Vedant Fashions Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹11,831 Cr
- P/E
- 30.66
- ROE
- 18.83%
- PEG
- -5.72
- Price to sales
- 8.13
- Debt to equity
- 0.23
- 52W high / low
- ₹686 / ₹337
- Sales growth (5Y)
- 21.49%
- EBITDA margin
- 43.88%
- Net profit margin
- 24.60%
- Promoter holding
- 74.94%
- Sales (last year)
- ₹1,456 Cr
Vedant Fashions Limited caters to the Indian celebration wear market with a diverse portfolio of brands. The company offers its customers a one-stop destination for every celebratory occasion and the largest men's Indian wedding and celebration wear by revenue.VFL commands a dominant position in conventionally unorganized market segment.[1]
Guidance scorecard · Q1 FY27 call
What Vedant Fashions Ltd's management guided
and where it ranks in Retailing
Retailing
RevenueQ1 FY27 call
10–20%- Growth in MBO, SIS, and e-commerce channels combined currently contribute ~5% of overall revenues, with aggressive growth targets set for these segments.
- Confident about a strong product lineup and increased marketing investment, especially in Q3, expected to drive growth.
- Wedding calendar outlook is positive, with November to March expected to be a strong season; overall Y-o-Y growth is broadly in line or slightly stronger compared to last year.
- Expectation of high single-digit same-store sales growth (SSG) for the remaining nine months of FY27.
- Targeting low to mid-teens percentage revenue growth driven mainly by SSG and supported by net store additions (~3-4%).
- Strategic focus on store rationalization alongside aggressive gross openings in second half as rental pressures ease.
2 more points from Vedant Fashions Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what Vedant Fashions Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- The company plans a typical store gross opening rate of 3%-4% per financial year.
- Rental pressure is expected to ease, enabling more aggressive store openings.
- Investments include expansion in MBO (Multi-Brand Outlet), SIS (Shop-in-Shop), and e-commerce channels, with aggressive growth targets.
- There is a focused task force to drive repeat business, enhancing existing customer retention.
- Large marketing investments planned for Q3, including more conversion-focused social media campaigns.
- Pre-planning of supply chain inventory for new brands like Diwas is underway to support growth.
2 more points from Vedant Fashions Ltd's call on capex
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FundraisingQ1 FY27 call
See what Vedant Fashions Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
- MBO (Multi-Brand Outlets), SIS (Shop-In-Shop), and e-commerce combined currently contribute about 5% to overall revenues with aggressive growth targets.
- Strong preparedness for Q3 in terms of product lineup, marketing investments, and supply chain enhancements to capture growth.
- Positive expectation for Q2 from the Diwas brand with bookings already largely completed.
2 more points from Vedant Fashions Ltd's call on the order book
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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 growth2
- Strong growth1
- Entero Healthcare Solutions LtdGood growth3
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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 | ₹6,264 Cr | 38.2 | |
| 2 | 40%+ | Flat | ₹6,053 Cr | 53.9 | |
| 3 | Entero Healthcare Solutions Ltd | 20–40% | Up 0–2% | ₹6,899 Cr | 53.5 |
| 4 | 20–40% | Up 0–2% | ₹790 Cr | 19.0 | |
| 5 | 20–40% | Flat | ₹3.14L Cr | 725.0 | |
| 6 | 20–40% | Flat | ₹1.12L Cr | 170.8 |
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Pro shows every company guiding 40%+ revenue growth →Full Retailing rankingFinancials of Vedant Fashions Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Vedant Fashions Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 336 | 311 | 218 | 474 | 363 | 240 | 268 | 511 | 367 | 281 | 263 | 492 | 399 |
| Expenses + | 170 | 163 | 125 | 232 | 188 | 127 | 146 | 269 | 202 | 161 | 152 | 274 | 221 |
| Operating Profit | 166 | 148 | 93 | 242 | 175 | 113 | 122 | 242 | 166 | 121 | 111 | 218 | 179 |
| OPM % | 49% | 48% | 43% | 51% | 48% | 47% | 46% | 47% | 45% | 43% | 42% | 44% | 45% |
| Other Income + | 12 | 15 | 15 | 15 | 24 | 21 | 19 | 22 | 22 | 26 | 20 | 21 | 26 |
| Interest | 8 | 9 | 11 | 11 | 13 | 14 | 14 | 14 | 14 | 14 | 15 | 14 | 13 |
| Depreciation | 26 | 29 | 32 | 34 | 38 | 37 | 37 | 39 | 39 | 40 | 42 | 44 | 44 |
| Profit before tax | 143 | 124 | 65 | 212 | 148 | 83 | 90 | 212 | 135 | 93 | 74 | 181 | 148 |
| Tax % | 25% | 26% | 25% | 26% | 22% | 25% | 26% | 25% | 25% | 24% | 24% | 26% | 23% |
| Net Profit + | 107 | 92 | 49 | 158 | 116 | 62 | 67 | 158 | 101 | 70 | 56 | 135 | 114 |
| EPS in Rs | 4.41 | 3.80 | 2.02 | 6.49 | 4.77 | 2.57 | 2.75 | 6.50 | 4.16 | 2.89 | 2.31 | 5.55 | 4.70 |
Financials of Vedant Fashions Ltd
Profit & Loss
Annual income statement trend
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 504 | 596 | 760 | 794 | 915 | 542 | 1,009 | 1,326 | 1,368 | 1,386 | 1,435 |
| Expenses + | 354 | 423 | 526 | 521 | 517 | 307 | 528 | 668 | 709 | 744 | 807 |
| Operating Profit | 150 | 173 | 234 | 274 | 398 | 235 | 480 | 658 | 658 | 643 | 628 |
| OPM % | 30% | 29% | 31% | 34% | 44% | 43% | 48% | 50% | 48% | 46% | 44% |
| Other Income + | 2 | 3 | 10 | 19 | 32 | 58 | 49 | 37 | 70 | 85 | 94 |
| Interest | 6 | 5 | 6 | 4 | 25 | 25 | 27 | 30 | 44 | 55 | 56 |
| Depreciation | 7 | 8 | 10 | 8 | 82 | 89 | 88 | 97 | 135 | 153 | 170 |
| Profit before tax | 139 | 164 | 229 | 280 | 323 | 178 | 414 | 567 | 548 | 520 | 496 |
| Tax % | 35% | 35% | 35% | 35% | 24% | 27% | 25% | 25% | 24% | 25% | 24% |
| Net Profit + | 90 | 106 | 149 | 182 | 245 | 131 | 308 | 423 | 414 | 388 | 376 |
| EPS in Rs | 76.04 | 89.43 | 11.94 | 14.56 | 19.57 | 10.55 | 12.70 | 17.42 | 17.05 | 15.99 | 15.46 |
| Dividend Payout % | 13% | 0% | 0% | 0% | 20% | 0% | 39% | 52% | 50% | 50% | 0% |
Financials of Vedant Fashions Ltd
Balance Sheet
Capital structure and asset base
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 12 | 12 | 23 | 25 | 25 | 25 | 24 | 24 | 24 | 24 | 24 |
| Reserves | 221 | 317 | 683 | 865 | 1,051 | 1,075 | 1,060 | 1,371 | 1,578 | 1,762 | 1,940 |
| Borrowings + | 22 | 9 | 13 | 0 | 234 | 204 | 263 | 293 | 444 | 483 | 458 |
| Other Liabilities + | 109 | 154 | 221 | 257 | 281 | 320 | 402 | 473 | 462 | 477 | 431 |
| Total Liabilities | 364 | 492 | 940 | 1,147 | 1,591 | 1,623 | 1,749 | 2,161 | 2,508 | 2,747 | 2,853 |
| Fixed Assets + | 104 | 141 | 316 | 252 | 482 | 446 | 495 | 518 | 663 | 688 | 660 |
| CWIP | 3 | 5 | 1 | 2 | 0 | 0 | 0 | 2 | 0 | 0 | 0 |
| Investments | 0 | 0 | 138 | 195 | 371 | 553 | 524 | 793 | 959 | 1,051 | 1,214 |
| Other Assets + | 257 | 345 | 485 | 698 | 737 | 624 | 730 | 848 | 886 | 1,008 | 979 |
| Total Assets | 364 | 492 | 940 | 1,147 | 1,591 | 1,623 | 1,749 | 2,161 | 2,508 | 2,747 | 2,853 |
Financials of Vedant Fashions Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 37 | 52 | 179 | 251 | 253 | 341 | 459 | 483 | 389 | 481 | |
| Cash from Investing Activity + | -22 | -279 | -165 | -106 | -90 | 62 | -228 | -110 | -16 | -102 | |
| Cash from Financing Activity + | -16 | 224 | -13 | -138 | -165 | -406 | -226 | -362 | -377 | -386 | |
| Net Cash Flow | -0 | -4 | 1 | 7 | -2 | -3 | 5 | 12 | -4 | -6 | |
| Free Cash Flow | 15 | -94 | 173 | 238 | 263 | 352 | 464 | 484 | 388 | 470 | |
| CFO/OP | 58% | 53% | 100% | 82% | 122% | 93% | 92% | 93% | 80% | 96% |
Financials of Vedant Fashions Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 78 | 115 | 155 | 155 | 156 | 247 | 143 | 130 | 151 | 163 | 166 |
| Inventory Days | 291 | 266 | 131 | 147 | 173 | 275 | 207 | 191 | 139 | 210 | 125 |
| Days Payable | 108 | 93 | 64 | 98 | 73 | 133 | 100 | 93 | 89 | 106 | 54 |
| Cash Conversion Cycle | 261 | 289 | 221 | 204 | 256 | 389 | 250 | 228 | 200 | 266 | 237 |
| Working Capital Days | 93 | 149 | 149 | 148 | 135 | 172 | 101 | 85 | 105 | 126 | 254 |
| ROCE % | 57% | 44% | 35% | 31% | 15% | 33% | 39% | 31% | 26% | 24% |
Guidance history
How Vedant Fashions Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Flat | Planned | — | — |
| Q4 FY26 call → | 0–10% | Flat | Planned | — | — |
| Q3 FY26 call → | 0–10% | Flat | Planned | — | — |
| Q2 FY26 call → | 0–10% | Flat | Planned | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
27 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −29.0% | 24% |
| Last 6 months | +14.1% | 70% |
| Last 3 months | +16.6% | 84% |
The price is 66.8% below its all-time high of ₹1,469.1 (7 Oct 2022). Stocks more than 20% below their peak have their score halved, so 55 became 27.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Vedant Fashions Ltd: 0.4 × 24 + 0.4 × 70 + 0.2 × 84 = 55, halved to 27 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
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What Vedant Fashions Ltd's management said in earlier quarters
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