V2RETAILConsumer Services

V2 Retail Limited

Speciality Retail · ISIN INE945H01021 · BSE 532867 · NSE EQ · FV ₹1
Last price
₹149
-9.41%today
What this company does

V2 Retail Limited operates in Speciality Retail, part of the Consumer Services sector. It booked ₹906 cr of revenue in its latest quarter (Q2 FY27) and kept 2.0% of sales as profit. It is the 6th largest of 9 Speciality Retail companies we track, by market value.

“04 Who We Are Fashion has moved past metros, malls and premium price tags. It now shows up in college 06 FY 2025-26 At a Glance mornings, office corridors, festive evenings and family outings.”
In the report:
49out of 100
Equitytale Health Score
Mixed

Healthier than 49% of companies in Consumer Services, on all six measures of filed financials. Each measure is ranked against the 8–46 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
44

At close. Not part of the score.

Profitability & returns44

How much profit it earns on the money it employs

Balance sheet27

How much it owes, and whether earnings cover the interest

Cash quality36

Whether reported profit actually arrives as cash

Growth & consistency83

Whether sales and profit have grown, and how steadily

Valuation42

What today's price implies, against our models or its peers

Governance & risk89

How much of the promoters' stake is pledged, and how much they hold

Is this company doing well?
not investment advice
A mixed picture
Strengths
✓ Makes a profit
✓ Sales up 28% vs last year
✓ Profit up 6% vs last year
✓ Promoters hold 51%
✓ Turns profit into real cash
Watch-outs
! Thin 2.0% net margin
! 1.8% of promoter stake pledged
! Low 7.6% return on equity

What if I invest in V2RETAIL?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹149▼ -9.41%
latest close · 2026-11-04
52-wk low ₹14574 sessions so far52-wk high ₹228
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/B ratio5.65High
Below bookModerateHigh
EV / EBITDA12.1Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity7.6%Weak
WeakFairStrong ▸15%
Return on capital13.2%Fair
WeakFairStrong
Net margin2.0%Thin
ThinDecentStrong
EBITDA margin13.6%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.55Moderate
LowModerateHigh ▸1
Interest cover1.8×Risky
RiskyOkayStrong ▸5×
Current ratio1.23Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹5,438 cr
Book value
₹26
EPS
₹0.00
latest quarter
Net debt
₹521 cr
owes more than its cash
Enterprise value
₹5,958 cr
EBITDA
₹491 cr
annualised
EBIT
₹218 cr
annualised
Operating margin
6.0%
Return on assets
2.4%
Earnings yield
—
P/S
1.50
Sales / share
₹99.3
Tax rate
26.5%
Face value
₹1
Shares
36.5 cr
Working capital
₹310 cr
Current assets
₹1,682 cr
Current liabilities
₹1,372 cr
Delivery %
40.5%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the FY 2026 report & filings
not investment advice
Hard to value confidentlyLow confidence
One year's profit is a one-off (far above the multi-year norm), so its recurring earnings power is unclear.
Models span ₹8–₹12, midpoint ₹10

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q2 FY27 (consolidated)
Revenue from Operations₹906 cr
Other Income₹2 cr
Total Income₹908 cr
Cost of Materials₹0 cr
Purchases of Stock-in-Trade₹772 cr
Inventory Change (±)₹-148 cr
Employee Benefit Expense₹89 cr
Finance Costs₹30 cr
Depreciation & Amortisation₹68 cr
Other Expenses₹72 cr
Total Expenses₹883 cr
Profit before Tax₹25 cr
Tax Expense₹7 cr
Net Profit₹18 cr
Net margin on total income2.0%
Where the money goes · Q2 FY27
% of total income
Materials + stock-in-trade₹624 cr68.7%
Employee benefit expense₹89 cr9.8%
Finance costs₹30 cr3.3%
Depreciation & amortisation₹68 cr7.5%
Other expenses₹72 cr7.9%
Tax expense₹7 cr0.7%
Profit for the period₹18 cr2.0%
Total income ₹908 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue797 cr997 cr906 cr
Total income801 cr998 cr908 cr
Expenses779 cr947 cr883 cr
Profit before tax22 cr52 cr25 cr
Tax5 cr10 cr7 cr
Net profit (owners' share)18 cr42 cr18 cr
Net margin (owners' share, on revenue)2.2%4.2%2.0%
EPS (₹)0.501.150.00
YoY (latest quarter): total income +27.9% · net profit +5.7%
Balance sheet & cash flow · as of Sep 2026
Moderate debt
Total assets
₹3,018 cr
Shareholder equity
₹962 cr
parent shareholders
Total debt
₹529 cr
Cash
₹8 cr
Cash flow · H1 FY27
Operating
₹18 cr
Investing
₹-151 cr
Financing
₹135 cr
Peer comparison
Speciality Retail · by market value
CompanyPriceMarket capP/E
Trent Limited₹3,037₹1.62 L cr87.3
Lenskart Solutions Limited₹671₹1.17 L cr131.1
Vedant Fashions Limited₹497₹12,070 cr45.2
Aditya Birla Lifestyle Brands Limited₹73₹8,929 cr41.6
Aditya Vision Limited₹529₹6,874 cr93.8
V2 Retail Limitedthis company₹165₹6,003 cr—
Aditya Birla Fashion and Retail Limited₹39₹4,789 cr—
Arvind Fashions Limited₹351₹4,696 cr24.0
SS Retail Limited₹636₹4,189 cr44.4
Same industry · latest reported numbers · not a recommendation.
Corporate actions
ActionDetailEx-date
Stock splitStock Split From Rs.10/- to Rs.1/-25 Mar 2026
Who owns it · 2026-09-30
⚑ 1.8% pledged
Promoter
51.4%
FII / Foreign
3.7%
DII / Domestic
12.2%
Retail / others
32.6%
Promoter stake down 2.9% over the last 12 quarters.
Smart-money activity
Insider trades
SoldVishal Waterworld Private Limited · Promoter Group3,500 · ₹66.1 L18 Jun 25
SoldVishal Waterworld Private Limited · Promoter Group2,374 · ₹44.9 L17 Jun 25
SoldRam Chandra Agarwal · Promoters1,309 · ₹26.2 L6 Feb 25
Bulk / block deals
short— · NSE214 Oct 26
short— · NSE16,2025 Oct 26
short— · NSE1129 May 26
Stake changes
SoldVishal waterworld Private Ltd · promoter→ 54.22% · 5,87418 Jun 25
SoldRam Chandra Agarwal · promoter→ 54.24% · 19,4466 Feb 25
SoldAkash Agarwal · promoter→ 54.30% · 1,0004 Feb 25
Promoter pledges
PledgedInfina Finance (P) Ltd.33.50 L · 0.00% held30 Mar 26
PledgedInfina Finance Private Ltd33.50 L · 0.00% held30 Mar 26
Releasedbank Of India7.70 L · 2.26% held2 Apr 19
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 8 Mar 2026
See the official result
1
Sub-division of Equity Shares
Backed by 100% of shareholders other than promotersneeded 50%
43.86 L votes for, 82 against · 0% of mutual funds and other big investors said no
2
Alteration of the capital clause of Memorandum of Association of the Company
Backed by 100% of shareholders other than promotersneeded 50%
43.86 L votes for, 83 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 8 named members
owning 51.4% between them · as of 2026-09-30
Ricon Commodities Private Limited35.28%
Ram Chandra Agarwal5.17%
Akash Agarwal4.49%
Vishal Waterworld Pvt Ltd3.93%
V2 Conglomerate Limited1.73%
Ramchandra Agarwal HUF0.43%
Uma Agarwal0.39%
Shreya AgarwaL0.01%
Business done with them
FY2026 · 4 of the group
The company paid ₹8 cr to companies in the promoter group last year — about 0.3% of its ₹3,067 cr revenue and received ₹27 cr back from them.
RICON COMMODITIES PVT.LTD.
Other income from them · As per the Financials
also owns 35.28% of the company
₹25 cr
company received
Ram Chandra Agarwal
Contribution made to them · Remuneration
also owns 5.17% of the company
₹5 cr
company paid
VISHAL WATERWORLD PRIVATE LIMITED
Contribution made to them · As per the Financials
also owns 3.93% of the company
₹2 cr
company paid
VISHAL WATERWORLD PRIVATE LIMITED
Other income from them · As per the Financials
also owns 3.93% of the company
₹2 cr
company received
VISHAL WATERWORLD PRIVATE LIMITED
Other payments to them · As per the Financials
also owns 3.93% of the company
₹1 cr
company paid
Ram Chandra Agarwal
Other income from them · Remuneration
also owns 5.17% of the company
₹1 cr
company received
Akash Agarwal
Other payments to them · Remuneration
also owns 4.49% of the company
₹60 L
company paid

The company also transacted with 3 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.