V-Mart Retail Limited — Investor Meet, 30-01-2026: Analysts/Institutional Investor Meet/Con. Call Updates

V-Mart Retail's Q3 FY26 results show a 23% PAT growth to ₹88 Cr (YTD PAT ₹113 Cr). Post-IndAS EBITDA rose 22% to ₹210 Cr, with margins expanding 190 bps to 18.6%, driven by robust cost controls and operating leverage. Gross margins remained stable, with offline expanding 70 bps due to better inventory and less discounting.

Management noted a "cautiously positive" consumer sentiment, consistent footfall, and strong performance from 23 new stores, bringing total to 554. Strategic focus on efficiency, technology adoption, and profitability for the Unlimited business and LimeRoad is yielding results. Despite Q3 revenue growth being impacted by festive calendar shifts, the long-term outlook remains confident, with plans for 13-14% annual square footage growth and 5-8% SSSG. Efficiency, not just cost cuts, will drive future margin expansion.