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V-Mart Retail Ltd

Q2 FY26

V-Mart Retail Q2 FY26 earnings call: Revenue & Margins

Q2 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹791

Market cap₹6.3K Cr

P/E45.4

Updated16 Oct 2026

Read5 min read

The short version

The company expects mid to high single-digit same-store sales growth (SSSG) for the full year, with approximately 5% SSSG in the first half and similar in the second half. The company aims for sustainable growth year on year for the next 5-7 years, focusing on strong organizational fundamentals (Page 21).

From V-Mart Retail Ltd's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.

Revenue & Sales Performance

The company expects mid to high single-digit same-store sales growth (SSSG) for the full year, with approximately 5% SSSG in the first half and similar in the second half.
Total revenue growth was 22% in the recent quarter with strong new store additions (40 in the first half, 25 more added recently) and plans to open around 70-75 stores by year-end.
There is optimism about growth driven by tier 4/rural markets, which are showing good response and growth potential, although sustainability is uncertain.
New initiatives like cosmetics and artificial jewelry are in pilot phases, contributing 1.5-2% sales in some stores, with plans to expand to 50% of stores by year-end next year.

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Profitability & Margins

The company aims for sustainable growth year on year for the next 5-7 years, focusing on strong organizational fundamentals (Page 21).
Mid to high single-digit same-store sales growth (SSSG) is maintained as a guidance for the full year, with 5% reported in the first half and a similar expectation for the second half (Pages 14-15).
Marginal improvement in full-year EBITDA margin over last year is expected with mid-single-digit SSG; better growth could improve operating leverage and profitability (Page 13).
Expansion through new store openings (75+ in the year) is expected to drive growth (Page 8).

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Capital Expenditure Plans

V-Mart Retail Limited spent ₹30 crores in the quarter mainly on new store openings and refurbishments of existing stores (Page 9).
The company plans to open around 70-75 new stores this year, focusing on mindful expansion with attention to profitability (Page 7).
Limited aggressive expansion for the Unlimited brand due to unattractive property prices; selectively targeting profitable locations especially in select states (Page 10).
Investments in supply chain and logistics agility, including AI and technology-led initiatives to enhance productivity, efficiency, and personalized merchandising (Page 6).

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Fundraising & Capital Structure

The document does not provide any explicit information regarding current or future fundraising plans through debt or equity for V-Mart Retail Limited. Key points relevant to financial strategy include: - Focus on sustainable growth and profitability. - Expansion plans include opening around 70-75 new stores this year. - Improvement in free cash flow generation (27 crores YTD vs. negative 63 crores last year).

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Order Book & Pipeline

The provided transcript from V-Mart Retail Limited's Q2 FY26 earnings call does not mention any details about the current or expected order book or pending orders. The discussion primarily revolves around: - Store expansion plans (expected 75 new stores by year-end) - Sales performance, including same-store sales growth (SSSG) - New initiatives in cosmetics and artificial jewelry - Inventory management and gross margins

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V-Mart Retail Ltd — Quarterly revenue & net profit

Revenue Net profit Net loss

Dec 2024Q3 FY25

Mar 2025Q4 FY25

Jun 2025Q1 FY26

Sep 2025Q2 FY26

Dec 2025Q3 FY26

Mar 2026Q4 FY26

Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹971 Cr, net profit ₹11 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What V-Mart Retail's management said in earlier quarters

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Frequently Asked Questions

What were V-Mart Retail Ltd Q2 FY26 results?

The company expects mid to high single-digit same-store sales growth (SSSG) for the full year, with approximately 5% SSSG in the first half and similar in the second half. The company aims for sustainable growth year on year for the next 5-7 years, focusing on strong organizational fundamentals (Page 21).

What is V-Mart Retail Ltd share price analysis?

V-Mart Retail Ltd currently shows a neutral. The stock trades at a P/E of 45.4 with a market cap of ₹6,292 Cr. Investors should review the full earnings analysis for detailed insights.

Is V-Mart Retail Ltd planning capital expenditure?

V-Mart Retail Limited spent ₹30 crores in the quarter mainly on new store openings and refurbishments of existing stores (Page 9). - The company plans to open around 70-75 new stores this year, focusing on mindful expansion with attention to profitability (Page 7). - Limited aggressive expansion for the Unlimited brand due to unattractive property prices; selectively targeting profitable locations especially in select states (Page 10). - Investments in supply chain and logistics agility, including AI and technology-led initiatives to enhance productivity, efficiency, and personalized merchandising (Page 6). - Focus on increasing store freshness and reducing inventory density to improve turnaround (Page 7). - No explicit mention of any large-scale future capex but ongoing store expansions and supply chain improvements indicate continued strategic investments.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.