Event Type and Details:

  • This document contains the transcript of the Earnings Conference Call for Q2 FY27 and H1 FY27 results held on October 21, 2026.
  • The call was moderated by Strategic Growth Advisors with management participation from Mr. Gunender Kapur (Founder, MD and CEO) and Mr. Amit Gupta (CFO).

Financial Period Discussed:

  • The call discussed results for the quarter and half year ended September 30, 2026 (Q2 FY27 and H1 FY27).

Key Financial Highlights from Management Commentary:

Q2 FY27 Performance:

  • Revenue from operations grew 14% to ₹3,399 crores
  • Same-store sales growth (SSSG) stood at 5.4%
  • Festive shift impact reduced SSSG by 3-4%; adjusted SSSG was approximately 9%
  • Operating EBITDA grew 3.7% to ₹262 crores with margin of 7.7% vs 8.5% last year
  • PAT (adjusted for ESOP charges) grew 6.4% to ₹172 crores with margin of 5.1% vs 5.4% last year

H1 FY27 Performance:

  • Revenue from operations grew 16.4% to ₹7,126 crores
  • SSSG stood at 7.7% with festive shift impact of 1.5-2%; adjusted SSSG approximately 9.5%
  • Operating EBITDA grew 12.5% to ₹649 crores with margin of 9.1% vs 9.4% last year
  • PAT (adjusted for ESOP charges) grew 15.8% to ₹437 crores with margin of 6.1% vs 6.2% last year

Operational Updates:

  • Added 26 gross new stores in Q2, 53 new stores in H1 FY27
  • Total store count reached 844 across 582 cities
  • Trading area stood at 1.41 crore square feet
  • Private brands contributed 74% to revenue in H1 FY27
  • Quick commerce expanded to 781 stores across 532 cities with 1.5 crore registered users
  • Launched pilot store of Belong & Co., new apparel format for young urban consumers

Forward-looking Statements:

  • Management aims to achieve double-digit SSSG for full year
  • Expects Q3 SSSG to be higher than 10% to compensate for festive shift
  • Maintains guidance of opening more than 100 stores in FY27
  • No material gross margin impact expected in Q3/Q4 despite inflationary pressures

Compliance Statement:

  • The transcript is edited for factual errors; audio recording uploaded on stock exchange on October 21, 2026, will prevail in case of discrepancy
  • Forward-looking statement disclaimer was included in the earnings presentation

Additional Notes Section

  • The document includes the full transcript of the earnings conference call with analyst Q&A session
  • The transcript is available on the company's website at https://aboutvishal.com/