V2 Retail Limited (V2RETAIL) Earnings Call Transcripts

V2 Retail Limited's Latest Earnings Call - Q4 FY2026

V2 Retail Limited reported strong Q4 FY '26 results with a 60% YoY revenue growth to INR 797 crores, significantly outpacing the market. EBITDA increased by 89% to INR 109 crores, with margins improving to 13.7%. PAT rose to INR 17.5 crores, a 173% increase. The company added 136 stores during the fiscal year, reaching a total of 330 stores. Management maintained guidance for 8-10% same-store sales growth and plans to open 170-200 new stores in FY '27, signaling confidence in sustained growth.

Reported metrics

Guidance from management

Management maintained guidance for 8-10% same-store sales growth and plans to open 170-200 new stores in FY '27. They aim to sustain revenue momentum and improve inventory operating leverage.

What management said

No. But there are like -- our debt-to-equity ratio is very, very healthy. So we have the option of getting more debt on the books. So I think that will be a first preference even if we need some cash for future expansion.

So we don't have a loyalty program per se, but we have a database of about INR 8 crore customers. And we do reach them through WhatsApp, [ RCS ] and SMS. And we give them gift vouchers and other kinds of gifts, not loyalty points.

What analysts pressed on

Analysts expressed concerns about the impact of geopolitical tensions on inventory levels and potential margin pressures from rising commodity prices. Questions also focused on the sustainability of high growth rates and the strategic focus on store expansion.

Main topics on the call

• Revenue Growth — Revenue for Q4 FY '26 grew by 60% YoY to INR 797 crores, driven by strong customer traction and strategic investments in technology and store expansion. Management highlighted, 'Our model can scale effectively while main...
• Store Expansion — V2 Retail added 136 stores in FY '26, reaching a total of 330 stores. Management plans to open 170-200 stores in FY '27, focusing on geographic coverage in rural markets and Tier 2 and Tier 3 cities. 'Our pipeline of pla...
• Profitability and Margins — EBITDA for Q4 stood at INR 109 crores, up 89% YoY, with margins improving to 13.7%. Management attributed this to operational discipline and strategic investments. 'We have consistently delivered growth in excess of 60% ...
• Inventory Management — Due to geopolitical tensions, V2 Retail increased safety stock levels, resulting in higher March inventory. Management plans to maintain inventory at 90-100 days once conditions normalize. 'We have increased our safety s...

Read the full V2 Retail Limited transcript (Q4 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 12 V2 Retail Limited earnings call transcripts on record, spanning January 28, 2020 to May 29, 2026. Based on this history, V2 Retail Limited reports semi-annually. The most recent call on file is dated May 29, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

V2RETAIL

Exchange

NSEI

Country

IN

Sector

Consumer Discretionary

Industry

Specialty Retail

Calls on record

12

First call

January 28, 2020

Most recent

May 29, 2026

Reporting cadence

semi-annually