Vedant Fashions Approves Q1 Financial Results and Reappoints Key Directors
Vedant Fashions Limited announced the outcomes of its Board meeting held on July 25, 2026, approving the unaudited financial results for the quarter ending June 30, 2026. The board also approved the re-appointment of several key directors, including Mr. Ravi Modi, Mrs. Shilpi Modi, and Mr. Manish Mahendra Choksi, all for subsequent terms of five years.The approval of the unaudited results was complemented by a Limited Review Report issued by Statutory Auditors M/s B S R & Co. LLP. The company reported one reportable segment: "Branded Fashion apparel and accessories."
Board Approvals and Director Re-appointments
The Board meeting considered and approved the following re-appointments, based on recommendations from the Nomination and Remuneration Committee:Chairman and Managing Director
Mr. Ravi Modi was re-appointed as Chairman and Managing Director for a term of five consecutive years, running from August 28, 2026, up to and including August 27, 2031. Mr. Modi, who is the Founder and Promoter of the Company, has over two and a half decades of experience in the industry and has been instrumental in steering strategic initiatives across critical functions, strengthening the company's position in the Indian celebration and wedding wear segment. He is also committed to social impact and education, and his leadership has been profiled by platforms such as the International Retail Forum, YourStory, and CEO Insights India.Whole-time Director
Mrs. Shilpi Modi was re-appointed as a Whole-time Director for a term of five consecutive years, commencing from August 28, 2026, up to and including August 27, 2031. Mrs. Modi, who is a Promoter of the Company and has been integral to the organization since its inception, brings nearly 25 years of experience in the garment industry, overseeing the management of the company's entire product lifecycle.Independent Director
Mr. Manish Mahendra Choksi was re-appointed as Non-Executive Independent Director for a second term of five consecutive years. His tenure begins on September 06, 2026, and extends up to September 05, 2031. Mr. Choksi has over three decades of entrepreneurial and leadership experience, holding degrees from the University of Houston, USA. He is a Non-Executive Director of Asian Paints Limited (since 1992) and serves on the boards of Torrent Pharmaceuticals Limited and Birlasoft Limited.Financial Performance for Q ended June 30, 2026
The company's financial performance for the quarter ending June 30, 2026, as well as comparative periods, reflects the results approved by the Board of Directors. The Statement of Profit and Loss (all amounts are in INR Million) is detailed below:| Particulars | Three months ended June 30, 2026 (Unaudited) | Three months ended March 31, 2026 (Unaudited) | Three months ended June 30, 2025 (Unaudited) | Year ended March 31, 2026 (Audited) |
|---|---|---|---|---|
| Income: | ||||
| Revenue from operations | 3,013.65 | 3,994.27 | 2,811.90 | 14,354.79 |
| Other income | 296.92 | 263.36 | 258.28 | 935.18 |
| Total income | 3,310.57 | 4,257.63 | 3,070.18 | 15,289.97 |
| Expenses: | ||||
| Cost of materials consumed (Raw materials) | 267.67 | 286.82 | 236.94 | 1,253.41 |
| Cost of materials consumed (Accessories & packing materials) | 38.97 | 47.03 | 38.38 | 176.13 |
| Purchases of stock-in-trade | 505.60 | 574.92 | 358.59 | 2,260.57 |
| Changes in inventories of finished goods, stock-in-trade and work-in-progress | 73.63 | 313.57 | 142.94 | 529.71 |
| Employee benefits expense | 151.63 | 156.91 | 155.68 | 660.62 |
| Finance costs | 129.51 | 132.26 | 141.31 | 563.48 |
| Depreciation and amortisation expense | 422.01 | 438.72 | 397.80 | 1,695.56 |
| Other expenses | 666.26 | 826.58 | 673.48 | 3,191.20 |
| Total expenses | 2,255.28 | 2,776.81 | 2,145.12 | 10,330.68 |
| Profit before tax | 1,055.29 | 1,480.82 | 925.06 | 4,959.29 |
| Tax expense: | ||||
| Current tax | 233.31 | 324.12 | 268.52 | 1,256.76 |
| Deferred tax | 15.87 | 13.67 | (46.03) | (52.90) |
| Total Tax expense | 249.18 | 337.79 | 222.49 | 1,203.86 |
| Profit for the period | 806.11 | 1,143.03 | 702.57 | 3,755.43 |
The company also reported that 5,142 equity shares were issued to employees against stock options during the quarter ended June 30, 2026. The company has only one reportable segment: "Branded Fashion apparel and accessories." Consolidated financial results are not applicable as the company does not have any investments in subsidiary, associate, or joint venture for the period.
MANYAVAR Stock Price Movement
On Friday, Vedant Fashions Limited shares edged higher, closing at ₹402.3 after climbing 0.96%. The stock settled with a volume of 99,319 shares traded during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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