REDTAPE (REDTAPE) Q2 25/26 earnings summary

Executive summary

• Achieved strong revenue and profit growth in Q2 and H1 FY26, driven by robust retail traction, cost efficiency, and product diversification across footwear, apparel, and accessories.

• Unaudited standalone and consolidated financial results for Q2 and H1 ended September 30, 2025, were approved and reviewed by the Board and Audit Committee on November 14, 2025.

• Expanded store network to 513 exclusive outlets across 328 cities, deepening presence in both metro and emerging markets.

• Continued to diversify product portfolio and scale new sub-brands, including Ozark, Mode, and Bond Street.

• The main business remains retailing/trading of apparel and footwear, with all other activities incidental to this core segment.

Financial highlights

• Standalone Q2 FY26 revenue rose 19.54% year-over-year to ₹50,104 lakh; EBITDA up 21.68% to ₹8,261 lakh; PAT up 8.88% to ₹2,796 lakh.

• Consolidated Q2 FY26 revenue was ₹49,240 lakh, up from ₹41,580 lakh in Q2 FY25; H1 FY26 revenue was ₹95,671 lakh, up from ₹85,769 lakh year-over-year.

• H1 FY26 standalone revenue grew 12.88% to ₹97,315 lakh; EBITDA up 22.42% to ₹16,939 lakh; PAT up 19.72% to ₹6,727 lakh.

• Consolidated H1 FY26 revenue increased 12.97% to ₹97,541 lakh; PAT up 18.72% to ₹6,614 lakh.

• Total dividend payout for FY25 was 112.5%.

Outlook and guidance

• Plans to scale Ozark and other sub-brands, deepen presence in key cities, and expand global footprint.

• Focus on category diversification, operational agility, and long-term value creation.

• Management believes there is no material adverse impact from recent tax search operations and no material adjustments are required to the financial results for the period.