V2 Retail reported a 60% year-on-year revenue growth to ₹797 crores for the quarter ended March 31, 2026 (Q4FY26). The company’s EBITDA for the quarter stood at ₹109 crores, an 89% increase from the corresponding period last year, with margins expanding to 13.7%. Profit after tax (PAT) for the quarter reached a record ₹17.5 crores compared to ₹6.4 crores in the previous year. The financial results were disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

For the full financial year FY26, revenue grew 63% to ₹3,067 crores. EBITDA for the year increased 77% to ₹455 crores, while PAT rose 125% to ₹162 crores. The company’s return on equity (ROE) improved to 26% from 23.2% in FY25. The management attributed the performance to analytics-driven merchandising, supply chain responsiveness, and operational discipline.

Operational Highlights

During FY26, V2 Retail focused on expanding its geographic coverage, particularly in rural markets and Tier-2 and Tier-3 cities. The company added a net of 136 stores, bringing its total store count to 325 with approximately 3.5 million square feet of retail space. Same-store sales growth (SSSG) for Q4FY26 was 7.74%, while full-year SSSG stood at approximately 8.6%. The company guided for a store addition of 170-200 in FY27.

Strategic Updates

The management confirmed that the company has shifted focus entirely to the retail business, moving away from in-house manufacturing operations. To mitigate geopolitical tensions and supply chain disruptions, the company increased its safety stock in March, resulting in higher inventory levels. The target is to maintain inventory at 90-100 days and creditors at 45 days. Additionally, the company resolved an earlier audit qualification by writing off assets with a carrying value of ₹5.77 crores following physical verification.

Looking ahead, the company aims to sustain its momentum with a target of at least 50% revenue growth over the next two years. The management emphasized that price increases of 3%-4% due to rising raw material costs would be passed on to customers to maintain gross margins between 28%-30%. The transcript of the earnings call conducted on May 29, 2026, has been uploaded to the company’s website.

V2 Retail Limited has reported a net profit of ₹162.1 crore for the financial year ended March 31, 2026, a 125% increase from ₹72 crore in the previous year. Revenue from operations surged to ₹3,067.1 crore from ₹1,884.5 crore year-on-year, driven by robust business momentum and store expansion. EBITDA climbed 77% to ₹455.5 crore, with margins improving to 14.9%. The audited financial results were reviewed by the Audit Committee and approved by the Board of Directors on May 28, 2026. The company also filed an investor presentation for Q4 FY 2025-26 pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

FY26 Financial Performance

The company delivered strong growth across key financial metrics during the year. The following table summarises the annual performance:

The substantial increase in profitability was supported by improved operational efficiency and a significant expansion in the top line. Gross margin for FY26 stood at 30.2%, compared to 29.3% in the prior year.

Q4 FY26 Performance

For the quarter ended March 31, 2026, revenue from operations stood at ₹797 crore, registering a growth of 60% year-on-year. Net profit for the quarter rose 172% to ₹17.5 crore, while EBITDA increased 89% to ₹109.1 crore. The EBITDA margin for Q4 FY26 improved to 13.7% from 11.6% in the corresponding period of the previous year.

Operational Highlights

V2 Retail expanded its footprint significantly during the year. As on March 31, 2026, the company operates 325 stores with a total retail area of approximately 35.35 lac sq. ft. The company opened 139 stores and closed 3 stores in FY26. Same Stores Sales Growth (SSSG) for FY26 stood at approximately 8.6%, with robust volume growth of 47%. Full price sales contributed 90% to the total sales in FY26.

Key Developments

The company raised approximately ₹400 crore via the Qualified Institutional Placement (QIP) route from marquee institutional investors. Commenting on the performance, Ram Chandra Agarwal, Chairman & Managing Director, highlighted the exceptional momentum and revenue growth exceeding 60% over the last two financial years, alongside marked improvement in operating performance.