Q3 2025 V-mart Retail Ltd Earnings Call Transcript
Key Points
- V-Mart Retail Ltd (BOM:534976) reported a 10% like-for-like sales growth, with a 17% increase in offline business sales.
- The company opened 21 new stores during the quarter, bringing the total to 488 stores across India.
- Gross margins improved by 30 basis points to 35.8% compared to the previous year.
- The company achieved a 43% increase in EBITDA for the quarter, driven by a 54% reduction in losses from the LimeRoad business.
- V-Mart Retail Ltd (BOM:534976) maintained a positive net free cash flow of INR59 crore year-to-date, with no long-term debt on the balance sheet.
- The onset of winter was delayed, impacting winter merchandise sales initially.
- Manpower costs increased by 24% due to higher minimum wages and increased incentives.
- The company faced challenges with higher competition and increased rental costs in certain markets.
- Some older Unlimited stores continue to underperform, with sales per square foot lower than the company average.
- The company anticipates potential margin pressure due to the need to offer sharper value propositions to consumers.
Ladies and gentlemen, good day, and welcome to V-Mart Retail Limited Q3 FY25 earnings conference call hosted by IIFL Capital Services Limited. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Sameer Gupta from IIFL Capital Services Limited.
Hi. Good morning, everyone, and welcome, everyone, to V-Mart's conference call. Without taking more time, let me hand it over to the senior management for their initial comments, and we can take Q&A after that. Over to you, sir.
Good morning. Thank you, Sameer. Thank you for hosting us. Thank you once again to every participant who is there on the call. The run continues, we definitely see a little betterment in the market.
The festival has been quite good. I would not say it has been very good because the way we expected it to be performing as good as that in the last few days of the festival. But yes,
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