V-Mart Retail534976Quarterly results

Q2 FY27 press release: revenue up 18% to ₹953 crore, EBITDA up 20% to ₹86 crore

Revenue ₹953 crore, up 18% YoY.

By ScoutQuest · Tue 3 Nov 2026, 7:16 PM IST · 2 min read

₹2,042 Cr

Q2 FY27₹953 CrH1 FY27₹2,042 Cr

Revenue from operations: ₹953 Cr (Q2 FY27) and ₹2,042 Cr (H1 FY27).

Q2 FY27 Revenue: ₹953 crore, up 18% YoY
Q2 FY27 EBITDA: ₹86 crore, up 20%; EBITDA margin 9.0%
Store Network / SSSG: 23 stores opened, 1 closed; 613 stores; Adjusted SSSG 11% vs calendar 3%

Headline for the quarter

The press release covers V-Mart Retail's unaudited financial results for the quarter and half year ended September 30, 2026, approved by the Board at its meeting on November 3, 2026.

Revenue and profitability

Revenue from operations was ₹953 crore in Q2 FY27, against ₹807 crore in Q2 FY26, a rise of 18%.
EBITDA was ₹86 crore, against ₹72 crore, up 20%.
EBITDA margin was 9.0%, against 8.9%, an improvement of 0.1% as printed in the summary table.
PAT margin for the quarter was -1.7%, against -1.1% a year earlier. So despite higher operating profit, the quarter ended with a negative profit-after-tax margin.

Half year picture

Revenue was ₹2,042 crore in H1 FY27, against ₹1,692 crore, up 21%.
EBITDA was ₹247 crore, against ₹198 crore, up 25%.
EBITDA margin improved by 40 bps to 12.1% from 11.7%.
H1 PAT grew 25% YoY, with PAT margin at 1.5%, against 1.5% a year earlier.

Same store sales and the festive calendar

Festive dates moved from Q2 to Q3 this year because of a 19-day shift in the festive calendar: Navratri began on 11 October 2026, against 22 September 2025 last year.
Adjusted for this shift, same store sales growth (SSSG) for the quarter was 11%, with V-Mart at 10% and Unlimited at 12%.
On a calendar basis, SSSG for Q2 was 3%, with V-Mart at 2% and Unlimited at 11%.

Unlimited format

The Unlimited store format in South India posted 25% revenue growth in Q2 (29% year to date) and a 38% YoY increase in EBITDA (40% year to date).

Store network and inventory

The company opened 23 new stores and closed one underperforming location during the quarter.
It crossed the 600 store milestone, and as of September 30, 2026 operated 613 stores across 29 States and Union Territories.
Total retail footprint is approximately 52 lakh sq. ft., with an average store size of approximately 8,000 sq. ft.
Inventory days improved by 7% to 90 days as of September 30, 2026, compared with the corresponding period last year.

What investors can take away

The release shows double-digit revenue and operating profit growth, margin expansion at the EBITDA level, and continued store additions. The quarter's profit-after-tax margin was negative, and the company itself notes that same store sales growth on a calendar basis was much lower than the festive-adjusted number, because of the calendar shift.

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