Stanley Lifestyles Ltd — Q3 FY26

Stanley Lifestyles reported a weak Q3 FY26 with revenue declining 5.4% YoY to ₹103.8 Cr and a marginal PAT loss of ₹0.2 Cr vs ₹8.9 Cr profit last year. EBITDA margin contracted 680 bps to 11.9% due to operational deleverage, new store costs, and one-time employee expenses from leadership transition and labor code changes. Management attributed the slowdown to project handover delays, subdued discretionary demand, and a conscious 'reset' involving brand architecture review and store rationalization. They highlighted a 20% YoY increase in kitchen/cabinetry order book share to 37%, signaling a pivot to full-home solutions. Guidance remains vague; the aspirational ₹1,000 Cr revenue target is reiterated but without a timeline. Key risk: store maturity may take longer than expected, delaying margin recovery.