Q2 FY25 earnings deluge: V-Mart, Marico, Vedant Fashions report alongside Reliance, HUL, ITC
A heavy results day for India's retail and consumption pack. V-Mart Retail, Marico and Vedant Fashions post Q2 numbers, joining already-reported Reliance (profit Rs 16,563 cr, down 4.8% YoY) and Bharti Airtel (profit up 168%). Mixed signals across consumer demand and capital allocation.
What happened
Q2 FY25 earnings day with multiple Indian retail/consumer names reporting: V-Mart Retail, Marico, Vedant Fashions, plus already-announced Reliance, HUL, ITC,
Key facts
- Reliance profit Rs 16,563 crore down 4.8% YoY
- Reliance revenue Rs 235,481 crore
- Bharti Airtel profit Rs 3,593.20 crore up 168%
- ARPU Rs 233
Why this matters
A clustered earnings deluge offers a real-time read on relative valuations and capital-allocation discipline across retail and FMCG, sharpening the lens for partnership or acquisition timing in the consumption space.
What to watch
- V-Mart SSSG turning positive vs prior contraction
- Marico rural volume recovery commentary and copra/edible-oil cost trajectory
- Vedant Fashions wedding-season order book and ASP trends
- Reliance Retail EBITDA margin and footprint expansion pace
- Management FY25 guidance revisions (up/down)
- Compare same-store-sales growth (SSSG) and gross margin trends across V-Mart, Vedant, Marico for divergence signal
- Track Reliance Retail segment numbers separately from consolidated to gauge organized-retail demand
- Watch brokerage estimate revisions on staples vs discretionary over 48-72h
- Monitor festive-quarter (Q3) guidance commentary for forward demand confirmation