V-Mart Retail FY26: Revenue ₹3,804 Cr, 10% Dividend

What V-Mart reported for FY26

V-Mart Retail Limited reported a strong performance for the financial year ended March 31, 2026, backed by higher revenue and reported profitability. The company disclosed total revenue of ₹3,804.40 crore for FY26. This compared with ₹3,265.98 crore in the previous year, indicating year-on-year growth on the reported base. Alongside the annual numbers, the company also shared an update on the March quarter operating performance. For Q4, V-Mart reported revenue from operations of ₹970.89 crore. The FY26 print is being tracked closely because it combines growth in scale with a shareholder payout proposal.

Revenue growth in context

The FY26 revenue figure of ₹3,804.40 crore is materially higher than the prior-year revenue of ₹3,265.98 crore cited in the same disclosure set. In addition, V-Mart’s annual report style financial summary for earlier years shows the base the company has been building from. For the year ended March 31, 2025, total income was ₹3,265.98 crore versus ₹2,806.55 crore in FY24. Revenue from operations for FY25 was also reported separately at ₹3,253.86 crore, up from ₹2,785.60 crore in FY24. Taken together, the numbers point to a multi-year revenue expansion, even as profitability has varied by period.

Profitability snapshot: FY26 profit vs earlier swings

For FY26, V-Mart disclosed net profit of ₹124.00 crore. For FY25, the company’s annual report summary reported net profit of ₹45.77 crore, compared with a net loss of ₹96.76 crore in FY24. Separately, another results summary referenced FY25 net profit of ₹46 crore versus a ₹97 crore loss in FY24, broadly consistent with the annual report directionally. For Q4, one data point in the provided text said V-Mart’s net loss widened to ₹39 crore from ₹37 crore in the corresponding quarter last year, while another said the company posted a net profit of ₹19 crore in Q4FY25 versus a loss of ₹39 crore in Q4FY24. These different quarter references underscore that investors typically need to map each number to the exact period and disclosure.

Dividend: 10% final dividend proposed for FY26

Alongside FY26 performance, the Board of Directors recommended a final dividend of 10% for FY25-26. The company stated this equals ₹1 per equity share, on a face value of ₹10 per share. The proposed dividend remains subject to shareholder approval at the upcoming Annual General Meeting (AGM). This is notable in the context of a prior-year stance where the company explicitly said it did not recommend any dividend for FY25, citing cash availability and planned future expansion.

Q4 operating numbers mentioned in the disclosure

For the final quarter, one FY26-linked operating metric cited was revenue from operations of ₹970.89 crore (₹97,089 lakh). In other parts of the provided text, Q4 revenue is referenced for earlier periods as well. For instance, Q4 revenue was stated at ₹669 crore versus ₹594 crore in the comparable quarter in another excerpt, and Q4FY25 revenue was stated at ₹780 crore versus ₹669 crore in Q4FY24. These figures were accompanied by commentary that same-store sales grew by 6% year-on-year for a quarter, helped by better footfall during festive and wedding seasons.

Store expansion and footprint updates

V-Mart’s store network details in the provided text reflect an ongoing expansion program with periodic rationalisation. For FY24, the company said it opened 46 new stores and closed 25 underperforming stores, taking the total to 444 stores across India by year-end. For FY25, one excerpt said it added 62 new stores and closed nine stores, and another said it opened 13 stores and closed four stores during the quarter. Store count disclosures also vary by reference point, with the total stated as 497 stores “all over India” in one place and 503 stores as of the first week of April in another.

FY25 operational metrics cited as background

A separate FY25 update included several operating and balance sheet indicators. It reported total margins of 33.1%, 140 basis points higher than last year, and quarterly EBITDA at 8.7%, stated as 69% higher than last year. The same note cited an exceptional gain of ₹24 crore linked to reassessment of lease term estimates, inventory of ₹987 crore (102 days), and capex of ₹122 crore including new stores and upgrades. It also reported net free cash flow of negative ₹31 crore for the year. The company’s CFO commentary in that update said LimeRoad was in a build-up phase, and that breakeven was not anticipated in the current year.

Key figures at a glance (normalised to ₹ crore)

Market reaction and shareholder actions referenced

In the March 2025 quarter context, V-Mart’s shares were reported to have fallen as much as 6.2% on a day even as the company announced improved quarterly performance and a bonus share issue. The board approved a 3:1 bonus issue, meaning three additional shares for every one existing fully paid-up equity share of ₹10, subject to shareholder approval. The record date for bonus eligibility was stated to be announced later. Those disclosures also noted that the board did not recommend a dividend for FY25, choosing to retain earnings for growth.

Why FY26 matters for investors

FY26 combines higher reported scale and profit with a proposed final dividend, offering a clearer capital return signal than FY25’s no-dividend decision. At the same time, the broader set of disclosures highlights that operating performance can vary across quarters and that expansion and cash flow decisions remain central to execution. Investors will likely track the AGM outcome for the FY26 dividend proposal, and the company’s subsequent communication on dividend timelines. Separately, for earlier corporate actions, investors would track record dates once announced for bonus issues.

Conclusion

V-Mart’s FY26 disclosure shows revenue of ₹3,804.40 crore and net profit of ₹124.00 crore, alongside a proposed 10% final dividend of ₹1 per share. The dividend will require shareholder approval at the AGM. Across the broader timeline referenced, V-Mart has also been expanding its store base while balancing closures and capex. The next key trigger in the FY26 cycle is the shareholder vote on the dividend and any further updates the company provides around execution and expansion priorities.