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Vedant Fashions Limited (MANYAVAR) investor relations material
Vedant Fashions Limited Q2 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 25/26 earnings summary31 Oct, 2025
Executive summary
Q2 FY26 sales grew 4.6% year-over-year, with H1 FY26 sales up 13.8% year-over-year, and revenue from operations in H1 FY26 at INR 5,443 million.
Operations were impacted by a GST rate change, causing a 15–20 day dispatch disruption in Q2 and requiring extensive barcode and system updates.
The company maintains a dominant position in the Indian wedding and celebration wear market, with a diversified brand portfolio and pan-India presence.
Strategic focus on customer experience, retail training, data-driven merchandising, and omnichannel integration drove consistent retail performance.
Unaudited financial results for the quarter and half-year ended September 30, 2025, were approved by the Board on October 30, 2025.
Financial highlights
Q2 FY26 revenue from operations was INR 2,632 million, with net profit at INR 702.57 million and EPS at INR 2.89.
H1 FY26 revenue from operations was INR 5,443 million, up 7.2% year-over-year; PAT stood at INR 1,263 million.
H1 FY26 gross margin was 66.1%, EBITDA margin 43%, and PAT margin 23.2%.
SSG for H1 FY26 was 8.2% year-over-year; Q2 FY26 SSG was -2.0% year-over-year.
Cash conversion ratio for the trailing 12 months was 79%.
Outlook and guidance
Management expects H2 to be the larger half of the year, with all strategic efforts focused on driving growth.
Growth strategy focuses on retail expansion in India and abroad, up-selling, cross-selling, and targeted marketing.
No additional CapEx is planned beyond the INR 11 crore spent on flagship COCO store experiments in Bangalore.
Long-term SSG target is mid-to-high single digits (8–9%), with store rationalization expected to complete in 6–7 months.
The company continues to focus on branded fashion apparel and accessories, with ongoing integration of the recently amalgamated subsidiary.
Quantify Q2 2024 revenue merger impact
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Next Vedant Fashions Limited earnings date
Q3 25/2630 Jan, 2026
Next Vedant Fashions Limited earnings date
Q3 25/2630 Jan, 2026
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Frequently asked questions
Vedant Fashions Limited, widely recognized by its brand name Manyavar, is a leading name in the Indian celebration wear market, particularly known for its men's Indian wedding and celebration wear. The company was founded in 2002 and has since established a significant presence across India with its flagship brand Manyavar leading the way. Manyavar specializes in a wide range of men's ethnic and celebration wear, including Indo-western outfits, sherwanis, kurtas, and accessories like juttis and safa. In addition to Manyavar, Vedant Fashions has expanded its brand portfolio to include Mohey, which focuses on women's ethnic and celebration wear, Mebaz, a heritage brand offering a one-stop shop for family celebration wear, and Twamev, which bridges the gap between ethnic wear and couture with luxurious occasion wear for both men and women. The company is headquartered in Kolkata, West Bengal, and its shares are listed on the BSE and NSE.
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