India · Delayed Price · Currency is INR Vishal Mega Mart Earnings Call Transcripts
Fiscal Year 2027
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Revenue grew 18.7% year-over-year to INR 3,727 crore, with 10% same-store sales growth and 25.6% PAT increase. Private brands drove 75% of revenue, Quick Commerce expanded, and RFID rollout is underway. Gross margin improved to 28.7% amid inflation and wage pressures.
Fiscal Year 2026
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Revenue grew 22.2% YoY in Q4 and 20.4% for the year, with strong SSG and margin expansion. Store network reached 795, private brands drove 74% of revenue, and expansion will continue despite inflationary pressures. Robust cash flows and operating leverage support ongoing growth.
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Q3 FY26 saw 17% revenue growth and 19.8% EBITDA growth, with strong SSG and margin expansion. Store network reached 771, quick commerce scaled to 723 stores, and management remains optimistic on future growth, maintaining guidance for 80-100 new stores annually.
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Q2 FY26 saw 22.4% revenue growth and 12.8% same-store sales growth, with strong EBITDA and PAT margin expansion. Quick commerce and private brands drove performance, while GST cuts and supply chain investments support future growth.
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Q1 FY26 saw 21% revenue growth, 11.4% SSG, and margin improvements, driven by new store openings, private brand expansion, and quick commerce scaling. Double-digit SSG was achieved across all city tiers, with disciplined execution amid high competition and enhanced fire safety measures following a major incident.