V2 Retail Limited has informed the Exchange about Transcript
V2RETAIL · price
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V2 Retail reported strong Q1 FY26 results with revenue of INR632.2 crores, up 52% year-on-year, and net profit of INR30.6 crores (consolidated), up 62% year-on-year. EBITDA grew 63% to INR52.5 crores with margin expanding to 8.3% from 7.8%, and gross margin improved to 29.4% from 28.8%. Same-store sales growth was 5% (10% normalized for an early Eid shift), while ROE improved sharply to 27.5% from 23% in FY25. The company added 28 stores in Q1, taking the total to 216 (now 225), and is on track to open 100-120 stores in FY26. Management is planning a INR400 crore QIP to become debt-free, accelerate store expansion, improve vendor terms, and invest in technology and supply chain. New store productivity is tracking well, breaking even from month one at INR800/sq ft versus the old store benchmark of INR1,100/sq ft.
Strong quarterly beat across all metrics and clear forward guidance of 50% revenue growth, 8-10% SSSG, and 10% EBITDA margin target within 2 years are positive for the stock. The proposed QIP, though dilutive, will fund aggressive expansion and make the company debt-free, supporting long-term ROE. Near-term overhang from dilution risk may cap upside until the QIP is priced and deployed.