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ICICI Direct's IPO Report
Vedant Fashions Ltd. is a category leader in the branded Indian wedding and celebration market under the brand ‘Manyavar'. It has a differentiated business model combining strengths of retailing with branded consumer play.
Its widespread distribution network consisting of 535 exclusive branded outlets (90% of revenue) with a footprint of 1.2 million square feet.
Strong operating metrics with one of the industry's highest profit after tax margin of ~26% (FY20) and capital efficient business model with return on capital employed of ~32% as on FY20.
Vedant Fashions' revenue per store was at Rs 2.4 crore as on FY20.
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