Vedant Fashions Ltd (Manyavar): Q1 FY27 Earnings Briefing

Vedant Fashions Ltd reported a steady first quarter for FY27 (ending June 30, 2026), demonstrating healthy margin expansion and solid bottom-line growth, even amid a slight rationalization of its retail footprint. 1. Financial Performance Net Profit (PAT): Grew by 14.7% year-on-year (YoY) to ₹80.6 crore, up from ₹70.3 crore in Q1 FY26. The PAT margin stood at a robust 26.7%. Revenue: Rose 7.2% YoY to ₹301.4 crore, compared to ₹281.2 crore in the corresponding quarter last year. EBITDA & Margins: Operating profitability showed clear improvement. EBITDA increased 8.6% YoY to ₹131 crore, driving an EBITDA margin expansion of 60 basis points to 43.5% (up from 42.9% YoY). 2. Operational Metrics & Footprint Sales Growth: Overall retail sales posted a 3.4% YoY growth. Crucially, domestic Same-Store Sales Growth (SSSG) remained positive at 3.8%. Store Network: The core domestic Exclusive Brand Outlet (EBO) network spans 1.67 million sq ft across 501 stores in 205 cities (excluding 136 Shop-in-Shop stores and 14 international locations). Space Rationalization: The quarter saw a strategic optimization of retail space. The domestic EBO footprint saw a net reduction of 15,100 sq ft, while Shop-in-Shop (SIS) and international footprints declined by 5,800 sq ft and 7,700 sq ft, respectively. 3. Corporate Governance & Market Action Leadership Continuity: Ravi Modi has been reappointed as Chairman and Managing Director (CMD), ensuring stability in the company's strategic direction. Stock Action: Shares exhibited mild optimism ahead of the weekend, closing at ₹406.70 (up 1.12%) on the BSE on Friday, July 25.