V2 Retail Limited · NSE:V2RETAIL
V2 Retail — Q3 FY2026 Earnings Presentation
40 slides from V2 Retail's earnings presentation, Feb 3, 2026
Slide 1: Exchange filing cover letter
V2 Retail Limited 03rd February, 2026 BSE Ltd. National Stock Exchange of India Ltd. Corporate Relation Department, Listing Department Listing Department, Exchange Plaza, C-1, Block- G, Rotunda Building, PJ Towers, Bandra Kurla Complex Dalal Street, Mumbai – 400 023. Bandra (East) Mumbai–400 051 Scr
Slide 2: Q3 & 9M FY26 Investor Presentation
Value& Variety Q3 & 9M FY26 Investor Presentation a
Slide 3: Q3 & 9M FY26 Performance Highlights
Q3 & 9M FY26 Performance Highlights
Slide 4: Key Updates
Key Updates 1. The Fund-Raising Committee of the holding Company, constituted by Board of Directors, at its meeting held on November 03, 2025 has approved the allotment of 18,74,414 Equity Shares of Rs. 10/- each to the eligible Qualified Institutional Buyers, at the issue price of ₹ 2,134 per Equit
Slide 5: Q3 & 9M FY26 Performance Highlights (Consolidated)
Q3 & 9M FY26 Performance Highlights (Consolidated) Revenue Gross Profit EBITDA PAT Q3FY26 ₹ 929.2 Cr +57% ₹ 301.3 Cr +59% ₹ 173.7 Cr +56% ₹ 102.1 Cr +99% 32.4% 18.7% 10.9% 9MFY26 ₹ 2,270 Cr +64% ₹ 685.7 Cr +66% ₹ 346.4 Cr +73% ₹ 144.0 Cr +119% 30.2% 15.3% 6.3% Manufacturing Leading the way in Afford
Slide 6: Key Operational Highlights Q3 FY26
Key Operational Highlights Q3 FY26 Same Stores Sales Growth SSG stood at ~2% & Normalised SSG was 12.8% for Q3FY26 and Cumulative SSG for Q2 & Q3FY26 stood at 10.4% Sales Per Square Feet Volume Growth Sales per square feet (PSF) per month was Volume growth for Q3FY26 stood at 48% ₹ 1,032 in Q3FY26 a
Slide 7: Key Operational Highlights 9M FY26
Key Operational Highlights 9M FY26 Same Stores Sales Growth Same stores sales growth (SSG) stood at ~8.6% for 9MFY26. Sales Per Square Feet Volume Growth Sales per square feet (PSF) per month was Volume growth for 9MFY26 stood at 45% ₹ 981 in 9MFY26 as compared to (Y-o-Y). ₹ 1,069 in 9MFY25. 1 Store
Slide 8: Retail Footprint – Reaching Customers
Retail Footprint – Reaching Customers Stores Network as on December 31, 2025 #294 Stores, #Across 225 Cities, #Presence in 25 states (Opened 106 & Closed 1 Stores) Retail Area ~31.93 lakh sq.ft. 7 7 7
Slide 9: Q3 & 9M FY26 Financial Highlights (Consolidated)
Q3 & 9M FY26 Financial Highlights (Consolidated) Revenue (₹ Cr) Gross Profit (₹ Cr) 30.2% 64% 66% 29.8% 2,270 32,4% 686 1,386 59% 32.1% 57% 414 929 301 591 33% 190 Q3 FY26 Q3 FY25 9M FY26 9M FY25 Q3 FY26 Q3 FY25 9M FY26 9M FY25 EBIDTA (₹ Cr) PAT (₹ Cr) 15.3% 73% 14,4% 18.7% 346 17.4% 12.9% 18.9% 56%
Slide 10: Q3 & 9M FY26 Operational Parameters (Consolidated)
Q3 & 9M FY26 Operational Parameters (Consolidated) Inventory (Days of Sales) Creditors (Days of Sales) Net Working Capital (Days of Sales) Return on Equity (ROE) 9 Company raised ~₹ 400 crores by way of QIP in Q3 FY26, which 9 has impacted the ROE
Slide 11: Q3 & 9M FY26 Operational Parameters
Q3 & 9M FY26 Operational Parameters Sales Per Square Feet (PSF) per Month (₹) Same Stores Sales Growth (SSG) Average Bill Value (ABV) (₹) Average Selling Price (ASP) (₹) 10 10
Slide 12: Q3 & 9M FY26 Profit & Loss - Consolidated
Q3 & 9M FY26 Profit & Loss - Consolidated Y-O-Y Y-O-Y Particulars (₹ Cr) Q3 FY26 Q3 FY25 Q2 FY26 9M FY26 9M FY25 FY25 % Change % Change Revenue from Operations 929.2 590.9 57% 708.6 2,270.0 1,386.0 64% 1,884.5 Cost of Material Consumed 627.4 388.5 508.9 1,581.3 927.8 1,285.3 Direct Expenses 0.4 13.0
Slide 13: Q3 & 9MFY26 Profit & Loss – Consol. (Pre Ind As)
Q3 & 9MFY26 Profit & Loss – Consol. (Pre Ind As) Y-O-Y Y-O-Y Particulars (₹ Cr) Q3 FY26 Q3 FY25 Q2 FY26 9M FY26 9M FY25 FY25 % Change % Change Revenue from Operations 929.2 590.9 57% 708.6 2,270.0 1,386.0 64% 1,884.5 Cost of Material Consumed 627.4 388.5 508.9 1,581.3 927.8 1,285.3 Direct Expenses 0
Slide 14: Q3 & 9M FY26 Profit & Loss - Standalone
Q3 & 9M FY26 Profit & Loss - Standalone Y-O-Y Y-O-Y Particulars (₹ Cr) Q3 FY26 Q3 FY25 Q2 FY26 9M FY26 9M FY25 FY25 % Change % Change Revenue from Operations 927.3 590.9 57% 704.9 2,261.9 1,386.0 63% 1,884.5 COGS 623.4 409.0 507.6 1,577.5 1,000.3 1,366.9 Gross Profit 303.9 182.0 67% 197.3 684.4 385.
Slide 15: Q3 & 9M FY26 Profit & Loss – Standalone (Pre Ind As)
Q3 & 9M FY26 Profit & Loss – Standalone (Pre Ind As) Y-O-Y Y-O-Y Particulars (₹ Cr) Q3 FY26 Q3 FY25 Q2 FY26 9M FY26 9M FY25 FY25 % Change % Change Revenue from Operations 927.3 590.9 57% 704.9 2,261.9 1,386.0 63% 1,884.5 COGS 623.4 409.0 507.6 1,577.5 1,000.3 1,366.9 Gross Profit 303.9 182.0 67% 197
Slide 16: Media & Promotion Campaigns
Media & Promotion Campaigns 15 15
Slide 17: Media & Promotion Campaigns
Media & Promotion Campaigns 16 16
Slide 18: Select New Stores Opening
Select New Stores Opening 17 17
Slide 19: Select New Stores Opening
Select New Stores Opening 18 18
Slide 20: V2 Retail – Where Value Meets Variety
V2 Retail Where Value Meets Variety |
Slide 21: About V2 Retail
About V2 Retail Overview Value & Variety Established in 2001 under the visionary Our motto 'Value & Variety' comes to life leadership of Mr. Ram Chandra Agarwal, through a wide-ranging product portfolio V2 Retail Limited was founded with the that delivers exceptional quality and mission to offer qua
Slide 22: Key Operational Highlights FY25
Key Operational Highlights FY25 Same Stores Sales Growth Same stores sales growth (SSG) stood at ~29% for FY25. Sales Per Square Feet Volume Growth Sales per square feet (PSF) per month Volume growth for FY25 stood at 43% was ₹ 1,017 in FY25 as compared to (Y-o-Y). ₹ 854 in FY24. 1 Stores Count & Re
Slide 23: Revenue Mix & Growth Drivers
Revenue Mix & Growth Drivers The key factors driving apparel business Revenue Mix (%) Occasions Functional Needs Occasions Drive Purchases Discount| Offers| Sale| Festivals| Weddings| Replace Old Clothes | Birthdays| Social Functions Fashion Kids Boy, Girls, Infants, Winter Wear Ethnic wear, Upper,
Slide 24: Product Design to Customer Delight at Retail Stores
Product Design to Customer Delight at Retail Stores 2 Job Work 4 Warehouse & Logistic 6 Customer Delight • Dedicated Job workers for own • Centralised warehouse & distribution • Ensuring a seamless process that designed products center at Gurgaon translates into superior products for • Helps in main
Slide 25: Stores Experience
Stores Experience 24 24
Slide 26: Stores Experience
Stores Experience 25 25 25
Slide 27: Stores Experience
Stores Experience 26 2626
Slide 28: Board of Directors
Board of Directors Mr. Ram Chandra Agarwal, Ms. Uma Agarwal, Mr. Akash Agarwal, Chairman & Managing Director Whole Time Director Whole Time Director • Mr. Agarwal holds a bachelor’s degree in • Mrs. Agarwal holds a bachelor’s degree in • Mr. Akash Agarwal holds an International Commerce. Arts. MBA f
Slide 29: Independent Directors
Independent Directors Dr. Arun Kumar Roopanwal Mrs. Archana S Yadav Mr. Srinivas Anand Mannava Independent Director Independent Director Independent Director • He has over 35 Years of • A Chartered Accountant in • Post-Graduate Program in extensive experience in practice with more than 14 years Busi
Slide 30: Historical Financials & Operational Indicators
Historical Financials & Operational Indicators
Slide 31: Consolidated Profit & Loss
Consolidated Profit & Loss Particulars (₹ in Cr) FY2021 FY2022 FY2023 FY2024 FY2025 Revenue from Operations 538.6 629.2 838.9 1,164.7 1,884.5 Growth (%) -23.2% 16.8% 33.3% 38.8% 61.8% Gross Profit 162.8 201.6 260.1 346.0 551.3 GP Margin (%) 30.2% 32.0% 31.0% 29.7% 29.3% EBIDTA 48.5 64.7 84.0 147.8 2
Slide 32: Consolidated Balance Sheet
Consolidated Balance Sheet Particulars (₹ in Cr) FY2025 FY2024 FY2023 Particulars (₹ in Cr) FY2025 FY2024 FY2023 ASSETS EQUITY AND LIABILITIES Non-current assets Equity Property, plant and equipment 210.1 116.1 98.6 Equity share capital 34.6 34.6 34.4 Capital Work in Progress 4.2 0.2 0.1 Other equit
Slide 33: Standalone Profit & Loss
Standalone Profit & Loss Particulars (₹ in Cr) FY2021 FY2022 FY2023 FY2024 FY2025 Revenue from Operations 538.6 629.2 838.9 1,164.7 1,884.5 Growth (%) -23.2% 16.8% 33.3% 38.8% 61.8% Gross Profit 158.3 188.6 243.4 319.7 517.6 GP Margin (%) 29.4% 30.0% 29.0% 27.4% 27.5% EBIDTA 48.8 60.7 78.8 142.4 252
Slide 34: Standalone Balance Sheet
Standalone Balance Sheet Particulars (₹ in Cr) FY2025 FY2024 FY2023 Particulars (₹ in Cr) FY2025 FY2024 FY2023 ASSETS EQUITY AND LIABILITIES Non-current assets Equity Property, plant and equipment 192.6 95.2 85.7 Equity share capital 34.6 34.6 34.4 Capital Work in Progress 4.2 0.2 0.1 Other equity 3
Slide 35: Cash Flow Statement
Cash Flow Statement Standalone Consolidated Particulars (₹ in Cr) FY2025 FY2024 FY2025 FY2024 PBT 96.7 30.6 98.2 31.4 Adjustments 152.1 131.3 157.3 136.4 Operating profit before working capital changes 248.8 161.9 255.5 167.8 Changes in working capital (10.9) (76.4) (7.7) (73.6) Cash generated from
Slide 36: Robust Standalone Financial Performance
Robust Standalone Financial Performance Revenue (₹ Cr) EBIDTA (₹ Cr) & EBIDTA Margin PBT (₹ Cr) PAT (₹ Cr) 35 35
Slide 37: Key Operating Matrix - Standalone
Key Operating Matrix - Standalone No. of Stores & Retail Space (lakh sq.ft.) Inventory Holding Days Sales Per Sq. Ft. (₹ Per Month) Rent Per Sq. Ft. (₹ Per Month) 36 36 36
Slide 38: Operational Parameters (Consolidated)
Operational Parameters (Consolidated) Inventory (Days of Sales) Creditors (Days of Sales) Net Working Capital (Days of Sales) Return on Equity (ROE) 23.2% 10.7% -5.1% FY25 FY24 FY 23 37 37
Slide 39: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), which have been prepared by V2 Retail Ltd. (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and
Slide 40: Investor Relations contacts
Value& V2 Variety MEN'S WEAR | WOMEN'S WEAR | KIDS WEAR | LIFESTYLE AAN149 hs B49 | ere yy 99 | 99 |e Investor Relation Advisor Dr. Rahul Porwal / Mr. Amit Porwal Marathon Capital Advisory Private Limited pany Secretary & Compliance Officer Tel : +#91-22-40030610 / 9967576900 / 9819773905 . V2 Retai