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Vedant Fashions Limited (MANYAVAR) Fair Value & Analysis

Consumer Cyclical · IN · Market cap ₹99.0B

VF Vedant Fashions Limited MANYAVAR · NSE
Price₹541.85
Fair Value₹523.04
Upside-3.5%
Quality74/100
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Healthy Growth
Highly profitable · 26.2% net margin
generates free cash flow
1.93% dividend yield
Ranks above peers (8/13)
Wide moat 86/100
Evidence: High Range ₹345.38 – ₹665.12 Share as image

Fair value as of: Aug 16, 2026

From 26 valuation models · updated 2 days ago

Fair value updated Aug 16, 2026, revised from ₹290.58 to ₹523.04 (+80.0%) since Aug 8, 2026. Share price +35.7% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (₹345.38 to ₹665.12) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

₹1,433 ₹337.10 Fair Value ₹523.04 Feb 2022 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 16, 2026.

How to read this chart

54‑month range ₹337.10 – ₹1,433 · fair‑value band ₹345.38 – ₹665.12 · the ₹541.85 price screens above the ₹523.04 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 16, 2026.

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Analysis

Vedant Fashions Limited (MANYAVAR) currently trades at ₹541.85, while our model-based Fair Value estimate is ₹523.04, implying the stock looks roughly 3.5% fairly valued today. The Quality Score stands at 74/100 (solid quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Vedant Fashions Limited generated revenue of ₹14.4B at a net margin of 26.2%. Revenue grew 8.7% year over year. It earns a return on equity of 20.0%. Net debt stands at ₹4.5B. Fundamentals as of Aug 16, 2026

Our scenario range runs from ₹345.38 (bear case) to ₹665.12 (bull case); at ₹541.85, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 34% below its 52-week high and 65% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 27% fair-value upside, at -3%, MANYAVAR screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income ₹99.49 ₹126.01 ₹379.46 76
Growth DCF ₹247.01 ₹399.37 ₹641.51 72
Gordon GGM ₹73.45 ₹152.71 ₹242.26 70
All 26 models by family
DCF Models
FCF DCF ₹244.75 ₹400.21 ₹648.10 38
Owner Earnings ₹260.04 ₹425.22 ₹688.61 31
5Y Revenue Exit ₹114.91 ₹156.11 ₹205.29 39
5Y EBITDA Exit ₹221.76 ₹362.62 ₹529.72 41
5Y P/E Exit ₹235.03 ₹388.26 ₹553.19 38
10Y Revenue Exit ₹157.05 ₹207.43 ₹270.91 36
10Y EBITDA Exit ₹227.63 ₹353.37 ₹526.22 37
10Y P/E Exit ₹236.20 ₹371.49 ₹544.69 35
Earnings-Based
Graham-Dodd ₹105.10 ₹379.93 ₹512.29 54
Lynch FV ₹90.02 ₹128.59 ₹167.17 50
PEG = 1.0 ₹90.02 ₹128.59 ₹167.17 46
EPV ₹133.09 ₹155.19 ₹174.53 59
Dividend Discount
Gordon GGM ₹73.45 ₹152.71 ₹242.26 70
DDM Multi-Stage ₹73.45 ₹128.77 ₹160.27 61
Multiples
P/E Multiple ₹255.02 ₹340.03 ₹425.04 63
P/S Multiple ₹53.17 ₹70.89 ₹88.62 58
P/B Multiple ₹197.06 ₹262.75 ₹328.44 55
EV/EBIT ₹255.35 ₹340.31 ₹425.27 53
EV/EBITDA ₹233.19 ₹310.76 ₹388.34 54
EV/Revenue ₹50.08 ₹71.35 ₹92.62 43
Asset-Based
NCAV (Graham) ₹40.42 ₹54.17 ₹80.84 50
Growth DCF
Growth DCF ₹247.01 ₹399.37 ₹641.51 72
Rev-Margin DCF ₹114.91 ₹159.31 ₹213.74 67
Economic Profit
Residual Income ₹99.49 ₹126.01 ₹379.46 76
ROIC Compounder ₹145.38 ₹190.00 ₹246.53 67
Growth Earnings
Growth-Adj P/E ₹175.86 ₹251.23 ₹326.60 68

Widest divergence: DCF Models (₹362.62) versus Asset-Based (₹54.17). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) ₹14.4B
Revenue growth (YoY) +8.7%
Net margin 26.2%
Return on equity 20.0%
Free cash flow ₹5.0B FY2026
P/E ratio 35.0
More key figures
Operating margin 33.8%
EPS (TTM) ₹15.46
Dividend yield 1.9%
EPS growth (YoY) +13.1%
Net debt ₹4.5B FY2026

Figures from reported company fundamentals · as of Aug 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 74/100

Of which business quality 71 · Market factors (momentum, volatility) 51

Profitability 66
Margins and returns on capital today
Quality Growth 44
Are margins and returns improving?
Cashflow 90
Earnings quality: real cash, not paper profit
Fin. Strength 71
Balance sheet, leverage, solvency risk
Investment 64
Disciplined investing over empire-building
Low Volatility 79
Calm price path (market factor)
Momentum 50
Price trend over the last 3–12 months (market factor)
52W Momentum 23
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Vedant Fashions Limited manufactures, trades, and sells wedding and celebration wear in India Nepal, the United States, Canada, the United Arab Emirates, the United Kingdom, and internationally.

Full company description

Vedant Fashions Limited manufactures, trades, and sells wedding and celebration wear in India Nepal, the United States, Canada, the United Arab Emirates, the United Kingdom, and internationally. The company offers kurta sets, indo-western, sherwani sets, jackets, accessories, jodhpuris suits, and short kurtas for men; lehengas, sarees, stitched suits, crop top lehengas, gowns, and accessories for women; and kurta sets, jacket sets, indo-western outfits, child infant, child accessories, girls' ghagra choli, girls' gowns, and girls' frock for children. It provides its products under the Manyavar, Mohey, Twamev, Diwas, and Mebaz brands through franchised stores, multi-brand outlets, large format stores, and e-commerce. Vedant Fashions Limited was founded in 1999 and is headquartered in Kolkata, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Vedant Fashions Limited reported revenue of ₹14.4B in FY2026 versus ₹10.4B in FY2022, a compound +8.4%/yr. Reported net income was ₹3.8B in FY2026, compounding +4.5%/yr from FY2022.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
₹14.4B
Latest YoY
+3.5%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+1.9%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+20.5%
Avg. growth/yr (8Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+8.3%
Revenue +8.4%/yr
FY22 ₹10.4B
FY23 ₹13.5B
FY24 ₹13.7B
FY25 ₹13.9B
FY26 ₹14.4B
Net income +4.5%/yr
FY22 ₹3.1B
FY23 ₹4.3B
FY24 ₹4.1B
FY25 ₹3.9B
FY26 ₹3.8B

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Cite: Fair Value Calculator (2026). "Vedant Fashions Limited Fair Value". https://www.fairvalue-calculator.com/stock/MANYAVAR

Peer Group

Apparel Manufacturing · 210 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 74 · Top 25%
Fair Value upside −4% · Above median
Return on equity (TTM) 20% · Top 25%
Return on assets 10% · Top 25%
Net margin (TTM) 26% · Top 25%
Operating margin (TTM) 34% · Top 25%
Revenue growth 9% · Above median
Dividend yield (TTM) 1.9% · Below median

Valuation Multiples vs Apparel Manufacturing median · lower = cheaper

P/E (TTM) 35.0× · Pricier than 75% of peers
P/B 5.04× · Pricier than 75% of peers
P/S (TTM) 6.90× · Pricier than 75% of peers
P/FCF 0.2× · Cheaper than 75% of peers
EV/EBITDA 15.8× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 29 · sector 28
FUTURE 44 · sector 4
PAST 80 · sector 21
HEALTH 0 · sector 98
DIVIDEND 39 · sector 55

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Apparel Manufacturing stocks, each showing price versus our Fair Value estimate (as of Aug 16, 2026).

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Bosideng International Holdings 3998 HK$4.65 HK$5.92 +27%
Youngor Fashion Co 600177 ¥7.78 ¥5.59 -28%
Page Industries Limited PAGEIND ₹38,295 ₹12,395 -68%
Hla Group 600398 ¥6.07 ¥9.92 +63%
Youngone Corporation 111770 85,200 KRW 188,736 KRW +122%
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Youngone Holdings 009970 188,300 KRW 697,038 KRW +270%
Wiselink Co 8932 105.00 TWD 37.95 TWD -64%

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Frequently asked questions

Is Vedant Fashions Limited (MANYAVAR) overvalued or undervalued?
As of Aug 16, 2026, our model estimates a fair value of ₹523.04 versus a price of ₹541.85, about −3% (fairly valued).
What is the fair value of MANYAVAR?
Our model-based fair value for Vedant Fashions Limited is ₹523.04 (as of Aug 16, 2026), built from audited fundamentals. The current price is ₹541.85.
What is the quality score of MANYAVAR?
Vedant Fashions Limited has a Quality Score of 74/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Vedant Fashions Limited (MANYAVAR)?
Vedant Fashions Limited reported trailing-twelve-month revenue of about ₹14.4B (latest available figure, as of Aug 16, 2026).
What is the net profit margin of MANYAVAR?
The net profit margin of Vedant Fashions Limited is about 26.2%, meaning it keeps roughly 26.2% of revenue as net income. Based on the latest reported figures.
Does Vedant Fashions Limited pay a dividend?
Vedant Fashions Limited currently shows a dividend yield of about 1.93% relative to its recent price (as of Aug 16, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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