Vedant Fashions Ltd.

NSE: MANYAVAR · Speciality Retail

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52W Range₹329 – ₹649

Snapshot

Unlock Vedant Fashions Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Vedant Fashions Limited is a prominent Indian retailer specialising in wedding and celebration wear across men's, women's, and kids' categories. The company operates a diverse brand portfolio including Manyavar, Twamev, Manthan, Mohey, and Mebaz.

Business Model

The company operates primarily through an asset-light model, utilising a vast network of franchise-owned exclusive brand outlets alongside multi-brand outlets and large format stores. It also leverages direct-to-consumer sales through its proprietary website and mobile application.

Growth Outlook

Growth is driven by the expansion of the franchise store network and the strengthening of its omnichannel presence. The company continues to focus on premiumisation and brand penetration within the Indian ethnic wear market.

Key Risks

  • Seasonality. The business is highly dependent on the Indian wedding season and festive periods, leading to significant revenue fluctuations throughout the year.
  • Consumer Discretionary Spending. As a retailer of premium celebration wear, the company is vulnerable to economic downturns that reduce consumer spending on non-essential luxury items.
  • Fashion Trends. The company faces the risk of failing to anticipate or adapt to rapidly changing consumer preferences and fashion trends in the ethnic wear segment.
  • Franchise Dependency. Reliance on a franchise-led retail model exposes the company to operational risks and potential inconsistencies in customer experience across different store locations.

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Key Metrics

REVENUE

₹1,456 Cr

TTM · standalone

+2.0%YoY

NET PROFIT

₹386 Cr

TTM · standalone

-2.5%YoY

EPS

₹15.89

TTM · standalone

-2.4%YoY

RETURN ON EQUITY

20.6%

TTM · standalone

-1.6 ppYoY

RETURN ON CAPITAL EMPLOYED

23.4%

TTM · standalone

-1.5 ppYoY

P/E

32.7×

Q1 FY27 · standalone

32.7 vs 31.7x5Y avg

EV/EBITDA

17.5x

Q1 FY27 · standalone

17.5 vs 18.3x5Y avg

EBITDA MARGIN

50.6%

TTM · standalone

-1.2 ppYoY

NET PROFIT MARGIN

26.7%

Q1 FY27 · standalone

+1.7 ppYoY

DEBT TO EQUITY

0.0x

Q1 FY27 · standalone

+0.00xYoY

Peers · Speciality Retail

CompanyMkt CapP/E (TTM)EV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Vedant Fashions Ltd.MANYAVAR
₹12,906 Cr32.7×17.522.0%50.6%20.6%23.4%-24.8%
Aditya Birla Lifestyle Brands Ltd.ABLBL
₹9,741 Cr51.3×7.13—17.1%12.5%13.4%-44.4%
Aditya Vision Ltd.AVL
₹8,063 Cr53.1×30.6426.5%9.3%21.9%27.3%+1.4%
V2 Retail LimitedV2RETAIL
₹7,863 Cr5.6×15.6563.3%15.1%28.6%25.7%-90.7%
Aditya Birla Fashion and Retail Ltd.ABFRL
₹5,991 Cr-6.9×7.79-27.2%11.7%-13.4%-3.4%-48.5%
Arvind Fashions LimitedARVINDFASN
₹5,685 Cr42.4×8.0713.9%14.1%19.6%22.2%-28.4%

As of Q1 FY27

Financials