Credo Brands Marketing Limited — Investor Meet, 08-08-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Credo Brands (Mufti) Q1 FY26: Revenue INR 119.9 Cr, PAT INR 6.3 Cr. Gross Margin 61.6% (temporarily high), EBITDA 25.9%. Management is undertaking a strategic premiumization of Mufti, opening 20 new premium/flagship stores and significantly boosting digital marketing spend (6-7% in FY26, 8-10% in FY27). These investments will pressure short-term profitability, with benefits seen from FY28. Due to cautious consumer spending, FY26 revenue is guided flattish/low single-digit. Despite current market softness, management is confident in Mufti's long-term premium brand positioning.