Thomas Scott India Ltd Q2 FY26 Results & Concall Highlights: Revenue, Margins & Order Book

Published 28 May 2026 | Textiles & Apparels | Market Cap: ₹444 Cr

The company is focused on high double-digit growth in sales and revenue while maintaining double-digit EBITDA margins. The company is focused on high double-digit revenue growth, targeting sustained growth for the coming financial year.

From Thomas Scott India Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.

Price

286

Market Cap

₹444 Cr

P/E Ratio

21.9

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Thomas Scott India Ltd — Quarterly revenue & net profit

Revenue Net Profit
Sep 2024
Dec 2024
Mar 2025
Jun 2025
Sep 2025
Dec 2025

Reported quarterly figures (₹ Cr). Latest: revenue ₹66 Cr, net profit ₹5 Cr.

Full financials →

📊 Revenue & Sales Performance

  • The company is focused on high double-digit growth in sales and revenue while maintaining double-digit EBITDA margins.
  • They aim to reach particular revenue levels in the coming financial year, potentially using pricing and marketing levers to achieve targets.
  • Historically, the second half (H2) of the year accounts for about 60-70% of annual revenue, driven by seasonal factors like winter wear.
  • Q2 saw strong recovery and growth supported by improved consumer sentiment and GST rate cuts.
  • The own brand, Thomas Scott, showed 77% year-on-year growth, indicating strong direct-to-consumer traction.
  • Licensed brands and contract manufacturing businesses continue steady growth.
  • Online-first digital model and selective offline expansion (e.g., six stores in Bangalore) support scaling efforts.
  • Overall, the company aims to sustain healthy growth momentum and improve margins as the business scales.

📈 Profitability & Margins

  • The company is focused on high double-digit revenue growth, targeting sustained growth for the coming financial year.
  • While specific EBITDA or profit guidance is not provided, the company aims to maintain double-digit EBITDA margins as it scales.
  • Efforts are ongoing to improve EBITDA margins through better price realization and operating leverage from the digital model.
  • Marketing spend is ROI-driven and performance-based, supporting revenue growth without compromising margins.
  • Employee costs are expected to grow at a slower rate than revenue, contributing to operating leverage.
  • The company plans to cautiously expand capacity via modest CAPEX to support growth without heavy capital expenditure.
  • Overall, growth targets prioritize revenue expansion while maintaining healthy profitability and margin improvement over time.

🏗️ Capital Expenditure Plans

  • The business is primarily OPEX driven with limited CAPEX requirements.
  • Continuous CAPEX is planned to increase capacities, specifically at the Solapur plant.
  • The capacity at Solapur plant is expected to grow about 20% over the next six months.
  • These capital expenditures are not very sizable.
  • No major new strategic capital investments were highlighted.
  • Focus remains on scalable growth supported by technology and operational efficiency rather than heavy capital spending.

💰 Fundraising & Capital Structure

The transcript does not explicitly mention any current or future fundraising plans through debt or equity. Key points related to funding or financial planning include: - Focus is on high double-digit growth while maintaining double-digit EBITDA margins. - No specific guidance provided on future EBITDA or revenue figures. - Discussion emphasizes operational efficiency, marketing ROI, and scaling up existing brands. - Capex or funding plans for FY26 were queried but not directly answered in the excerpts. - Insurance claims related to a fire incident are ongoing but unrelated to fundraising. Thus, there is no direct information on plans for raising new funds via debt or equity in the provided transcript.

📋 Order Book & Pipeline

The transcript does not specifically mention the current or expected order book or pending orders for Thomas Scott (India) Limited. However, some relevant points related to demand and inventory are: - Inventory levels have increased to accommodate greater sales expected in the second half (H2) of the financial year. - The company is building up inventory based on anticipated higher potential future demand. - Supply is currently catching up with demand, indicating a positive outlook on orders. - There was a temporary slowdown in customer uptake due to GST rate cut deferment, but demand recovered strongly by the end of the quarter. - The company aims for high double-digit growth and sustained Q-O-Q revenue growth, suggesting a healthy pipeline of orders. No explicit quantitative data on order book or pending orders is provided.

Key Metrics

Frequently Asked Questions

What were Thomas Scott India Ltd Q2 FY26 results?

The company is focused on high double-digit growth in sales and revenue while maintaining double-digit EBITDA margins. The company is focused on high double-digit revenue growth, targeting sustained growth for the coming financial year.

What is Thomas Scott India Ltd share price analysis?

Thomas Scott India Ltd currently shows a neutral. The stock trades at a P/E of 21.9 with a market cap of ₹444 Cr. Investors should review the full earnings analysis for detailed insights.

Is Thomas Scott India Ltd planning capital expenditure?

The business is primarily OPEX driven with limited CAPEX requirements.

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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.

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