V-Mart Retail Limited Revenue Rises 18% to Rs 953 Crore in Q2 FY27

V-Mart Retail Limited reported provisional revenue from operations of Rs 953 crore in Q2 FY27, up 18% year-on-year from Rs 807 crore, while its operating portfolio reached 613 stores as of September 30, 2026. The update highlights revenue growth, new-store additions and the effect of a festive-calendar shift on comparable-store sales.

What did V-Mart Retail report for Q2 FY27?

V-Mart Retail reported provisional revenue from operations of Rs 953 crore for the quarter ended September 30, 2026, compared with Rs 807 crore in the corresponding quarter of FY26. The reported 18% year-on-year increase came alongside the opening of 23 stores and the closure of one store during the quarter.

Same-store sales growth, or SSSG, stood at 3% for the quarter. V-Mart stores recorded SSSG of 2%, while Unlimited stores recorded 11%. The company said key festive shopping days shifted by 19 days from Q2 to Q3, affecting the reported quarterly comparison.

After adjusting for the festive timing shift, overall SSSG was 11%. On this normalized basis, V-Mart stores posted 10% growth and Unlimited stores posted 12% growth. The company stated that all revenue figures in the business update are provisional and remain subject to review by its statutory auditors.

For the first six months of FY27, revenue from operations rose 21% year-on-year to Rs 2,042 crore from Rs 1,692 crore. Year-to-date SSSG was 6% overall, including 5% for V-Mart stores and 12% for Unlimited stores.

How did V-Mart Retail expand its store network?

V-Mart Retail added a net 22 stores in Q2 FY27, taking its operating portfolio to 613 stores at the end of September 2026. The company opened 23 outlets during the quarter and closed one outlet.

The additions were spread across several states. Uttar Pradesh received seven new stores, while Bihar and Madhya Pradesh received three each. Punjab and Tamil Nadu received two stores each, and Andhra Pradesh, Goa, Gujarat, Haryana, Rajasthan and West Bengal received one store each.

The expansion adds selling locations while the company is also tracking comparable sales at existing stores. Store additions can support reported revenue growth by expanding the addressable customer base, whereas SSSG provides a separate measure of sales movement at operational comparable stores.

Why did same-store sales differ from the normalized figure?

V-Mart Retail attributed the difference between reported and normalized SSSG to a 19-day shift in the festive calendar. The shift moved key shopping dates from the second quarter into the third quarter, reducing the direct comparability of quarterly sales patterns.

Reported overall SSSG was 3%, but the company said it was 11% after adjusting for the timing effect. The corresponding normalized figures were 10% for V-Mart stores and 12% for Unlimited stores, compared with reported growth of 2% and 11%, respectively.

Seasonal and festival-linked demand can affect quarterly sales comparisons for apparel and value retailers. In this case, the company disclosed both the reported metric and an adjusted metric to explain how calendar timing affected Q2 sales performance.

For investors, the distinction matters because total revenue combines sales from existing stores with revenue from newly opened stores. The disclosed SSSG figures show the performance of comparable stores, while the revenue figure reflects both comparable-store demand and network growth.

What is the status of V-Mart Retail's financial results approval?

V-Mart Retail's board was scheduled to meet on November 3, 2026, to consider and approve unaudited financial results for Q2 FY27 and the half year ended September 30, 2026. The company had issued a board-meeting intimation to the exchanges on October 23, 2026.

The trading window for insiders was closed from October 1, 2026, until November 5, 2026, according to the filing. The business update provides provisional operating and revenue data, while the board meeting concerns the formal unaudited quarterly and half-year financial statements.

The company had previously reported revenue of Rs 1,089 crore in Q1 FY27. Its board approved the Q1 FY27 results on July 24, 2026. The Q2 update puts first-half revenue at Rs 2,042 crore, compared with Rs 1,692 crore in the prior-year first half.

How does the update affect investors and retail operations?

The business update gives investors operating indicators ahead of the formal Q2 and half-year results. Revenue grew 18% in Q2 and 21% in the first half, while the company continued to add stores across multiple states. However, the company has said the disclosed revenue data is provisional and subject to statutory auditor review.

The store expansion also has operational implications. New outlets broaden V-Mart Retail's physical presence, particularly through the seven additions in Uttar Pradesh and further openings across 10 other states. At the same time, the company closed one store during the quarter, resulting in a net addition of 22 stores.

The festive-calendar adjustment is relevant for assessing quarterly sales trends. The reported 3% SSSG reflects the timing of festivals within the quarter, while the 11% normalized figure reflects the company's adjustment for the 19-day shift. The formal financial results are expected to provide the next reported view of the company's quarterly performance.

Conclusion

V-Mart Retail Limited's Q2 FY27 business update shows revenue from operations of Rs 953 crore, 18% above the prior-year quarter, supported by network expansion and growth at comparable stores. First-half revenue reached Rs 2,042 crore, while the company disclosed that the festive-calendar shift affected the reported Q2 SSSG figure.

The next item to watch is the board's consideration of unaudited Q2 and H1 FY27 financial results for the period ended September 30, 2026. Those results will follow the provisional business update and remain subject to the company's stated statutory auditor review.