India · Delayed Price · Currency is INR V-Mart Retail Earnings Call Transcripts
Fiscal Year 2026
-
Q4 FY26 saw 24% sales growth, record new store additions, and 56% EBITDA growth, with strong performance in the South and improved inventory health. Management remains optimistic despite inflation and supply chain risks, guiding for continued expansion and margin improvement.
-
Q3 saw robust revenue and profit growth, driven by festive demand and operational efficiency, despite weather disruptions. Gross margins improved, new stores ramped up quickly, and the company remains focused on disciplined expansion and technology upgrades.
-
Q2 FY26 saw 22% growth with 25 new stores and 11% LFL growth, driven by early festive sales and strong rural demand. Gross margin held steady at 33.6%, EBITDA margin improved, and free cash flow turned positive. Expansion guidance was raised to 75 stores, with continued focus on technology, inventory freshness, and selective southern expansion.
-
Q1 FY26 delivered 13% sales growth and 27% EBITDA growth, with improved margins and strong cash flow. Expansion continues with 65 new stores targeted for the year, while margin strategy shifts to rupee growth amid rising competition and rental costs.
Fiscal Year 2025
-
Q4 saw 17% revenue growth and improved margins, driven by strong performance in tier 2/3 cities and among Gen Z consumers. Store expansion and technology integration remain key, with 65 new stores targeted for FY25. Margins are expected to stay stable, and LimeRoad losses will continue to decline.
-
Q3 FY25 delivered strong sales growth, improved margins, and robust store expansion, driven by higher youth engagement, technology adoption, and a shift from unorganized to organized retail. Inventory and cost efficiencies supported profitability, while competitive and inflationary pressures persist.
-
Sales grew 20% YoY with strong like-to-like growth and 21 new stores opened. Gross margin was stable for offline business, while LimeRoad losses declined 63% YoY. Value retail demand remains robust, driven by rural and youth segments, with continued focus on digital and store expansion.
-
Q1 FY25 delivered 20% sales growth, improved margins, and strong footfall recovery, especially in tier 2–4 towns. Efficiency gains, inventory reduction, and reduced marketing spend drove profitability, while LimeRoad losses narrowed. Store expansion and festive season optimism support a positive outlook.