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Swing Capital

Vedant Fashions Ltd

NSE: MANYAVAR BSE: 543463

Vedant Fashions Limited caters to the Indian celebration wear market with a diverse portfolio of brands. The company offers its customers a one-stop destination for every celebratory occasion and the largest men's Indian wedding and celebration wear by revenue.VFL commands a dominant position in conventionally unorganized market segment.[1]

₹432
52W: ₹329 — ₹850
PE 28 · Book ₹80.8 · +435% vs book
Market Cap₹10,495 Cr
Stock P/E28Price to Earnings
ROCE23.6%Return on Capital
ROE20%Return on Equity
Div. Yield1.9%Face Value ₹1

Strengths

  • +Company has a good return on equity (ROE) track record: 3 Years ROE 22.8%

Weaknesses

  • −Company has high debtors of 166 days.
  • −Working capital days have increased from 162 days to 254 days

Shareholding Pattern

Promoters74.94%
FIIs8.28%
DIIs12.62%
Public4.14%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters74.97%74.97%74.95%▼0.074.95%74.95%74.94%▼0.074.94%74.94%
FIIs9.04%9.53%▲0.510.54%▲1.010.14%▼0.49.88%▼0.39.76%▼0.19.29%▼0.58.28%▼1.0
DIIs11.89%11.57%▼0.310.38%▼1.210.59%▲0.211.1%▲0.510.95%▼0.212%▲1.112.62%▲0.6
Public4.09%3.93%▼0.24.13%▲0.24.31%▲0.24.07%▼0.24.35%▲0.33.77%▼0.64.14%▲0.4

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales474363240268511367281263492399
Expenses232188127146269202161152274221
Operating Profit242175113122242166121111218179
OPM %51%48%47%46%47%45%43%42%44%45%
Net Profit15811662671581017056135114
EPS ₹6.494.772.572.756.54.162.892.315.554.7

AI Insights

Revenue Trend

Mar 2026 revenue at ₹1,435Cr, up 3.5% YoY. OPM at 44%.

Debt Position

Borrowings at ₹458Cr. Debt-to-equity ratio: 0.24x. Healthy balance sheet.

Institutional Flow

DIIs: 12.62% (-2.95pp change). FIIs: 8.28% (+2.01pp change). Promoters hold 74.94%.

Margin & Efficiency

ROCE improving from 0% (Mar 2016) to 24% (Mar 2026). Working capital days: 254.

Valuation

PE 28x with 23.6% ROCE. Price is 435% above book value of ₹80.8. Dividend yield: 1.9%.

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