MANYAVAR

Vedant Fashions Limited

Indian wedding and celebration wear retailer under Manyavar brand

Consumer Discretionary›Consumer Services›Retailing›Speciality Retail

vedantfashions.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹519.85
Market cap
12,622 Cr
Stock P/E
32.7
P/B
6.42
Dividend yield
1.5%
ROE (FY24)
25.9%
ROCE (FY24)
37.0%
Operating margin (FY24)
38.3%
OCF / EBITDA (FY26)
76.6%
OCF / EBITDA (3Y)
69.9%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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What you need to know

Manyavar (Vedant Fashions) sells branded wedding and celebration wear in India through exclusive brand outlets, multi-brand outlets and online channels, and calls itself India's leading wedding and celebration wear company (July 2026 call).

Company snapshot

3rdBy market cap

Ranked among 18 companies in Speciality Retail.

What we see

Positives
  • ✓Net margin of 30.3% — the business keeps a healthy share of every rupee it earns.
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Statement tables · Standalone

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales218 Cr474 Cr362 Cr239 Cr268 Cr511 Cr367 Cr281 Cr263 Cr492 Cr399 Cr301 Cr
Operating expenses (approx.)125 Cr232 Cr188 Cr127 Cr146 Cr269 Cr202 Cr161 Cr152 Cr274 Cr221 Cr170 Cr
EBITDA93 Cr242 Cr175 Cr112 Cr122 Cr242 Cr166 Cr121 Cr111 Cr218 Cr179 Cr131 Cr
OPM %42.6%51.0%48.2%47.0%45.5%47.4%45.1%42.9%42.1%44.4%44.8%43.5%
Other income15 Cr15 Cr24 Cr21 Cr19 Cr22 Cr22 Cr26 Cr20 Cr21 Cr26 Cr30 Cr
Interest11 Cr11 Cr13 Cr14 Cr14 Cr14 Cr14 Cr14 Cr15 Cr14 Cr13 Cr13 Cr
Depreciation32 Cr34 Cr38 Cr37 Cr37 Cr39 Cr39 Cr40 Cr42 Cr44 Cr44 Cr42 Cr
Profit before tax65 Cr212 Cr147 Cr83 Cr90 Cr212 Cr135 Cr93 Cr74 Cr181 Cr148 Cr106 Cr
Tax %24.7%25.5%21.6%24.9%25.8%25.3%24.9%24.1%24.3%25.6%22.8%23.6%
Net profit49 Cr158 Cr116 Cr62 Cr66 Cr158 Cr101 Cr70 Cr56 Cr135 Cr114 Cr81 Cr
EPS (₹)₹2.02₹6.49₹4.76₹2.55₹2.73₹6.50₹4.16₹2.89₹2.31₹5.55₹4.71₹3.32

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales542 Cr1,009 Cr1,326 Cr1,365 Cr1,386 Cr1,435 CrSign in free for the trailing twelve months
Operating expenses (approx.)307 Cr528 Cr668 Cr708 Cr744 Cr807 CrSign in free for the trailing twelve months
EBITDA235 Cr480 Cr658 Cr657 Cr643 Cr628 CrSign in free for the trailing twelve months
OPM %43.3%47.6%49.6%48.1%46.3%43.8%Sign in free for the trailing twelve months
Other income58 Cr49 Cr37 Cr68 Cr85 Cr94 CrSign in free for the trailing twelve months
Interest25 Cr27 Cr30 Cr44 Cr55 Cr56 CrSign in free for the trailing twelve months
Depreciation89 Cr88 Cr97 Cr132 Cr153 Cr170 CrSign in free for the trailing twelve months
Profit before tax178 Cr414 Cr567 Cr548 Cr519 Cr496 CrSign in free for the trailing twelve months
Tax %26.7%25.5%25.4%24.4%25.2%24.3%Sign in free for the trailing twelve months
Net profit131 Cr308 Cr423 Cr415 Cr388 Cr376 CrSign in free for the trailing twelve months
EPS (₹)₹5.27₹12.63₹17.42₹17.07₹15.99₹15.46Sign in free for the trailing twelve months
Dividend payout %—0.0%28.7%52.7%53.1%51.8%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital25 Cr24 Cr24 Cr24 Cr24 Cr24 Cr
Reserves1,075 Cr1,060 Cr1,371 Cr1,573 Cr1,762 Cr1,940 Cr
Borrowings——————
Other liabilities523 Cr665 Cr766 Cr905 Cr960 Cr888 Cr
Total liabilities1,623 Cr1,749 Cr2,161 Cr2,503 Cr2,747 Cr2,853 Cr
Fixed assets (net)77 Cr73 Cr349 Cr496 Cr521 Cr493 Cr
CWIP0.25 Cr0 Cr2 Cr0 Cr0 Cr0 Cr
Investments553 Cr776 Cr793 Cr958 Cr1,051 Cr1,214 Cr
Inventories100 Cr141 Cr173 Cr138 Cr202 Cr145 Cr
Trade receivables366 Cr395 Cr473 Cr565 Cr619 Cr651 Cr
Cash & bank6 Cr3 Cr8 Cr22 Cr17 Cr11 Cr
Other assets520 Cr361 Cr363 Cr324 Cr337 Cr338 Cr
Total assets1,623 Cr1,749 Cr2,161 Cr2,503 Cr2,747 Cr2,853 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity253 Cr341 Cr459 Cr478 Cr389 Cr481 Cr
Cash from investing-90 Cr62 Cr-228 Cr-104 Cr-16 Cr-102 Cr
Cash from financing-165 Cr-406 Cr-226 Cr-361 Cr-377 Cr-386 Cr
Net cash flow-2 Cr-3 Cr5 Cr14 Cr-4 Cr-6 Cr
Free cash flow (OCF − Capex)—339 Cr454 Cr474 Cr385 Cr469 Cr

Ratios

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
ROCE %32.9%31.7%19.0%41.7%43.4%37.0%
ROE %20.0%22.2%12.2%29.1%30.7%25.9%
Debtor days151148233139127151
Inventory days384410562392388349
Days payable245171277200192224
Cash conversion cycle290388518331324275
OCF / EBITDA %69.9%61.8%103.9%70.8%70.0%73.4%
OCF / EBITDA % (3 years)——75.1%74.8%76.1%71.5%
Debt / equity0.0000—————
Current ratio3.864.023.753.013.373.73
Net debt / EBITDA-0.0064-0.02-0.03-0.0073-0.01-0.03