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Vishal Mega Mart (VMM) investor relations material
Vishal Mega Mart Q2 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q2 FY26 revenue reached INR 2,981 crore, up 22.4% year-over-year, with adjusted same-store sales growth of 12.8%.
EBITDA for Q2 was INR 395 crore, a 30.5% increase, and PAT was INR 152 crore, up 46.5% year-over-year.
First half FY26 revenue was INR 6,122 crore, up 21.6%, with adjusted same-store sales growth of 12.1%.
Unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2025 were approved by the Board on 13 November 2025.
51 new stores opened in H1, bringing the total to 742 stores across 493 cities.
Financial highlights
Q2 EBITDA margin improved to 13.2% from 12.4% last year; PAT margin rose to 5.1% from 4.3%.
H1 EBITDA was INR 854 crore, up 27.8%, with a margin of 13.9% (vs. 13.3% last year).
H1 PAT was INR 358 crore, up 41%, with a PAT margin of 5.9% (vs. 5% last year).
Gross profit margin remained stable at 28.3% in both Q2FY26 and H1FY26.
Adjusted SSSG was 12.8% in Q2FY26 and 12.1% in H1FY26, indicating healthy same-store growth.
Outlook and guidance
Management remains optimistic due to GST rationalization, income tax cuts, and favorable monsoon, but refrains from providing specific forward guidance.
Focus remains on maintaining gross margins and reinvesting buying efficiencies into product quality and pricing.
Continued focus on store expansion and omni-channel growth, with accelerated store additions and digital engagement.
Emphasis on loyalty program and hyperlocal delivery to drive future revenue.
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