Credo Brands Marketing Limited has informed the Exchange about Investor Presentation
MUFTI · price
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Credo Brands (MUFTI) reported Q1 FY26 revenue of ₹119.9 crores, down 3% YoY, with PAT falling sharply 36% to ₹6.3 crores. EBITDA declined 7% to ₹31 crores (margin at 25.9%), while gross margin actually improved to 61.6% from 58.6%. Management attributed revenue softness to muted discretionary spending in Tier 2 and Tier 3 markets. The company is entering a 'premiumisation' phase, planning to open around 20 new premium flagship stores in FY26 while closing underperforming outlets. Marketing spend is guided to rise to 6-7% of revenue in FY26 and 8-10% in FY27, with benefits expected only from FY28 onwards. Digital sales on MUFTI's own website more than doubled YoY, and the company ended the quarter with 444 EBOs across 247 cities.
Near-term margins and profits will remain under pressure as the company ramps up brand-building investments and store refurbishments, but the management's premium pivot could support long-term growth. The sharp 36% PAT decline and weak revenue print may weigh on the stock in the short term, though improving gross margins and strong digital traction offer some comfort.