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V Mart Retail

V-Mart Retail Ltd

VMART NSE
₹734.05 No trade today
P/E
42.41
View as Markdown
MCP
Close 4 Nov 2026 ₹734.05 −85.85 −10.5% 1Y
Start ₹819.90

Key Fundamentals

MicrocapRetailConsumer Services

Price-based figures as of · EPS basis: Standalone · TTM

ROCE
13.20%
Debt to Equity
1.01
EPS (TTM)
₹17.31
Book Value
₹119.54
Market Cap
—
P/E (TTM)
42.41
P/B
6.14
ROE
14.20%
Dividend Yield
0.14%
EBITDA
₹529 Cr
52W High
₹882.00
52W Low
₹457.90
Volume
0

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

50 Average

Data confidence 100/100

Category scores

Quality
55
Good
Returns, margins, earnings quality 22% weight
Valuation
52
Average
Cheap vs sector & own history 24% weight
Growth
65
Good
Sales & profit trajectory 9% weight
Financial Health
28
Poor
Solvency, leverage, coverage 9% weight
Momentum
51
Average
Trend strength, vol-adjusted 12% weight
Ownership
46
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Company has delivered good profit growth of 83.0% CAGR over last 5 years

Weaknesses

2
  • Stock is trading at 6.83 times its book value
  • Company has a low return on equity of 2.22% over last 3 years.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1162
OscillatorsBearish261
Moving AveragesStrong Bearish901

Key readings

RSI (14)
35.54
Neutral
MACD (12,26,9)
−16.89
Bearish
SMA (50)
796.06
Bearish
SMA (200)
695.03
Bullish

As of

Analyst Rating

Based on 14 analysts
BUY100%

14 of 14 analysts rate Buy, 0 Hold, 0 Sell.

As of

BUY
14
100%
HOLD
0
0%
SELL
0
0%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+16.70%
5Y+28.65%
3Y+15.41%
1Y+16.44%
TTM+19.09%

Net profit

Net profit growth by window
10Y+16.04%
5YTurned to profit
3YTurned to profit
1Y+169.57%
TTM+101.47%

Operating cash flow

Operating cash flow growth by window
10Y+26.97%
5Y+27.45%
3Y+41.46%
1Y+43.55%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+5.91 pp
5Y+1.38 pp
3Y+2.66 pp
1Y+1.89 pp
TTM+1.70 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹1,002 Cr
Mar 2018₹1,222 Cr
Mar 2019₹1,434 Cr
Mar 2020₹1,662 Cr
Mar 2021₹1,075 Cr
Mar 2022₹1,666 Cr
Mar 2023₹2,465 Cr
Mar 2024₹2,786 Cr
Mar 2025₹3,254 Cr
Mar 2026₹3,789 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹44.00 Cr
Mar 2018₹78.00 Cr
Mar 2019₹62.00 Cr
Mar 2020₹49.00 Cr
Mar 2021−₹6.00 Cr
Mar 2022₹12.00 Cr
Mar 2023−₹8.00 Cr
Mar 2024−₹97.00 Cr
Mar 2025₹46.00 Cr
Mar 2026₹124 Cr

Analyst Forecasts

Forecast For
Dec 26 consensus · EBITDA
₹248 Cr +180.1% vs Sep 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Generated 6 Jul 2026
AI opinion · based on fundamentals
Risk high

V-Mart Retail Ltd is a mid-cap value retailer with a market cap of ₹6,318 Cr trading at a PE of 51.2x. The company has shown a sharp profit recovery with TTM profit growth of 422%, though its 3-year average ROE remains low at 2% and the stock trades at 6.67x book value.

Bull Case 7
  • Exceptional TTM profit growth of 422% signals a strong earnings recovery cycle
  • Compounded profit CAGR of 83% over 5 years demonstrates long-term earnings momentum
  • Last year ROE surged to 14%, a significant improvement from the 3-year average of 2%
  • TTM sales growth of 16% shows continued top-line expansion and store-level demand
  • 10-year compounded sales CAGR of 17% reflects consistent revenue scaling over a long period
  • 10-year stock CAGR of 21% indicates sustained long-term wealth creation
  • 3-year compounded profit CAGR of 144% shows rapid normalization from pandemic-era lows
Bear Case 8
  • PE ratio of 51.2x is elevated for a value retail business, pricing in significant future growth
  • Price-to-book of 6.67x is high relative to the capital-intensive retail model
  • 3-year average ROE of just 2% suggests poor capital efficiency over a meaningful period
  • 5-year average ROE of only 1% indicates structurally weak return generation through a full cycle
  • 1-year stock CAGR of just 1% shows the market has not rewarded the earnings recovery in share price terms
  • 5-year stock CAGR of only 1% implies nearly zero capital appreciation over half a decade despite 29% sales CAGR
  • Dividend yield of 0.13% offers negligible income return to shareholders
  • The gap between 5-year sales CAGR of 29% and 5-year stock CAGR of 1% suggests margin compression and dilution eroded shareholder value

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

121d ago

TL;DR: V-Mart is delivering strong top-line and profitability growth with FY26 EBITDA up 36% and Q1FY27 revenue accelerating to 23% YoY on healthy same-store sales. Store expansion continues at a brisk pace with 577 stores now operational. The main near-term risk is the COO departure mid-growth phase, though the CFO stepping into the role provides continuity. The growth trajectory is clearly improving and momentum appears sustainable heading into FY27.

Headwinds 1
  • COO resigns, leadership transition Jun 10

    COO Vineet Jain resigns effective July 15, 2026. CFO Anand Agarwal will assume dual role as COO, creating key-man risk during growth phase.

Positives 3
  • Q1FY27 revenue surges 23% YoY Jul 1

    V-Mart reported Q1FY27 revenue of Rs. 1,089 Cr, up 23% YoY with 9% SSSG and 15 new store openings in the quarter.

  • FY26 EBITDA jumps 36% Jul 2

    Full-year revenue rose 16% to Rs 3,789 crore while EBITDA surged 36% to Rs 513 crore for FY26, indicating significant margin expansion.

  • ₹1 per share dividend declared Jul 2

    V-Mart declared a final dividend of ₹1 per share for FY26. AGM scheduled for July 30, 2026, with record date of July 17.

Neutral 2
  • BRSR filed, 577 stores reported Jul 2

    V-Mart filed its FY26 BRSR disclosing 577 stores, 13,929 employees, and 1.2% of capex invested in environmental technologies.

  • Dividend record date July 17 Jun 24

    Record date set as July 17, 2026, to determine eligibility for the recommended ₹1.00 per share FY26 dividend.

Quarterly Results

₹ Cr
VMART quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
679
549
889
669
786
661
1,027
780
885
807
1,126
971
1,089
953
Expenses
626
549
769
628
687
622
855
712
759
735
917
865
928
867
Operating Profit
52
1
120
40
99
39
171
68
126
72
210
106
161
86
OPM %
8%
0.1%
13%
6%
13%
6%
17%
9%
14%
9%
19%
11%
15%
9%
Other Income
2
2
13
4
5
2
3
27
3
3
2
4.72
3
3
Interest
33
36
38
36
37
39
42
17
18
17
21
19
20
21
Depreciation
50
53
58
61
57
59
63
54
68
71
78
80
84
89
PBT
−29
−86
37
−52
9
−58
70
23
43
−14
113
13
60
−21
Tax %
−24%
−26%
23%
−25%
−30%
−3%
−3%
19%
22%
−35%
22%
10%
21%
−21%
Net Profit
−22
−64
28
−39
12
−57
72
19
34
−9
88
11
47
−16
EPS (₹)
−2.77
−8.11
3.57
−4.92
1.53
−7.14
9.04
2.34
4.23
−1.12
11.08
1.42
5.93
—

Sep 2026: from the results filed on 3 Nov 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
VMART profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
720
809
1,002
1,222
1,434
1,662
1,075
1,666
2,465
2,786
3,254
3,789
3,993
Expenses
657
747
917
1,090
1,301
1,448
944
1,462
2,196
2,570
2,874
3,276
3,445
Operating Profit
64
62
85
133
133
214
131
204
269
215
380
514
548
OPM %
9%
8%
8%
11%
9%
13%
12%
12%
11%
8%
12%
14%
14%
Other Income
0
2
4
4
−4
4
21
14
15
19
34
14
14
Interest
4
3
4
2
2
55
59
77
117
142
136
75
77
Depreciation
5
19
19
23
28
94
103
131
180
222
233
297
313
PBT
55
42
67
112
100
70
−10
10
−13
−130
44
155
171
Tax %
32%
35%
34%
31%
38%
29%
−36%
−12%
−40%
−26%
−4%
20%
—
Net Profit
37
28
44
78
62
49
−6
12
−8
−97
46
124
138
EPS (₹)
5.18
3.82
6.07
10.73
8.5
6.8
−0.79
1.47
−0.99
−12.23
5.78
15.61
17.31
Div. Payout %
7%
8%
5%
5%
5%
0%
0%
13%
0%
0%
0%
6%
—

Balance Sheet

₹ Cr
VMART balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
18
18
18
18
18
18
20
20
20
20
20
79
Reserves
187
213
252
329
391
441
806
830
829
727
790
872
Borrowings
31
27
36
1
0
517
568
902
1,332
1,391
783
958
Other Liabilities
93
126
185
202
222
248
234
348
562
707
844
871
Total Liabilities
329
383
491
550
632
1,224
1,627
2,099
2,743
2,845
2,436
2,780
Fixed Assets
98
110
117
145
165
667
697
1,111
1,445
1,661
1,039
1,366
CWIP
1
2
1
4
4
2
2
6
109
4
4
8
Investments
22
32
72
34
61
8
319
125
9
5
5
18
Other Assets
208
238
300
368
402
546
609
857
1,179
1,176
1,388
1,387
Total Assets
329
383
491
550
632
1,224
1,627
2,099
2,743
2,845
2,436
2,780

Cash Flow

₹ Cr
VMART cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
40
46
69
58
76
86
149
−11
177
386
349
501
Investing
−19
−37
−73
−8
−73
1
−419
124
−159
−118
−122
−174
Financing
−20
−10
5
−38
−4
−94
287
−104
−33
−259
−215
−346
Net Cash Flow
1
−1
1
11
−1
−8
17
8
−15
9
12
−20
Free Cash Flow
6
20
27
10
36
32
109
−161
−101
263
225
337
CFO/OP
89
98
110
72
82
52
116
0
72
180
92
102

Ratios

VMART financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
0
0
0
0
0
0
0
0
0
0
0
0
Inventory Days
132
131
140
135
124
155
216
224
199
163
169
145
Days Payable
54
61
83
73
56
64
97
97
112
127
88
72
Cash Conversion Cycle
78
70
57
62
68
91
119
126
87
36
81
73
Working Capital Days
37
32
22
38
36
41
94
76
38
14
1
1
ROCE %
26%
18%
25%
35%
29%
18%
4%
5%
5%
1%
8%
13%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view V Mart Retail insights

63 extracted metrics across FY10–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 44.14%
  • DIIs 30.64%
  • FIIs 16.40%
  • Public 7.31%
  • Others 1.51%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about V Mart Retail

What does V-Mart Retail Ltd do?
V-Mart Retail is engaged in the business of Value Retailing through the chain of stores situated at various cities in India.
Where is V-Mart Retail Ltd (VMART) listed?
V-Mart Retail Ltd trades as VMART on the NSE and under code 534976 on the BSE.
Which sector does V-Mart Retail Ltd belong to?
V-Mart Retail Ltd is classified under the Retail sector, in the Diversified Retail industry.
What is the PE ratio of V-Mart Retail Ltd?
V-Mart Retail Ltd trades at a PE ratio of 42.41 as of 4 Nov 2026, on earnings per share of ₹17.31, against a book value of ₹119.54 per share.
What is the 52-week high and low of V-Mart Retail Ltd?
Over the last 52 weeks V-Mart Retail Ltd has traded between ₹457.9 and ₹882 as of 4 Nov 2026.
Does V-Mart Retail Ltd pay dividends?
V-Mart Retail Ltd has a dividend yield of 0.14%.
What is the Return on Equity (ROE) of V-Mart Retail Ltd?
V-Mart Retail Ltd reported a return on equity of 14.20%. Its debt-to-equity ratio is 1.01.

Company Information

V-Mart Retail is engaged in the business of Value Retailing through the chain of stores situated at various cities in India.

Website vmart.co.in
CEO Mr. Lalit Madangopal Agarwal
Employees 10,912
Listed 20 Feb 2013
Face Value ₹10

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