V-Mart Retail Q2 revenue rises 22% on-year, adds 25 new stores

V-Mart Retail Ltd reported a strong performance in the September quarter of FY26, with total revenue from operations rising 22% year-on-year to ₹807 crore compared with ₹661 crore a year earlier.

The company also recorded a same-store sales growth (SSSG) of 11% during the quarter, with both V-Mart and Unlimited formats contributing equally.

The retailer continued its expansion drive, opening 25 new stores and closing two underperforming outlets, bringing the total store count to 533 as of 30 September 2025. The new stores include five in Karnataka, four each in Uttar Pradesh and Bihar, two each in West Bengal and Jharkhand, and one each in Jammu & Kashmir and Maharashtra.

Ahead of the announcement, shares of V-Mart Retail closed 2.19% higher at ₹725.35 on the NSE.

The Q2 performance builds on the company’s momentum in the first quarter of FY26, when V-Mart reported a 12.6% year-on-year rise in revenue to ₹885 crore, supported by modest 1% SSSG. Expansion remained a key lever then too, with 15 new stores launched and two closures.

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V-Mart, which operates small-format hypermarkets targeting value-conscious consumers, continues to position itself as an affordable retailer. The company derives over 70% of sales from private labels, with an average selling price of ₹340 and nearly 85% of products priced below ₹1,000.

Founder and managing director Lalit Agarwal had earlier told CNBC-TV18 that GST rate rationalisation would support consumption, especially among middle and lower-income households.

“If the entire 12% to 5% GST cut is passed on to the consumer, it will boost consumption,” he said, while cautioning that the benefit could be limited unless input costs such as yarn, dyes, processing and services — which attract 18% GST — are also reduced.

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