VIP Clothing Q3 FY26 Revenue Declines 18.9% to ₹507.76 Crore, PAT Down 53.5% to ₹9.27 Crore
VIP Clothing reported Q3 FY26 revenue of ₹507.76 Crore, down 18.9% YoY. PAT decreased by 53.5% to ₹9.27 Crore. For 9M FY26, revenue grew 6% to ₹1,822.92 Crore, and PAT increased 77.3% to ₹53.87 Crore. The company aims for ₹420 Crore revenue by FY27 and plans to launch a women's innerwear range.
The decline in quarterly results and the attributed reasons for the shortfall have a moderate impact on the company's immediate financial outlook, although future growth plans and a credit rating upgrade provide some mitigation.
The company reported a significant year-on-year decline in revenue and profit for the third quarter, which negatively impacts the sentiment.
VIP Clothing Limited has announced its un-audited financial results for the third quarter ended December 31, 2025. The company reported revenue from operations of ₹507.76 Crore for Q3 FY26, a decrease of 18.93% compared to ₹626.29 Crore in Q3 FY25. This decline is primarily attributed to a shift in modern trade and export billing to the subsequent quarter.
For the nine-month period ended 9M FY26, revenue from operations stood at ₹1,822.92 Crore, registering a growth of 6.00% year-on-year from ₹1,719.79 Crore in 9M FY25. EBITDA for Q3 FY26 was ₹36.75 Crore, with EBITDA margins at 7.24%. For 9M FY26, EBITDA improved significantly to ₹160.67 Crore, a growth of 47.38% compared to ₹109.02 Crore in the corresponding period last year, with EBITDA margins at 8.81%. Profit After Tax (PAT) for Q3 FY26 was ₹9.27 Crore, a decrease of 53.54% from ₹19.96 Crore in Q3 FY25. For 9M FY26, PAT increased to ₹53.87 Crore from ₹30.38 Crore in 9M FY25, with PAT margins at 2.94%.
The company's management highlighted steady progress in strengthening its premium positioning, expanding distribution reach, and deepening consumer engagement. The relaunch of Frenchie X and the Yuwa Series have received encouraging responses. India Ratings and Research upgraded VIP Clothing Limited’s long-term bank loan rating to ‘IND BBB -’ with a Stable Outlook, leading to a reduction in borrowing costs from 12.65% to 10.10%.
Looking ahead, VIP Clothing aims to achieve ₹420 Crore in revenue by FY27, representing a ~35% CAGR. The company plans to launch its women's innerwear range in the first half of the next financial year, expecting its contribution to increase from ~9% in FY25 to over 20% by FY27. For Q4 FY26, revenue is expected at ₹70–72 Crore, with EBITDA margins improving by over 2%. The company is on track to achieve its full-year revenue target of ₹252–255 Crore.
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VIP Clothing Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by VIP Clothing Limited. Read the original for the full detail.