1. Improved investor-presentation disclosures - brand, category, channel, volume Partial - At the Q2 FY26 call, Arvind Verma committed to improving disclosures on brand-wise revenue, men/women/kids verticals and volume growth "from next year onwards". Q4 FY26 and Q1 FY27 PPTs now show category, channel, brand mix and volume/ASP data (RedTape 95-97%); men/women/kids is not yet disclosed.
2. South and West India expansion - FY27 focus On track - At the Q4 FY26 call, management guided "We are now getting into South and West India", with the Q4 FY26 PPT stating particular South/West focus for FY27. Q1 FY27 new stores are smaller 800-1,500 sq ft formats as entry into South, East and West proceeds; a Forum Mall, Calcutta store opened.
3. Women's apparel investment push in FY27 Pending - At the Q4 FY26 call, management committed to pushing apparel further in FY27, calling it "the segment we are most actively investing for FY27". Q1 FY27 apparel revenue was ₹189.64 cr, 39% of mix, up from 34% in FY26; no women's-specific outcome disclosed.
4. Extend lifestyle portfolio into backpacks, luggage, fragrances and cosmetics On track - The Q4 FY26 PPT and FY26 Annual Report stated intent to extend into backpacks, luggage, fragrances and cosmetics. Eyewear and hard luggage launched in FY26; perfumes performing well; sunglasses in \~80% of stores but hard luggage in only \~10-15%; body care still in planning.
5. No acquisitions in pipeline - status commitment Delivered - At the Q2 FY26 call, management said there is no acquisition/inorganic strategy, strength lying in own brands. In April 2026, RedTape acquired rights to the Sprandi brand for India and neighbouring countries - a brand-rights deal, not a company acquisition; no other acquisition disclosed.
6. Premium sub-brands to lift ASPs from \~12-13% to 18%+ Delivered - The FY26 Annual Record recorded launching premium sub-brands (Ozark, premium leather) to expand ASPs from \~12-13% to 18%+. The same report states premium mix is lifting ASPs to approximately 18%; Ozark launched at ₹2,100-2,500 with positive response and is being scaled.
7. Sprandi brand launch in India - by end September 2026 Pending - At the Q1 FY27 call, management said Sprandi would launch in India through online and retail channels by end of September 2026, after rights were acquired in April 2026. As of the Q1 FY27 PPT (10 Aug 2026), launch was "proposed to be launched in September end"; no post-launch disclosure yet.
8. Inventory days down to 150 - near future On track - At the Q4 FY26 call, management targeted bringing inventory down to 150 days "in the near future", settling between 120 and 150 days. Q1 FY27: days stood at \~173, with a plan of Q2 seasonal build and Q3/Q4 reduction; no reduction beyond \~170-173 disclosed.
9. No MRP increase for next three to six months - through September 2026 Delivered - At the Q4 FY26 call, management said MRPs were covered for the next six months, with any volatility evaluated only post-September. Through Q1 FY27 no MRP increase is disclosed; ASP gains came from product mix and the company chose not to pass on cost pressure.
10. Two more warehouses - on top of current seven Pending - At the Q4 FY26 call, management planned to open two more warehouses on top of the current seven. No new warehouse openings are disclosed in Q1 FY27 notes; FY26 saw one marketplace warehouse operationalised and 3,00,000 sq ft added at Unnao.
11. 200-250 new stores in FY27 - 500-1,500 sq ft, 25-35% COCO On track - At the Q4 FY26 call, management guided to "almost 200 to 250 stores" in FY27 of 500-1,500 sq ft, 25-35% COCO. Q1 FY27 added 33 stores, taking the network to 702; management aspires to 150 by end FY27 while maintaining the 200-250 ambition; no COCO/FOFO mix disclosed.
12. EBITDA margin to hover around 16-19% Delivered - At the Q4 FY26 call, CFO Vivek Agnihotri said EBITDA margins "always hovers around 16% to 18%, 19%". FY26 EBITDA margin was 19.0% and Q1 FY27 20.4%, at or above the range; Q1 FY27 guidance is \~20% for FY27.
13. Bond Street and Mode relaunch - to become 500-1,000 store brands Pending - At the Q2 FY26 call, management said the Bond Street and Mode relaunches were targeted to become brands in the "500 to 1000 retail scenario" range. Both launched in FY26 but contribute just 1% of revenue in FY26 and Q1 FY27; no store count for the brands disclosed.
14. Retail/online mix to shift to \~65%/35% - in FY27 On track - At the Q2 FY26 call, management said the then 70%/30% retail/online mix "may slightly shift" to about 65%-35% "in the coming year". Q1 FY27 mix was Retail EBO 74%, e-commerce \~22% - further from the target - attributed to avoiding marketplace discounting; management expects e-commerce back to \~30%.
15. Website sales to reach 20% of online business - by end FY27 Pending - At the Q2 FY26 call, management targeted website sales growing to 20% of the online business "by the end of next year" from 5%, with a digital/influencer team in place. No website-specific figure is disclosed in Q1 FY27; overall e-commerce fell to \~22% of revenue from \~30% in FY26.
16. 20% YoY revenue/bottom-line growth - every year over next 2-3 years On track - At the Q2 FY26 call, Arvind Verma said the company is "targeting 20% year-on-year" revenue/bottom-line growth over the next two-three years. FY26 revenue grew 19.6% to ₹2,415 cr with PAT up 32.4%; Q1 FY27 revenue grew 3.65% to ₹481 cr and PAT 15.23%.