Overview

Detailed Summary

V-Mart Retail Limited primarily operates value retail departmental stores across India's Tier-II and Tier-III cities, catering to middle-class families with apparel, general merchandise, and FMCG products.
In Q3FY26, V-Mart reported a 10% increase in revenue, achieving a notable 22% growth in EBITDA, indicating efficiency improvements driving profitability.
Store count expanded to 554 with 23 new openings, showing continuous network expansion, even in challenging market conditions, bolstered by strong customer traction.
The acquisition of LimeRoad, focusing on strategic profitability and back-end capabilities, led to a 60% reduction in EBITDA losses, demonstrating successful integration in digital channels.
Despite macroeconomic challenges like weather disruptions and inflation, V-Mart maintained strong performance, reflecting resilient business models and operational efficiencies.

Sector: Retail
Industry: Trading - Medium / Small
Market Cap: 4,067 Cr
Volatility: Low Risk
P/E Ratio: 30.9
Industry P/E: 35.9
PEG Ratio: 1.4
P/B Ratio: 4.8
52W High: 962.48
52W Low: 498.10

Sales CAGR

1Y: 16.81%
3Y: 24.99%
5Y: 14.38%
10Y: 16.72%

Profit CAGR

1Y: 147.30%
3Y: 57.83%
5Y: -1.49%
10Y: 5.77%

ROE

TTM: 11.91%
3Y: -2.45%
5Y: -1.31%
10Y: 3.57%

ROCE

TTM: 11.61%
3Y: 2.00%
5Y: 2.92%
10Y: 6.66%

Technicals

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Forecasts

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Analyst Target, Price, EPS and Revenue Projections

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
ENTERO	1039.80	4,486 Cr	40.19	2.54	0.00	6.26	9.07	4.63
PDSL	291.40	4,122 Cr	40.26	2.43	0.58	6.53	12.05	3.67
VMART	507.85	4,067 Cr	30.92	4.81	0.00	11.91	11.61	5.00
EBGNG	342.00	3,884 Cr	48.24	5.81	0.00	12.72	15.32	11.42
OPTIEMUS	347.35	3,066 Cr	46.99	4.10	0.00	9.61	11.48	4.94
MSTCLTD	420.00	2,947 Cr	13.64	3.55	9.68	26.60	25.90	10.76
REFEX	208.70	2,866 Cr	18.75	2.11	0.00	14.61	17.96	7.68

Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	549	889	669	786	661	1,027	780	885	807	1,126
Expenses	549	769	628	687	622	855	712	759	735	917
Operating Profit	0.67	120	40	99	39	171	68	126	72	210
OPM %	0.12	13.46	6.02	12.59	5.84	16.69	8.74	14.25	8.86	18.60
Other Income	1.99	13	4.43	4.64	1.77	3.38	27	2.93	3.43	1.85
Interest	36	38	36	37	39	42	17	18	17	21
Depreciation	53	58	61	57	59	63	54	68	71	78
Profit Before Tax	-86	37	-52	9.32	-58	70	23	43	-14	113
Tax %	25.80	23.45	25.14	-30.26	2.55	-2.71	19.13	21.75	34.83	22.07
Net Profit	-64	28	-39	12	-57	72	19	34	-8.87	88
EPS in Rs	-8.07	3.54	-4.90	1.52	-7.12	8.93	2.31	4.21	-1.12	11.03

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	1,002	1,222	1,434	1,662	1,075	1,666	2,465	2,786	3,254	3,353
Expenses	917	1,090	1,301	1,448	944	1,462	2,196	2,573	2,877	2,949
Operating Profit	85	133	133	214	131	204	269	213	377	404
OPM %	8.46	10.86	9.27	12.86	12.20	12.26	10.91	7.65	11.59	12.06
Other Income	4.14	4.14	-3.88	4.48	21	14	15	21	36	35
Interest	3.52	1.53	1.61	55	59	77	117	142	136	117
Depreciation	19	23	28	94	103	131	180	222	233	244
Profit Before Tax	67	112	100	70	-9.66	10	-13	-131	44	78
Tax %	34.30	30.91	38.26	29.03	35.82	-11.97	39.66	25.85	-4.12	13.34
Net Profit	44	78	62	49	-6.20	12	-7.85	-97	46	67
EPS in Rs	5.52	9.74	7.75	6.20	-0.80	1.46	-1.00	-12.20	5.64	16.42
Dividend Payout %	5.16	4.67	5.01	0.00	0.00	12.76	0.00	0.00	0.00	—

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	18	18	18	18	18	20	20	20	20	20
Reserves	213	252	329	391	441	806	830	829	727	790
Borrowings	27	35	0.32	0.03	517	568	902	1,332	1,391	783
Other Liabilities	126	185	202	223	248	234	348	562	707	844
Total Liabilities	383	491	550	632	1,224	1,627	2,099	2,743	2,845	2,436
Fixed Assets	110	117	145	165	667	697	1,111	1,445	1,661	1,039
CWIP	2.35	1.16	3.51	4.01	2.47	2.19	6.38	109	3.84	4.31
Investments	32	72	34	61	7.89	319	125	8.54	4.70	5.05
Other Assets	238	300	368	402	546	609	857	1,179	1,176	1,388
Total Assets	383	491	550	632	1,224	1,627	2,099	2,743	2,845	2,436

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	46	69	58	76	86	149	-11	177	386	—
Cash from Investing Activity	-37	-73	-8.43	-73	0.51	-419	124	-159	-118	0.00
Cash from Financing Activity	-9.56	4.88	-38	-4.39	-94	287	-104	-33	-259	—
Net Cash Flow	-0.59	0.82	11	-1.42	-7.51	17	7.95	-15	9.17	0.00

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Promoters	44.34%	44.34%	44.33%	44.33%	44.33%	44.33%	44.31%	44.29%	44.28%	44.19%	44.18%	44.15%
FIIs	14.16%	14.82%	14.28%	14.32%	15.32%	15.46%	16.02%	17.32%	17.47%	18.29%	17.46%	17.01%
DIIs	31.82%	30.97%	32.64%	34.00%	33.99%	32.61%	32.79%	32.45%	32.93%	31.51%	32.11%	32.46%
Public	9.67%	9.87%	8.74%	7.35%	6.36%	7.59%	6.88%	5.94%	5.32%	6.02%	6.26%	6.38%
Total Shareholders	24,763	26,022	25,603	25,268	22,471	18,023	20,674	29,869	18,137	23,901	26,763	24,903

Market Transactions

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Projection

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Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q3 FY26

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

Available on Pro Plan