VRV2 Retail532867Quarterly results

V2 Retail Q2 FY27: revenue up 28% to ₹905.6 Cr, EBITDA up 41%, PAT up 6%

Q2 FY27 revenue up 28% to ₹905.6 Cr, EBITDA up 41% to ₹120.3 Cr; PAT up just 6% with margin down to 2.0%.

By ScoutQuest · Tue 3 Nov 2026, 6:59 PM IST · 1 min read

Q2 FY27 Revenue

₹905.6 Cr, up 28% YoY

Q2 FY27 EBITDA

₹120.3 Cr (13.3% margin), up 41%

Q2 FY27 PAT

₹18.2 Cr, up 6%; PAT margin 2.0% vs 2.4%

Period

Q2 & H1 FY27

Positioning

The company presents itself as a value-and-variety fashion retailer serving India's neo middle class and middle class, primarily in Tier-II and Tier-III cities through 427 stores across 26 states and 1 Union Territory.

📈 Consolidated Q2 FY27 revenue rose 28% year on year to ₹905.6 Cr, with gross profit up 42% to ₹281.3 Cr (31.1% margin) and EBITDA up 41% to ₹120.3 Cr (13.3% margin). Profit after tax rose only 6% to ₹18.2 Cr as depreciation climbed to ₹68.3 Cr from ₹37.6 Cr, and the PAT margin slipped to 2.0% from 2.4%.

📈 For H1 FY27 the presentation prints revenue of ₹1,902.8 Cr, up 42%, gross profit of ₹566.4 Cr, up 47%, EBITDA of ₹259.7 Cr, up 50% and PAT of ₹60.1 Cr, up 43%. The FY26 column shows full-year revenue of ₹3,067.1 Cr and PAT of ₹162.1 Cr, which includes an exceptional gain of ₹27.7 Cr.

📉 On scale, the company says it runs 427 stores across 26 states and 1 Union Territory covering about 46.3 lac sq. ft., serving India's neo middle class and middle class mainly in Tier-II and Tier-III cities. The same slide prints monthly sales of ₹785 per square foot in H1FY27 against ₹925 in FY26, a decline in per-square-foot productivity.

💰 The consolidated balance sheet at H1FY27 shows current borrowings of ₹483.3 Cr against ₹229.8 Cr at FY26, non-current borrowings of ₹45.6 Cr against ₹24.1 Cr, and inventories of ₹1,447.8 Cr against ₹1,141.8 Cr, so debt and inventory both rose over the period.

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