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A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
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Revenue
₹56 Cr
verification pending
Revenue YoY
46%
reported change
EBITDA
₹8 Cr
latest reported figure
Source
manual review required
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Thomas Scott delivered a strong Q3 FY26 with revenue of ₹56 crore (+46% YoY) and PAT of ₹5 crore (+67% YoY), despite a warehouse fire that management estimates cost 15-20% of potential revenue. The own brand Thomas Scott grew 91% YoY to ₹27 crore, while licensed brands rose 18% and contract manufacturing surged 113%. Management highlighted a test-and-scale model with low inventory risk and a focus on the mass-premium online segment (ASP ₹800-1,200). Guidance includes maintaining EBITDA margins of 12-15% and targeting long-term receivable days of ~60. Key risks include elevated receivables (71 crore, ~100 days) and potential insurance claim delays. The company remains optimistic about Q4 demand, driven by festive season and winterwear traction.
Colored figures show movement against the previous available record.
Guidance to track
- Management targets EBITDA margins between 12-15% at any point, with potential improvement as scale increases.
- Management expects receivable days to settle around 60 days under current accounting practices as contracts transition to direct B2C.
- Management expects to maintain a similar growth trajectory, with revenue and margin projections consistent with recent performance.
Risks flagged
- Trade receivables rose to ₹71 crore (~100 days), driven by revenue concentration in month-end and B2B2C models. Management targets 60 days long-term but no timeline given.
- A fire at the Dandi warehouse caused inventory loss of ₹21.85 crore (fully insured). Management estimates 15-20% revenue loss but claim settlement timeline is unclear.
- SKU count reached 31,216, raising concerns about slow-moving inventory. Management relies on test-and-scale and end-of-season sales, but tail inventory risk persists.
Key quotes
- We believe that long-term receivable would settle at somewhere around 60 days.
- Our customer returns are quite low... approximately close to 20%, which is lower than 28 to 30% that most other apparel brands experience.
- We are targeting EBITDA margins between 12 to 15% at any point of time.
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