Brands
Stanley Lifestyles posts 6.2 per cent gross profit growth in 9M FY26
Luxury furniture retailer flags near-term pressure on margins as expansion and depreciation dent profits
BENGALURU: Stanley Lifestyles Ltd, the home-grown luxury and super-premium furniture maker, delivered a resilient rise in gross profits for the first nine months of FY26, even as store expansion and softer demand squeezed quarterly earnings and pushed the December quarter into the red.
The company, incorporated in 2007, reported unaudited results for the quarter and nine months ended December 31, 2025, showing a business balancing growth ambitions with near-term cost pressures.
Quarter under pressure
Revenue from operations in Q3FY26 slipped 5.4 per cent year on year to Rs 1,038 mn from Rs 1,097 mn, as demand softened in the premium furniture segment.
Gross profit stood at Rs 618 mn, down 3.1 per cent, but margins improved to 59.5 per cent from 58.2 per cent, a 130 bps expansion driven by product mix.
The real drag came lower down the profit and loss statement. EBITDA fell 39.5 per cent to Rs 124 mn, with margins shrinking 680 bps to 11.9 per cent.
The quarter closed with a net loss of Rs 2 mn against a profit of Rs 89 mn a year earlier. Higher depreciation, rising finance costs and expenses linked to new stores that are yet to reach optimal utilisation weighed on the bottom line.
Nine-month picture steadier
For 9M FY26, revenue rose a modest 1.4 per cent to Rs 3,179 mn, reflecting what the company described as evolving consumer preferences and a tilt towards value-oriented buying.
Gross profit climbed 6.2 per cent to Rs 1,857 mn, while gross margins expanded 260 bps to 58.4 per cent, helped by a sharper product mix and operating efficiencies.
EBITDA for the period inched up 1.1 per cent to Rs 597 mn, though margins were nearly flat at 18.8 per cent.
Profit after tax fell 26.1 per cent to Rs 136 mn from Rs 184 mn, again due to higher depreciation and finance costs tied to retail expansion and growth investments.
Betting on scale and standards
Sunil Suresh, managing director, said the gross profit growth underlined the strength of the brand and operating model, even as investments in leadership and retail footprint inflated near-term costs. He pointed to improving handovers and a healthy order pipeline as grounds for confidence in coming quarters.
The company also secured certification for both its manufacturing units from the Bureau of Indian Standards, a timely move as the Furniture Quality Control Order is expected to be implemented by the end of the financial year. Compliance, Suresh argued, could translate into a competitive edge as regulation tightens.
Luxury pitch
Stanley operates across brands such as Stanley Level Next, Stanley Boutique and Sofas & More, spanning sofas, recliners, beds, cabinetry and interior solutions.
Its vertically integrated model covers design, manufacturing and retail, with two Bengaluru facilities spread over more than 300,000 sq ft. A network of 68 outlets across major cities, run through both company-owned and franchise formats, gives it national reach in the ultra-luxury to super-premium segments.
The strategy now is to deepen the COCO network, push design-led collections and ride the long-term premiumisation wave in Indian homes.
For now, Stanley’s story is one of investment ahead of returns. The near term looks bruised, but the company is wagering that scale, standards and a taste for luxury will eventually do the talking. In India’s aspirational living rooms, it is playing the long game.
Brands
Angel One Q4 profit surges 83 per cent to Rs 320cr
year net profit dips 22 per cent to Rs 915cr as revenue softens slightly to Rs 5,137cr.
MUMBAI: Angel One has just earned its wings in style delivering a blockbuster Q4 that proves the brokerage giant is still flying high even in a cautious market. Standalone revenue from operations for the three months ended 31 March 2026 rose sharply to Rs 1,459cr, up from Rs 1,056cr a year ago. Total income stood at Rs 1,467cr. After all expenses, profit before tax came in at Rs 440cr, while net profit for the quarter surged 83 per cent to Rs 320cr (versus Rs 175cr last year). Basic EPS stood at Rs 3.52 and diluted at Rs 3.44.
For the full year ended 31 March 2026, revenue from operations was Rs 5,137cr compared with Rs 5,238cr in FY25. Total income reached Rs 5,152cr. Profit before tax was Rs 1,272cr, and net profit came in at Rs 915cr (down from Rs 1,172cr). Basic EPS was Rs 10.09 (from Rs 13.00) and diluted Rs 9.85 (from Rs 12.68).
Total comprehensive income for the quarter stood at Rs 321cr, while the full-year figure was Rs 913cr.
The strong quarterly performance reflects robust growth in interest income (Rs 455cr) and fees & commission (Rs 1,000cr), even as the full-year numbers moderated amid a softer overall environment. Finance costs rose to Rs 134cr in Q4 (full year Rs 437cr), while employee benefits stood at Rs 244cr for the quarter (full year Rs 1,067cr).
In a year when many brokers felt the pinch of muted market activity, Angel One has delivered a sparkling Q4 that shows its core broking engine is firing on all cylinders. With the books now closed on FY26, the Mumbai-based player has once again demonstrated that consistent execution and a sharp focus on retail participation continue to pay rich dividends in India’s booming capital markets.
