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V2 Retail Ltd

V2RETAIL·NSE
₹215.63+1.15%Wed, 23 Sept '26 15:55
Industry:Textiles - Readymade Apparel
Indices:

V2 Retail Ltd

V2RETAIL
NSE
₹215.63
+1.15%
|Wed, 23 Sept '26 15:55
SOICxStockScans Reports
Industry
Textiles - Readymade Apparel
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Financials
Documents
Shareholdings
Corporate Actions
Segments
Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Peer Comparison
Financials
Documents
Shareholdings
Corporate Actions
Segments
Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Peer Comparison
6M
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Charts
Documents

Quick Ratios

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Mkt Cap
Market Capitalization
₹7,876Cr
Close
Close Price
₹216.00
Industry
Industry
Textiles - Readymade Apparel
PE
Price To Earnings
42.69
PS
Price To Sales
2.29
Revenue
Revenue
₹3,432Cr
Rev Gr TTM
Revenue Growth TTM
63.30%
PAT Gr TTM
PAT Growth TTM
123.06%

Quarterly Results

Consolidated
Standalone
Numbers
Percentage
QuarterSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue
RevenueCr
231374296415380591499632709929797997
Growth YoY
Revenue Growth YoY%
18.956.053.057.464.358.168.452.386.557.259.957.7
Expenses
ExpensesCr
211313265360347479441545623755688858
Operating Profit
Operating ProfitCr
2061315533111588785174109139
OPM
OPM%
8.616.310.613.48.718.911.613.812.118.713.714.0
Other Income
Other IncomeCr
2311312113241
Interest Expense
Interest ExpenseCr
121213141518212328222425
Depreciation
DepreciationCr
182119212326283238466764
PBT
PBTCr
-831022-2691033211382252
Tax
TaxCr
-38-4501749435510
PAT
PATCr
-624416-251625171031842
Growth YoY
PAT Growth YoY%
50.8152.9146.7161.966.1117.278.950.9992.8100.5171.969.7
NPM
NPM%
-2.56.31.23.9-0.58.71.33.92.411.12.24.2
EPS
EPS₹
-0.20.70.10.5-0.11.50.20.70.52.90.51.1
QuarterSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue
RevenueCr
231374296415380591499632709929797997
Growth YoY
Revenue Growth YoY%
18.956.053.057.464.358.168.452.386.557.259.957.7
Expenses
ExpensesCr
211313265360347479441545623755688858
Operating Profit
Operating ProfitCr
2061315533111588785174109139
OPM
OPM%
8.616.310.613.48.718.911.613.812.118.713.714.0
Other Income
Other IncomeCr
2311312113241
Interest Expense
Interest ExpenseCr
121213141518212328222425
Depreciation
DepreciationCr
182119212326283238466764
PBT
PBTCr
-831022-2691033211382252
Tax
TaxCr
-38-4501749435510
PAT
PATCr
-624416-251625171031842
Growth YoY
PAT Growth YoY%
50.8152.9146.7161.966.1117.278.950.9992.8100.5171.969.7
NPM
NPM%
-2.56.31.23.9-0.58.71.33.92.411.12.24.2
EPS
EPS₹
-0.20.70.10.5-0.11.50.20.70.52.90.51.1

Profit & Loss

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2012Mar 2013Mar 2014Mar 2015Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
RevenueCr
401062292877015396298391,1651,8853,0673,432
Growth
Revenue Growth%
-96.2161.4116.625.3-23.216.833.338.861.862.863.3
Expenses
ExpensesCr
491052252596264905657551,0171,6272,6122,924
Operating Profit
Operating ProfitCr
-8142875496584148258455508
OPM
OPM%
-20.30.71.99.710.79.010.310.012.713.714.814.8
Other Income
Other IncomeCr
42231523167773838
Interest Expense
Interest ExpenseCr
878103031374147689799
Depreciation
DepreciationCr
3232515659677799182214
PBT
PBTCr
-15-6-5189-15-15-173198215233
Tax
TaxCr
16-2-190-2-3-44265354
PAT
PATCr
-31-4-4109-13-12-132872162179
Growth
PAT Growth%
52.886.8-6.5324.7-246.29.1-9.8317.0159.0125.0123.1
NPM
NPM%
-76.2-3.9-1.93.41.3-2.4-1.9-1.52.43.85.35.2
EPS
EPS₹
-1.6-0.2-0.20.40.3-0.4-0.3-0.40.82.14.65.1
Financial YearMar 2012Mar 2013Mar 2014Mar 2015Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
RevenueCr
401062292877015396298391,1651,8853,0673,432
Growth
Revenue Growth%
-96.2161.4116.625.3-23.216.833.338.861.862.863.3
Expenses
ExpensesCr
491052252596264905657551,0171,6272,6122,924
Operating Profit
Operating ProfitCr
-8142875496584148258455508
OPM
OPM%
-20.30.71.99.710.79.010.310.012.713.714.814.8
Other Income
Other IncomeCr
42231523167773838
Interest Expense
Interest ExpenseCr
878103031374147689799
Depreciation
DepreciationCr
3232515659677799182214
PBT
PBTCr
-15-6-5189-15-15-173198215233
Tax
TaxCr
16-2-190-2-3-44265354
PAT
PATCr
-31-4-4109-13-12-132872162179
Growth
PAT Growth%
52.886.8-6.5324.7-246.29.1-9.8317.0159.0125.0123.1
NPM
NPM%
-76.2-3.9-1.93.41.3-2.4-1.9-1.52.43.85.35.2
EPS
EPS₹
-1.6-0.2-0.20.40.3-0.4-0.3-0.40.82.14.65.1

Balance Sheet

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2012Mar 2013Mar 2014Mar 2015Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
Equity CapitalCr
2222222434343434353536
Reserves
ReservesCr
252247240250245235224213240312866
Current Liabilities
Current LiabilitiesCr
506680107163232215204341551914
Non Current Liabilities
Non Current LiabilitiesCr
18324323278312319342411701606
Total Liabilities
Total LiabilitiesCr
3433683854057218137927931,0271,5992,422
Current Assets
Current AssetsCr
305062873083613433264866571,320
Non Current Assets
Non Current AssetsCr
3133183233184134524494675419421,102
Total Assets
Total AssetsCr
3433683854057218137927931,0271,5992,422
Financial YearMar 2012Mar 2013Mar 2014Mar 2015Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
Equity CapitalCr
2222222434343434353536
Reserves
ReservesCr
252247240250245235224213240312866
Current Liabilities
Current LiabilitiesCr
506680107163232215204341551914
Non Current Liabilities
Non Current LiabilitiesCr
18324323278312319342411701606
Total Liabilities
Total LiabilitiesCr
3433683854057218137927931,0271,5992,422
Current Assets
Current AssetsCr
305062873083613433264866571,320
Non Current Assets
Non Current AssetsCr
3133183233184134524494675419421,102
Total Assets
Total AssetsCr
3433683854057218137927931,0271,5992,422

Cash Flow

Consolidated
Standalone
Financial YearMar 2012Mar 2013Mar 2014Mar 2015Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow
Operating Cash FlowCr
-38-121235743598693201-103
Investing Cash Flow
Investing Cash FlowCr
-1-4-7-67-20-16-12-3900
Financing Cash Flow
Financing Cash FlowCr
68-4-30-28-22-58-76-5000
Net Cash Flow
Net Cash FlowCr
-33-80-152-39-15-2500
Free Cash Flow
Free Cash FlowCr
-35-1652963-2444755672-324
CFO To PAT
CFO To PAT%
124.5292.6-272.2358.9843.8-26.3-501.9-673.8335.0279.4-63.8
CFO To EBITDA
CFO To EBITDA%
467.7-1,628.1278.0125.999.07.090.7102.863.078.1-22.7
Financial YearMar 2012Mar 2013Mar 2014Mar 2015Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow
Operating Cash FlowCr
-38-121235743598693201-103
Investing Cash Flow
Investing Cash FlowCr
-1-4-7-67-20-16-12-3900
Financing Cash Flow
Financing Cash FlowCr
68-4-30-28-22-58-76-5000
Net Cash Flow
Net Cash FlowCr
-33-80-152-39-15-2500
Free Cash Flow
Free Cash FlowCr
-35-1652963-2444755672-324
CFO To PAT
CFO To PAT%
124.5292.6-272.2358.9843.8-26.3-501.9-673.8335.0279.4-63.8
CFO To EBITDA
CFO To EBITDA%
467.7-1,628.1278.0125.999.07.090.7102.863.078.1-22.7

Ratios

Consolidated
Standalone
Financial YearMar 2012Mar 2013Mar 2014Mar 2015Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Current
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
271934771764295052361,4535,9056,8757,876
Price To Earnings
Price To Earnings
7.920.152.382.042.542.7
Price To Sales
Price To Sales
0.60.20.10.30.30.80.80.31.33.12.22.3
Price To Book
Price To Book
0.10.10.10.30.61.62.01.05.317.17.68.7
EV To EBITDA
EV To EBITDA
-4.166.416.53.35.816.513.87.813.326.317.317.1
Profitability Ratios
Profitability Ratios
GPM
GPM%
18.122.822.426.222.123.625.625.923.924.325.125.1
OPM
OPM%
-20.30.71.99.710.79.010.310.012.713.714.814.8
NPM
NPM%
-76.2-3.9-1.93.41.3-2.4-1.9-1.52.43.85.35.2
ROCE
ROCE%
-2.40.20.99.76.42.43.33.59.813.616.416.4
ROE
ROE%
-11.2-1.5-1.63.63.1-4.8-4.5-5.210.120.818.018.0
ROA
ROA%
-9.0-1.1-1.12.41.2-1.6-1.5-1.62.74.56.76.7
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
Financial YearMar 2012Mar 2013Mar 2014Mar 2015Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Current
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
271934771764295052361,4535,9056,8757,876
Price To Earnings
Price To Earnings
7.920.152.382.042.542.7
Price To Sales
Price To Sales
0.60.20.10.30.30.80.80.31.33.12.22.3
Price To Book
Price To Book
0.10.10.10.30.61.62.01.05.317.17.68.7
EV To EBITDA
EV To EBITDA
-4.166.416.53.35.816.513.87.813.326.317.317.1
Profitability Ratios
Profitability Ratios
GPM
GPM%
18.122.822.426.222.123.625.625.923.924.325.125.1
OPM
OPM%
-20.30.71.99.710.79.010.310.012.713.714.814.8
NPM
NPM%
-76.2-3.9-1.93.41.3-2.4-1.9-1.52.43.85.35.2
ROCE
ROCE%
-2.40.20.99.76.42.43.33.59.813.616.416.4
ROE
ROE%
-11.2-1.5-1.63.63.1-4.8-4.5-5.210.120.818.018.0
ROA
ROA%
-9.0-1.1-1.12.41.2-1.6-1.5-1.62.74.56.76.7
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
V2 Retail is a value-fashion chain that sells affordable, private-label clothing and lifestyle goods to India’s price-conscious middle and neo-middle class, almost entirely through its own physical stores in smaller cities and rural towns. It was born from the ashes of Vishal Retail, a pioneering but debt-crippled chain founded in 2001, which was restructured and rebranded in 2011 after a brush with collapse - the name “V2” stands for “Value and Variety,” the motto that has guided its second life. The recurring approach is to act as a designer and retailer, not a manufacturer: it creates the styles, outsources production to a network of hundreds of vendors, and sells everything at full price in leased stores where no online channel competes for attention. # Business segments A single-engine value-fashion retailer that designs, sources and sells affordable apparel and lifestyle products for the entire family through a chain of company-owned stores in underpenetrated lower-tier cities. ## 1. Value-fashion retail: a one-stop family store for India’s smaller cities **The company makes money by selling its own designed, privately labelled clothes and accessories at full price in leased stores where the average bill is around ₹800-850 - it is a product-and-place business, not a discount-driven one.** - **Designs everything, makes almost nothing** - an in-house team of 60 designers creates the styles, but less than 10% of production happens in its own factories; the rest is sourced from 500-600 external vendors across India’s textile hubs, giving it control over the look without the cost of owning mills. - **Private label is the profit engine** - 80% of revenue comes from the company’s own brands, which means it captures the manufacturer’s margin and builds a brand identity that customers can only find in its stores. - **Full-price sales, not a discount bazaar** - 90% of revenue is sold at the marked retail price (MRP), with an average selling price of ₹327 in FY26; the value proposition is in the starting price of ₹99 and the breadth of choice, not in perpetual sales. - **Stores in places its rivals ignore** - the 325-store network is concentrated in Tier-2, Tier-3 and Tier-4 cities and rural areas across 25 states, with the largest clusters in Uttar Pradesh (54 stores) and Bihar (49); it is not yet present in Tamil Nadu or Kerala. - **A family-wide assortment under one roof** - the product mix spans men’s wear (41% of revenue), ladies’ wear (26%), kids’ wear (25%) and lifestyle items like footwear and deodorants (8%), positioning each store as a single destination for an entire household’s budgeted fashion needs. # Group structure and partners **A family-led, publicly listed retailer with one small, partially impaired manufacturing subsidiary and a recently broadened institutional shareholder base.** - **Promoter family at the helm** - founder Ram Chandra Agarwal is Chairman and Managing Director, his wife Uma Agarwal oversees marketing, and their son Akash Agarwal serves as Whole-Time Director and CEO; together the promoter group holds about 54% of the company. - **One subsidiary, largely sidelined** - V2 Smart Manufacturing Private Limited, incorporated in 2019, runs two small garment factories in Noida and Bihar that can meet less than 10% of the parent’s needs; the parent’s investment in it stands at ₹15 crore with a ₹10 crore impairment provision, signalling it is not the core engine. - **Institutional capital brought in for growth** - a ₹400 crore qualified institutional placement in late 2025 drew funds from Motilal Oswal, Malabar India, Edelweiss and others, while an earlier ₹76 crore investment from India 2020 Fund II in 2018 had backed the turnaround.

Documents — V2 Retail Ltd

  • Q1 FY2027 Earnings Call Transcript (Jun 2026, PDF): https://www.stockscans.in/document/aq58v6khxieabn18mxelz4d9.pdf
  • Q4 FY2026 Earnings Call Transcript (Mar 2026, PDF): https://www.stockscans.in/document/l5kbfie3q86lrpnd7inwkvrc.pdf
  • Q3 FY2026 Earnings Call Transcript (Dec 2025, PDF): https://www.stockscans.in/document/fapa3fdwvnnp7nkcxcg9se55.pdf
  • Q2 FY2026 Earnings Call Transcript (Sep 2025, PDF): https://www.stockscans.in/document/zp2jl8bqqsp5c5d8npdztql2.pdf
  • Q1 FY2026 Earnings Call Transcript (Jun 2025, PDF): https://www.stockscans.in/document/u1nvp47mphgo1uc12pvt2g0a.pdf
  • Q4 FY2025 Earnings Call Transcript (Mar 2025, PDF): https://www.stockscans.in/document/j3uqedew475dqpms4zvq6qgn.pdf
  • Q3 FY2025 Earnings Call Transcript (Dec 2024, PDF): https://www.stockscans.in/document/wwekhyy1rgmawe88cb83hib5.pdf
  • Q2 FY2025 Earnings Call Transcript (Sep 2024, PDF): https://www.stockscans.in/document/ypxixnvlg7zelxsvqloipbzu.pdf
  • Q1 FY2027 Quarterly Result (Jun 2026, PDF): https://www.stockscans.in/document/piygyfuhn8jqtqrrhy7fjafx.pdf
  • Q4 FY2026 Quarterly Result (Mar 2026, PDF): https://www.stockscans.in/document/8aspqf2yne45gvl9t0vjmwpa.pdf
  • Q3 FY2026 Quarterly Result (Dec 2025, PDF): https://www.stockscans.in/document/ve97nwh1b8y72jdgfntoaa0x.pdf
  • Q2 FY2026 Quarterly Result (Sep 2025, PDF): https://www.stockscans.in/document/l4whybdwvhyzbti1ugodwu6u.pdf
  • Q1 FY2026 Quarterly Result (Jun 2025, PDF): https://www.stockscans.in/document/o64mjtu93i4y1fnne1efbl2c.pdf
  • Q4 FY2025 Quarterly Result (Mar 2025, PDF): https://www.stockscans.in/document/rg5xqbuumru0mtc2eb1f2g1y.pdf
  • Q3 FY2025 Quarterly Result (Dec 2024, PDF): https://www.stockscans.in/document/45cprqxde9ibwpmd8vmkyte0.pdf
  • Q2 FY2025 Quarterly Result (Sep 2024, PDF): https://www.stockscans.in/document/1299w8qj17g609joefp1w113.pdf
  • Q1 FY2027 Investor Presentation (Jun 2026, PDF): https://www.stockscans.in/document/wqjsnfloizmgvnkszrgfyjh4.pdf
  • Q4 FY2026 Investor Presentation (Mar 2026, PDF): https://www.stockscans.in/document/gwgakdcur8wp4rgnqbd7w0xc.pdf
  • Q3 FY2026 Investor Presentation (Dec 2025, PDF): https://www.stockscans.in/document/86mc3enr0kap64jfs0ykiraz.pdf
  • Q2 FY2026 Investor Presentation (Sep 2025, PDF): https://www.stockscans.in/document/tw0xkuz0bnbe3hvbkx0v0ujp.pdf
  • Q1 FY2026 Investor Presentation (Jun 2025, PDF): https://www.stockscans.in/document/7vieb2occzqjnvjg0wukoqoi.pdf
  • Q4 FY2025 Investor Presentation (Mar 2025, PDF): https://www.stockscans.in/document/dmw2xd7imfm95kzbrc4v8ch6.pdf
  • Q3 FY2025 Investor Presentation (Dec 2024, PDF): https://www.stockscans.in/document/azcxrbl577iwtz7n7rk7o91f.pdf
  • Q2 FY2025 Investor Presentation (Sep 2024, PDF): https://www.stockscans.in/document/653ho6vgcf9mu1ztlocmbes2.pdf
  • FY2026 Annual Report (PDF): https://www.stockscans.in/document/qsy884fyvcmz1wnmj43mcd51.pdf
  • FY2025 Annual Report (PDF): https://www.stockscans.in/document/668t0xdph6fzat7dch45ok0x.pdf
  • FY2024 Annual Report (PDF): https://www.stockscans.in/document/90wqqh36q2rctb1dw503lo8v.pdf
  • FY2023 Annual Report (PDF): https://www.stockscans.in/document/mp3sz1hfprdtvknb2ob3glag.pdf
  • FY2022 Annual Report (PDF): https://www.stockscans.in/document/dn25whv7k3ct3wzodjqplubv.pdf
  • FY2021 Annual Report (PDF): https://www.stockscans.in/document/p1kbkelxq9ce8lfc6j1bv8zw.pdf
  • FY2020 Annual Report (PDF): https://www.stockscans.in/document/b8m2pdznzdzog0y93x245q1o.pdf

Concall Transcript Summaries — V2 Retail Ltd

  • Q1 FY2027 Concall Transcript Summary (Jun 2026): https://www.stockscans.in/company/NSE%3AV2RETAIL/transcript-notes/202606/aq58v6khxieabn18mxelz4d9.pdf
  • Q4 FY2026 Concall Transcript Summary (Mar 2026): https://www.stockscans.in/company/NSE%3AV2RETAIL/transcript-notes/202603/l5kbfie3q86lrpnd7inwkvrc.pdf
  • Q3 FY2026 Concall Transcript Summary (Dec 2025): https://www.stockscans.in/company/NSE%3AV2RETAIL/transcript-notes/202512/fapa3fdwvnnp7nkcxcg9se55.pdf
  • Q2 FY2026 Concall Transcript Summary (Sep 2025): https://www.stockscans.in/company/NSE%3AV2RETAIL/transcript-notes/202509/zp2jl8bqqsp5c5d8npdztql2.pdf
  • Q1 FY2026 Concall Transcript Summary (Jun 2025): https://www.stockscans.in/company/NSE%3AV2RETAIL/transcript-notes/202506/u1nvp47mphgo1uc12pvt2g0a.pdf
  • Q4 FY2025 Concall Transcript Summary (Mar 2025): https://www.stockscans.in/company/NSE%3AV2RETAIL/transcript-notes/202503/j3uqedew475dqpms4zvq6qgn.pdf
  • Q3 FY2025 Concall Transcript Summary (Dec 2024): https://www.stockscans.in/company/NSE%3AV2RETAIL/transcript-notes/202412/wwekhyy1rgmawe88cb83hib5.pdf
  • Q2 FY2025 Concall Transcript Summary (Sep 2024): https://www.stockscans.in/company/NSE%3AV2RETAIL/transcript-notes/202409/ypxixnvlg7zelxsvqloipbzu.pdf

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