V Mart Retail Limited, a prominent player in the Indian retail sector, has announced a significant change in its senior management structure. Mr. Ramesh Kumar Agarwal, who held the position of Vice President of Supply Chain Management and was designated as a Senior Management Personnel (SMP), has superannuated from the company.

Key Details of the Superannuation

Regulatory Compliance

V-Mart Retail Limited has adhered to regulatory requirements by making this announcement in accordance with Regulation 30 of the SEBI Listing Regulations. The company filed an intimation with the stock exchanges, providing details of the change in senior management.

Impact on Company Structure

The superannuation of Mr. Agarwal represents a change in the company's senior management composition. As the Vice President of Supply Chain Management, his role was crucial in overseeing the company's supply chain operations, a vital aspect of the retail business.

Company's Disclosure

V-Mart Retail Limited has ensured transparency by making this information available on the company's official website ( www.vmart.co.in ). This move aligns with best practices in corporate governance and keeps shareholders and stakeholders informed about significant changes within the organization.

The company has not announced any immediate replacement for the position. As the retail sector continues to evolve, especially in supply chain management, the company's strategy for this key role will be of interest to investors and industry observers alike.

This development marks the conclusion of Mr. Agarwal's tenure with V-Mart Retail Limited.

V Mart Retail , a prominent player in the Indian retail sector, has reported robust growth and expansion in the second quarter. The company's performance highlights its strategic focus on market penetration and product diversification.

Key Highlights

Growth and Expansion

V-Mart Retail demonstrated strong performance in Q2, achieving a 22% total growth rate. The company's like-to-like sales growth stood at 11%, indicating healthy performance in existing stores.

In line with its expansion strategy, V-Mart opened 25 new stores during the quarter, marking its highest quarterly store addition. The company plans to continue this momentum, aiming to add a total of 75 stores for the full fiscal year.

Financial Performance

V-Mart maintained its gross margins at 33.6%, showcasing its ability to manage costs effectively despite the expansion drive. The company's offline business achieved a positive EBITDA of 8.9%, reflecting operational efficiency.

Strategic Initiatives

The retailer is actively expanding its presence in southern India, tapping into new markets for growth. Additionally, V-Mart is diversifying its product range by introducing new categories such as cosmetics and artificial jewelry, potentially appealing to a broader customer base.

This multi-pronged approach of geographical expansion, store network growth, and product diversification positions V-Mart Retail to capitalize on the evolving Indian retail landscape.