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Revenue
₹388 Cr
verified against source
Revenue YoY
2%
reported change
EBITDA
₹39 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Dollar Industries reported Q3 FY26 revenue of ₹388 crore, up 2% YoY, with EBITDA margin stable at 10%. PAT grew 45.1% YoY to ₹18 crore, aided by cost discipline and product mix improvement. Gross margin expanded 91bps to 36.5%. Volume growth was modest at 2.4%, while premium brand Force NXT surged 26.5% in value. Management reaffirmed full-year revenue guidance of 11-12%, implying a sharp Q4 pickup, which appears ambitious given current trends. The company maintains a margin-first strategy, targeting 14-15% EBITDA margin over the medium term. Key risks include sustained pricing pressure from intense competition and inability to pass on raw material cost increases.
Colored figures show movement against the previous available record.
Guidance to track
- Management reaffirmed full-year revenue growth guidance of 11-12%, implying ~15% growth in Q4.
- Management expects EBITDA margins to remain stable in the range of 11.5-12% for the full year.
- Management targets sustainable EBITDA margins of 14-15% over the next couple of years, driven by operating leverage and product mix.
- Management targets crossing ₹100 crore revenue in the rainwear segment within two years, with EBITDA margins of 18-20%.
Risks flagged
- The industry faces sustained pricing pressure, limiting ability to take price hikes and compressing margins.
- Achieving 15%+ growth in Q4 to meet the full-year guidance appears ambitious given Q3 growth of only 2%.
- Yarn prices are volatile due to export market dynamics and US tariffs, which could impact margins if price hikes are not feasible.
- The Lakshya project has seen no new distributor additions in 9 months, with expansion delayed due to market conditions.
Key quotes
- Our approach is not about choosing between growth and profitability but about sequencing them correctly prioritizing earnings quality cash flows and returns in the current environment.
- We are not going down to 5% kind of a thing and we are very sure about it internally also that we won't be doing that.
- We are the first company in our segment that our brand is in our company only. So whenever we introduce new products in our brand we don't have to pay any royalty.
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