Vedant Fashions (MANYAVAR) Q4 23/24 earnings summary

Executive summary

• FY24 was a softer year: consolidated revenue increased to ₹13,675.32m from ₹13,549.30m, while PAT declined to ₹4,141.72m from ₹4,291.08m.

• Performance held up with a 67.2% gross margin and 30.3% PAT margin; operations continued to expand stores and broaden the occasion mix beyond weddings.

Financial highlights

• Consolidated PBT was ₹5,484.06m versus ₹5,758.39m; total income was ₹14,372.03m versus ₹13,951.71m.

• Consolidated PAT was ₹4,141.72m versus ₹4,291.08m; basic EPS was ₹17.06 versus ₹17.68.

• FY24 gross profit was ₹9,186m and gross margin 67.2%; EBITDA margin was 48.6% and PAT margin 30.3%.

• Operating cash flow was ₹4,830.79m; net worth reached ₹16,018.80m, while cash and equivalents including investments were ₹9,809m.

Outlook and guidance

• Management expects a return to prior growth momentum, citing resilience and continued investment in retail expansion and festive wear beyond weddings.

• Growth priorities include expanding in India and overseas, scaling emerging brands through cross-selling, targeted marketing, and disciplined consideration of acquisitions.

• Store rollout, omnichannel upgrades, data-led inventory and customer experience initiatives are positioned to support future growth; no numeric FY25 guidance is stated.