lastly in terms of the cotton prices. So if you can just share your views in terms of how do you see the cotton prices and will you be able to pass on any inflation in raw material prices.
Shivendra Nigam
So there is Babaji, we did not notice any change in the raw material prices as such. So there is no change in raw material prices and whenever it comes most probably it has to be absorbed by us. So we did not see any change in the price as much in the quarter for last many months.
Bhargav
Thank you very much and all the way.
Shivendra Nigam
Thank you. By the way.
operator
Thank you. The next question is from the line of Urvi Shah from Dollars Capital. Please go ahead.
Urvi Shah
Hello, can you hear me?
Shivendra Nigam
Yes.
Urvi Shah
Hi sir, I went through your presentation, very detailed presentation. I just had a couple of questions. So we saw an SSG growth of 11 this quarter. So how sustainable is this SSD? And second question would be in terms of our FY27 guidance how, how confident are we in achieving this and what would be the growth strategy for this? Thank you. Thank you.
Shivendra Nigam
Yeah. Yeah. So yes we have registered a good SSG this quarter. And if we recall our earlier conversation as well. So we have always guided, guided US SSG growth of 5 to 6% annual basis. So yes, my 11% this quarter has been done and definitely we are going to achieve 5 to 6% in the remaining quarter on quarter basis. So this year we should be better off. At least 5 to our earlier guidance should meet out. As far as FY27 is concerned, everything is on plan. We have fair chances to cross thousand crore revenue mark with 2022% of CAGR.
What we are doing. So this year also and FY27 also this mark is going to be achieved.
Urvi Shah
Okay, great. Thank you so much sir.
Shivendra Nigam
Thank you.
operator
Thank you. A reminder to the participants, if you wish to ask a question you may press star and one on your touchstone phone. The next question is from the line of Sidananda from Green Portfolio. Please go ahead.
Unidentified Participant
Hello.
Shivendra Nigam
Yes please.
Arnav Sakhuja
I am audible. No.
operator
Yes.
Shivendra Nigam
Yeah,
Unidentified Participant
yeah. So our marketing.
Shivendra Nigam
So your question is our marketing percentage lower than that Part I miss 1.72% is the marketing, Is it correct?
Unidentified Participant
Yes.
Shivendra Nigam
So we are always been in the range of one point.
operator
Ladies and gentlemen, the line for the management is disconnected. Please hold while we reconnect them. It. Ladies and gentlemen, thank you for being on hold. The line for the management is now reconnected. Thank you. And over to you.
Unidentified Participant
Hello.
Shivendra Nigam
Yes sir. Yes please.
Unidentified Participant
So I have asked the question that our marketing expenses as a percentage of SL significantly lower than our year. So are we going to continue on the same level or we are trying to increase or decrease already?
Shivendra Nigam
So our marketing expenses is broadly in a range of 1.5%. Right. So going forward also at least for next couple of financial year it would be in the same range the existing marketing activities what we are doing that would be continued. We are getting good response and our return ratio is good from those marketing activities. We will continue for these activities also.
Unidentified Participant
Thank you sir. The next question is what is attendee to pat margin differentiated from offline and online in offline segment and online segment.
Shivendra Nigam
Right. So pad in offline as well as online. So as of now our online segment is giving us a lesser gross margins. Obviously that is so overall we are in as above breakeven in our e commerce business as well. However, the contribution for e Commerce is only 6%. Right. Which has been increasing so it is not impacting much. My balance sheet numbers or the PNL numbers overall is also above breakeven.
Unidentified Participant
I missed some last part and repeat.
Shivendra Nigam
So we are operating at a break even level. We are operating at a breakeven level our ecommerce business.
Unidentified Participant
Perfect. Sir, the next question. I have something some questions regarding the supply chain. So let’s imagine there is a design that your design is created. Now let’s get used to all of your stores. After two to three months you notice that those designs are performing well or selling like a hot in and very important.
Shivendra Nigam
So your question is not clear. Actually your voice is not clear and we are not able to understand the question. Can you please explain again?
Unidentified Participant
I hope now I am completely audible.
Shivendra Nigam
Yes. Better.
Unidentified Participant
Yeah. Yes. So I am trying to say that let’s imagine there is a design that your designers created. Now that same cloth get pushed to all of your stores and you after two to three months you notice that that those new designs are selling like an hot cake in central region. Central India. But that is not happening in the western region. Now how your team is responding to this situation? Are the clothes from the western region getting coiled back to central region? Or what is happening to those clothes which are sitting in western region idle?
Shivendra Nigam
So we basically have three kind of a store. So if we have to divide it store into the three categories A, B and G. A very fast moving, B are the moderate moving and C is low. If any article becomes a slow more fast moving then we move it from the slow moving store to the fast moving store. So that basically happened with the every store. It is not limited to any geography. So wherever there is a fast moving source we move the inventory from the slow moving store to that store.
Unidentified Participant
Now the last question from my side. First let me decide to the question. Then you can tell me if I’m going on the right direction or not. So in last financial year that is FY25. The total retail area is around 7.8 lakh square feet. And the total rent paid is 18 crore. So the rent per square feet is 1019. Then on that basis you disclose the number. Yes. Price per square feet last year is 784. So why there is some discrepancies in those numbers. If I’m first, let me first you tell me if I’m going on the right direction or not.
If I am considering this number additives or not.
Shivendra Nigam
Sir, let me understand the question first. The question is last year my total rent is 80 crore. What you said?
Unidentified Participant
Yes.
Shivendra Nigam
Right.
Unidentified Participant
Get converts into rent per square feet of 1000 rupees.
Shivendra Nigam
1 minute 7 lakh. 86,000 square feet. The area is inclusive of my franchisee stores. So we need to remove to get the correct figure franchisee square feet. Then so the confusion is that 786 includes the franchisee area as well.
Unidentified Participant
Okay.
Shivendra Nigam
So what I’ll do what I’ll do. I got your question. You can separately mail me a question. I’ll give you a detailed clarification on this. However, my rental square feet per square feet is reducing year by year. In last three years we traveled it down from 130 rupees per square feet. Last year 122 rupees square feet. And this year we end up with FY25 with 119 rupees square feet.
Unidentified Participant
Thank you for this.
Shivendra Nigam
Immediately from the p Things not get clear.
Unidentified Participant
No, no, no, no. Can you repeat? I couldn’t hear it.
Shivendra Nigam
So what I’m saying immediately after course India other things are not getting clear. So you mail me separately your question. I’ll give you in complete details.
Unidentified Participant
Okay. Okay. Okay. Thank you sir.
Shivendra Nigam
Thank you sir.
operator
Thank you. The next question is from the line of Pawan Kumar from Ratnath Raya Capital. Please go ahead.
Pavan Kumar
I just wanted to understand why a slowdown in the number of stores that we have added in this particular quarter. And what is the net target for this one year?
Shivendra Nigam
So we have opened 24 stores at the gross level. But there are some closures. Eighteen stores have got closed. But this was majorly the insignificant stores which were closed. So if I do the breakup of 18 stores, seven were the relocations, four agreements were expired where we don’t want to renew due to because market was in bad shape and seven were the net closure performance closure which we can say so net addition is six stores. But the area we added is 21,000 square feet and we plan to add like 1 lakh 20,000 square feet in a year.
And so we will surely cover up the gap in the next quarter. We are very confident we cover up. We will cover up this gap and we are confident that we will open 1 lakh 20,000 square feet in a year.
Pavan Kumar
Okay, is there any learnings that we can be bought out from those store closures? What was going actually wrong? Any kind of feedback on that, please?
Shivendra Nigam
No, there is not any strategic mistake with the part because ire used to happen. We are 600 sites. Some stores used to get exposed, markets get outdated. So these things are like normal for us. We don’t have any strategic miscalculation due to which store number is high. There was a few stores which were used to get close on 31st March but flipped by a few days. So it came into the apparel month and this quarter. So there is no problem in the strategy and the execution. Performance based issues are very insignificant. And what is the breakup between franchise and loan stores? So our 20% are the franchisee stores and 80% are the company stores.
operator
Thank you participants. To ask a question please press star and one on your touch screen on phone. The next question is from the line of Tanmoy Roy, an individual investor. Please go ahead.
Unidentified Participant
Am I audible?
Shivendra Nigam
Yes, please.
Unidentified Participant
Congratulations. Such a great set of numbers. Most of the things been answered. I just have one thing. So the average revenue per served. I could see some improvement in this Q1 though in last few years it has gone down. So is this trend you see going to continue?
Shivendra Nigam
So our revenue per square feet has gone down Last year was because we have opened bigger stores. But in bigger stores one used to have a less per square feet sale. But our rentals have gone down, our course have gone down. So ETA has increased. Our ETA is highest in the bigger stores. So profitability wise company is going to go further, don’t go down. And we are trying to improve our SSG So with improvement in the SSG per square feet sales will also go up.
Unidentified Participant
Okay. Okay. The second one is like there was some news some days before. Like that government is trying to reduce the GST for more than 1000 selling price point clothings. So any idea on that or is that going to any help in terms of sales or anything for the business?
Shivendra Nigam
Earlier also it has been there in the discussion but not been materialized. We don’t expect at least for this financial year any changes there. However anytime we’ll be able to, we don’t see any challenge in that.
Unidentified Participant
This can be beneficial for us. Right? Instead of challenge.
Shivendra Nigam
So overall we calculated last year also. So we are almost on the same path. Few percentage increasing, some is getting down. Because they are planning to increase 1000 rupees 12% rate as 5% rate as well. So and then financial year at least we don’t expect any changes.
Unidentified Participant
Okay. Okay. Thank you so much. That’s it from my side.
Shivendra Nigam
Thank you sir.
Deepak Bansal
Thank you. The next question is from the line of Shaurya Punyani from Urja Partners. Please go ahead.
Shaurya Punyani
Hi. Am I audible?
Shivendra Nigam
Yes sir.
Shaurya Punyani
One question regarding you mentioned that you’re going to increase your capacity plant capacity. So by how much it is going to be increased from existing 1.8 million.
Shivendra Nigam
So existing capacity at 1.8 million is 1.5 is increased to 1.8 million. The capacity what we are increasing it may not be increased in terms of no finish goods like last year we completely installed the washing plant. So capacity, total capacity we want to increase. So total production number would be. This only number could be the question.
Shaurya Punyani
Okay. And so for to achieve around thousand crores of revenue in FY27 so around 1718 will have to grow this year as well. And assuming like 6% comes from the same sales growth. So are we confident that we get a good growth from the new stores than like 10 11%.
Shivendra Nigam
Yes, the guidance is clear. If you see the first quarter is 24% good sales growth. But the long term guidance frame not only from the retail expansion, my E commerce section which is 6% as of now definitely going in next two years. So 8 to 10%. So the balance 6 to 7% same store sales growth and balance 12, 13% would be a mix of retail footprint expansion as well as growth in ecommerce segment as well. But new evidence also like shoes is a newly started that is giving them a good traction that that will be.
It will be a mix of all.
Shaurya Punyani
Okay. Thank you. Thank you.
operator
Thank you. The next question is from the Line of Anil Jain from Equi Passion Capital. Please go ahead.
Anil Jain
Yeah, good evening. Yeah, my question is regarding per square feet sales. It is around 600 rupees 600 odd. So if you open a new store generally what level of sales it takes to break even? Store level.
Shivendra Nigam
So we get approximately the same kind of the per square feet sale. So this quarter we have closed at 624 rupees per square feet sale per month. So when we open 14 new stores we target that below 10 -10% maybe come because store used to grow fast in the second year. So. But there is not much difference. And we are to able to break even from the very first year for the new stores also.
Anil Jain
You mean to say that in the very first year, in the later of the half of the year you break even at the store level?
Shivendra Nigam
Yeah, in the first year only we used to do the break even. And the basically the break even of the store is dependent upon the renter rental also not just only per square feet sale.
Anil Jain
Yeah. Generally what is the difference between like your company level 10 store sales is 600 odd. And you we break up the stores between the two like two year older and new. So what is the per square foot sales difference between the two?
Shivendra Nigam
So Our overall per square feet say last year 624 is the Q1 numbers which you were interested. Overall sale per square feet is approximately 800 rupees per square foot. Now this financial year we are expecting to increase. However it’s an average like instead of per square feet. We need to understand in totality my average sale per store is 1.2 cr the moment my we do not open any store which has been expected to give even from the first year or max from the second year is 1.1cr earlier open. Also we mentioned our maturity period for the store is 2 years.
So 1cr is definitely 1.1cr. 1.05cr of the sale is copied in the 2 year 2nd year as well. So there’s hardly 10% difference in the worst year sales 2nd year. Apart from few exceptional stores, light bigger stores, they are having 1.5 plus 2 plus sale as well. So 10% is a variation. Hardly in one year. Two year one.
Anil Jain
Okay, great. Okay. And in the first quarter you have grown by 24% so.
Shivendra Nigam
Right.
Anil Jain
And volume growth of 11 12%. So are you conservative in giving guidance of 5, 6% because the now after a good monsoon and all these like retail expansion and everything. So what’s your sense on that?
Shivendra Nigam
So overall annual target we are expecting to be Better off as our earlier target. 20% is the target year. On year basis it should be better off. Q1 is good. 11%. July was slightly challenging. But we’ll be able to cover up this month’s quarter as well. So going forward, in next three quarters, 5 to 6% is going to come. So overall 5 to 6% that because target, because first quarter is better off. It should be better off finishing by this financial year. So this financial year, 5, 6, 7% same as growth and expecting 20% of overall growth is there.
Anil Jain
Okay, thank you. That’s it.
Shivendra Nigam
Thank you, sir.
operator
Thank you. The next question is from the line of Dharmesh Vyaz and individual investors. Please go ahead.
Shivendra Nigam
Yes, sir.
Unidentified Participant
Yes. So congratulations on a very good set of numbers. I am interested in the company since last three years. I’m very much satisfied with the figures and numbers you are sharing transparently. My question is that sir, we are doing very good up to the EBITDA level. We are doing 30% constantly. The problem is I think below the EBITDA level we are. Our expense, interest expense is around 4.8% of the sales. That is also we are maintaining. But our depreciation charges, which is mainly these charges is increasing year on year. Like in 2020-23 it was 9.4%.
Then it went up to the 9.9 and currently it is 11%. So what are we doing to reduce this so that we can increase our net profit levels?
Shivendra Nigam
This is the magic of India, right? It’s a really magical thing. So let me explain once again, what is India? So my 28 to 30% of EBITDA is post India. That means my rentals cost which is 80 year. The first participant which has been asked, you will not be able to see in my PNL that has been converted into my depreciation as well as finance cost. However, the company is completely debt free for last 3, 4 financial year. And we do not have any interest cost. So this is the post index number of 28 to 30%.
However my real EBITDA number from the business. If I’ll talk about pre index number that is approximately in the range of 18 to 20%. So this depreciation and finance cost, if you club together apart from my real depreciation, actual depreciation of 21cr. This is all rental cost due to India’s 116 adjustment coming to this one. So my rental cost is not increasing obviously only increasing in the ratio of what the newest stores we are open. So India is actually converting my rental to finance Cost as well as depreciation. My real depreciation is 21cr and actual finance cost is almost nick.
Unidentified Participant
Understood. So that is what I’m saying that our rental cost is increasing on a higher pace than our sales. And that is why it is not reflecting mainly increase of net profit. Like our net profit was around 12% two years back. Now it is down to around 9%. So if we can reduce this or if we can reduce the rental then we can increase the net profit. So what are we doing to reduce the rental cost or we can increasing. We can. What I think is that we are not leveraging our rentable brand for kids and women wear because we are mainly dependent on the and there is a very large market available in the kids wear also.
I think if we focus on the kids well we can increase the per sale square feet sales and which will reduce the percentage wise rental. That is my suggestion.
Shivendra Nigam
So sir, rentals. As I just explained my rental cost is actually increasing decreasing. In last year, three years it’s from 130 rupees per square feet. In fact exact 129 square feet to 118 rupees square feet this year. So it is because we are opening the bigger formal stores now. So per square foot cost gets significantly reduced. So actual apart from India if I reduce my India’s pre India rental percentage in terms of revenue ratio would be balanced would be in the same range. It is 118 rupees we are paying now.
Unidentified Participant
Okay. And my second question is that how we are doing about this new business. Are we publishing the separate figures for that or can you throw some light on that?
Shivendra Nigam
Which business sir?
Unidentified Participant
Shoe business. Because we started from investing in shoes. Also
Deepak Bansal
the shoe business we are majorly doing on the online platforms and we are selling shoes shoes only in our own stores means we just the family stores we have and the bigger stores we have we are selling shoes here. We are not opening exclusive shoes shoe stores the footwear stores. So last year we did around 10cr of the sales for the footwear and this year we are. We will grow further.
Unidentified Participant
And we are showing the quantity increase of around 17% volume wise. So what was the quantity? Actually the 17% was is transacting into how much quantity.
Deepak Bansal
So we sold around 1431,000 pieces in of you own offline offline and. And. Around 1 lakh 40,000 pieces in offline. So online online
Shivendra Nigam
total approximately 16 lakh for P 15.7.
operator
Okay. Thank you very much sir.
Shivendra Nigam
Thank you sir.
operator
Thank you. Before we take the next question I would like to remind participants you may press star and one to ask a question. The next question is from the line of Vikas Mehta, an individual investor. Please go ahead.
operator
Okay. Hi, good afternoon. Congratulations to the management and all the team of cantable for posting good results continuously for last quite a few quarters. So my question is is the management satisfied with the share price which is reflecting visa vis the hard work that the management is doing?
Shivendra Nigam
Share price.
Unidentified Participant
Correct.
Shivendra Nigam
Are you discussing share price? Yes.
Unidentified Participant
What I’m trying to say is is the management satisfied with the share price of tentable? Regarding. I mean comparing to all the hard work that we are doing as well, is it the correct reflection?
Shivendra Nigam
Sir, we deserve better. We deserve better. Honestly, we are underestimated company and we deserve better what we feel.
Unidentified Participant
So the question is. Right. So the question is what would the management plan to do in that regard?
Deepak Bansal
So basically share price is dependent on the market forces of demand and supply and management has no role to play in it. So it will be only returned by my market. Our words. Our work is to do hard work and do better. Strategy and execution part. So we are doing that.
Unidentified Participant
Okay. Thank you.
operator
Thank you. As there are no further questions from the participants, I now hand the conference over to Mr. Deeper for closing comments.
Deepak Bansal
To conclude, Q1, FY26 has laid a strong foundation for the year ahead. Our performance reflects the strength of the Cantaville brand, the disciplined execution by our teams and the increasing resonance of our offerings with consumers across India. Importantly, we are progressing well on our present 2027. A strategic blueprint aimed at expanding our retail presence and reach, improving efficiencies and cementing Cantabill’s position as a dominant force in Indian fashion apparel landscape. Every initiative we undertake is aligned with this long term vision and we remain fully committed to achieving a with speed, scale and precision. We thank you all for your time today and for your continued trust and support in Cantable Retail India Limited.
We look forward to engaging with you in the coming quarters as we continue our journey of growth and innovation. We hope we have been able to answer your queries. Please feel free to reach out to our CFO or IA team for any clarifications or feedback. Thank you all.
operator
Thank you on behalf of Cantabeel Retail India Limited. That concludes this conference. Thank you for joining us and you may now disconnect your lines.
Shivendra Nigam
Thank you everyone.