Vedant Fashions Limited caters to the Indian celebration wear market with a diverse portfolio of brands. The company offers its customers a one-stop destination for every celebratory occasion and the largest men’s Indian wedding and celebration wear by revenue. VFL commands a dominant position in conventionally unorganized market segment. Presenting below are its Q1 FY26 earnings results.
Q1 FY26 Earnings Results
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Revenue from Operations: ₹281.19 crores, up 17% YoY (Q1 FY25: ₹239.82 crores), down 23.4% QoQ (Q4 FY25: ₹367.43 crores).
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Total Income: ₹307.02 crores, up 17.5% YoY.
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Profit After Tax (PAT): ₹70.26 crores, up 12.9% YoY (Q1 FY25: ₹62.49 crores).
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EPS: ₹2.89, up 12.45% YoY (Q1 FY25: ₹2.51).
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Gross Margin: 66.9%, healthy for the sector but slightly lower YoY due to higher marketing spend.
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EBITDA Margin: 43.2%, down slightly YoY as marketing spend normalized after an unusually low Q1 last year.
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PAT Margin: About 25% (Q1 FY25: 26.1%).
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Marketing Spend: Rose to 5.6% of revenue (up from 2.3% last year) with strong campaigns for Manyavar, Mohey, and Twamev.
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Retail Network: Store footprint at 1.78 million sq.ft.; expansion focused on quality and consolidation, not rapid net additions.
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Same Store Sales Growth (SSG): 17.6% YoY, driven by improved conversion rates and higher average selling prices.
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Brand Growth: Emerging brands Mohey and Twamev outperformed company averages.
Management Commentary & Strategic Highlights
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Management cited strong wedding season demand, rebound in AP and Telangana, and improvements in SSG as key Q1 drivers.
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The slight contraction in margins is not structural; management expects full-year margins to remain stable.
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Focus is on innovation, inventory prep, new designs, and robust marketing initiatives, supported by strong infrastructure and auto replenishment systems.
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Competitive intensity from unorganized players is moderating, allowing Manyavar’s branded retail strategy to thrive.
Q4 FY25 Earnings Results
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Revenue from Operations: ₹367.43 crores.
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PAT: ₹101.11 crores.
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EPS: ₹4.16.
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Gross Margin: 68%.
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EBITDA Margin: 44%.
To view the company’s previous earnings and latest concall transcripts, click here to visit the Alphastreet India news channel.