Purple Style Labs Q2 FY27 Share Price & Earnings Call Analysis

₹498.75+0.43% today

Market cap: ₹3,993 Cr
ROE: -513.38%
Price to sales: 7.16
Debt to equity: 2.44
52W high / low: ₹589 / ₹500
EBITDA margin: 3.79%
Net profit margin: -30.02%
Promoter holding: 24.08%
Sales (last year): ₹558 Cr

All 9 ratios ↓

Incorporated in August 2015, Purple Style Labs Limited currently owns and operates a multi-brand luxury omni-channel fashion platform, Pernia’s Pop-Up Shop (PPUS).[1]

Guidance scorecard · Q2 FY27 call

What Purple Style's management guided
and where it ranks in Retailing

Revenue10–20%MarginsFlat CapexWhat management said FundraisingWhat management said Order bookWhat management said

RevenueQ2 FY27 call

10–20%

FY27 is considered a pivotal year as investments made in FY26 enter their first full year of operations with four large-format experience centers opened.
GMV increased from INR133 crores in Q1 FY26 to INR193 crores in Q1 FY27, indicating strong growth momentum.
Sales contributions increased across key markets: Mumbai (INR28 crores to INR50 crores), Delhi (INR29 crores to INR39 crores), Hyderabad (INR10 crores to INR16 crores), and USA (INR20 crores to INR29 crores).
Focus will be on deepening presence in key markets through large-format experience centers rather than just increasing store count.
AOV increased to INR86,000 in Q1 FY27, reflecting a shift toward higher-value luxury products.
Cautious approach on further expansions; no immediate plans for new stores but open to adjustments based on market dynamics.

2 more points from Purple Style's call on revenue

Create a free account to keep reading this call

Full Q2 FY27 analysis

MarginsQ2 FY27 call

Flat

FY27 is a key year as investments made in FY26 enter their first full operational year, expected to deliver clearer growth trajectory.
Four large-format stores opened in FY26, providing a base for operational leverage and growth in FY27.
Q1 FY27 cost structure sets a baseline; with limited immediate expansion planned, future quarters expected to leverage fixed costs for improved profitability.
Gross profit target to reach INR 55 crores to achieve operational EBITDA positivity, with potential adjustments after observing New York store performance.
Marketing and logistics costs expected to be stable or reduce, enhancing operating leverage.
Management refrains from giving precise margin guidance but emphasizes observing subsequent quarters for clarity.
Working capital efficiency and inventory management improvements aid in sustaining growth without disproportionate capital needs.

2 more points from Purple Style's call on margins

Create a free account to keep reading this call

See what Purple Style said on margins — free account, 30 seconds.

Full Q2 FY27 analysis

CapexQ2 FY27 call

No significant capex or expansion is currently planned since four large-format experience centers were opened in the last financial year (FY26).
Management plans to observe the performance of these stores, especially the New York center, through FY27 before deciding on further expansion.
Lease terms for new stores are kept short to maintain flexibility and allow tuning of rent based on store performance.
Future expansion, if any, will be communicated in subsequent quarterly calls.

2 more points from Purple Style's call on capex

Create a free account to keep reading this call

Full Q2 FY27 analysis

FundraisingQ2 FY27 call

The company currently has borrowings, with debt increasing from INR371 crores at FY26-end to INR436 crores as of June 2026.
Management indicated that as operational profits grow, they aim to reduce debt, which would decrease finance costs over time.
No significant expansion plans are underway immediately, and if any change happens (including financial actions), they will communicate it publicly in future calls.

2 more points from Purple Style's call on fundraising

Create a free account to keep reading this call

See what Purple Style said on fundraising — free account, 30 seconds.

Full Q2 FY27 analysis

Order bookQ2 FY27 call

Purple Style Labs operates a backorder model wherein customers place orders with upfront payment, and the company procures products from designers with delivery windows ranging from 7 to 90 days.
The average delivery timeline is approximately 45 to 60 days, and the advance from customers typically equals about one month of revenue.
As of Q1 FY27, the advance from customers was around INR 49 crores, indicating a significant backlog of orders yet to be fulfilled.
The backorder portion contributes close to 40-50% of sales at any point in time.

2 more points from Purple Style's call on the order book

Create a free account to keep reading this call

Full Q2 FY27 analysis

Full Retailing ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Retailing
on management's own guidance

Strong growth
2
Strong growth
1
Urban CompanyGood growth
3

See all potential multibaggers Where does Purple Style rank?

Portfolio builder

Build your portfolio
from the top-ranked stocks

1. Pick 3–15 stocks
2. Choose large, mid or small cap and your sectors
3. Get a portfolio built from the rankings

Build my portfolio

Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Retailing companies ranked on guidance

#	Company	Revenue guided	Margin guided	Market cap	P/E
1		40%+	Flat	₹5,646 Cr	50.3
2		40%+	Flat	₹5,378 Cr	32.8
3	Urban Company	20–40%	Up 0–2%	₹23,567 Cr	—
4		20–40%	Up 0–2%	₹6,863 Cr	53.2
5		20–40%	Up 0–2%	₹799 Cr	19.2
6		20–40%	Flat	₹3.32L Cr	672.7

Sign up free to see every company in the sector ranking and track Purple Style.

Pro shows every company guiding 40%+ revenue growth →Full Retailing ranking

Purple Style announcements

All announcements →

Financial resultsMajor development2 Nov 2026
Purple Style Labs Limited approves Q2 & H1 FY2026-27 unaudited financial results

Financials of Purple Style

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Purple Style

Shareholding breakup across reporting periods.

	Sep 2026
Promoters +	24.08%
FIIs +	4.52%
DIIs +	13.43%
Public +	57.98%
No. of Shareholders	25,359

Pros & Cons

Purple Style

Key positives and risks surfaced from the company insights section.

Pros

Stock is trading at 9.46 times its book value
Company has low interest coverage ratio.
Promoter holding is low: 24.1%
Company has a low return on equity of -176% over last 3 years.

Raw Insights

Stock is trading at 9.46 times its book value
Company has low interest coverage ratio.
Promoter holding is low: 24.1%
Company has a low return on equity of -176% over last 3 years.

Financials of Purple Style

Quarterly Results

Quarter-by-quarter operating performance

	Jun 2025	Mar 2026	Jun 2026	Sep 2026
Sales +	106	154	119	142
YoY Sales growth			+13%
Expenses +	111	150	133	142
Operating Profit	-6	4	-14	0
OPM %	-5%	2.6%	-12%	0.1%
Other Income +	-53	-5	-6	1
Interest	21	30	34	34
Depreciation	21	32	35	35
Profit before tax	-100	-63	-88	-68
Tax %	0%	0%	0%	0%
Net Profit +	-100	-63	-88	-68
EPS in Rs	-15.60	-9.22	-12.92	-8.53

Financials of Purple Style

Profit & Loss

Annual income statement trend

	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Sales +	369	504	490	558
Sales growth		+37%	-3%	+14%
Expenses +	369	478	452	537
Operating Profit	0	26	38	21
OPM %	0.0%	5%	8%	3.8%
Other Income +	13	6	-119	-109
Interest	25	41	53	97
Depreciation	29	39	55	101
Profit before tax	-41	-48	-188	-285
Tax %	0%	0%	0%	0%
Net Profit +	-41	-48	-188	-285
EPS in Rs	-13.75	-15.85	-44.96	-41.83
Dividend Payout %	0%	0%	0%	0%

Financials of Purple Style

Balance Sheet

Capital structure and asset base

	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
Equity Capital	0.03	0.03	0.04	68	80
Reserves	58	39	117	-121	342
Borrowings +	169	312	287	784	774
Other Liabilities +	102	109	92	98	160
Total Liabilities	330	460	497	830	1,356
Fixed Assets +	152	230	193	501	433
CWIP	0	1	3	0	0
Investments	0	3	0	0	0
Other Assets +	178	226	301	329	923
Total Assets	330	460	497	830	1,356

Financials of Purple Style

Cash Flows

Operating, investing and financing cash movement

	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity +	-44	-31	-45	-35
Cash from Investing Activity +	-13	-17	-12	-52
Cash from Financing Activity +	47	44	64	93
Net Cash Flow	-10	-4	7	5
Free Cash Flow	-58	-47	-60	-84
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	-73,417%	-119%	-119%	-164%

Financials of Purple Style

Ratios

Working capital efficiency and return ratios

	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	2	1	1	2
Inventory Days	148	172	206	171
Days Payable	72	80	54	42
Cash Conversion Cycle	79	93	153	131
Working Capital Days	-23	-34	11	-177
ROCE %		-2%	-3%	-12%

Guidance history

How Purple Style's guidance has moved, call by call

Call	Revenue	Margins	Capex	Fundraising	Order book
Q2 FY27 call →	10–20%	Flat	—	—	—
Q1 FY27 call →	20–40%	Flat	None planned	—	Rising

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

What Purple Style's management said in earlier quarters

Others in Retailing this season

V-Mart Retail (Q2 FY27)
Q2 FY'27 Revenue from Operations:** ₹9,530 Mn, up 18% YoY (Page 6, 5) . Key investor presentation takeaways from V-Mart Retail Ltd's Q2 FY27 investor presentati
V2 Retail (Q2 FY27)
Q2 FY27 Revenue from Operations: ₹905.6 Cr, up 28% YoY from ₹708.6 Cr in Q2 FY26 (Pages 9, 10) . Key investor presentation takeaways from V2 Retail Ltd's Q2 FY2
RattanIndia Ent (Q2 FY27)
Q2 FY27 revenue: ₹1,974 crore, up from ₹1,806 crore in Q1 FY27 (sequential growth). Key investor presentation takeaways from RattanIndia Enterprises Ltd's Q2 FY
Arvind Fashions (Q2 FY27)
Q2 FY27 Revenue from Operations: ₹1,559 crores, up 10.0% YoY from ₹1,418 crores in Q2 FY26 (Pages 24, 27, 8). Key investor presentation takeaways from Arvind Fa

Compare:vs Eternal vs Avenue Supermarts vs Trent