Vedant Fashions (Manyavar) Profit Up by 12.4% in June Quarter

Kolkata, July 30, 2025 – Vedant Fashions Ltd (NSE: MANYAVAR) reported a 12.4% year-on-year (YoY) rise in standalone net profit to ₹702.6 million for Q1FY26, driven by healthy revenue growth and a sharp uptick in other income. The company also saw a steady improvement in operating margins – reflecting efficient cost management and strong brand traction across its ethnic wear portfolio.

The company, known for its flagship brand Manyavar, continues to benefit from a revival in wedding and festive wear demand. It also remains focused on expanding its exclusive brand outlets (EBOs) in Tier-II and Tier-III cities to strengthen its pan-India footprint.

Q1 FY26 Financial Performance

In Q1 FY26, Vedant Fashions Ltd reported a total income of ₹3,070.2 million, marking a 17.5% year-on-year (YoY) growth, driven by strong operational performance and a 20.4% rise in other income to ₹258.3 million. Revenue from operations stood at ₹2,811.9 million, up 17.3% from ₹2,398.2 million in Q1 FY25. Profit before tax rose 11.4% YoY to ₹925.1 million, while net profit increased by 12.4% to ₹702.6 million, compared to ₹624.9 million in the same quarter last year. Basic earnings per share (EPS) for the quarter stood at ₹2.89, up from ₹2.57 in Q1 FY25.

Segment and Cost Analysis

Vedant Fashions Ltd, which operates exclusively under the “Branded Fashion Apparel and Accessories” segment, saw a notable increase in operating expenses during Q1 FY26. Other expenses rose sharply by 35.8% YoY to ₹673.5 million; driven by higher marketing and promotional activities aimed at expanding brand visibility and store reach. Employee benefit expenses saw a moderate increase to ₹155.7 million. In contrast, material costs remained under control – with raw materials and accessories expenses rising by just 6.1% YoY. This is reflecting efficient sourcing strategies and stable input prices.

Share Capital and Merger Update

In Q1 FY26, the company allotted 5,415 equity shares under its employee stock option scheme; reinforcing its long-term employee retention initiatives. Additionally, Vedant Fashions restated its Q1 FY25 financials following the successful merger of Manyavar Creations Pvt Ltd, which received final approval from the National Company Law Tribunal (NCLT). The merger has been given retrospective effect from April 1, 2024, streamlining operations and strengthening the company’s unified brand presence in the ethnic wear market.

Stock Movement

As of 3:30 PM IST on July 30, shares of Vedant Fashions Ltd closed at ₹790.00, up 4.71% or ₹35.50 for the day, after trading between ₹749.00 and ₹804.00; the stock opened at ₹754.50 and had a market cap of ₹19,170 crore, with a P/E ratio of 49.44.

Management Commentary

Ravi Modi, Chairman and Managing Director, reaffirmed the company’s strategy of leveraging brand strength and operational scale to drive growth. The firm remains committed to enhancing shareholder value through continued innovation and retail expansion.

About the Company

Vedant Fashions Ltd (NSE: MANYAVAR) is India’s leading ethnic-wear brand, offering celebration clothing across men, women, and kids via flagship labels such as Manyavar, Mohey, Twamev, and Mebaz. The company operates a robust omni-channel network with over 678 exclusive brand outlets (EBOs) in 256 cities globally, including 16 international stores in markets like the UAE, USA, Canada, and the UK.

REF: https://nsearchives.nseindia.com/corporate/MANYAVAR_30072025131207_Outcomeofboardmeeting.pdf

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