V2 Retail Limited
NSE: V2RETAIL · Speciality Retail · sector
₹161.36NSE close 2026-10-26
Key numbers
Market cap₹5,884 cr
Price₹161.36
52w high / low₹259 / ₹149
P/E31.9xSector median 31.1x
P/B6.5xSector median 4.8x
Book value₹24.8
Dividend yield–Sector median 1.48%
ROE28.6%Sector median 12.5%
ROCE28.7%Sector median 20.8%
OPM15.6%Sector median 11.0%
Debt / equity0.28xSector median 0.16x
EV/EBITDA11.4xSector median 11.2x
Interest cover3.4x
Current ratio1.44x
Sales growth 3y+54.0%Sector median +8.0%
Profit growth 3y–Sector median -3.9%
PEG0.26x
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 24 companies in Speciality Retail (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹7 cr vs borrowings ₹254 cr (FY26): borrowings are higher by ₹247 cr.
- Borrowings rose in each of the last 3 years (₹54 cr → ₹254 cr).
- Operating profit covered interest 3.4x in the last 12 months.
- 1.79% of the promoters' shares are pledged (0.9% of all shares).
- Promoter holding fell by 2.79 percentage points in a year, to 51.43% (2026-09-30).
- Operating cash flow was below net profit in 1 of the last 5 years (FY26).
- Net loss in 1 of the last 8 quarters.
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 6% of net profit in the last 12 months.
- No dividend in the last 5 financial years.
- Price ₹161.36 on 2026-10-26: -37.8% from the 52-week high, +8.1% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹240.32 · low ₹154.50
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 380 | 591 | 499 | 632 | 709 | 929 | 797 | 997 |
| EBITDA | 33 | 111 | 58 | 87 | 85 | 201 | 109 | 139 |
| OPM % | 8.7% | 18.9% | 11.6% | 13.8% | 12.1% | 21.7% | 13.7% | 14.0% |
| Other income | 3 | 1 | 2 | 1 | 1 | 4 | 4 | 1 |
| Net profit | -2 | 51 | 6 | 25 | 17 | 102 | 18 | 42 |
| EPS (₹) | -0.06 | 1.48 | 0.19 | 0.71 | 0.50 | 2.92 | 0.50 | 1.15 |
| Revenue YoY | +86.5% | +57.2% | +59.9% | +57.7% | ||||
| Profit YoY | – | +99.4% | +171.9% | +69.7% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 629 | 839 | 1,165 | 1,884 | 3,067 | 3,432 |
| EBITDA | 65 | 84 | 148 | 258 | 483 | 535 |
| Net profit | -12 | -13 | 28 | 72 | 162 | 179 |
| EPS (₹) | -0.34 | -0.37 | 0.80 | 2.08 | 4.58 | 5.06 |
| Revenue growth | +33.3% | +38.8% | +61.8% | +62.8% | +63.3% | |
| Profit growth | – | – | +159.0% | +125.0% | +122.3% | |
| Dividend / share (₹) | – | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +54.1% | +41.6% | +63.3% |
| Net profit | – | – | +122.3% |
| EPS | – | – | – |
| Share price | – | +14.1% (2y) | -24.3% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 247 | 275 | 346 | 902 |
| Borrowings | – | 54 | 91 | 116 | 254 |
| Cash & equivalents | – | 5 | 10 | 9 | 7 |
| Total assets | – | 794 | 1,027 | 1,628 | 2,422 |
| Fixed assets | – | 99 | 116 | 210 | 310 |
| Capital work in progress | – | 0 | 0 | 4 | 36 |
| Investments | – | 0 | 0 | 0 | 0 |
| Receivables | – | 0 | 0 | 0 | 2 |
| Inventory | – | 279 | 419 | 558 | 1,142 |
| Payables | – | 107 | 194 | 369 | 463 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 59 | 86 | 93 | 223 | -103 |
| Cash from investing | -16 | -12 | -39 | -131 | -219 |
| Cash from financing | -58 | -76 | -50 | -93 | 319 |
| Capex | 17 | 13 | 39 | 134 | 231 |
| Free cash flow | 42 | 73 | 54 | 89 | -334 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | -5.2% | 10.1% | 20.8% | 18.0% |
| ROCE % | – | 7.9% | 21.5% | 36.0% | 26.9% |
| Debtor days | – | 0 | 0 | 0 | 0 |
| Inventory days | – | 184 | 199 | 159 | 195 |
| Payable days | – | 71 | 92 | 105 | 79 |
| Cash conversion cycle (days) | – | 113 | 107 | 54 | 116 |
| Working capital days | – | 53 | 46 | 25 | 48 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 51.43% |
| FIIs | 3.69% |
| DIIs | 12.24% |
| of which Mutual funds | 10.61% |
| Public (non-institutions) | 32.64% |
| Quarter | Jun 2025 | Sep 2025 | Nov 2025 | Dec 2025 | Mar 2026 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 54.22% | 54.22% | 51.43% | 51.43% | 51.43% | 51.43% | 51.43% | 51.43% |
| Promoter group | % |
|---|---|
| Ricon Commodities Private Limited | 35.28% |
| Ram Chandra Agarwal | 5.17% |
| Akash Agarwal | 4.49% |
| Vishal Waterworld Pvt Ltd | 3.93% |
| V2 Conglomerate Limited | 1.73% |
| Ramchandra Agarwal HUF | 0.43% |
| Uma Agarwal | 0.39% |
| Shreya AgarwaL | 0.01% |
| Public holders above 1% | % |
|---|---|
| Motilal Oswal Large And Midcap Fund | 6.79% |
| Bandhan Small Cap Fund | 2.96% |
| Malabar India Fund Limited | 1.45% |
65,411 shareholders. Pledged: 1.79% of promoter shares.
Peers in Speciality Retail
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| TRENT | ₹1,46,843 cr | 81.2x | 21.0x | 29.1% | 34.1% | 18.8% | +34.5% | 0.12% |
| LENSKART | ₹1,13,227 cr | 170.0x | 12.9x | 7.5% | 12.0% | 20.8% | – | – |
| MANYAVAR | ₹11,699 cr | 30.3x | 6.0x | 20.6% | 28.7% | 43.9% | +2.7% | 1.66% |
| ABLBL | ₹8,505 cr | 48.1x | 6.0x | 12.5% | 26.4% | 15.6% | – | – |
| AVL | ₹7,230 cr | 52.0x | 10.5x | 21.9% | 22.4% | 8.9% | – | 0.18% |
| V2RETAIL | ₹5,884 cr | 31.9x | 6.5x | 28.6% | 28.7% | 15.6% | +54.0% | – |
| ABFRL | ₹4,831 cr | – | 0.8x | -12.3% | -5.8% | 7.6% | -13.0% | – |
| ARVINDFASN | ₹4,797 cr | 40.1x | 5.1x | 12.6% | 29.9% | 13.0% | +6.0% | 1.49% |
| SSRETAIL | ₹4,336 cr | – | – | – | – | – | – | – |
| PERNIASPOP | ₹3,421 cr | – | – | – | – | – | – | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-03-25 | Split | Face Value Split (Sub-Division) - From Rs 10/- Per Share To Re 1/- Per Share |
| 2024-09-20 | Other | Annual General Meeting |
| 2023-09-22 | Other | Annual General Meeting |
| 2022-09-22 | Other | Annual General Meeting |
| 2021-09-20 | Other | Annual General Meeting |
| 2020-09-18 | Other | Annual General Meeting |
| 2019-08-29 | Other | Annual General Meeting |
| 2018-09-19 | Other | Annual General Meeting |
| 2017-09-21 | Other | Annual General Meeting |
| 2016-09-20 | Other | Annual General Meeting |
| 2015-09-18 | Other | Annual General Meeting |
| 2014-09-19 | Other | Annual General Meeting |
| 2013-09-19 | Other | Annual General Meeting |
| 2012-09-20 | Other | Annual General Meeting |
| 2011-09-22 | Other | Annual General Meeting |
| 2010-10-21 | Other | Annual General Meeting |
| 2009-09-17 | Other | Annual General Meeting |
| 2008-09-01 | Other | Annual General Meeting |
| 2007-09-13 | Other | Agm |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Traded goods: Retail Sales
| Sector | Consumer Discretionary |
| Industry | Speciality Retail |
| Sub-industry | Speciality Retail |
| Symbol | V2RETAIL |
| BSE code | 532867 |
| ISIN | INE945H01021 |
| Face value | ₹1.0 |
| Incorporated | 2001-07-23 |
| Website | www.v2retail.com |
| Plants (India / abroad) | 0 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.