V-mart Retail Ltd · NSE:VMART
V-mart Retail — Q1 FY2027 Earnings Presentation
32 slides from V-mart Retail's earnings presentation, Jul 24, 2026
Slide 1: Exchange cover letter: Presentation to Analysts/Investors
Ref. No. CS/S/L-991/2026-27 24th July, 2026 To: To: The Listing Department The Corporate Relationship Department NATIONAL STOCK EXCHANGE OF INDIA LIMITED THE BSE LTD “Exchange Plaza” Phiroze Jeejeebhoy Towers, Bandra Kurla Complex, Dalal Street, Mumbai – 400 001 Bandra (E ), Mumbai – 400 051 Scrip C
Slide 2: Investor Presentation Q1 FY'27 - V-Mart Retail Limited
INVESTOR PRESENTATION · Q1 FY’27 V-Mart Retail Limited www.vmart.co.in | www.limeroad.com
Slide 3: Disclaimer
This presentation by V-Mart Retail Limited (“V-Mart”) does not constitute a prospectus, placement memorandum, or an offer to acquire any securities. It should not be deemed an offer in any form. No representation or warranty, express or implied, is made regarding the fairness, accuracy, completeness
Slide 4: Q1 FY'27 Key Performance Highlights
Q1 FY’27 Key Performance Highlights Financial Parameters Operational Parameters 3 V-MART RETAIL LIMITED
Slide 5: Key Highlights: Q1 FY'27 vs Q1 FY'26
Key Highlights: Q1 FY’27 vs Q1 FY’26 Q1 FY’27 Broad-based growth across revenue, profitability and customer base demonstrates improving business momentum and execution quality. ₹10,888 Mn ₹1,606 Mn ₹410 Mn ₹472 Mn Revenue EBITDA · 14.8% of Revenue Pre-Ind AS PAT · 3.8% of Revenue Post-Ind AS PAT · 4
Slide 6: Financial Parameters
Financial Parameters Q1 FY’27 EBITDA outpaced revenue growth, reflecting operating leverage and disciplined cost management while maintaining a stable revenue mix. Revenue from Operations (₹ Millions) Revenue Mix (%) Q1 FY'26 Q1 FY'27 Q1 FY'26 Q1 FY'27 23%▲ 21%▲ 80% 81% 10,888 8,852 8,992 7,407 33%▲
Slide 7: Operational Parameters – Key Performance Indicators
Operational Parameters – Key Performance Indicators Q1 FY’27 Higher footfall and memo growth continue to strengthen customer engagement while maintaining pricing discipline. Footfall (Millions) Memo (Millions) 28 11 20 9 39%▲ 18%▲ Q1 FY'26 Q1 FY'27 Q1 FY'26 Q1 FY'27 Average Transaction Size (₹) Aver
Slide 8: Operational Parameters – Network & Space
Operational Parameters – Network & Space Q1 FY’27 Tier 4 markets delivered the highest SPSF growth (+15% YoY), reinforcing the huge potential in Tier 4 Markets. Store Count (Nos) Tier Wise Sales per square feet (Per Month) (₹) Q1 FY'26 Q1 FY'27 Q1 FY'26 Q1 FY'27 16%▲ 7%▲ 2%▲ 9%▲ 7%▲ 15%▲ 591 767 745
Slide 9: Operational Parameters – Efficiency
Operational Parameters – Efficiency Q1 FY’27 Improved merchandise assortment and supply chain efficiencies led to improvement in inventory days alongside higher SSSG. Same Store Sales Growth (SSSG) (%) Same Store Volume Growth (SSVG) (%) Q1 FY'26 Q1 FY'27 Q1 FY'26 Q1 FY'27 13% 13% 9% 8% 6% 6% 5% 1%
Slide 10: Operating Expenses
Operating Expenses Q1 FY’27 Continued Cost Discipline; Operating expenses remained in line with Store expansion. Manpower (₹ Millions) Power & fuel (₹ Millions) 17%▲ Q1 FY'26 Q1 FY'27 17%▲ Q1 FY'26 Q1 FY'27 1,112 19%▲ 433 18%▲ 950 903 370 356 759 302 18%▲ 14%▲ 150 177 67 76 40 32 0 0 Total V-Mart Un
Slide 11: a | FIT
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Slide 12: LimeRoad: NMV rises 18% while Losses shrink 39% YoY
LimeRoad: NMV rises 18% while Losses shrink 39% YoY Q1 FY’27 Strengthening the omni-channel ecosystem through LimeRoad Marketplace. NMV and EBITDA (₹ Millions) 235 222 192 205 188 46 35 30 28 23 Q1 FY'26 Q2 FY'26 Q3 FY'26 Q4 FY'26 Q1 FY'27 NMV EBITDA Loss V-Mart’s Sale Mix V-Mart Inventory contribut
Slide 13: Q1 FY'27 Financial Statements
Q1 FY’27 Statement of Profit & Loss Balance Sheet Cash flow Statement 12
Slide 14: Statement of Profit & Loss
Statement of Profit & Loss Q1 FY’27 PAT growth significantly outpaced revenue growth, reflecting improving operating leverage and earnings quality. ₹ Millions Post Ind AS 116 Pre Ind AS 116 Q1 FY'27 Q1 FY'26 YOY Q1 FY'27 Q1 FY'26 YOY Particulars (Unaudited) (Unaudited) % (Unaudited) (Unaudited) % Re
Slide 15: Ind-AS 116: P&L Impact
Ind-AS 116: P&L Impact Q1 FY’27 ₹ Millions Q1 FY'27 Q1 FY'26 Pre-Ind Increased/ Post-Ind Pre-Ind Increased/ Post-Ind Particulars AS 116 (Decreased) AS 116 AS 116 (Decreased) AS 116 Other Expenses* 1,807 -774 1,033 1,562 -649 912 EBITDA 832 774 1,606 612 649 1,262 Finance Cost 57 141 198 72 111 182 D
Slide 16: Balance Sheet
Balance Sheet Q1 FY’27 Prudent Capital Management with Debt-Free Expansion and Optimized Inventory. ₹ Millions As At As At Particulars June 30, 2026 March 31, 2026 Particulars June 30, 2026 March 31, 2026 (Unaudited) (Audited) (Unaudited) (Audited) EQUITY AND LIABILITIES ASSETS Equity Property, plan
Slide 17: Cash Flow Statement
Cash Flow Statement Q1 FY’27 ₹ Millions For the period ended For the period ended Free Cash Flow Particulars June 30, 2026 June 30, 2025 (Pre-Ind AS 116) June 30, 2026 June 30, 2025 (Unaudited) (Unaudited) (A) Cash flows from Operating activities Net cash flow from operating activities (A) 1,983 2,1
Slide 18: Q1 FY'27 Store Geographical Spread; Other Significant Updates
Q1 FY’27 Store Geographical Spread Other Significant Updates 17 V-MART RETAIL LIMITED
Slide 19: Cluster-Based Expansion — New Store Additions
Cluster-Based Expansion — New Store Additions Q1 FY’27 A rapidly expanding pan-India footprint. New Stores by State (Q1 FY’27) New Stores by Tier Tier 1: 3 Uttar Pradesh 7 2 3 Tier 2: 6 Uttarakhand Tier 3: 4 2 4 Tier 4: 2 Gujarat 6 1 New Delhi 1 15 Karnataka 1 Jharkhand 1 New stores opened in Q1 FY’
Slide 20: Total Stores as on 30th June 2026
Total Stores as on 30th June 2026 Q1 FY’27 STATE Q1 FY'27 Q1 FY'26 V-mart UTTAR PRADESH 183 158 BIHAR 82 72 591 215 TAMIL NADU 39 33 11 Stores in JHARKHAND 33 29 Stores as on 30th June 2026 Tier I & II cities RAJASTHAN 33 29 1 WEST BENGAL 25 20 5 KARNATAKA 20 17 20 5 UTTARAKHAND 22 17 2 MADHYA PRADE
Slide 21: New Stores Opened — Q1 FY'27
New Stores Opened — Q1 FY’27 Q1 FY’27 Karnataka Gujarat Uttar Pradesh 20 V-MART RETAIL LIMITED
Slide 22: V-Mart at a Glance
V-Mart at a Glance Our Story Historical Performances Leadership Business Ecosystem 21 V-MART RETAIL LIMITED
Slide 23: Driving Product Portfolio & Strong Private Labels
Driving Product Portfolio & Strong Private Labels Men ▪ Casual Wear ▪ Sports/ 44% ▪ Formal Wear Activewear FMCG ▪ Ethnic Wear ▪ Innerwear ▪ Personal & ▪ Beauty & Home Cosmetics 10% FMCG Essentials ▪ Packaged Women 29% 9% Accessories Staples ▪ Western Wear ▪ Activewear 81% Apparels ▪ Ethnic Wear ▪ In
Slide 24: Delivering Fashion, Variety & Affordability
Delivering Fashion, Variety & Affordability 23 V-MART RETAIL LIMITED
Slide 25: Integrated Supply Chain & Future-Ready Infrastructure
Integrated Supply Chain & Future-Ready Infrastructure Investments in supply chain infrastructure enhance speed of delivery, inventory availability at store and inventory productivity. 600+ Vendors supplying inventory across categories 2 Warehouses Palwal (near Delhi) & Bengaluru 6 Lakh sq.ft. Owned
Slide 26: Historical Scale Expansion & Customer Growth
Historical Scale Expansion & Customer Growth Growing Store Count Expanding Retail Space (Mn sq. ft.) Total Stores New Stores Opened 4 years CAGR 11% 577 5.0 497 4.3 444 3.7 3.9 423 380* 3.3 266 279 92 2.2 2.3 59 62 55 46 39 20 FY20 FY21 FY22 FY23 FY24 FY25 FY26 FY20 FY21 FY22 FY23 FY24 FY25 FY26 Inc
Slide 27: Historical Financial Growth & Value Creation
Historical Financial Growth & Value Creation Consistent Revenue Growth (₹ Mn) Profitable Growth (₹ Mn) Revenue YoY Growth 4 years CAGR 23% EBITDA % 4 years CAGR 26% 37,894 13.5% 32,539 12.9% 10.9% 11.6% 27,856 24,648 7.7% 16,620 48% 16% 13% 17% 16% 2,138 2,689 2,131 3,771 5,134 FY20 FY23 FY24 FY25 F
Slide 28: Historical Productivity & Operational Excellence
Historical Productivity & Operational Excellence Average Transaction Size (₹) & Apparels ASP (₹) Days of Inventory (DOI) Average Transaction Size Average Selling Price (Apparels) 114 113 1,100 1,065 1,045 96 93 1,033 86 789 334 382 358 354 362 FY20 FY23 FY24 FY25 FY26 FY20 FY23 FY24 FY25 FY26 Same S
Slide 29: Awards & Recognition
Awards & Recognition Industry recognition reflects the strength of the brand and execution capabilities. Silver Shield - ICAI Awards for 24th ICSI National Awards for Globally ranked 19th best Ambition Box Employer Exellence in Financial Exellence in Corporate Integrated Annual Report in Choice Awar
Slide 30: Experienced Board Driving Long-Term Value
Experienced Board Driving Long-Term Value Aakash Moondhra Lalit Agarwal Madan Gopal Agarwal Chairperson & Non- Promoter & Managing Promoter & Whole Time Executive Director Director Director ▪ Former Global CFO of Naspers Fintech and PayU ▪ 25+ years of retail experience and pioneer in ▪ 56+ years of
Slide 31: Leadership Team Executing the Growth Strategy
Leadership Team Executing the Growth Strategy Anand Agarwal Jayesh Kothari Jaideep Jaiman Nitin Goel CFO & COO Head Buying & Chief Digital Officer Head Inventory Planning Merchandising 25+ years of experience in strategic 30+ years of experience in Buying 14 years of experience across Retail, 15+ ye
Slide 32: Thank You
Thank You www.vmart.co.in | www.limeroad.com For further information, please contact: Suraj Rathor · suraj.rathor@vmartretail.com Investor Relations · ir_vmart@vmartretail.com V-MART RETAIL LIMITED 31