v mart retail shareholders have approved a final dividend of ₹1 per equity share and reappointed Managing Director Lalit Agarwal at the company’s 24th Annual General Meeting (AGM) held on July 30, 2026. The resolutions were passed with overwhelming support, reflecting strong shareholder confidence in the retailer’s strategic direction following a fiscal year marked by significant revenue growth. The meeting was conducted through video conferencing in compliance with Ministry of Corporate Affairs (MCA) and Securities and Exchange Board of India (SEBI) circulars.

The consolidated voting results, submitted to the National Stock Exchange of India Limited and The BSE Ltd pursuant to Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, show high participation. A total of 65,075,376 valid votes were cast across all resolutions, representing approximately 81.8% of the outstanding shares held by eligible members as of the cut-off date on July 22, 2026. M/s Oberoi & Associates, led by CS Harsh Oberoi, served as the scrutinizer for the e-voting process, which was facilitated by National Securities Depository Limited (NSDL).

Consolidated Voting Results

Shareholders voted on three ordinary resolutions during the AGM. The adoption of audited financial statements and the declaration of the final dividend received near-unanimous support, while the reappointment of Mr. Agarwal saw slightly higher dissent but still passed comfortably with a majority.

Remote e-voting commenced on July 26, 2026, at 9:00 a.m. and concluded on July 29, 2026, at 5:00 p.m. Additional e-voting facilities were available during the AGM for members who had not voted remotely. The scrutinizer’s report confirms that the e-voting system was locked after the chairman fixed the time for closing votes and unblocked only after the conclusion of the meeting, ensuring transparency.

Governance and Financial Context

Lalit Agarwal retires by rotation but is eligible and has offered himself for reappointment. His reappointment received 62,473,265 votes in favor against 2,602,111 votes against. The dissent primarily came from public non-institutional investors, who voted against his reappointment by 56.52%, while promoter and promoter group holders voted unanimously in favor. Institutional investors also showed strong support, with 95.08% voting in favor.

The financial statements for the year ended March 31, 2026, were adopted without any adverse qualifications from the statutory auditor, M/s S.R. Batliboi & Co LLP, or the secretarial auditor, M/s Agarwal S. & Associates. The approval of these financials paves the way for the distribution of the declared dividend, which is subject to regulatory approvals and record date notifications.

What the Numbers Show

The near-unanimous approval of the dividend and financial statements underscores broad shareholder alignment with management’s performance. While there was notable dissent from retail investors regarding Lalit Agarwal’s reappointment, the strong backing from promoters and institutions ensures continuity in leadership. This stability is crucial as V-Mart Retail continues its expansion strategy, having reported ₹3,789 crore in revenue and a 16% year-on-year growth in FY26, alongside an EBITDA margin of 13.6%.

V-Mart Retail has uploaded the recording of its conference call with analysts and investors, which was held on July 27, 2026. The company notified the National Stock Exchange of India Limited and The BSE Ltd on July 28, 2026, confirming that the audio file is now accessible on its official website. This disclosure ensures that stakeholders have equal access to the management’s commentary and responses regarding the company’s performance and outlook discussed during the session.

The filing, bearing reference number CS/S/L-994/2026-27, serves as a follow-up to a previous intimation sent on July 20, 2026 (Ref. No. CS/S/L-986/2026-27). That earlier communication had informed the exchanges about the scheduled conference call date. Megha Tandon, Company Secretary and Compliance Officer of V-Mart Retail Limited, digitally signed the submission on July 28, 2026, at 10:52:52 IST.

Key Details

The recording is hosted directly on the company’s website, allowing investors and analysts to review the discussion at their convenience. V-Mart Retail Limited is listed on both the NSE (Scrip Code: VMART) and the BSE (Scrip Code: 534976). The corporate office is located in Gurugram, Haryana, while the registered office remains in New Delhi.