Manyavar - Tailwinds May Emerge By FY26: ICICI Securities

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.Wedding days (trackable) and number of weddings (un-trackable; but ~10 million per annum) are critical for the success of Manyavar owner Vedant Fashion Ltd.’s business model. Our analysis of wedding days data over last 15 years suggests-correlation between wedding days and Vedant’s revenue growth is 0.73 (FY11-24),Lower number of wedding days potentially lead to market share loss to unorganised segment due to service-related capacity constraint of stores,FY25E has one of the lowest number of wedding days (at 54 days) over the last ten years; may lead to downgrade in consensus estimates.That said, we reckon retail expansion rate (at ~15%) continues to inspire confidence in the business model. The core character (competitiveness) of the business remains unchanged. Add..Key downside risks:slower-than expected pick-up in discretionary consumption andrise in competition from branded retailers..Click on the attachment to read the full report:.Cello World - Among The Best In Industry: Motilal Oswal.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Manyavar - Tailwinds May Emerge By FY26: ICICI Securities

Wedding days, number of weddings – everything is important

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