1. FY27 growth - 20% to 25%, could be around 50% On track - At the Q1 FY27 call, management stated "I can see 20% to 25% growth" in top line for FY27, but "as customer confidence grows, it could be around 50%", with PAT "increasing and will continue to increase" - hedged wording, no formal target; the MD also stated an internal target of "more 50%" for FY27 and FY28 growth. Q1 FY27 revenue was ₹32.56 crore, +52.1% YoY, at the upper end of the guided range; no full-year FY27 outcome yet.
2. No fundraising this year - until December 2026 On track - At the Q1 FY27 call, management stated "I have no plan to raise any funds this year… no plan to raise funds until December", saying the company has sufficient funds for expansion and promoters don't want dilution - firm wording. No fundraising has been disclosed in our record through Q1 FY27 (June 2026); prior preferential issues were completed in FY25 and FY26.
3. Main Board migration - three-year SME-board period completes October 2026 Pending - At the Q1 FY27 call, management stated "thinking of moving ourselves to the Main Board" as the three-year SME-board period completes in October - a soft, conditional commitment with no firm date - and reiterated "planning and looking at all compliances for a potential move to the mainboard". Three years on the SME board complete in October 2026; no migration filing or completion was disclosed as of 3 September 2026.
4. 10,000 orders per day - current year target On track - At the Q1 FY27 automated transcript, management stated a current year target to reach 10,000 orders per day. Q1 FY27 average orders delivered were 460,327 in the quarter, implying approximately 5,115 per day, against an FY26 average of approximately 3,781 per day - roughly half the target with the growth trajectory active.
5. Preferential issue (warrants) - ₹33.52 cr, utilisation within 12 months Partial - In May 2024 the board proposed raising up to ₹33,51,80,800 via preferential issue of up to 26,18,600 warrants convertible at ₹128 per warrant, proceeds earmarked Working Capital ₹18.44 cr (55%), Marketing ₹6.7 cr (20%), Warehouse Development ₹6.7 cr (20%), General Corporate Purpose ₹1.68 cr (5%), utilisation tentatively within 12 months. In FY25, Working Capital saw ₹828.93 lacs utilised and Warehouse Development, New Store Development, and Marketing and Technology Experiment each ₹362.04 lacs allocated with ₹0 utilised; by 31 March 2026, Working Capital ₹2,366 lacs and Warehouse Development ₹860.36 lacs were fully utilised, Marketing ₹297.71 lacs utilised, and General Corporate Purposes ₹215.10 lacs fully utilised.
6. Preferential issue (equity) - ₹9.50 cr, utilisation within 12 months Partial - In May 2024 the board proposed raising ₹9,50,01,600 via preferential issue of 7,42,200 equity shares at ₹128 per share, proceeds earmarked Working Capital ₹5.23 cr (55%), Marketing ₹1.9 cr (20%), Warehouse Development ₹1.9 cr (20%), General Corporate Purpose ₹0.48 cr (5%), utilisation tentatively within 12 months. In FY25, Working Capital ₹1,277.78 lacs, Marketing ₹74.42 lacs, Warehouse Development ₹817.34 lacs and General Corporate Purposes ₹84 lacs were utilised; by 31 March 2026, Working Capital ₹2,366 lacs and Warehouse Development ₹860.36 lacs were fully utilised, Marketing ₹297.71 lacs utilised and General Corporate Purposes ₹215.10 lacs fully utilised.
7. Franchise offering - investment ₹55-70 lakh, area 400-600 sq ft, ROI 70-80% Pending - At the Q4 FY25 PPT, management disclosed franchise offering targets of investment ₹55-70 lakhs, area 400-600 sq ft and ROI 70-80%, with recruitment underway via cinema-hall advertising and newspaper publications; a Q4 FY25 announcement specified North Indian cities, retail space of approximately 400 sq ft, and marketing via the Cinépolis India partnership across 50 screens plus Times of India promotions. No franchise store openings or franchise partner signings have been disclosed through Q1 FY27.
8. FY26 growth - exceeding 50% Delivered - At the Q4 FY25 PPT, management committed to achieving growth exceeding 50% in the year ahead (FY26). FY26 revenue came in at ₹133.69 crore, +126.2% YoY - the target exceeded by a wide margin.
9. Geographic expansion beyond Delhi - next 1 to 2 years Delivered - At the Q4 FY24 PPT, management stated plans to "expand presence beyond the Delhi markets in next 1 to 2 years", reiterated at Q4 FY25. Operations expanded to Jaipur (2-hour delivery) and Australia, and as of Q1 FY27 operations span Delhi NCR, Jaipur and Australia, with the Q4 FY26 roadmap stating "expanding beyond Delhi NCR and Jaipur to more cities".
10. WomanCart Luxe Store - expand exclusive offerings, no numeric target Partial - At the Q4 FY24 PPT, management stated "WomanCart Luxe Store aims to expand its exclusive offerings and elevate the luxury shopping experience", reiterated in Q4 FY25, the Q4 FY26 roadmap and the Q1 FY27 PPT. The Luxe store count grew from 1 in FY24 to 2 in FY25 with Kohat Enclave added, and FY26 shows 2 LUXE stores with average area 900 sq ft; no further openings were disclosed in FY26 or Q1 FY27.
11. 2-hour delivery expansion - quick-commerce to more cities, no numeric target On track - At the Q4 FY24 PPT, management stated plans to launch "super-fast delivery in Chandigarh, followed by expansion plans nationwide"; this was revised to "other cities" at Q4 FY25, "expanding beyond Delhi NCR and Jaipur to more cities for quick-commerce" at Q4 FY26, and "to different cities" - no timeline or city count - at the Q1 FY27 call. 2-hour delivery is operational across Delhi NCR and Jaipur as of Q1 FY27; no Chandigarh or additional-city launch has been disclosed.