Here's a concise summary for retail investors:
**1. Business Performance:** V-Mart reported robust Q2FY26 with revenue up 22% YoY to ₹806.9 Cr. EBITDA soared 85% to ₹71.5 Cr (8.9% margin), despite a Q2 net loss of ₹8.9 Cr. Half-year (H1FY26) revenue rose 17% to ₹1,692.1 Cr, with profit jumping 156% to ₹24.7 Cr and EBITDA up 44% to ₹197.7 Cr. Same-store sales grew 11% in Q2 and 5% in H1. Apparel remains the primary revenue driver.
**2. Growth Drivers or Strategy:** The company is focused on aggressive store expansion, opening 25 new stores in Q2 and 40 in H1, bringing the total to 533 stores. This expansion is concentrated across multiple tiers, with retail space growing 14% YoY.
**3. Recent Developments:** V-Mart significantly improved operational efficiency, reducing inventory days by 2% YoY to 97 days. LimeRoad's losses were sharply cut by 53% in Q2 and 55% in H1. A notable recent event was the bonus share issue (3 shares for every 1 held).
**4. Management Commentary / Outlook:** The strong revenue and profit growth, coupled with improved inventory management and a focused expansion strategy, indicate continued operational discipline and commitment to growth in the retail segment.