Vishal Mega Mart Ltd (NSE: VMM), one of India’s prominent value retail chains, delivered a robust set of financial results for the third quarter of fiscal year 2026 (Q3 FY26), underpinned by a healthy uptick in consumer demand during the festive season and continued expansion of its retail footprint. The company announced its unaudited consolidated financial results for the quarter ended December 31, 2025, at a board meeting held on January 27, 2026.
Revenue and Profit Growth
For Q3 FY26, Vishal Mega Mart reported consolidated revenue from operations of ₹36,704 million, marking a 17.0% year-on-year increase from the same quarter in the prior year. Net profit after tax for the quarter stood at ₹3,129 million, up 19.1% year-on-year, reflecting sustained demand across its retail network.
The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) also expanded, rising nearly 20% to ₹605.1 crore in Q3 FY26, compared with the prior year period. Correspondingly, the EBITDA margin improved slightly, demonstrating improved operational leverage.
Demand Drivers and Same-Store Sales Growth
Management highlighted that robust festive season demand — particularly during key consumption periods — was a significant factor driving revenue growth. Explained in investor communications, adjusted same-store sales growth (SSSG) for the quarter was roughly 9.6%, after factoring in a temporary 2.1% adverse impact from the earlier timing of the Durga Puja festival relative to the previous year.
Store Network Expansion and Footprint Enhancement
Operational expansion remained a cornerstone of the company’s growth strategy. During Q3 FY26, Vishal Mega Mart added 29 gross new stores, further broadening its presence in both existing and new markets. As of December 31, 2025, the company operated 771 stores across 517 cities, covering approximately 13.15 million square feet of retail space. This extensive footprint underlines the company’s focus on penetrating tier-2 and tier-3 markets with value retail offerings.
Nine-Month Performance Trends
On a cumulative basis for the nine months ended December 31, 2025 (9M FY26), the company recorded consolidated revenue of ₹97,922 million, a 19.9% increase from the corresponding period last year. Profit after tax for the nine-month period grew by nearly 30%, signaling consistent performance beyond seasonal factors.
Category wise, apparel continued to be the largest contributor to revenue, accounting for approximately 44.8%, followed by general merchandise (28.3%) and fast-moving consumer goods (26.7%), reflecting the diversified nature of the company’s retail portfolio.
Consumer Engagement and Quick Commerce
Vishal Mega Mart’s initiatives to enhance consumer engagement also made progress. The company’s quick commerce services — aimed at fulfilling smaller orders rapidly — were active in 723 stores across 485 cities, with a registered user base of nearly 11.9 million, indicating growing adoption of faster delivery options.
Outlook Context
The Q3 FY26 performance highlights Vishal Mega Mart’s ability to convert market opportunities into tangible financial results, buoyed by a blend of seasonal demand, expanding retail density, and customized service offerings. As the company deepens its presence across India’s value retail landscape, its focus on operational efficiency and network growth will remain central to its long-term strategy.