V2 Retail Limited
NSE: V2RETAILSpeciality Retail
Share price
₹154.50
-0.24% close of 9 Oct 2026
Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 8 Oct 2026, the close above is 9 Oct 2026.
Business score
How strong the business is, in one number. The parts behind it are in Pro.
68
out of 100 · worked out 8 Oct 2026
Your ratios
The numbers you want to see first. Tap Edit to change them.
Market cap
₹5,562 Cr
P/E ratio
35.0
P/B ratio
6.2
ROCE
19.3%
ROE
22.9%
Dividend yield
0.0%
Price & valuation chart
How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.
Answers
Simple answers to the questions investors ask most, from the company's own numbers.
How fast it has been growing
Sales grew 63.3% over the past year, and 40.2% a year over its longer record. Meanwhile what it keeps of every 100 rupees of sales improved from 10.7% to 14.6% over the last four years.
Whether it grew faster than its sector
It grew 40.2% a year against a sector median of 13.9% — 26.2 percentage points faster.
Room to re-rate, or risk of de-rating
Too little price history yet to compare it with its own past.
Whether growth justifies the valuation
Priced at 0.3 times its growth rate, on earnings growth of 135%.
| Profit growth | Price per ₹1 profit | Per 1% growth | |
|---|---|---|---|
| V2 Retail Limited — this one | 135%/yr | 35.1× | — |
| Trent Limited | 71%/yr | 83.9× | ₹1.2 |
| Lenskart Solutions Limited | 110%/yr | 172.4× | — |
| Vedant Fashions Limited | -5%/yr | 30.5× | — |
| Aditya Birla Lifestyle Brands Limited | — | 41.2× | — |
| Aditya Vision Limited | 23%/yr | 56.5× | ₹2.5 |
Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
How it compares with its peers
Against companies the exchange files under the same label (Speciality Retail), it ranks 6 of 18 on returns, 4 of 17 on growth, 8 of 18 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
What makes it hard to beat — and is that still true?
A narrow advantage: it earns 19.3% on capital, ahead of 67% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
Whether its growth pays for itself
Yes — Over the last five years it made ₹336 crore of cash from the business and spent ₹287 crore on plant and equipment, with ₹49 crore to spare; it still raised ₹64 crore mostly borrowed — borrowings rose from ₹398 crore to ₹995 crore. It has not made a profit over 12 years.
Profit reality check
Is the profit real cash? Simple checks on the accounts. Facts only, not advice.
7 of 9 checks clear · 78%
Latest result · Q1 FY27
What the last results showed. Whether management kept its word is in Pro.
Revenue grew 58% while management raised store-opening and gross-margin targets.
Announced 13 Aug 2026 · Consolidated · Unaudited
Revenue
₹997 Cr
Revenue vs last year
+57.8%
Revenue vs last quarter
+25.1%
Net profit
₹42 Cr
Profit vs last year
+67.4%
Profit vs last quarter
+132.5%
Net margin
4.2%
EPS
₹1.15
Earnings call transcript · 14 Aug 2026
Checklist before you investPRO
Points for and against, in one list.
Key numbers & peers
The main numbers grouped by topic, and how the company compares with similar ones.
Price
- Market cap
- ₹5,562 Cr
- Prev close
- ₹154.50
- 52w High
- ₹259
- 52w Low
- ₹151
- Enterprise value
- ₹6,550 Cr
- Beta
- 0.8
- Price CAGR 1y
- -31.0%
- Price CAGR 3y
- 113.0%
- Price CAGR 5y
- 59.0%
- Price CAGR 10y
- 28.0%
Ratios
- Return on assets
- 6.7%
- PEG ratio
- 0.3
- P/E ratio
- 35.0
- P/B ratio
- 6.2
- EV / EBITDA
- 12.9
- Industry P/E
- 41.4
- ROCE
- 19.3%
- ROCE 5y average
- 11.0%
- ROE
- 22.9%
- Debt / Equity
- 1.1
- Interest coverage
- 3.1
- Dividend yield
- 0.0%
- ROE 3y average
- 20.0%
- ROE last year
- 23.0%
Annual P&L
- Annual revenue
- ₹3,067 Cr
- Annual profit
- ₹162 Cr
- Operating margin
- 15.0%
- Net profit margin
- 5.3%
- EBITDA margin
- 15.4%
- Sales growth 3y
- 54.0%
- Sales growth 5y
- 41.6%
- Profit growth 3y
- 135.0%
- Profit growth 5y
- 67.0%
- EPS
- ₹4.4
- Sales growth TTM
- 63.0%
- Profit growth TTM
- 97.0%
- Dividend payout
- 0.0%
Quarter P&L
- Sales latest quarter
- ₹997 Cr
- Profit latest quarter
- ₹42 Cr
- YoY quarterly sales growth
- 57.7%
- YoY quarterly profit growth
- 68.0%
- OPM latest quarter
- 14.0%
Balance Sheet
- Book Value
- ₹25.1
- Face Value
- ₹1.0
- Total debt
- ₹995 Cr
- Total cash
- ₹7 Cr
- Borrowings
- ₹995 Cr
- Reserves / Equity
- 24.1
Cash Flow
- Operating cash flow
- -₹103 Cr
- Free cash flow
- -₹324 Cr
- FCF yield
- -7.6%
- Net cash flow
- -₹3 Cr
Shareholding
- Promoter holding
- 51.4%
- FII holding
- 3.1%
- DII holding
- 10.7%
- Public holding
- 34.8%
Peer comparison
| Company | Price ₹ | P/E | Mkt cap ₹ Cr | Div yield % | Profit qtr ₹ Cr | Profit var % | Sales qtr ₹ Cr | Sales var % | ROCE % |
|---|---|---|---|---|---|---|---|---|---|
| Trent | 2,887.05 | 84.2 | 1,53,947 | 0.14 | 518.1 | 20.8 | 5,754.7 | 17.8 | 28.3 |
| Lenskart Solut. | 658.10 | 173.8 | 1,14,464 | 0.00 | 228.4 | 240.3 | 2,714.2 | 43.3 | 8.1 |
| Vedant Fashions | 490.00 | 30.8 | 11,906 | 1.63 | 80.6 | 14.7 | 301.4 | 7.2 | 22.8 |
| A B Lifestyle | 72.04 | 41.2 | 8,793 | 0.68 | 29.0 | 20.6 | 2,045.7 | 11.2 | 15.0 |
| Aditya Vision | 599.20 | 55.2 | 7,738 | 0.20 | 77.2 | 40.0 | 1,192.7 | 26.9 | 17.1 |
| V2 Retail | 155.10 | 35.6 | 5,655 | 0.00 | 41.9 | 69.7 | 997.2 | 57.7 | 19.3 |
| Aditya Bir. Fas. | 43.20 | 5,273 | 0.00 | -248.7 | -1.5 | 2,025.6 | 10.6 | -3.8 | |
| Arvind Fashions. | 392.30 | 40.0 | 5,245 | 0.40 | 27.6 | -23.6 | 1,278.5 | 15.5 | 19.6 |
| Median | 155.10 | 35.6 | 2,828 | 0.00 | 7.8 | 13.7 | 470.9 | 16.6 | 15.0 |
Competes with: Aditya Birla Fashion and Retail Limited, Aditya Birla Lifestyle Brands Limited, Aditya Vision Limited, Arvind Fashions Limited, Avenue Supermarts Limited, Baazar Style Retail Limited, Brand Concepts Limited, Credo Brands Marketing Limited, Go Fashion (India) Limited, Lenskart Solutions Limited, Praxis Home Retail Limited, Purple Style Labs Limited, SS Retail Limited, Sai Silks (Kalamandir) Limited, Shankara Building Products Limited, Shankara Buildpro Limited, Trent Limited, Vedant Fashions Limited
Quarterly results
Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.
| Line item | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 264 | 231 | 374 | 296 | 415 | 380 | 591 | 499 | 632 | 709 | 929 | 797 | 997 |
| Expenses | 228 | 211 | 313 | 265 | 360 | 347 | 479 | 441 | 545 | 623 | 755 | 688 | 858 |
| Material Cost | 6.22 | 11 | 5.87 | 5.86 | 8.93 | 0 | |||||||
| Change in Inventories | -60 | -91 | -188 | -18 | -309 | -158 | |||||||
| Purchases of Stock-in-Trade | 412 | 525 | 691 | 639 | 855 | 870 | |||||||
| Employee Cost | 42 | 53 | 57 | 61 | 73 | 80 | |||||||
| Other Expenses | 41 | 47 | 57 | 67 | 60 | 65 | |||||||
| Operating Profit | 36 | 20 | 61 | 31 | 55 | 33 | 111 | 58 | 87 | 85 | 174 | 109 | 139 |
| OPM % | 14 | 8.59 | 16 | 11 | 13 | 8.70 | 19 | 12 | 14 | 12 | 19 | 14 | 14 |
| Other Income | 1 | 2 | 3 | 1 | 1 | 3 | 1 | 2 | 1 | 1 | 32 | 4 | 1 |
| Exceptional items (within Other Income) | 0 | 0 | 0 | 28 | 0 | 0 | |||||||
| Interest | 10 | 12 | 12 | 13 | 14 | 15 | 18 | 21 | 23 | 28 | 22 | 24 | 25 |
| Depreciation | 18 | 18 | 21 | 19 | 21 | 23 | 26 | 28 | 32 | 38 | 46 | 67 | 64 |
| Profit before tax | 8 | -8 | 31 | 0 | 22 | -2 | 69 | 10 | 33 | 21 | 138 | 22 | 52 |
| Tax % | 26 | -33 | 25 | -7,100 | 25 | -20 | 25 | 38 | 26 | 18 | 26 | 22 | 19 |
| Net Profit | 6 | -6 | 24 | 4 | 16 | -2 | 51 | 6 | 25 | 17 | 103 | 18 | 42 |
| EPS in Rs | 0.18 | -0.16 | 0.68 | 0.10 | 0.47 | -0.06 | 1.48 | 0.19 | 0.71 | 0.50 | 2.82 | 0.48 | 1.15 |
| Diluted EPS in Rs | 1.86 | 7.13 | 4.95 | 29 | 0.50 | 1.15 |
Profit & loss
Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.
| Line item | Mar 2010 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,105 | 42 | 109 | 229 | 287 | 701 | 538 | 629 | 839 | 1,165 | 1,884 | 3,067 | 3,432 |
| Expenses | 1,565 | 52 | 108 | 223 | 258 | 624 | 488 | 562 | 753 | 1,016 | 1,624 | 2,595 | 2,924 |
| Material Cost | 99 | 32 | |||||||||||
| Change in Inventories | -146 | -605 | |||||||||||
| Purchases of Stock-in-Trade | 1,333 | 2,710 | |||||||||||
| Employee Cost | 159 | 244 | |||||||||||
| Other Expenses | 182 | 231 | |||||||||||
| Operating Profit | -460 | -9 | 1 | 5 | 28 | 77 | 50 | 67 | 85 | 149 | 260 | 472 | 508 |
| OPM % | -42 | -21 | 0.90 | 2.20 | 10 | 11 | 9 | 11 | 10 | 13 | 14 | 15 | 15 |
| Other Income | -41 | 1 | 1 | 2 | 2 | 15 | 23 | 16 | 7 | 7 | 6 | 25 | 38 |
| Exceptional items (within Other Income) | 0 | 28 | |||||||||||
| Interest | 91 | 8 | 7 | 9 | 10 | 33 | 33 | 39 | 42 | 49 | 70 | 100 | 99 |
| Depreciation | 47 | 3 | 2 | 3 | 2 | 51 | 56 | 59 | 67 | 77 | 99 | 182 | 214 |
| Profit before tax | -639 | -19 | -7 | -5 | 18 | 9 | -15 | -15 | -17 | 31 | 98 | 215 | 233 |
| Tax % | -35 | 81 | -26 | -18 | 47 | -1 | -16 | -21 | -24 | 11 | 27 | 24 | |
| Net Profit | -415 | -35 | -5 | -4 | 10 | 9 | -13 | -12 | -13 | 28 | 72 | 162 | 179 |
| EPS in Rs | -19 | -1.55 | -0.24 | -0.19 | 0.41 | 0.26 | -0.38 | -0.34 | -0.37 | 0.80 | 2.08 | 4.44 | 4.95 |
| Diluted EPS in Rs | 21 | 4.58 | |||||||||||
| Dividend Payout % | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 |
Compounded growth
Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.
Compounded sales growth
- 10 years
- 54%
- 5 years
- 42%
- 3 years
- 54%
- TTM
- 63%
Compounded profit growth
- 10 years
- —
- 5 years
- 67%
- 3 years
- 135%
- TTM
- 97%
Stock price CAGR
- 10 years
- 28%
- 5 years
- 59%
- 3 years
- 113%
- 1 year
- -31%
Return on equity
- 10 years
- —
- 5 years
- 13%
- 3 years
- 20%
- Last year
- 23%
Balance sheet
What the company owns and what it owes, at the end of each year. ₹ crore.
| Line item | Mar 2010 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 22 | 22 | 22 | 22 | 24 | 34 | 34 | 34 | 34 | 35 | 35 | 36 |
| Reserves | -255 | 252 | 247 | 240 | 251 | 245 | 235 | 224 | 213 | 240 | 312 | 866 |
| Borrowings | 766 | 57 | 71 | 84 | 69 | 326 | 396 | 398 | 424 | 525 | 871 | 995 |
| Other Liabilities | 245 | 11 | 28 | 39 | 61 | 115 | 148 | 136 | 123 | 227 | 381 | 525 |
| Total Liabilities | 778 | 343 | 368 | 385 | 405 | 721 | 813 | 792 | 793 | 1,027 | 1,599 | 2,422 |
| Fixed Assets | 222 | 7 | 9 | 14 | 18 | 339 | 395 | 394 | 408 | 480 | 863 | 968 |
| CWIP | -0 | 0 | 1 | 0 | 1 | 4 | 5 | -0 | 0 | 0 | 4 | 36 |
| Investments | -0 | 33 | 32 | 31 | 30 | -0 | -0 | -0 | -0 | -0 | -0 | -0 |
| Other Assets | 557 | 303 | 326 | 340 | 355 | 378 | 414 | 398 | 385 | 547 | 732 | 1,418 |
| Total Assets | 778 | 343 | 368 | 385 | 405 | 721 | 813 | 792 | 793 | 1,027 | 1,599 | 2,422 |
Cash flows
Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.
| Line item | Mar 2010 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 57 | -38 | -12 | 12 | 35 | 74 | 3 | 59 | 86 | 93 | 201 | -103 |
| Cash from Investing Activity | 5 | -1 | -4 | -7 | -6 | 7 | -20 | -16 | -12 | -39 | -130 | -219 |
| Cash from Financing Activity | -66 | 6 | 8 | -4 | -30 | -28 | -22 | -58 | -76 | -50 | -71 | 319 |
| Net Cash Flow | -4 | -33 | -8 | 0 | -1 | 52 | -39 | -15 | -2 | 5 | -0 | -3 |
| Free Cash Flow | 62 | -35 | -16 | 5 | 29 | 63 | -24 | 43 | 73 | 56 | 201 | -324 |
Ratios
How fast customers pay, how long stock sits, and how well capital earns — year by year.
| Line item | Mar 2010 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 1 | 4 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 |
| Inventory Days | 64 | 187 | 207 | 118 | 141 | 156 | 308 | 264 | 184 | 199 | 159 | 195 |
| Days Payable | 52 | 91 | 114 | 60 | 63 | 75 | 134 | 108 | 70 | 92 | 92 | 79 |
| Cash Conversion Cycle | 13 | 100 | 93 | 58 | 79 | 81 | 174 | 156 | 114 | 107 | 66 | 116 |
| Working Capital Days | 13 | -265 | -59 | -32 | -27 | 40 | 72 | 70 | 51 | 42 | 19 | 48 |
| ROCE % | -68 | 0 | 1 | 8 | 3 | 4 | 4 | 11 | 17 | 19 |
Price trend
The price as a Renko brick chart: small moves drop out so the bigger path stands out.
Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.
Open interestPRO
Where option traders are positioned on this stock.
Industry numbers
The numbers that matter most in this industry, from the company's own filings.
1 when an audit qualification is filed as repetitive
0.00flag
2026-03-31
the company's own unlisted debt securities in default at period end
0.00cr
2026-06-30
the company's own loans / revolving facilities in default at period end (standalone filing)
0.00cr
2026-06-30
net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash
988inr_cr
2026-03-31
guarantees / comfort given for promoter, promoter group, directors and KMP
0.00cr
2026-03-31
loans outstanding to promoter, promoter group, directors and KMP (governance filing)
0.00cr
2026-03-31
security given for the borrowing of promoter, promoter group, directors and KMP
0.00cr
2026-03-31
FY revenue / permanent employees + workers, same basis (calc)
29,04,081inr
2026-03-31
same-store sales growth %
7.50pct
2026-06-30
stores / outlets at period end
381count
2026-06-30
volume growth %
56.00pct
2026-06-30
News
News and filings about V2 Retail Limited. Open one to see why it matters.
No recent news for this company.
Supply chain
Who it buys from, sells to and competes with — as recorded in our map of company links.
Competes with
- Aditya Birla Fashion and Retail Limited
- Aditya Birla Lifestyle Brands Limited
- Aditya Vision Limited
- Arvind Fashions Limited
- Avenue Supermarts Limited
- Baazar Style Retail Limited
- Brand Concepts Limited
- Credo Brands Marketing Limited
- Go Fashion (India) Limited
- Lenskart Solutions Limited
- Praxis Home Retail Limited
- Purple Style Labs Limited
- SS Retail Limited
- Sai Silks (Kalamandir) Limited
- Shankara Building Products Limited
- Shankara Buildpro Limited
- Trent Limited
- Vedant Fashions Limited
Uses as raw material
- fabric & apparel raw materials (consumed by in-house subsidiary V2 Smart Manufacturing Pvt Ltd; most merchandise is purchased finished garments for resale)
About
What the company is, from our own records: where it sits, where it makes things, and what it is made of.
- Sector
- Consumer Services
- Industry
- Speciality Retail
- Classification
- Consumer Services › Speciality Retail
- ISIN
- INE945H01021
Plants
- V2 Smart Manufacturing Pvt Ltd — apparel manufacturing unit
News impact
Big market events that reach V2 Retail Limited, and how the effect spreads.
25 Jun, 04:40 IST · Market event · high impact
Noel Tata steps down as Trent chairman after shaping retail chain growth
Who it hits first
- Trent: leadership transition risk; possible strategic recalibration
- Tata Group: succession planning visibility
Who may gain
- V2 Retail, ABFRL, Reliance Trends, Lenskart, MUFTI: window to take share if Trent stumbles
Along the supply chain
Downstream
Trent consumer (mid-market) unchanged; same store footfall maintained near-term
Upstream
Garment manufacturers (suppliers to Trent) unchanged; new sourcing strategies possible under new chairman
Where demand moves
Business
Fast fashion competitive intensity rises; Zudio momentum continues but Trent strategic clarity awaits
Capital
Trent premium multiple at risk; capital seeking fashion exposure may diversify across players
How it spreads across sectors
Consumer Services
Branded fashion sector sees competitive jostling; valuation premium for Trent may compress
Dividends, splits & big trades
Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.
Dividends
| 25 Mar 2026 | split | ₹0 |
|---|
Splits, bonuses & buybacks
- daily-prices repair: 9 rows from NSE's archive (replace 1, delete 1, insert 7), 2016-10-30..2026-02-01 (docs/flat_day_repair.md)1× · 30 Oct 2016
Documents
Annual reports, results presentations and earnings calls, straight from the source.
- Earnings call23 Aug 2026
- Earnings call14 Aug 2026
- Annual report · 2025-268 Jul 2026
- Earnings call · Q3FY264 Feb 2026
Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.