PNGS Gargi Fashion Management Guidance Tracker

Management guided for at least 35% revenue growth in FY27 and beyond, driven by store expansion and market tailwinds.

Targeting 35% CAGR driven by same-store growth, new EBOs, and industry tailwinds.

Plans to open not less than 20 stores, with an upper range of 25-30, primarily in North India.

Plans to add minimum 20 new stores in FY27, primarily COCO EBOs.

Management expects PAT margin to stay around 22-23% despite higher marketing spend, supported by cost efficiencies.

Margins expected to stay around 20% with possible improvement as new stores mature.

Company targets migration to mainboard after meeting profitability criteria, likely by September 2026.

Expects SIS with PNG Sons to drop from 78% to ~65% of revenue by FY28 as EBOs scale.