Indian Terrain Fashions Limited · NSE:INDTERRAIN
Indian Terrain Fashions — Q4 FY2026 Earnings Presentation
33 slides from Indian Terrain Fashions's earnings presentation, May 16, 2026
Slide 1: Investor presentation cover letter to stock exchanges
ITFL/SEC/2026-27/MAY/03 16th May 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor, Plot No. C/1, Dalal Street, G Block, Bandra-Kurla Complex, Mumbai – 400 001 Bandra (East), Mumbai- 400 051 Scrip Code – 533329 NSE Symbol: INDTERRAIN Dear
Slide 2: Indian Terrain Fashions Ltd Q4 FY'26 Investor Update
Indian Terrain Fashions Ltd Q4 FY’26 Investor Update
Slide 3: Safe Harbor
Safe Harbor The information contained in this presentation is only current as of its date. Please note that the past performance of the company is not and should not be considered as, indicative of future results. This presentation may contain certain statements of future expectations and other forw
Slide 4: MD's Comments
INDIAN TERRAIN FASHIONS LIMITED MD’s Comments Commenting on the Q4 results, Mr. Charath Narsimhan, Managing Director & Chief Executive Officer, Indian Terrain, said, “FY’26 has been an important year of execution, stabilisation, and recovery for Indian Terrain. Over the last two years, we have consc
Slide 5: Agenda
AGENDA 01 02 Market Update & Industry Trends Q3 Business Update Current landscape and competitive positioning Key achievements and operational milestones 03 04 Financial Performance Overview Store Network & Expansion Revenue, margins, and profitability metrics Geographic footprint and growth strateg
Slide 6: Market Update
Market Update • Indian apparel retail industry continues to benefit from premiumisation trends, improving consumer sentiment, and increasing demand across organised retail and Tier II & III markets. • Industry players are increasingly focusing on omni-channel expansion, franchise-led growth, and ass
Slide 7: Business Highlights – Q4 FY'26
Business Highlights – Q4 FY’26 • Revenue Growth - Revenue from operations for Q4 grew by 19% driven by ₹ 106.53 Crs improved performance across key growth channels and better channel mix. Full year Fy’26 revenue increased to ₹377.7 Cr as against ₹340.6 Cr in FY’25, Revenue From Operations • Profitab
Slide 8: Revenue (Primary) – Q4 FY'26
Revenue (Primary) – Q4 FY’26 Net Sales (Rs. In Crs) • Overall Q4 Net Sales grew by ₹17 Cr (+19% YoY), driven primarily ₹ 60.00 by strong growth in Online (ONL) ₹ 50.00 ₹ 46.34 and Franchise-led channels (EBO, MBO). ₹ 40.00 ₹ 31.69 • Online sales surged (+₹4.26 Cr) ₹ 28.50 ₹ 28.72 due to improved dig
Slide 9: Revenue (Primary) – 12M FY'26
Revenue (Primary) – 12M FY’26 Net Sales (Rs. In Crs) • FY’26 Net Sales grew by ₹ 180.00 ₹37.07 Cr (+11% YoY), ₹ 160.00 ₹ 149.02 driven primarily by strong expansion in MBO (+₹52.04 ₹ 140.00 ₹ 129.82 Cr) and EFO (+₹6.05 Cr). ₹ 120.00 ₹ 112.38 • MBO delivered robust ₹ 100.00 growth, reflecting deeper
Slide 10: Still Iconic: 2016 or 2026
2016 or 2026 ? cy Still Iconic INDIAN TERRAIL j » ib A ° ? AFTER-HOURS. ALE ATTITUDE. INDIAN TERRAIN INDIAN TERRAIN
Slide 11: Financial Performance Overview Q4 & FY'26
Financial Performance Overview Q4 & FY’26
Slide 12: Key Metrics – Q4 FY'26
Key Metrics – Q4 FY’26 Rev from Operations – Q4 Gross Margin – Q4 ₹ 106.53 44.44% 43.29% ₹ 89.53 FY'26 FY'25 FY'26 FY'25 EBITDA – Q4 PBT – Q4 11.28% 3.32% 5.16% -4.28% FY'26 FY'25 FY'26 FY'25 • Q4 FY'26 delivered 19% revenue growth, a 115 bps gross margin expansion, and a near 3x improvement in EBIT
Slide 13: Key Metrics – FY'26
Key Metrics – FY’26 Rev from Operations – 12M Gross Margin – 12M ₹ 377.67 42.18% 37.76% ₹ 340.60 FY'26 FY'25 FY'26 FY'25 EBITDA – 12M PBT– 12M 9.65% 0.72% -0.62% -12.04% FY'26 FY'25 FY'26 FY'25 • FY'26 marked a decisive turnaround — 11% revenue growth, a 4 % point gross margin expansion, and a swing
Slide 14: Channel wise Revenue Split – Q4 vs Q4
Channel wise Revenue Split – Q4 vs Q4 Channel wise Revenue – Q4 FY’26 Channel wise Revenue – Q4 FY’25 3% 5% 3% -1% Retail 32% Retail 34% LFO LFO 43% 43% MBO MBO ONL ONL Others Others 16% 21% • MBO emerged as the key growth engine with scalable, asset-light expansion; Online strengthened its channel
Slide 15: Channel wise Revenue Split – FY'26 vs FY'25
Channel wise Revenue Split – FY’26 vs FY’25 Channel wise Revenue – 12M FY’26 Channel wise Revenue – 12M FY’25 4% 5% 9% 9% Retail Retail 44% LFO LFO 18% MBO MBO 52% 30% ONL ONL Others Others 16% 13% • Dependence on the EBO channel is being gradually reduced, supported by a meaningful expansion in the
Slide 16: Category wise Revenue Split – Q4 & FY'26
Category wise Revenue Split – Q4 & FY’26 Category wise Revenue – Q4 FY’26 Category wise Revenue – 12M FY’26 1% 2% 2% 2% 19% 19% Shirt Shirt Trouser Trouser 4% Denim 47% Denim 48% T-Shirt 6% T-Shirt Jacket Jacket Others Others 26% 24% • Shirts remain the dominant revenue category, contributing 48% in
Slide 17: Financial Results – Q4 & FY'26
Financial Results – Q4 & FY’26 Quarter Ended Year Ended Particulars (Rs. In Crs) Mar'26 Dec'25 Mar'25 Mar'26 Mar'25 Net Revenues 106.53 101.40 89.53 377.67 340.60 Product Cost 59.19 56.96 50.77 218.38 211.98 Gross Margin 47.34 44.44 38.76 159.29 128.62 GM (%) 44.44% 43.83% 43.29% 42.18% 37.76% Emplo
Slide 18: Financial Performance – Q4 vs Q4 & FY'26 vs FY'25
Financial Performance – Q4 vs Q4 & FY’26 vs FY’25 Particulars (Rs. In Crs) Q4 FY'26 Q4 FY'25 YoY Change 12M FY'26 12M FY'25 YoY Change Income from Operations 106.53 89.53 18.99% 377.67 340.60 10.88% Other Income 1.22 1.23 4.14 4.76 Total Income 107.75 90.76 381.81 345.36 Operating Expenses 95.73 86.
Slide 19: Balance Sheet
Balance Sheet Standalone Balance Sheet (INR Cr) Mar’26 Sep’25 Mar’25 Share Capital 10.13 10.13 9.14 Reserves And Surplus 173.79 172.41 173.68 Non-Current Liabilities 36.99 40.17 46.66 Current Liabilities 218.07 216.48 212.86 Total Equity & Liabilities 438.98 439.19 442.34 Non-Current Assets 52.80 67
Slide 20: Working Capital Trend
Working Capital Trend Rs. In Crs Mar'26 Dec'25 Sep'25 Jun'25 Mar'25 • The company has delivered a steady reduction in GWC days (329 → 311) and Receivables 248 232 241 230 237 NWC days (266 → 237), driven by Inventory 75 71 77 76 71 continuous monitoring, structured credit Gross Working Capital 322 3
Slide 21: Polo Elevation campaign
POLO ELEVATION et COLLEG Ti SHOP Now
Slide 22: About Indian Terrain & Stores
About Indian Terrain & Stores
Slide 23: Exclusive Stores – Q4 FY'26
Exclusive Stores – Q4 FY’26 Stores as on Stores as on Store Formats 31st Mar’26 31st Mar’25 Region Wise – Exclusive Stores COCO (Company Owned Company Operated) 14 13 12 COFO (Company Owned Franchisee Operated) 46 58 FOFO (Franchisee Owned Franchisee Operated) 96 115 24 EFO (Exclusive Factory Outlet
Slide 24: ITFL Presence
ITFL Prescence Region Wise - LFO 23 78 EAST 3 WEST 48 NORTH SOUTH 4 7 5 4 49 7 7 Region Wise - MBO 3 10 98 21 307 18 EAST 11 168 WEST NORTH SOUTH 70 10 Powered by Bing 168 © GeoNames, Microsoft, TomTom Exclusive Stores Presence
Slide 25: New Concept Stores
New Concept Stores Immersive Brand Storytelling Elevated Visual Merchandising Personal Styling & Fit Digital Touchpoints • Enhancing brand • “Find Your Terrain Fit” Interactive screens showing: • Mannequins styled as connection through stations (shirt fit guide, • How to style 1 shirt in 3 ways comp
Slide 26: Indian Terrain & its distribution network
Indian Terrain & it’s distribution network 6+ E Com Partners “ At Indian Terrain, we love spending every 730+ Doors under day in creating Multi Branded Outlets clothing of elegant style 185+ Counters under Large Format Outlets and remarkable comfort that Covering 250+ Cities across 194 Exclusive Doo
Slide 27: Our Journey
Our Journey • Did QIP for further growth. • Started unwinding departmental Indian Terrain demerged • Launched Boys segment and stores and targeting Tier 2,3, and Launched Indian Terrain with introduced the brand “Indian 4 cities through retail presence from Celebrity as a separate 1 flagship store i
Slide 28: Key Personnel
Key Personnel Charath Ram Narsimhan Venkatesh Rajagopal Managing Director & CEO Chairman & Executive Director Holds Bachelor Degree from IIT and PGDBM (Finance) from IIM-Lucknow. Founder with 25+ years of experience In the Apparel Industry Have over 2 decades of experience in garment industry.
Slide 29: Reinvented Brand Architecture
Reinvented Brand Architecture SMART C ASUAL TE RRAI N JEANS CONSTRUCTED TE RRATHLETE For everyday work and play Youth Casuals Premium Occasion Wear Inspired For Everyday Lifestyle INDIAN TERRAIN Our brand architecture has been refreshed to encompass four strong sub labels that have contemporary clot
Slide 30: Driving Growth with Purpose and Technology
Driving Growth with Purpose and Technology Purpose-Led Brand Values Technology-Driven Enablers • Crafted for the evolved Indian man — Tech-enabled inventory & centralized blending comfort, design, and individuality. warehouse in Chennai. • Analytics-led merchandise planning & • Homegrown roots with
Slide 31: Shareholding Pattern & Market Information
Shareholding Pattern & Market Information NSE Ticker: 46.25% 31.55 Face Value: Public Promoters INDTERRAIN 2 /- per Share BSE Ticker: Market Price: 533329 ₹ 27.96/- per Share Market Cap: ISIN Number: ₹ 141.67 Crore INE611L01021 17.13% 5.07% Shares Outstanding Institution & Indus: Apparels & FPI’s &
Slide 32: Outlook
Outlook • The Company remains focused on driving sustainable and profitable growth through disciplined execution, improved channel productivity, and sharper merchandise planning. • Continued focus on strengthening MBO, franchise-led, and omni- channel presence is expected to support scalable growth
Slide 33: Thank You
THANK YOU Communication Address: Indian Terrain Fashions Limited Survey No. 549/2 & 232, Plot No.4 Thirukkachiyur & Sengundram Industrial Area Singaperumal Kovil Post, Chengalpattu - 603204 Indian Terrain Fashions Limited Mr. Sheikh Sahenawaz/ Mr. Sainath S CFO/ Company Secretary & Compliance Office
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