1. D2C website orders - 400-500 orders/day scaling to 1,000 orders/day Pending - At the Q2 FY26 call, management guided the new D2C website would generate "at least 400 to 500 orders per day" and scale to "1,000 orders per day". By Q3 FY26, the website was getting "around 70 to 80 orders per day", and the latest revised deadline of reaching 1,000 orders/day by \~August-September 2026 has not yet been reached.
2. Retail contribution to total revenue - 60-65% in FY27 Pending - At the Q2 FY26 call, management guided that retail contribution to revenue will be "60% to 65%" for FY27. FY26 retail contribution stood at 40%, and the FY27 outcome has not yet been reported.
3. Mature store sales per square foot growth - 16-20% YoY Pending - At the Q2 FY26 call, management guided that mature stores would see year-on-year sales per square foot growth of "16% to 18%... maybe up to 20% also". Our record holds no disclosure of sales per square foot growth for mature stores to confirm or refute delivery.
4. Store footprint - double in FY27 (>200 stores by March 2027) Pending - At the Q4 FY26 call, management guided the store footprint will "double in this year" (FY27), implying more than 200 stores by March 2027. As of 30 April 2026, the company had 111 EBOs, and the FY27 deadline has not yet been reached.
5. Revenue doubling - double revenue YoY for FY27 and FY28 Pending - At the Q4 FY26 call, management guided that significant store additions are planned across FY26-27 to sustain growth visibility. FY26 revenue was ₹17,063.21 lakhs, and neither FY27 nor FY28 has been reported.
6. E-commerce contribution - 12-14% of top line in FY27 Pending - At the Q4 FY26 call, management guided they are "hopeful that overall e-commerce business will contribute at least 12 to 14% overall top line in this year" (FY27). FY27 has not yet been reported.
7. Reduction of distribution reliance - focus on depth over width over 1.5 years On track - At the Q4 FY26 call, management guided the company will be "focusing on depth instead of width" and reducing reliance on the distribution model over "one and a half years". FY26 distribution contribution declined to 38% from 71% in FY25, though the \~September 2027 horizon has not been reached.
8. Store count - 100 stores by \~August-September 2025 Partial - At the Q4 FY25 call, management guided the company would reach 100 stores "in another 2 to 3 months," by approximately August-September 2025, later revised to January 2026. The 100th store was inaugurated on 28th January 2026, and store count reached 111 by 30 April 2026, delivered approximately 5 months late relative to the original target.
9. Same-store sales growth - 25%+ in FY26 Pending - At the Q4 FY25 call, management guided that same-store sales growth for stores with 12 months of operation would be "25 plus" percent in FY26. Our record holds no FY26-end disclosure for same-store sales growth on the promised basis.
10. E-commerce contribution to total revenue - 18-20% in FY26 Missed - At the Q4 FY25 call, management guided that "around 18 to 20% will come from e-commerce" in FY26. FY26 channel-wise contribution shows online at 2%, falling dramatically short of the 18-20% target.
11. Retail contribution to total revenue - 45% in FY26 Missed - At the Q4 FY25 call, management guided retail contribution would reach "somewhere around 45%" in FY26, later revised upward to "around 50%" at the Q2 FY26 call and "approximately 50%" at the Q3 FY26 call. FY26 retail contribution came in at 40%, falling short of both the original 45% and the revised 50% target.