Divya Agarwal
Mumbai (Maharashtra) [India], February 12: Nandani Creation Limited (NCL), India’s leading women’s wear company operating under its flagship brand “Jaipur Kurti”, announced its results for Q3 and 9M ended on December 31st, 2024, on 09th February, 2026.
Financial Performance:
- Strong Revenue Momentum
Net Sales grew 65% YoY in 9MFY26 and 100% YoY in Q3FY26, marking the third consecutive quarter of robust top-line growth despite a challenging industry environment.
- Stable EBITDA Margins with Strategic Investments
EBITDA margin remained steady in the ~7% range during 9MFY26. The moderation versus the prior year is primarily due to a deliberate strategic shift from own manufacturing to flexible, demand-based sourcing and increased investments in brand-building initiatives.
Key highlights:
- ₹100 Cr Brand Milestone Achieved:
Flagship brand Jaipur Kurti crossed ₹100 crore in sales for Calendar Year 2025 – a ~46% YoY growth – positioning the company among a select group of Indian women’s ethnic wear brands that have scaled to this level while maintaining profitable operations.
- Brand Premiumization Driving Higher Realizations
A proactive shift towards aspirational brand positioning, supported by an expanding offline retail presence and an increased focus on premium offerings such as Jaipur Kurti Luxe and Amaiva – by Jaipur Kurti, has resulted in a healthy improvement in Average Selling Price (ASP), as such
- ASP in offline (retail) channels increased to ₹2,669 in 9MFY26, from ~ ₹1,707 in 9MFY25.
- ASP in online marketplace channels improved to ~ ₹1,147 in 9MFY26, compared to ₹1,108 in 9MFY25.
Hence, improving revenue quality and setting the stage for better margins ahead.
- Smart Channel Diversification & High-Growth Expansion
Optimized existing mix during 9M:
- 3rd-party online marketplaces (Myntra, Nykaa, Flipkart, Ajio, InstaMart etc.): 35%
- 3rd-party retail presence (Trends, Centro, Shoppers Stop, SIS, LFRS etc.): 29%
- Own channels (EBOs + Website + Wholesale): 36%
New channels scaling rapidly:
- Presence in 100+ Reliance Trends stores, 12+ Centro, 12+ Shoppers Stop, 40+ Avantara & Kalanikethan Stores
- Quick commerce already contributing ~3% of total sales
- Additional LFRS and quick-commerce rollouts planned for coming quarters
- Efficient Omni-Channel Model with Strong Operational Leverage
- 16+ Exclusive Brand Outlets / Franchisees operational
- 80+ SIS counters across key markets
- Omni-channel experience live and expanding
- Strategic partnerships with all major online platforms + leading national LFRS and quick-commerce players
Commenting on the results, Mr. Anuj Mundhra, Chairman & Managing Director of Nandani Creation Limited commented:
“The Indian fashion retail industry has faced several challenges over the past few quarters, including subdued consumer demand and persistent inflationary pressures, which impacted discretionary spending across the sector.
Despite these headwinds, Nandani Creation Limited delivered a strong performance during the nine-month period. I am pleased to share that we achieved ₹100+ crore in sales during calendar year 2025, reflecting the strength of our brand, diversified channel presence, and disciplined execution.
Going forward, based on improving customer traction and expanding distribution reach, we believe we are well-positioned to increase our market share and evolve into a leading brand in women’s Indian wear.”
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