Arthneeti

V2 Retail Q1 FY27 Share Price & Earnings Call Analysis

₹154.71-0.47% today
Market cap
₹5,634 Cr
P/E
34.41
ROE
23.67%
PEG
0.26
Price to sales
1.64
Debt to equity
1.10
52W high / low
₹2,496 / ₹151
Sales growth (5Y)
41.60%
EBITDA margin
15.03%
Net profit margin
4.82%
Promoter holding
51.43%
Sales (last year)
₹3,428 Cr

Company primarily operates in Tier-II and Tier-III cities, with a chain of “V2 Retail” stores offering apparel and general merchandise, catering to the entire family.[1]

Guidance scorecard · Q1 FY27 call

What V2 Retail Ltd's management guided
and where it ranks in Retailing

#1of 29 in
Retailing
Revenue40%+MarginsFlatCapexPlannedFundraisingPlannedOrder bookWhat management said

RevenueQ1 FY27 call

40%+
  • V2 Retail targets a revenue growth of at least 50% CAGR for the next 2 to 3 years.
  • Plans to open 170 to 200 new stores annually to drive volume growth.
  • Same-store sales growth (SSSG) guidance is maintained at 8% to 10% for the financial year.
  • New stores currently operate at about 65% to 70% of mature store levels but expected to mature and grow faster over 3-4 years.
  • Focus on expanding store network with an aim to reach and exceed current mature store sales per square feet.
  • Expect operating leverage and EBITDA margin expansion as growth normalizes.

2 more points from V2 Retail Ltd's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what V2 Retail Ltd said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • V2 Retail plans to continue expanding its store network aggressively, targeting the opening of 170 to 200 stores in the current fiscal year.
  • The company is capitalizing on internal accruals for this expansion and does not plan to raise fresh capital via QIP as of now.
  • Inventory buildup is significant, with approximately INR100-150 crores invested in inventory ahead of new store openings each quarter.
  • Focus on disciplined store expansion ensuring sustainable returns while managing working capital prudently.
  • Investments in technology, including AI-driven workflows and AI-enabled CCTV for customer experience, are ongoing.

2 more points from V2 Retail Ltd's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

Planned

See what V2 Retail Ltd said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

  • Inventory for new stores is procured and stocked about 2 months before store openings to ensure variety (approx. 3,000 options per store).
  • Opening 50-55 new stores per quarter requires INR100-150 crores worth of inventory to be in the system in advance.
  • Future purchase orders (POs) for the third quarter have price escalations factored in (4%-5% increase) due to raw material cost rise.
  • Thus, inventory procurement and order planning are closely aligned with store rollout schedules and expected demand.
Full Q1 FY27 analysis
Full Retailing ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Retailing
on management's own guidance

  1. Strong growth
    2
  2. This stockV2 Retail LtdStrong growth
    1
  3. Entero Healthcare Solutions LtdGood growth
    3
See all potential multibaggersAll Retailing rankings

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Retailing companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
1V2 Retail LtdThis stock40%+Flat₹6,264 Cr38.2
240%+Flat₹6,053 Cr53.9
3Entero Healthcare Solutions Ltd20–40%Up 0–2%₹6,899 Cr53.5
420–40%Up 0–2%₹790 Cr19.0
520–40%Flat₹3.14L Cr725.0
620–40%Flat₹1.12L Cr170.8

Sign up free to see every company in the sector ranking and track V2 Retail Ltd.

Pro shows every company guiding 40%+ revenue growth →Full Retailing ranking

Financials of V2 Retail Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of V2 Retail Ltd

Quarterly Results

Quarter-by-quarter operating performance

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales +240193264231374296415380591499632709929
Expenses +202179228211313265360347479441545623755
Operating Profit3814362061315533111588785174
OPM %16%7%14%9%16%11%13%9%19%12%14%12%19%
Other Income +22123113121132
Interest1091012121314151821232822
Depreciation18171818211921232628323846
Profit before tax12-108-831022-269103321138
Tax %26%-25%26%-33%25%-7,100%25%-20%25%38%26%18%26%
Net Profit +9-86-624416-25162517102
EPS in Rs0.27-0.220.18-0.160.680.100.47-0.061.480.190.710.502.80

Financials of V2 Retail Ltd

Profit & Loss

Annual income statement trend

Mar 2009Mar 2010Mar 2012Mar 2013Mar 2014Mar 2015Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales +1,3231,105421092292877015386298391,1651,8842,769
Expenses +1,3261,565521082232586244885627531,0161,6242,364
Operating Profit-3-460-9152877506785149260404
OPM %-0%-42%-21%1%2%10%11%9%11%10%13%14%15%
Other Income +9-41112215231677636
Interest98918791033333942497094
Depreciation49473232515659677799143
Profit before tax-140-639-19-7-5189-15-15-173198203
Tax %-33%-35%81%-26%-18%47%-1%-16%-21%-24%11%27%
Net Profit +-94-415-35-5-4109-13-12-132872150
EPS in Rs-4.22-18.54-1.55-0.24-0.190.410.26-0.38-0.34-0.370.802.084.20
Dividend Payout %0%0%0%0%0%0%0%0%0%0%0%0%

Financials of V2 Retail Ltd

Balance Sheet

Capital structure and asset base

Mar 2009Mar 2010Mar 2012Mar 2013Mar 2014Mar 2015Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital22222222222434343434353535
Reserves155-255252247240251245235224213240312352
Borrowings +751766577184693263963984245258501,312
Other Liabilities +15224511283961115148136123227403688
Total Liabilities1,0807783433683854057218137927931,0271,5992,387
Fixed Assets +2712227914183393953944084808631,320
CWIP6001014500044
Investments00333231300000000
Other Assets +8035573033263403553784143983855477321,063
Total Assets1,0807783433683854057218137927931,0271,5992,387

Financials of V2 Retail Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2009Mar 2010Mar 2012Mar 2013Mar 2014Mar 2015Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity +-6557-38-121235743598693223
Cash from Investing Activity +-1085-1-4-7-67-20-16-12-39-131
Cash from Financing Activity +133-6668-4-30-28-22-58-76-50-93
Net Cash Flow-41-4-33-80-152-39-15-25-0
Free Cash Flow-17562-35-1652963-2443735694
CFO/OP2,236%-12%424%-1,155%219%123%96%7%86%100%63%95%

Financials of V2 Retail Ltd

Ratios

Working capital efficiency and return ratios

Mar 2009Mar 2010Mar 2012Mar 2013Mar 2014Mar 2015Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days114000001000
Inventory Days26664187207118141156308264184199159
Days Payable385291114606375134108709292
Cash Conversion Cycle230131009358798117415611410766
Working Capital Days16313-265-59-32-27407270514219
ROCE %-5%-68%0%1%8%3%4%4%11%17%

Guidance history

How V2 Retail Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →40%+FlatPlannedPlanned—
Q4 FY26 call →40%+FlatPlannedPlanned—
Q3 FY26 call →40%+FlatPlannedPlanned—
Q2 FY26 call →40%+FlatPlannedPlanned—

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

14out of 100

Momentum score · price trend

14 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−24.7%31%
Last 6 months−11.2%34%
Last 3 months−22.3%12%

The price is 33% below its all-time high of ₹256.4 (4 Jun 2026). Stocks more than 20% below their peak have their score halved, so 28 became 14.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For V2 Retail Ltd: 0.4 × 31 + 0.4 × 34 + 0.2 × 12 = 28, halved to 14 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 16 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

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What V2 Retail Ltd's management said in earlier quarters

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