V2 Retail Ltd.
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ABOUT
AI Sector View
AI GENERATEDConsumer Services
Consumer services have a mixed operating backdrop but strong market sponsorship. Foreign tourist arrivals in India rose 6.0% YoY (2026-06), export of services grew 13.0% YoY (2026-06), and headline tourist arrivals were 584000 (Jun/26), though airport passenger traffic was -2.0% YoY (2026-06). Strong FPI inflow of INR 19847 crore over 3 months to 2026-08-31 supports a Buy stance despite some travel softness.
PROS
- Company has a healthy return on capital (ROCE) of 34.2%
- Company has delivered good sales growth of 41.5% CAGR over last 5 years
- Latest quarter profit grew 51.0% YoY, showing strong momentum
- Operating margins have improved to 15.3% from 10.3%
- Institutional investors have been accumulating - FII+DII up 4.5pp
- Company generates healthy free cash flow
CONS
- Operating cash flow has been negative in recent years
- Promoter holding has decreased over last 2 years: -2.9pp
- Total debt has risen sharply - up 95.6% year on year
- Stock is trading at 7.6x its book value
- Though reporting repeated profits, the company pays out little dividend (0.0%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| DMART | 3707.35 | 79.07 | 241810.41 | 0.00 | 860.44 | 11.34 | 18794.53 | 14.88 | 18.03 | 7.98 |
| TRENT | 2790.10 | 82.25 | 148782.43 | 0.14 | 518.07 | 21.98 | 5754.71 | 17.84 | 36.73 | 19.45 |
| VMM | 104.00 | 54.63 | 48722.01 | 0.00 | 258.77 | 25.57 | 3727.01 | 18.68 | 19.24 | 14.61 |
| METROBRAND | 946.55 | 63.48 | 25802.27 | 0.63 | 95.26 | -3.58 | 720.36 | 14.66 | 35.77 | 29.85 |
| ABLBL | 84.46 | 58.57 | 10308.53 | 0.59 | 29.02 | 20.62 | 2045.74 | 11.15 | 27.34 | 15.06 |
| PNGJL | 627.80 | 20.73 | 9241.38 | 0.00 | 105.33 | 51.91 | 2412.98 | 40.73 | 20.40 | 7.56 |
| V2RETAIL | 220.15 | 44.93 | 8027.50 | 0.00 | 41.85 | 69.70 | 997.20 | 57.73 | 38.43 | 13.99 |
| MEDPLUS | 662.50 | 37.82 | 7959.08 | 0.00 | 33.17 | -21.67 | 1879.60 | 21.84 | 22.22 | 7.09 |
| AVL | 614.60 | 57.11 | 7936.82 | 0.20 | 77.22 | 39.99 | 1192.68 | 26.85 | 20.82 | 10.44 |
| ETHOSLTD | 2755.20 | 70.97 | 7372.28 | 0.00 | 28.66 | 50.71 | 461.71 | 33.32 | 13.70 | 12.97 |
| EMIL | 186.30 | 34.77 | 7167.87 | 0.00 | 120.64 | 458.07 | 2418.95 | 39.07 | 14.49 | 9.88 |
| VMART | 822.75 | 47.58 | 6547.07 | 0.12 | 47.21 | 40.51 | 1088.81 | 23.00 | 23.56 | 14.75 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 264 | 231 | 374 | 296 | 415 | 380 | 591 | 499 | 630 | 705 | 927 | 798 | 997 | |
| 231 | 213 | 313 | 266 | 362 | 349 | 480 | 441 | 539 | 619 | 750 | 685 | 947 | |
| Operating Profit | 33 | 19 | 61 | 30 | 53 | 31 | 111 | 57 | 90 | 86 | 177 | 113 | 51 |
| OPM % | 12.40% | 8.13% | 16.20% | 10.24% | 12.86% | 8.10% | 18.76% | 11.49% | 14.37% | 12.18% | 19.07% | 14.13% | 5.08% |
| 1 | 2 | 3 | 1 | 1 | 2 | 0 | 1 | 1 | 0 | 26 | 0 | 1 | |
| Interest | 10 | 12 | 11 | 12 | 13 | 15 | 18 | 21 | 22 | 28 | 22 | 24 | 25 |
| Depreciation | 17 | 17 | 20 | 18 | 20 | 22 | 26 | 27 | 32 | 37 | 45 | 67 | 64 |
| Profit before Tax | 7 | -8 | 32 | 0 | 21 | -3 | 68 | 10 | 37 | 21 | 135 | 22 | 52 |
| Tax % | 24.92% | 32.58% | 25.02% | -1072.73% | 25.19% | 20.82% | 25.40% | 36.45% | 25.30% | 14.27% | 26.54% | 17.74% | 18.85% |
| Net Profit | 5 | -6 | 24 | 4 | 16 | -3 | 51 | 7 | 28 | 18 | 99 | 18 | 42 |
| 1.42 | -1.65 | 6.97 | 1.12 | 4.59 | -0.73 | 14.71 | 0.19 | 8.02 | 5.23 | 28.38 | 0.51 | 1.15 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 472 | 559 | 748 | 701 | 539 | 629 | 839 | 1,165 | 1,884 | 3,060 | 3,428 | |
| 429 | 506 | 699 | 623 | 488 | 566 | 759 | 1,022 | 1,630 | 2,590 | 3,001 | |
| Operating Profit | 43 | 54 | 49 | 79 | 50 | 63 | 80 | 143 | 254 | 470 | 426 |
| OPM % | 9.11% | 9.62% | 6.59% | 11.21% | 9.31% | 10.03% | 9.57% | 12.27% | 13.49% | 15.35% | 12.43% |
| 25 | 3 | -17 | 15 | 22 | 16 | 6 | 8 | 5 | 27 | 27 | |
| Interest | 10 | 3 | 3 | 32 | 32 | 38 | 41 | 47 | 68 | 100 | 99 |
| Depreciation | 6 | 8 | 14 | 50 | 54 | 57 | 64 | 73 | 95 | 181 | 213 |
| Profit before Tax | 52 | 46 | 15 | 10 | -13 | -16 | -19 | 31 | 97 | 216 | 230 |
| Tax % | 24.46% | 32.44% | -36.16% | 3.12% | 15.67% | 21.13% | 23.09% | 10.78% | 26.69% | 24.23% | 22.85% |
| Net Profit | 39 | 31 | 20 | 10 | -11 | -13 | -14 | 27 | 71 | 163 | 177 |
| EPS | 13.94 | 9.62 | 6.02 | 2.97 | -3.24 | -3.76 | -4.21 | 7.89 | 20.50 | 4.48 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 25%
- 5 Years:
- 42%
- 3 Years:
- 54%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 30%
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- 37%
- 5 Years:
- 76%
- 3 Years:
- 152%
- 1 Year:
- 37%
RETURN ON EQUITY
- 10 Years:
- 9%
- 5 Years:
- 10%
- 3 Years:
- 20%
- Last Year:
- 26%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 31 | 34 | 34 | 34 | 34 | 34 | 34 | 35 | 35 | 36 |
| 125 | 236 | 260 | 245 | 234 | 225 | 210 | 240 | 310 | 866 | |
| 11 | 2 | 15 | 290 | 356 | 352 | 373 | 458 | 798 | 818 | |
| Trade Payables | 65 | 100 | 139 | 104 | 117 | 112 | 93 | 159 | 317 | 463 |
| -12 | 12 | 5 | 13 | 28 | 22 | 24 | 47 | 112 | 256 | |
| Total Liabilities | 220 | 385 | 453 | 686 | 770 | 745 | 734 | 938 | 1,572 | 2,439 |
| 51 | 63 | 100 | 330 | 382 | 375 | 389 | 449 | 842 | 968 | |
| Capital Work in Progress | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 4 | 36 |
| 0 | 90 | 0 | 15 | 15 | 15 | 15 | 15 | 15 | 5 | |
| 115 | 160 | 271 | 196 | 265 | 267 | 246 | 360 | 526 | 1,140 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Cash & Bank | 6 | 5 | 8 | 68 | 16 | 7 | 2 | 7 | 8 | 6 |
| 48 | 67 | 74 | 78 | 91 | 81 | 81 | 107 | 177 | 283 | |
| Total Assets | 220 | 385 | 453 | 686 | 770 | 745 | 734 | 938 | 1,572 | 2,439 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0 | 28 | -50 | 95 | -15 | 60 | 79 | 85 | 191 | -96 | |
| Cash from Investing | -12 | -110 | 41 | -5 | -16 | -12 | -9 | -29 | -128 | -231 |
| Cash from Financing | 16 | 81 | 11 | -37 | -14 | -59 | -75 | -52 | -62 | 325 |
| 3 | -1 | 4 | 52 | -45 | -9 | -4 | 4 | 1 | -2 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-02 - V2 Retail Limited has informed the Exchange about Credit Rating
2026-08-17 - V2 Retail Limited has informed the Exchange about Transcript
2026-08-14 - V2 Retail Limited has informed the Exchange about Schedule of meet
2026-08-14 - V2 Retail Limited has informed the Exchange about Link of Recording
2026-08-13 - V2 Retail Limited has informed the Exchange regarding a press release dated August 13, 2026, titled "Press Release on Un-Audited Standalone & Consolidated Financial Results for the 1st quarter ended on June 30, 2026".
2026-08-13 - V2 Retail Limited has informed the Exchange about General Updates
2026-08-13 - V2 Retail Limited has informed the Exchange regarding Appointment of M/s SMAM & Co. as the Internal Auditor of the company for the Financial Year 2026-27 w.e.f. August 13, 2026.
2026-08-13 - V2 Retail Limited has informed the Exchange regarding Appointment of Mr Dinesh Malpani as President Operations and SMP of the company w.e.f. August 13, 2026.
2026-08-13 - V2 Retail Limited has informed the Exchange regarding Appointment of Mr Manu Agarwal as President Buying and Mechandising and SMP of the company w.e.f. August 13, 2026.
News
Recent coverage and analyst commentary for V2RETAIL
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V2 Retail Ltd.
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