Vedant Fashions Ltd Share Price – NSE /  BSE

Readymade Garments/ Apparells, Small Cap

Vedant Fashions has allotted 9,759 equity shares under ESOS on 16 September 2024. With this allotment, the paid up equity share capital of the company has increased to Rs. 24,29,08,366/- divided into 24,29,08,366 equity shares of Re. 1/- each.

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Vedant Fashions announced that the 22th Annual General Meeting (AGM) of the company will be held on 30 August 2024.

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Revenue from operations stood at Rs 239.82 crore in the quarter ended June 2024, declined 23.04% year on year.

Profit before tax tumbled 32.09% to Rs 83.06 crore in Q1 FY25 as against with Rs 123.80 crore posted in the corresponding quarter previous year.

Total expenses fell 12.11% year on year to Rs 178.22 crore in Q1 FY25. Cost of raw material used stood at Rs 28.15 crore (up 9.87% YoY) while depreciation and amortization expense was at Rs 37.18 crore (up 24.34% YoY).

EBTDA skid 22.9% to Rs 114.7 crore in Q1 FY25 as compared with Rs 148.7 crore posted in Q1 FY24. EBITDA margin was at 47.8% in Q1 FY25.

The company stated that Q1 FY25 was one of a kind of exceptional period in the last decade, with extremely low/ negligible wedding dates throughout the quarter nationally, resulting it to behave like a Non -Wedding quarter.

Further the company stated that it continued to maintain strong gross margin % of 67.7% along with healthy EBITDA & PAT margin of 47.8% and 26.1% in Q1 FY25 respectively.

On standalone basis, the company’s net profit tumbled 32.90% to Rs 61.94 crore in Q1 FY25 as against with Rs 92.32 crore posted in Q1 FY24. Revene from operations was at Rs 239.49 crore in the quarter ended June 2024, down 23.04% year on year.

Vedant Fashions is primarily engaged in manufacturing, trading and sale of readymade ethnic wear for men, women and kids primarily in India under the brand names Manyavar, Mohey, Mebaz, Twamev and Manthan.

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Vedant Fashions has allotted 10,588 equity shares under ESOP on 29 July 2024. With this allotment, the paid up equity share capital has increased to Rs 24,28,86,424 divided into 24,28,86,424 equity shares of Re 1 each.

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