Lovable Lingerie Ltd Q3 FY26 – ₹10.53 Cr Sales, ₹0.54 Cr PAT, Inventory Days at 1,043 & Trading at 0.66x Book Value
1. At a Glance – The Lingerie Turnaround or Just Lace & Illusion?
Lovable Lingerie Ltd is currently trading at ₹76.6 with a market cap of just ₹113 Cr. The stock is down 7.75% in the last 3 months and almost 19% in the last year. So clearly, Mr. Market isn’t blushing.
But here’s the masala: Latest Q3 FY26 (December 2025 quarter) numbers show:
Sales: ₹10.53 Cr (up 26.26% YoY)
PAT: ₹0.54 Cr (up 212.5% YoY)
Quarter EPS: ₹0.36
TTM EPS: ₹2.35
Stock P/E: 16.0 vs Industry P/E: 24.8
Price to Book: 0.66 (below book value, hello bargain hunters 👀)
Debt: ₹2.78 Cr (almost debt-free vibes)
ROE: 1.16% (basically sleeping)
ROCE: -1.74% (oops)
On paper, it looks like a “deep value” situation. In reality? We have negative operating margins, crazy inventory days (1,043 days!), and profits boosted by other income of ₹7.05 Cr.
So the big question: Is this a comeback queen… or just well-packaged accounting glamour?
Let’s unzip the numbers.
2. Introduction – The Brand You’ve Seen, The Numbers You Haven’t
Founded in 1987, Lovable Lingerie Ltd (LLL) operates in the women’s innerwear segment. Brassieres, panties, shapewear, nightwear, sportswear — if it fits inside a wardrobe drawer, they probably make it.
They own:
Lovable – Premium segment
Daisy Dee – Mid-market
College Style – Youth segment
They manufacture from three facilities (two in Bengaluru, one in Roorkee) and have an in-house design studio.
Sounds solid.
But here’s the twist: Sales have declined at -22% CAGR over 5 years. Operating margins have turned negative. ROE over 5 years? Almost zero.
This is not a growth story. This is a survival story.
And Q3 FY26 is the first quarter in a while where they’ve posted a positive PAT without drama.
Is this the start of a turnaround — or just a good quarter sandwiched between chaos?
Let’s investigate like a financial detective.
3. Business Model – WTF Do They Even Do?
Lovable Lingerie makes and sells women’s innerwear across price segments.
