V-Mart Retail Ltd — earnings calls

V-Mart Retail reported 23% year-on-year revenue growth with 9% same-store-sales growth for Q1 FY27, marking its 11th consecutive quarter of positive like-for-like growth. Pre-IndAS EBITDA grew 36% to Rs 83 crore with margin expanding to 7.6%, while gross margin declined 80 bps to 34.5% due to mix change and inventory provisioning. Management also discussed raw material inflation, minimum wage hikes in certain states, and continued expansion in the Unlimited format in South India.

V-Mart reported total sales growth of 24% in Q4 FY26 with like-to-like growth of 12%, opening 29 new stores during the quarter, and EBITDA grew 56% year-on-year to Rs 106 crores with margins expanding to 10.9%. Management flagged rising input costs from crude-linked yarn and polyester prices, saying inflation of 10-15% in yarn prices could translate to roughly 5-7% in apparel prices, with plans to absorb part of the cost rather than fully pass it to consumers. Full year PAT grew to Rs 124 crores, and management discussed store expansion plans, capex guidance, and rent and margin targets for the coming year.