V2 Retail Limited (V2RETAIL)

Consumer Services · Retailing · NSE · Updated 15 July 2026

₹219.95 ↓ 88.46% (1Y)

🎯 Key Takeaways

V2 Retail Limited is in a high-growth, scaling phase with a clear focus on expanding its store network and improving profitability. The company has demonstrated consistent revenue and profit growth over the past two fiscal years, transitioning from early-stage losses to strong net income margins.
Revenue grew 55.5% QoQ to ₹591 in Q3FY25.
⚠️ High valuation (P/E of 120.1) reflects elevated investor expectations, making the stock vulnerable to any slowdown in growth or margin compression.

Market Cap

₹8,322

P/E Ratio

120.1

Div Yield

0.00%

Promoter

0.0%

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📖 The Story

V2 Retail Limited is in a high-growth, scaling phase with a clear focus on expanding its store network and improving profitability. The company has demonstrated consistent revenue and profit growth over the past two fiscal years, transitioning from early-stage losses to strong net income margins. Management is prioritizing scalable expansion in Tier II and III cities, supported by disciplined capital allocation and improving operating leverage.

📰 What's Happening

In Q4 FY26, V2 Retail reported a 63% YoY revenue increase to ₹3,067 crores and a 125% YoY jump in net profit to ₹162 crores, with EBITDA rising 77% to ₹455 crores. The company added 136 new stores during the fiscal year, ending with 325 stores nationwide, and plans to open 170–200 new stores in FY27. Gross margin improved to 30.3% in Q4, and management expects to maintain margins in the 28–30% range by passing on 3–4% input cost increases. CAPEX per store remains steady at ₹2.6–2.8 crores, reflecting consistent investment in store infrastructure.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Q4FY23	Q1FY24	Q2FY24	Q3FY24	Q4FY24	Q1FY25	Q2FY25	Q3FY25
Revenue	193	264	231	374	296	415	380	591
Operating Profit	16	37	22	64	32	57	36	113
OPM %	7.4%	13.5%	8.6%	16.3%	10.6%	13.4%	8.7%	18.9%
Net Profit	-8	6	-6	24	4	16	-2	51
EPS	₹-2.24	₹1.81	₹-1.64	₹6.82	₹1.04	₹4.72	₹-0.56	₹14.80

The company has turned around from consistent losses in FY24 to robust profitability in FY26, with net profit surging 125% YoY and operating performance improving significantly quarter-on-quarter. This turnaround is underpinned by strong revenue growth from store additions and improved gross margins. Sequential margin expansion and rising operating leverage suggest that scale is beginning to drive profitability, with EBITDA margins improving from 8.6% in Q2FY25 to 18.9% in Q3FY25.

🔮 Management Outlook & What's Next

Management has guided to maintain gross margins in the 28–30% range by passing on 3–4% input cost increases and plans to sustain profitable expansion through the addition of 170–200 new stores in FY27. They emphasize capital efficiency, disciplined execution, and profitable growth as core priorities. The focus remains on scaling operations in Tier II and III cities where demand for value fashion remains strong and store economics are favorable.

Extracted from official company announcements. Not StockFin.ai's opinion.

⚖️ Peer Comparison — Retailing

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
Avenue Supermarts Limited	2.84 L Cr	104.3	—	—	—
ETERNAL LIMITED	2.33 L Cr	317.3	—	—	—
Trent Limited	1.46 L Cr	75.4	—	—	—
Meesho Limited	87,460	—	—	—	—
Lenskart Solutions Limited	81,481	—	—	—	—
FSN E-Commerce Ventures Limited	77,999	1513.3	—	—	—
Swiggy Limited	70,498	—	—	—	—
Info Edge (India) Limited	60,180	83.6	—	—	—
Vishal Mega Mart Limited	55,607	66.3	—	—	—
Urban Company Limited	18,651	—	—	—	—

🔗 Peer Stock Analyses

DMART ETERNAL TRENT MEESHO LENSKART

⚠️ Risk Factors

1. High valuation (P/E of 120.1) reflects elevated investor expectations, making the stock vulnerable to any slowdown in growth or margin compression. 2. Rapid store expansion could pressure operational execution and margin discipline if same-store sales growth declines or input costs rise faster than anticipated. 3. Lack of detailed ESG commitments or dividend policy may limit appeal to certain institutional investors seeking sustainability or income metrics.

📋 Recent Filings

🧠 Analyst's Read

V2 Retail is transitioning from a high-growth startup phase to a scalable, profitable retail player, with strong financial momentum and clear expansion plans. The next key watchpoints are execution discipline in new store rollouts, sustainability of margin expansion, and management's ability to deliver on FY27 store addition targets without compromising profitability.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-07-15.

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