{"id":179542,"date":"2026-02-04T07:28:50","date_gmt":"2026-02-04T12:28:50","guid":{"rendered":"https:\/\/alphastreet.com\/india\/?p=179542"},"modified":"2026-02-04T07:28:52","modified_gmt":"2026-02-04T12:28:52","slug":"v2-retail-q3-fy26-earnings-results","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/v2-retail-q3-fy26-earnings-results\/","title":{"rendered":"V2 Retail Q3 FY26 Earnings Results"},"content":{"rendered":"\n<p>Company primarily operates in Tier-II and Tier-III cities, with a chain of \u201cV2 Retail\u201d stores offering apparel and general merchandise, catering to the entire family.<\/p>\n\n\n\n<div style=\"height:33px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Q3 FY26 Earnings Results<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Revenue from Operations:<\/strong> \u20b9929 cr, <strong>+57% YoY<\/strong> vs \u20b9592 cr in Q3 FY25, strong growth driven by aggressive store expansion and higher retail throughput. <\/li>\n\n\n\n<li><strong>EBITDA:<\/strong> \u20b9174 cr, <strong>+56% YoY<\/strong>, <strong>EBITDA Margin 18.7%<\/strong> (improved operating efficiency). <\/li>\n\n\n\n<li><strong>PAT:<\/strong> \u20b9102.06 cr, <strong>+99% YoY<\/strong> vs \u20b951.19 cr in Q3 FY25; <strong>EPS:<\/strong> \u20b929.17 (continuing strong profitability trend). <\/li>\n\n\n\n<li><strong>Other key metrics:<\/strong><br>\u2022 <strong>Same-Store Sales Growth (SSSG):<\/strong> 2% YoY reported; <strong>Normalized SSSG:<\/strong> 12.8% adjusted for festival shift effects.<br>\u2022 <strong>Store Count Expansion:<\/strong> Added 35 new stores in Q3, total network 294 stores (31.93 lakh sq ft footprint). <br>\u2022 <strong>9M FY26 YTD:<\/strong> Revenue \u20b92,270 cr, <strong>+64% YoY<\/strong>; EBITDA \u20b9347 cr <strong>+73% YoY<\/strong>; 9M PAT \u20b9144 cr <strong>+119% YoY<\/strong>, reflecting strong cumulative growth. <\/li>\n<\/ul>\n\n\n\n<div style=\"height:34px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Management Commentary &amp; Strategic Decisions<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Management highlighted <strong><a href=\"https:\/\/www.bseindia.com\/xml-data\/corpfiling\/AttachLive\/150103b8-0a28-4be3-957e-92792c6717cc.pdf\" target=\"_blank\" rel=\"noopener\">robust revenue and profitability expansion<\/a><\/strong> through Q3, attributing growth to <strong>aggressive store additions, strong consumer demand across Tier 2\/3 markets<\/strong>, and enhanced productivity per store. <\/li>\n\n\n\n<li><strong>Retail footprint strategy:<\/strong> Continued network expansion remains a key driver, with ~294 stores nationwide and plans to deepen presence in underserved consumption corridors, reinforcing V2 Retail\u2019s <strong>value-fashion leadership<\/strong>.<\/li>\n\n\n\n<li>Management commentary emphasized the importance of <strong>normalized same-store sales growth (12.8%)<\/strong> after adjusting for festival timing shifts, signaling healthy underlying demand beyond calendar effects. <\/li>\n\n\n\n<li><strong>Operational focus:<\/strong> Improvement in gross and EBITDA margins (32.4% gross, 18.7% EBITDA in Q3) reflects efficient inventory management, higher full-price sales mix (92%), and disciplined cost control. <\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"839\" height=\"1024\" src=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-43-839x1024.png\" alt=\"\" class=\"wp-image-179543\" srcset=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-43-839x1024.png 839w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-43-246x300.png 246w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-43-768x937.png 768w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-43-1259x1536.png 1259w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-43.png 1489w\" sizes=\"auto, (max-width: 839px) 100vw, 839px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Q2 FY26 Earnings Results <\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Revenue from Operations:<\/strong> \u20b9708.6 cr, <strong>+86% YoY<\/strong> vs \u20b9380 cr in Q2 FY25, significant top-line expansion. <\/li>\n\n\n\n<li><strong>EBITDA:<\/strong> \u20b985.4 cr, <strong>+158% YoY<\/strong>, <strong>EBITDA Margin 12.1<\/strong>%, improved operational leverage. <\/li>\n\n\n\n<li><strong>PAT:<\/strong> \u20b918.08 cr, <strong>vs loss in Q2 FY25<\/strong>, marking a strong turnaround; <strong>EPS<\/strong> uplift reflecting profitability recovery. <\/li>\n\n\n\n<li><strong>Other key metrics:<\/strong> Same-Store Sales Growth (SSSG) 23.4% (reported) \/ 10.3% normalized (festival shift), <strong>store count:<\/strong> 259 stores by quarter end.<\/li>\n<\/ul>\n\n\n\n<div style=\"height:35px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Management Commentary Q2<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Leadership noted <strong>a significant turnaround from prior-year losses<\/strong>, underscoring robust consumer demand and execution of expansion strategy across retail formats. <\/li>\n\n\n\n<li>Management emphasised <strong>store productivity, higher volumes and improved consumer engagement<\/strong> (evidenced by strong SSSG and average sales per sq ft), highlighting the value-driven model\u2019s resonance.<\/li>\n\n\n\n<li><strong>Operational pivot:<\/strong> Enhanced gross margins and a shift toward higher full-price sales (92% contribution) supported profitability despite aggressive scaling.<\/li>\n<\/ul>\n\n\n\n<p>To view the company\u2019s previous earnings and latest concall transcripts,&nbsp;<a href=\"https:\/\/alphastreet.com\/india\/\">click here<\/a>&nbsp; to visit the Alphastreet India news channel.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Company primarily operates in Tier-II and Tier-III cities, with a chain of \u201cV2 Retail\u201d stores offering apparel and general merchandise, catering to the entire family. Q3 FY26 Earnings Results Management Commentary &amp; Strategic Decisions Q2 FY26 Earnings Results Management Commentary Q2 To view the company\u2019s previous earnings and latest concall transcripts,&nbsp;click here&nbsp; to visit the [&hellip;]<\/p>\n","protected":false},"author":1863,"featured_media":179543,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5],"tags":[],"class_list":["post-179542","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-43.png","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":179792,"url":"https:\/\/alphastreet.com\/india\/krsnaa-diagnostics-q3-fy26-earnings-results\/","url_meta":{"origin":179542,"position":0},"title":"Krsnaa Diagnostics Q3 FY26 Earnings Results","author":"Chirag Gupta","date":"February 6, 2026","format":false,"excerpt":"Krsnaa Diagnostics Ltd provides a range of technology-enabled diagnostic services such as imaging, clinical laboratory, and teleradiology services to hospitals, medical colleges, and community health centers across India with an extensive network across non-metro and lower-tier cities and towns. 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