V-Mart Retail Q2FY27 Results: Revenue up 18% YoY to ₹953 crore
- Revenue from operations grew 18% YoY to ₹953 crore in Q2FY27
- Same store sales growth (SSSG) was 3% reported, or 11% adjusted for festive timing shift
- Net addition of 22 stores (23 opened, 1 closed) brings total count to 613
- YTD FY27 revenue rose 21% YoY to ₹2,042 crore
*this image is generated using AI for illustrative purposes only.
V-Mart Retail reported a revenue increase of 18% YoY to ₹953 crore in Q2FY27, alongside a network expansion of 23 new stores.
Store network and revenue performance
The company's topline growth of 18% on a year-on-year basis brought quarterly revenue to ₹953 crore in Q2FY27, up from ₹807 crore in the corresponding quarter last year. Alongside this financial performance, V-Mart Retail expanded its physical footprint during the quarter.
Same store sales and festive impact
The same store sales growth (SSSG) for the quarter stood at 3%, with V-Mart contributing 2% and Unlimited contributing 11%. However, the reported figure was impacted by a shift in the festive calendar. Navratri commenced on October 11, 2026, in the current year, compared to September 22, 2025, in the previous year. This resulted in a 19-day shift in festive dates from Q2 to Q3.
Adjusting for this festive timing shift, the SSSG for the quarter stood at 11%, with V-Mart at 10% and Unlimited at 12%.
Year-to-date performance
For the six months ended September 30, 2026 (YTD FY27), total revenue from operations stood at ₹2,042 crore, compared to ₹1,692 crore in the corresponding period of the previous year. This reflects a year-on-year growth of 21%. The YTD SSSG stood at 6%, with V-Mart at 5% and Unlimited at 12%.
The above revenue numbers are provisional and subject to review by the Statutory Auditors of the Company.
Store expansion highlights
The following table summarises the store expansion details reported for Q2FY27:
| Metric | Details |
|---|---|
| New stores opened | 23 |
| Stores closed | 1 |
| Total operating stores | 613 |
The addition of 23 new stores, net of one closure, brought the total operating store count to 613. The new stores were distributed across multiple states, including seven in Uttar Pradesh, three each in Bihar and Madhya Pradesh, two each in Punjab and Tamil Nadu, and one each in Andhra Pradesh, Goa, Gujarat, Haryana, Rajasthan, and West Bengal.
What the Numbers Show
The divergence between reported SSSG (3%) and adjusted SSSG (11%) highlights the significant impact of the festive calendar shift on quarterly comparability. While headline revenue growth remained robust at 18%, the underlying organic growth appears stronger when normalized for the timing difference in festive sales, which shifted substantially into Q3FY27.
Historical Stock Returns for V Mart Retail
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.01% | -5.15% | -8.97% | +56.35% | +5.11% | -15.92% |
How will the 19-day festive calendar shift impact V-Mart's Q3FY27 revenue visibility and margin structure?
What are the capital expenditure plans and funding sources for sustaining the current pace of 23+ new store openings per quarter?
Can the Unlimited brand's 12% adjusted same-store sales growth be sustained as it scales beyond its initial high-growth phase?
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