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Market Cap32,029 CrEPS15.7High1409
Stock P/E84.0Net Profit Margin28.0Low1368.15
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Open Price1321.5Volume3
Prev. Close1321.5


Market Cap32,029 CrROE29.1%
P/E Ratio(TTM)84.0EPS(TTM)13.0
P/B Ratio28.2Dividend Yield0.4%
Industry P/E63.0Book Value46.7
Face Value1.0

About the Company

Vedant Fashions is the largest company in India in the men’s Indian wedding and celebration wear segment. The company’s ‘Manyavar’ brand is a category leader in the branded Indian wedding and celebration wear market with a pan India presence, as of Financial Year 2020. It has established a multi-channel network and introduced brands by identifying gaps in the under-served and high-growth Indian wedding and celebration wear category. It focus on spreading India’s vibrant culture, traditions and heritage through its aspirational yet value for money brands at a diverse range of price points. It offers a one-stop destination with a wide-spectrum of product offerings for every celebratory occasion and aim to deliver an aristocratic yet seamless purchase experience to its customers through its aesthetic franchisee-owned exclusive brand stores.

The company’s portfolio of products includes a diverse range of attires and accessories, each conceptualized by its designers who have experience in serving the distinct regional preferences of the Indian customer. Its products are manufactured by artisans having an abundance of expertise in the Indian wedding and celebration wear market, supplemented by its own ingrained knowledge of the demands of Indian festivals and weddings. Its wedding portfolio also includes different ranges of creations for different members of the wedding entourage, besides unique personalization for the bride and the groom. Over the years, it has built longstanding relationships with vendors and artisans, which have been critical towards it being able to command a dominant position in a market that was conventionally an unorganized market.

Business area of the company

Vedant Fashions caters to the Indian celebration wear market with a diverse portfolio of brands. The company’s products include men’s ethnic and celebration wear items such as Indo-western, sherwanis, kurtas, jackets and accessories such as jutti, safa, mala, and women’s ethnic and celebration wear items such as lehengas, sarees, stitched suits, gowns and kurtis.

Awards, accreditations or recognitions

  • 2004-2008: Recognised as “Best Men's Ethnic Wear Brand” by Central Icons.
    2008-2010: Recognised as “Iconic Men’s Ethnic Brand” by Central Icons.
  • 2014: ET Bengal Corporate Award for the “Fastest Growing Company-Maximum Turnover of Rs 300 crore” granted by Association of Corporate Advisers & Executives, Kolkata and the Economic Times.
  • 2014: Award for Retail Excellence for being the “Pioneer in Ethnic Retail Business” granted by ABP News.
  • 2015: Images Award for “Excellence in Supply Chain Management & Fulfillment” granted by Images Retail Tech Awards.
  • 2015: Recognized as the “National Retailer of the Year” at the 4th Annual Indian Retail & Indian eRetail Awards.
  • 2017: Images Award for “Most Admired Fashion Brand of the year: Men’s Indian Wear” granted by Images Fashion Awards.
  • 2018: Images Award for “Most Admired Retailer of the Year Marketing & Promotions Campaign” granted by Images Retail Awards.
  • 2019: Indian Retail Award for “Ethnic Fashion Retailer of the Year” granted by Shop X.
  • 2019: Dare to Dream Award for “Company of the Year-Retail” granted by Zee Business.
  • 2019: Times Business Award for the “Best Men's Ethnic Wear Brand (East)” granted by the Times Group.
  • 2019: Images Award for “Most Admired Fashion Brand of the year: Men’s Indianwear” granted by Images Fashion Awards.
  • 2020: Images Excellence Award for “Men’s Indianwear” granted by Images Fashion Awards.
  • 2020: Recognized as India’s Retail Champion (Winner) in Specialty Retail by Bhartiya City Centre.
    2020: Global Award for Retail Excellence for “Retail Marketing Campaign of the Year #TaiyaarHokarAaiye” granted by ET Now.
  • 2020: ET Bengal Corporate Award for “Excellence in Business Performance-Turnover between INR 300 crore and 1,000 crore” granted by Association of Corporate Advisers & Executives, Kolkata and the Economic Times.
  • 2021: Retail Award for the “Most Admired Retailer of the year-Marketing and Advertising campaign” granted by Mapic India.
  • 2021: Employer Branding Award for “Best Employer Branding Award” hosted by World HRD Congress and Stars Group.

Major events and key milestones

  • 2010: Inauguration of 100th EBO, in Santa Cruz, Mumbai, Maharashtra.
  • 2011: Launch of first international store, in Dubai, United Arab Emirates.
  • 2012: Surpassed the 200 EBO mark.
  • 2012: Crossed Rs 1,000 million in EBO revenue.
  • 2013: Inauguration of 300th EBO, in Quest Mall, Kolkata, West Bengal.
  • 2013: Presence of EBOs in 100 cities.
  • 2013: Collaboration with Kolkata Knight Riders, Delhi Daredevils, and Sunrisers Hyderabad as their ‘Official Indian Wear Partner’ at the Indian Premier League.
    2014: Inauguration of our 333rd EBO, in Lower Parel, Mumbai, Maharashtra.
  • 2014: Collaboration with Hero Indian Super League as Associate Sponsor.
  • 2014: Inauguration of our 400th EBO, in Hazrathanj, Lucknow, Uttar Pradesh.
  • 2014: Launch of women’s celebration wear label ‘Mohey’.
  • 2016: Launch of first store in USA, in New Jersey.
  • 2016: Crossed Rs 5,000 million in EBO revenue.
  • 2017: Strategic acquisition of brand ‘Mebaz’ from New Meena Bazaar International Private Limited.
  • 2017: Investment from Kedaara Capital AIF -and Rhine Holdings Limited.
  • 2018: Collaboration with Rajasthan Royals and Kings XI Punjab as their official sponsors at the Indian Premier League.
  • 2018: Refreshed launch of value celebration wear label ‘Manthan’.
  • 2019: Inauguration of 600th store, in Mysore, Karnataka.
  • 2019: Launch of premium men’s wear brand ‘Twamev’.
  • 2019: Crossed Rs 10,000 million in EBO revenue.
  • 2019: Crossed 1 million sq. ft. of EBO presence.
  • 2020: Launch of the “Manyavar” mobile application.
  • 2021: Partnership with Femina Miss India 2021 as Celebration Wear Partner.
  • 2021: Collaboration with ICC Men’s T20 World Cup 2021 as the ‘ICC Official Partner’.
Parent OrganisationVedant Fashions Ltd.Managing DirectorRavi Modi
Founded2002NSE SymbolMANYAVAR


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