Credo Brands Marketing (Mufti)

Credo Brands Marketing Limited shareholders approved key appointments at their 26th Annual General Meeting. Mr. Amer Jaleel was reappointed as Independent Director for a second five-year term starting November 2, 2025. Jaleel, who holds a B.Com degree and previously served as Chief Creative Officer at Lintas Group for 21 years before co-founding digital platform Curativity in 2023, is not related to any company directors. Additionally, M/s. Siroya and BA Associates was appointed as Secretarial Auditors for five years covering financial years 2025-26 to 2029-30. The firm is led by Mr. Mukesh Siroya, who has 26 years of professional experience and serves clients across multiple industries including finance, technology, and manufacturing.

Credo Brands Marketing Limited reported revenue of INR 119.9 crores for the quarter ended June 30, 2025, remaining steady compared to the previous year. The company achieved gross margins of 61.6%, an improvement of 290 basis points year-on-year, while EBITDA margins stood at 25.9% and profit after tax was INR 6.3 crores with a 5.3% margin. The company is implementing a transformation strategy for its Mufti brand, focusing on premiumization through new store designs and enhanced retail experiences. Management plans to open approximately 20 premium stores while closing underperforming locations, maintaining a flat overall store count. The company expects to increase advertising and marketing spend to 6-7% in FY26 and 8-10% in FY27, up from the current INR 5.4 crores in the quarter compared to INR 2.4 crores in the same quarter last year. Digital sales through the company's website have more than doubled year-on-year. Management anticipates flat to low single-digit growth for the full year, citing continued softness in discretionary spending, particularly in Tier 2 and Tier 3 markets, with fashion brands being hit harder than basic apparel brands.

CREDO Brands has outlined an ambitious growth strategy to achieve ₹1,000 crore in sales over the next three years. The company plans to focus on premium products while expanding its presence in tier 2-3 cities. Key initiatives include launching women's wear and enhancing omni-channel capabilities. The retailer aims to double its exclusive brand outlets to over 600 stores. The company intends to maintain strong EBITDA margins through strategic format choices during this expansion phase.