Vedant Fashions Limited
NSE: MANYAVAR · Speciality Retail · sector
₹481.50NSE close 2026-10-26
Key numbers
Market cap₹11,699 cr
Price₹481.50
52w high / low₹699 / ₹329
P/E30.3xSector median 31.1x
P/B6.0xSector median 4.8x
Book value₹80.8
Dividend yield1.66%Sector median 1.48%
ROE20.6%Sector median 12.5%
ROCE28.7%Sector median 20.8%
OPM43.9%Sector median 11.0%
Debt / equity0.00xSector median 0.16x
EV/EBITDA17.5xSector median 11.2x
Interest cover10.2x
Current ratio3.67x
Sales growth 3y+2.7%Sector median +8.0%
Profit growth 3y-3.9%Sector median -3.9%
PEG–
Last 12 months to Jun 2026, Standalone. "Sector median" = middle value of 24 companies in Speciality Retail (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹537 cr vs borrowings ₹0 cr (FY26): cash is higher (net cash).
- Operating profit covered interest 10.2x in the last 12 months.
- Operating cash flow was below net profit in 0 of the last 5 years.
- Revenue was higher than a year earlier in 2 of the last 4 quarters.
- Other income was 25% of net profit in the last 12 months.
- Debtor days went from 151 (FY24) to 166 (FY26).
- Dividend paid in 4 of the last 5 financial years.
- Price ₹481.50 on 2026-10-26: -31.1% from the 52-week high, +46.3% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹1,400.35 · low ₹337.10
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 268 | 511 | 367 | 281 | 263 | 492 | 399 | 301 |
| EBITDA | 122 | 242 | 166 | 121 | 111 | 218 | 179 | 131 |
| OPM % | 45.5% | 47.4% | 45.1% | 42.9% | 42.1% | 44.4% | 44.8% | 43.5% |
| Other income | 19 | 22 | 22 | 26 | 20 | 21 | 26 | 30 |
| Net profit | 66 | 158 | 101 | 70 | 56 | 135 | 114 | 81 |
| EPS (₹) | 2.73 | 6.50 | 4.16 | 2.89 | 2.31 | 5.55 | 4.71 | 3.32 |
| Revenue YoY | -1.6% | -3.8% | +8.7% | +7.2% | ||||
| Profit YoY | -15.5% | -14.6% | +13.0% | +14.7% |
Standalone figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 1,009 | 1,326 | 1,365 | 1,386 | 1,435 | 1,456 |
| EBITDA | 480 | 658 | 657 | 643 | 628 | 639 |
| Net profit | 308 | 423 | 415 | 388 | 376 | 386 |
| EPS (₹) | 12.63 | 17.42 | 17.07 | 15.99 | 15.46 | 15.89 |
| Revenue growth | +31.4% | +2.9% | +1.6% | +3.5% | +2.0% | |
| Profit growth | +37.1% | -2.0% | -6.3% | -3.3% | -2.5% | |
| Dividend / share (₹) | – | 5.00 | 9.00 | 8.50 | 8.00 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +2.7% | – | +2.0% |
| Net profit | -3.9% | – | -2.5% |
| EPS | -3.9% | – | – |
| Share price | – | -38.3% (2y) | -27.9% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 1,395 | 1,597 | 1,786 | 1,964 |
| Borrowings | – | 0 | 0 | 0 | 0 |
| Cash & equivalents | – | 611 | 604 | 726 | 537 |
| Total assets | – | 2,161 | 2,503 | 2,747 | 2,853 |
| Fixed assets | – | 349 | 496 | 521 | 493 |
| Capital work in progress | – | 2 | 0 | 0 | 0 |
| Investments | – | 189 | 375 | 342 | 688 |
| Receivables | – | 473 | 565 | 619 | 651 |
| Inventory | – | 173 | 138 | 202 | 145 |
| Payables | – | 84 | 88 | 102 | 62 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 341 | 459 | 478 | 389 | 481 |
| Cash from investing | 62 | -228 | -104 | -16 | -102 |
| Cash from financing | -406 | -226 | -361 | -377 | -386 |
| Capex | 2 | 5 | 4 | 3 | 12 |
| Free cash flow | 339 | 454 | 474 | 385 | 469 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 30.3% | 26.0% | 21.7% | 19.1% |
| ROCE % | – | 42.8% | 37.1% | 32.2% | 28.1% |
| Debtor days | – | 130 | 151 | 163 | 166 |
| Inventory days | – | 180 | 133 | 200 | 125 |
| Payable days | – | 88 | 85 | 101 | 54 |
| Cash conversion cycle (days) | – | 222 | 199 | 262 | 237 |
| Working capital days | – | 254 | 266 | 317 | 257 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 74.94% |
| FIIs | 7.35% |
| DIIs | 14.17% |
| of which Mutual funds | 12.08% |
| of which Insurance | 1.17% |
| Public (non-institutions) | 3.53% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 74.96% | 74.95% | 74.95% | 74.95% | 74.94% | 74.94% | 74.94% | 74.94% |
| Promoter group | % |
|---|---|
| Ravi Modi Family Trust (acting through its trustee, Modi Fiduciary Services Private Limited) | 57.15% |
| Ravi Modi HUF | 16.00% |
| Shilpi Modi | 1.09% |
| Ravi Modi | 0.69% |
| Usha Devi Modi | 0.00% |
| Public holders above 1% | % |
|---|---|
| Government Pension Fund Global | 3.18% |
| SBI Large & Midcap Fund | 3.00% |
| HDFC Small CAP Fund | 2.50% |
| Nippon Life India Trustee Ltd-a/c Nippon India Mutual Fund | 2.37% |
| India Capital Fund Limited | 1.20% |
| ICICI Prudential Life Insurance Company Limited | 1.17% |
| Aditya Birla SUN Life Mutual Fund | 1.09% |
80,960 shareholders. Pledged: – of promoter shares.
Peers in Speciality Retail
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| TRENT | ₹1,46,843 cr | 81.2x | 21.0x | 29.1% | 34.1% | 18.8% | +34.5% | 0.12% |
| LENSKART | ₹1,13,227 cr | 170.0x | 12.9x | 7.5% | 12.0% | 20.8% | – | – |
| MANYAVAR | ₹11,699 cr | 30.3x | 6.0x | 20.6% | 28.7% | 43.9% | +2.7% | 1.66% |
| ABLBL | ₹8,505 cr | 48.1x | 6.0x | 12.5% | 26.4% | 15.6% | – | – |
| AVL | ₹7,230 cr | 52.0x | 10.5x | 21.9% | 22.4% | 8.9% | – | 0.18% |
| V2RETAIL | ₹5,884 cr | 31.9x | 6.5x | 28.6% | 28.7% | 15.6% | +54.0% | – |
| ABFRL | ₹4,831 cr | – | 0.8x | -12.3% | -5.8% | 7.6% | -13.0% | – |
| ARVINDFASN | ₹4,797 cr | 40.1x | 5.1x | 12.6% | 29.9% | 13.0% | +6.0% | 1.49% |
| SSRETAIL | ₹4,336 cr | – | – | – | – | – | – | – |
| PERNIASPOP | ₹3,421 cr | – | – | – | – | – | – | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-09-21 | Dividend | Dividend - Rs 7.75 Per Share |
| 2025-08-28 | Dividend | Dividend - Rs 8 Per Share |
| 2024-08-23 | Dividend | Annual General Meeting/Dividend - Rs 8.50 Per Share |
| 2023-08-17 | Dividend | Annual General Meeting/Dividend - Rs 9 Per Share |
| 2022-08-30 | Dividend | Annual General Meeting/Dividend - Rs 5 Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Manufacturing and Trade: Textile, leather, and other apparel products, Wholesale & Retail Trading
| Sector | Consumer Discretionary |
| Industry | Speciality Retail |
| Sub-industry | Speciality Retail |
| Symbol | MANYAVAR |
| BSE code | 543463 |
| ISIN | INE825V01034 |
| Face value | ₹1.0 |
| Incorporated | 2002-05-24 |
| Website | www.vedantfashions.com |
| Plants (India / abroad) | 16 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.