VMART - V-Mart Retail Limited Share Price

Retailing

₹3238.30+42.30(+1.32%)

Market Open as of Apr 28, 2025, 12:34 IST

What does V-Mart Retail Limited do?

Diversified Retail•Consumer Services•Small Cap

V-Mart Retail Limited operates a chain of retail departmental stores in India. The company offers casual, formal, ethnic, sports and activewear, and inner wear for men; Western, ethnic, sports and activewear, inner, and night wear for women; and apparel for boys, girls, and infants, as well as inner wear and accessories. It also provides non-apparel products, such as fashion accessories, footwear, home needs, bags/luggage, and toys and games; and general merchandise products, including personal and home essentials, food, and staples. The company was incorporated in 2002 and is headquartered in Gurugram, India.

Industry Group:Retailing

Employees:9,827

Website:www.vmart.co.in

Summary of Latest Earnings Report from V-Mart Retail

Summary of V-Mart Retail's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.

Earnings Outlook

Last updated: Feb 25

Management Outlook & Major Points:
V-Mart's management remains optimistic about sustained demand in semi-urban/rural markets, driven by a shift from unorganized to organized retail. Post-festive and winter sales saw strong momentum, with youth (Gen Z) contributing 27% of sales (vs. 22% earlier), reflecting strategic targeting. Gross margins improved to 35.8% (+30 bps YoY), aided by fresh inventory and lower LimeRoad losses (down 54% YoY). EBITDA margins rose to 16.7% (+130 bps for core V-Mart). Challenges include wage inflation (e.g., 29% hike in Odisha) and competitive store expansions.

Key Initiatives:

Growth Strategy: Focus on sharper pricing, tech integration (AI/data analytics), and store experience (visual merchandising, reduced clutter).
Inventory & Margins: Inventory days reduced to 92; aim to cut further via faster turns. Margins may see pressure to enhance value proposition.
Expansion: 50+ net store additions planned for FY25, prioritizing Tier-III/IV markets. New Unlimited stores in South show promising SPSF (~Rs.676).
Omnichannel: LimeRoad app (3M+ downloads) to bridge offline-online gaps, targeting "endless aisle" offerings.

Management targets mid-to-high single-digit SSSG, leveraging internal cash flows for growth, with no long-term debt. Risks include wage inflation and erratic weather impacting seasonal sales.

Q&A Session

Last updated: Feb 25

What factors led the sales to go up?
Sales growth (17% offline) stemmed from improved product quality, design, and sourcing efficiency, alongside a successful festive and winter season. Strategic focus on Gen Z (youth share up 5% to 27%) and organized sector gains from unorganized markets contributed. Enhanced store experiences, inventory freshness, and lower LimeRoad losses also aided performance.

How do you anticipate ASP (Average Selling Price) movement for V-Mart?
ASP for V-Mart remained stable, while Unlimited saw a 5% dip due to merchandise mix changes. Management expects ASP to stay consistent, with potential seasonal variations but no significant inflationary pressures. Focus remains on value retention despite competitive pricing dynamics.

Will rising expenses (rentals, wages) impact margins or customer pricing?
While inflationary pressures in wages (e.g., 29% hike in Odisha) and rentals exist, V-Mart prioritizes customer retention over margin protection. Efficiency improvements, volume-led growth, and automation aim to offset costs without passing them to price-sensitive consumers.

How does V-Mart's growth compare to peers in a competitive market?
V-Mart's growth reflects regional nuances (e.g., East lagged due to festival timing) and complexity in fashion trends. Market share within organized retail may dip amid new entrants, but overall consumption growth and rural-urban demand stabilization remain tailwinds.

What is the store expansion strategy amid rising rental costs?
V-Mart emphasizes disciplined expansion, prioritizing ROI over store count. Rentals are capped at 6.5"“7% of sales. New stores opened in FY25 perform above company averages, with a focus on Tier III/IV markets. Full-year guidance remains 50+ net additions.

How is Unlimited performing vs. V-Mart?
Unlimited's sales/sq. ft. (Rs.676) trails V-Mart (Rs.927), but newer South-focused Unlimited stores match V-Mart's profitability. Older Unlimited stores (post-acquisition) remain marginally profitable; closures (12 stores last year) have minimized drag. Unlimited's strategy now emphasizes V-Mart-like value propositions.

Can inventory optimization (92 days) boost margins or growth?
Inventory days target ~87"“88 via better sell-throughs. Margin retention is prioritized, but sharper pricing may be tested to drive volumes. Winter demand volatility (e.g., delayed January 2025 season) necessitates cautious inventory planning.

What drives LimeRoad's reduced losses (54% YoY decline)?
LimeRoad's integration as V-Mart's omnichannel arm (3M+ app downloads) focuses on in-store order placements for missing sizes/colors. Loss reduction reflects lower marketing spends and operational streamlining, with future growth tied to catalog expansion beyond physical stores.

How are supply chain improvements impacting operations?
Stabilized warehouses and tech-led replenishment systems have enhanced turnaround times. Vendor workshops and stricter quality controls improved sourcing, though initial rejections caused shortages. Blacklisting 20% of non-compliant vendors strengthened supply reliability.

Are older Unlimited stores viable long-term?
Older Unlimited stores (strategic Tier-1 locations) are profitable but lag new ones. Their retention hinges on catchment importance, not immediate ROCE targets. Further closures are unlikely after prior rationalization (20+ closed). Profitability will improve as newer stores dominate the mix.

Pros

Technicals: Bullish SharesGuru indicator.

Size: Market Cap wise it is among the top 20% companies of india.

Growth: Good revenue growth. With 100.4% growth over past three years, the company is going strong.

Buy Backs: Company has bought back it's stock in the past which is a good thing.

Smart Money: Smart money is taking extra interest in the stock as they increase their holdings.

Insider Trading: There's significant insider buying recently.

Cons

No major cons observed.

The Good, Bad and Ugly

Growth

Profitability

Size

Dilution Rank

Balance Sheet

Momentum

Technicals

Smart Money

Insider Trading

Sector Comparison: VMART vs Retailing

Comprehensive comparison against sector averages

Comparative Metrics

VMART metrics compared to Retailing

Category	VMART	Retailing
PE	-542.63	-164.28
PS	2.00	3.87
Growth	15.4 %	10.4 %

Performance Comparison

VMART vs Retailing (2021 - 2025)

Key Insights

1. VMART is among the Top 3 Diversified Retail companies by market cap.
2. The company holds a market share of 4.3% in Diversified Retail.
3. In last one year, the company has had an above average growth that other Diversified Retail companies.

Share Holdings

Understand V-Mart Retail ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.

Holding Pattern

Major Shareholders

Share Holding Details

As of 2025-03-31

Shareholder Name	Holding %
CONQUEST BUSINESS SERVICES PVT LTD	37.83%
SBI MULTI ASSET ALLOCATION FUND	7.98%
AMANSA HOLDINGS PRIVATE LIMITED	7.89%
KOTAK SMALL CAP FUND	6.57%
LALIT AGARWAL	6.45%
BANDHAN FLEXI CAP FUND	4.66%
MOTILAL OSWAL NIFTY MICROCAP 250 INDEX FUND	1.87%
OXBOW MASTER FUND LIMITED	1.74%
INVESCO INDIA CONTRA FUND	1.56%
ICICI PRUDENTIAL ELSS TAX SAVER FUND	1.51%
CANARA ROBECO MUTUAL FUND A/C CANARA ROBECO SMALL	1.33%
TATA MUTUAL FUND - TATA ELSS TAX SAVER FUND	1.3%
MADAN GOPAL AGARWAL	0%
MADAN GOPAL AGARWAL HUF	0%
LALIT M AGARWAL HUF	0%

Overall Distribution

Distribution across major stakeholders

Ownership Distribution

Distribution across major institutional holders

Balance Sheet for V-Mart Retail

Standalone figures (in Rs. Crores)

Description	(%) Q/Q	Sep-2024	Mar-2024	Sep-2023	Mar-2023	Sep-2022	Mar-2022
Cash and cash equivalents	-57.7%	12	27	15	18	12	33
Current investments	4.6%	4.87	4.7	5.74	8.54	26	121
Loans, current	-5.2%	0.19	0.23	0.4	0.43	0.18	0.52
Total current financial assets	-27.8%	58	80	56	54	54	157
Inventories	11.8%	912	816	843	871	917	668
Total current assets	7.8%	1,116	1,035	1,053	1,058	1,075	898
Property, plant and equipment	3.9%	509	490	498	319	298	279
Capital work-in-progress	252.1%	11	3.84	9.46	109	31	6.38
Goodwill	0%	1.5	1.5	1.5	1.5	0	0
Non-current investments	-	0	0	0	0	0	3.78
Loans, non-current	-	0	0	0	0	0	0
Total non-current financial assets	28%	33	26	32	32	40	41
Total non-current assets	9.9%	1,990	1,811	1,812	1,685	1,423	1,201
Total assets	9.2%	3,106	2,845	2,865	2,743	2,499	2,099
Total non-current financial liabilities	13%	1,349	1,194	1,164	1,108	1,017	843
Provisions, non-current	-	0	0	0	0	0	0
Total non-current liabilities	13.2%	1,365	1,206	1,178	1,120	1,028	854
Borrowings, current	41.3%	155	110	172	148	118	0
Total current financial liabilities	16.7%	1,015	870	908	757	585	371
Provisions, current	-	0	0	0	0	0	0
Current tax liabilities	0%	0.69	0.69	1.63	2.88	14	12
Total current liabilities	15.9%	1,034	892	924	773	611	396
Total liabilities	14.4%	2,399	2,098	2,102	1,894	1,639	1,250
Equity share capital	0%	20	20	20	20	20	20
Total equity	-5.4%	707	747	763	849	860	850
Total equity and liabilities	9.2%	3,106	2,845	2,865	2,743	2,499	2,099

Income Statement for V-Mart Retail

Standalone figures (in Rs. Crores)

AnnualQuarterly

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020	Mar-2019
Revenue From Operations	13%	2,786	2,465	1,666	1,075	1,662	1,434
Other Income	42.9%	21	15	14	21	4.48	5.92
Total Income	13.2%	2,807	2,480	1,680	1,096	1,666	1,440
Purchases of stock-in-trade	-1.6%	1,771	1,800	1,331	674	1,275	992
Employee Expense	12.2%	287	256	180	117	154	126
Finance costs	21.6%	142	117	77	59	55	1.61
Depreciation and Amortization	23.5%	222	180	131	103	94	28
Other expenses	34.2%	460	343	191	104	168	205
Total Expenses	17.8%	2,937	2,493	1,670	1,106	1,597	1,330
Profit Before exceptional items and Tax	-838.6%	-130.5	-13.01	10	-9.66	70	110
Exceptional items before tax	-	0	0	0	0	0	-9.8
Total profit before tax	-838.6%	-130.5	-13.01	10	-9.66	70	100
Current tax	-165.2%	-4.54	9.5	11	5.69	24	41
Deferred tax	-92.8%	-29.2	-14.66	-12.73	-9.16	-4.18	-2.44
Total tax	-464%	-33.74	-5.16	-1.24	-3.46	20	38
Total profit (loss) for period	-1004.6%	-96.76	-7.85	12	-6.2	49	62
Other comp. income net of taxes	-2.9%	0.64	0.65	-1.87	-0.31	-0.01	-0.36
Total Comprehensive Income	-1084.4%	-96.12	-7.2	9.77	-6.51	49	61
Earnings Per Share, Basic	-904.6%	-48.93	-3.97	5.9	-3.37	27.18	34.01
Earnings Per Share, Diluted	-904.6%	-48.93	-3.97	5.88	-3.37	27.17	33.9

Description	(%) Q/Q	Dec-2024	Sep-2024	Jun-2024	Mar-2024	Dec-2023	Sep-2023
Revenue From Operations	55.5%	1,027	661	786	669	889	549
Other Income	209.1%	3.38	1.77	4.64	4.43	13	1.99
Total Income	55.4%	1,030	663	791	673	902	551
Purchases of stock-in-trade	-16.9%	565	680	365	533	471	477
Employee Expense	9.3%	95	87	84	67	77	71
Finance costs	7.9%	42	39	37	36	38	36
Depreciation and Amortization	6.9%	63	59	57	61	58	53
Other expenses	3.1%	100	97	94	105	119	118
Total Expenses	33.2%	960	721	781	725	865	638
Profit Before exceptional items and Tax	217%	70	-57.99	9.32	-51.99	37	-86.42
Total profit before tax	217%	70	-57.99	9.32	-51.99	37	-86.42
Current tax	449.3%	5.75	-0.36	0.36	-4.54	0	0
Deferred tax	-307.5%	-7.64	-1.12	-3.18	-8.53	8.65	-22.3
Total tax	-16.5%	-1.89	-1.48	-2.82	-13.07	8.65	-22.3
Total profit (loss) for period	223.5%	72	-56.51	12	-38.92	28	-64.12
Other comp. income net of taxes	63.1%	-0.1	-1.98	0.16	1.37	-0.06	-0.81
Total Comprehensive Income	219.3%	72	-58.49	12	-37.55	28	-64.93
Earnings Per Share, Basic	219%	36.18	-28.57	6.14	-19.68	14.28	-32.43
Earnings Per Share, Diluted	217.8%	35.82	-28.57	6.11	-19.68	14.2	-32.43

Cash Flow for V-Mart Retail

Standalone figures (in Rs. Crores)

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022
Finance costs	21.6%	142	117	77
Change in inventories	126.5%	55	-202.41	-239.92
Depreciation	23.5%	222	180	131
Impairment loss / reversal	796.9%	5.53	0.35	0
Adjustments for interest income	38%	3.25	2.63	6.26
Share-based payments	-315.5%	-6.63	4.54	7.04
Net Cashflows from Operations	95.5%	388	199	0.56
Income taxes paid (refund)	-90.6%	2.59	18	12
Net Cashflows From Operating Activities	113.9%	386	181	-11.25
Proceeds from sales of PPE	-19%	0.31	0.42	1.8
Purchase of property, plant and equipment	-56%	123	278	151
Proceeds from sales of investment property	-70.5%	118	398	859
Purchase of investment property	-59.4%	114	279	592
Interest received	36.7%	0.69	0.51	5.39
Net Cashflows From Investing Activities	25.6%	-117.75	-158.58	124
Proceeds from issuing shares	-110.3%	0.74	3.52	7.58
Proceeds from borrowings	-126.4%	-37.83	148	0
Payments of lease liabilities	-101.4%	0	71	35
Dividends paid	-308.3%	0	1.48	0
Interest paid	23.5%	143	116	77
Net Cashflows from Financing Activities	-577.7%	-258.98	-37.36	-104.47
Net change in cash and cash eq.	150.5%	9.17	-15.19	7.95

Investor Care
Dividend Yield	0.02%
Dividend/Share (TTM)	0.75
Shares Dilution (1Y)	0.10%
Diluted EPS (TTM)	-6.32

Financial Health
Current Ratio	1.08
Debt/Equity	0.22
Debt/Cashflow	2.48

Is V-Mart Retail Better than it's peers?

Detailed comparison of V-Mart Retail against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.

Ticker	Name	Mkt Cap	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
DMART	Avenue SupermartsDiversified Retail	2.85 LCr	57.35 kCr	+10.89%	-6.05%	104.68	4.96	+17.52%	+11.81%
TRENT	Trent [Lakme Ltd]Speciality Retail	1.83 LCr	16.45 kCr	-3.32%	+19.01%	94.53	11.12	+42.29%	+138.76%
ABFRL	Aditya Birla Fashion and RetailSpeciality Retail	30.15 kCr	15.03 kCr	+2.66%	-0.19%	-40.83	2.01	+10.04%	-11.18%
V2RETAIL	V2 RetailSpeciality Retail	6.36 kCr	1.69 kCr	+7.83%	+249.87%	91.9	3.77	+57.65%	+321.76%
SHOPERSTOP	Shoppers StopDiversified Retail	6 kCr	4.68 kCr	+6.22%	-23.24%	186.9	1.28	+10.43%	-53.02%

Valuation
Market Cap	6.33 kCr
Price/Earnings (Trailing)	-542.63
Price/Sales (Trailing)	2
EV/EBITDA	17.41
Price/Free Cashflow	26.61
MarketCap/EBT	-204.63

Fundamentals
Revenue (TTM)	3.16 kCr
Rev. Growth (Yr)	14.19%
Rev. Growth (Qtr)	55.43%
Earnings (TTM)	-11.66 Cr
Earnings Growth (Yr)	153.74%
Earnings Growth (Qtr)	226.76%

Profitability
Operating Margin	-0.98%
EBT Margin	-0.98%
Return on Equity	-1.65%
Return on Assets	-0.38%
Free Cashflow Yield	3.76%

VMART - V-Mart Retail Limited Share Price

What does V-Mart Retail Limited do?

Summary of Latest Earnings Report from V-Mart Retail

Sector Comparison: VMART vs Retailing

Comparative Metrics

Performance Comparison

Revenue Breakdown

Share Holdings

Holding Pattern

Share Holding Details

Overall Distribution

Ownership Distribution

Balance Sheet for V-Mart Retail

Income Statement for V-Mart Retail

Cash Flow for V-Mart Retail

Investor Care

Financial Health

Is V-Mart Retail Better than it's peers?

Valuation

Fundamentals

Profitability

Price to Sales Ratio

Revenue (Last 12 mths)

Net Income (Last 12 mths)