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In Q3 December 2021, profit before tax (PBT) rose 24% year-on-year to Rs 170.96 crore. EBITDA jumped 22.7% to Rs 198.4 crore. EBITDA margin stood at 52% in Q3 December 2021 lower than 54% in Q3 December 2020.
Vedant Fashions recorded SSSG (Same-Store Sales Growth) of 31% in Q3 FY22 over Q3 FY21 and 79% SSSG in YTD Dec FY22 over YTD Dec FY21.
Headquartered in Kolkata, incorporated in 2002 by Ravi Modi, Vedant Fashions is engaged in retailing of ethnic wear. Its Manyavar brand is a category leader in the branded Indian wedding and celebration wear market with a pan India presence. Its other brands include Twamev, Manthan, Mohey and Mebaz. The Manyavar brand accounts for about 80% of the company's revenues.
Shares of Manyavar were up 0.23% at Rs 894.40 on the BSE.
The stock entered the bourses on 16 February 2022. It was listed at Rs 936, representing a premium of 8.08% to the initial public offer (IPO) price of Rs 866.
The IPO of Manyavar was subscribed 2.57 times. The issue opened for bidding on 4 February 2022 and it closed on 8 February 2022. The price band of the IPO was fixed at Rs 824-866 per share.
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