{"id":183510,"date":"2026-05-19T07:59:09","date_gmt":"2026-05-19T11:59:09","guid":{"rendered":"https:\/\/alphastreet.com\/india\/cantabil-retail-india-ltd-cantabil-q4-2026-earnings-call-transcript\/"},"modified":"2026-05-19T08:02:37","modified_gmt":"2026-05-19T12:02:37","slug":"cantabil-retail-india-ltd-cantabil-q4-2026-earnings-call-transcript","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/cantabil-retail-india-ltd-cantabil-q4-2026-earnings-call-transcript\/","title":{"rendered":"Cantabil Retail India Ltd (CANTABIL) Q4 2026 Earnings Call Transcript"},"content":{"rendered":"

Note:<\/strong> This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon.<\/em><\/p>\n

Cantabil Retail India Ltd (NSE: CANTABIL) Q4 2026 Earnings Call dated May. 19, 2026<\/span><\/strong><\/p>\n

Corporate Participants:<\/h2>\n

Vijay Bansal<\/strong> \u2014 Chairman & Managing Director<\/em><\/p>\n

Shivendra Nigam<\/strong> \u2014 Chief Financial Officer<\/em><\/p>\n

Analysts:<\/h2>\n

Ankit Shah<\/strong> \u2014 Analyst<\/em><\/p>\n

Shrinjana Mittal<\/strong> \u2014 Analyst<\/em><\/p>\n

Unidentified Participant<\/strong><\/p>\n

Presentation:<\/h2>\n

Operator<\/strong><\/p>\n

Ladies and Gentlemen, good day and welcome to the Canterbury Deal India Limited Q4 and FY26 earnings conference call. As a reminder, all participant lines will be in the listen only mode and there will be an opportunity for you to ask questions after the presentation concludes. Before we begin, a brief disclaimer. The presentation which Cantable Retail India Limited has uploaded on the stock exchange and in their website, including the discussions during this call, contains or may contain certain forward looking statements concerning Canterbury Retail India Limited business prospects and profitability which are subject to several risks and uncertainties and the actual result could materially differ from those in such forward looking statements.<\/p>\n

Should you need assistance during this conference call, please signal an operator by pressing Star then zero on your touch tone phone. Please note that this conference has been recorded. I now hand the conference over to Mr. Vijay Bansal, CMD, Cantable Retail India Ltd. Thank you. And over to you sir.<\/p>\n

Vijay Bansal<\/strong> \u2014 Chairman & Managing Director<\/em><\/p>\n

Good evening everyone. On behalf of Cantable Retail India Ltd. I extend a warm welcome to all participants who are joining us for the Q4 and FY26 earnings conference call. Joining me today are Mr. Deepak Bansal, full time director, Mr. Basant Goan, full time director, Mr. Svendar Nigam, Chief Financial Officer, Ms. Poonam Chain Company Secretary and our Investor Relations Advisor from Medicine Capital. We Trust you have had the opportunity to review our Q4 and FY26 results. The earnings presentation and financial statements are available on the stock exchanges and the company website.<\/p>\n

Financial year 2026 was another landmark year for our company marked by record performance and sustained momentum across our product portfolio. Stroke, brand recall, expanding market presence enable us to deliver industry leading growth and highest annual profit despite a challenging global environment. Backst by geopolitical uncertainties, supply chain disturbance and what volatile input cost. We also achieved our highest ever EBITDA reflecting the strength of our operating model, discipline, cost management and scale efficiency.<\/p>\n

Over the last five years we have consistently delivered strong results with a revenue CABR of 22% and a batch CAGR of 26% reaffirming the effectiveness of our long term growth strategy and focus on sustainable value creation. Our resilient business model supported by prudent financial management and a strong balance sheet positions us well to navigate near term uncertainties while quite continuing to invest in growth opportunities. I now hand over the call to Mr. Svendar Nigam for giving update on the financial and operational performance.<\/p>\n

Thank you.<\/p>\n

Shivendra Nigam<\/strong> \u2014 Chief Financial Officer<\/em><\/p>\n

Thank you sir. And a warm welcome to everyone. Now presenting the number standalone Performance highlights for FY26 Revenue from operations for FY26 grew by 18% to 852.6 crore as compared to 721.1 crore in FY21. EBITDA for FY26 grew by 29% to 264.3 crores as compared to 204.8 crores in FY25. EBITDA margins for FY26 improved to 31% as compared to 28.4% in FY25. Our PAT margin for FY26 grew by 28% to 95.8 cr as compared to 74.9 cr in FY25. Pack margins for FY26 improved to 11.2% as compared to 10.4% in FY25.<\/p>\n

Coming to standalone performance highlights for Q4FY26 Our revenue from operation for Q4FY26 grew by 15% to 253.5 cross as compared to 219.8 cr in Q4FY25. Our EBITDA for Q4FY26 grew by 34% to 78.1 crores as compared to 58.4 crores in Q4FY25. Our eBITDA margins for Q4FY26 improved to 30.8% as compared to 26.6% in Q4FY25. Our PAT for Q4FY26 grew by 13% to 29.2 cr as compared to 22.5 cr in Q4FY25.Our BAT margins for Q4FY26 improved by 11.5% as compared to 10.2% in Q4FY25. On the operational front, we continue to scale our efficiently with a total of 652 stores across the country covering a total retail area of 9.15 lakh square feet.<\/p>\n

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.<\/p>\n

Operator<\/strong><\/p>\n

Thank you very much. We will now begin the question and answer session. Anyone who wishes to ask a question may press star and one on the touchdown telephone. If you wish to remove yourself from the question queue, you may press chart and two participants are requested to use handsets while asking a question. Ladies and gentlemen, we’ll wait for a moment while the question queue assembles. The first question is from the line of ABHI Jain from AJ Capital. Please go ahead.<\/p>\n

Shivendra Nigam<\/strong> \u2014 Chief Financial Officer<\/em><\/p>\n

Hi, good evening. Hope I’m audible.<\/p>\n

Vijay Bansal<\/strong> \u2014 Chairman & Managing Director<\/em><\/p>\n

Yes Please,<\/p>\n

Shivendra Nigam<\/strong> \u2014 Chief Financial Officer<\/em><\/p>\n

I just wanted to understand something around the same store sales growth. Obviously you have a.<\/p>\n

Ankit Shah<\/strong> \u2014 Analyst<\/em><\/p>\n

Your voice is not clear. Can you please repeat<\/p>\n

Shivendra Nigam<\/strong> \u2014 Chief Financial Officer<\/em><\/p>\n

The question? Is it better now? Yes, please. Yeah, Hi. So sir, I wanted to understand something around the same, which is the same store sales growth. Now obviously you have a great track record of 10 years offline on a consistent basis. But what I’ve observed from the data is that, you know, your SSV seems to be, you know, highly correlated to the monetary policy. So whenever the monetary policy is loose, we see an uptick in your same store sales stores. And whenever there is monetary policy tightening, you know, the FSG takes a hit.<\/p>\n

And given the inflationary environment that we are in right now, it is not a very difficult thing to assume that in the next 12 months we might start seeing monetary policy tighten again. Can you help us understand if there is any lever that you guys are thinking or the management is thinking of pulling to save this, you know, expected decline in the SSG which is highly correlated to the monetary policy? Have you thought about it? Because the data clearly shows that.<\/p>\n

Ankit Shah<\/strong> \u2014 Analyst<\/em><\/p>\n

So<\/p>\n

Shivendra Nigam<\/strong> \u2014 Chief Financial Officer<\/em><\/p>\n

If monetary policy tightens,<\/p>\n

Ankit Shah<\/strong> \u2014 Analyst<\/em><\/p>\n

Discretionary spending will take a hit and I’m pretty sure that the FSG of cantable will also know take a hit. So any thoughts around that?<\/p>\n

Shivendra Nigam<\/strong> \u2014 Chief Financial Officer<\/em><\/p>\n

RSS last year was around 5% and in a PR also was around 5%. So monetary policies right now is not hampering our SSC growth because in May also till now we are getting a decent ss. So in the past also, yes, monetary policy constrains the customer credit. But due to our efficient practices and the adopting some incentive policies at different end and by the marketing activities, we are able to get the SSG in the tightness of the financial policy.<\/p>\n

Questions and Answers:<\/h2>\n

Ankit Shah<\/strong><\/p>\n

Okay. On a medium term basis we are pretty confident that this SSG of this 5 to 6% will continue despite whatever the monetary policy or repo rates are. Even if the repo rates increase to more over 100%, you are pretty confident to maintain the 5 to 6% FSV.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Yes, we are continuously delivering for last many years is say 5 to 6% that we are being promising. We are targeting more but at least 5 to 6% of the same is absolutely on the track.<\/p>\n

Ankit Shah<\/strong><\/p>\n

All right, That’s helpful. Thirdly,<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Sir, what I want to also understand is that, you know, obviously I’m looking at the top line and this year round it has been around in the 15 to 16% range in Q4 we are talking about specifically. So can you just give us some sense into your, you know, the new Store openings that you’re seeing, how do they compare to the existing stores? I mean in terms of your breakeven points, in terms of the adaptability. Because now you’re venturing<\/p>\n

Ankit Shah<\/strong><\/p>\n

Into newer markets. So I just want to understand how well are new customers adopting to cantabist.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Our new stores are giving very good response. So last year we opened around 53 stores and right now also around 45 stores are in the pipeline and all stores are performing very well. So we are not facing any challenge in the new market. Stores and the old stores as you have noticed as HCs doing 5%. So overall the combination of old stores, new stores, those are giving good revenues to the company. All<\/p>\n

Vijay Bansal<\/strong><\/p>\n

Right. Thank you sir.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Thank you sir.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from the line of Tarun Sharma from Anandranti. Please go ahead.<\/p>\n

Vijay Bansal<\/strong><\/p>\n

Hi. Hi. Good morning. Good. Good evening actually and congratulations on a great set of numbers. I just had a couple of questions. So are we seeing any price hike that we would also be adopting considering how the raw material situation is. And are we seeing any impact of raw material Pricing is in our input cost.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

So yes, this is actually sale is same price is obviously dependent on our cost price directly. Already the seasons merchandise is there. But as of now we have some input material has been taken. Some hype. Yes. Some cost is to be bear by the customer and some buyers. So it’s a mix and nad. Yeah. Our prices, selling prices are dependent on cost.<\/p>\n

Vijay Bansal<\/strong><\/p>\n

Okay. And are we seeing any early trends of impact of the cost on maybe considering the footfall as well Because I think. Or is it. Are we seeing good response currently as well<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Is good because we are getting the SSG till now. So footfall is fine till now. So no impact only.<\/p>\n

Vijay Bansal<\/strong><\/p>\n

On the balance sheet side. We have 25 crore showrunner loans. Can you just explain a bit on the nature of the same.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

So we have given an intercorporate loan. Honestly we are having a fund surplus. We have. We are getting some good amount of returns. Normal market returns in terms of fund is approximately 6 to 7%. This we have been given on 12 CQ so for one year. So that is for the better return only.<\/p>\n

Vijay Bansal<\/strong><\/p>\n

Okay, I’ll thank you for this and I’ll just join back in the queue for any further question.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Okay sir. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from the line of Ankit Shah from White Equity Investment Advisors. Please go ahead.<\/p>\n

Ankit Shah<\/strong><\/p>\n

Thank you for taking my question. So my first question is on store leads rent. Can you share the number for F26 and the estimate for FY27.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Yes. If you see in the cash flow because Indian 116 that expense is on the bottom line of cash in the financing activities. So that is approximately 100 CRE for this financial year and 5% almost agreement should end up approximately at 108 to 110 by the next financial year. Okay. This<\/p>\n

Ankit Shah<\/strong><\/p>\n

Is the actual lease rent cost that you will be paying,<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Right? Yeah. This is the payment of lease borrowing and the payment of interest on lease liability. This is approximately 95% is the actual lease rental what we are paying.<\/p>\n

Ankit Shah<\/strong><\/p>\n

Okay. So of this 100 crores, you know 95 crores would be the actual output.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

99cr is my actual rental cost for the financial year FY26.<\/p>\n

Ankit Shah<\/strong><\/p>\n

Okay. Okay. Yeah. So the average bill value is going up by approximately 10% per annum. What would you attribute this to? I mean, you know what’s going right for us in this and you know the likely trajectory for FY27.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Yes. This is a mix of obviously some sort of inflation is there and a better mix in terms of margins. Better product margin because we are maintaining 60% of the gross margin. So this year also some better due to optimization of product. We are it would be better than existing one. Exactly what will happen? That will take time. But some part would be better than for this financial year.<\/p>\n

Ankit Shah<\/strong><\/p>\n

Okay. The store edition is slightly slower than the planned trajectory. So we had planned for 675 stores by F26. So where are we missing and you know what’s the trajectory for next year?<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

So the same thing. Actually these are the in my earlier calls as well earlier cementry which is in last one year or one and a half years. Now we are every year 10% of our total store that is out of 600 cities come for the renewal because nine year fee has been completed. So this year actually we have opened 91 stores. Numbers are looking 5391 stores have been opened. We have been ahead of our targets. Right. But out of this 91 is true, 38 is true stores will come either on the renewals or there are few performance based closers as well.<\/p>\n

So largely out of these 38 stores, 2425 stores are the renewals where we get the better opportunity. They are relocations and 13 stores approximately on the performance end in this financial year. In fact we also opened 91 stores. And going forward also FY27 target is online, thousand crore of revenue and 725 across the number of the stores.<\/p>\n

Ankit Shah<\/strong><\/p>\n

So we are currently at 650 plus stores. So we plan to add net 100 stores in next one year or is it gross 100 stores?<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

To be honestly, we are looking for the square feet as well. We have added 1 lakh and ultimately 11,000 square feet this year. Right. So if you see however my stores are bigger. 1700 is the area for this asset financial year. So net number targeting to open 1900. Net numbers may be 70. 70. That depends. That depends.<\/p>\n

Ankit Shah<\/strong><\/p>\n

Got it. Got it. In the the square foot, the area we should be looking at 15 to 20% per annum addition approximately. Or should that be different?<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

We are targeting that. We are targeting that 15 to 30. 15% will 15 to 20. That depends on the locations. But we are targeting this much of area.<\/p>\n

Ankit Shah<\/strong><\/p>\n

Okay. Okay. I’ll join bank. Thank you.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Thanks.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from the line of Swapnil Gupta from White Pine investment. Please go ahead.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Yeah. Hi. Thank you for the opportunity. My question is related to the gross margins. So in FY26 we made about 60.4% gross margin. And it’s containing the improving<\/p>\n

Ankit Shah<\/strong><\/p>\n

Trend from 56.2% in FY24. So going forward is this 60% margin sustainable?<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Yes. The margin what we are targeting on a long term basis is approximately 15%. Any of the commentary we are giving is getting better than that. However 1% may be up and down but that is there. But the overall target to maintain 60% of the gross margin.<\/p>\n

Vijay Bansal<\/strong><\/p>\n

So in FY27 if you will also inflation we’ll also raw materialize increase. So with all those things we’ll still maintain our 60% guidance.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

60% is the guidance for us. Our internal guidance is to maintain the block margin is 60%.<\/p>\n

Vijay Bansal<\/strong><\/p>\n

Okay, thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Before we take the next question we would like to remind participants that you may press char n1 to ask a question. The next question is from the line of Arjun Gaikwad, an individual investor. Please go ahead.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Hello. Am I audible? Yes, sir.<\/p>\n

Vijay Bansal<\/strong><\/p>\n

Yeah. So I just wanted to ask like I wanted to understand the rational behind not accelerating franchisee led growth. As to why are we not focusing on franchisee stores.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Company DNA is from very start. From the very start was about the Coco stores. So we open the. So we have around 20% franchisees and 80%. But as we are doing bigger stores we are doing the high rental properties buying locations. Naturally sometimes franchisees are not comfortable with very high investment properties with high rentals. So companies go for the cocoa stores in those places. But we are in a tier 3 market where the rentals are less, investments are less, we are getting franchise.<\/p>\n

Vijay Bansal<\/strong><\/p>\n

Okay. Sir, thank you.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Thank you,<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from the line of Ankit Shah from White Equity Investment Advisors. Please go ahead.<\/p>\n

Ankit Shah<\/strong><\/p>\n

So thank you for taking a follow up. So the OPEX cost has been under tight control. Can you help us understand how you are achieving this and the trajectory we going forward? Sir, this is your. Regarding CAPEX cost, opex, opex so employee cost and other exp.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Yes, yes, yes, yes. So overall our cost has been. We are maintaining our overall cost. Obviously when the sales is going higher side in terms of percentage it comes up. Like my retail cost last year was 34%. This year came down to 34. So you know we are always being known as a very tight negotiators. And so that OPEC cost has been maintained. We have very fixed parameter in terms of operating front end cost. It came down the moment sales goes up 34 to 33%. We have 8% of the back end corporate cost.<\/p>\n

These are the cost which have been under control. Yeah,<\/p>\n

Ankit Shah<\/strong><\/p>\n

Got it. And we expect the same trajectory, the same kind of operating leverage to play out in the next two, three years.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Absolutely, absolutely. In terms of percentage, if you’ll say it would be. We are hoping not to cross that. Maybe plus minus 1% it is different. However, largely it will be in the same range.<\/p>\n

Ankit Shah<\/strong><\/p>\n

Got it. So can you throw some light on footwear sales? Can you give the numbers and the expectation for FY27<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Footwear? Right.<\/p>\n

Ankit Shah<\/strong><\/p>\n

Yes, yes.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

And this year we did 14cr. So there is 40% growth in the two year sales.<\/p>\n

Ankit Shah<\/strong><\/p>\n

Right. And what is the expectation for FY27?<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

So in the same way like this year, last year it is that we have done approximately, It’s a start one and a half percent. This year we’re almost on the target of 2%. Going forward we have a target to increase it maybe end of this financial year. 4%. 2%. We have plans. Yeah,<\/p>\n

Ankit Shah<\/strong><\/p>\n

Got it. Okay. So we would be introducing this more across more and more stores or all family stores. And how is it?<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

We are planning it majorly for the online sales because we are getting online traction more in the footwear. So growth we are forecasting from the online channel.<\/p>\n

Ankit Shah<\/strong><\/p>\n

Got it, got it. And so can you help us understand a little bit more on the kids wear piece? How is it tracking and you know, how are the numbers going? It’s we,<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

We are around 2, 2 to 3% with total sales. So we are opening new family stores. So last year also for 45% family stores are we total score 45% with family stores. So in the family stores we keep kids wear. So kids we’re sale is going to going to grow. But next year we see it around coming to the 4% around 4, 4 1\/2% of total sales.<\/p>\n

Vijay Bansal<\/strong><\/p>\n

Okay. Okay, that’s it from my side. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from the line of Srinjana Mittal from Ms. Capital. Please go ahead.<\/p>\n

Shrinjana Mittal<\/strong><\/p>\n

Hi. Thank you for the opportunity and congratulations to the team for strong. I have two questions. So Shavendavi, if you can explain to me that the gross margin has increased from 53 54% to 57% this quarter. So roughly around 350 400bps improvement from last year. And also seasonality also if I check this quarter, gross margins are generally on the lower side compared to the other quarters. Right. So what, what has led to this higher gross margin in this quarter? Is it a mix LED thing or is it also because the footfall was good?<\/p>\n

So the discount mix percentage was on the lower side? Yeah. This would be my first question.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

So you are talking about Q4, right?<\/p>\n

Shrinjana Mittal<\/strong><\/p>\n

Q4, yes. Q4,<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Yeah, Q4. So one thing is that there is some obviously better efficiency mix. Is there? It’s a mix of efficiency as well as some correction in sizing. CSC has also helped a little bit. So these are the mix of these combinations. All three combinations. So that is why Q4 was better in terms of gross margin. But overall going forward this margin is to be maintained.<\/p>\n

Shrinjana Mittal<\/strong><\/p>\n

Understood. And when you say efficiency you’re talking about in procurement.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

I would say rather than efficiency. I will have, I will say better product mix, higher margin, little bit almost well, but little slightly on a product mid side.<\/p>\n

Shrinjana Mittal<\/strong><\/p>\n

Understood. Rest of the details.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

If you want I can take it separately.<\/p>\n

Shrinjana Mittal<\/strong><\/p>\n

Sure, sure. Yeah. The second question I had Shirendraji was E Commerce sales number, if you can share for this quarter and last year, same quarter, the absolute sales number. E Commerce<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Absolute number for the quarter only. Right?<\/p>\n

Shrinjana Mittal<\/strong><\/p>\n

Yeah, for the quarter.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

So last year actually as I explained earlier as well, my last year online numbers if I take online number was 988 10cr. Broadly you take this year it end up with the 11cr. Right. So the growth is approximately 10%. But in terms of number of leases, if I’ll go my growth is approximately 13%. Because explained earlier as well because Myntra has major players which Mintra and Flipkart is having 70% of the total 65 70% contribution. They have changed the billing pattern. I explained last time as well.<\/p>\n

Shrinjana Mittal<\/strong><\/p>\n

Overall<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

If I take it in volume, that is approximately 12% growth in quarter, quarter as well. 15% impact.<\/p>\n

Shrinjana Mittal<\/strong><\/p>\n

Thank you. Thanks for taking a question.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from the line of Rajesh, an individual investor. Please go ahead. Mr. Rajesh, your line has been unmuted. Please go ahead with your question.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Hello, good evening, can you hear me?<\/p>\n

Operator<\/strong><\/p>\n

Yes, please.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Yeah,<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yeah. So more of a macro perspective. Just wanted to understand from you. Given the current global situation, which obviously has led to some sort of inflationary pressure on the economy, do you all believe this inflationary pressure affects a retail format like Canterbury means? Does it impact the demand scenario or the demand perspective at at your stores as well or expected to impact?<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Yeah, there can be an impact on the demand, on the good force. But we believe due to our marketing activities and due to the our efficient, efficient front end practices, we can manage this sluggish demand if it happens in the future.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

So basically then a follow up to that is with additional marketing and everything. Do you expect that there’ll be some pressure on the margins with OPEX cost going up? And so if you can just give me a guidance for say FY27 given the current situation on both sales as well as ebitda.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

So the guidance is simple. These are the effects if you seek. We’ve never been affected by these values. Few of the months we have very good same store sales growth which will be compensated by in few months. Right. First quarter was great. Then overall 5 to 6% of the same store sales growth margins would have been there. Yes, these difference on a global level would continue. Number two, whatever the numbers we have been committing in terms of margins, that is a sustainable number. We have completely focusing on our gross margins which is approximately 60%.<\/p>\n

The moment we will be able to maintain that our EBITDA margin 30 plus percent will always be on the card.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Sorry, but I just heard that basically additional marketing expenses would be given towards 1.7%<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

As of now. 1.7% as of now. It may go up to 2% 1.8% plus minus zero 1.2%, not beyond that.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay, and just to follow up on the guidance, what’s the projected SSG for FY27?<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

We are expecting to take it forward from 5 to 6% otherwise 5 to 6% would have been maintained. It may go up to 7, 8% but it’s too early for this. But minimum 5, 6% would have been there.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

And so just last question given there are a lot many categories which is kind of new or more of experimental categories and everything you think broadly on the inventory front or basically do you see an expansion of working capital cycle for your means predominantly from an inventory perspective going into family stores where probably more inventory would have to be stored and everything. So given all these factors do you see a working capital expansion cycle<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

From last year for last 34 years? We have the best days financially in terms of inventory days as well as working capital cycle. Last year inventory days was 123 days 24 days. In fact we came it down to 109 days. Our working capital was approximately 115 days this year which came down to 105 days. We are continuously working on it to maintain it more always we said it should not cross beyond 120 and we are trying to reduce so significantly we reduced it. We optimize this. So approximately near this only 110 days in terms of finished goods inventory as well as 105 days of working capital approximately would be around this.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Sorry I missed the last part.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

105 days of the working capital for this financial year 110 days was the inventory and it would be around this.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Understood that would be all from end. Thank you so much sir. Thank you so much.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Thank you sir. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Before we take the next question we would like to remind participants that you may press char and one to ask a question. The next question is from the line of Abhijain from AJ Capital. Please go ahead.<\/p>\n

Ankit Shah<\/strong><\/p>\n

Thank you for the opportunity<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Again. I just want to understand that you know, given the inflation headwinds and problems and obviously it will become more sticky in FY28 than it is in FY27. Is there any plan or are you monitoring or does it help if you upload upfront your capex and your store expansion store opening does it make sense to increase the pace in FY27 and then weight in what in FY28 basis how the inflation sticks out? Because I think cost optimization, that is<\/p>\n

Ankit Shah<\/strong><\/p>\n

The one part of cost optimization that will really help you sustain your margin going forward. So any thoughts around that?<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Are you asking about the capex expense going up due to the inflation? Yeah, the store<\/p>\n

Ankit Shah<\/strong><\/p>\n

Expansion. So whatever is planned. I mean does it make sense to front load it in FY27 given that, you know inflation is expected to be globally and obviously the cost will rise and the interest cost will rise and all of that will contribute to, you know, cost.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

So just<\/p>\n

Ankit Shah<\/strong><\/p>\n

For cost of an ization basis I’m just thinking<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Interest cost we don’t have because we are debt free and the capex we we have planned to lower our capex per square feet. Because we have right now adopted a new furniture fixture category which is. Which has slightly less cost than what we are doing in the previous year. So CapEx we are per square feet. We think we go down in this year because the new fixed share design sign has been adopted with a lesser post. So. So this is how we plan to mitigate the inflationary pressure if it comes in the coming quarters.<\/p>\n

Vijay Bansal<\/strong><\/p>\n

Okay, thank you sir. So we have a<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Very clear bifurcation what we are going to spend, how we are going to utilize our cash flows. That is very clearly bifurcated. How much is. Because everything is from the interval network. Obviously we are the same. So 1800 is the CapEx per square feet if we are adding 90, 91 or 100 stores. So that is not. So there’s no in terms of mixing of OPEX or substantiating or replacing OPEX with capex. So things are as per plan, no issue. So it will come down as well. We will have some saving maybe in the capex one.<\/p>\n

So going forward there’s no change in plan in terms of OPEX percentage as well as capex for cash flow utilization purpose?<\/p>\n

Ankit Shah<\/strong><\/p>\n

No, that is helpful. Just that FY20, it looks like a monster thing are sitting out there and nobody knows how it will pan out<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Given the global inflation headwinds that we are seeing. So I’m just thinking that does it help to preempt our efforts towards that and mitigate whatever we can right now in FY27? Thank you. Can you please. Okay. Thank you sir.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Participants who wish to ask a question may press charan1 at this time. The next question is from the line of Dharmesh Shah from Equity. Please go ahead. Mr. Dharmesh, your line has been unmuted. Please go ahead with the question.<\/p>\n

Ankit Shah<\/strong><\/p>\n

Congratulations. Unexpected line on the guided line. I have couple of questions. First is just wanted to understand what would be the rent.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

So your voice has been breaking. What would be the rent?<\/p>\n

Operator<\/strong><\/p>\n

Mr. Dharmesh, may we request you use the microphone to ask a question?<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Yes sir. Let me see.<\/p>\n

Ankit Shah<\/strong><\/p>\n

Am I audible better?<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Yes, better now.<\/p>\n

Ankit Shah<\/strong><\/p>\n

Yeah. So my first question is what is the current rent? 1st person<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Current rent per square feet it has came down to 150 rupees. Yeah, 100. 115 rupees per square feet for the financial year FY26.<\/p>\n

Vijay Bansal<\/strong><\/p>\n

Has it gone?<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Last year it was 120. This year it’s come down to 115.<\/p>\n

Ankit Shah<\/strong><\/p>\n

Okay. Also in previous calls also and current call also<\/p>\n

Vijay Bansal<\/strong><\/p>\n

Spoken about<\/p>\n

Ankit Shah<\/strong><\/p>\n

Increasing the store size. Just wanted to understand.<\/p>\n

Operator<\/strong><\/p>\n

Sorry to interrupt. Mr. Dharmesh, please use your handset while you ask a question.<\/p>\n

Ankit Shah<\/strong><\/p>\n

Am I better?<\/p>\n

Vijay Bansal<\/strong><\/p>\n

Yes sir.<\/p>\n

Ankit Shah<\/strong><\/p>\n

I just wanted to understand on the new store versus old store. In terms of the larger store which can be using visible is the older one smaller in size benefit which we are deriving from.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

So now the concept is not exactly the benefit. We are opening bigger stores now for last two years. Our average size. If you say as a journey, it was starting in last year from 1100 square feet average size. This year we end up with 1400. At my average size for last two years, my average opening size is 1700 square feet. Obviously we are opening more families too. Right. So the benefit is that we have a better portfolio of family stores where sizes are not available. It could be a men like Maharashtra Gujarat where big properties are not available.<\/p>\n

We have better EBITDA margin in the bigger stores.<\/p>\n

Ankit Shah<\/strong><\/p>\n

Profitability<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Is higher in the bigger stores. And EBITDA margins are lower in the smaller stores. That’s why we are opening bigger stores.<\/p>\n

Ankit Shah<\/strong><\/p>\n

Sure. So any expected and actual should deriving<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Expected EBITDA for a company level?<\/p>\n

Ankit Shah<\/strong><\/p>\n

No bigger size,<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

My bigger family stores. EBITDA from men’s store. If you say that is plus one and a half percent. That is what the large difference is. But it is not pure. This is not a pure parameter for opening a store. There are a lot of parameters. But obviously when we are opening the family store we are giving slightly better EBITDA margins. New<\/p>\n

Ankit Shah<\/strong><\/p>\n

Corporate offices supposed to operationalize. Have we moved into the new corporate office? Come warehouse.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

We are having this conference run from the new corporate office itself only.<\/p>\n

Ankit Shah<\/strong><\/p>\n

Oh great, great, great. So was this capitalized in FY26 or.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

All the building has been capitalized. Overall the budget was for the building barring land was approximately 5050 to 55. Almost everything has been done and it has been capitalized in the book and balance sheet has been taken the depreciation effect of this as well.<\/p>\n

Ankit Shah<\/strong><\/p>\n

Okay, sir. In terms of warehouse, I understand that the new office also had a warehouse. So what would be how large is the warehouse? How much store additional store it can cater to?<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

So this building is 11 story building where we are having four floors for corporate office. And four floors have been used for online warehousing. So this has been completely automized with wms. So this is being building four floor has been dedicated for the online warehousing. Our offline warehouse is still separate.<\/p>\n

Ankit Shah<\/strong><\/p>\n

Does that mean we will be catering online? Okay, great, great, great. One last question. There was this loan is it given to some related party or it’s an external<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Unrelated party. Non related party. For better returns for one year only, it would be closed in this financial year.<\/p>\n

Ankit Shah<\/strong><\/p>\n

Sure. And last question, if I may ask. What is the current inventory aging bucket? I’m more interested on knowing inventory above 180 days.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Current inventory aging bucket, Right?<\/p>\n

Ankit Shah<\/strong><\/p>\n

Yeah. So essentially about 180 days. How much inventory would be there?<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

I am my 70% of my total inventory. 70 to 75% is within the range of one and a half year. And then we have obviously inventory provisioning policy for age inventory which is in place.<\/p>\n

Ankit Shah<\/strong><\/p>\n

And what is the provisioning policy, if I may ask?<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Up to one year. That is all fresh materials, zero provision being made. One to three years, 10% provisioning we are making. And anything above three years, whatever the 50 years provisioning has been made of cost which is actually going to be realizable. So one to three years, 10%. Above three years, 50%.<\/p>\n

Ankit Shah<\/strong><\/p>\n

Sure, sure. That’s it. From my side. Thanks and all this.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Thank you sir.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from the line of Akshay and individual investor. Please go ahead.<\/p>\n

Vijay Bansal<\/strong><\/p>\n

Hello sir. Since we shifted to new warehouse and corporate office, Will there be any any saving in lease cost in future<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Reduction in lease cost, right?<\/p>\n

Vijay Bansal<\/strong><\/p>\n

Yeah,<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Yeah, it would be there. My earlier office building was on lease. So that saving would have been there.<\/p>\n

Vijay Bansal<\/strong><\/p>\n

How much will be the saving and by when we will realize it. Like quarter two or<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

1.5 to 2 PR annually.<\/p>\n

Vijay Bansal<\/strong><\/p>\n

Okay. And this will be from quarter two or from quarter one onwards.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Quarter two onwards, quarter two or maybe quarter three onwards if at larger select.<\/p>\n

Vijay Bansal<\/strong><\/p>\n

Okay. And this is only for corporate office and about of warehouse.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

So as we explained like say we were having earlier office, right? Earlier office was there as well as offline warehouse would be there. The new this office we moved, we have a 50% of the office space as a 50% of the E commerce warehousing space. Right. And then the offline would be moved to our factory that is already warehouse and another warehouse. So this is how we are being managed.<\/p>\n

Vijay Bansal<\/strong><\/p>\n

Okay. So this 1.5 cr is total savings.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Annual rental is approximately 2 cr. We are going to say<\/p>\n

Vijay Bansal<\/strong><\/p>\n

Okay. And regarding us like what is the future plan for using the cash flow? Because we have given 25cr this year to some for some intercorporate loan. So if for future cash flows, what is our plan? How we will use the use the cash flow?<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

The cash flow would have been if you see this year we are having say 50% 50 cr of my cash surplus 50% was there 50% for a need basis given to non rated party for better return. But going forward we have a plan to make a you know better return in terms of market. We will have extension plan. Things are in place which would come from Q3 onwards.<\/p>\n

Vijay Bansal<\/strong><\/p>\n

Okay. Okay. So we’ll do more Catex something.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

100 stores has always been on the plan then the baby numbers going forward. But cash surplus by the end of this balance sheet would be good. Amount of there in the balance sheet and we’ll come to utilizing how better it is. We are obviously going to have a return on that. Whatever the best better return would have been there.<\/p>\n

Vijay Bansal<\/strong><\/p>\n

Okay. And last question is based around 10cr in CWIP in balance sheet. Is there anything in progress or like what is? Yes, we<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Are building another in our existing factory. So largely part of 10cr in for this. My Bajukar warehouse as well as few stores are in pipeline. One and a half crore is a part of them which we are going to be open in the month of April in the few months. So that is there. Then some work is going in corporate office till C12. So that is largely 50% part with factory. And the balance is for this office as well as new stores.<\/p>\n

Vijay Bansal<\/strong><\/p>\n

Okay. And that will start in Q1 you said right.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Sorry.<\/p>\n

Vijay Bansal<\/strong><\/p>\n

The remaining portion will start in Q1 this. This quarter.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Which delivery portion?<\/p>\n

Vijay Bansal<\/strong><\/p>\n

Yeah,<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

This is keep on going. Now we are keep on opening the store. So always WIP would have been there. Some government is going on in factory as well with some WIFL post 564 would always be<\/p>\n

Vijay Bansal<\/strong><\/p>\n

Okay. Okay, that’s it. Thank you.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Thank you sir.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from the line of Satyajit Sen from Value Research. Please go ahead.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Hello. Yes please. Yes, hello.<\/p>\n

Ankit Shah<\/strong><\/p>\n

Am I audible?<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Yes, please go ahead. Yeah.<\/p>\n

Ankit Shah<\/strong><\/p>\n

Thank you. Thank you. Thank you. My question. Just a clarification question. So in the latest presentation the sales per square foot for FY25 you have taken as a 753 rupees. But in last last year’s presentation it was 784 rupees. Have we just expanded the base for the square feet that we have taken?<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Yes. Actually when we are moving to new software we reassessed all the area. So there was some old store square area. Then we expanded this area. So 5% of my total area you can say 20,000 square feet on our old source has been expanded. That is why marginally per square feet is looking down. So we corrected everything.<\/p>\n

Ankit Shah<\/strong><\/p>\n

All right. My next question would be just. I just wanted to Know how far do we reach maturity for a larger family owned stores?<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

So broadly, maturity period is still around one and a half year to two years for maturity when they are started giving their full sales. However, the breakeven period is six months for any of the stores. So largely these parameters are same whether for men’s or family.<\/p>\n

Ankit Shah<\/strong><\/p>\n

All right, thank you. Thank you,<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Sir.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from the line of Ankit Shah from White Equity Investment Advisors. Please go ahead.<\/p>\n

Ankit Shah<\/strong><\/p>\n

Thanks for taking a follow up, sir. Are we expanding our manufacturing capacity?<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

So manufacturing is still. We are maintaining 60, 40, 60% its own manufacturing through our dedicated Badu Gar factory which has a capacity of producing approximately 18 to 20 lakhs, which as of now is fulfilling our 25% requirement requirements. Plus my job worker is 35%. So we are controlling own manufacturing through job worker as well as factory which is largely 60% and knits and accessories is 40%. And going forward also this ratio is largely maintained.<\/p>\n

Ankit Shah<\/strong><\/p>\n

Whatever we are manufacturing at our factory, let’s say right now it could be around 25% the 18 to 20 million pieces. So should that be contributing to better margins for us?<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Yes, that is a specialized food unit. Obviously suits are having a very. That’s a specialized food plant. They are having better margins. Yes. Okay. And it is difficult for other units. You can have a small, small unit for sure, trouser and other things. But it is a completely technical or imported machine. It’s a big setup. So that is why the moment our requirements will increase, we are expanding our existing facility. They have better margins.<\/p>\n

Ankit Shah<\/strong><\/p>\n

Got it, got it. You said this, this manufacturing is for suits blazers.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

So where, what. This is the facility we are. This is what we are. Right. This is specialized food plant. However, there we produce food. Coarse blazer in category formal trouser.<\/p>\n

Ankit Shah<\/strong><\/p>\n

Got it, got it, got it. Yes. Okay, so now you know, now that we are likely to have a cash surplus, are we looking at expanding the capacity here or insourcing more and more production at some stage, maybe one or two years down the line.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

We are actually core retailers. So our focus area is detailed,<\/p>\n

Ankit Shah<\/strong><\/p>\n

But<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

We need to largely 60% as I said would be maintained but largely would be outsourced to the job worker rather than establishing one more own brand.<\/p>\n

Ankit Shah<\/strong><\/p>\n

Got it, got it. So we want to focus on retail and whatever we have on the manufacturing side, broadly, we continue with that. Is that understanding? Right?<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Yes, yes, yes,<\/p>\n

Ankit Shah<\/strong><\/p>\n

Sorry. Job workers are going to increase. Got it, got it. Makes sense. In the earlier calls, you know, you were talking about trying to Explore export opportunity. And you were trying to explore something in Nepal. Can you update us on that or any other export plan?<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

We still have A4 exports in Nepal. Nepal is that he has a master Sangali where we can. We are exploring it but on a immediate basis. India is so big we are expanding. Thousand crore is the target. Then we have to make it forward. But we are exploring anything. Good opportunity comes, we are definitely going to go for that.<\/p>\n

Ankit Shah<\/strong><\/p>\n

Got it. You said we already have four stores in Nepal, is that right?<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

So we have a mix of multi brands and ebos there. So multi brand and evo combined mixed four.<\/p>\n

Ankit Shah<\/strong><\/p>\n

Oh, okay, okay. And you were looking at appointing a master franchise or something. So is that. Can you give more detail if that’s possible?<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Master franchise for overseas you are asking about?<\/p>\n

Ankit Shah<\/strong><\/p>\n

Yeah, either overseas or Nepal in particular.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

So yeah, for the Nepal we have a selling distribution kind of model. Not exactly the master franchise. And for the other countries we are. We are not doing business in the other countries. But yes, when we will do we have to figure out whether we possibly the joint venture kind of model or the master in JC kind of model. So that we will figure out with the partner we will be working.<\/p>\n

Ankit Shah<\/strong><\/p>\n

Got it. Got it. And what would be contribution from Nepal to our consolidated sales? Would it be 1% or it would be negligible?<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

No, no, no, no. As I decided It’s a hardly three store. We are comparing 650 stores to three stores. But we are doing approximately on annual basis 1.5 year of the business. We do not have any retail cost. So their transfer pricing is much lesser than what we are selling to our over the counter.<\/p>\n

Ankit Shah<\/strong><\/p>\n

Got it sir. Any progress he made on fast fashion? That is another that we were exploring. So can you share us some details on that<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Fast fashion category? We are not exploring because we always said that we are into the basic kind of session. So we are brand which are closer to the collection like Uniqlo. We are not doing products like Zara which are into the fast session. So we want to remain into this category. If<\/p>\n

Ankit Shah<\/strong><\/p>\n

Got it right. That’s it. Thank you so much.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Thank you sir.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. As there are no further questions from the participants, I now hand the conference over to Mr. Deepak for closing comments.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Fy 26 has reinforced the enduring strength of contagion brand delivering record performance, strong consumer traction and robust financial results. Guided by Vision 2027 we remain focused on accelerating expansion, strengthening customer engagement, driving sustainable long term value creation. We thank our shareholders for the continued trust and look forward to building on this momentum in the years ahead. We hope we have been able to answer your queries. Please feel free to reach to our CFO or IR team for any clarification or feedback.<\/p>\n

Thank you all.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. On behalf of Cantable Retail India limited that concludes this conference. Thank you for joining us. And you may now disconnect your lines.<\/p>\n

Shivendra Nigam<\/strong><\/p>\n

Thank you, sir.<\/p>\n","protected":false},"excerpt":{"rendered":"

Note: This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon. Cantabil Retail India Ltd (NSE: CANTABIL) Q4 2026 Earnings Call dated May. 19, 2026 Corporate Participants: Vijay Bansal \u2014 Chairman & Managing Director Shivendra Nigam \u2014 Chief Financial Officer Analysts: Ankit Shah \u2014 Analyst Shrinjana […]<\/p>\n","protected":false},"author":2377,"featured_media":147581,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6349],"tags":[10169,9175,9104,9092,14492,10089],"class_list":["post-183510","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-transcripts","tag-earnings","tag-earnings-call","tag-earnings-conference","tag-earnings-transcripts","tag-financial-results","tag-quarterly-earnings"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":146253,"url":"https:\/\/alphastreet.com\/india\/earnings-cantabil-retail-india-limited-nse-cantabil-q4fy23-results-out-total-income-rises-29-yoy\/","url_meta":{"origin":183510,"position":0},"title":"Earnings | Cantabil Retail India Limited (NSE: CANTABIL): Q4FY23 Results Out; Total Income rises 29% YoY.","author":"Divyansh_Kasana","date":"May 16, 2023","format":false,"excerpt":"Cantabil Retail India Limited, established in 1989, is a renowned company in the readymade garments industry. With its inception in 2000, the company has focused on manufacturing and retailing high-quality apparel. Over the years, Cantabil has gained a strong presence in the Indian market, offering a wide range of clothing\u2026","rel":"","context":"In "Earnings"","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/4b0b185d-fd09-4e7e-947d-ef141089055f-6-1.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/4b0b185d-fd09-4e7e-947d-ef141089055f-6-1.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/4b0b185d-fd09-4e7e-947d-ef141089055f-6-1.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/4b0b185d-fd09-4e7e-947d-ef141089055f-6-1.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/4b0b185d-fd09-4e7e-947d-ef141089055f-6-1.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/4b0b185d-fd09-4e7e-947d-ef141089055f-6-1.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":156010,"url":"https:\/\/alphastreet.com\/india\/cantabil-retail-india-ltd-q2fy24-19-fall-in-profits\/","url_meta":{"origin":183510,"position":1},"title":"Cantabil Retail India Ltd Q2FY24; 19% fall in Profits","author":"Divyansh_Kasana","date":"November 9, 2023","format":false,"excerpt":"Cantabil Retail India Ltd was incorporated in 1989 and started its readymade garments manufacturing and retailing business in the year 2000. Financial Results: Cantabil Retail India Ltd reported Revenues for Q2FY24 of \u20b9135.11 Crores up from \u20b9116.00 Crore year on year, a rise of 16.47%. Total Expenses for Q2FY24 of\u2026","rel":"","context":"In "AlphaGraphs"","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/11\/image-123.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/11\/image-123.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/11\/image-123.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/11\/image-123.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/11\/image-123.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/11\/image-123.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":153650,"url":"https:\/\/alphastreet.com\/india\/cantabil-retail-india-ltd-q1fy24-14-fall-in-profits\/","url_meta":{"origin":183510,"position":2},"title":"Cantabil Retail India Ltd Q1FY24; 14% fall in Profits","author":"Divyansh_Kasana","date":"August 14, 2023","format":false,"excerpt":"Cantabil Retail India Ltd was incorporated in 1989 and started its readymade garments manufacturing and retailing business in the year 2000. Financial Results: Cantabil Retail India Ltd reported Revenues for Q1FY24 of \u20b9112.00 Crores up from \u20b9101.00 Crore year on year, a rise of 10.89%. Total Expenses for Q1FY24 of\u2026","rel":"","context":"In "AlphaGraphs"","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-991.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-991.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-991.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-991.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-991.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-991.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":179936,"url":"https:\/\/alphastreet.com\/india\/cantabil-expands-margins-as-third-quarter-revenue-and-profit-increase\/","url_meta":{"origin":183510,"position":3},"title":"Cantabil expands margins as third-quarter revenue and profit increase","author":"Staff Correspondent","date":"February 6, 2026","format":false,"excerpt":"Cantabil Retail India Ltd. (NSE: CANTABIL) reported third-quarter fiscal 2026 results that showed higher revenue, improved margins, and continued store expansion. The quarter combined volume-led growth with operating leverage, supporting a rise in profitability across the retail network. Latest Quarterly Results Revenue from operations for the quarter ended Dec. 31,\u2026","rel":"","context":"In "Analysis"","block_context":{"text":"Analysis","link":"https:\/\/alphastreet.com\/india\/category\/stock-analysis\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":174983,"url":"https:\/\/alphastreet.com\/india\/cantabil-retail-india-ltd-cantabil-q2-2025-earnings-call-transcript\/","url_meta":{"origin":183510,"position":4},"title":"Cantabil Retail India Ltd (CANTABIL) Q2 2025 Earnings Call Transcript","author":"News desk","date":"January 22, 2026","format":false,"excerpt":"Cantabil Retail India Ltd (NSE: CANTABIL) Q2 2025 Earnings Call dated Nov. 13, 2024 Corporate Participants: Vijay Bansal \u2014 Chairman & Managing Director Shivendra Nigam \u2014 Chief Financial Officer Analysts: Renuka Sivsankar \u2014 Analyst Shrinjana Mittal \u2014 Analyst Unidentified Participant Giriraj Daga \u2014 Analyst Aman Vishwakarma \u2014 Analyst Dhiral Shah\u2026","rel":"","context":"In "Earnings Call Transcripts"","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":65860,"url":"https:\/\/alphastreet.com\/india\/key-highlights-from-infosys-infy-q1-2021-earnings-results\/","url_meta":{"origin":183510,"position":5},"title":"Key highlights from Infosys (INFY) Q1 2021 earnings results","author":"Staff Correspondent","date":"July 15, 2020","format":false,"excerpt":"Infosys (NYSE: INFY) reported earnings results for the first quarter of 2021 today. Revenues declined 0.3% to $3.12 billion. Net profit after minority interest was $558 million while diluted EPS was $0.13. The company expects revenue growth in the range of 0-2% in constant currency for fiscal year 2021 while\u2026","rel":"","context":"In "AlphaGraphs"","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Infosys reports Q1 2021 earnings results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/07\/Infosys-Q1-2021-Earnings-Infographic.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/07\/Infosys-Q1-2021-Earnings-Infographic.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/07\/Infosys-Q1-2021-Earnings-Infographic.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/07\/Infosys-Q1-2021-Earnings-Infographic.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/07\/Infosys-Q1-2021-Earnings-Infographic.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/183510","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/2377"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=183510"}],"version-history":[{"count":1,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/183510\/revisions"}],"predecessor-version":[{"id":183512,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/183510\/revisions\/183512"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/147581"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=183510"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=183510"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=183510"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}