| Management target | Revenue 50.0% FY27 |
|---|
| Revenue growth | Revenue grew 28% YoY in Q2, entirely volume-driven expansion. |
|---|---|
| Margins | Gross margins improved 310 bps to 31.1% via better mix. |
| Demand visibility | High visibility for Q3 due to festive and wedding season. |
| Management confidence | Aggressive and optimistic, emphasizing long-term gain over short-term metrics. |
Growth
Volume-led 28% revenue growth in Q2; H1 revenue up 42% YoY.
Outlook
Targets 60-70 new stores in H2; expects strong Q3 recovery with winter/festive sales.
Risks
High inventory and debt levels for expansion; weak SSG of -14.9% due to festive shifts.
Last quarter's promises, checked
Delivered
- GM 29–30% → Q2 31.1% (= BEAT)
Partly delivered
- 170–200 stores FY27 → H1 106, H2 target 60–70 (= PARTIAL)
- Revenue ≥50% FY27 → H1 +42% (= PARTIAL)
Missed
- SSSG 8–10% → Q2 -14.9% (= MISS)
- Accruals fund expansion, ₹150–200 Cr release → debt ₹528 Cr (= MISS)
Earnings Call Transcript filed with NSE, NSE: V2RETAIL. Summary written with AI assistance from the document.
V2 Retail Ltd: key numbers
- Share price
- ₹147.99
- Market cap
- ₹5,396 Cr
- Revenue (annual)
- ₹3,067 Cr
- Net profit (annual)
- ₹162.1 Cr
- P/E (TTM)
- 30.0×Sector 63.3×
- Promoter holding
- 51.43%+0.00% QoQ
- FII holding
- 3.69%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from V2 Retail Ltd
All →V2 Retail Partnership
V2 Retail signed a long-term exclusive partnership giving Cupid 400 sq ft across 425+ stores and future stores. Products are targeted network-wide by mid-December 2026.
- Execution
- Long-term, with supply targeted across the network by mid-December 2026
V2 Retail Results Update
V2 Retail issued a press release on its unaudited Q2 and H1 FY27 results. Revenue rose 42% in H1 to ₹1,902.8 crore, with EBITDA up 50%.
V2 Retail Investor Presentation: Key Takeaways
Q2 FY27 consolidated revenue ₹905.6 Cr (+28%), EBITDA ₹120.3 Cr (13.3% margin), PAT ₹18.2 Cr (+6%). H1 revenue ₹1,902.8 Cr (+42%), PAT ₹60.1 Cr (+43%). Store-led expansion continues.
V2 Retail Q2 FY27 Results: Net Profit ₹18.2 Cr, Up 5.8% YoY
V2 Retail Ltd reported revenue from operations of ₹905.6 Cr (+27.8% YoY) and net profit of ₹18.2 Cr (+5.8% YoY) for Q2 FY27.
- Key figure
- Net profit ₹18.2 Cr · +5.8% YoY
V2 Retail Board Meeting Date
V2 Retail scheduled a board meeting for November 3, 2026 to consider Q2/H1 unaudited results. The trading window closes from October 1, 2026 until 48 hours after results.
V2 Retail Other Announcement
V2 Retail Limited has submitted its quarterly shareholding pattern for the period ended September 30, 2026, as required under SEBI regulations.