What’s new

• Net profit dropped 62% to ₹1.77 crore, but ₹2.24 crore was a non-recurring listing charge.
• Annual revenue fell 16% to ₹35.70 crore for the year ended March 2026.
• ₹15.20 crore of IPO proceeds have been deployed for retail expansion and working capital.

Why it matters

The headline profit collapse is a red herring. The one-time listing cost is bigger than the final earnings figure, masking a stable underlying business. For a ₹36 crore market-cap company, this accounting detail is the entire valuation adjustment.

What we’re watching

• Whether revenue stabilises in FY27 after the 16% contraction.
• How the remaining IPO cash is deployed for expansion.
• The substance of the related-party transactions approved for next year.

The full read

Marc Loire Fashions reported a 62% drop in net profit to ₹1.77 crore. The number looks alarming until you see the cause. A ₹2.24 crore one-time charge for listing costs was pushed through 'Other Expenses'. That charge alone is bigger than the reported profit. Excluding it, the core business held up despite a 16% revenue decline to ₹35.70 crore. The company also confirmed it has spent ₹15.20 crore of its IPO cash on stores and working capital. For a nano-cap with a ₹36 crore market capitalisation, the accounting distortion completely changes the valuation picture. The board renewed its Canara Bank credit lines and approved next year's related-party deals. But the filing's real signal is about earnings quality. The business is smaller, but it isn't bleeding.

Primary source: BSE · NSE