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V2 Retail (V2RETAIL) investor relations material

V2 Retail Q1 25/26 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q1 25/26 earnings summary31 Jul, 2025

Executive summary

  • Q1 FY26 revenue grew 52% year-over-year to ₹632.2 crore, with net profit up 51% to ₹24.7 crore and EBITDA rising over 55% year-over-year.

  • Store network expanded to 225 stores, with 28 new stores opened and 1 closed in Q1 FY26, reaching 216–225 stores across 165+ cities.

  • Same store sales growth normalized at 10%, with full price sales at 92% of total sales.

  • Focus on customer-centricity, data-driven merchandising, and tech-enabled supply chain to drive resilience and scalability.

  • Unaudited Q1 FY26 results were approved with a modified auditor report due to ongoing asset reconciliation.

Financial highlights

  • Revenue from operations at ₹632.2 crore, gross margin improved to 29.4–29.5%, and EBITDA margin up to 13.8% in Q1 FY26.

  • Profit after tax reached ₹24.7–30.6 crore, a 51–62% year-over-year increase.

  • ROE improved to 27.5% in Q1 FY26 from 23% in FY25.

  • Net working capital days reduced to 34 in Q1 FY26 from 37 in FY25.

  • Sales per square foot per month was ₹1,061 in Q1 FY26, up from ₹1,017 in Q1 FY25.

Outlook and guidance

  • Targeting 50% revenue growth for FY26, with 8–10% SSSG from old stores and 40% growth from new stores.

  • Store opening target for FY26 is 100–120 stores, with potential to increase to 130–150 stores in FY27.

  • EBITDA margin target is 10% in the next two years, with anything above 8% considered strong.

  • Focus remains on affordable, high-quality fashion for India's growing middle class, with continued expansion in Tier-II and Tier-III cities.

  • Management expects no material adjustments from ongoing asset reconciliation.

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Q2 25/2624 Oct, 2025
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Frequently asked questions

V2 Retail Limited is an India-based company primarily engaged in the retail trade of a wide range of products, focusing on garments, textiles, accessories, lifestyle products, footwear, purses, wallets, personal care items, sunglasses, and sportswear. The company markets its diverse product offerings under various brand names, including Godspeed, Herrlich, Glamora, Ebellia, and Honey Brats. The company is headquartered in New Delhi, India, and its shares are listed on the NSE.

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