Vedant Fashions Ltd
MANYAVAR NSE
Vedant Fashions Ltd
RetailNSE: MANYAVAR BSE: 543463 Speciality Retail
Key Fundamentals
MicrocapSpeciality RetailRetailMarket Cap
₹12,982 Cr
Volatility
High Risk
P/E Ratio
33.77
EBITDA
₹728 Cr
Return on Equity
25.86%
Debt to Equity
0.23
Book Value
₹80.84
EPS
₹15.84
52W High
₹796.55
52W Low
₹329.2
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Vedant Fashions Ltd insights
45 extracted metrics + investor summaries across FY16–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
2- Company has a good return on equity (ROE) track record: 3 Years ROE 22.8%
- Company has been maintaining a healthy dividend payout of 50.0%
Weaknesses
2- Company has high debtors of 166 days.
- Working capital days have increased from 162 days to 254 days
Growth Rate
Revenue Growth
3.01% ↘
Net Income Growth
-3.47% ↘
Cash Flow Change
2.82% ↗
ROE
-15.63% ↘
ROCE
-19.11% ↘
EBITDA Margin (Avg.)
-0.65% ↘
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 7d agoAI opinion · based on fundamentals
Risk high
Vedant Fashions (Manyavar) trades at a market cap of ₹12,677 Cr with a PE of 33.1x, reflecting premium valuation for a company whose TTM sales growth has decelerated to 2% and profits have declined 3%. The company maintains a strong ROE track record of 23% over 3 years but faces deteriorating working capital efficiency with debtor days at 166 and working capital days expanding to 254.
Bull Case 7
- Consistent return on equity with 3-year ROE of 23%, 5-year ROE of 25%, and 10-year ROE of 24%, indicating durable capital efficiency
- Healthy dividend payout ratio of 50% with current dividend yield of 1.52%, demonstrating shareholder-friendly capital allocation
- Strong long-term compounded sales growth of 21% over 5 years and 11% over 10 years, reflecting proven scalability of the celebration-wear model
- Long-term compounded profit growth of 24% over 5 years and 15% over 10 years, showing historical ability to grow earnings
- Dominant market position in the organized Indian celebration-wear segment with a price-to-book ratio of 6.5x reflecting brand intangible value
- Asset-light franchise-heavy model historically supported ROE of 20% even in the most recent year despite growth slowdown
- Stock has corrected 30% over 1 year from highs, which compresses the valuation from previously elevated levels above 50x PE to current 33.1x
Bear Case 8
- TTM sales growth has sharply decelerated to just 2%, down from 21% CAGR over 5 years, signaling potential demand saturation or execution challenges
- Compounded profit growth has turned negative at -3% on a TTM and 3-year basis, indicating margin pressure or operating deleverage
- Working capital days have ballooned from 162 days to 254 days, a 57% deterioration that ties up significant cash in operations
- High debtor days of 166 suggest channel stuffing risk or weakening bargaining power with franchise partners
- Stock has declined 30% over 1 year and 25% CAGR over 3 years, reflecting sustained loss of market confidence
- PE of 33.1x remains elevated relative to the near-zero earnings growth, implying the stock prices in recovery that has not yet materialized
- 3-year compounded sales CAGR of only 3% suggests the post-COVID recovery has fully normalized and organic growth has stalled
- ROE has declined from the 5-year average of 25% to 20% in the last year, a 500 basis point compression indicating reducing profitability
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 2d ago Headwinds 1
- Sep-Oct seasonal weakness expected Jul 28
Company anticipates challenges in September and October due to a delayed Navratri, which could pressure near-term revenue.
Positives 4
- Q1FY27 profit jumps 14.7% YoY Jul 26
Net profit rose 14.7% YoY to ₹806.11 crore with revenue up 7.2% to ₹3,013.65 crore. EPS stood at ₹3.32.
- Strong wedding season Nov-Mar ahead Jul 28
Management expects the November to March wedding season to be strong, which is the company's peak demand period.
- AI-powered VFL Brahma system launched Jul 28
Vedant Fashions launched VFL Brahma, an AI system aimed at enhancing data connectivity and improving operational efficiency.
- Board continuity with reappointments Jul 25
Board reappointed Ravi Modi, Shilpi Modi, and Manish Mahendra Choksi for five-year terms, ensuring leadership stability.
Neutral 3
- Multiple analyst/investor meets scheduled Aug 5
Company scheduled virtual and physical one-to-one analyst and investor meetings on Jul 31, Aug 7, Aug 10, and Aug 13 in Kolkata. No unpublished price-sensitive information to be discussed.
- Q1FY27 earnings call audio released Jul 27
Audio recording of the Q1FY27 earnings conference call held on July 27, 2026 uploaded to company website for investor access.
- Q1FY27 earnings call hosted Jul 27 Jul 22
Earnings call held at 3:30 PM IST on July 27 with Vedant Modi and Rahul Murarka representing management.
TL;DR: Vedant Fashions delivered solid Q1FY27 results with 14.7% profit growth and 7.2% revenue growth, signaling healthy demand in the celebration wear segment. The company is investing in AI-driven operational tools and expects a strong Nov-Mar wedding season. Near-term risk is limited to a seasonal soft patch in Sep-Oct due to delayed Navratri. The trend is positive with earnings momentum intact and management focused on both technology upgrades and peak season preparation.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 311 | 218 | 474 | 363 | 240 | 268 | 511 | 367 | 281 | 263 | 492 | 399 | 301 |
| Expenses | 163 | 125 | 232 | 188 | 127 | 146 | 269 | 202 | 161 | 152 | 274 | 221 | 170 |
| Operating Profit | 148 | 93 | 242 | 175 | 113 | 122 | 242 | 166 | 121 | 111 | 218 | 179 | 131 |
| OPM % | 48% | 43% | 51% | 48% | 47% | 46% | 47% | 45% | 43% | 42% | 44% | 45% | 43% |
| Other Income | 15 | 15 | 15 | 24 | 21 | 19 | 22 | 22 | 26 | 20 | 21 | 26 | 30 |
| Interest | 9 | 11 | 11 | 13 | 14 | 14 | 14 | 14 | 14 | 15 | 14 | 13 | 13 |
| Depreciation | 29 | 32 | 34 | 38 | 37 | 37 | 39 | 39 | 40 | 42 | 44 | 44 | 42 |
| PBT | 124 | 65 | 212 | 148 | 83 | 90 | 212 | 135 | 93 | 74 | 181 | 148 | 106 |
| Tax % | 26% | 25% | 26% | 22% | 25% | 26% | 25% | 25% | 24% | 24% | 26% | 23% | 24% |
| Net Profit | 92 | 49 | 158 | 116 | 62 | 67 | 158 | 101 | 70 | 56 | 135 | 114 | 81 |
| EPS in Rs | 3.8 | 2.02 | 6.49 | 4.77 | 2.57 | 2.75 | 6.5 | 4.16 | 2.89 | 2.31 | 5.55 | 4.7 | 3.32 |
Profit & Loss
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 504 | 596 | 760 | 794 | 915 | 542 | 1,009 | 1,326 | 1,368 | 1,386 | 1,435 | 1,456 |
| Expenses | 354 | 423 | 526 | 521 | 517 | 307 | 528 | 668 | 709 | 744 | 807 | 817 |
| Operating Profit | 150 | 173 | 234 | 274 | 398 | 235 | 480 | 658 | 658 | 643 | 628 | 639 |
| OPM % | 30% | 29% | 31% | 34% | 44% | 43% | 48% | 50% | 48% | 46% | 44% | 44% |
| Other Income | 2 | 3 | 10 | 19 | 32 | 58 | 49 | 37 | 70 | 85 | 94 | 97 |
| Interest | 6 | 5 | 6 | 4 | 25 | 25 | 27 | 30 | 44 | 55 | 56 | 55 |
| Depreciation | 7 | 8 | 10 | 8 | 82 | 89 | 88 | 97 | 135 | 153 | 170 | 172 |
| PBT | 139 | 164 | 229 | 280 | 323 | 178 | 414 | 567 | 548 | 520 | 496 | 509 |
| 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 | 386 |
| EPS in Rs | 76.04 | 89.43 | 11.94 | 14.56 | 19.57 | 10.55 | 12.7 | 17.42 | 17.05 | 15.99 | 15.46 | 15.88 |
| Div. Payout % | 13% | 0% | 0% | 0% | 20% | 0% | 39% | 52% | 50% | 50% | 50% | — |
Balance Sheet
| 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 |
Cash Flow
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | — | 37 | 52 | 179 | 251 | 253 | 341 | 459 | 483 | 389 | 481 |
| Investing | — | -22 | -279 | -165 | -106 | -90 | 62 | -228 | -110 | -16 | -102 |
| Financing | — | -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 |
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% |
Documents
1
Clarification sought from Vedant Fashions Ltd
11 Aug - Exchange has sought clarification from Vedant Fashions Ltd on August 11, 2026 with reference to significant movement in price, in order to ensure that investors … 11 Aug - Exchange has sought clarification from Vedant Fashions Ltd on August 11, 2026 with reference to significant movement in price, in order to ensure that investors …
2
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
9h - Audio recording of May 11, 2026 conference call for Q4 and FY2026 results made available online. 9h - Audio recording of May 11, 2026 conference call for Q4 and FY2026 results made available online.
3
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
7h - Fashions Limited has informed about a schedule of meeting with the Institutional Investor(s)/Analyst(s) vide the enclosed Letter. 7h - Fashions Limited has informed about a schedule of meeting with the Institutional Investor(s)/Analyst(s) vide the enclosed Letter.
4
Announcement under Regulation 30 (LODR)-Newspaper Publication
2d - Fashions Limited has informed about the copies of the newspaper publications in connection with the Audited Financial Results of the Company for the quarter and … 2d - Fashions Limited has informed about the copies of the newspaper publications in connection with the Audited Financial Results of the Company for the quarter and …
5
Board Meeting Outcome for Outcome Of Board Meeting Held On 8Th May, 2026
2d - Q4 and FY26 audited results approved; final dividend ₹7.75/share recommended on May 8, 2026. 2d - Q4 and FY26 audited results approved; final dividend ₹7.75/share recommended on May 8, 2026.
3
Announcement Under Regulation 30 (LODR) - Intimation Of Rescheduling Of Analyst(S) / Investor(S) Meeting 10 Aug 2026
General_Announcements
Frequently Asked Questions about Vedant Fashions Ltd
What does Vedant Fashions Ltd do?
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 ...
Where is Vedant Fashions Ltd (MANYAVAR) listed?
Vedant Fashions Ltd is listed on the Indian stock exchanges. It is listed on NSE: MANYAVAR and BSE: 543463. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Vedant Fashions Ltd belong to?
Vedant Fashions Ltd operates in the Retail sector within the Speciality Retail industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Vedant Fashions Ltd?
Vedant Fashions Ltd has a market capitalisation of approximately ₹12982.27 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Vedant Fashions Ltd?
The Price-to-Earnings (PE) ratio of Vedant Fashions Ltd is 33.77. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Vedant Fashions Ltd?
Over the past 52 weeks, Vedant Fashions Ltd has traded between a low of ₹329.2 and a high of ₹796.55. This range helps investors understand the stock's price volatility and recent trading levels.
Does Vedant Fashions Ltd pay dividends?
Yes, Vedant Fashions Ltd has a dividend yield of 1.48%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Vedant Fashions Ltd?
Vedant Fashions Ltd has a Return on Equity (ROE) of 25.86%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Vedant Fashions Ltd on Tapetide?
On Tapetide, you can view Vedant Fashions Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
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]