Sells women's ethnic wear under the Kiaasa brand through Exclusive Brand Outlets (EBOs), targeting value-conscious Tier 2 and Tier 3 consumers at an average selling price of ₹2,000-2,500. As of FY26 it ran 124+ stores across 70+ cities with a customer base of over 5.5 lakh and same-store sales growth of 12.89%. Earnings come mainly from in-store sales at EBOs, an online channel that ships from the nearest physical store and currently contributes 1-2% of revenue, a small Nine99 clearance format that feeds into the EBO network, and newer lines including Kiaasa Divas (girls' ethnic wear) and a DIY custom-garment studio. The cost base is dominated by other operating expenses (23.8% of revenue) and employee costs (10.4%), with capex at 3.3% of revenue funding new outlets at ₹24-25 lakh each. Roughly ₹46 crore of IPO proceeds raised in March 2026 is earmarked for 66 new stores, with management targeting 250 EBOs by FY28, 300 by FY30, and an additional 600-1,000 multi-brand or large-format counters by FY30. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Exclusive Brand Outlets (EBOs), Online channel, Nine99 clearance format, Kiaasa Divas, DIY studio, MBO / LFS counters. Asset-light, consumer-facing branded apparel retail with a young store base
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 135 |
| EBITDA (ex other income) | — |
| margin % | — |
| Owners' profit | — |
| EPS, as reported (₹) | 8.43 |
| ROE % · ROCE % | — · 13.9 |
| Debt / equity (x) | — |
| Cash from operations | (76) |
| Capex | (4) |
| ₹ crore | Q4 FY26 |
|---|---|
| Revenue | 77 |
| Profit before tax | 6 |
| Net profit | — |
| EPS (₹) | 3.30 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| PAGE INDUSTRIES LTD | 39,474 | 52.2 | 26.27 | — | 50.8 | 58.6 | — | 21.1 |
| ARVIND LIMITED | 15,120 | 36.5 | 3.65 | 15.8 | 10.3 | 11.9 | 12.9 | 9.4 |
| GOKALDAS EXPORTS LTD. | 5,773 | 56.0 | 2.67 | 15.3 | 4.6 | 6.0 | 26.9 | 12.1 |
| PEARL GLOBAL IND LIMITED | 5,506 | 17.7 | 3.83 | 11.0 | 18.8 | 16.8 | 27.5 | 11.2 |
| LUX INDUSTRIES LIMITED | 3,443 | 32.3 | 1.89 | 19.2 | 5.8 | 7.3 | 8.4 | 8.2 |
| KEWAL KIRAN CLOTHING LTD | 3,051 | 20.6 | 2.73 | 11.2 | 13.6 | 16.6 | 32.0 | 24.0 |
| S. P. APPARELS LIMITED | 2,582 | 24.5 | 2.75 | 12.4 | 10.7 | 14.2 | 19.3 | 15.9 |
| KITEX GARMENTS LTD | 2,473 | — | 2.00 | 36.2 | (1.1) | 0.3 | 7.9 | 11.3 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 8 Sept 2026 · Newspaper ad of 4th AGM Notice and Book Closure published | compliance | minimal | — | — |
| 7 Sept 2026 · Kiaasa Retail submits Annual Report for FY 2025-26 | results | high | — | — |
| 7 Sept 2026 · Kiaasa Retail AGM on Sept 30: capital hike to Rs 35 cr, ESOP 2026, higher borrow limit | board shareholder meetings | low | — | — |
| 27 Aug 2026 · Newspaper ads published for 4th Annual General Meeting | compliance | minimal | — | — |
| 25 Aug 2026 · AGM on Sept 30, 2026; record date Sept 23, 2026 | board shareholder meetings | low | — | — |
| 25 Aug 2026 · Kiaasa Retail board approves ESOP 2026, auditor appointment, capital hike | management changes | medium | — | — |
| 1 Aug 2026 · Kiaasa Retail opens two new stores in New Delhi and Jhansi | business updates | medium | — | — |
| 30 Jul 2026 · Kiaasa Retail Q1 FY27 IPO Fund Utilization Certificate | compliance | minimal | — | — |
| 8 Jul 2026 · Reg 74(5) Certificate for Q1FY27: No shares dematerialised | compliance | minimal | — | — |
| 1 Jun 2026 · The company has opened three new stores during the month of May, 2026 | business updates | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 9.1 | 17.7 | 10 of 39 | 76% |
| ROCE | 9.9 | 8.4 | 20 of 44 | 56% |
| Market cap | 55 | 158 | 30 of 44 | 33% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
