Purple United Sales Revenue Jumps 65% to ₹170 Cr in FY26
Purple United Sales Limited released the transcript of its earnings call for the half-year and full year ended March 31, 2026. The company reported a 65% YoY increase in revenue from operations to ₹17,063.21 lakhs and a 76% jump in EBITDA to ₹3,658.80 lakhs. Operational highlights include the expansion of the retail network to 111 EBOs and a strategic shift towards retail and D2C channels, which now contribute 40% of the business. The company also detailed the utilization of IPO proceeds and affirmed its target to double store count in the coming year.
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Purple United Sales Limited has released the transcript of its earnings call for the half-year and full year ended March 31, 2026. The call was held with investors and analysts on May 15, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Management discussed the company's operational and financial performance, highlighting significant expansion and profitability improvements.
Financial Performance Overview
Purple United Sales delivered robust growth in revenue and profitability for the full year ended March 31, 2026. Total income for the full year reached ₹17,153.45 lakhs, compared to ₹10,315.51 lakhs in the previous year. Revenue from operations for the full year stood at ₹17,063.21 lakhs, up from ₹10,312.75 lakhs. EBITDA grew by 76% to ₹3,658.80 lakhs from ₹2,073.07 lakhs, while Net Profit After Tax increased by 45% to ₹1,519.45 lakhs from ₹1,047.44 lakhs. The following table summarises the key financial metrics:
| Metric: | H2 FY26 (Mar 31, 2026) | H2 FY25 (Mar 31, 2025) | YoY % | FY26 (Full Year) | FY25 (Full Year) | YoY % |
|---|---|---|---|---|---|---|
| Revenue from Operations: | ₹10,990.45 lakhs | ₹7,262.65 lakhs | 51% | ₹17,063.21 lakhs | ₹10,312.75 lakhs | 65% |
| Total Income: | ₹11,051.35 lakhs | ₹7,263.47 lakhs | 52% | ₹17,153.45 lakhs | ₹10,315.51 lakhs | 66% |
| Total Expenses: | ₹8,680.77 lakhs | ₹5,903.55 lakhs | 47% | ₹13,494.66 lakhs | ₹8,242.44 lakhs | 64% |
| EBITDA: | ₹2,370.58 lakhs | ₹1,359.92 lakhs | 74% | ₹3,658.80 lakhs | ₹2,073.07 lakhs | 76% |
| Net Profit After Tax: | ₹1,014.14 lakhs | ₹718.17 lakhs | 41% | ₹1,519.45 lakhs | ₹1,047.44 lakhs | 45% |
Operational Highlights
The company expanded its retail network to 111 Exclusive Brand Outlets (EBOs) as of April 30, 2026, up from 86 at the end of H1 FY26 and 43 as of March 31, 2025. This expansion was supported by a cluster-led rollout strategy. The retail footprint spans 1.65 lakh square feet across 22 states and 50 plus cities. CRISIL Ratings assigned a long-term rating of BBB-/Stable on the company's bank loan facilities. The company highlighted footwear as a margin accelerator, delivering apparel-like margins by leveraging existing store space.
Strategic Initiatives and Outlook
Management emphasized a strategic shift towards controlled business channels, specifically retail and D2C, which now contribute 40% and are projected to exceed two-thirds of the total business. The company revamped its website to the Shopify platform, resulting in a 59% quarter-on-quarter revenue growth in e-commerce. Average Selling Prices (ASPs) in the D2C business increased by 35-40%. The company aims to double its store count in the coming year, targeting over 200 stores, and is exploring AI-oriented predictive tools for retail planning.
Balance Sheet and IPO Proceeds
The company's total assets as at March 31, 2026 stood at ₹23,197.33 lakhs, compared to ₹13,110.43 lakhs as at March 31, 2025. Shareholders' funds increased to ₹7,572.68 lakhs from ₹6,053.22 lakhs. Regarding IPO proceeds, the company received gross proceeds of ₹3,281.04 lakhs, with net proceeds of ₹2,893.01 lakhs. The statutory auditors confirmed no deviation from the objects stated in the offer document. The utilisation of IPO proceeds as at March 31, 2026 is summarised below:
| Object: | Projected Utilisation (₹ Lakhs) | Actual Utilisation till Mar 31, 2026 (₹ Lakhs) |
|---|---|---|
| Issue Expenses: | 388.03 | 388.03 |
| Working Capital Requirements: | 1,800.00 | 1,800.00 |
| Expenditure for Opening New Stores: | 535.40 | 535.40 |
| General Corporate Purpose: | 557.61 | 557.26 |
| Total: | 3,281.04 | 3,280.69 |
The remaining unutilised amount of ₹0.35 lakhs is held in an Escrow account maintained with Axis Bank Ltd.
Historical Stock Returns for Purple United Sales
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +5.00% | -4.76% | +43.27% | -16.90% | +32.68% | +89.45% |
Can Purple United Sales sustain its 65% revenue growth trajectory as it scales toward 200+ stores, or will margin compression emerge from accelerated expansion costs?
How will the company fund its store doubling target beyond IPO proceeds, and is a follow-on equity raise or debt financing being considered?
As D2C and retail channels approach two-thirds of total business, what is the exit strategy for wholesale/distributor partnerships and how might channel partners respond?
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