VMVishal Mega Mart544307Quarterly results

Q2FY27 results: revenue ₹3,398.5 crores, up 14.0%; PAT ₹157.9 crores, up 3.7%; 26 gross stores added

Q2FY27 (quarter ended Sept 30, 2026): revenue from operations ₹3,398.5 crores, up 14.0% y-o-y; PAT ₹157.9 crores, up 3.7%; SSSG 5.4% (about 9% after adjusting for festivals shifting to Q3).

By ScoutQuest · Wed 21 Oct 2026, 1:08 PM IST · 2 min read

Q2FY27 Revenue from Operations

₹3,398.5 crores, up 14.0% y-o-y

Q2FY27 Profit After Tax

₹157.9 crores, up 3.7%

Q2FY27 SSSG

5.4% (about 9% after adjusting for festivals shifting to Q3)

Consolidated unaudited results for the quarter and half year ended September 30, 2026, released along with a management commentary and operational highlights.

Quarter (Q2FY27) in numbers

• Revenue from operations was ₹3,398.5 crores, a y-o-y growth of 14.0%.
• Gross profit was ₹950.1 crores with a gross margin of 28.0%, against 28.3% a year earlier.
• Reported EBITDA was ₹412.0 crores (margin 12.1%, against 13.2%).
• Operating EBITDA (pre-INDAS 116 and pre-ESOP charges) was ₹262.2 crores, up 3.7%, with margin at 7.7% against 8.5%.
• Adjusted PAT (pre-ESOP charges) was ₹172.0 crores, up 6.4%, margin 5.1% against 5.4%.
• Profit after tax was ₹157.9 crores, up 3.7%, margin 4.6% against 5.1%.

Half year (H1FY27) in numbers

• Revenue from operations was ₹7,125.5 crores, up 16.4% y-o-y from ₹6,121.8 crores.
• Operating EBITDA (pre-INDAS 116 and pre-ESOP charges) was ₹649.2 crores, up 12.5%, margin 9.1% against 9.4%.
• Profit after tax was ₹416.6 crores, up 16.3% from ₹358.4 crores.
• Adjusted PAT (pre-ESOP charges) was ₹436.7 crores, up 15.8%.

Why margins look softer

• The company said an 18-day shift in the festive calendar moved Puja and Dussehra demand from Q2 to Q3 this year.
• It estimates this shift affected Q2 SSSG by 3-4% (adjusted SSSG about 9%) and H1 SSSG by 1.5-2% (adjusted about 9.5%).
• Lower fixed-cost absorption because of that shift, along with inflationary pressures, was cited for the margin movement.

Store network and operations

• 26 gross and 25 net stores were added in Q2; 53 gross and 49 net in H1, taking the total store count to 844.
• As on September 30, 2026, the network spans 582 cities with total retail area of about 1.41 crore sq. ft.
• For H1FY27, revenue contribution was 44.1% from Apparel, 28.4% from General Merchandise and 27.3% from FMCG; own brands contributed 73.9% of revenue.
• The quick commerce initiative covered 781 stores across 532 cities with a registered user base of 1.5 crore.
• A first pilot store of 'Belong & Co.', a new apparel format for young, affluent urban consumers, was launched in the quarter.

Management view

• The founder and MD said demand conditions remained steady despite renewed inflationary pressures in key raw material categories and an uneven monsoon.
• He said the company had a strong start to the festivals and remained focused on growth, supply chain efficiency and cost discipline.

What a retail investor can track

• Whether the festive demand that moved into Q3 shows up in the next quarter's revenue and SSSG.
• Whether gross and operating margins recover once fixed costs are absorbed over a full festive quarter.
• The pace of net store additions and the scale-up of quick commerce and the new apparel format.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

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