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Earnings Call Transcript

Thomas Scott (India) Earnings Call Transcript: Key Takeaways

Thomas Scott delivered explosive revenue growth driven by digital commerce pivot and premiumization, but faces significant working capital stress and persistent fire-related disruptions.

Why this was an Alfa AlertManagement guides 60% Revenue growth for FY27 (explicit single-year guidance).
Guidance and delivery
Management target Revenue 60.0% FY27
Highlights
Revenue growth63% YoY Q4 growth; 10th consecutive quarter of revenue expansion.
MarginsEBITDA margins stable at 14.1% despite higher raw material costs.
Demand visibilityStrong digital demand across Tier-2/3 cities via marketplace partnerships.
Management confidenceHigh optimism tempered by defensive explanations of fire incidents and debt.

Growth

Revenue surged 63% YoY in Q4; premium international brand licensing is the core growth engine.

Outlook

Management guides to maintaining current 60% revenue growth pace into FY27 through 'test and scale' model.

Risks

Extreme working capital intensity with 120-day receivables; repeat fire incidents suggest potential operational control lapses.

Last quarter's promises, checked

Delivered

  • Guided 60%+ growth → delivered 63% Q4 / 58% FY26 revenue growth (= BEAT)
  • Guided ROCE accretive growth → delivered 22.31% ROCE (= BEAT)
  • Guided premiumization → delivered material costs down 58% to 52% (= BEAT)

Partly delivered

  • Guided inventory optimization → delivered 120-day holding period (= PARTIAL)
  • Guided retail expansion → closed stores to focus on online organic growth (= PARTIAL)

Missed

  • Guided debt reduction → delivered debt-to-equity at 0.3-0.4 due to fire (= MISS)
Source

Earnings Call Transcript filed with NSE, NSE: THOMASCOTT. Summary written with AI assistance from the document.

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Thomas Scott (India) Ltd: key numbers

Share price
₹248.65
Market cap
₹369.3 Cr
Revenue (annual)
₹254.9 Cr
Net profit (annual)
₹19.30 Cr
P/E (TTM)
17.5×Sector 55.7×
Promoter holding
51.68%-0.64% QoQ
FII holding
0.12%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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