Vedant Fashions (Manyavar) Share Price Target 2026, 2027, 2028, 2029, 2030
- Market Cap
- ₹11,846 Cr
- Book Value
- ₹80.9
- Stock P/E
- 30.7
- Dividend Yield
- 1.65%
- ROE
- 20.0%
- ROCE
- 23.6%
- PEG Ratio
- 1.27
- EV/EBITDA
- 16.7
Fundamentals from Screener.in, as of 5 Aug 2026. Live price via Yahoo Finance.
Vedant Fashions share price today
Vedant Fashions (NSE: MANYAVAR) owns the Indian wedding’s dress code. Manyavar made branded ethnic menswear a category — the sherwani a groom rents-or-buys is, more often than not, theirs — with Mohey (women’s), Twamev (premium) and Manthan extending the franchise. The economics are franchise-model luxury: 43.9% operating margins (company designs and distributes; franchisees carry the retail capital), 23.6% ROCE, and inventory science that keeps sell-through legendary.
The stall is real: sales have been flat for three years as post-COVID wedding normalisation and value-retail competition bit. Our universe keeps it on watch at 30.7× — the note says it exactly: growth has stalled two years — the brand hasn’t. Watch for the re-acceleration.
The monopoly that paused
Category monopolies stall differently from broken companies: Manyavar’s share of organised ethnic menswear remains dominant, store economics stay franchise-profitable, and the wedding calendar guarantees demand’s floor. The bear case is that value brands (and rental culture) cap the celebration-wear wallet; the bull case is that premiumisation resumes with the consumption cycle and the women’s-wear build-out (Mohey) finally scales. At a PEG of 1.27 with a 1.65% yield, the price no longer assumes the bull case.
Watch-items: same-store sales growth (the re-acceleration signal), Mohey’s traction, wedding-date density by season, and franchisee-expansion pace resuming.
The numbers
From our research universe snapshot (5 Aug 2026):
| Metric | Value |
|---|---|
| Market cap | ₹11,846 Cr |
| P/E (TTM) | 30.7 |
| EV/EBITDA | 16.7 |
| Operating margin | 43.9% |
| ROE / ROCE | 20.0% / 23.6% |
| Debt to equity | 0.23 (leases) |
| Sales CAGR (5y) | 21.5% |
| Profit CAGR (5y) | 24.2% |
| Promoter holding | 74.9% |
| EPS (TTM) | ₹15.83 |
Vedant Fashions share price target 2026 to 2030
EPS base ₹15.83 (TTM). Bear: the stall is structural — 5% growth, multiple at 20×. Base: consumption revives, stores expand again — 11% growth at 27×. Bull: premiumisation returns with Mohey scaling — 16% growth at 34×.
| Year | Bear (20×, +5%) | Base (27×, +11%) | Bull (34×, +16%) |
|---|---|---|---|
| 2026 | ₹332 | ₹474 | ₹624 |
| 2027 | ₹349 | ₹527 | ₹724 |
| 2028 | ₹367 | ₹585 | ₹840 |
| 2029 | ₹385 | ₹649 | ₹975 |
| 2030 | ₹404 | ₹720 | ₹1,130 |
From ₹486, the base case is ≈ +48% over four and a half years plus the 1.65% yield; the bear is −17%. Monopolies in pause trade on proof, not promise — the range below prices the wait.
Reasons to own Vedant Fashions (at the right price)
- The wedding-wear category monopoly — occasion demand with a cultural floor.
- 44% operating margins from the franchise model’s capital-light design.
- The multiple has already de-rated to reflect the stall — PEG 1.27.
- Mohey (women’s) is a second Manyavar-sized addressable market.
- A 1.65% yield from genuinely surplus cash while waiting.
The risks: the flat-sales flag could reflect structural value-shift rather than a pause, rental culture nibbles at purchase occasions, and franchise expansion needs same-store health to resume.
Should you buy at the current price?
The live buy range below is for members — the monopoly, priced for its pause.
FAQ
What is the Vedant Fashions share price target for 2030? Base case ≈ ₹720 (27× on 11% compounded growth), bear ≈ ₹404, bull ≈ ₹1,130. Arithmetic above.
Why have sales been flat for three years? Post-COVID wedding-splurge normalisation, value-retail competition in celebration wear, and a cautious discretionary consumer — category headwinds, not brand share loss.
What is the franchise model’s advantage? Franchisees fund the stores; Vedant designs, manufactures and manages inventory analytics. The company earns brand economics (44% OPM) without retail capital intensity.
When are Vedant Fashions’ next results? Track the exact date on our results calendar.
This article is research and education, not personalised investment advice. We are not SEBI-registered advisers. Price targets are scenario arithmetic, not promises. Do your own research and consult a registered adviser before acting.