V2 Retail Limited announced its un-audited standalone and consolidated financial results for Q2 FY27 and H1 FY27 ended September 30, 2026. The company reported strong growth momentum despite a shift in festive season timing.

Q2 FY27 Financial Performance

  • Revenue from operations reached ₹905.6 crore, representing 28% year-on-year growth
  • Gross Profit stood at ₹281.3 crore, showing 42% YoY growth
  • Gross Profit Margin expanded to 31.1% from 28.0% in Q2 FY26 (310 basis points improvement)
  • EBITDA grew 41% YoY to ₹120.3 crore from ₹85.4 crore
  • EBITDA Margin expanded to 13.3% from 12.1% in Q2 FY26 (120 basis points improvement)
  • Profit After Tax increased to ₹18.2 crore, showing 6% YoY growth from ₹17.2 crore

H1 FY27 Financial Performance

  • Revenue from operations stood at ₹1,902.8 crore, registering 42% YoY growth
  • Gross Profit reached ₹566.4 crore, showing 47% YoY growth
  • Gross Profit Margin improved to 29.8% compared to 28.7% in H1 FY26
  • EBITDA stood at ₹259.7 crore, registering 50% YoY growth from ₹172.7 crore
  • EBITDA Margin stood at 13.6% compared to 12.9% in H1 FY26
  • Profit After Tax surged 43% YoY to ₹60.1 crore from ₹41.9 crore

Operational Highlights

  • As of September 30, 2026, the company operates 427 stores across 26 states and 1 Union Territory
  • Total retail area reached approximately 46.3 lakh square feet
  • In H1 FY27, the company opened 106 new stores and closed 4 stores
  • Same Store Sales Growth (SSSG) for Q2 FY27 was approximately (14.9%), primarily due to festive season timing shift
  • Normalized SSSG was positive 0.5%, indicating underlying demand resilience
  • Volume growth was strong at 31% in Q2 FY27 and 43% in H1 FY27
  • Full-price sales accounted for 91% of total sales in both Q2 FY27 and H1 FY27
  • PSF (Per Square Foot) for H1 FY27 stood at ₹785 per month

Management Commentary

Mr. Ram Chandra Agarwal, Chairman & Managing Director, commented that the company delivered resilient performance despite the timing impact of festive season shift. He highlighted the effectiveness of disciplined merchandising, pricing, and inventory management strategies. The operating environment remains favorable with increasing consumption across non-metro markets and rising penetration of organized retail. The company continues to focus on strengthening its product proposition, maintaining price-value equation, expanding retail network judiciously, and driving operational efficiencies.

Comparative Financial Data

| Particulars (₹ in Cr) | Q2 FY27 | Q2 FY26 | Y-O-Y | Q1 FY27 | H1FY27 | H1FY26 | Y-O-Y | FY26 |

| Revenue | 905.6 | 708.6 | 28% | 997.2 | 1,902.8 | 1,340.9 | 42% | 3,067.1 |

| COGS | 624.3 | 510.5 | - | 712.2 | 1,336.4 | 956.5 | - | 2,139.9 |

| Gross Profit | 281.3 | 198.2 | 42% | 285.0 | 566.4 | 384.4 | 47% | 927.1 |

| GP Margin (%) | 31.1% | 28.0% | - | 28.6% | 29.8% | 28.7% | - | 30.2% |

| EBIDTA | 120.3 | 85.4 | 41% | 139.5 | 259.7 | 172.7 | 50% | 455.5 |

| EBIDTA Margin (%) | 13.3% | 12.1% | - | 14.0% | 13.6% | 12.9% | - | 14.9% |

| Profit After Tax | 18.2 | 17.2 | 6% | 41.9 | 60.1 | 41.9 | 43% | 162.1 |