Motilal Oswal's research report on Vedant Fashions
Vedant Fashion’s (VFL) 3Q performance was adversely impacted by the lack of wedding days in Dec’25 and Jan’26, leading to a 2% drop in customer sales and a 4% YoY fall in reported revenue. While the wedding calendar creates quarterly fluctuations, VFL’s growth has been structurally weak for the past few years despite largely stable wedding days in FY24 and FY26 (refer: Exhibits 3 and 4).
Outlook
Maintain Neutral with a revised TP of INR510 (earlier INR600), premised on 30x FY28E EPS.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Vedant Fashions_18022026_Motilal Oswal