V-Mart FY26 PAT Surges 171% to ₹1,240 Mn
V-Mart Retail reported a strong FY26 performance with PAT rising 171% to ₹1,240 Mn and revenue increasing 16% to ₹37,894 Mn. EBITDA grew 36% to ₹5,135 Mn with margin expansion. The company added a record 92 stores during the year, achieving 12% SSSG in Q4. The Board recommended a final dividend of ₹1 per share. Management guided for capex of INR170-180 crores for the next year, focusing on expansion and technology.
*this image is generated using AI for illustrative purposes only.
V-Mart Retail Limited's Board of Directors approved the audited standalone financial results for the quarter and year ended March 31, 2026. The company reported a robust financial performance for FY26, with significant improvements in profitability and operational metrics. The Board also recommended a final dividend and provided guidance for the coming year during the earnings conference call.
FY26 Annual Financial Performance
V-Mart Retail delivered strong full-year results for FY26. Revenue from operations grew 16% YoY to ₹37,894 Mn. Gross profit rose 16% YoY to ₹13,031 Mn, with gross profit margin stable at 34.4%. EBITDA expanded 36% YoY to ₹5,135 Mn, with EBITDA margin improving to 13.6% from 11.6%. Profit after tax (PAT) surged 171% YoY to ₹1,240 Mn, with PAT margin expanding to 3.3% from 1.4%. Adjusted PAT grew 507% YoY to ₹1,250 Mn.
| Metric: | FY26 | FY25 | YoY Change |
|---|---|---|---|
| Revenue from Operations: | ₹37,894 Mn | ₹32,539 Mn | +16% |
| Gross Profit: | ₹13,031 Mn | ₹11,241 Mn | +16% |
| GP Margin: | 34.4% | 34.5% | — |
| EBITDA: | ₹5,135 Mn | ₹3,771 Mn | +36% |
| EBITDA Margin: | 13.6% | 11.6% | — |
| Profit After Tax (PAT): | ₹1,240 Mn | ₹458 Mn | +171% |
| PAT Margin: | 3.3% | 1.4% | — |
| Adjusted PAT: | ₹1,250 Mn | ₹206 Mn | +507% |
Q4FY26 Financial Performance
For the quarter ended March 31, 2026, revenue from operations stood at ₹9,709 Mn, up 24% YoY. EBITDA expanded 56% YoY to ₹1,063 Mn, with EBITDA margin improving to 10.9% from 8.7%. Adjusted PAT for the quarter stood at INR 10 crore versus INR -1 crore in Q4FY25. Net profit for the quarter stood at ₹1,128 lakhs.
| Metric: | Q4 FY26 | Q4 FY25 | YoY Change |
|---|---|---|---|
| Revenue from Operations: | ₹9,709 Mn | ₹7,801 Mn | +24% |
| EBITDA: | ₹1,063 Mn | ₹681 Mn | +56% |
| EBITDA Margin: | 10.9% | 8.7% | — |
| Adjusted PAT: | INR 10 Cr | INR -1 Cr | +1101% |
Operational Highlights and Guidance
On the operational front, the company reported its highest ever quarterly new store additions with 29 stores opened in Q4FY26, taking the total count for FY26 to 92 stores. Same Store Sales Growth (SSSG) for Q4FY26 stood at 12%. For the full year FY26, total store count reached 577, and retail space expanded to 5.0 million square feet.
Management provided guidance for the next fiscal year, estimating capex at roughly INR170-180 crores, driven by new store additions, refurbishments, and technology-led investments. The company aims for a net store addition of 13% to 15% annually. Management noted that while raw material inflation poses a challenge, they are mitigating it through vendor negotiations and product mix optimization.
Historical Stock Returns for V Mart Retail
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.01% | +1.88% | +2.95% | -5.84% | -19.69% | -1.84% |
Given that 60-70% of V-Mart's products are polyester-based and crude oil prices have risen 30-35%, how sustainable is the company's strategy of limiting price hikes to 1-1.5% without compressing gross margins further in FY27?
With LimeRoad's NMV declining 25% YoY despite reduced losses, what strategic pivot or investment threshold would determine whether V-Mart continues to operate or divests the digital marketplace segment?
As V-Mart targets 13-15% net store area addition in FY27 with capex increasingly directed toward AI-led technology, which specific operational areas — demand forecasting, inventory management, or personalization — are expected to yield the most measurable efficiency gains?
20
Access 50+ Readymade Screeners 
Use 200+ Custom Filters 
Get Full Market Insights 
