| Metric | Value (₹ Cr) | Q3 FY26 | Q4 FY25 |
|---|---|---|---|
| Revenue | 162.30 | 11.1% | 5.9% |
| Total Income | 166.52 | 11.6% | 6.7% |
| Expenditure | 145.92 | 5.6% | 6.4% |
| PBT | 20.61 | 112.5% | 8.8% |
| Net Profit | 15.23 | 117.0% | 10.1% |
| OPM | 25.58% | 3.60pp | 1.25pp |
| NPM | 9.15% | 4.45pp | 0.29pp |
| EPS | 2.33 | 117.8% | 9.4% |
Credo Brands FY26 Revenue at ₹592.1 Cr
21 May 2026 · 21 May, 8:32 pm
Summary
Credo Brands Marketing Limited (MUFTI) delivered mixed financial performance for Q4 and the full fiscal year ended March 31, 2026. Q4 FY26 revenue saw a 5.9% year-over-year growth to ₹162.3 crore, with Profit After Tax increasing by 10.9% to ₹15.3 crore, demonstrating stability amidst a subdued consumption environment. However, the full financial year FY26 experienced a decline in total revenue to ₹592.1 crore and PAT to ₹47.4 crore, attributed to challenging market conditions and network rationalization efforts. Management emphasized the company's strategic focus on brand strengthening, retail network quality improvement, and long-term investments through its MUFTI 2.0 transformation and enhanced digital strategies, aiming for a healthier and more aspirational retail network.
Key Highlights
- 1
Credo Brands Marketing Limited (MUFTI) reported a 5.9% year-over-year increase in Q4 FY26 total revenue, reaching ₹162.3 crore from ₹153.2 crore in the prior-year quarter.
- 2
Profit After Tax (PAT) for Q4 FY26 grew by 10.9% to ₹15.3 crore, up from ₹13.8 crore in Q4 FY25.
- 3
For the full financial year 2026, total revenue decreased by 4.2% to ₹592.1 crore, while PAT declined by 30.7% to ₹47.4 crore compared to FY25.
- 4
The company's EBITDA for FY26 stood at ₹154.2 crore, achieving an EBITDA margin of 26.0%, a decrease from 29.1% in FY25.
- 5
The total number of Exclusive Brand Outlets (EBOs) reached 429 stores as of March 31, 2026, reflecting the company's retail footprint.
- 6
Credo Brands Marketing Limited reported a Return on Capital Employed (RoCE) of 13.8% and Return on Equity (RoE) of 11.2% for FY26.
- 7
The company made continued progress on its MUFTI 2.0 transformation, including opening new-format premium stores and strengthening digital and omnichannel capabilities.
Management Comments
Mr. Kamal Khushlani
FY26 was a year of transition and disciplined execution for MUFTI. While overall market conditions in the mid-premium and premium apparel segment remained challenging for most of the year, we stayed consistent with the direction and guidance we had communicated earlier. We focused on strengthening the brand, improving the quality of our retail network, and investing behind the long-term positioning of MUFTI. Q4 revenues stood at Rs. 162 Crs., broadly reflecting the stability of the business despite a subdued consumption environment and the continued impact of our network rationalisation strategy. During the quarter, we also saw improvement compared to the same period last year, supported by better product mix, disciplined inventory management, and improved execution across channels. EBITDA for the quarter stood at Rs. 42 Crs. While profitability remained under pressure due to increased investments in advertising, branding, and premium retail initiatives, these are conscious investments being made to strengthen MUFTI’s long-term relevance and consumer connect. Advertising spends during Q4 stood at approximately Rs. 13 Crs., representing nearly 8% of quarterly revenues, as we continued to scale visibility for the MUFTI 2.0 transformation across digital and offline touchpoints. FY26 marked an important phase in our MUFTI 2.0 journey. Over the year, we continued to premiumise the store experience, sharpen merchandise architecture, and evolve the overall presentation of the brand. The response to the new-format stores opened so far has been encouraging and reinforces our belief that consumers continue to value brands that evolve with changing aspirations. As part of this transformation, we remain focused on improving productivity across the retail network by closing underperforming stores and selectively expanding through experience-led stores in stronger locations. Our objective remains clear, to build a healthier, more productive, and more aspirational retail network over time. Looking ahead, the broader macroeconomic environment continues to remain uncertain, with ongoing geopolitical tensions and global conflict situations potenti
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