Womancart Limited (WOMANCART)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Womancart's revenue was ₹32.6 Cr (+52.1% year on year, -61.2% on the previous quarter), and net profit ₹3.2 Cr (+49.0% year on year); the operating margin was 19.9%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹32.6 | +52.1% | -61.2% |
| Operating profit | ₹6.5 | +33.0% | -5.0% |
| Net profit | ₹3.2 | +49.0% | +32.3% |
| EPS (₹) | 3.88 | +26.8% | +20.9% |
| Operating margin | 19.9% | — | — |
WOMANCART delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 77.08% of the WOMANCART shares traded on NSE were taken to delivery, against the stock's own 20-session average of 78.97%. That is close to its usual level. Turnover was only ₹16 lakh, so a handful of trades can move this figure. It closed at a price band (circuit) on 2 sessions in about the last 20.
Delivery in the last 5 sessions: 70.3% · 90.9% · 71.7% · 80.0% · 77.1%
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
Womancart Limited has submitted the Scrutinizer's report following its 8th Annual General Meeting (AGM) held on September 30, 2026. The report was issued by Ms. Priya Binani of Priya Binani & Associates, confirming the voting results. This is a standard post-AGM statutory compliance filing without any unexpected corporate actions or financial disclosures.
- Scrutinizer's report submitted for the 8th Annual General Meeting
- AGM held on Wednesday, September 30, 2026
- Report provided by Ms. Priya Binani of Priya Binani & Associates
- Voting results finalized and placed on company and NSDL websites
Womancart Limited has announced the closure of its trading window starting Thursday, October 1, 2026. This closure complies with SEBI (Prohibition of Insider Trading) Regulations for the declaration of unaudited financial results for the quarter and half-year ended September 30, 2026. The window will remain shut for designated persons and their immediate relatives until 48 hours post the financial results announcement. The exact date for the Board meeting to consider the results will be intimated in due course.
- Trading window closes effective Thursday, October 01, 2026
- Closure applies until 48 hours after declaration of Q2/H1 unaudited financial results
- Results pertain to the quarter and half year ended September 30, 2026
- Date of Board meeting to be intimated in due course
Womancart Limited has informed the exchange regarding an upcoming one-on-one, in-person investor meeting with Lucky Investment Managers scheduled for September 22, 2026, in Mumbai. The company confirmed that no Unpublished Price Sensitive Information (UPSI) will be discussed during the interaction. This is a standard institutional engagement for the micro-cap retailer (market cap of ₹74 Cr), which has seen its share price drop 60.0% over the past 12 months.
- One-on-one physical meeting scheduled with Lucky Investment Managers
- Meeting date set for September 22, 2026, in Mumbai
- Company clarified that no Unpublished Price Sensitive Information (UPSI) will be shared
- Company market cap stands at ₹74 Cr against TTM revenue of ₹203 Cr
Womancart Limited has responded to a query from the National Stock Exchange regarding the non-submission of segment details in its financial results submitted on August 14, 2026. The company clarified that under Accounting Standard (AS) 17, it operates in a single business segment encompassing digital and physical retail of beauty, wellness, and lifestyle products. Womancart noted that the risk and rewards across its online and offline operations are identical, referencing a previous clarification dated May 09, 2026. This administrative submission has no direct financial impact on the company's reported revenue or profits.
- Responded to NSE observation on financial results submitted on August 14, 2026
- Company cited AS-17 Para 5.1 to clarify single business segment status
- Referenced prior clarification submitted on May 09, 2026 regarding segment reporting
- Clarified that online and brick-and-mortar operations share identical risks and rewards
Womancart Limited has scheduled its 8th Annual General Meeting (AGM) for September 30, 2026, at its New Delhi office. Key agenda items include adopting FY26 audited accounts, re-appointing Mrs. Veena Pahwa as Director, and re-appointing Independent Director Mr. Kunal Sharma for a second 3-year term. Shareholders will also vote on special resolutions approving material related-party transactions involving entities including Varadda Overseas Limited, MSV Beautyy Shop Limited, and MSV Retaail Fashion Private Limited. Remote e-voting is set between September 27 and September 29, 2026, with a cut-off date of September 23, 2026.
- AGM scheduled for September 30, 2026, at 03:00 PM IST via physical attendance
- Remote e-voting period runs from September 27, 2026 (09:00 AM) to September 29, 2026 (05:00 PM)
- Eligibility cut-off date for e-voting fixed as September 23, 2026
- Special resolutions proposed for material related party transactions with Varadda Overseas and MSV Beautyy Shop
- Proposal to re-appoint Independent Director Mr. Kunal Sharma for 3 years (September 04, 2026 to September 03, 2029)
Womancart Limited has approved the re-appointment of Mr. Kunal Sharma as an Independent Director for a second term of 3 years, effective from September 04, 2026, to September 03, 2029. The re-appointment is subject to shareholder approval via a Special Resolution at the upcoming Annual General Meeting. Mr. Sharma brings over 12 years of experience in corporate law, SEBI regulations, and compliance audits. This represents a routine corporate governance update with no immediate financial impact on the company.
- Re-appointed Mr. Kunal Sharma as Independent Director for a second term of 3 years.
- Tenure extends from September 04, 2026, to September 03, 2029, not liable to retire by rotation.
- Subject to approval by shareholders via Special Resolution at the ensuing AGM.
- The director has over 12 years of experience in corporate law and SEBI regulatory compliances.
Womancart Limited promoter and Whole Time Director, Veena Pahwa, has acquired 16,400 equity shares via open market purchases between August 29, 2026, and September 1, 2026. The total transaction value was ₹18,69,600 (~₹18.70 lakh), executed at an average price of ~₹114 per share. Following this acquisition, her individual shareholding increased from 30.91% (25,38,618 shares) to 31.11% (25,55,018 shares).
- Promoter Veena Pahwa acquired 16,400 equity shares from the open market on NSE.
- Total transaction value stood at ₹18,69,600 (~₹18.70 lakh).
- Veena Pahwa's holding increased from 25,38,618 shares (30.91%) to 25,55,018 shares (31.11%).
- Transaction took place between 29-08-2026 and 01-09-2026.
Womancart Limited announced that 1,28,400 equity share warrants allotted to promoter group entity Madhu Sudan HUF on February 21, 2025, have lapsed upon expiry of the 18-month exercise period. The warrant holder did not exercise the conversion option, resulting in the forfeiture of the 25% upfront consideration paid at allotment in accordance with SEBI ICDR Regulations. Consequently, no new equity shares will be allotted, keeping the company's paid-up equity base and promoter shareholding unchanged while avoiding equity dilution.
- 1,28,400 equity share warrants allotted to Madhu Sudan HUF on 21st February 2025 have lapsed unexercised.
- Warrant holder failed to exercise the conversion option within the mandatory 18-month statutory window.
- 25% upfront consideration paid at allotment stands forfeited to the company.
- Paid-up share capital and promoter group shareholding percentage remain completely unchanged.
Womancart released the transcript of its Q1 FY27 earnings conference call. The company reported Q1 revenue from operations of ₹32.56 crore, growing 52.1% YoY, while EBITDA grew 32.9% YoY to ₹6.47 crore and PAT surged 75.7% YoY to ₹3.7 crore (11.5% PAT margin). In-house brands now contribute 51% of total sales across a catalog of 31,350 SKUs. Management reiterated a current-year target of reaching 10,000 orders per day while confirming no fundraise plans until December.
- Q1 FY27 revenue grew 52.1% YoY to ₹32.56 crore, with EBITDA rising 32.9% to ₹6.47 crore.
- PAT reached ₹3.7 crore (+75.7% YoY) with an improved net margin of 11.5%.
- Own-brand products reached 51% of total sales across an active portfolio of 31,350 SKUs.
- Quick delivery within 2 hours is currently operational across Delhi NCR and Jaipur.
- Management targets 10,000 orders per day this year and confirmed no fundraise plans until at least December.
Womancart Limited has informed the exchange that the audio recording of its Earnings Conference Call held on August 14, 2026, has been made available on the company website. The conference call discussed the unaudited financial results for the first quarter ended June 30, 2026 (Q1 FY 2026-27). This is a procedural disclosure in compliance with Regulations 30 and 46 of the SEBI LODR Regulations.
- Audio recording of the Q1 FY 2026-27 earnings conference call uploaded to the company website
- Earnings call was conducted on August 14, 2026
- The call pertained to financial results for the quarter ended June 30, 2026
- Filing submitted under Regulation 30 and 46 of SEBI LODR Regulations
Womancart Limited has submitted the audio recording link for its Earnings Conference Call held on August 14, 2026. The call addressed the company's unaudited financial results for the first quarter ended June 30, 2026 (Q1 FY27). The intimation is a statutory compliance filing under Regulation 30 and 46 of SEBI LODR Regulations.
- Earnings conference call was conducted on Friday, August 14, 2026
- Discussion covered Unaudited Financial Results for Q1 FY 2026-27 ended June 30, 2026
- Audio recording made accessible to the public on the company's official website
Womancart Limited reported a strong Q1FY27 with revenue growing 52.1% YoY to ₹32.56 Cr and PAT rising 75.7% YoY to ₹3.75 Cr. A significant strategic shift is visible as own-brand contribution reached ~51% of total business, driving EBITDA margins to 19.9%. The company is enhancing its quick-commerce proposition with GPS-enabled 2-hour delivery in Delhi NCR and Jaipur, alongside a new 'Try & Buy at Home' service. Despite the growth, the stock remains a micro-cap (₹60 Cr) with a low P/E of 3.9, following a 62% price decline over the last year.
- Revenue increased 52.1% YoY to ₹32.56 Cr in Q1FY27, supported by higher order volumes.
- PAT grew 75.7% YoY to ₹3.75 Cr, resulting in a PAT margin of 11.5%.
- Own-brand contribution reached approximately 51% of the business, up from the previous year.
- EBITDA stood at ₹6.47 Cr with a margin of 19.9%, reflecting improved operating scale.
- Onboarded global brands CeraVe and The Face Shop to expand the premium beauty portfolio.
Womancart reported a strong Q1FY27 with revenue growing 52.1% YoY to ₹32.56 Cr, representing approximately 17% of its TTM revenue. Profitability showed significant improvement as PAT rose 75.7% YoY to ₹3.75 Cr, with PAT margins expanding from 10.0% to 11.5%. A key structural shift is the increasing contribution of high-margin 'Own Brands,' which now account for 51% of total sales compared to 49% from third-party OEMs. The company is aggressively scaling its 2-hour delivery model in Delhi NCR and Jaipur while expanding its international footprint in Australia.
- Revenue from operations increased 52.1% YoY to ₹3,256 Lakhs in Q1FY27.
- Net Profit (PAT) surged 75.7% YoY to ₹375 Lakhs, driven by operating leverage.
- Own-brand contribution reached 51% of total revenue, supporting a 76.5% YoY growth in Gross Profit.
- SKU portfolio expanded to 31,350+ items across 9 proprietary brands.
- Inventory levels rose significantly to ₹83.6 Cr as of March 2026 to support the 2-hour delivery model.
Womancart Limited reported a strong year-on-year performance for Q1 FY27, with consolidated revenue growing 52% to ₹32.56 Cr compared to ₹21.40 Cr in Q1 FY26. Consolidated net profit (after minority interest) increased 65% YoY to ₹3.19 Cr, up from ₹1.93 Cr. While revenue saw a sequential decline of 39% from the March 2026 quarter (₹53.32 Cr), net profitability more than doubled from ₹1.50 Cr in the preceding quarter. The company continues its expansion strategy, including a newly incorporated subsidiary in Dubai which is yet to commence operations.
- Consolidated Revenue from Operations grew 52.1% YoY to ₹32.56 Cr.
- Consolidated Net Profit (after minority interest) increased 65.3% YoY to ₹3.19 Cr.
- Consolidated EPS for the quarter stood at ₹3.88, compared to ₹3.17 in the year-ago period.
- Profitability improved significantly on a sequential basis, with PAT rising from ₹1.50 Cr in Q4 FY26 to ₹3.19 Cr in Q1 FY27.
- The company incorporated a wholly-owned subsidiary in Dubai, UAE, on December 1, 2025, which is currently in the pre-operational stage.
Womancart Limited has scheduled its Q1 FY26-27 earnings conference call for August 14, 2026, at 5:00 PM IST. The call will follow the board meeting for the approval of unaudited financial results for the quarter ended June 30, 2026. Managing Director and CFO Mr. Madhu Sudan Pahwa will lead the discussion. This interaction is significant for the micro-cap company (Rs 61 Cr market cap) as it seeks to address a 61.6% decline in share price over the last 12 months despite a TTM revenue of Rs 193 Cr.
- Earnings conference call scheduled for August 14, 2026, at 17:00 IST.
- Discussion to focus on unaudited financial results for the quarter ended June 30, 2026.
- TTM Revenue of Rs 193 Cr is approximately 3.16x the current Market Cap of Rs 61 Cr.
- Management to provide updates on the 2-hour delivery model and expansion of 8 high-margin home-grown brands.
Financial Performance
Revenue Growth by Segment
Revenue from operations grew 126.8% YoY in H1FY26 to INR 49.80 Cr from INR 21.96 Cr in H1FY25, driven by expansion in both online and offline channels and the successful implementation of a 2-hour delivery model.
Geographic Revenue Split
Primary revenue is generated from Delhi NCR and Jaipur hubs; international expansion is underway via WomanCart Pty Ltd in Australia, which hosted its first exhibition and completed 6 months of operations in 2025.
Profitability Margins
Gross Profit Margin stood at 39.9% in H1FY26, while Net Profit Margin reached 10.6% (INR 5.30 Cr), showing healthy growth supported by better operating leverage and a higher share of own SKUs.
EBITDA Margin
EBITDA Margin improved to 22.2% in H1FY26 (INR 11.06 Cr) compared to 16.8% in FY25, reflecting cost optimization and high-margin contributions from 8 home-grown brands.
Capital Expenditure
The company invested INR 1.00 Cr in MSV Beautyy Shop and INR 3.97 Cr in Varadda Overseas (subsidiaries); additionally, INR 5.13 Cr was raised via warrants at INR 312 each for business expansion.
Credit Rating & Borrowing
Finance costs were INR 0.96 Cr in H1FY26; the company raised INR 7.94 Cr from borrowings during the period to support working capital and expansion.
Operational Drivers
Raw Materials
Procurement categories include fashion accessories, jewelry, apparel, makeup, footwear, and home decor items (diffusers/bedsheets), representing 60.1% of total revenue as COGS.
Import Sources
Sourcing is primarily domestic from OEM brands and distributors; international sourcing and distribution are being established through the Australia-based associate, WomanCart Pty Ltd.
Key Suppliers
Procurement is managed through big OEM Brands, distributors, dealers, and CnF agents to maintain an inventory-led fulfillment model.
Capacity Expansion
Current infrastructure includes 9 retail points (3 WomanCart LUXE, 3 WomanCart, 1 Kiosk, 2 Blluex) and an 18,000 sq ft warehouse facility in Delhi NCR; expansion is targeted through a franchise model requiring INR 55-70 Lakhs investment per store.
Raw Material Costs
Cost of Goods Sold (COGS) was INR 29.91 Cr in H1FY26, accounting for 60.1% of revenue; procurement strategies focus on inventory-led fulfillment to ensure 2-hour delivery availability.
Manufacturing Efficiency
Efficiency is measured by the 2-hour delivery loop (Warehouse -> Store -> Customer) and maintaining a low damage rate of only 2-3% of total sales.
Logistics & Distribution
Logistics are optimized for express delivery; the 2-hour delivery model is currently operational across Delhi NCR and Jaipur to enhance customer convenience.
Strategic Growth
Expected Growth Rate
127%
Growth Strategy
Growth will be achieved by scaling the 2-hour delivery model to new cities, expanding the franchise network (400-600 sq ft stores), increasing the mix of 8 high-margin home-grown brands, and growing the Australian e-commerce footprint.
Products & Services
Sells makeup, jewelry, apparel, lingerie, footwear, crockery, diffusers, and bedsheets through an omni-channel platform (website and physical stores).
Brand Portfolio
WomanCart, WomanCart LUXE, Blluex, and 8 home-grown brands in jewelry, lingerie, and clothing.
New Products/Services
Recently launched home brands for diffusers and bedsheets; own-brand jewelry and lingerie are expected to contribute higher margins than third-party OEM brands.
Market Expansion
Expanding domestically via franchise partners and internationally through WomanCart Pty Ltd in Australia; Jaipur facility was recently added to the 2-hour delivery network.
Market Share & Ranking
Positions itself as India's 1st 2-hour fashion delivery platform; industry ranking is not specifically disclosed but it is a first-mover in quick-commerce for fashion.
Strategic Alliances
Holds a 49% stake in WomanCart Pty Ltd (Australia associate) and has 100% ownership in subsidiaries MSV Beautyy Shop and Varadda Overseas.
External Factors
Industry Trends
The industry is shifting toward 'Quick Commerce' for fashion and lifestyle; WomanCart is positioned to lead this trend with its 2-hour delivery infrastructure and omni-channel strategy.
Competitive Landscape
Competes with traditional e-commerce platforms and niche fashion retailers; differentiates through speed of delivery and a curated woman-centric shopping experience.
Competitive Moat
Moat is built on a localized logistics backbone (18,000 sq ft warehouse + local stores) and a 2-hour delivery promise that is difficult for national e-commerce giants to replicate at a local level.
Macro Economic Sensitivity
Highly sensitive to consumer discretionary spending and wedding/festival season cycles in India, which dictate inventory stocking levels.
Consumer Behavior
Shift toward instant gratification and verified genuine brands; WomanCart addresses this with 12,000+ verified SKUs and express delivery.
Geopolitical Risks
International expansion into Australia faces regulatory risks related to e-commerce guidelines and local labor laws in foreign jurisdictions.
Regulatory & Governance
Industry Regulations
Subject to evolving GST norms, e-commerce guidelines, and labor laws; secretarial audit confirmed compliance with the Companies Act 2013 and SEBI Listing Regulations.
Taxation Policy Impact
Effective tax rate was approximately 27.6% in H1FY26, with a current tax expense of INR 2.21 Cr on PBT of INR 8.01 Cr.
Legal Contingencies
Secretarial audit for FY25 reported compliance with statutory provisions; no specific pending high-value court cases or consumer disputes were detailed in the provided documents.
Risk Analysis
Key Uncertainties
Inventory management for 12,000+ SKUs remains the primary uncertainty; a 10-12% return rate impacts logistics costs and working capital efficiency.
Geographic Concentration Risk
High revenue concentration in Delhi NCR and Jaipur; expansion to other Indian metros and Australia is required to diversify geographic risk.
Third Party Dependencies
Dependent on OEM brands and distributors for a significant portion of the 12,000+ SKUs, though own-brand mix is increasing to mitigate this.
Technology Obsolescence Risk
High dependency on digital infrastructure and AI-driven analytics for the 2-hour delivery model; requires continuous investment in cybersecurity and data privacy.
Credit & Counterparty Risk
Receivables quality is generally high due to the B2C nature of the business (cash/prepaid), but B2B/OEM segments carry standard credit risks.
