V2 Retail Ltd (NSE:V2RETAIL)

Q3 2026 V2 Retail Ltd Earnings Call Transcript

Feb 4, 2026 / 06:30 AM GMT

Release Date Price: ₹207.84 (-1.97%)

Transcript

Key Points

Positve

V2 Retail Ltd (BOM:532867) reported a strong 57% year-on-year revenue growth in Q3 FY26, significantly outpacing the broader market.
The company successfully raised approximately 400 crores through a Qualified Institutional Placement (QIP) with marquee investors.
V2 Retail Ltd added 105 new stores in the first nine months of FY26, expanding its total store count to 294, with a robust pipeline for future openings.
The company's EBITA grew by 56% year-on-year, with an EBITA margin of 18.7%, reflecting strong operational performance.
The company achieved a 48% volume growth in Q3, with full-price sales contributing 92%, indicating reduced dependence on discounting.

Negative

The company's working capital increased due to a decrease in payable days, resulting from prepayments to vendors.
Despite strong revenue growth, V2 Retail Ltd's gross margins remain below industry peers, with a focus on passing benefits to consumers.
The company's sales per square foot have reduced slightly due to the higher share of new stores, which perform at about 70% of old stores' throughput.
V2 Retail Ltd faces significant competition from low-cost online players, although it maintains a cost advantage in retailing.
The company has not yet hired a new CEO, with the current CEO handling multiple roles, indicating potential challenges in leadership bandwidth.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

VREL.NS - V2 Retail Ltd
Q3 2026 V2 Retail Ltd Earnings Call
Feb 04, 2026 / 06:30AM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, good day and welcome to the V2 Retail Limited Q2 and H1F526 conference call. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Before we begin, a brief. Disclaimer, the presentation which V2 Retail Limited has uploaded on the stock exchange and their website, including the discussions during this call, contains or may contain forward-looking statements concerning V2 Retail Limited business prospects and profitability, which are subject to several risks and uncertainties, and the actual. Could materially differ from those in such forward-looking statements. Should you need assistance during the conference call, please

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