Vedant Fashions Limited · NSE:MANYAVAR
Vedant Fashions — H1 FY26 Earnings Presentation
30 slides from Vedant Fashions's earnings presentation, Oct 31, 2025
Slide 1: Vedant Fashions Limited Investor Presentation - Oct 2025
Vedant Fashions Limited Investor Presentation - Oct 2025
Slide 2: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), which have been prepared by Vedant Fashions Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securi
Slide 3: About Vedant Fashions
About Vedant Fashions >:
Slide 4: Introduction to Vedant Fashions
Introduction to Vedant Fashions Indian Wedding and Celebration Wear Brands 01 02 03 04 Headquartered in Kolkata, incorporated in One-stop destination with wide product Largest company in India in men’s Indian Omni-channel network of EBOs, MBOs, LFS 2002 by Mr. Ravi Modi, Vedant Fashions portfolio fo
Slide 5: What makes VFL Special
What makes VFL Special Aspirational Yet Value for Money Curated Marketing Strategy with Multi Channel Presence o Aspirational Brand with Aristocratic & seamless customer experience o Emotional connect with theme-based campaigns o Uniform pricing across online & offline channels in India o Celebrity
Slide 6: Evolution Over the Years
Evolution Over the Years Launch of Brand Manyavar 1st EBO in Surpassed >INR Launched Mohey Strategic Acquisition Launched Twamev (Men’s Listing on Stock Exclusive Mohey started operations Bhubaneshwar 1,000 mn EBO (Women’s of Mebaz premium wear brand) Exchanges Flagship EBO; via predecessor revenue
Slide 7: Key Investment Highlights/ Our Strengths
Key Investment Highlights/ Our Strengths
Slide 8: Key Investment Highlights/ Our Strengths
Key Investment Highlights/ Our Strengths 01 02 Market leader in Indian celebration 03 Unique business model combining Large & growing Indian wedding & asset-light brand play along with wear market with diversified brand celebration wear market driven by an seamless purchase experience; no portfolio
Slide 9: Diversified Brand Portfolio Catering to Aspirations of Entire Family
Diversified Brand Portfolio Catering to Aspirations of Entire Family Brands Year Target Group Price Spectrum Distribution Product Portfolio Key Attributes Men: Kurta, Indo-western, Sherwani, o Category leader in branded Indian wedding & celebration EBOs, MBOs, LFS, jacket, accessories, Jodhpuri wear
Slide 10: Our Growth Strategy
Our Growth Strategy >:
Slide 11: Our Growth Strategy
Our Growth Strategy Retail Expansion within Up-selling and cross- Enhancement of brand Significant potential and Disciplined approach and outside India selling initiatives appeal through targeted space for growth of our towards acquisitions marketing initiatives emerging brands Vedant Fashions Limit
Slide 12: Q2 and H1 FY26 Key Highlights, Update and Financial Performance
Q2 and H1 FY26 Key Highlights, Update and Financial Performance
Slide 13: Company Key Performance Highlights
Company Key Performance Highlights • During Q2 FY26, Retail Sales (i.e, Sale of our Customers) grew by +4.6% as compared to Q2 FY25, whereas in H1 FY26 retail sales grew by +13.8% compared to H1 FY25; • During H1 FY26, Company’s SSSG grew by +8.2% as compared to H1 FY25; • During H1 FY26, Company re
Slide 14: Wide Pan-India Reach and Presence including International Markets
Wide Pan-India Reach and Presence including International Markets Presence (As of H1 FY26) 1.79 mn Sq. ft. 671 EBO’s Area* EBO’s* (Including 16 International (Including 38K area of Intl. EBO’s) Stores in 5 Countries) 257 Cities and towns globally (Including 12 International cities) Net Rollout (Q2 F
Slide 15: Vedant Fashions Limited
Vedant Fashions Limited •
Slide 16: Key Financial Highlights
Key Financial Highlights INR in mn Q2 FY26 YoY Analysis Revenue from Operations Gross Profit1 & Gross Margin EBITDA2 & EBITDA Margin PAT & PAT Margin Margins → 67.9% 65.2% Margins → 45.4% 42.9% Margins → 25.0% 21.3% -1.8% -5.7% -7.2% 2,679 2,632 1,820 1,716 1,217 1,129 -16.1% 669 561 Q2 FY’25 Q2 FY’
Slide 17: Key Retail Performance Overview
Key Retail Performance Overview INR in mn Retail Performance Vs Q2 & H1 FY26 (Sale of our Customers1) across Channels Q2 FY’26 Vs Q2 FY’25 H1 FY’26 Vs H1 FY’25 +4.6% +13.8% 3,494 3,341 7,551 6,634 Q2 FY’25 Q2 FY’26 H1 FY’25 H1 FY’26 VFL recorded SSSG2 of -2.0% in Q2 FY26 over Q2 FY25 VFL recorded SS
Slide 18: Profit and Loss Statement Q2 and H1 FY26
Profit and Loss Statement Q2 and H1 FY26 INR in mn Quarter ended Half Year ended Year ended Particulars Sep 30, 2025 Sep 30, 2024 Sep 30, 2025 Sep 30, 2024 31-Mar-25 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) Sr.no Income: I Revenue from operations 2,632 2,679 5,443 5,078 13,865 II Ot
Slide 19: Balance Sheet as at September 30, 2025
Balance Sheet as at September 30, 2025 INR in mn As at As at Particulars September 30, 2025 March 31, 2025 (Unaudited) (Audited) Assets Non-current assets Fixed Assets (Tangible and Intangibles) 2,410 2,329 Right-of-use assets 4,301 4,550 Investments 4,464 3,421 Other non-current assets 1,309 1,102
Slide 20: Cash flow Statement for the period ended September 30, 2025
Cash flow Statement for the period ended September 30, 2025 INR in mn Half Year Year ended Period ended March 31, 2025 Particulars September 30, 2025 (Unaudited) (Audited) Cash flow from operating activities Profit before tax 1,665 5,195 Operating profit before working capital changes 2,331 6,456 Mo
Slide 21: Manyavar Wedding Campaign and collection launch
Manyavar Wedding Campaign and collection launch A person in a pink dress A group of people posing for a photo AI-generated content may be incorrect. AI-generated content may be incorrect. OOH Campaign The “Aranya Collection” Launch Manyavar Wedding Ambassador Program Vedant Fashions Limited • 21
Slide 22: Mohey "Rang Do Campaign" celebrating every shade of "Mohey"
Mohey “Rang Do Campaign” celebrating every shade of “Mohey” with new wedding collection A group of women in dresses A person in a dress AI-generated content may be incorrect. AI-generated content may be incorrect. A group of people in fancy dresses AI-generated content may be incorrect. Mohey Rang D
Slide 23: Twamev: Evolving the "Truly You" proposition
Twamev: Evolving the “Truly You” proposition with Product-Led & Experiential Narratives A group of people posing for a photo AI-generated content may be incorrect. The “Twilight Gala” Collection Launch Art Brew - Store Event at Bangalore Wedding Asia in Bangalore Vedant Fashions Limited • 23
Slide 24: Celebration and Festive Wear Brand "Diwas"
Celebration and Festive Wear Brand “Diwas” Vedant Fashions Limited • 24
Slide 25: Mebaz: Redefining and expanding the Brand from Wedding to Celebrations
Mebaz: Redefining and expanding the Brand from Wedding to Celebrations A person and person sitting on a table with flowers A person and person in traditional indian attire holding hands A person in a black dress AI-generated content may be incorrect. AI-generated content may be incorrect. AI-generat
Slide 26: Financial Summary
Financial Summary
Slide 27: Long Track Record of Strong Growth Trajectory
Long Track Record of Strong Growth Trajectory INR in mn Revenue & Sales of Customers Gross Profit1 EBITDA2 Sales of Customer Margins Margins 8,362 14,736 18,614 18,527 18,929 66.8% 66.9% 67.4% 67.2% 67.2% 49.9% 50.1% 50.1% 48.6% 46.6% 13,549 13,675 13,865 9,126 9,186 9,315 6,783 6,643 6,464 10,408 6
Slide 28: Awards and Accolades
Awards and Accolades 2024 2015 2021 2019 “India Retail Champions Award” “National Retailer of the Year” “Transformational Contribution to Indian 4th Annual Indian Retail & Indian eRetail RAI Category “Most Admired Retailer of the year Apparel and Retail Industry” Awards Apparel & Lifestyle category
Slide 29: Glossary
Glossary Term Description Company Vedant Fashions Limited The report titled “Assessment of the apparel industry with a special focus on Indian wedding and celebration wear market in India” dated Sep-2021 as updated Crisil Report by the addendum dated December 2021 prepared by CRISIL EBO Exclusive br
Slide 30: Thank You
COMPANY : Vedant Fashions Limited CIN : L51311WB2002PLC094677 Investor Relations Team investor.relations@manyavar.com www.vedantfashions.com INVESTOR RELATIONS ADVISORS : MUFG Intime India Private Limited A part of MUFG Corporate Markets, a division of MUFG Pension & Market Services Mr. Nikunj Jain