• Financial performance: Full-year sales growth reached the guided 15% following sequential quarterly improvement from 10% in Q1 to 20% in Q4, while maintaining gross margins around 58%, EBITDA margins near 30%, and PAT margins at 15%.
• Cost structure resilience: A largely variable cost model prevented significant cost pressures, allowing EBITDA and PAT to grow by 20% and 23% respectively.
• Geographic demand trends: Consumer demand remained consistent across metro and Tier 1–3 cities nationwide, with only minor, non-material fluctuations seen in the southern region.
• Store network expansion: The company added a record net 124 stores last year compared to 115 in FY23, maintaining a strict policy of day-one store profitability.
• Revenue growth outlook: Management expects new brand additions and sustained store additions to drive a medium-to-long-term topline growth of 15% to 18% CAGR.