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Vishal Mega Mart (VMM) investor relations material
Vishal Mega Mart Q2 26/27 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Consolidated Q2 revenue rose 14.0% YoY to ₹3,398.53 crore; H1 revenue increased 16.4% to ₹7,125.54 crore.
Festive-calendar timing shifted purchases into Q3, weighing on Q2 margins; reported SSSG was 5.4% in Q2 and 7.7% in H1, versus calendar-adjusted ~9% and ~9.5%.
Financial highlights
Consolidated Q2 net profit was ₹157.88 crore versus ₹152.31 crore YoY; H1 net profit was ₹416.65 crore versus ₹358.38 crore.
Adjusted PAT grew 6.4% to ₹172.0 crore in Q2 and 15.8% to ₹436.7 crore in H1.
Q2 gross profit rose 12.7% to ₹950.1 crore; H1 gross profit increased 16.4% to ₹2,018.9 crore.
Standalone Q2 revenue was ₹1,990.09 crore and net profit ₹165.18 crore; H1 revenue was ₹3,877.40 crore and net profit ₹338.37 crore.
Outlook and guidance
Full-year SSS growth target is double digit; Q3 SSSG would need to exceed 10% for the first nine months to reach double-digit growth.
Guidance remains for 100+ store openings this year, with annual openings intended to exceed the prior year's count; new stores are expected to be profitable and viable.
Gross margins are expected to remain stable YoY in H2; management sees no need for further price increases at current inflation levels.
Management expects EBITDA margin to improve by ~30 bps annually as double-digit growth outpaces 6%-7% store-level cost inflation.
- Revenue up 18.7% YoY, PAT up 25.6%, 819 stores, private brands at 75.2%, foreign cap at 49.99%.VMM
Q1 2027 - Double-digit revenue and profit growth, margin gains, and continued expansion in FY26.VMM
Q4 25/26 - Q3 FY26 revenue up 17% YoY, with margin gains and rapid omni-channel and store expansion.VMM
Q3 25/26 - Strong revenue and profit growth, margin expansion, and digital-led store rollout in Q2 and H1 FY26.VMM
Q2 25/26 - Strong revenue and profit growth in FY25, highlighted by a major IPO and improved margins.VMM
Q4 24/25 - Q1 FY26 saw 21% revenue growth, margin expansion, and rapid omni-channel and store network growth.VMM
Q1 2026 - Q3 FY25 saw robust revenue and profit growth, highlighted by a successful IPO.VMM
Q3 24/25
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