# Textiles - Readymade Apparel — company-by-company sector analysis > Textiles - Readymade Apparel: Trent Ltd owns the largest revenue base; V2 Retail Ltd has the fastest current growth. Sector Alpha — machine-written from the numbers. Data as of 2026-08-18. Not investment advice. ## Bottom line Textiles - Readymade Apparel has underperformed NIFTY 500 by 2.8% over 52 weeks and 2.3% over 13 weeks. 10 of 26 covered companies beat NIFTY on Mansfield relative strength, while 11 of 25 beat the sector itself. Trent Ltd leads with revenue of ₹20,946 crore, based on 25 of 26 comparable companies through Jun 2026. ## Sector relative strength Textiles - Readymade Apparel has underperformed NIFTY 500 by 2.8% over the last 52 weeks. Over 13 weeks the gap is a lead of 2.3%. 10 of 26 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Iris Clothings Ltd is the strongest against the sector itself at +58.8%. 13-week sector return versus NIFTY 500: 2.3% 52-week sector return versus NIFTY 500: -2.8% Stocks leading NIFTY: 10/26 Stocks leading sector: 11/25 Central tension: The central tension: the companies with the most scale are not necessarily the companies creating the most change. Companies: 26 Combined market value: ₹3.1 L Cr ## 4-Factor Sector Score An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment. 1. Kewal Kiran Clothing Ltd (KKCL): 69/100 — Favorable setup; evidence 100% - Growth & earnings 18.9/35 | Capital efficiency 18.9/25 | Valuation 16.6/20 | Relative strength 15.0/20 - Price stage: BREAKING OUT — Ahead of the benchmark five weeks or more running, with its lead holding or widening. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 4 of the last 12 weeks - Exact sum: 18.9 + 18.9 + 16.6 + 15 = 69.4 - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. 2. SBC Exports Ltd (SBC): 67/100 — Favorable setup; evidence 87% - Growth & earnings 32.4/35 | Capital efficiency 12.9/25 | Valuation 7.1/20 | Relative strength 14.1/20 - Price stage: LEADER — Ahead of the benchmark 13 weeks or more running, and ahead over the past year. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 12 of the last 12 weeks - Exact sum: 32.4 + 12.9 + 7.1 + 14.1 = 66.5 - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. 3. Iris Clothings Ltd (IRISDOREME): 65/100 — Mixed-positive evidence; evidence 87% - Growth & earnings 22.5/35 | Capital efficiency 15.2/25 | Valuation 7.1/20 | Relative strength 20.0/20 - Price stage: LEADER — Ahead of the benchmark 13 weeks or more running, and ahead over the past year. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 12 of the last 12 weeks - Exact sum: 22.5 + 15.2 + 7.1 + 20 = 64.8 - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. 4. Pearl Global Industries Ltd (PGIL): 64/100 — Mixed-positive evidence; evidence 82% - Growth & earnings 20.5/35 | Capital efficiency 17.1/25 | Valuation 7.1/20 | Relative strength 19.3/20 - Price stage: LEADER — Ahead of the benchmark 13 weeks or more running, and ahead over the past year. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 10 of the last 12 weeks - Exact sum: 20.5 + 17.1 + 7.1 + 19.3 = 64 - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. 5. Cantabil Retail India Ltd (CANTABIL): 60/100 — Mixed-positive evidence; evidence 87% - Growth & earnings 22.2/35 | Capital efficiency 18.1/25 | Valuation 12.8/20 | Relative strength 6.8/20 - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 2 of the last 12 weeks - Exact sum: 22.2 + 18.1 + 12.8 + 6.8 = 59.9 - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. 6. V-Mart Retail Ltd (VMART): 59/100 — Mixed-positive evidence; evidence 93% - Growth & earnings 25.4/35 | Capital efficiency 7.4/25 | Valuation 7.8/20 | Relative strength 17.9/20 - Price stage: LEADER — Ahead of the benchmark 13 weeks or more running, and ahead over the past year. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 12 of the last 12 weeks - Exact sum: 25.4 + 7.4 + 7.8 + 17.9 = 58.5 - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. 7. V2 Retail Ltd (V2RETAIL): 58/100 — Mixed-positive evidence; evidence 83% - Growth & earnings 27.4/35 | Capital efficiency 12.4/25 | Valuation 9.3/20 | Relative strength 8.7/20 - Price stage: FADING — Was leading by 5% or more four weeks ago and is not now. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 8 of the last 12 weeks - Exact sum: 27.4 + 12.4 + 9.3 + 8.7 = 57.8 - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. 8. Trent Ltd (TRENT): 56/100 — Mixed-positive evidence; evidence 93% - Growth & earnings 18.3/35 | Capital efficiency 19.7/25 | Valuation 4.5/20 | Relative strength 13.9/20 - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 8 of the last 12 weeks - Exact sum: 18.3 + 19.7 + 4.5 + 13.9 = 56.4 - Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression. 9. Arvind Fashions Ltd (ARVINDFASN): 53/100 — Mixed-positive evidence; evidence 93% - Growth & earnings 22.9/35 | Capital efficiency 15.4/25 | Valuation 9.6/20 | Relative strength 5.5/20 - Price stage: BASING — Behind the benchmark by 5% or more over the past year and still not ahead, but no longer falling further behind. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 3 of the last 12 weeks - Exact sum: 22.9 + 15.4 + 9.6 + 5.5 = 53.4 - Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -7.3% and the one-year return is -12.6%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth. 10. Aditya Birla Lifestyle Brands Ltd (ABLBL): 53/100 — Mixed-positive evidence; evidence 78% - Growth & earnings 20.4/35 | Capital efficiency 12.9/25 | Valuation 11.2/20 | Relative strength 8.0/20 - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of 10 weeks with a reading, within the last 12 - Exact sum: 20.4 + 12.9 + 11.2 + 8 = 52.5 - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. 11. Vishal Mega Mart Ltd (VMM): 51/100 — Mixed-positive evidence; evidence 87% - Growth & earnings 23.5/35 | Capital efficiency 12.4/25 | Valuation 4.5/20 | Relative strength 10.7/20 - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 2 of 10 weeks with a reading, within the last 12 - Exact sum: 23.5 + 12.4 + 4.5 + 10.7 = 51.1 - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. 12. S P Apparels Ltd (SPAL): 51/100 — Mixed-positive evidence; evidence 100% - Growth & earnings 16.9/35 | Capital efficiency 12.9/25 | Valuation 3.9/20 | Relative strength 17.2/20 - Price stage: LEADER — Ahead of the benchmark 13 weeks or more running, and ahead over the past year. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 12 of the last 12 weeks - Exact sum: 16.9 + 12.9 + 3.9 + 17.2 = 50.9 - Decision use: Price leads the evidence: RS versus the benchmark is 16.6%, but earnings trajectory is weak. Wait for revenue and profit confirmation. 13. Bella Casa Fashion & Retail Ltd (BELLACASA): 51/100 — Mixed-positive evidence; evidence 61% - Growth & earnings 21.9/35 | Capital efficiency 13.4/25 | Valuation 11.4/20 | Relative strength 4.1/20 - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks, ending 2026-03-29 (no longer priced) - Exact sum: 21.9 + 13.4 + 11.4 + 4.1 = 50.8 - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. 14. Thomas Scott India Ltd (THOMASCOTT): 51/100 — Thin evidence · provisional; evidence 54% - Growth & earnings 17.7/35 | Capital efficiency 15.4/25 | Valuation 10.8/20 | Relative strength 6.9/20 - Led NIFTY 500 by 5%+ over the prior 13 weeks in 1 of the last 12 weeks, ending 2026-03-29 (no longer priced) - Exact sum: 17.7 + 15.4 + 10.8 + 6.9 = 50.8 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 15. Monte Carlo Fashions Ltd (MONTECARLO): 50/100 — Mixed-negative evidence; evidence 73% - Growth & earnings 16.7/35 | Capital efficiency 9.0/25 | Valuation 14.5/20 | Relative strength 9.3/20 - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of 10 weeks with a reading, within the last 12 - Exact sum: 16.7 + 9 + 14.5 + 9.3 = 49.5 - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. 16. Baazar Style Retail Ltd (STYLEBAAZA): 48/100 — Mixed-negative evidence; evidence 83% - Growth & earnings 22.9/35 | Capital efficiency 4.1/25 | Valuation 8.5/20 | Relative strength 12.1/20 - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 4 of the last 12 weeks - Exact sum: 22.9 + 4.1 + 8.5 + 12.1 = 47.6 - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. 17. Sai Silks (Kalamandir) Ltd (KALAMANDIR): 48/100 — Mixed-negative evidence; evidence 81% - Growth & earnings 12.8/35 | Capital efficiency 15.5/25 | Valuation 14.7/20 | Relative strength 4.5/20 - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of 10 weeks with a reading, within the last 12 - Exact sum: 12.8 + 15.5 + 14.7 + 4.5 = 47.5 - Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. 18. Vedant Fashions Ltd (MANYAVAR): 44/100 — Mixed-negative evidence; evidence 94% - Growth & earnings 10.0/35 | Capital efficiency 19.4/25 | Valuation 8.2/20 | Relative strength 6.3/20 - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 5 of 10 weeks with a reading, within the last 12 - Exact sum: 10 + 19.4 + 8.2 + 6.3 = 43.9 - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. 19. Raymond Lifestyle Ltd (RAYMONDLSL): 41/100 — Mixed-negative evidence; evidence 78% - Growth & earnings 17.9/35 | Capital efficiency 2.5/25 | Valuation 14.8/20 | Relative strength 5.4/20 - Price stage: BASING — Behind the benchmark by 5% or more over the past year and still not ahead, but no longer falling further behind. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of 10 weeks with a reading, within the last 12 - Exact sum: 17.9 + 2.5 + 14.8 + 5.4 = 40.6 - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. 20. Credo Brands Marketing Ltd (MUFTI): 40/100 — Mixed-negative evidence; evidence 87% - Growth & earnings 5.3/35 | Capital efficiency 14.6/25 | Valuation 12.5/20 | Relative strength 7.4/20 - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 5 of the last 12 weeks - Exact sum: 5.3 + 14.6 + 12.5 + 7.4 = 39.8 - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. 21. Lux Industries Ltd (LUXIND): 36/100 — Mixed-negative evidence; evidence 82% - Growth & earnings 12.1/35 | Capital efficiency 7.9/25 | Valuation 8.8/20 | Relative strength 6.8/20 - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 6 of the last 12 weeks - Exact sum: 12.1 + 7.9 + 8.8 + 6.8 = 35.6 - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. 22. Go Fashion (India) Ltd (GOCOLORS): 32/100 — Adverse evidence; evidence 81% - Growth & earnings 5.7/35 | Capital efficiency 10.6/25 | Valuation 12.4/20 | Relative strength 3.3/20 - Price stage: BREAKING OUT — Ahead of the benchmark five weeks or more running, with its lead holding or widening. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 9 of 10 weeks with a reading, within the last 12 - Exact sum: 5.7 + 10.6 + 12.4 + 3.3 = 32 - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. 23. Aditya Birla Fashion & Retail Ltd (ABFRL): 29/100 — Adverse evidence; evidence 64% - Growth & earnings 12.8/35 | Capital efficiency 3.1/25 | Valuation 10.0/20 | Relative strength 2.6/20 - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks - Exact sum: 12.8 + 3.1 + 10 + 2.6 = 28.5 - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. 24. Gokaldas Exports Ltd (GOKEX): 27/100 — Adverse evidence; evidence 94% - Growth & earnings 9.2/35 | Capital efficiency 6.8/25 | Valuation 2.1/20 | Relative strength 9.2/20 - Price stage: BREAKING OUT — Ahead of the benchmark five weeks or more running, with its lead holding or widening. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 10 of 10 weeks with a reading, within the last 12 - Exact sum: 9.2 + 6.8 + 2.1 + 9.2 = 27.3 - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. 25. Kitex Garments Ltd (KITEX): 18/100 — Adverse evidence; evidence 79% - Growth & earnings 1.9/35 | Capital efficiency 4.7/25 | Valuation 9.3/20 | Relative strength 2.3/20 - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks - Exact sum: 1.9 + 4.7 + 9.3 + 2.3 = 18.2 - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. 26. Karnika Industries Ltd (KARNIKA): 61/100 — Thin evidence · provisional; evidence 48% - Growth & earnings 20.4/35 | Capital efficiency 21.4/25 | Valuation 10.5/20 | Relative strength 8.2/20 - Price stage: BASING — Behind the benchmark by 5% or more over the past year and still not ahead, but no longer falling further behind. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 5 of 10 weeks with a reading, within the last 12 - Exact sum: 20.4 + 21.4 + 10.5 + 8.2 = 60.5 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. ## Market action SBC Exports Ltd has the strongest one-year price move in Textiles - Readymade Apparel at +118.5%. Iris Clothings Ltd leads on Mansfield relative strength against NIFTY at +58.2%. 10 of 26 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-08-14. ### Strongest one-year price performers 1. SBC Exports Ltd (SBC): 119% 2. Pearl Global Industries Ltd (PGIL): 86% 3. Iris Clothings Ltd (IRISDOREME): 76% 4. S P Apparels Ltd (SPAL): 26% 5. V2 Retail Ltd (V2RETAIL): 25% ### Strongest relative strength versus NIFTY 500 1. Iris Clothings Ltd (IRISDOREME): 58% 2. Pearl Global Industries Ltd (PGIL): 51% 3. SBC Exports Ltd (SBC): 22% 4. S P Apparels Ltd (SPAL): 17% 5. V-Mart Retail Ltd (VMART): 13% ## Textiles - Readymade Apparel — the story behind the numbers This is the written read behind the Textiles - Readymade Apparel figures above — what is actually happening in the sector, in words, with the evidence each claim rests on. It is dated 28 Jul 2026. 5 themes are live here, 1 of them rated high severity. The Textiles - Readymade Apparel sector shows mixed signals based on the single constituent analyzed. SBC Exports reported consolidated Q4 FY26 revenue of ₹141.60 crore, up 47.04 percent year-on-year. This marks the highest quarterly sales in company history. However, EBITDA margin contracted to 4.17 percent despite absolute growth. How old this read is: This read comes from our Textiles - Readymade Apparel sector brief dated 28 Jul 2026, so the words here and the numbers above them cover the same few weeks. ### Live themes, worst first - HIGH | Preferential issue placed on hold due to procedural and regulatory complexities. | Company reviewing matter and will update proposed allottees in next Board meeting; reserves right to withdraw, modify, defer issue. | quoted: "Company transitioning from unsecured loans to preferential equity for capital restructuring" | named for SBC - MEDIUM | Margin compression suggests rising input cost pressures despite volume growth. | quoted: "EBITDA margin contracted to 4.17% despite absolute growth, indicating operational cost pressures." | named for SBC - MEDIUM | Export exposure with repeat orders from Dubai buyer; currency fluctuations could impact realized margins. | named for SBC - MEDIUM | Two court cases on record per MCA filings, with compliance score of 46/100. | named for SBC - LOW | 5 director exits in 3 years indicates management churn. | named for SBC Sources: our Textiles - Readymade Apparel sector brief, 28 Jul 2026 · company earnings-call transcripts. ## Revenue Scale & Growth Durability What the numbers say: Trent Ltd is the scale leader at ₹20,946 crore, 55.2% ahead of Vishal Mega Mart Ltd. V2 Retail Ltd's growth is 63.3% from a ₹3,432 crore base, with 20 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale. Investor read: Trent Ltd is the scale benchmark; V2 Retail Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns. This conclusion weakens if: Trent Ltd's growth falls below V2 Retail Ltd's for two consecutive comparable reports while operating margin also compresses. Evidence: Trent Ltd · ₹20,946 crore | 55.2% versus #2 · Vishal Mega Mart Ltd | 8/8 recent comparable periods | 25/26 companies · 405 observations Definition: Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress. ### Revenue — largest 1. Trent Ltd (TRENT): ₹20.9K Cr 2. Vishal Mega Mart Ltd (VMM): ₹13.5K Cr 3. Aditya Birla Lifestyle Brands Ltd (ABLBL): ₹8.6K Cr 4. Aditya Birla Fashion & Retail Ltd (ABFRL): ₹8.4K Cr 5. Raymond Lifestyle Ltd (RAYMONDLSL): ₹7.0K Cr ### Revenue growth — fastest growers 1. V2 Retail Ltd (V2RETAIL): 63% 2. Thomas Scott India Ltd (THOMASCOTT): 62% — older report 3. SBC Exports Ltd (SBC): 47% 4. Baazar Style Retail Ltd (STYLEBAAZA): 35% 5. Iris Clothings Ltd (IRISDOREME): 32% ### 20-quarter Revenue history - TRENT: Sep 2021 ₹1.2K Cr | Dec 2021 ₹1.5K Cr | Mar 2022 ₹1.3K Cr | Jun 2022 ₹1.8K Cr | Sep 2022 ₹2.0K Cr | Dec 2022 ₹2.3K Cr | Mar 2023 ₹2.2K Cr | Jun 2023 ₹2.6K Cr | Sep 2023 ₹3.0K Cr | Dec 2023 ₹3.5K Cr | Mar 2024 ₹3.3K Cr | Jun 2024 ₹4.1K Cr | Sep 2024 ₹4.2K Cr | Dec 2024 ₹4.7K Cr | Mar 2025 ₹4.2K Cr | Jun 2025 ₹4.9K Cr | Sep 2025 ₹4.8K Cr | Dec 2025 ₹5.3K Cr | Mar 2026 ₹5.0K Cr | Jun 2026 ₹5.8K Cr - VMM: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 ₹2.1K Cr | Sep 2023 ₹2.1K Cr | Dec 2023 ₹2.6K Cr | Mar 2024 ₹2.1K Cr | Jun 2024 ₹2.6K Cr | Sep 2024 ₹2.4K Cr | Dec 2024 ₹3.1K Cr | Mar 2025 ₹2.5K Cr | Jun 2025 ₹3.1K Cr | Sep 2025 ₹3.0K Cr | Dec 2025 ₹3.7K Cr | Mar 2026 ₹3.1K Cr | Jun 2026 ₹3.7K Cr - MANYAVAR: Sep 2021 ₹200 Cr | Dec 2021 ₹385 Cr | Mar 2022 ₹296 Cr | Jun 2022 ₹325 Cr | Sep 2022 ₹247 Cr | Dec 2022 ₹441 Cr | Mar 2023 ₹342 Cr | Jun 2023 ₹311 Cr | Sep 2023 ₹218 Cr | Dec 2023 ₹474 Cr | Mar 2024 ₹363 Cr | Jun 2024 ₹240 Cr | Sep 2024 ₹268 Cr | Dec 2024 ₹511 Cr | Mar 2025 ₹367 Cr | Jun 2025 ₹281 Cr | Sep 2025 ₹263 Cr | Dec 2025 ₹492 Cr | Mar 2026 ₹399 Cr | Jun 2026 ₹301 Cr - PGIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹717 Cr | Mar 2023 ₹730 Cr | Jun 2023 ₹894 Cr | Sep 2023 ₹961 Cr | Dec 2023 ₹704 Cr | Mar 2024 ₹877 Cr | Jun 2024 ₹1.1K Cr | Sep 2024 ₹1.2K Cr | Dec 2024 ₹1.0K Cr | Mar 2025 ₹1.2K Cr | Jun 2025 ₹1.2K Cr | Sep 2025 ₹1.3K Cr | Dec 2025 ₹1.2K Cr | Mar 2026 ₹1.3K Cr | Jun 2026 ₹1.5K Cr - ABLBL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 ₹1.8K Cr | Sep 2024 ₹2.0K Cr | Dec 2024 ₹2.1K Cr | Mar 2025 ₹1.9K Cr | Jun 2025 ₹1.8K Cr | Sep 2025 ₹2.0K Cr | Dec 2025 ₹2.3K Cr | Mar 2026 ₹2.2K Cr | Jun 2026 ₹2.0K Cr - V2RETAIL: Sep 2021 ₹150 Cr | Dec 2021 ₹239 Cr | Mar 2022 ₹158 Cr | Jun 2022 ₹211 Cr | Sep 2022 ₹195 Cr | Dec 2022 ₹240 Cr | Mar 2023 ₹193 Cr | Jun 2023 ₹264 Cr | Sep 2023 ₹231 Cr | Dec 2023 ₹374 Cr | Mar 2024 ₹296 Cr | Jun 2024 ₹415 Cr | Sep 2024 ₹380 Cr | Dec 2024 ₹591 Cr | Mar 2025 ₹499 Cr | Jun 2025 ₹632 Cr | Sep 2025 ₹709 Cr | Dec 2025 ₹929 Cr | Mar 2026 ₹797 Cr | Jun 2026 ₹997 Cr - ABFRL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹3.6K Cr | Mar 2023 ₹2.9K Cr | Jun 2023 ₹3.2K Cr | Sep 2023 ₹3.2K Cr | Dec 2023 ₹4.2K Cr | Mar 2024 ₹1.6K Cr | Jun 2024 ₹1.7K Cr | Sep 2024 ₹1.8K Cr | Dec 2024 ₹2.2K Cr | Mar 2025 ₹1.7K Cr | Jun 2025 ₹1.8K Cr | Sep 2025 ₹2.0K Cr | Dec 2025 ₹2.4K Cr | Mar 2026 ₹2.0K Cr | Jun 2026 ₹2.0K Cr - VMART: Sep 2021 ₹338 Cr | Dec 2021 ₹692 Cr | Mar 2022 ₹459 Cr | Jun 2022 ₹588 Cr | Sep 2022 ₹506 Cr | Dec 2022 ₹777 Cr | Mar 2023 ₹594 Cr | Jun 2023 ₹679 Cr | Sep 2023 ₹549 Cr | Dec 2023 ₹889 Cr | Mar 2024 ₹669 Cr | Jun 2024 ₹786 Cr | Sep 2024 ₹661 Cr | Dec 2024 ₹1.0K Cr | Mar 2025 ₹780 Cr | Jun 2025 ₹885 Cr | Sep 2025 ₹807 Cr | Dec 2025 ₹1.1K Cr | Mar 2026 ₹971 Cr | Jun 2026 ₹1.1K Cr - ARVINDFASN: Sep 2021 ₹812 Cr | Dec 2021 ₹1.0K Cr | Mar 2022 ₹917 Cr | Jun 2022 ₹920 Cr | Sep 2022 ₹1.2K Cr | Dec 2022 ₹1.1K Cr | Mar 2023 ₹1.1K Cr | Jun 2023 ₹867 Cr | Sep 2023 ₹1.2K Cr | Dec 2023 ₹1.1K Cr | Mar 2024 ₹1.1K Cr | Jun 2024 ₹955 Cr | Sep 2024 ₹1.3K Cr | Dec 2024 ₹1.2K Cr | Mar 2025 ₹1.2K Cr | Jun 2025 ₹1.1K Cr | Sep 2025 ₹1.4K Cr | Dec 2025 ₹1.4K Cr | Mar 2026 ₹1.4K Cr | Jun 2026 ₹1.3K Cr - GOKEX: Sep 2021 ₹444 Cr | Dec 2021 ₹521 Cr | Mar 2022 ₹585 Cr | Jun 2022 ₹611 Cr | Sep 2022 ₹570 Cr | Dec 2022 ₹519 Cr | Mar 2023 ₹523 Cr | Jun 2023 ₹515 Cr | Sep 2023 ₹500 Cr | Dec 2023 ₹552 Cr | Mar 2024 ₹812 Cr | Jun 2024 ₹932 Cr | Sep 2024 ₹929 Cr | Dec 2024 ₹988 Cr | Mar 2025 ₹1.0K Cr | Jun 2025 ₹956 Cr | Sep 2025 ₹984 Cr | Dec 2025 ₹979 Cr | Mar 2026 ₹1.1K Cr | Jun 2026 ₹1.2K Cr - RAYMONDLSL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 ₹1.6K Cr | Sep 2023 ₹1.8K Cr | Dec 2023 ₹1.7K Cr | Mar 2024 ₹1.7K Cr | Jun 2024 ₹1.2K Cr | Sep 2024 ₹1.7K Cr | Dec 2024 ₹1.8K Cr | Mar 2025 ₹1.5K Cr | Jun 2025 ₹1.4K Cr | Sep 2025 ₹1.8K Cr | Dec 2025 ₹1.8K Cr | Mar 2026 ₹1.8K Cr | Jun 2026 ₹1.5K Cr - LUXIND: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹459 Cr | Mar 2023 ₹717 Cr | Jun 2023 ₹521 Cr | Sep 2023 ₹639 Cr | Dec 2023 ₹451 Cr | Mar 2024 ₹708 Cr | Jun 2024 ₹535 Cr | Sep 2024 ₹677 Cr | Dec 2024 ₹553 Cr | Mar 2025 ₹818 Cr | Jun 2025 ₹604 Cr | Sep 2025 ₹779 Cr | Dec 2025 ₹673 Cr | Mar 2026 ₹873 Cr | Jun 2026 ₹609 Cr - KKCL: Sep 2021 ₹175 Cr | Dec 2021 ₹171 Cr | Mar 2022 ₹170 Cr | Jun 2022 ₹155 Cr | Sep 2022 ₹226 Cr | Dec 2022 ₹199 Cr | Mar 2023 ₹199 Cr | Jun 2023 ₹178 Cr | Sep 2023 ₹262 Cr | Dec 2023 ₹200 Cr | Mar 2024 ₹219 Cr | Jun 2024 ₹151 Cr | Sep 2024 ₹308 Cr | Dec 2024 ₹255 Cr | Mar 2025 ₹288 Cr | Jun 2025 ₹234 Cr | Sep 2025 ₹354 Cr | Dec 2025 ₹301 Cr | Mar 2026 ₹324 Cr | Jun 2026 ₹279 Cr - STYLEBAAZA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 ₹160 Cr | Jun 2023 ₹228 Cr | Sep 2023 ₹188 Cr | Dec 2023 ₹333 Cr | Mar 2024 ₹224 Cr | Jun 2024 ₹276 Cr | Sep 2024 ₹311 Cr | Dec 2024 ₹412 Cr | Mar 2025 ₹345 Cr | Jun 2025 ₹378 Cr | Sep 2025 ₹532 Cr | Dec 2025 ₹466 Cr | Mar 2026 ₹466 Cr | Jun 2026 ₹486 Cr - KITEX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹68 Cr | Mar 2023 ₹98 Cr | Jun 2023 ₹146 Cr | Sep 2023 ₹134 Cr | Dec 2023 ₹164 Cr | Mar 2024 ₹173 Cr | Jun 2024 ₹190 Cr | Sep 2024 ₹216 Cr | Dec 2024 ₹276 Cr | Mar 2025 ₹300 Cr | Jun 2025 ₹197 Cr | Sep 2025 ₹122 Cr | Dec 2025 ₹182 Cr | Mar 2026 ₹166 Cr | Jun 2026 ₹158 Cr - SPAL: Sep 2021 ₹222 Cr | Dec 2021 ₹250 Cr | Mar 2022 ₹254 Cr | Jun 2022 ₹246 Cr | Sep 2022 ₹269 Cr | Dec 2022 ₹251 Cr | Mar 2023 ₹275 Cr | Jun 2023 ₹248 Cr | Sep 2023 ₹292 Cr | Dec 2023 ₹252 Cr | Mar 2024 ₹295 Cr | Jun 2024 ₹245 Cr | Sep 2024 ₹391 Cr | Dec 2024 ₹359 Cr | Mar 2025 ₹399 Cr | Jun 2025 ₹403 Cr | Sep 2025 ₹427 Cr | Dec 2025 ₹383 Cr | Mar 2026 ₹365 Cr | Jun 2026 ₹401 Cr - CANTABIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹162 Cr | Mar 2023 ₹174 Cr | Jun 2023 ₹112 Cr | Sep 2023 ₹135 Cr | Dec 2023 ₹176 Cr | Mar 2024 ₹194 Cr | Jun 2024 ₹128 Cr | Sep 2024 ₹151 Cr | Dec 2024 ₹223 Cr | Mar 2025 ₹220 Cr | Jun 2025 ₹159 Cr | Sep 2025 ₹176 Cr | Dec 2025 ₹264 Cr | Mar 2026 ₹253 Cr | Jun 2026 ₹179 Cr - SBC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹50 Cr | Mar 2023 ₹68 Cr | Jun 2023 ₹53 Cr | Sep 2023 ₹35 Cr | Dec 2023 ₹52 Cr | Mar 2024 ₹69 Cr | Jun 2024 ₹66 Cr | Sep 2024 ₹66 Cr | Dec 2024 ₹72 Cr | Mar 2025 ₹96 Cr | Jun 2025 ₹72 Cr | Sep 2025 ₹85 Cr | Dec 2025 ₹104 Cr | Mar 2026 ₹142 Cr | Jun 2026 ₹121 Cr - GOCOLORS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹176 Cr | Mar 2023 ₹158 Cr | Jun 2023 ₹190 Cr | Sep 2023 ₹189 Cr | Dec 2023 ₹202 Cr | Mar 2024 ₹182 Cr | Jun 2024 ₹220 Cr | Sep 2024 ₹209 Cr | Dec 2024 ₹215 Cr | Mar 2025 ₹205 Cr | Jun 2025 ₹223 Cr | Sep 2025 ₹224 Cr | Dec 2025 ₹195 Cr | Mar 2026 ₹196 Cr | Jun 2026 ₹223 Cr - KALAMANDIR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹379 Cr | Mar 2023 ₹324 Cr | Jun 2023 ₹305 Cr | Sep 2023 ₹327 Cr | Dec 2023 ₹382 Cr | Mar 2024 ₹360 Cr | Jun 2024 ₹267 Cr | Sep 2024 ₹347 Cr | Dec 2024 ₹449 Cr | Mar 2025 ₹399 Cr | Jun 2025 ₹379 Cr | Sep 2025 ₹444 Cr | Dec 2025 ₹411 Cr | Mar 2026 ₹419 Cr | Jun 2026 ₹375 Cr - IRISDOREME: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹20 Cr | Mar 2023 ₹38 Cr | Jun 2023 ₹24 Cr | Sep 2023 ₹32 Cr | Dec 2023 ₹23 Cr | Mar 2024 ₹42 Cr | Jun 2024 ₹31 Cr | Sep 2024 ₹41 Cr | Dec 2024 ₹33 Cr | Mar 2025 ₹40 Cr | Jun 2025 ₹37 Cr | Sep 2025 ₹44 Cr | Dec 2025 ₹49 Cr | Mar 2026 ₹60 Cr | Jun 2026 ₹47 Cr - MONTECARLO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹520 Cr | Mar 2023 ₹237 Cr | Jun 2023 ₹139 Cr | Sep 2023 ₹212 Cr | Dec 2023 ₹504 Cr | Mar 2024 ₹207 Cr | Jun 2024 ₹126 Cr | Sep 2024 ₹220 Cr | Dec 2024 ₹549 Cr | Mar 2025 ₹206 Cr | Jun 2025 ₹139 Cr | Sep 2025 ₹249 Cr | Dec 2025 ₹608 Cr | Mar 2026 ₹280 Cr | Jun 2026 ₹149 Cr - KARNIKA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 ₹74 Cr | Mar 2026 ₹72 Cr | Jun 2026 ₹74 Cr - MUFTI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 ₹143 Cr | Dec 2022 ₹130 Cr | Mar 2023 ₹133 Cr | Jun 2023 ₹118 Cr | Sep 2023 ₹166 Cr | Dec 2023 ₹150 Cr | Mar 2024 ₹133 Cr | Jun 2024 ₹124 Cr | Sep 2024 ₹186 Cr | Dec 2024 ₹156 Cr | Mar 2025 ₹153 Cr | Jun 2025 ₹120 Cr | Sep 2025 ₹164 Cr | Dec 2025 ₹146 Cr | Mar 2026 ₹162 Cr | Jun 2026 ₹125 Cr - THOMASCOTT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 ₹15 Cr | Dec 2022 ₹11 Cr | Mar 2023 ₹24 Cr | Jun 2023 ₹18 Cr | Sep 2023 ₹23 Cr | Dec 2023 ₹22 Cr | Mar 2024 ₹26 Cr | Jun 2024 ₹27 Cr | Sep 2024 ₹41 Cr | Dec 2024 ₹45 Cr | Mar 2025 ₹48 Cr | Jun 2025 ₹54 Cr | Sep 2025 ₹57 Cr | Dec 2025 ₹66 Cr | Mar 2026 — | Jun 2026 — - BELLACASA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹51 Cr | Mar 2023 ₹41 Cr | Jun 2023 ₹47 Cr | Sep 2023 ₹64 Cr | Dec 2023 ₹58 Cr | Mar 2024 ₹61 Cr | Jun 2024 ₹74 Cr | Sep 2024 ₹107 Cr | Dec 2024 ₹81 Cr | Mar 2025 ₹87 Cr | Jun 2025 ₹90 Cr | Sep 2025 ₹126 Cr | Dec 2025 ₹90 Cr | Mar 2026 — | Jun 2026 — ### 20-quarter Revenue growth history - TRENT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 266% | Sep 2022 66% | Dec 2022 54% | Mar 2023 64% | Jun 2023 46% | Sep 2023 53% | Dec 2023 51% | Mar 2024 51% | Jun 2024 56% | Sep 2024 39% | Dec 2024 34% | Mar 2025 28% | Jun 2025 19% | Sep 2025 16% | Dec 2025 15% | Mar 2026 19% | Jun 2026 18% - VMM: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 23% | Sep 2024 15% | Dec 2024 20% | Mar 2025 23% | Jun 2025 21% | Sep 2025 22% | Dec 2025 17% | Mar 2026 22% | Jun 2026 19% - MANYAVAR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 103% | Sep 2022 24% | Dec 2022 15% | Mar 2023 16% | Jun 2023 -4.3% | Sep 2023 -12% | Dec 2023 7.5% | Mar 2024 6.1% | Jun 2024 -23% | Sep 2024 23% | Dec 2024 7.8% | Mar 2025 1.1% | Jun 2025 17% | Sep 2025 -1.9% | Dec 2025 -3.7% | Mar 2026 8.7% | Jun 2026 7.1% - PGIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 -1.8% | Mar 2024 20% | Jun 2024 18% | Sep 2024 25% | Dec 2024 45% | Mar 2025 40% | Jun 2025 17% | Sep 2025 9.2% | Dec 2025 14% | Mar 2026 6.9% | Jun 2026 24% - ABLBL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 3.2% | Sep 2025 3.7% | Dec 2025 9.6% | Mar 2026 12% | Jun 2026 11% - V2RETAIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 154% | Sep 2022 30% | Dec 2022 0.4% | Mar 2023 22% | Jun 2023 25% | Sep 2023 18% | Dec 2023 56% | Mar 2024 53% | Jun 2024 57% | Sep 2024 65% | Dec 2024 58% | Mar 2025 69% | Jun 2025 52% | Sep 2025 87% | Dec 2025 57% | Mar 2026 60% | Jun 2026 58% - ABFRL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 16% | Mar 2024 -45% | Jun 2024 -48% | Sep 2024 -45% | Dec 2024 -47% | Mar 2025 9.1% | Jun 2025 9.4% | Sep 2025 13% | Dec 2025 7.9% | Mar 2026 16% | Jun 2026 11% - VMART: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 232% | Sep 2022 50% | Dec 2022 12% | Mar 2023 29% | Jun 2023 15% | Sep 2023 8.5% | Dec 2023 14% | Mar 2024 13% | Jun 2024 16% | Sep 2024 20% | Dec 2024 16% | Mar 2025 17% | Jun 2025 13% | Sep 2025 22% | Dec 2025 9.6% | Mar 2026 24% | Jun 2026 23% - ARVINDFASN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 46% | Dec 2022 6.5% | Mar 2023 15% | Jun 2023 -5.8% | Sep 2023 -0.7% | Dec 2023 4.9% | Mar 2024 3.7% | Jun 2024 10% | Sep 2024 8.4% | Dec 2024 6.9% | Mar 2025 8.7% | Jun 2025 16% | Sep 2025 11% | Dec 2025 14% | Mar 2026 15% | Jun 2026 15% - GOKEX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 154% | Sep 2022 28% | Dec 2022 -0.4% | Mar 2023 -11% | Jun 2023 -16% | Sep 2023 -12% | Dec 2023 6.4% | Mar 2024 55% | Jun 2024 81% | Sep 2024 86% | Dec 2024 79% | Mar 2025 25% | Jun 2025 2.6% | Sep 2025 5.9% | Dec 2025 -0.9% | Mar 2026 5.3% | Jun 2026 21% - RAYMONDLSL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 -22% | Sep 2024 -5.3% | Dec 2024 1.6% | Mar 2025 -11% | Jun 2025 17% | Sep 2025 7.3% | Dec 2025 5.4% | Mar 2026 19% | Jun 2026 6.0% - LUXIND: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 -1.7% | Mar 2024 -1.3% | Jun 2024 2.7% | Sep 2024 6.0% | Dec 2024 23% | Mar 2025 16% | Jun 2025 13% | Sep 2025 15% | Dec 2025 22% | Mar 2026 6.7% | Jun 2026 0.8% - KKCL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 68% | Sep 2022 29% | Dec 2022 16% | Mar 2023 17% | Jun 2023 15% | Sep 2023 16% | Dec 2023 0.5% | Mar 2024 10% | Jun 2024 -15% | Sep 2024 18% | Dec 2024 28% | Mar 2025 32% | Jun 2025 55% | Sep 2025 15% | Dec 2025 18% | Mar 2026 13% | Jun 2026 19% - STYLEBAAZA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 40% | Jun 2024 21% | Sep 2024 65% | Dec 2024 24% | Mar 2025 55% | Jun 2025 37% | Sep 2025 71% | Dec 2025 13% | Mar 2026 35% | Jun 2026 29% - KITEX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 141% | Mar 2024 77% | Jun 2024 30% | Sep 2024 61% | Dec 2024 68% | Mar 2025 73% | Jun 2025 3.7% | Sep 2025 -44% | Dec 2025 -34% | Mar 2026 -45% | Jun 2026 -20% - SPAL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 85% | Sep 2022 21% | Dec 2022 0.4% | Mar 2023 8.3% | Jun 2023 0.8% | Sep 2023 8.6% | Dec 2023 0.4% | Mar 2024 7.3% | Jun 2024 -1.2% | Sep 2024 34% | Dec 2024 42% | Mar 2025 35% | Jun 2025 64% | Sep 2025 9.2% | Dec 2025 6.7% | Mar 2026 -8.5% | Jun 2026 -0.5% - CANTABIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 8.6% | Mar 2024 11% | Jun 2024 14% | Sep 2024 12% | Dec 2024 27% | Mar 2025 13% | Jun 2025 24% | Sep 2025 17% | Dec 2025 18% | Mar 2026 15% | Jun 2026 13% - SBC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 3.9% | Mar 2024 2.6% | Jun 2024 24% | Sep 2024 87% | Dec 2024 39% | Mar 2025 39% | Jun 2025 10% | Sep 2025 28% | Dec 2025 45% | Mar 2026 47% | Jun 2026 67% - GOCOLORS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 15% | Mar 2024 15% | Jun 2024 16% | Sep 2024 11% | Dec 2024 6.4% | Mar 2025 13% | Jun 2025 1.4% | Sep 2025 7.2% | Dec 2025 -9.3% | Mar 2026 -4.4% | Jun 2026 0.0% - KALAMANDIR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 0.8% | Mar 2024 11% | Jun 2024 -12% | Sep 2024 6.1% | Dec 2024 18% | Mar 2025 11% | Jun 2025 42% | Sep 2025 28% | Dec 2025 -8.5% | Mar 2026 5.0% | Jun 2026 -1.1% - IRISDOREME: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 15% | Mar 2024 12% | Jun 2024 30% | Sep 2024 28% | Dec 2024 42% | Mar 2025 -4.6% | Jun 2025 19% | Sep 2025 7.4% | Dec 2025 46% | Mar 2026 50% | Jun 2026 26% - MONTECARLO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 -3.1% | Mar 2024 -13% | Jun 2024 -9.4% | Sep 2024 3.8% | Dec 2024 8.9% | Mar 2025 -0.5% | Jun 2025 10% | Sep 2025 13% | Dec 2025 11% | Mar 2026 36% | Jun 2026 7.2% - MUFTI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 16% | Dec 2023 15% | Mar 2024 0.1% | Jun 2024 4.6% | Sep 2024 12% | Dec 2024 3.6% | Mar 2025 15% | Jun 2025 -3.2% | Sep 2025 -12% | Dec 2025 -6.0% | Mar 2026 5.9% | Jun 2026 4.4% - THOMASCOTT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 52% | Dec 2023 99% | Mar 2024 7.6% | Jun 2024 49% | Sep 2024 77% | Dec 2024 110% | Mar 2025 85% | Jun 2025 97% | Sep 2025 40% | Dec 2025 46% | Mar 2026 — | Jun 2026 — - BELLACASA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 13% | Mar 2024 51% | Jun 2024 58% | Sep 2024 66% | Dec 2024 39% | Mar 2025 43% | Jun 2025 22% | Sep 2025 18% | Dec 2025 11% | Mar 2026 — | Jun 2026 — ## Operating Economics & Margin Trend What the numbers say: Vedant Fashions Ltd leads opm at 43%; SBC Exports Ltd leads margin change at +3.4 percentage points. Investor read: Vedant Fashions Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it. This conclusion weakens if: The next two comparable reports reverse the current margin change signal. Evidence: Vedant Fashions Ltd · 43% | 30.3% versus #2 · Cantabil Retail India Ltd | 1/8 recent comparable periods | 26/26 companies · 468 observations Definition: Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth. ### OPM — highest 1. Vedant Fashions Ltd (MANYAVAR): 43% 2. Cantabil Retail India Ltd (CANTABIL): 33% 3. Go Fashion (India) Ltd (GOCOLORS): 27% 4. Credo Brands Marketing Ltd (MUFTI): 21% 5. Kewal Kiran Clothing Ltd (KKCL): 19% ### Margin change — fastest expanders 1. SBC Exports Ltd (SBC): +3.4 pp 2. Iris Clothings Ltd (IRISDOREME): +3.0 pp 3. Karnika Industries Ltd (KARNIKA): +2.3 pp 4. Cantabil Retail India Ltd (CANTABIL): +2.0 pp 5. Pearl Global Industries Ltd (PGIL): +2.0 pp ### 20-quarter OPM history - TRENT: Sep 2021 18% | Dec 2021 18% | Mar 2022 9.4% | Jun 2022 16% | Sep 2022 13% | Dec 2022 14% | Mar 2023 9.0% | Jun 2023 14% | Sep 2023 15% | Dec 2023 18% | Mar 2024 14% | Jun 2024 15% | Sep 2024 16% | Dec 2024 18% | Mar 2025 15% | Jun 2025 17% | Sep 2025 17% | Dec 2025 20% | Mar 2026 18% | Jun 2026 19% - VMM: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 7.7% | Sep 2023 14% | Dec 2023 16% | Mar 2024 12% | Jun 2024 14% | Sep 2024 12% | Dec 2024 16% | Mar 2025 14% | Jun 2025 15% | Sep 2025 13% | Dec 2025 16% | Mar 2026 14% | Jun 2026 15% - MANYAVAR: Sep 2021 46% | Dec 2021 50% | Mar 2022 49% | Jun 2022 50% | Sep 2022 47% | Dec 2022 51% | Mar 2023 49% | Jun 2023 48% | Sep 2023 43% | Dec 2023 51% | Mar 2024 48% | Jun 2024 47% | Sep 2024 46% | Dec 2024 47% | Mar 2025 45% | Jun 2025 43% | Sep 2025 42% | Dec 2025 44% | Mar 2026 45% | Jun 2026 43% - PGIL: Sep 2021 5.9% | Dec 2021 6.1% | Mar 2022 4.4% | Jun 2022 7.9% | Sep 2022 6.1% | Dec 2022 10% | Mar 2023 9.0% | Jun 2023 9.0% | Sep 2023 8.0% | Dec 2023 9.0% | Mar 2024 9.0% | Jun 2024 9.0% | Sep 2024 8.0% | Dec 2024 9.0% | Mar 2025 10% | Jun 2025 9.0% | Sep 2025 9.0% | Dec 2025 8.0% | Mar 2026 10% | Jun 2026 11% - ABLBL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 16% | Sep 2024 14% | Dec 2024 16% | Mar 2025 16% | Jun 2025 14% | Sep 2025 16% | Dec 2025 18% | Mar 2026 16% | Jun 2026 15% - V2RETAIL: Sep 2021 12% | Dec 2021 17% | Mar 2022 4.1% | Jun 2022 10% | Sep 2022 5.2% | Dec 2022 16% | Mar 2023 7.0% | Jun 2023 14% | Sep 2023 9.0% | Dec 2023 16% | Mar 2024 11% | Jun 2024 13% | Sep 2024 9.0% | Dec 2024 19% | Mar 2025 12% | Jun 2025 14% | Sep 2025 12% | Dec 2025 19% | Mar 2026 14% | Jun 2026 14% - ABFRL: Sep 2021 15% | Dec 2021 19% | Mar 2022 16% | Jun 2022 16% | Sep 2022 13% | Dec 2022 12% | Mar 2023 7.0% | Jun 2023 9.0% | Sep 2023 10% | Dec 2023 13% | Mar 2024 2.2% | Jun 2024 5.0% | Sep 2024 4.4% | Dec 2024 13% | Mar 2025 12% | Jun 2025 6.0% | Sep 2025 3.1% | Dec 2025 13% | Mar 2026 9.0% | Jun 2026 5.0% - VMART: Sep 2021 6.1% | Dec 2021 20% | Mar 2022 11% | Jun 2022 15% | Sep 2022 11% | Dec 2022 13% | Mar 2023 4.0% | Jun 2023 8.0% | Sep 2023 0.1% | Dec 2023 13% | Mar 2024 6.0% | Jun 2024 13% | Sep 2024 6.0% | Dec 2024 17% | Mar 2025 9.0% | Jun 2025 14% | Sep 2025 9.0% | Dec 2025 19% | Mar 2026 11% | Jun 2026 15% - ARVINDFASN: Sep 2021 6.9% | Dec 2021 9.6% | Mar 2022 8.0% | Jun 2022 10.0% | Sep 2022 9.8% | Dec 2022 10% | Mar 2023 11% | Jun 2023 11% | Sep 2023 12% | Dec 2023 13% | Mar 2024 12% | Jun 2024 12% | Sep 2024 13% | Dec 2024 14% | Mar 2025 13% | Jun 2025 12% | Sep 2025 13% | Dec 2025 14% | Mar 2026 14% | Jun 2026 12% - GOKEX: Sep 2021 12% | Dec 2021 11% | Mar 2022 13% | Jun 2022 12% | Sep 2022 11% | Dec 2022 12% | Mar 2023 13% | Jun 2023 12% | Sep 2023 9.0% | Dec 2023 11% | Mar 2024 10% | Jun 2024 8.0% | Sep 2024 7.0% | Dec 2024 11% | Mar 2025 12% | Jun 2025 10% | Sep 2025 7.0% | Dec 2025 8.0% | Mar 2026 11% | Jun 2026 10% - RAYMONDLSL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 9.3% | Sep 2023 14% | Dec 2023 16% | Mar 2024 15% | Jun 2024 4.9% | Sep 2024 13% | Dec 2024 10% | Mar 2025 0.9% | Jun 2025 5.0% | Sep 2025 12% | Dec 2025 13% | Mar 2026 7.0% | Jun 2026 6.0% - LUXIND: Sep 2021 22% | Dec 2021 21% | Mar 2022 18% | Jun 2022 13% | Sep 2022 10% | Dec 2022 7.0% | Mar 2023 6.0% | Jun 2023 5.0% | Sep 2023 9.0% | Dec 2023 8.0% | Mar 2024 11% | Jun 2024 8.0% | Sep 2024 10% | Dec 2024 9.0% | Mar 2025 9.0% | Jun 2025 6.0% | Sep 2025 6.0% | Dec 2025 5.0% | Mar 2026 7.0% | Jun 2026 7.0% - KKCL: Sep 2021 18% | Dec 2021 16% | Mar 2022 19% | Jun 2022 19% | Sep 2022 22% | Dec 2022 17% | Mar 2023 20% | Jun 2023 19% | Sep 2023 24% | Dec 2023 19% | Mar 2024 19% | Jun 2024 18% | Sep 2024 21% | Dec 2024 18% | Mar 2025 18% | Jun 2025 18% | Sep 2025 20% | Dec 2025 21% | Mar 2026 19% | Jun 2026 19% - STYLEBAAZA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 -6.1% | Jun 2023 15% | Sep 2023 4.6% | Dec 2023 23% | Mar 2024 11% | Jun 2024 15% | Sep 2024 7.8% | Dec 2024 20% | Mar 2025 12% | Jun 2025 15% | Sep 2025 13% | Dec 2025 19% | Mar 2026 10% | Jun 2026 15% - KITEX: Sep 2021 21% | Dec 2021 24% | Mar 2022 22% | Jun 2022 17% | Sep 2022 19% | Dec 2022 -2.0% | Mar 2023 -6.6% | Jun 2023 10% | Sep 2023 14% | Dec 2023 20% | Mar 2024 20% | Jun 2024 21% | Sep 2024 25% | Dec 2024 20% | Mar 2025 17% | Jun 2025 17% | Sep 2025 -13% | Dec 2025 4.7% | Mar 2026 1.0% | Jun 2026 6.0% - SPAL: Sep 2021 18% | Dec 2021 15% | Mar 2022 18% | Jun 2022 17% | Sep 2022 15% | Dec 2022 9.0% | Mar 2023 14% | Jun 2023 15% | Sep 2023 16% | Dec 2023 14% | Mar 2024 14% | Jun 2024 13% | Sep 2024 13% | Dec 2024 14% | Mar 2025 14% | Jun 2025 13% | Sep 2025 15% | Dec 2025 14% | Mar 2026 12% | Jun 2026 15% - CANTABIL: Sep 2021 26% | Dec 2021 36% | Mar 2022 25% | Jun 2022 35% | Sep 2022 27% | Dec 2022 34% | Mar 2023 24% | Jun 2023 31% | Sep 2023 22% | Dec 2023 31% | Mar 2024 23% | Jun 2024 31% | Sep 2024 23% | Dec 2024 33% | Mar 2025 27% | Jun 2025 31% | Sep 2025 24% | Dec 2025 36% | Mar 2026 31% | Jun 2026 33% - SBC: Sep 2021 5.0% | Dec 2021 6.5% | Mar 2022 4.0% | Jun 2022 5.7% | Sep 2022 5.8% | Dec 2022 6.0% | Mar 2023 4.3% | Jun 2023 9.9% | Sep 2023 11% | Dec 2023 7.5% | Mar 2024 5.7% | Jun 2024 9.2% | Sep 2024 8.7% | Dec 2024 2.6% | Mar 2025 4.7% | Jun 2025 7.5% | Sep 2025 12% | Dec 2025 11% | Mar 2026 4.2% | Jun 2026 11% - GOCOLORS: Sep 2021 31% | Dec 2021 37% | Mar 2022 34% | Jun 2022 32% | Sep 2022 30% | Dec 2022 34% | Mar 2023 32% | Jun 2023 34% | Sep 2023 30% | Dec 2023 33% | Mar 2024 30% | Jun 2024 33% | Sep 2024 30% | Dec 2024 32% | Mar 2025 30% | Jun 2025 31% | Sep 2025 30% | Dec 2025 27% | Mar 2026 25% | Jun 2026 27% - KALAMANDIR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 16% | Sep 2022 13% | Dec 2022 17% | Mar 2023 16% | Jun 2023 15% | Sep 2023 17% | Dec 2023 15% | Mar 2024 15% | Jun 2024 7.0% | Sep 2024 16% | Dec 2024 18% | Mar 2025 15% | Jun 2025 15% | Sep 2025 16% | Dec 2025 17% | Mar 2026 15% | Jun 2026 14% - IRISDOREME: Sep 2021 20% | Dec 2021 21% | Mar 2022 16% | Jun 2022 18% | Sep 2022 21% | Dec 2022 16% | Mar 2023 14% | Jun 2023 26% | Sep 2023 23% | Dec 2023 23% | Mar 2024 17% | Jun 2024 19% | Sep 2024 19% | Dec 2024 18% | Mar 2025 20% | Jun 2025 14% | Sep 2025 16% | Dec 2025 12% | Mar 2026 18% | Jun 2026 17% - MONTECARLO: Sep 2021 22% | Dec 2021 25% | Mar 2022 14% | Jun 2022 3.9% | Sep 2022 20% | Dec 2022 25% | Mar 2023 14% | Jun 2023 -3.0% | Sep 2023 16% | Dec 2023 24% | Mar 2024 -4.8% | Jun 2024 -1.9% | Sep 2024 13% | Dec 2024 28% | Mar 2025 2.8% | Jun 2025 -4.2% | Sep 2025 17% | Dec 2025 27% | Mar 2026 9.0% | Jun 2026 -9.0% - KARNIKA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 14% | Dec 2023 — | Mar 2024 15% | Jun 2024 — | Sep 2024 14% | Dec 2024 20% | Mar 2025 13% | Jun 2025 15% | Sep 2025 21% | Dec 2025 14% | Mar 2026 11% | Jun 2026 17% - MUFTI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 36% | Dec 2022 33% | Mar 2023 31% | Jun 2023 26% | Sep 2023 34% | Dec 2023 28% | Mar 2024 23% | Jun 2024 27% | Sep 2024 31% | Dec 2024 31% | Mar 2025 27% | Jun 2025 26% | Sep 2025 29% | Dec 2025 23% | Mar 2026 26% | Jun 2026 21% - THOMASCOTT: Sep 2021 1.2% | Dec 2021 2.9% | Mar 2022 2.3% | Jun 2022 7.2% | Sep 2022 7.6% | Dec 2022 -7.4% | Mar 2023 14% | Jun 2023 6.5% | Sep 2023 14% | Dec 2023 7.3% | Mar 2024 17% | Jun 2024 11% | Sep 2024 11% | Dec 2024 12% | Mar 2025 14% | Jun 2025 11% | Sep 2025 15% | Dec 2025 12% | Mar 2026 — | Jun 2026 — - BELLACASA: Sep 2021 14% | Dec 2021 9.2% | Mar 2022 8.9% | Jun 2022 7.4% | Sep 2022 7.7% | Dec 2022 8.3% | Mar 2023 7.1% | Jun 2023 8.5% | Sep 2023 7.6% | Dec 2023 7.8% | Mar 2024 9.2% | Jun 2024 8.6% | Sep 2024 8.3% | Dec 2024 9.0% | Mar 2025 7.1% | Jun 2025 8.2% | Sep 2025 8.3% | Dec 2025 8.7% | Mar 2026 — | Jun 2026 — ### 20-quarter Margin change history - TRENT: Sep 2021 +20.5 pp | Dec 2021 −1.9 pp | Mar 2022 −2.1 pp | Jun 2022 +29.4 pp | Sep 2022 −4.7 pp | Dec 2022 −4.2 pp | Mar 2023 −0.4 pp | Jun 2023 −2.2 pp | Sep 2023 +1.9 pp | Dec 2023 +4.0 pp | Mar 2024 +5.0 pp | Jun 2024 +1.0 pp | Sep 2024 +1.0 pp | Dec 2024 0.0 pp | Mar 2025 +1.0 pp | Jun 2025 +2.0 pp | Sep 2025 +1.0 pp | Dec 2025 +2.0 pp | Mar 2026 +3.0 pp | Jun 2026 +2.0 pp - VMM: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 +6.3 pp | Sep 2024 −1.5 pp | Dec 2024 0.0 pp | Mar 2025 +2.0 pp | Jun 2025 +1.0 pp | Sep 2025 +1.0 pp | Dec 2025 0.0 pp | Mar 2026 0.0 pp | Jun 2026 0.0 pp - MANYAVAR: Sep 2021 +40.6 pp | Dec 2021 −1.2 pp | Mar 2022 +4.9 pp | Jun 2022 +6.8 pp | Sep 2022 +1.0 pp | Dec 2022 +1.0 pp | Mar 2023 0.0 pp | Jun 2023 −2.0 pp | Sep 2023 −4.0 pp | Dec 2023 0.0 pp | Mar 2024 −1.0 pp | Jun 2024 −1.0 pp | Sep 2024 +3.0 pp | Dec 2024 −4.0 pp | Mar 2025 −3.0 pp | Jun 2025 −4.0 pp | Sep 2025 −4.0 pp | Dec 2025 −3.0 pp | Mar 2026 0.0 pp | Jun 2026 0.0 pp - PGIL: Sep 2021 −1.0 pp | Dec 2021 +3.4 pp | Mar 2022 −1.5 pp | Jun 2022 +3.7 pp | Sep 2022 +0.2 pp | Dec 2022 +3.9 pp | Mar 2023 +4.6 pp | Jun 2023 +1.1 pp | Sep 2023 +1.9 pp | Dec 2023 −1.0 pp | Mar 2024 0.0 pp | Jun 2024 0.0 pp | Sep 2024 0.0 pp | Dec 2024 0.0 pp | Mar 2025 +1.0 pp | Jun 2025 0.0 pp | Sep 2025 +1.0 pp | Dec 2025 −1.0 pp | Mar 2026 0.0 pp | Jun 2026 +2.0 pp - ABLBL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 −2.0 pp | Sep 2025 +2.0 pp | Dec 2025 +2.0 pp | Mar 2026 0.0 pp | Jun 2026 +1.0 pp - V2RETAIL: Sep 2021 +6.9 pp | Dec 2021 −1.9 pp | Mar 2022 +2.8 pp | Jun 2022 +9.3 pp | Sep 2022 −6.5 pp | Dec 2022 −0.7 pp | Mar 2023 +2.9 pp | Jun 2023 +3.8 pp | Sep 2023 +3.8 pp | Dec 2023 0.0 pp | Mar 2024 +4.0 pp | Jun 2024 −1.0 pp | Sep 2024 0.0 pp | Dec 2024 +3.0 pp | Mar 2025 +1.0 pp | Jun 2025 +1.0 pp | Sep 2025 +3.0 pp | Dec 2025 0.0 pp | Mar 2026 +2.0 pp | Jun 2026 0.0 pp - ABFRL: Sep 2021 +9.6 pp | Dec 2021 −0.2 pp | Mar 2022 +3.4 pp | Jun 2022 +37.1 pp | Sep 2022 −2.3 pp | Dec 2022 −7.5 pp | Mar 2023 −9.3 pp | Jun 2023 −7.3 pp | Sep 2023 −2.9 pp | Dec 2023 +1.0 pp | Mar 2024 −4.8 pp | Jun 2024 −4.0 pp | Sep 2024 −5.6 pp | Dec 2024 0.0 pp | Mar 2025 +9.8 pp | Jun 2025 +1.0 pp | Sep 2025 −1.3 pp | Dec 2025 0.0 pp | Mar 2026 −3.0 pp | Jun 2026 −1.0 pp - VMART: Sep 2021 +6.3 pp | Dec 2021 −2.5 pp | Mar 2022 +1.4 pp | Jun 2022 +16.2 pp | Sep 2022 +4.5 pp | Dec 2022 −6.6 pp | Mar 2023 −7.0 pp | Jun 2023 −7.1 pp | Sep 2023 −10.5 pp | Dec 2023 0.0 pp | Mar 2024 +2.0 pp | Jun 2024 +5.0 pp | Sep 2024 +5.9 pp | Dec 2024 +4.0 pp | Mar 2025 +3.0 pp | Jun 2025 +1.0 pp | Sep 2025 +3.0 pp | Dec 2025 +2.0 pp | Mar 2026 +2.0 pp | Jun 2026 +1.0 pp - ARVINDFASN: Sep 2021 +23.8 pp | Dec 2021 +5.4 pp | Mar 2022 +6.6 pp | Jun 2022 +44.2 pp | Sep 2022 +2.9 pp | Dec 2022 +0.4 pp | Mar 2023 +3.0 pp | Jun 2023 +1.0 pp | Sep 2023 +2.2 pp | Dec 2023 +3.0 pp | Mar 2024 +1.0 pp | Jun 2024 +1.0 pp | Sep 2024 +1.0 pp | Dec 2024 +1.0 pp | Mar 2025 +1.0 pp | Jun 2025 0.0 pp | Sep 2025 0.0 pp | Dec 2025 0.0 pp | Mar 2026 +1.0 pp | Jun 2026 0.0 pp - GOKEX: Sep 2021 +2.9 pp | Dec 2021 +3.4 pp | Mar 2022 +3.6 pp | Jun 2022 +4.4 pp | Sep 2022 −0.2 pp | Dec 2022 +0.6 pp | Mar 2023 −0.1 pp | Jun 2023 +0.2 pp | Sep 2023 −2.5 pp | Dec 2023 −1.0 pp | Mar 2024 −3.0 pp | Jun 2024 −4.0 pp | Sep 2024 −2.0 pp | Dec 2024 0.0 pp | Mar 2025 +2.0 pp | Jun 2025 +2.0 pp | Sep 2025 0.0 pp | Dec 2025 −3.0 pp | Mar 2026 −1.0 pp | Jun 2026 0.0 pp - RAYMONDLSL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 −4.4 pp | Sep 2024 −1.0 pp | Dec 2024 −6.0 pp | Mar 2025 −14.1 pp | Jun 2025 +0.1 pp | Sep 2025 −1.0 pp | Dec 2025 +3.0 pp | Mar 2026 +6.1 pp | Jun 2026 +1.0 pp - LUXIND: Sep 2021 +3.0 pp | Dec 2021 +1.4 pp | Mar 2022 −2.5 pp | Jun 2022 −7.8 pp | Sep 2022 −11.7 pp | Dec 2022 −14.3 pp | Mar 2023 −12.2 pp | Jun 2023 −8.2 pp | Sep 2023 −1.2 pp | Dec 2023 +1.0 pp | Mar 2024 +5.0 pp | Jun 2024 +3.0 pp | Sep 2024 +1.0 pp | Dec 2024 +1.0 pp | Mar 2025 −2.0 pp | Jun 2025 −2.0 pp | Sep 2025 −4.0 pp | Dec 2025 −4.0 pp | Mar 2026 −2.0 pp | Jun 2026 +1.0 pp - KKCL: Sep 2021 +1.8 pp | Dec 2021 +4.7 pp | Mar 2022 +9.7 pp | Jun 2022 +10.3 pp | Sep 2022 +3.7 pp | Dec 2022 +1.0 pp | Mar 2023 +1.1 pp | Jun 2023 +0.1 pp | Sep 2023 +1.9 pp | Dec 2023 +2.0 pp | Mar 2024 −1.0 pp | Jun 2024 −1.0 pp | Sep 2024 −3.0 pp | Dec 2024 −1.0 pp | Mar 2025 −1.0 pp | Jun 2025 0.0 pp | Sep 2025 −1.0 pp | Dec 2025 +3.0 pp | Mar 2026 +1.0 pp | Jun 2026 +1.0 pp - STYLEBAAZA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 +16.7 pp | Jun 2024 +0.2 pp | Sep 2024 +3.3 pp | Dec 2024 −2.5 pp | Mar 2025 +1.0 pp | Jun 2025 +0.2 pp | Sep 2025 +5.2 pp | Dec 2025 −1.1 pp | Mar 2026 −1.2 pp | Jun 2026 −0.6 pp - KITEX: Sep 2021 +0.4 pp | Dec 2021 +1.0 pp | Mar 2022 +5.4 pp | Jun 2022 −1.6 pp | Sep 2022 −2.2 pp | Dec 2022 −26.3 pp | Mar 2023 −28.4 pp | Jun 2023 −6.7 pp | Sep 2023 −5.2 pp | Dec 2023 +22.0 pp | Mar 2024 +26.6 pp | Jun 2024 +11.0 pp | Sep 2024 +11.0 pp | Dec 2024 0.0 pp | Mar 2025 −3.0 pp | Jun 2025 −4.0 pp | Sep 2025 −38.0 pp | Dec 2025 −15.3 pp | Mar 2026 −16.0 pp | Jun 2026 −11.0 pp - SPAL: Sep 2021 +0.1 pp | Dec 2021 −3.0 pp | Mar 2022 +4.7 pp | Jun 2022 −3.7 pp | Sep 2022 −3.2 pp | Dec 2022 −6.4 pp | Mar 2023 −3.6 pp | Jun 2023 −2.5 pp | Sep 2023 +1.0 pp | Dec 2023 +5.0 pp | Mar 2024 0.0 pp | Jun 2024 −2.0 pp | Sep 2024 −3.0 pp | Dec 2024 0.0 pp | Mar 2025 0.0 pp | Jun 2025 0.0 pp | Sep 2025 +2.0 pp | Dec 2025 0.0 pp | Mar 2026 −2.0 pp | Jun 2026 +2.0 pp - CANTABIL: Sep 2021 +5.8 pp | Dec 2021 +11.1 pp | Mar 2022 −0.9 pp | Jun 2022 +14.1 pp | Sep 2022 +0.8 pp | Dec 2022 −2.2 pp | Mar 2023 −1.4 pp | Jun 2023 −4.1 pp | Sep 2023 −5.0 pp | Dec 2023 −3.0 pp | Mar 2024 −1.0 pp | Jun 2024 0.0 pp | Sep 2024 +1.0 pp | Dec 2024 +2.0 pp | Mar 2025 +4.0 pp | Jun 2025 0.0 pp | Sep 2025 +1.0 pp | Dec 2025 +3.0 pp | Mar 2026 +4.0 pp | Jun 2026 +2.0 pp - SBC: Sep 2021 +2.2 pp | Dec 2021 +3.1 pp | Mar 2022 −2.5 pp | Jun 2022 +14.0 pp | Sep 2022 +0.8 pp | Dec 2022 −0.5 pp | Mar 2023 +0.4 pp | Jun 2023 +4.2 pp | Sep 2023 +4.8 pp | Dec 2023 +1.5 pp | Mar 2024 +1.4 pp | Jun 2024 −0.6 pp | Sep 2024 −1.9 pp | Dec 2024 −5.0 pp | Mar 2025 −0.9 pp | Jun 2025 −1.7 pp | Sep 2025 +3.4 pp | Dec 2025 +8.8 pp | Mar 2026 −0.6 pp | Jun 2026 +3.4 pp - GOCOLORS: Sep 2021 — | Dec 2021 +5.4 pp | Mar 2022 +6.4 pp | Jun 2022 +51.4 pp | Sep 2022 −1.3 pp | Dec 2022 −2.7 pp | Mar 2023 −2.4 pp | Jun 2023 +1.7 pp | Sep 2023 −0.1 pp | Dec 2023 −1.0 pp | Mar 2024 −1.5 pp | Jun 2024 −1.0 pp | Sep 2024 0.0 pp | Dec 2024 −1.0 pp | Mar 2025 0.0 pp | Jun 2025 −2.0 pp | Sep 2025 0.0 pp | Dec 2025 −5.0 pp | Mar 2026 −5.0 pp | Jun 2026 −4.0 pp - KALAMANDIR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 −1.4 pp | Sep 2023 +3.7 pp | Dec 2023 −2.0 pp | Mar 2024 −1.0 pp | Jun 2024 −8.0 pp | Sep 2024 −1.0 pp | Dec 2024 +3.0 pp | Mar 2025 0.0 pp | Jun 2025 +8.0 pp | Sep 2025 0.0 pp | Dec 2025 −1.0 pp | Mar 2026 0.0 pp | Jun 2026 −1.0 pp - IRISDOREME: Sep 2021 −4.5 pp | Dec 2021 +3.9 pp | Mar 2022 −2.1 pp | Jun 2022 −3.6 pp | Sep 2022 +1.6 pp | Dec 2022 −5.1 pp | Mar 2023 −1.8 pp | Jun 2023 +8.1 pp | Sep 2023 +2.2 pp | Dec 2023 +7.4 pp | Mar 2024 +2.8 pp | Jun 2024 −7.4 pp | Sep 2024 −4.2 pp | Dec 2024 −4.9 pp | Mar 2025 +3.4 pp | Jun 2025 −4.8 pp | Sep 2025 −3.4 pp | Dec 2025 −5.7 pp | Mar 2026 −2.3 pp | Jun 2026 +3.0 pp - MONTECARLO: Sep 2021 +6.9 pp | Dec 2021 −4.2 pp | Mar 2022 +15.0 pp | Jun 2022 +24.6 pp | Sep 2022 −1.7 pp | Dec 2022 +0.4 pp | Mar 2023 −0.2 pp | Jun 2023 −6.9 pp | Sep 2023 −4.4 pp | Dec 2023 −1.0 pp | Mar 2024 −18.5 pp | Jun 2024 +1.1 pp | Sep 2024 −3.0 pp | Dec 2024 +4.0 pp | Mar 2025 +7.6 pp | Jun 2025 −2.3 pp | Sep 2025 +4.0 pp | Dec 2025 −1.0 pp | Mar 2026 +6.2 pp | Jun 2026 −4.8 pp - KARNIKA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 +0.3 pp | Dec 2024 — | Mar 2025 −1.4 pp | Jun 2025 — | Sep 2025 +6.5 pp | Dec 2025 −6.3 pp | Mar 2026 −2.4 pp | Jun 2026 +2.3 pp - MUFTI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 −1.7 pp | Dec 2023 −4.7 pp | Mar 2024 −7.8 pp | Jun 2024 +1.4 pp | Sep 2024 −3.3 pp | Dec 2024 +2.4 pp | Mar 2025 +3.6 pp | Jun 2025 −1.1 pp | Sep 2025 −1.7 pp | Dec 2025 −7.7 pp | Mar 2026 −1.3 pp | Jun 2026 −4.7 pp - THOMASCOTT: Sep 2021 +37.2 pp | Dec 2021 −1.1 pp | Mar 2022 −4.8 pp | Jun 2022 −6.7 pp | Sep 2022 +6.5 pp | Dec 2022 −10.3 pp | Mar 2023 +11.9 pp | Jun 2023 −0.7 pp | Sep 2023 +6.8 pp | Dec 2023 +14.7 pp | Mar 2024 +2.5 pp | Jun 2024 +4.2 pp | Sep 2024 −3.8 pp | Dec 2024 +4.9 pp | Mar 2025 −2.8 pp | Jun 2025 +0.7 pp | Sep 2025 +4.3 pp | Dec 2025 −0.4 pp | Mar 2026 — | Jun 2026 — - BELLACASA: Sep 2021 +5.7 pp | Dec 2021 −2.2 pp | Mar 2022 +1.7 pp | Jun 2022 +1.8 pp | Sep 2022 −6.3 pp | Dec 2022 −0.9 pp | Mar 2023 −1.8 pp | Jun 2023 +1.1 pp | Sep 2023 −0.1 pp | Dec 2023 −0.6 pp | Mar 2024 +2.1 pp | Jun 2024 +0.1 pp | Sep 2024 +0.7 pp | Dec 2024 +1.2 pp | Mar 2025 −2.2 pp | Jun 2025 −0.4 pp | Sep 2025 −0.1 pp | Dec 2025 −0.3 pp | Mar 2026 — | Jun 2026 — ## Profit Scale & Acceleration What the numbers say: Trent Ltd leads with ₹1,814 crore of TTM profit, 103.4% above Vishal Mega Mart Ltd. Aditya Birla Lifestyle Brands Ltd shows ≥100% on the scoring scale (179.4% uncapped) growth from a ₹176 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale. Investor read: Trent Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it. This conclusion weakens if: The next two comparable reports reverse the current profit growth signal. Evidence: Trent Ltd · ₹1,814 crore | 103.4% versus #2 · Vishal Mega Mart Ltd | 7/8 recent comparable periods | 25/26 companies · 405 observations Definition: Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank. ### Net profit — largest 1. Trent Ltd (TRENT): ₹1.8K Cr 2. Vishal Mega Mart Ltd (VMM): ₹892 Cr 3. Vedant Fashions Ltd (MANYAVAR): ₹386 Cr 4. Pearl Global Industries Ltd (PGIL): ₹304 Cr 5. Arvind Fashions Ltd (ARVINDFASN): ₹186 Cr ### Profit growth — fastest growers 1. Aditya Birla Lifestyle Brands Ltd (ABLBL): 100% 2. Arvind Fashions Ltd (ARVINDFASN): 100% 3. SBC Exports Ltd (SBC): 100% 4. Baazar Style Retail Ltd (STYLEBAAZA): 100% 5. V2 Retail Ltd (V2RETAIL): 100% ### 20-quarter Net profit history - TRENT: Sep 2021 ₹80 Cr | Dec 2021 ₹114 Cr | Mar 2022 ₹-21 Cr | Jun 2022 ₹115 Cr | Sep 2022 ₹79 Cr | Dec 2022 ₹155 Cr | Mar 2023 ₹45 Cr | Jun 2023 ₹167 Cr | Sep 2023 ₹228 Cr | Dec 2023 ₹371 Cr | Mar 2024 ₹712 Cr | Jun 2024 ₹391 Cr | Sep 2024 ₹335 Cr | Dec 2024 ₹497 Cr | Mar 2025 ₹312 Cr | Jun 2025 ₹425 Cr | Sep 2025 ₹373 Cr | Dec 2025 ₹510 Cr | Mar 2026 ₹413 Cr | Jun 2026 ₹518 Cr - VMM: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 ₹98 Cr | Sep 2023 ₹98 Cr | Dec 2023 ₹205 Cr | Mar 2024 ₹61 Cr | Jun 2024 ₹150 Cr | Sep 2024 ₹104 Cr | Dec 2024 ₹263 Cr | Mar 2025 ₹115 Cr | Jun 2025 ₹206 Cr | Sep 2025 ₹152 Cr | Dec 2025 ₹313 Cr | Mar 2026 ₹168 Cr | Jun 2026 ₹259 Cr - MANYAVAR: Sep 2021 ₹53 Cr | Dec 2021 ₹128 Cr | Mar 2022 ₹89 Cr | Jun 2022 ₹101 Cr | Sep 2022 ₹69 Cr | Dec 2022 ₹150 Cr | Mar 2023 ₹109 Cr | Jun 2023 ₹92 Cr | Sep 2023 ₹49 Cr | Dec 2023 ₹158 Cr | Mar 2024 ₹116 Cr | Jun 2024 ₹62 Cr | Sep 2024 ₹67 Cr | Dec 2024 ₹158 Cr | Mar 2025 ₹101 Cr | Jun 2025 ₹70 Cr | Sep 2025 ₹56 Cr | Dec 2025 ₹135 Cr | Mar 2026 ₹114 Cr | Jun 2026 ₹81 Cr - PGIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹37 Cr | Mar 2023 ₹53 Cr | Jun 2023 ₹47 Cr | Sep 2023 ₹39 Cr | Dec 2023 ₹34 Cr | Mar 2024 ₹49 Cr | Jun 2024 ₹62 Cr | Sep 2024 ₹56 Cr | Dec 2024 ₹48 Cr | Mar 2025 ₹65 Cr | Jun 2025 ₹66 Cr | Sep 2025 ₹72 Cr | Dec 2025 ₹52 Cr | Mar 2026 ₹81 Cr | Jun 2026 ₹99 Cr - ABLBL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 ₹23 Cr | Sep 2024 ₹-59 Cr | Dec 2024 ₹60 Cr | Mar 2025 ₹38 Cr | Jun 2025 ₹24 Cr | Sep 2025 ₹23 Cr | Dec 2025 ₹69 Cr | Mar 2026 ₹55 Cr | Jun 2026 ₹29 Cr - V2RETAIL: Sep 2021 ₹-3 Cr | Dec 2021 ₹12 Cr | Mar 2022 ₹-10 Cr | Jun 2022 ₹-3 Cr | Sep 2022 ₹-12 Cr | Dec 2022 ₹9 Cr | Mar 2023 ₹-8 Cr | Jun 2023 ₹6 Cr | Sep 2023 ₹-6 Cr | Dec 2023 ₹24 Cr | Mar 2024 ₹4 Cr | Jun 2024 ₹16 Cr | Sep 2024 ₹-2 Cr | Dec 2024 ₹51 Cr | Mar 2025 ₹6 Cr | Jun 2025 ₹25 Cr | Sep 2025 ₹17 Cr | Dec 2025 ₹103 Cr | Mar 2026 ₹18 Cr | Jun 2026 ₹42 Cr - ABFRL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹11 Cr | Mar 2023 ₹-195 Cr | Jun 2023 ₹-162 Cr | Sep 2023 ₹-200 Cr | Dec 2023 ₹-108 Cr | Mar 2024 ₹-266 Cr | Jun 2024 ₹-215 Cr | Sep 2024 ₹-175 Cr | Dec 2024 ₹-42 Cr | Mar 2025 ₹-24 Cr | Jun 2025 ₹-234 Cr | Sep 2025 ₹-295 Cr | Dec 2025 ₹-137 Cr | Mar 2026 ₹-164 Cr | Jun 2026 ₹-249 Cr - VMART: Sep 2021 ₹-14 Cr | Dec 2021 ₹57 Cr | Mar 2022 ₹-3 Cr | Jun 2022 ₹20 Cr | Sep 2022 ₹-11 Cr | Dec 2022 ₹20 Cr | Mar 2023 ₹-37 Cr | Jun 2023 ₹-22 Cr | Sep 2023 ₹-64 Cr | Dec 2023 ₹28 Cr | Mar 2024 ₹-39 Cr | Jun 2024 ₹12 Cr | Sep 2024 ₹-57 Cr | Dec 2024 ₹72 Cr | Mar 2025 ₹19 Cr | Jun 2025 ₹34 Cr | Sep 2025 ₹-9 Cr | Dec 2025 ₹88 Cr | Mar 2026 ₹11 Cr | Jun 2026 ₹47 Cr - ARVINDFASN: Sep 2021 ₹-94 Cr | Dec 2021 ₹18 Cr | Mar 2022 ₹22 Cr | Jun 2022 ₹8 Cr | Sep 2022 ₹28 Cr | Dec 2022 ₹22 Cr | Mar 2023 ₹29 Cr | Jun 2023 ₹-5 Cr | Sep 2023 ₹37 Cr | Dec 2023 ₹65 Cr | Mar 2024 ₹40 Cr | Jun 2024 ₹14 Cr | Sep 2024 ₹45 Cr | Dec 2024 ₹47 Cr | Mar 2025 ₹-72 Cr | Jun 2025 ₹25 Cr | Sep 2025 ₹56 Cr | Dec 2025 ₹36 Cr | Mar 2026 ₹66 Cr | Jun 2026 ₹28 Cr - GOKEX: Sep 2021 ₹29 Cr | Dec 2021 ₹30 Cr | Mar 2022 ₹61 Cr | Jun 2022 ₹39 Cr | Sep 2022 ₹46 Cr | Dec 2022 ₹41 Cr | Mar 2023 ₹47 Cr | Jun 2023 ₹33 Cr | Sep 2023 ₹24 Cr | Dec 2023 ₹30 Cr | Mar 2024 ₹44 Cr | Jun 2024 ₹27 Cr | Sep 2024 ₹28 Cr | Dec 2024 ₹50 Cr | Mar 2025 ₹53 Cr | Jun 2025 ₹41 Cr | Sep 2025 ₹8 Cr | Dec 2025 ₹15 Cr | Mar 2026 ₹36 Cr | Jun 2026 ₹44 Cr - RAYMONDLSL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 ₹1.1K Cr | Sep 2023 ₹139 Cr | Dec 2023 ₹162 Cr | Mar 2024 ₹236 Cr | Jun 2024 ₹-23 Cr | Sep 2024 ₹42 Cr | Dec 2024 ₹64 Cr | Mar 2025 ₹-45 Cr | Jun 2025 ₹-20 Cr | Sep 2025 ₹75 Cr | Dec 2025 ₹43 Cr | Mar 2026 ₹-52 Cr | Jun 2026 ₹-23 Cr - LUXIND: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹17 Cr | Mar 2023 ₹30 Cr | Jun 2023 ₹15 Cr | Sep 2023 ₹36 Cr | Dec 2023 ₹19 Cr | Mar 2024 ₹55 Cr | Jun 2024 ₹33 Cr | Sep 2024 ₹52 Cr | Dec 2024 ₹32 Cr | Mar 2025 ₹48 Cr | Jun 2025 ₹23 Cr | Sep 2025 ₹23 Cr | Dec 2025 ₹13 Cr | Mar 2026 ₹47 Cr | Jun 2026 ₹23 Cr - KKCL: Sep 2021 ₹27 Cr | Dec 2021 ₹21 Cr | Mar 2022 ₹25 Cr | Jun 2022 ₹22 Cr | Sep 2022 ₹39 Cr | Dec 2022 ₹27 Cr | Mar 2023 ₹31 Cr | Jun 2023 ₹34 Cr | Sep 2023 ₹50 Cr | Dec 2023 ₹33 Cr | Mar 2024 ₹38 Cr | Jun 2024 ₹25 Cr | Sep 2024 ₹68 Cr | Dec 2024 ₹26 Cr | Mar 2025 ₹30 Cr | Jun 2025 ₹32 Cr | Sep 2025 ₹47 Cr | Dec 2025 ₹38 Cr | Mar 2026 ₹35 Cr | Jun 2026 ₹41 Cr - STYLEBAAZA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 ₹-15 Cr | Jun 2023 ₹6 Cr | Sep 2023 ₹-15 Cr | Dec 2023 ₹38 Cr | Mar 2024 ₹-6 Cr | Jun 2024 ₹-0 Cr | Sep 2024 ₹-9 Cr | Dec 2024 ₹30 Cr | Mar 2025 ₹-6 Cr | Jun 2025 ₹2 Cr | Sep 2025 ₹51 Cr | Dec 2025 ₹19 Cr | Mar 2026 ₹-26 Cr | Jun 2026 ₹2 Cr - KITEX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹-4 Cr | Mar 2023 ₹3 Cr | Jun 2023 ₹8 Cr | Sep 2023 ₹13 Cr | Dec 2023 ₹15 Cr | Mar 2024 ₹20 Cr | Jun 2024 ₹27 Cr | Sep 2024 ₹37 Cr | Dec 2024 ₹41 Cr | Mar 2025 ₹32 Cr | Jun 2025 ₹19 Cr | Sep 2025 ₹-6 Cr | Dec 2025 ₹-17 Cr | Mar 2026 ₹-9 Cr | Jun 2026 ₹-17 Cr - SPAL: Sep 2021 ₹23 Cr | Dec 2021 ₹25 Cr | Mar 2022 ₹25 Cr | Jun 2022 ₹26 Cr | Sep 2022 ₹26 Cr | Dec 2022 ₹13 Cr | Mar 2023 ₹21 Cr | Jun 2023 ₹15 Cr | Sep 2023 ₹29 Cr | Dec 2023 ₹18 Cr | Mar 2024 ₹28 Cr | Jun 2024 ₹18 Cr | Sep 2024 ₹22 Cr | Dec 2024 ₹24 Cr | Mar 2025 ₹30 Cr | Jun 2025 ₹21 Cr | Sep 2025 ₹35 Cr | Dec 2025 ₹27 Cr | Mar 2026 ₹19 Cr | Jun 2026 ₹25 Cr - CANTABIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹27 Cr | Mar 2023 ₹17 Cr | Jun 2023 ₹12 Cr | Sep 2023 ₹8 Cr | Dec 2023 ₹24 Cr | Mar 2024 ₹18 Cr | Jun 2024 ₹11 Cr | Sep 2024 ₹7 Cr | Dec 2024 ₹34 Cr | Mar 2025 ₹23 Cr | Jun 2025 ₹15 Cr | Sep 2025 ₹7 Cr | Dec 2025 ₹45 Cr | Mar 2026 ₹29 Cr | Jun 2026 ₹16 Cr - SBC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹2 Cr | Mar 2023 ₹3 Cr | Jun 2023 ₹5 Cr | Sep 2023 ₹2 Cr | Dec 2023 ₹3 Cr | Mar 2024 ₹3 Cr | Jun 2024 ₹5 Cr | Sep 2024 ₹5 Cr | Dec 2024 ₹4 Cr | Mar 2025 ₹4 Cr | Jun 2025 ₹3 Cr | Sep 2025 ₹11 Cr | Dec 2025 ₹11 Cr | Mar 2026 ₹6 Cr | Jun 2026 ₹10 Cr - GOCOLORS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹24 Cr | Mar 2023 ₹15 Cr | Jun 2023 ₹26 Cr | Sep 2023 ₹20 Cr | Dec 2023 ₹23 Cr | Mar 2024 ₹13 Cr | Jun 2024 ₹29 Cr | Sep 2024 ₹21 Cr | Dec 2024 ₹24 Cr | Mar 2025 ₹20 Cr | Jun 2025 ₹22 Cr | Sep 2025 ₹22 Cr | Dec 2025 ₹7 Cr | Mar 2026 ₹8 Cr | Jun 2026 ₹16 Cr - KALAMANDIR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹31 Cr | Mar 2023 ₹20 Cr | Jun 2023 ₹17 Cr | Sep 2023 ₹23 Cr | Dec 2023 ₹32 Cr | Mar 2024 ₹29 Cr | Jun 2024 ₹2 Cr | Sep 2024 ₹24 Cr | Dec 2024 ₹46 Cr | Mar 2025 ₹14 Cr | Jun 2025 ₹30 Cr | Sep 2025 ₹40 Cr | Dec 2025 ₹38 Cr | Mar 2026 ₹33 Cr | Jun 2026 ₹26 Cr - IRISDOREME: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹1 Cr | Mar 2023 ₹2 Cr | Jun 2023 ₹3 Cr | Sep 2023 ₹4 Cr | Dec 2023 ₹2 Cr | Mar 2024 ₹3 Cr | Jun 2024 ₹2 Cr | Sep 2024 ₹4 Cr | Dec 2024 ₹2 Cr | Mar 2025 ₹4 Cr | Jun 2025 ₹3 Cr | Sep 2025 ₹4 Cr | Dec 2025 ₹3 Cr | Mar 2026 ₹6 Cr | Jun 2026 ₹4 Cr - MONTECARLO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹86 Cr | Mar 2023 ₹20 Cr | Jun 2023 ₹-12 Cr | Sep 2023 ₹13 Cr | Dec 2023 ₹77 Cr | Mar 2024 ₹-18 Cr | Jun 2024 ₹-13 Cr | Sep 2024 ₹8 Cr | Dec 2024 ₹97 Cr | Mar 2025 ₹-10 Cr | Jun 2025 ₹-16 Cr | Sep 2025 ₹16 Cr | Dec 2025 ₹107 Cr | Mar 2026 ₹5 Cr | Jun 2026 ₹-23 Cr - KARNIKA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 ₹7 Cr | Mar 2026 ₹9 Cr | Jun 2026 ₹9 Cr - MUFTI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 ₹26 Cr | Dec 2022 ₹19 Cr | Mar 2023 ₹22 Cr | Jun 2023 ₹9 Cr | Sep 2023 ₹28 Cr | Dec 2023 ₹16 Cr | Mar 2024 ₹7 Cr | Jun 2024 ₹10 Cr | Sep 2024 ₹26 Cr | Dec 2024 ₹18 Cr | Mar 2025 ₹14 Cr | Jun 2025 ₹6 Cr | Sep 2025 ₹19 Cr | Dec 2025 ₹7 Cr | Mar 2026 ₹15 Cr | Jun 2026 ₹2 Cr - THOMASCOTT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 ₹1 Cr | Dec 2022 ₹-1 Cr | Mar 2023 ₹3 Cr | Jun 2023 ₹1 Cr | Sep 2023 ₹2 Cr | Dec 2023 ₹2 Cr | Mar 2024 ₹4 Cr | Jun 2024 ₹1 Cr | Sep 2024 ₹3 Cr | Dec 2024 ₹3 Cr | Mar 2025 ₹4 Cr | Jun 2025 ₹3 Cr | Sep 2025 ₹5 Cr | Dec 2025 ₹5 Cr | Mar 2026 — | Jun 2026 — - BELLACASA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹2 Cr | Mar 2023 ₹1 Cr | Jun 2023 ₹2 Cr | Sep 2023 ₹3 Cr | Dec 2023 ₹3 Cr | Mar 2024 ₹3 Cr | Jun 2024 ₹3 Cr | Sep 2024 ₹5 Cr | Dec 2024 ₹4 Cr | Mar 2025 ₹4 Cr | Jun 2025 ₹5 Cr | Sep 2025 ₹6 Cr | Dec 2025 ₹4 Cr | Mar 2026 — | Jun 2026 — ### 20-quarter Profit growth history - TRENT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -1.3% | Dec 2022 36% | Mar 2023 — | Jun 2023 45% | Sep 2023 189% | Dec 2023 139% | Mar 2024 1,482% | Jun 2024 134% | Sep 2024 47% | Dec 2024 34% | Mar 2025 -56% | Jun 2025 8.7% | Sep 2025 11% | Dec 2025 2.6% | Mar 2026 32% | Jun 2026 22% - VMM: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 53% | Sep 2024 6.1% | Dec 2024 28% | Mar 2025 89% | Jun 2025 37% | Sep 2025 46% | Dec 2025 19% | Mar 2026 46% | Jun 2026 26% - MANYAVAR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 124% | Sep 2022 30% | Dec 2022 17% | Mar 2023 22% | Jun 2023 -8.9% | Sep 2023 -29% | Dec 2023 5.3% | Mar 2024 6.4% | Jun 2024 -33% | Sep 2024 37% | Dec 2024 0.0% | Mar 2025 -13% | Jun 2025 13% | Sep 2025 -16% | Dec 2025 -15% | Mar 2026 13% | Jun 2026 16% - PGIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 -8.1% | Mar 2024 -7.6% | Jun 2024 32% | Sep 2024 44% | Dec 2024 41% | Mar 2025 33% | Jun 2025 6.5% | Sep 2025 29% | Dec 2025 8.3% | Mar 2026 25% | Jun 2026 50% - ABLBL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 4.4% | Sep 2025 — | Dec 2025 15% | Mar 2026 45% | Jun 2026 21% - V2RETAIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 -25% | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 167% | Mar 2024 — | Jun 2024 167% | Sep 2024 — | Dec 2024 113% | Mar 2025 50% | Jun 2025 56% | Sep 2025 — | Dec 2025 102% | Mar 2026 200% | Jun 2026 68% - ABFRL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 -1,082% | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — - VMART: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 -65% | Mar 2023 — | Jun 2023 -210% | Sep 2023 — | Dec 2023 40% | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 157% | Mar 2025 — | Jun 2025 183% | Sep 2025 — | Dec 2025 22% | Mar 2026 -42% | Jun 2026 38% - ARVINDFASN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 22% | Mar 2023 32% | Jun 2023 -163% | Sep 2023 32% | Dec 2023 195% | Mar 2024 38% | Jun 2024 — | Sep 2024 22% | Dec 2024 -28% | Mar 2025 -280% | Jun 2025 79% | Sep 2025 24% | Dec 2025 -23% | Mar 2026 — | Jun 2026 12% - GOKEX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 59% | Dec 2022 37% | Mar 2023 -23% | Jun 2023 -15% | Sep 2023 -48% | Dec 2023 -27% | Mar 2024 -6.4% | Jun 2024 -18% | Sep 2024 17% | Dec 2024 67% | Mar 2025 20% | Jun 2025 52% | Sep 2025 -71% | Dec 2025 -70% | Mar 2026 -32% | Jun 2026 7.3% - RAYMONDLSL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 -102% | Sep 2024 -70% | Dec 2024 -60% | Mar 2025 -119% | Jun 2025 — | Sep 2025 79% | Dec 2025 -33% | Mar 2026 — | Jun 2026 — - LUXIND: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 12% | Mar 2024 83% | Jun 2024 120% | Sep 2024 44% | Dec 2024 68% | Mar 2025 -13% | Jun 2025 -30% | Sep 2025 -56% | Dec 2025 -59% | Mar 2026 -2.1% | Jun 2026 0.0% - KKCL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 144% | Sep 2022 44% | Dec 2022 29% | Mar 2023 24% | Jun 2023 55% | Sep 2023 28% | Dec 2023 22% | Mar 2024 23% | Jun 2024 -26% | Sep 2024 36% | Dec 2024 -21% | Mar 2025 -21% | Jun 2025 28% | Sep 2025 -31% | Dec 2025 46% | Mar 2026 17% | Jun 2026 28% - STYLEBAAZA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 -108% | Sep 2024 — | Dec 2024 -21% | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 -38% | Mar 2026 — | Jun 2026 8.3% - KITEX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 573% | Jun 2024 238% | Sep 2024 185% | Dec 2024 173% | Mar 2025 60% | Jun 2025 -30% | Sep 2025 -116% | Dec 2025 -141% | Mar 2026 -128% | Jun 2026 -189% - SPAL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 117% | Sep 2022 13% | Dec 2022 -48% | Mar 2023 -16% | Jun 2023 -42% | Sep 2023 12% | Dec 2023 38% | Mar 2024 33% | Jun 2024 20% | Sep 2024 -24% | Dec 2024 33% | Mar 2025 7.1% | Jun 2025 17% | Sep 2025 59% | Dec 2025 13% | Mar 2026 -37% | Jun 2026 19% - CANTABIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 -11% | Mar 2024 5.9% | Jun 2024 -8.3% | Sep 2024 -13% | Dec 2024 42% | Mar 2025 28% | Jun 2025 36% | Sep 2025 0.0% | Dec 2025 32% | Mar 2026 26% | Jun 2026 6.7% - SBC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 44% | Mar 2024 11% | Jun 2024 16% | Sep 2024 147% | Dec 2024 28% | Mar 2025 21% | Jun 2025 -51% | Sep 2025 112% | Dec 2025 206% | Mar 2026 52% | Jun 2026 268% - GOCOLORS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 -5.4% | Mar 2024 -12% | Jun 2024 12% | Sep 2024 5.0% | Dec 2024 4.4% | Mar 2025 54% | Jun 2025 -24% | Sep 2025 4.8% | Dec 2025 -71% | Mar 2026 -60% | Jun 2026 -27% - KALAMANDIR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 3.2% | Mar 2024 45% | Jun 2024 -88% | Sep 2024 4.4% | Dec 2024 44% | Mar 2025 -52% | Jun 2025 1,400% | Sep 2025 67% | Dec 2025 -17% | Mar 2026 136% | Jun 2026 -13% - IRISDOREME: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 152% | Mar 2024 57% | Jun 2024 -21% | Sep 2024 4.9% | Dec 2024 19% | Mar 2025 28% | Jun 2025 8.7% | Sep 2025 7.3% | Dec 2025 27% | Mar 2026 44% | Jun 2026 52% - MONTECARLO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 -10% | Mar 2024 -191% | Jun 2024 — | Sep 2024 -38% | Dec 2024 26% | Mar 2025 — | Jun 2025 — | Sep 2025 100% | Dec 2025 10% | Mar 2026 — | Jun 2026 — - MUFTI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 7.6% | Dec 2023 -18% | Mar 2024 -68% | Jun 2024 14% | Sep 2024 -5.4% | Dec 2024 18% | Mar 2025 97% | Jun 2025 -36% | Sep 2025 -29% | Dec 2025 -62% | Mar 2026 10% | Jun 2026 -64% - THOMASCOTT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 214% | Dec 2023 — | Mar 2024 49% | Jun 2024 21% | Sep 2024 14% | Dec 2024 25% | Mar 2025 4.0% | Jun 2025 150% | Sep 2025 67% | Dec 2025 66% | Mar 2026 — | Jun 2026 — - BELLACASA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 7.7% | Mar 2024 122% | Jun 2024 65% | Sep 2024 78% | Dec 2024 40% | Mar 2025 41% | Jun 2025 41% | Sep 2025 39% | Dec 2025 27% | Mar 2026 — | Jun 2026 — ## Return On Capital Employed What the numbers say: Karnika Industries Ltd leads ROCE at 51.2%, 22.9 percentage points above Trent Ltd. Karnika Industries Ltd has the strongest latest improvement at +15.6 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability. Investor read: Karnika Industries Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it. This conclusion weakens if: The next two comparable reports reverse the current roce change signal. Evidence: Karnika Industries Ltd · 51.2% | 80.9% versus #2 · Trent Ltd | 6/6 recent comparable periods | 26/26 companies · 260 observations Definition: ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability. ### ROCE — highest 1. Karnika Industries Ltd (KARNIKA): 51% 2. Trent Ltd (TRENT): 28% 3. Vedant Fashions Ltd (MANYAVAR): 24% 4. Thomas Scott India Ltd (THOMASCOTT): 20% — older report 5. Pearl Global Industries Ltd (PGIL): 20% ### ROCE change — fastest improvers 1. Karnika Industries Ltd (KARNIKA): +15.6 pp 2. SBC Exports Ltd (SBC): +9.3 pp 3. V2 Retail Ltd (V2RETAIL): +3.8 pp 4. Bella Casa Fashion & Retail Ltd (BELLACASA): +3.0 pp — older report 5. Monte Carlo Fashions Ltd (MONTECARLO): +2.1 pp ### 20-quarter ROCE history - TRENT: Sep 2021 3.3% | Dec 2021 — | Mar 2022 3.7% | Jun 2022 — | Sep 2022 8.6% | Dec 2022 — | Mar 2023 8.3% | Jun 2023 — | Sep 2023 10% | Dec 2023 20% | Mar 2024 22% | Jun 2024 39% | Sep 2024 26% | Dec 2024 38% | Mar 2025 25% | Jun 2025 34% | Sep 2025 27% | Dec 2025 33% | Mar 2026 27% | Jun 2026 32% - VMM: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 11% | Jun 2024 12% | Sep 2024 12% | Dec 2024 13% | Mar 2025 12% | Jun 2025 15% | Sep 2025 13% | Dec 2025 16% | Mar 2026 14% | Jun 2026 — - MANYAVAR: Sep 2021 27% | Dec 2021 — | Mar 2022 28% | Jun 2022 37% | Sep 2022 35% | Dec 2022 45% | Mar 2023 32% | Jun 2023 37% | Sep 2023 29% | Dec 2023 36% | Mar 2024 25% | Jun 2024 29% | Sep 2024 24% | Dec 2024 31% | Mar 2025 21% | Jun 2025 26% | Sep 2025 21% | Dec 2025 25% | Mar 2026 19% | Jun 2026 — - ABLBL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 13% | Jun 2025 12% | Sep 2025 12% | Dec 2025 15% | Mar 2026 12% | Jun 2026 — - V2RETAIL: Sep 2021 0.5% | Dec 2021 — | Mar 2022 1.0% | Jun 2022 — | Sep 2022 2.9% | Dec 2022 — | Mar 2023 2.9% | Jun 2023 — | Sep 2023 6.0% | Dec 2023 11% | Mar 2024 11% | Jun 2024 15% | Sep 2024 12% | Dec 2024 21% | Mar 2025 16% | Jun 2025 22% | Sep 2025 15% | Dec 2025 26% | Mar 2026 19% | Jun 2026 — - VMART: Sep 2021 3.7% | Dec 2021 — | Mar 2022 4.4% | Jun 2022 — | Sep 2022 8.9% | Dec 2022 — | Mar 2023 4.7% | Jun 2023 — | Sep 2023 -0.8% | Dec 2023 0.6% | Mar 2024 0.2% | Jun 2024 2.8% | Sep 2024 3.6% | Dec 2024 6.1% | Mar 2025 12% | Jun 2025 12% | Sep 2025 14% | Dec 2025 14% | Mar 2026 14% | Jun 2026 — - ARVINDFASN: Sep 2021 -2.5% | Dec 2021 — | Mar 2022 -2.7% | Jun 2022 — | Sep 2022 11% | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 11% | Dec 2023 20% | Mar 2024 15% | Jun 2024 19% | Sep 2024 16% | Dec 2024 20% | Mar 2025 18% | Jun 2025 21% | Sep 2025 19% | Dec 2025 21% | Mar 2026 21% | Jun 2026 22% - GOKEX: Sep 2021 13% | Dec 2021 — | Mar 2022 15% | Jun 2022 — | Sep 2022 22% | Dec 2022 — | Mar 2023 19% | Jun 2023 — | Sep 2023 15% | Dec 2023 14% | Mar 2024 9.5% | Jun 2024 15% | Sep 2024 7.9% | Dec 2024 15% | Mar 2025 9.0% | Jun 2025 15% | Sep 2025 7.7% | Dec 2025 11% | Mar 2026 5.9% | Jun 2026 — - RAYMONDLSL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 7.3% | Jun 2024 8.0% | Sep 2024 5.2% | Dec 2024 5.6% | Mar 2025 1.4% | Jun 2025 2.7% | Sep 2025 1.4% | Dec 2025 3.0% | Mar 2026 2.7% | Jun 2026 — - KKCL: Sep 2021 12% | Dec 2021 15% | Mar 2022 20% | Jun 2022 24% | Sep 2022 26% | Dec 2022 26% | Mar 2023 26% | Jun 2023 26% | Sep 2023 25% | Dec 2023 25% | Mar 2024 24% | Jun 2024 22% | Sep 2024 16% | Dec 2024 15% | Mar 2025 15% | Jun 2025 15% | Sep 2025 15% | Dec 2025 16% | Mar 2026 16% | Jun 2026 — - STYLEBAAZA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 -1.8% | Jun 2023 — | Sep 2023 — | Dec 2023 8.5% | Mar 2024 10% | Jun 2024 12% | Sep 2024 8.5% | Dec 2024 9.9% | Mar 2025 7.8% | Jun 2025 11% | Sep 2025 12% | Dec 2025 17% | Mar 2026 9.3% | Jun 2026 — - SPAL: Sep 2021 15% | Dec 2021 — | Mar 2022 16% | Jun 2022 — | Sep 2022 16% | Dec 2022 — | Mar 2023 15% | Jun 2023 17% | Sep 2023 14% | Dec 2023 17% | Mar 2024 16% | Jun 2024 17% | Sep 2024 14% | Dec 2024 17% | Mar 2025 15% | Jun 2025 20% | Sep 2025 18% | Dec 2025 20% | Mar 2026 16% | Jun 2026 — - CANTABIL: Sep 2021 12% | Dec 2021 — | Mar 2022 17% | Jun 2022 — | Sep 2022 23% | Dec 2022 — | Mar 2023 24% | Jun 2023 — | Sep 2023 21% | Dec 2023 23% | Mar 2024 16% | Jun 2024 20% | Sep 2024 15% | Dec 2024 21% | Mar 2025 16% | Jun 2025 20% | Sep 2025 16% | Dec 2025 21% | Mar 2026 17% | Jun 2026 — - SBC: Sep 2021 13% | Dec 2021 — | Mar 2022 22% | Jun 2022 — | Sep 2022 27% | Dec 2022 — | Mar 2023 24% | Jun 2023 — | Sep 2023 23% | Dec 2023 37% | Mar 2024 23% | Jun 2024 36% | Sep 2024 19% | Dec 2024 32% | Mar 2025 20% | Jun 2025 31% | Sep 2025 26% | Dec 2025 41% | Mar 2026 30% | Jun 2026 — - GOCOLORS: Sep 2021 — | Dec 2021 — | Mar 2022 8.5% | Jun 2022 — | Sep 2022 17% | Dec 2022 — | Mar 2023 16% | Jun 2023 — | Sep 2023 15% | Dec 2023 19% | Mar 2024 14% | Jun 2024 17% | Sep 2024 13% | Dec 2024 16% | Mar 2025 14% | Jun 2025 15% | Sep 2025 12% | Dec 2025 13% | Mar 2026 9.1% | Jun 2026 — - KALAMANDIR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 27% | Jun 2023 — | Sep 2023 14% | Dec 2023 15% | Mar 2024 13% | Jun 2024 17% | Sep 2024 10% | Dec 2024 14% | Mar 2025 11% | Jun 2025 16% | Sep 2025 14% | Dec 2025 15% | Mar 2026 13% | Jun 2026 14% - IRISDOREME: Sep 2021 30% | Dec 2021 — | Mar 2022 28% | Jun 2022 — | Sep 2022 26% | Dec 2022 — | Mar 2023 22% | Jun 2023 — | Sep 2023 23% | Dec 2023 29% | Mar 2024 26% | Jun 2024 28% | Sep 2024 22% | Dec 2024 26% | Mar 2025 23% | Jun 2025 26% | Sep 2025 15% | Dec 2025 19% | Mar 2026 16% | Jun 2026 — - MONTECARLO: Sep 2021 18% | Dec 2021 — | Mar 2022 18% | Jun 2022 — | Sep 2022 20% | Dec 2022 — | Mar 2023 19% | Jun 2023 — | Sep 2023 16% | Dec 2023 19% | Mar 2024 9.2% | Jun 2024 12% | Sep 2024 8.6% | Dec 2024 15% | Mar 2025 12% | Jun 2025 15% | Sep 2025 12% | Dec 2025 18% | Mar 2026 14% | Jun 2026 — - KARNIKA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 18% | Sep 2023 36% | Dec 2023 25% | Mar 2024 33% | Jun 2024 — | Sep 2024 39% | Dec 2024 35% | Mar 2025 36% | Jun 2025 — | Sep 2025 39% | Dec 2025 42% | Mar 2026 51% | Jun 2026 — ### 20-quarter ROCE change history - TRENT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +5.3 pp | Dec 2022 — | Mar 2023 +4.6 pp | Jun 2023 — | Sep 2023 +1.4 pp | Dec 2023 — | Mar 2024 +14.0 pp | Jun 2024 — | Sep 2024 +15.7 pp | Dec 2024 +18.5 pp | Mar 2025 +2.8 pp | Jun 2025 −4.7 pp | Sep 2025 +1.1 pp | Dec 2025 −5.2 pp | Mar 2026 +2.1 pp | Jun 2026 −2.5 pp - VMM: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 +1.3 pp | Jun 2025 +3.2 pp | Sep 2025 +1.4 pp | Dec 2025 +3.0 pp | Mar 2026 +1.3 pp | Jun 2026 — - MANYAVAR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +7.9 pp | Dec 2022 — | Mar 2023 +3.9 pp | Jun 2023 −0.1 pp | Sep 2023 −5.7 pp | Dec 2023 −8.5 pp | Mar 2024 −7.6 pp | Jun 2024 −8.8 pp | Sep 2024 −4.9 pp | Dec 2024 −5.6 pp | Mar 2025 −3.6 pp | Jun 2025 −2.4 pp | Sep 2025 −2.9 pp | Dec 2025 −5.5 pp | Mar 2026 −2.4 pp | Jun 2026 — - ABLBL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 −0.8 pp | Jun 2026 — - V2RETAIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +2.4 pp | Dec 2022 — | Mar 2023 +1.9 pp | Jun 2023 — | Sep 2023 +3.1 pp | Dec 2023 — | Mar 2024 +7.6 pp | Jun 2024 — | Sep 2024 +5.9 pp | Dec 2024 +10.3 pp | Mar 2025 +5.0 pp | Jun 2025 +6.5 pp | Sep 2025 +3.0 pp | Dec 2025 +4.9 pp | Mar 2026 +3.8 pp | Jun 2026 — - VMART: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +5.2 pp | Dec 2022 — | Mar 2023 +0.3 pp | Jun 2023 — | Sep 2023 −9.7 pp | Dec 2023 — | Mar 2024 −4.5 pp | Jun 2024 — | Sep 2024 +4.4 pp | Dec 2024 +5.5 pp | Mar 2025 +11.5 pp | Jun 2025 +9.2 pp | Sep 2025 +10.3 pp | Dec 2025 +7.8 pp | Mar 2026 +2.0 pp | Jun 2026 — - ARVINDFASN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +13.2 pp | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 −0.2 pp | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 +5.3 pp | Dec 2024 +0.2 pp | Mar 2025 +3.4 pp | Jun 2025 +1.7 pp | Sep 2025 +3.5 pp | Dec 2025 +1.4 pp | Mar 2026 +2.5 pp | Jun 2026 +1.5 pp - GOKEX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +9.2 pp | Dec 2022 — | Mar 2023 +4.0 pp | Jun 2023 — | Sep 2023 −7.0 pp | Dec 2023 — | Mar 2024 −9.8 pp | Jun 2024 — | Sep 2024 −7.3 pp | Dec 2024 +0.7 pp | Mar 2025 −0.5 pp | Jun 2025 +0.1 pp | Sep 2025 −0.2 pp | Dec 2025 −4.5 pp | Mar 2026 −3.1 pp | Jun 2026 — - RAYMONDLSL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 −5.9 pp | Jun 2025 −5.3 pp | Sep 2025 −3.8 pp | Dec 2025 −2.6 pp | Mar 2026 +1.3 pp | Jun 2026 — - KKCL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +13.4 pp | Dec 2022 +11.3 pp | Mar 2023 +6.3 pp | Jun 2023 +1.3 pp | Sep 2023 −0.3 pp | Dec 2023 −1.5 pp | Mar 2024 −1.6 pp | Jun 2024 −3.6 pp | Sep 2024 −9.7 pp | Dec 2024 −9.5 pp | Mar 2025 −9.4 pp | Jun 2025 −7.0 pp | Sep 2025 −0.6 pp | Dec 2025 +0.4 pp | Mar 2026 +1.0 pp | Jun 2026 — - STYLEBAAZA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 +11.9 pp | Jun 2024 — | Sep 2024 — | Dec 2024 +1.4 pp | Mar 2025 −2.3 pp | Jun 2025 −1.1 pp | Sep 2025 +3.7 pp | Dec 2025 +7.1 pp | Mar 2026 +1.5 pp | Jun 2026 — - SPAL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +1.7 pp | Dec 2022 — | Mar 2023 −1.2 pp | Jun 2023 — | Sep 2023 −2.3 pp | Dec 2023 — | Mar 2024 +1.1 pp | Jun 2024 −0.1 pp | Sep 2024 +0.2 pp | Dec 2024 −0.2 pp | Mar 2025 −0.4 pp | Jun 2025 +3.0 pp | Sep 2025 +3.5 pp | Dec 2025 +3.6 pp | Mar 2026 +0.9 pp | Jun 2026 — - CANTABIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +11.4 pp | Dec 2022 — | Mar 2023 +6.6 pp | Jun 2023 — | Sep 2023 −1.7 pp | Dec 2023 — | Mar 2024 −7.7 pp | Jun 2024 — | Sep 2024 −6.3 pp | Dec 2024 −2.0 pp | Mar 2025 +0.3 pp | Jun 2025 +0.1 pp | Sep 2025 +0.7 pp | Dec 2025 0.0 pp | Mar 2026 +0.3 pp | Jun 2026 — - SBC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +13.5 pp | Dec 2022 — | Mar 2023 +1.4 pp | Jun 2023 — | Sep 2023 −3.2 pp | Dec 2023 — | Mar 2024 −0.9 pp | Jun 2024 — | Sep 2024 −4.5 pp | Dec 2024 −4.6 pp | Mar 2025 −2.3 pp | Jun 2025 −5.0 pp | Sep 2025 +7.1 pp | Dec 2025 +8.8 pp | Mar 2026 +9.3 pp | Jun 2026 — - GOCOLORS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 +7.5 pp | Jun 2023 — | Sep 2023 −1.7 pp | Dec 2023 — | Mar 2024 −2.5 pp | Jun 2024 — | Sep 2024 −2.2 pp | Dec 2024 −2.3 pp | Mar 2025 0.0 pp | Jun 2025 −1.8 pp | Sep 2025 −0.8 pp | Dec 2025 −3.8 pp | Mar 2026 −4.4 pp | Jun 2026 — - KALAMANDIR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 −13.8 pp | Jun 2024 — | Sep 2024 −3.3 pp | Dec 2024 −0.1 pp | Mar 2025 −1.3 pp | Jun 2025 −0.8 pp | Sep 2025 +3.8 pp | Dec 2025 +1.0 pp | Mar 2026 +1.1 pp | Jun 2026 −2.0 pp - IRISDOREME: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −3.9 pp | Dec 2022 — | Mar 2023 −6.0 pp | Jun 2023 — | Sep 2023 −3.0 pp | Dec 2023 — | Mar 2024 +3.5 pp | Jun 2024 — | Sep 2024 −1.0 pp | Dec 2024 −3.1 pp | Mar 2025 −2.7 pp | Jun 2025 −2.6 pp | Sep 2025 −7.7 pp | Dec 2025 −6.5 pp | Mar 2026 −7.3 pp | Jun 2026 — - MONTECARLO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +1.8 pp | Dec 2022 — | Mar 2023 +0.3 pp | Jun 2023 — | Sep 2023 −4.0 pp | Dec 2023 — | Mar 2024 −9.3 pp | Jun 2024 — | Sep 2024 −6.9 pp | Dec 2024 −3.2 pp | Mar 2025 +2.5 pp | Jun 2025 +3.2 pp | Sep 2025 +3.6 pp | Dec 2025 +2.6 pp | Mar 2026 +2.1 pp | Jun 2026 — - KARNIKA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 +2.7 pp | Dec 2024 +10.8 pp | Mar 2025 +2.6 pp | Jun 2025 — | Sep 2025 +0.6 pp | Dec 2025 +6.3 pp | Mar 2026 +15.6 pp | Jun 2026 — ## Valuation Against Growth & Quality What the numbers say: Kewal Kiran Clothing Ltd has the lowest comparable PEG at 0.59×, 23.4% below Raymond Lifestyle Ltd. Only 10 of 26 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree. Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy. This conclusion weakens if: The next two comparable reports reverse the current p/e signal. Evidence: Kewal Kiran Clothing Ltd · 0.59× | 23.4% versus #2 · Raymond Lifestyle Ltd | 0/8 recent comparable periods | 10/26 companies · 38 observations Definition: PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing. ### PEG — lowest PEG 1. Kewal Kiran Clothing Ltd (KKCL): 0.6 2. Raymond Lifestyle Ltd (RAYMONDLSL): 0.8 3. Aditya Birla Lifestyle Brands Ltd (ABLBL): 1.4 4. Arvind Fashions Ltd (ARVINDFASN): 2.0 5. V-Mart Retail Ltd (VMART): 2.5 ### P/E — lowest P/E 1. Sai Silks (Kalamandir) Ltd (KALAMANDIR): 9.8 2. Monte Carlo Fashions Ltd (MONTECARLO): 10.0 3. Credo Brands Marketing Ltd (MUFTI): 11.5 4. Bella Casa Fashion & Retail Ltd (BELLACASA): 16.6 — older report 5. Cantabil Retail India Ltd (CANTABIL): 20.4 ### 20-quarter PEG history - TRENT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 4.9 | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 2.5 | Sep 2025 — | Dec 2025 — | Mar 2026 6.6 | Jun 2026 5.2 - VMM: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 3.9 | Mar 2025 — | Jun 2025 4.0 | Sep 2025 2.1 | Dec 2025 5.4 | Mar 2026 — | Jun 2026 — - MANYAVAR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 3.1 | Dec 2022 4.6 | Mar 2023 — | Jun 2023 — | Sep 2023 5.7 | Dec 2023 15.6 | Mar 2024 9.6 | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — - ABLBL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 1.4 | Jun 2026 — - VMART: Sep 2021 — | Dec 2021 60.1 | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 2.5 | Mar 2026 — | Jun 2026 — - ARVINDFASN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 6.8 | Mar 2023 — | Jun 2023 — | Sep 2023 9.7 | Dec 2023 10.2 | Mar 2024 — | Jun 2024 2.0 | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — - GOKEX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 0.5 | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 1.4 | Dec 2025 5.0 | Mar 2026 — | Jun 2026 — - KKCL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 1.1 | Mar 2023 — | Jun 2023 0.8 | Sep 2023 0.9 | Dec 2023 1.4 | Mar 2024 1.5 | Jun 2024 0.8 | Sep 2024 2.5 | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 0.6 | Mar 2026 — | Jun 2026 — - SPAL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 2.0 | Sep 2024 0.9 | Dec 2024 2.4 | Mar 2025 1.4 | Jun 2025 4.1 | Sep 2025 — | Dec 2025 — | Mar 2026 0.7 | Jun 2026 4.3 ### 20-quarter P/E history - TRENT: Sep 2021 528.5 | Dec 2021 473.3 | Mar 2022 287.0 | Jun 2022 346.0 | Sep 2022 135.2 | Dec 2022 128.5 | Mar 2023 125.0 | Jun 2023 180.7 | Sep 2023 151.1 | Dec 2023 172.0 | Mar 2024 167.3 | Jun 2024 213.0 | Sep 2024 220.3 | Dec 2024 184.9 | Mar 2025 126.9 | Jun 2025 147.8 | Sep 2025 105.0 | Dec 2025 93.9 | Mar 2026 72.9 | Jun 2026 99.3 - VMM: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 105.1 | Mar 2025 103.2 | Jun 2025 133.3 | Sep 2025 95.3 | Dec 2025 85.2 | Mar 2026 62.9 | Jun 2026 64.7 - MANYAVAR: Sep 2021 — | Dec 2021 — | Mar 2022 90.6 | Jun 2022 95.8 | Sep 2022 93.7 | Dec 2022 85.2 | Mar 2023 68.6 | Jun 2023 71.1 | Sep 2023 78.2 | Dec 2023 77.9 | Mar 2024 55.4 | Jun 2024 61.6 | Sep 2024 85.2 | Dec 2024 75.4 | Mar 2025 46.7 | Jun 2025 50.3 | Sep 2025 43.2 | Dec 2025 36.5 | Mar 2026 23.5 | Jun 2026 26.7 - PGIL: Sep 2021 22.0 | Dec 2021 22.2 | Mar 2022 17.8 | Jun 2022 13.7 | Sep 2022 9.8 | Dec 2022 8.5 | Mar 2023 7.2 | Jun 2023 10.5 | Sep 2023 15.3 | Dec 2023 17.7 | Mar 2024 14.9 | Jun 2024 18.3 | Sep 2024 20.1 | Dec 2024 29.6 | Mar 2025 27.7 | Jun 2025 37.5 | Sep 2025 24.7 | Dec 2025 30.7 | Mar 2026 24.6 | Jun 2026 34.2 - ABLBL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 299.7 | Sep 2025 111.0 | Dec 2025 100.5 | Mar 2026 63.0 | Jun 2026 56.3 - V2RETAIL: Sep 2021 — | Dec 2021 -44.8 | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 -24.3 | Mar 2023 — | Jun 2023 -121.6 | Sep 2023 — | Dec 2023 460.8 | Mar 2024 89.8 | Jun 2024 96.5 | Sep 2024 117.4 | Dec 2024 135.6 | Mar 2025 85.9 | Jun 2025 85.7 | Sep 2025 81.3 | Dec 2025 82.9 | Mar 2026 54.0 | Jun 2026 56.1 - ABFRL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 34.5 | Dec 2022 26.0 | Mar 2023 36.7 | Jun 2023 32.7 | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — - VMART: Sep 2021 — | Dec 2021 577.0 | Mar 2022 527.3 | Jun 2022 425.1 | Sep 2022 91.4 | Dec 2022 88.3 | Mar 2023 161.4 | Jun 2023 159.9 | Sep 2023 — | Dec 2023 -41.8 | Mar 2024 — | Jun 2024 -92.2 | Sep 2024 — | Dec 2024 -668.3 | Mar 2025 125.9 | Jun 2025 214.7 | Sep 2025 108.1 | Dec 2025 58.1 | Mar 2026 33.0 | Jun 2026 48.4 - ARVINDFASN: Sep 2021 — | Dec 2021 -9.6 | Mar 2022 -14.1 | Jun 2022 — | Sep 2022 173.8 | Dec 2022 185.0 | Mar 2023 131.9 | Jun 2023 119.6 | Sep 2023 183.3 | Dec 2023 185.6 | Mar 2024 121.2 | Jun 2024 110.4 | Sep 2024 99.1 | Dec 2024 80.2 | Mar 2025 59.9 | Jun 2025 75.2 | Sep 2025 -428.3 | Dec 2025 -380.1 | Mar 2026 44.0 | Jun 2026 46.7 - GOKEX: Sep 2021 29.3 | Dec 2021 29.1 | Mar 2022 27.6 | Jun 2022 16.6 | Sep 2022 12.2 | Dec 2022 12.7 | Mar 2023 11.8 | Jun 2023 17.4 | Sep 2023 28.5 | Dec 2023 34.8 | Mar 2024 32.0 | Jun 2024 44.2 | Sep 2024 49.6 | Dec 2024 56.0 | Mar 2025 37.0 | Jun 2025 39.9 | Sep 2025 30.7 | Dec 2025 36.8 | Mar 2026 36.5 | Jun 2026 62.5 - RAYMONDLSL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 34.6 | Dec 2024 40.2 | Mar 2025 — | Jun 2025 114.5 | Sep 2025 80.2 | Dec 2025 77.4 | Mar 2026 48.6 | Jun 2026 44.0 - LUXIND: Sep 2021 32.0 | Dec 2021 30.5 | Mar 2022 18.0 | Jun 2022 15.4 | Sep 2022 16.2 | Dec 2022 18.4 | Mar 2023 18.9 | Jun 2023 31.9 | Sep 2023 41.5 | Dec 2023 37.9 | Mar 2024 30.7 | Jun 2024 32.9 | Sep 2024 41.9 | Dec 2024 36.2 | Mar 2025 23.9 | Jun 2025 26.4 | Sep 2025 25.4 | Dec 2025 26.3 | Mar 2026 23.5 | Jun 2026 33.8 - KKCL: Sep 2021 29.8 | Dec 2021 26.3 | Mar 2022 19.1 | Jun 2022 18.8 | Sep 2022 26.6 | Dec 2022 29.7 | Mar 2023 22.9 | Jun 2023 29.6 | Sep 2023 33.4 | Dec 2023 33.3 | Mar 2024 27.8 | Jun 2024 29.1 | Sep 2024 28.3 | Dec 2024 22.7 | Mar 2025 18.5 | Jun 2025 21.4 | Sep 2025 22.5 | Dec 2025 22.9 | Mar 2026 19.0 | Jun 2026 21.9 - STYLEBAAZA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 91.6 | Dec 2024 65.0 | Mar 2025 70.0 | Jun 2025 85.0 | Sep 2025 158.0 | Dec 2025 56.3 | Mar 2026 83.8 | Jun 2026 94.9 - KITEX: Sep 2021 18.1 | Dec 2021 18.5 | Mar 2022 18.6 | Jun 2022 11.6 | Sep 2022 9.3 | Dec 2022 9.3 | Mar 2023 9.3 | Jun 2023 21.8 | Sep 2023 48.1 | Dec 2023 73.6 | Mar 2024 30.6 | Jun 2024 24.7 | Sep 2024 43.1 | Dec 2024 46.9 | Mar 2025 28.6 | Jun 2025 40.4 | Sep 2025 27.5 | Dec 2025 26.4 | Mar 2026 21.9 | Jun 2026 23.4 - SPAL: Sep 2021 14.3 | Dec 2021 17.1 | Mar 2022 13.4 | Jun 2022 11.0 | Sep 2022 11.1 | Dec 2022 8.5 | Mar 2023 9.5 | Jun 2023 14.3 | Sep 2023 17.8 | Dec 2023 19.7 | Mar 2024 17.8 | Jun 2024 20.4 | Sep 2024 27.0 | Dec 2024 27.5 | Mar 2025 18.4 | Jun 2025 22.5 | Sep 2025 18.2 | Dec 2025 15.8 | Mar 2026 15.5 | Jun 2026 27.4 - CANTABIL: Sep 2021 64.9 | Dec 2021 55.5 | Mar 2022 39.9 | Jun 2022 44.1 | Sep 2022 40.5 | Dec 2022 35.2 | Mar 2023 23.2 | Jun 2023 25.0 | Sep 2023 27.9 | Dec 2023 30.9 | Mar 2024 28.1 | Jun 2024 33.4 | Sep 2024 33.5 | Dec 2024 39.5 | Mar 2025 32.4 | Jun 2025 29.7 | Sep 2025 27.0 | Dec 2025 27.2 | Mar 2026 21.3 | Jun 2026 20.9 - SBC: Sep 2021 27.5 | Dec 2021 83.0 | Mar 2022 69.8 | Jun 2022 34.3 | Sep 2022 19.8 | Dec 2022 37.4 | Mar 2023 51.2 | Jun 2023 42.9 | Sep 2023 44.9 | Dec 2023 53.4 | Mar 2024 51.6 | Jun 2024 68.8 | Sep 2024 77.9 | Dec 2024 52.1 | Mar 2025 34.0 | Jun 2025 38.0 | Sep 2025 65.7 | Dec 2025 63.0 | Mar 2026 50.8 | Jun 2026 78.4 - GOCOLORS: Sep 2021 — | Dec 2021 190.0 | Mar 2022 153.5 | Jun 2022 67.9 | Sep 2022 75.8 | Dec 2022 81.1 | Mar 2023 67.6 | Jun 2023 74.2 | Sep 2023 81.0 | Dec 2023 79.2 | Mar 2024 77.0 | Jun 2024 66.3 | Sep 2024 86.3 | Dec 2024 59.5 | Mar 2025 42.0 | Jun 2025 50.2 | Sep 2025 42.6 | Dec 2025 28.9 | Mar 2026 19.5 | Jun 2026 35.9 - KALAMANDIR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 32.8 | Dec 2023 35.6 | Mar 2024 30.6 | Jun 2024 27.4 | Sep 2024 31.5 | Dec 2024 29.6 | Mar 2025 20.1 | Jun 2025 21.5 | Sep 2025 27.3 | Dec 2025 27.7 | Mar 2026 17.1 | Jun 2026 12.0 - IRISDOREME: Sep 2021 34.5 | Dec 2021 39.2 | Mar 2022 37.8 | Jun 2022 37.5 | Sep 2022 44.9 | Dec 2022 45.8 | Mar 2023 67.4 | Jun 2023 97.0 | Sep 2023 85.4 | Dec 2023 76.1 | Mar 2024 60.9 | Jun 2024 50.8 | Sep 2024 56.5 | Dec 2024 47.5 | Mar 2025 34.1 | Jun 2025 45.7 | Sep 2025 45.6 | Dec 2025 53.5 | Mar 2026 37.1 | Jun 2026 46.6 - MONTECARLO: Sep 2021 7.5 | Dec 2021 12.8 | Mar 2022 8.8 | Jun 2022 11.2 | Sep 2022 13.7 | Dec 2022 12.4 | Mar 2023 10.3 | Jun 2023 13.0 | Sep 2023 13.2 | Dec 2023 13.6 | Mar 2024 13.2 | Jun 2024 20.7 | Sep 2024 28.2 | Dec 2024 31.1 | Mar 2025 14.8 | Jun 2025 15.5 | Sep 2025 17.6 | Dec 2025 16.7 | Mar 2026 10.5 | Jun 2026 10.3 - KARNIKA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 21.4 | Mar 2024 37.0 | Jun 2024 23.8 | Sep 2024 21.3 | Dec 2024 27.4 | Mar 2025 44.2 | Jun 2025 42.5 | Sep 2025 46.3 | Dec 2025 26.8 | Mar 2026 20.3 | Jun 2026 28.4 - MUFTI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 1.2 | Mar 2024 2.2 | Jun 2024 17.8 | Sep 2024 21.5 | Dec 2024 19.3 | Mar 2025 13.2 | Jun 2025 15.8 | Sep 2025 10.1 | Dec 2025 9.4 | Mar 2026 6.5 | Jun 2026 8.2 - THOMASCOTT: Sep 2021 9.1 | Dec 2021 12.2 | Mar 2022 11.6 | Jun 2022 23.0 | Sep 2022 20.2 | Dec 2022 14.8 | Mar 2023 111.8 | Jun 2023 14.2 | Sep 2023 23.9 | Dec 2023 31.1 | Mar 2024 24.9 | Jun 2024 24.3 | Sep 2024 21.6 | Dec 2024 44.9 | Mar 2025 29.7 | Jun 2025 41.4 | Sep 2025 32.2 | Dec 2025 29.0 | Mar 2026 — | Jun 2026 — - BELLACASA: Sep 2021 24.0 | Dec 2021 18.7 | Mar 2022 19.2 | Jun 2022 14.6 | Sep 2022 15.4 | Dec 2022 19.0 | Mar 2023 17.0 | Jun 2023 21.1 | Sep 2023 23.7 | Dec 2023 27.1 | Mar 2024 43.5 | Jun 2024 42.4 | Sep 2024 58.2 | Dec 2024 53.0 | Mar 2025 37.5 | Jun 2025 39.1 | Sep 2025 31.2 | Dec 2025 26.1 | Mar 2026 — | Jun 2026 — ## What can make this comparison misleading? - A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason. - A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment. - The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed. - An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion. - 2 companies have older fundamental reporting dates than the sector’s freshest reporters; their ranks carry a stale marker. - 7 companies draw at least one figure from a second data feed with too little overlapping history to cross-check against the primary source; they are marked unverified wherever those figures appear. - 4 companies are missing from the second-feed metrics by decision, not by absence: the two sources disagree, so nothing from the second is drawn. Read those rows as narrower evidence, never as a weaker business. ## Every company - Trent Ltd (TRENT) — market value ₹1.6 L Cr; latest fundamentals Jun 2026 - Vishal Mega Mart Ltd (VMM) — market value ₹49.3K Cr; latest fundamentals Jun 2026 - Vedant Fashions Ltd (MANYAVAR) — market value ₹12.8K Cr; latest fundamentals Jun 2026 - Pearl Global Industries Ltd (PGIL) — market value ₹11.4K Cr; latest fundamentals Jun 2026; second-feed figures WITHHELD - Aditya Birla Lifestyle Brands Ltd (ABLBL) — market value ₹10.8K Cr; latest fundamentals Jun 2026 - V2 Retail Ltd (V2RETAIL) — market value ₹7.9K Cr; latest fundamentals Jun 2026 - Aditya Birla Fashion & Retail Ltd (ABFRL) — market value ₹6.8K Cr; latest fundamentals Jun 2026; second-feed figures WITHHELD - V-Mart Retail Ltd (VMART) — market value ₹6.4K Cr; latest fundamentals Jun 2026 - Arvind Fashions Ltd (ARVINDFASN) — market value ₹6.0K Cr; latest fundamentals Jun 2026 - Gokaldas Exports Ltd (GOKEX) — market value ₹5.7K Cr; latest fundamentals Jun 2026 - Raymond Lifestyle Ltd (RAYMONDLSL) — market value ₹4.5K Cr; latest fundamentals Jun 2026 - Lux Industries Ltd (LUXIND) — market value ₹3.6K Cr; latest fundamentals Jun 2026; second-feed figures WITHHELD - Kewal Kiran Clothing Ltd (KKCL) — market value ₹3.2K Cr; latest fundamentals Jun 2026 - Baazar Style Retail Ltd (STYLEBAAZA) — market value ₹2.8K Cr; latest fundamentals Jun 2026 - Kitex Garments Ltd (KITEX) — market value ₹2.7K Cr; latest fundamentals Jun 2026; second-feed figures WITHHELD - S P Apparels Ltd (SPAL) — market value ₹2.4K Cr; latest fundamentals Jun 2026 - Cantabil Retail India Ltd (CANTABIL) — market value ₹2.0K Cr; latest fundamentals Jun 2026; includes UNVERIFIED second-feed figures - SBC Exports Ltd (SBC) — market value ₹1.8K Cr; latest fundamentals Jun 2026; includes UNVERIFIED second-feed figures - Go Fashion (India) Ltd (GOCOLORS) — market value ₹1.7K Cr; latest fundamentals Jun 2026; includes UNVERIFIED second-feed figures - Sai Silks (Kalamandir) Ltd (KALAMANDIR) — market value ₹1.3K Cr; latest fundamentals Jun 2026; includes UNVERIFIED second-feed figures - Iris Clothings Ltd (IRISDOREME) — market value ₹1.1K Cr; latest fundamentals Jun 2026; includes UNVERIFIED second-feed figures - Monte Carlo Fashions Ltd (MONTECARLO) — market value ₹1.1K Cr; latest fundamentals Jun 2026; includes UNVERIFIED second-feed figures - Karnika Industries Ltd (KARNIKA) — market value ₹737 Cr; latest fundamentals Jun 2026; includes UNVERIFIED second-feed figures - Credo Brands Marketing Ltd (MUFTI) — market value ₹511 Cr; latest fundamentals Jun 2026 - Thomas Scott India Ltd (THOMASCOTT) — market value ₹369 Cr; latest fundamentals Dec 2025 - Bella Casa Fashion & Retail Ltd (BELLACASA) — market value ₹330 Cr; latest fundamentals Dec 2025 ## Source standing of each company Cross-checked: 12. Unverified: 10. Withheld: 4. Graded companies: 26. 7 of 26 companies draw at least one figure from a second data feed that could not be cross-checked against the primary source, because the two do not share enough reported history to compare. Those figures are marked unverified wherever they appear. 4 of 26 companies have a second data feed that is known to disagree with the primary source, so nothing from it is drawn: Pearl Global Industries Ltd (PGIL) — its two data sources disagree by up to 16% on reported income across 14 comparable periods, so its derived ratios are withheld; Aditya Birla Fashion & Retail Ltd (ABFRL) — its two data sources disagree by up to 150% on reported income across 13 comparable periods, so its derived ratios are withheld; Lux Industries Ltd (LUXIND) — its two data sources disagree by up to 7.9% on reported income across 14 comparable periods, so its derived ratios are withheld; Kitex Garments Ltd (KITEX) — its two data sources disagree by up to 67% on reported income across 14 comparable periods, so its derived ratios are withheld. - WITHHELD | PGIL | Pearl Global Industries Ltd | diff_gt_2pct | disagreement up to 16.18% over 14 comparable periods - WITHHELD | ABFRL | Aditya Birla Fashion & Retail Ltd | diff_gt_2pct | disagreement up to 150.01% over 13 comparable periods - WITHHELD | LUXIND | Lux Industries Ltd | diff_gt_2pct | disagreement up to 7.87% over 14 comparable periods - WITHHELD | KITEX | Kitex Garments Ltd | diff_gt_2pct | disagreement up to 67.05% over 14 comparable periods - UNVERIFIED | CANTABIL | Cantabil Retail India Ltd | too little overlapping reported history to cross-check the second feed - UNVERIFIED | SBC | SBC Exports Ltd | too little overlapping reported history to cross-check the second feed - UNVERIFIED | GOCOLORS | Go Fashion (India) Ltd | too little overlapping reported history to cross-check the second feed - UNVERIFIED | KALAMANDIR | Sai Silks (Kalamandir) Ltd | too little overlapping reported history to cross-check the second feed - UNVERIFIED | IRISDOREME | Iris Clothings Ltd | too little overlapping reported history to cross-check the second feed - UNVERIFIED | MONTECARLO | Monte Carlo Fashions Ltd | too little overlapping reported history to cross-check the second feed - UNVERIFIED | KARNIKA | Karnika Industries Ltd | too little overlapping reported history to cross-check the second feed ## Methodology and freshness Fundamentals through Jun 2026; prices through 2026-08-14. Up to 20 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable. ## Frequently asked questions ### Is the Textiles - Readymade Apparel sector outperforming NIFTY 500? Textiles - Readymade Apparel has underperformed NIFTY 500 by 2.8% over 52 weeks and 2.3% over 13 weeks. 10 of 26 covered companies beat NIFTY on Mansfield relative strength, while 11 of 25 beat the sector itself. ### Which Textiles - Readymade Apparel company is largest by revenue? Trent Ltd leads with revenue of ₹20,946 crore, based on 25 of 26 comparable companies through Jun 2026. ### Which Textiles - Readymade Apparel company is growing fastest? V2 Retail Ltd has the fastest current revenue growth at 63.3%, across 25 of 26 comparable companies. ### Which Textiles - Readymade Apparel company has the strongest 4-Factor Sector Score? Kewal Kiran Clothing Ltd ranks first at 69.4/100 with 100% evidence confidence. The score prioritizes research; it is not a buy recommendation. ### Which Textiles - Readymade Apparel company has the lowest comparable PEG? Kewal Kiran Clothing Ltd has the lowest comparable PEG at 0.59, among 10 of 26 companies whose earnings and growth are steady enough for the ratio to mean anything. ### How much history does this Textiles - Readymade Apparel comparison include? The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated. ### How is the 4-Factor Sector Score calculated? The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral. ### Is there a Nifty Textiles - Readymade Apparel index? NSE India maintains Nifty indices for several broad sector categories — Nifty Bank, Nifty IT, Nifty Pharma and others — but not for every sub-sector grouping on this site. Whether or not an official Nifty index covers Textiles - Readymade Apparel, this page builds its own equal-weight basket of 26 listed Textiles - Readymade Apparel companies — one company, one vote, regardless of market value — so no single large company dominates the reading. Figures are as of Jun 2026. ### Which are the best Textiles - Readymade Apparel stocks in India? Ranked by this page's four-factor score, Kewal Kiran Clothing Ltd places first among 26 listed Textiles - Readymade Apparel companies, followed by SBC Exports Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser. ### How many Textiles - Readymade Apparel stocks are listed in India? This comparison covers 26 listed Textiles - Readymade Apparel companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026. ### Which Textiles - Readymade Apparel company is the biggest? Trent Ltd is the largest, with trailing-twelve-month revenue of ₹20,946 crore, ahead of Vishal Mega Mart Ltd at ₹13,492 crore. That covers 25 of 26 companies with comparable reporting through Jun 2026. ### Which Textiles - Readymade Apparel company has the best profit margins? Vedant Fashions Ltd has the highest operating margin at 43%, from 26 of 26 comparable companies. SBC Exports Ltd shows the biggest recent improvement, at +3.4 percentage points. A high margin matters most when it is holding or rising, not when it is peaking. ### Which Textiles - Readymade Apparel company makes the most profit? Trent Ltd earns the most, at ₹1,814 crore of trailing-twelve-month net profit, from 25 of 26 comparable companies. Aditya Birla Lifestyle Brands Ltd has the fastest profit growth at the ≥100% scoring cap, though growth off a small or recovering profit base overstates how much has actually changed. ### Which Textiles - Readymade Apparel company earns the highest return on capital? Karnika Industries Ltd leads on return on capital employed at 51.2%, across 26 of 26 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year. ### Which Textiles - Readymade Apparel stock is the cheapest? On PEG — where a LOWER number is cheaper — Kewal Kiran Clothing Ltd screens cheapest at 0.59×. Only 10 of 26 companies have earnings and growth steady enough for the ratio to mean anything, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own. ### Is the Textiles - Readymade Apparel sector beating the market? Textiles - Readymade Apparel has underperformed NIFTY 500 by 2.8% over the last 52 weeks and 2.3% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 10 of 26 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it. ### Which Textiles - Readymade Apparel stock has the strongest price momentum? Iris Clothings Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all. ### Which Textiles - Readymade Apparel company scores highest for research priority? Kewal Kiran Clothing Ltd scores 69.4 out of 100 with 100% evidence confidence, from 18.9 points on growth and earnings, 18.9 on capital efficiency, 16.6 on valuation and 15 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research. ### How many Textiles - Readymade Apparel companies does this comparison cover, and over what period? It compares 26 listed companies over up to 20 reported quarters of fundamentals, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data. ### What is the total market cap of the Textiles - Readymade Apparel sector? The 26 Textiles - Readymade Apparel companies on this page carry ₹3,06,121 crore of combined market value. Trent Ltd is the largest at ₹1,58,797 crore, about 52% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-18. ### What is the Textiles - Readymade Apparel sector's P/E ratio? The median price-to-earnings ratio across the 26 Textiles - Readymade Apparel companies on this page is 33.6×, measured on the 24 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-08-18. ### How is the Textiles - Readymade Apparel sector performing? 10 of the 26 covered Textiles - Readymade Apparel companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 2.8% behind NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-18. ### Why are some values on this page blank? A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad. ### Is this investment advice? No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.