V2 Retail Ltd
₹ 1,989
-2.90%
06 Feb
- close price
About
Company primarily operates in Tier-II and
Tier-III cities, with a chain of “V2 Retail” stores offering apparel and general merchandise,
catering to the entire family.[1]
Key Points
- Market Cap ₹ 7,262 Cr.
- Current Price ₹ 1,989
- High / Low ₹ 2,572 / 1,390
- Stock P/E 53.4
- Book Value ₹ 107
- Dividend Yield 0.00 %
- ROCE 16.8 %
- ROE 22.9 %
- Face Value ₹ 10.0
Pros
- Company is expected to give good quarter
- Company has delivered good profit growth of 105% CAGR over last 5 years
- Company's median sales growth is 18.5% of last 10 years
- Company's working capital requirements have reduced from 37.1 days to 18.8 days
Cons
- Stock is trading at 18.6 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -2.79%
- Company has a low return on equity of 10.1% over last 3 years.
- Company might be capitalizing the interest cost
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
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Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 229 | 287 | 334 | 472 | 559 | 748 | 701 | 538 | 629 | 839 | 1,165 | 1,884 | 2,760 | |
| 224 | 258 | 302 | 429 | 506 | 699 | 623 | 487 | 566 | 759 | 1,021 | 1,630 | 2,350 | |
| Operating Profit | 5 | 28 | 32 | 43 | 54 | 49 | 79 | 50 | 63 | 80 | 144 | 254 | 410 |
| OPM % | 2% | 10% | 10% | 9% | 10% | 7% | 11% | 9% | 10% | 10% | 12% | 13% | 15% |
| 2 | 3 | 6 | 25 | 3 | -17 | 15 | 22 | 16 | 6 | 7 | 5 | 28 | |
| Interest | 9 | 10 | 14 | 10 | 3 | 3 | 32 | 32 | 38 | 41 | 47 | 68 | 93 |
| Depreciation | 3 | 2 | 4 | 6 | 8 | 14 | 50 | 54 | 57 | 64 | 73 | 95 | 142 |
| Profit before tax | -5 | 18 | 20 | 52 | 46 | 15 | 10 | -13 | -16 | -19 | 31 | 97 | 204 |
| Tax % | -17% | 47% | 40% | 24% | 32% | -36% | 3% | -16% | -21% | -23% | 11% | 27% | |
| -5 | 10 | 12 | 39 | 31 | 20 | 10 | -11 | -13 | -14 | 27 | 71 | 152 | |
| EPS in Rs | -2.01 | 4.14 | 4.89 | 12.62 | 9.16 | 6.01 | 2.98 | -3.24 | -3.75 | -4.21 | 7.89 | 20.50 | 42.42 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 21% |
| 5 Years: | 22% |
| 3 Years: | 44% |
| TTM: | 64% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 22% |
| 5 Years: | 105% |
| 3 Years: | 94% |
| TTM: | 100% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 43% |
| 5 Years: | 69% |
| 3 Years: | 186% |
| 1 Year: | 0% |
| Return on Equity | |
|---|---|
| 10 Years: | 6% |
| 5 Years: | 4% |
| 3 Years: | 10% |
| Last Year: | 23% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 22 | 24 | 25 | 31 | 34 | 34 | 34 | 34 | 34 | 34 | 35 | 35 | 35 |
| Reserves | 241 | 251 | 271 | 127 | 240 | 261 | 246 | 238 | 226 | 213 | 240 | 310 | 355 |
| 83 | 69 | 98 | 9 | 0 | 11 | 311 | 388 | 384 | 410 | 502 | 839 | 1,309 | |
| 39 | 61 | 55 | 73 | 115 | 158 | 116 | 133 | 128 | 108 | 189 | 393 | 686 | |
| Total Liabilities | 385 | 405 | 449 | 240 | 389 | 464 | 707 | 793 | 772 | 765 | 966 | 1,577 | 2,385 |
| 14 | 18 | 29 | 51 | 63 | 100 | 330 | 382 | 375 | 389 | 449 | 842 | 1,312 | |
| CWIP | 0 | 1 | 4 | 4 | 7 | 4 | 4 | 5 | 0 | 0 | 0 | 4 | 4 |
| Investments | 31 | 30 | 25 | 0 | 90 | 0 | 15 | 15 | 15 | 15 | 15 | 15 | 15 |
| 340 | 355 | 391 | 185 | 231 | 360 | 359 | 391 | 382 | 361 | 502 | 716 | 1,053 | |
| Total Assets | 385 | 405 | 449 | 240 | 389 | 464 | 707 | 793 | 772 | 765 | 966 | 1,577 | 2,385 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 12 | 36 | -15 | -1 | 27 | -48 | 94 | -15 | 61 | 80 | 85 | 213 | |
| -7 | -6 | -9 | -12 | -110 | 41 | -5 | -16 | -12 | -9 | -29 | -128 | |
| -4 | -30 | 26 | 16 | 81 | 11 | -37 | -14 | -59 | -75 | -52 | -83 | |
| Net Cash Flow | 0 | -1 | 2 | 3 | -1 | 4 | 52 | -45 | -9 | -4 | 4 | 1 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 0 | 0 | 0 | 0 | 0 | 0 | 7 | 0 | 1 | 0 | 0 | 0 |
| Inventory Days | 118 | 141 | 177 | 126 | 154 | 195 | 142 | 255 | 221 | 151 | 155 | 140 |
| Days Payable | 60 | 60 | 61 | 71 | 97 | 100 | 75 | 113 | 93 | 57 | 69 | 85 |
| Cash Conversion Cycle | 58 | 81 | 116 | 54 | 58 | 95 | 73 | 143 | 130 | 94 | 87 | 56 |
| Working Capital Days | -31 | -27 | -28 | 42 | 56 | 77 | 39 | 75 | 67 | 50 | 43 | 19 |
| ROCE % | 1% | 8% | 8% | 14% | 21% | 13% | 7% | 3% | 3% | 3% | 11% | 17% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
6h - Analyst/institutional meetings on Feb 11, 2026 at Nuvama India Conference; Q3 & 9M FY26 presentation available.
-
Announcement under Regulation 30 (LODR)-Monitoring Agency Report
9h - MA report: QIP utilization for quarter ended 31 Dec 2025; INR 39,999.99 lakh raised; no deviation.
- Announcement under Regulation 30 (LODR)-Newspaper Publication 1d
-
Shareholder Meeting / Postal Ballot-Notice of Postal Ballot
1d - Postal ballot to approve 10:1 equity share split and capital clause change; e-voting Feb 6–Mar 8, 2026.
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
2d - Audio recording of Q3 FY26 earnings call available on company website, dated 4 Feb 2026.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
from bse
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Financial Year 2013
from nse
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Financial Year 2013
from bse
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Financial Year 2012
from bse
Concalls
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Feb 2026TranscriptAI SummaryPPT
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Nov 2025Transcript PPT REC
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Aug 2025Transcript PPT REC
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May 2025Transcript PPT REC
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Jan 2025Transcript PPT
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Jan 2025TranscriptAI SummaryPPT
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Oct 2024TranscriptPPTREC
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Oct 2024TranscriptAI SummaryPPT REC
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Aug 2024TranscriptPPTREC
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Jul 2024Transcript PPT REC
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May 2024TranscriptAI SummaryPPT
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Feb 2024TranscriptAI SummaryPPT
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Nov 2023TranscriptAI SummaryPPT
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Aug 2023TranscriptAI SummaryPPT
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May 2023TranscriptAI SummaryPPT
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Feb 2023TranscriptAI SummaryPPT
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Nov 2022TranscriptAI SummaryPPT
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Aug 2022TranscriptAI SummaryPPT
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Nov 2021Transcript PPT
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Aug 2021Transcript PPT
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Jun 2021TranscriptAI SummaryPPT
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Jun 2021Transcript PPT
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Feb 2021Transcript PPT
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Nov 2020Transcript PPT
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Aug 2020TranscriptAI SummaryPPT
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Oct 2019TranscriptAI SummaryPPT
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Jul 2019TranscriptAI SummaryPPT
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May 2019TranscriptAI SummaryPPT
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Nov 2018TranscriptAI SummaryPPT
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Aug 2018TranscriptAI SummaryPPT
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Jun 2018TranscriptAI SummaryPPT
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May 2018TranscriptAI SummaryPPT
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Feb 2018TranscriptAI SummaryPPT
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Oct 2017TranscriptAI SummaryPPT
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Jun 2017TranscriptAI SummaryPPT
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May 2017TranscriptAI SummaryPPT
History[1]
Incorporated in 2001, co. provides merchandise to masses at affordable prices. The Company went public in 2007. The brand “Vishal” was sold in 2011 due to operational losses. The Company was renamed V2 Retail Limited. It caters to the ‘neo middle class’ and ‘middle class’.