V Mart Retail Limited reported a 10% year-on-year rise in revenue for Q3FY26, even as same-store sales remained flat due to shifts in festive timing. The value fashion retailer announced total revenue from operations of ₹1,126.00 crores compared to ₹1,027.00 crores in the corresponding quarter of the previous year.

Financial Performance Overview

The company's Q3FY26 results show steady operational progress despite seasonal variations. Same store sales growth (SSSG) stood at 0% for the V-Mart format during the quarter, while the Unlimited format recorded SSSG of 2%. The performance was affected by a shift in sales due to a larger share of Durga Puja moving to Q2 in the current year versus the previous year.

Combined Quarter Performance

Adjusting for festive timing impact, the company's combined performance across Q2 and Q3 showed SSSG of 5% and total revenue growth of 15%, pointing to underlying demand traction. This normalized view removes the distortion from festive timing variations and indicates stronger business momentum.

Store Expansion Strategy

During Q3FY26, V-Mart Retail opened 23 new stores while closing 2 stores. Year-to-date, the retailer has added 63 stores and closed 6, taking its total store count to 554 as of the end of December.

Geographic Distribution of New Stores

The 23 new stores opened during the quarter were strategically distributed across multiple states. Uttar Pradesh led with 5 new stores, followed by Gujarat with 4 stores, and Bihar with 3 stores. Haryana, Madhya Pradesh, and Tamil Nadu each received 2 new stores, while Delhi, Chhattisgarh, Uttarakhand, Jharkhand, and Punjab each got 1 new store.

Stock Performance

Shares of V-Mart Retail Limited ended 1.17% higher at ₹706.00 ahead of the business update announcement. However, the stock has declined 10.10% over the past month. The revenue figures are provisional and subject to review by the company's statutory auditors, as disclosed under SEBI Listing Obligation and Disclosure Requirements, Regulations, 2015.

V-Mart Retail Limited has disclosed receiving a GST demand order for the Financial Year 2021-22 under regulatory compliance requirements. The company has stated its intention to appeal the assessment.

Regulatory Compliance Details

The disclosure was made pursuant to Regulation 30 read with Clause 20 of Para A of Part A of Schedule III of SEBI Listing Regulations, 2015. The company followed the prescribed format as outlined in SEBI Circular no. SEBI/HO/CFD/CFDPoD-1/P/CIR/2023/123 dated July 13, 2023, and SEBI Circular no. SEBI/HO/CFD/CFD-PoD-2/P/CIR/2025/25 dated February 25, 2025.

GST Order Information

The filing provides details about the GST demand order through Annexure-A, which contains the material contents of the communication received by the company. The order pertains to the Financial Year 2021-22 and has been assessed by the relevant assessing officer under the GST Act, 2017.

Company Response

V-Mart Retail Limited has indicated that it plans to appeal the demand order through the appropriate appellate authority. This represents the company's approach to addressing such regulatory communications through the prescribed legal channels.

Filing Authority

The disclosure was signed by Megha Tandon, Company Secretary and Compliance Officer of V-Mart Retail Limited, ensuring proper authorization and compliance with corporate governance requirements. The filing was submitted to both the National Stock Exchange of India Limited and BSE Limited, where the company's shares are listed, maintaining transparency with all stakeholders.

This regulatory filing demonstrates the company's commitment to maintaining proper disclosure standards and keeping investors informed about material developments as required under securities regulations.