V-Mart Retail targets 17-20% FY26 revenue growth as Q2 loss narrows 84%
V-Mart Retail posted Q2FY26 revenue of ₹806 crore with margins at 8.90% and net loss narrowing 84% YoY to ₹8.87 crore. The value-fashion chain guides for 17-20% FY26 revenue growth, aided by festive demand and early winterwear sales, and plans 70-75 new store openings — above earlier guidance.
What happened
V-Mart Retail targets 17-20% FY26 revenue growth, aided by festive sales and early winterwear demand. Q2 net loss narrowed 84% YoY to ₹8.87 crore; plans 70-75
Key facts
- 17-20% FY26 revenue growth
- Q2FY26 revenue ₹806 crore
- 8.90% margins
- net loss ₹8.87 crore
- 84% YoY loss reduction
- 59 stores opened
- 16 in October
- 70-75 new stores planned
- 50% YoY online loss decline
- market cap ₹6,133 crore
- stock ₹772.85
- 16% decline over year
Why this matters
The raised store-opening guidance and improving margins position V-Mart as a strengthening consolidator in value-fashion, worth watching for tier-2/3 expansion or regional bolt-on opportunities.
What to watch
- Q3FY26 results showing festive revenue and first profitable quarter
- SSSG above/below high-single-digits
- Gross margin trajectory vs 8.9% EBITDA line
- Net debt / working capital changes from store capex
- Cotton and apparel input cost movements
- Track monthly same-store sales (SSSG) vs new-store contribution to test growth quality
- Watch Q3 (festive quarter) print as the make-or-break validation of guidance
- Monitor store rollout pace against the raised 70-75 target
- Assess winterwear inventory sell-through and markdown risk