Bella Casa Fashion & Retail Limited (BELLACASA)
₹234.95 +0.85% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Bella Casa's revenue was ₹120 Cr (+33.4% year on year, +8.4% on the previous quarter), and net profit ₹2.5 Cr (-46.1% year on year); the operating margin was 4.9%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹120 | +33.4% | +8.4% |
| Operating profit | ₹5.9 | -19.9% | -24.7% |
| Net profit | ₹2.5 | -46.1% | -44.5% |
| EPS (₹) | 1.89 | -46.2% | -44.6% |
| Operating margin | 4.9% | — | — |
BELLACASA delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 35.66% of the BELLACASA shares traded on NSE were taken to delivery, against the stock's own 20-session average of 57.32%. That is lower than usual for this stock. Turnover was only ₹33 lakh, so a handful of trades can move this figure.
Delivery in the last 5 sessions: 18.6% · 47.5% · 74.9% · 68.1% · 35.7%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Bella Casa Fashion & Retail Limited has issued the notice for its 30th Annual General Meeting scheduled for September 29, 2026, via video conferencing. Key special business includes approval to increase the remuneration of Managing Director Pawan Kumar Gupta and Chairman Harish Kumar Gupta from ₹4,00,000 to ₹6,00,000 per month each for a 3-year term from August 13, 2026, to August 12, 2029. Additionally, the AGM will consider the reappointment of Director Gaurav Gupta, who retires by rotation.
- 30th Annual General Meeting scheduled for Tuesday, September 29, 2026, at 1:00 PM IST
- Proposed remuneration increase for MD Pawan Kumar Gupta to ₹6,00,000 per month for 3 years (Aug 13, 2026 - Aug 12, 2029)
- Proposed remuneration increase for Chairman Harish Kumar Gupta from ₹4,00,000 to ₹6,00,000 per month for 3 years
- Reappointment of Whole-Time Director Gaurav Gupta upon retirement by rotation
Bella Casa reported a strong 33% YoY revenue growth to ₹120 cr for Q1 FY27, driven by a 22% increase in volumes and 9.5% realization growth. However, EBITDA margins contracted significantly from 8.2% to 4.9% due to transient input cost spikes in dyeing, printing, and packing materials linked to geopolitical disruptions. The company is expanding capacity by 15% through debottlenecking and has onboarded a major UAE-based fast-fashion client. Despite the margin hit, the company generated ₹10 cr in operating cash flow and expects margins to normalize as costs are passed through to new orders.
- Revenue increased 33% YoY to ₹120 cr, despite labor impacts from Eid and regional elections.
- EBITDA margins dropped to 4.9% from 8.2% YoY, primarily due to a 3% impact from rising chemical and packing costs.
- Capacity debottlenecking is set to increase total output by 15% starting from the next quarter.
- Onboarded a major UAE-based fast-fashion retailer and India's largest mattress brand for ODM home furnishings.
- Operating cash flow stood at ₹10 cr for the quarter, with ₹4 cr invested in capex for expansion.
Bella Casa Fashion & Retail reported a 33.4% YoY increase in revenue to ₹119.94 cr for Q1 FY27. However, Net Profit After Tax fell significantly by 46% to ₹2.54 cr compared to ₹4.70 cr in the same period last year. The profitability was impacted by a 66.8% surge in combined material and manufacturing costs, which reached ₹118.69 cr before inventory adjustments. Consequently, EPS declined to ₹1.89 from ₹3.51, reflecting substantial margin compression despite strong top-line growth.
- Revenue from operations increased 33.4% YoY to ₹119.94 cr from ₹89.91 cr.
- Net Profit After Tax declined 46.1% YoY to ₹2.54 cr from ₹4.70 cr.
- Direct manufacturing expenses rose 65.8% YoY to ₹60.94 cr.
- Cost of materials consumed increased 68% YoY to ₹57.75 cr.
- Earnings Per Share (EPS) dropped to ₹1.89 from ₹3.51 in the year-ago quarter.
Bella Casa Fashion & Retail Limited has filed its quarterly compliance certificate under SEBI Regulation 74(5) for the period ending June 30, 2026. The company's Registrar, KFin Technologies, confirmed that no requests for dematerialization or rematerialization were processed during this period. Notably, the entire shareholding of the company is already held in dematerialized form. This filing is a standard procedural requirement for listed entities in India.
- Compliance certificate issued for the quarter ended June 30, 2026
- 100% of the company's shares are currently in demat form
- Zero requests for dematerialization or rematerialization received during the quarter
Bella Casa Fashion & Retail Limited has notified the exchanges that its trading window will be closed starting July 1, 2026. This closure is a mandatory regulatory requirement under SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the announcement of financial results. The restriction applies to all designated persons and their immediate relatives for the quarter ending June 30, 2026. The window will reopen 48 hours after the unaudited financial results are declared to the stock exchanges.
- Trading window closure commences on Wednesday, July 1, 2026.
- Closure pertains to the unaudited financial results for the quarter ending June 30, 2026.
- Window to remain closed until 48 hours after the results are officially declared.
- The specific date for the Board Meeting to approve results will be announced later.
Bella Casa Fashion & Retail Limited reported a strong financial performance for the fiscal year ended March 31, 2026, with annual revenue reaching ₹416.40 crore, up from ₹348.55 crore in FY25. Net profit for the full year grew significantly by 27.4% to ₹20.13 crore. While the March quarter (Q4) saw a robust 27% YoY revenue jump to ₹110.65 crore, quarterly net profit growth was more tempered at 5.2% YoY. The company also strengthened its governance by forming a new Management Committee.
- Annual Revenue from operations grew 19.5% YoY to ₹41,639.67 lakhs in FY26.
- Full-year Net Profit increased by 27.4% to ₹2,012.72 lakhs compared to ₹1,579.53 lakhs in FY25.
- Earnings Per Share (EPS) for the full year improved to ₹15.13 from ₹12.43 in the previous year.
- Q4 FY26 revenue stood at ₹11,064.71 lakhs, representing a 27% growth over Q4 FY25.
- Board approved the constitution of a new Management Committee and re-appointed M/s. Ranjan Mehta & Associates as Internal Auditors.
Bella Casa Fashion & Retail Limited has announced the constitution of a new Management Committee effective May 26, 2026. The committee is chaired by Mr. Govind Saboo, a Non-Executive Independent Director, and includes two Whole-Time Directors, Mr. Gaurav Gupta and Mr. Saurav Sir. This move is part of the company's efforts to streamline board-level oversight and enhance corporate governance. The announcement follows the board meeting held on the same day to formalize these administrative changes.
- Board of Directors approved the constitution of a new Management Committee on May 26, 2026.
- Mr. Govind Saboo (Independent Director) appointed as the Chairperson of the committee.
- Whole-Time Directors Mr. Gaurav Gupta and Mr. Saurav Sir inducted as committee members.
- The committee formation is effective immediately to support operational decision-making.
Bella Casa Fashion & Retail reported a strong FY26 performance with revenue growing 19% to ₹416 crores and PAT increasing 27% to ₹20 crores. The company demonstrated significant operational efficiency by reducing inventory days from 126 to 102 despite the revenue growth. A major capex of ₹46 crores was completed using internal accruals, expanding capacity to 2 crore pieces per annum. Although Q4 gross margins were temporarily impacted by geopolitical-related input cost spikes, the company maintained stable EBITDA margins through operating leverage.
- FY26 Revenue increased 19% YoY to ₹416 crores, driven by 14% volume growth
- Profit After Tax (PAT) for FY26 rose 27% YoY to ₹20 crores
- Inventory levels significantly improved, reducing from 126 days in FY25 to 102 days in FY26
- Completed ₹46 crore capex funded entirely through internal accruals to boost manufacturing capacity
- Operational capacity reached 2 crore pieces per annum with a reported ROCE of 17%
Bella Casa Fashion & Retail Limited has announced the formation of a new Management Committee effective May 26, 2026. The committee is chaired by Mr. Govind Saboo, a Non-Executive Independent Director, ensuring a layer of independent oversight in management decisions. The committee also includes two Whole-Time Directors, Mr. Gaurav Gupta and Mr. Saurav Sir, as members. This move is intended to streamline operational decision-making and strengthen the company's internal governance framework.
- Board of Directors approved the constitution of a new Management Committee on May 26, 2026.
- Mr. Govind Saboo, an Independent Director, has been appointed as the Chairperson of the committee.
- Whole-Time Directors Mr. Gaurav Gupta and Mr. Saurav Sir are the other two members of the committee.
- The committee formation is effective immediately to oversee management functions.
Bella Casa Fashion & Retail Limited has announced the re-appointment of M/s. Ranjan Mehta & Associates as its Internal Auditor for the financial year 2026-27. The decision was finalized during the Board of Directors meeting held on May 26, 2026. The audit firm, established in 2017, specializes in indirect taxation and internal audits for corporate clients. This re-appointment ensures continuity in the company's internal financial controls and compliance framework.
- Board approved the re-appointment of M/s. Ranjan Mehta & Associates (FRN:022927C) on May 26, 2026.
- The appointment is valid for the duration of the Financial Year 2026-27.
- The firm is a leading professional services firm in Rajasthan with a niche in Goods & Services Tax (GST).
- Compliance maintained under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Bella Casa Fashion & Retail's Board has approved the audited financial results for the quarter and year ended March 31, 2026. The statutory auditors, M/s Kalani & Co., issued an unmodified opinion, indicating no significant accounting discrepancies. The company also re-appointed M/s. Ranjan Mehta & Associates as internal auditors for the 2026-27 financial year. Furthermore, a new Management Committee was constituted to enhance operational oversight, chaired by Independent Director Mr. Govind Saboo.
- Board approved audited financial results for the quarter and year ended March 31, 2026.
- Statutory auditors issued an unmodified opinion, confirming financial statement reliability.
- Re-appointment of M/s. Ranjan Mehta & Associates as Internal Auditors for FY 2026-27.
- Constitution of a new Management Committee effective May 26, 2026, for better governance.
- The Management Committee includes two Whole-Time Directors and is chaired by an Independent Director.
Bella Casa Fashion & Retail Limited has informed the stock exchanges that it does not meet the criteria to be classified as a 'Large Corporate' (LC) for the financial year ended March 31, 2026. This classification is based on SEBI circulars which mandate certain debt issuance requirements for large entities. Since the company does not fall under this category, it is not required to comply with the specific disclosure and fund-raising mandates through debt securities for the period. This is a routine regulatory filing and does not reflect any change in the company's operational status.
- Company does not meet SEBI criteria for Large Corporate status for the financial year ended March 31, 2026.
- Exempt from mandatory fund raising via debt securities as per SEBI/HO/DDHS/CIR/P/2018/144.
- The filing was submitted to both BSE and NSE on April 30, 2026.
- No impact on the company's existing financial structure or business operations.
Bella Casa Fashion & Retail Limited has announced the successful passage of a special resolution via postal ballot for the appointment of Mrs. Bharti Rastogi as an Independent Director. The appointment is for a five-year term, effective from the conclusion of the voting period on April 25, 2026. The resolution received near-unanimous support from shareholders, with 99.9998% of the total 7,831,698 votes cast in favor. This move strengthens the company's board composition in compliance with SEBI listing regulations.
- Appointment of Mrs. Bharti Rastogi as an Independent Director for a period of five years.
- Special resolution passed with 99.9998% votes in favor (7,831,686 votes) and only 0.0002% against.
- Promoter and Promoter Group accounted for 7,809,962 votes, all of which were in favor.
- Public non-institutional shareholders cast 21,736 votes, with 99.94% supporting the resolution.
Bella Casa Fashion & Retail Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations for the period ending March 31, 2026. The company's registrar, KFin Technologies, confirmed that 100% of the company's shares are currently held in dematerialized form. No requests for dematerialization or rematerialization were processed during this quarter. This filing is a standard procedural requirement for listed companies in India and indicates no pending share conversion issues.
- Compliance certificate submitted for the quarter ended March 31, 2026
- Registrar KFin Technologies confirms 100% of the company's shares are in demat form
- Zero requests received for dematerialization or rematerialization during the period
Bella Casa Fashion & Retail Limited has announced the closure of its trading window starting April 1, 2026, in compliance with SEBI insider trading regulations. This closure is ahead of the declaration of audited financial results for the quarter and full financial year ending March 31, 2026. The restriction applies to all designated persons and their immediate relatives until 48 hours after the results are made public. The specific date for the board meeting to approve these results will be announced separately in the future.
- Trading window closure begins on Wednesday, April 1, 2026.
- Applies to the audited financial results for the quarter and year ending March 31, 2026.
- Window remains closed until 48 hours after the official result declaration.
- Board meeting date for financial results is yet to be intimated to the exchanges.
Financial Performance
Revenue Growth by Segment
Total operating income grew 48.04% YoY from INR 235.44 Cr in FY24 to INR 348.55 Cr in FY25. The apparel ODM segment now accounts for 90%+ of the business, aligning with the fast-fashion market growth of 30-40% YoY.
Geographic Revenue Split
Primarily domestic-focused with expansion efforts into Middle East countries. Specific regional percentage splits are not disclosed in available documents.
Profitability Margins
Reported Profit After Tax (PAT) increased 58.89% from INR 10.07 Cr in FY24 to INR 16.00 Cr in FY25. Net Profit Margin improved from 4.28% to 4.59% due to operational efficiencies and a shift toward high-margin apparel ODM.
EBITDA Margin
Not explicitly stated as a percentage, but cash accruals are expected to be INR 22-27 Cr per fiscal year, supporting core profitability and nil term debt obligations.
Capital Expenditure
The company operates 5 manufacturing plants in Jaipur covering 3,50,000+ sq. ft. with a capacity of 2 Cr pieces per annum. Specific planned INR expenditure for future expansion was not disclosed.
Credit Rating & Borrowing
Assigned 'Crisil BBB+/Stable' for INR 60 Cr bank facilities. Bank limit utilization is low at 35% on average, indicating strong liquidity and low borrowing costs.
Operational Drivers
Raw Materials
Textiles and fabrics (implied by product range of apparel and home furnishings). Specific percentage of total cost for each material is not disclosed.
Import Sources
Primarily domestic sourcing to lead to lower inward costs and faster turnaround times.
Capacity Expansion
Current installed capacity is 2 crore pieces per annum across 5 manufacturing plants in Jaipur. The company has modernized workflows and digitalized design to optimize this capacity.
Raw Material Costs
Susceptible to volatility in raw material prices which can impact margins; however, domestic sourcing is used as a strategy to mitigate inward logistics costs.
Manufacturing Efficiency
Capacity utilization is supported by 3,000+ employees and 3,50,000+ sq. ft. of facility space. Efficiency is driven by rapid fashion design and lean manufacturing processes.
Logistics & Distribution
Distribution network includes 5,000+ retailers and all major e-commerce platforms for the home furnishing segment.
Strategic Growth
Expected Growth Rate
25%+
Growth Strategy
Strategic pivot to 90%+ apparel ODM to capture the fast-fashion market (expected to grow from USD 10B to USD 50B by FY31). Growth will be driven by expanding the customer base in the Middle East, targeting mid-value and premium brands with end-to-end supply chain solutions, and leveraging a 2 crore piece annual capacity.
Products & Services
Apparel (Western and Indian attire for women, traditional wear for men and kids) and Home Furnishings (Bed sheets, Dohars, Comforters, Pillow Covers).
Brand Portfolio
Bella Casa
New Products/Services
Expansion into premium brand collaborations and private labels to tap into style-focused niche markets.
Market Expansion
Targeting Middle East countries for exports and diagnosing domestic markets for further own-brand expansion.
Market Share & Ranking
Fast fashion market share is estimated to reach 10-20% by FY31 for the segment the company operates in.
Strategic Alliances
Focus on international distributors and brand collaborations for private labels.
External Factors
Industry Trends
The Indian fast-fashion industry is at an inflection point, growing at 30-40% YoY compared to 6% for general fashion retail. The market is expected to reach USD 50 billion by FY31.
Competitive Landscape
Intense competition from both organized and unorganized players in the textile and apparel sector.
Competitive Moat
Moat is built on a 28-year track record, lean manufacturing, and a rapid design-to-delivery cycle (improving debtor days from 120 to 50). This responsiveness is difficult for smaller competitors to replicate at scale.
Macro Economic Sensitivity
Sensitive to global economic resilience and shifting macroeconomic conditions; global growth supports technology advances in manufacturing.
Consumer Behavior
Shift toward 'value-for-money' and 'fast fashion' trends where consumers demand rapid updates in style and design.
Geopolitical Risks
Persistent geopolitical tensions and changes in government regulations or tax regimes are cited as factors that could materially affect operations.
Regulatory & Governance
Industry Regulations
Compliance with the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Taxation Policy Impact
The company follows Indian Accounting Standards (Ind AS) under Section 133 of the Companies Act, 2013.
Legal Contingencies
Pending litigations exist as disclosed in Note No. 42 of the financial statements; however, the company stated it has no long-term contracts with material foreseeable losses.
Risk Analysis
Key Uncertainties
Raw material price volatility and high customer concentration (80% revenue from 2-3 clients) are the primary risks to profitability and revenue stability.
Geographic Concentration Risk
Manufacturing is 100% concentrated in Jaipur, Rajasthan, across 5 plants.
Third Party Dependencies
High dependency on a few major domestic brands and retailers for the ODM business segment.
Technology Obsolescence Risk
Mitigated by digitalizing workflows and modernizing design processes to stay relevant in the fast-fashion cycle.
Credit & Counterparty Risk
Debtor cycle significantly improved from 120 days to 50 days over 5 years, reducing credit risk and improving cash flow.
