What was V Mart Retail's revenue in Q4 FY26?

V Mart Retail reported revenue of ₹972 Cr in Q4 FY26, a +24% change year-over-year.

Did V Mart Retail management deliver on previous promises?

Scorecard data is being built as historical quarters are processed.

V Mart Retail Q4 FY26 Research Workspace: Revenue ₹972 Cr (+24%)

Q: What guidance did V Mart Retail management give?

Area addition of 13-15% in FY27: Net store area growth target of 13-15% year-on-year, net of 1-2% closures.

Revenue ₹972 Cr +24%

EBITDA ₹106 Cr +56%

PAT ₹10 Cr

EBITDA Margin 10.9% +220bps

Duration 60 min

Read Time 1 min read

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2-Minute Summary

✦ AI-Generated from Full Transcript

V-Mart delivered a strong Q4 FY26 with revenue growth of 24% YoY to ₹972 crore, driven by 12% like-to-like growth and the highest-ever quarterly store addition of 29. EBITDA surged 56% YoY to ₹106 crore, with margins expanding 220 bps to 10.9%, reflecting operational leverage and cost discipline. The Unlimited format in South India posted 28% revenue growth, while the LimeRoad marketplace reduced losses. Management guided for 13-15% area addition in FY27 and expects margin expansion to continue, aided by better inventory health and product mix. However, 10-15% rise in yarn prices due to crude oil inflation poses a risk to gross margins, though management has partially hedged through advance bookings and selective price increases. The key risk is that sustained inflation could dampen consumer sentiment in the value segment.

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Risk Intelligence

Raw material inflation from crude oil

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Quarter Snapshot

Like-to-Like Sales Growth 12%

+12pp YoY

10th consecutive quarter of positive LTL growth; V-Mart at 12%, Unlimited at 9%.

New Stores Added 29

+29 stores QoQ

Highest-ever quarterly store additions; 92 stores added in FY26.

Apparel ASP Growth 5%

+5% YoY

Driven by better festive mix, lower discounting, and improved full-price sales.

Inventory Days Improvement 3 days

-3 days YoY

Per-store inventory reduced 13% YoY; improved inventory health expected to aid gross margins.

Fast read

Guidance and risk preview

Top guidance Area addition of 13-15% in FY27

Net store area growth target of 13-15% year-on-year, net of 1-2% closures.

Top risk Raw material inflation from crude oil

10-15% rise in yarn prices due to crude oil increase could translate to 5-7% apparel cost inflation, pressuring gross margins.