Vedant Fashions Limited has informed the Exchange about the Transcript of the Conference Call organised and held on Thursday, July 31, 2025.

Vedant Fashions (MANYAVAR) reported Q1 FY26 revenue of ~Rs. 281 crores, up 17.2% year-on-year, driven by a rebound in the wedding calendar. Customer sales grew ~23% to Rs. 4,057 million and same-store sales growth (SSG) came in at ~17.6%. The company posted a healthy EBITDA margin of ~43.2%, gross margin of 66.9%, and PAT of ~Rs. 70 crores (up 12.4% YoY). Marketing spend jumped to 5.6% of revenue (vs 2.3% in Q1 FY25) as the company normalized ad spends, which caused a 300 bps margin dip quarter-on-quarter. Management guided that margins should improve with positive operating leverage in Q3, the seasonally strongest quarter, and that the elevated ad spend is the normal annual run-rate, not a step-up. Store strategy shifted toward flagship stores and quality over quantity: gross additions will be 8-10% of last year's base, but net square footage will stay flat as older non-performing stores are consolidated. Management noted continued weak consumer sentiment in mid-premium discretionary, though AP/Telangana rebounded sharply, and growth brands Mohey, Twamev, and Diwas are gaining traction.