Cantabil Retail India Limited — Q3 FY26
Cantabil Retail delivered a strong Q3 FY26 with revenue of 264.4 cr (+19% YoY), EBITDA of 95.2 cr (+31% YoY), and PAT of 45.1 cr (+31% YoY).
bullish
high
Financial stats pending filing verification
Claim Ledger
Did management answer the analysts?
Every material analyst question, graded on whether management actually answered it — with the verbatim exchange and quantitative claims checked against filed numbers.
92%Questions answered0Evaded / deflected12Questions auditedContradictedNumbers vs filing
Answered
High priority
What square footage used for mature store SST and revenue per sq ft?
Asked by Pavan, Ratna Tria
Management provided specific revenue per sq ft numbers for mature stores.
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Question
what is the square area that has been used to calculate uh the SSD which is like for the m mature stores and also what is the revenue per square ft of the mature stores
Management (unidentified)
overall store running for the year this here that is the uh 100 for the quarter it is, 2018 as compared to 962 last year and if I'll take 9 months it is 790 rupees per square ft as compared to 743 rupees square ft last year
Answered
Medium priority
How is employee cost controlled despite store expansion?
Asked by Ankit Sha, White Equity Investment Advisor
Management gave a specific percentage and trajectory for employee cost.
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Question
employee cost is very well controlled. Uh so how are we managing this in spite of the store expansion?
Management (unidentified)
overall uh 10% is my salary cost at this front end level and going forward the trajectory will be approximately same.
Answered
Medium priority
Number of franchise stores as of December 25?
Asked by Ankit Sha, White Equity Investment Advisor
Management provided exact numbers.
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Question
can you share the number of stores uh in the franchise model uh as of December 25?
Management (unidentified)
The total number of franchisee stores is 131 out of total 646 which is 20%.
Answered
High priority
Why are EBITDA margins high in Q3 despite similar gross margins?
Asked by Nitik, NV alpha fund
Management explained seasonality and fixed cost leverage.
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Question
if I look at the gross margins they are not as high you know but your AITA margins are so uh it's clearly not better pricing that you are getting in 3Q which is leading to this. So I want to understand the seasonality in the margins
Management (unidentified)
always Q3 is better in terms of sales because ticket value due to winter is high. Now the you said the margin is same 60% margin quarter on quarter say we have been maintaining but the store expenses are mostly fixed in nature.
Answered
High priority
What is the sustainable SSG target for next 1-2 years?
Asked by Hers, Anandraati
Management gave a clear percentage range.
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Question
what would be the sustainable level of SSD that we are targeting going forward in the next two one or two years?
Management (unidentified)
We are targeting 6% 5 to 6% which is a long-term sustainable number maybe couple of quarter up and down but long-term sustainable number is approximately 6 to 7%.
Answered
High priority
Revenue and gross margin guidance for FY27?
Asked by Hers, Anandraati
Management provided specific revenue growth and gross margin targets.
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Question
what would be your guidance in terms of revenue and I mean gross margin expansion going forward for FI27?
Management (unidentified)
we are uh continuously have a target of approximate 20 plus% in terms of revenue growth. So definitely this year and next year our vision statement was clear by 2027 we are crossing,000 cr of revenue mark and in terms of gross margin. Yes, 58 59% we are operating
Answered
High priority
Any change in store opening guidance for FY26/FY27?
Asked by Mayul Qatara, Insight Advisors
Management reaffirmed the 75-store target and gave store size details.
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Question
any change in guidance in terms of number of stores opening by the end of this fiscal any guidance for the next financial year as well in terms of number of stores new stores opening
Management (unidentified)
we plan to open 75 new stores in a year and the size of the store is increasing because we are opening the average store size of 1,600 to 1,700 square ft² now. So as of now our target is same
Partial answer
Medium priority
Impact of GST rate cut on realization per piece?
Asked by Shirin Jana Mittal, MS Capital
Management gave ASP but did not isolate GST impact.
did not quantify GST impact separatelyattributed to mix
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Question
the realization per piece has come down year on year. There is some impact of GST also I believe. Uh so I just wanted to understand like what is the blended impact of GST on the final price for us.
Management (unidentified)
my average selling price is also 1,70 as compared to last year 1026. So it is improved actually by four% a curve. We did not notice any reduction in terms of selling price and ticket size as well.
Partial answer
Medium priority
E-commerce sales number for Q3 and same quarter last year?
Asked by Shirin Jana Mittal, MS Capital
Management gave current quarter but not exact prior year figure.
did not provide exact prior year numbersaid need to recheck
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Question
the e-commerce sales number can you share for this quarter and what was it for uh the same quarter last year
Management (unidentified)
the my December quarter number was 17.7 K. And this was uh last year for last year I think 16 something I just need to recheck.
Answered
Medium priority
Profitability difference between family stores and men's stores?
Asked by Anand Mundra, Sore Wealth
Management gave a specific percentage difference.
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Question
what is the profit profitability of family store versus our traditional men's store? What is the profitability differences?
Management (unidentified)
the ITA is 2% higher in the family stores than the men's stores. So, so we have a better profitability in the family stores than the only men stores
Answered
High priority
Why no pricing growth despite 18% volume growth?
Asked by Ankit Sha, White Equity Investment Advisor
Management explained mix change and gave ASP numbers.
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Question
we've reported 18% volume and value growth. Um so uh as said you know we've not reported any pricing growth. Uh can you explain this a little bit?
Management (unidentified)
my ASP for the quarter this is what we are talking about company as a whole not L2L. So yes, if this say my ASP ASP is this is almost same. Last year it was approximately 1492 and this year 1491. So the change in the mix is there.
Answered
Medium priority
Rental cost for 9 months and full year estimate?
Asked by Hitendra Pradhan, Maximal Capital
Management provided exact 9-month figure and full-year estimate.
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Question
what were your uh rental uh cost for the 9 month uh total rental cost for the 9 months right?
Management (unidentified)
total 74 crores. ... rental cost for the full year would be approximately 95 approximately 95 to 100. Last year it was last year it was 83 crores this year it would end up approximately 100.
Quantitative claims vs filed numbers
| Claim | Management said | Filing | Verdict |
|---|---|---|---|
| Revenue growth target 20%+, FY27 revenue target 1000 cr | ₹1,000 cr | ₹264.44 cr | Overstated vs filing |
| E-commerce 9-month sales: 37 cr | ₹37 cr | ₹264.44 cr | Understated vs filing |
| E-commerce Q3 sales: 17.7 cr | ₹17.7 cr | ₹264.44 cr | Understated vs filing |
Filed figures sourced from Screener.in. Claims within a small tolerance of the filing are marked “matches filing”.