Q3 2026 Vishal Mega Mart Ltd Earnings Call Transcript

Jan 28, 2026 / 06:30 AM GMT

Release Date Price: ₹119.86 (-4.13%)

Transcript

Key Points

Positve

Vishal Mega Mart Ltd (NSE:VMM) reported a 17% year-over-year growth in revenue for Q3 FY26, reaching INR 3,670 crores.
The company achieved a 19.8% growth in EBITDA, with margins improving to 16.5% from 16.1% last year.
Same-store sales growth adjusted for the first nine months stood at 10.3%, indicating strong performance despite seasonal shifts.
The company opened 29 new stores in Q3, with a total of 80 new stores opened in the first nine months, surpassing their annual target.
Vishal Mega Mart Ltd (NSE:VMM) expanded its Quick Commerce initiative to 723 stores across 485 cities, with registered users reaching 12 million.

Negative

The deceleration in growth from 22.5% last quarter to 17% this quarter was attributed to the change in festive timing, impacting quarterly comparisons.
There was a delay in winter onset, which may have affected sales, although winter merchandise still achieved double-digit growth.
The company faces challenges with infrastructure constraints, such as road constructions affecting store operations temporarily.
Despite the positive outlook, the impact of GST and income tax changes on consumer sentiment has not yet fully materialized.
The company is cautious about expanding store numbers beyond the current guidance due to the availability of suitable properties and potential profitability concerns.

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

VSSL.NS - Vishal Mega Mart Ltd
Q3 2026 Vishal Mega Mart Ltd Earnings Call
Jan 28, 2026 / 06:30AM GMT

=====================
Presentation
--------------------------------------------------------------------------------
Unidentified_1 [1]
--------------------------------------------------------------------------------
Ladies and gentlemen, good day and welcome to the Q3 FY26 earnings conference call of Vishal Megamart Limited.

As a reminder, all participant lines will remain in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes.

Should you need assistance during the conference call, please signal the operator by pressing, then 0 on your touchstone telephone.

Please note that this conference is being recorded.

I will now hand the conference over to Ms. Shikharpuri from Strategic Growth Advisors for opening remarks.

Thank you. And over to you, Shika.

--------------------------------------------------------------------------------

Already have an account? Log in

Get the full story

Subscribe Now

	Access to All Earning Calls and Stock Analysis
	30-Year Financial on one screen
	All-in-one Stock Screener with unlimited filters
	Customizable Stock Dashboard
	Real Time Insider Trading Transactions
	8,000+ Institutional investors’ 13F holdings
	Powerful Excel Add-in and Google sheets Add-on
	All data downloadable
	Quick customer support
	And much more...

7-Day Free Trial · Cancel Anytime

Subscription fee may be tax deductible.

Excellent

4.6 out of 5

Trustpilot

Research Tools

All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Calculators Discussion Board

Product

Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App Newsletters Signup 中文

Education

Financial Glossary Tutorials FAQ Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation

Company

About GuruFocus Career Contact Us Advertise Term of Use Privacy Policy Referral Program Partner Program

Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey

Disclaimers

GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.