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Vedant Fashions (MANYAVAR) investor relations material
Vedant Fashions Q3 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 FY26 revenue was INR 4,917.09 million, with nine-month revenue at INR 10,360.52 million, reflecting 1.7% year-over-year growth; SSG for nine months stood at 1.8%.
Q3 FY26 performance was impacted by fewer wedding dates and muted consumer sentiment, resulting in a 3.8% decline in revenue from operations and a 4.5% decline in SSSG compared to Q3 FY25.
Focus remained on strengthening retail quality, selective store expansion, and rationalizing underperforming locations, with a net addition of 8,500 sq ft and a new 9,000 sq ft flagship store in Mumbai.
Integrated marketing strategies, including digital campaigns and influencer collaborations, enhanced brand visibility and consumer engagement.
Unaudited financial results for the quarter and nine months ended December 31, 2025, were approved by the Board on February 12, 2026.
Financial highlights
Q3 FY26 gross margin was 65.7%, EBITDA margin 44.6%, and PAT margin 27.4%; nine-month gross margin was 65.9% and PAT margin 25.2%.
Profit after tax for Q3 FY26 was INR 1,349 million; for nine months, INR 2,614.12 million.
Cash conversion ratio for the trailing twelve months was approximately 95%.
Basic and diluted EPS for the quarter were INR 5.55; for nine months, INR 10.75.
Q3 order performance was significantly impacted by a lack of wedding dates in December and January, affecting sales.
Outlook and guidance
Management expects normalization of store expansion and improved business quality in the next 2-3 quarters.
Focus on retail expansion domestically and internationally, up-selling, cross-selling, and disciplined acquisitions.
Continued investment in brand-building and influencer-led campaigns to drive long-term growth.
The company is monitoring the impact of new labour codes and will adjust accounting as further regulatory details emerge.
Optimism for demand revival supported by government initiatives and improving macro environment.
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