V2 Retail Limited announced its audited standalone and consolidated financial results for the fourth quarter and full year ended March 31, 2026. The company reported sustained high growth with improved margins across both quarterly and annual periods.

Consolidated Financial Performance

Q4 FY26 Performance:

  • Revenue from operations: ₹797.0 crores, representing 60% year-over-year growth from ₹498.5 crores in Q4 FY25
  • Gross Profit: ₹241.4 crores (75% YoY growth) with Gross Profit Margin of 30.3% (vs 27.6% in Q4 FY25)
  • EBITDA: ₹109.1 crores (89% YoY growth) with EBITDA Margin of 13.7% (vs 11.6% in Q4 FY25)
  • Profit After Tax: ₹17.5 crores (172% YoY growth from ₹6.4 crores in Q4 FY25)

Full Year FY26 Performance:

  • Revenue from operations: ₹3,067.1 crores, representing 63% year-over-year growth from ₹1,884.5 crores in FY25
  • Gross Profit: ₹927.1 crores (68% YoY growth) with Gross Profit Margin of 30.2% (vs 29.3% in FY25)
  • EBITDA: ₹455.5 crores (77% YoY growth) with EBITDA Margin of 14.9% (vs 13.7% in FY25)
  • Profit After Tax: ₹162.1 crores (125% YoY growth from ₹72.0 crores in FY25)

Operational Highlights

Store Network (as of March 31, 2026):

  • Total stores: 325 stores across 25 states and 1 Union Territory
  • Total retail area: approximately 35.35 lakh square feet
  • Q4 FY26 expansion: Opened 33 stores, closed 1 store
  • FY26 expansion: Opened 139 stores, closed 3 stores (net addition of 136 stores)

Sales Performance Metrics:

  • Q4 FY26 Same Store Sales Growth (SSSG): approximately 7.7%
  • FY26 Same Store Sales Growth (SSSG): approximately 8.6%
  • Q4 FY26 volume growth: 53%
  • FY26 volume growth: 47%
  • Q4 FY26 full price sales contribution: 89%
  • FY26 full price sales contribution: 90%
  • FY26 sales per square foot: ₹925 per month

Capital Raising Activity

The company raised approximately ₹400 crores through Qualified Institutional Placement (QIP) route from marquee institutional investors during FY26.

Management Commentary

Mr. Ram Chandra Agarwal, Chairman & Managing Director, commented that the company has delivered exceptional momentum with revenue growth exceeding 60% over the last two financial years. He highlighted investments in analytics-driven merchandising, agile supply chain responsiveness, and operational discipline as key drivers of efficiency and scalability. The company is accelerating geographic coverage through deeper penetration in Tier II and Tier III cities, with current store footprint crossing 350 stores nationwide.

Company Overview

V2 Retail Limited is described as one of India's leading and fastest growing Value Retail Companies, offering apparel and lifestyle products with a philosophy of "Value and Variety." The company has established a strong presence across Northern and Eastern India, serving the neo-middle-class population in Tier II and Tier III cities.