VMARTConsumer Services

V-Mart Retail Limited

Diversified Retail · ISIN INE665J01013 · BSE 534976 · NSE EQ · FV ₹10
Last price
₹734
+2.29%today
What this company does

V-Mart Retail Limited operates in Diversified Retail, part of the Consumer Services sector. It booked ₹953 cr of revenue in its latest quarter (Q2 FY27) and kept -1.7% of sales as profit. It is the 4th largest of 9 Diversified Retail companies we track, by market value.

“V-Mart in a Nutshell V-Mart Retail has been a leader in organised value fashion retailing, serving millions of customers since 2002. More than just a chain of retail stores, it has evolved into a lifestyle brand offering fashion apparel, footwear, home furnishings, and general 2,78,560 merchandise for the entire family at honest prices.”
In the report:
44out of 100
Equitytale Health Score
Strained

Healthier than 44% of companies in Consumer Services, on all six measures of filed financials. Each measure is ranked against the 25–46 companies that reported it.

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

Price momentum
oversold
RSI (14)
27

At close. Not part of the score.

Profitability & returns14

How much profit it earns on the money it employs

Balance sheet34

How much it owes, and whether earnings cover the interest

Cash quality72

Whether reported profit actually arrives as cash

Growth & consistency42

Whether sales and profit have grown, and how steadily

Valuation47

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

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Some things to watch
Strengths
✓ Sales up 18% vs last year
✓ Promoters hold 44%
✓ No promoter shares pledged
Watch-outs
! Currently loss-making
! Thin -1.7% net margin
! Low -6.7% return on equity

What if I invest in VMART?

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 14% a year, it would become
₹24.93 lakh

The slider starts at 14%, taken from this company's own free-cash-flow trend. That is history, not a forecast — 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 We do not publish price targets or predict returns.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
₹734▲ +2.29%
latest close · 2026-11-04
1-year return
-25.8%
52-wk low ₹60252-wk high ₹1,212
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 ratio5.97High
Below bookModerateHigh
EV / EBITDA17.0High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity-6.7%Loss
WeakFairStrong ▸15%
Return on capital-0.0%Loss
WeakFairStrong
Net margin-1.7%Loss
ThinDecentStrong
EBITDA margin9.3%Thin
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.19Comfortable
LowModerateHigh ▸1
Interest cover-0.0×Risky
RiskyOkayStrong ▸5×
Current ratio1.01Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹5,842 cr
Book value
₹123
EPS
₹-2.06
latest quarter
Net debt
₹177 cr
owes more than its cash
Enterprise value
₹6,019 cr
EBITDA
₹355 cr
annualised
EBIT
₹-4 L
annualised
Operating margin
-0.0%
Return on assets
-2.1%
Earnings yield
—
P/S
1.53
Sales / share
₹479.0
Tax rate
—
Face value
₹10
Shares
8.0 cr
Working capital
₹15 cr
Current assets
₹1,486 cr
Current liabilities
₹1,471 cr
Delivery %
48.5%
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 2024 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 ₹51–₹64, midpoint ₹57

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₹953 cr
Other Income₹3 cr
Total Income₹956 cr
Cost of Materials₹0 cr
Purchases of Stock-in-Trade₹931 cr
Inventory Change (±)₹-296 cr
Employee Benefit Expense₹112 cr
Finance Costs₹21 cr
Depreciation & Amortisation₹89 cr
Other Expenses₹121 cr
Total Expenses₹976 cr
Profit before Tax₹-21 cr
Tax Expense₹-4 cr
Net Profit₹-16 cr
Net margin on total income-1.7%
Where the money goes · Q2 FY27
% of total spend
Materials + stock-in-trade₹634 cr64.9%
Employee benefit expense₹112 cr11.5%
Finance costs₹21 cr2.1%
Depreciation & amortisation₹89 cr9.1%
Other expenses₹121 cr12.4%
Total income ₹956 cr

The company made a net loss of ₹16 cr this quarter — income covered only ₹98 of every ₹100 it spent on costs and tax.

Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue971 cr1,089 cr953 cr
Total income976 cr1,091 cr956 cr
Expenses964 cr1,032 cr976 cr
Profit before tax13 cr60 cr-21 cr
Tax1 cr12 cr-4 cr
Net profit (owners' share)11 cr47 cr-16 cr
Net margin (owners' share, on revenue)1.2%4.3%-1.7%
EPS (₹)1.495.94-2.06
YoY (latest quarter): total income +17.9% · net profit —
Balance sheet & cash flow · as of Sep 2026
Low debt
Total assets
₹3,081 cr
Shareholder equity
₹979 cr
parent shareholders
Total debt
₹190 cr
Cash
₹13 cr
Cash flow · H1 FY27
Operating
₹140 cr
Investing
₹-64 cr
Financing
₹-83 cr
Peer comparison
Diversified Retail · by market value
CompanyPriceMarket capP/E
Avenue Supermarts Limited₹3,359₹2.19 L cr73.7
Vishal Mega Mart Limited₹91₹42,491 cr66.7
Electronics Mart India Limited₹154₹5,916 cr12.2
V-Mart Retail Limitedthis company₹718₹5,711 cr—
Shoppers Stop Limited₹354₹3,904 cr316.3
Patel Retail Limited₹244₹814 cr21.4
Spencer's Retail Limited₹20₹184 cr—
Future Enterprises Limited₹2₹98 cr—
JHS Svendgaard Retail Ventures Limited₹27₹22 cr29.3
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.14%
trailing 12 months
Dividend / share (TTM)
₹1
Last dividend
₹1
ex 17 Jul 2026
ActionDetailEx-date
Dividend₹1 / share17 Jul 2026
Bonus issue1:323 Jun 2025
Dividend₹0.75 / share18 Aug 2022
Dividend₹1.7 / share24 Jul 2019
Dividend₹2 / share20 Jun 2018
Dividend₹1.25 / share8 Sep 2017
Who owns it · 2026-09-30
No pledge
Promoter
44.1%
FII / Foreign
16.4%
DII / Domestic
30.6%
Retail / others
8.8%
Promoter stake down 0.2% over the last 12 quarters.
Smart-money activity
Insider trades
BoughtMr Lalit Agarwal · Director69,120 · ₹3.5 cr20 Mar 26
BoughtMr Madan Gopal Agarwal · Promoters41.68 L27 Jun 25
SoldMr Lalit Agarwal · Promoters41.68 L27 Jun 25
Bulk / block deals
short— · NSE12512 Oct 26
short— · NSE97 Apr 26
BoughtQE SECURITIES LLP · NSE7.15 L @ ₹628.727 Apr 26
Stake changes
BoughtLalit Agarwal · promoter→ 71.00% · 1.97 cr10 Dec 25
BoughtBandhan Mutual Fund (Formerly IDFC Mutual Fund)→ 5.01% · 22,22111 Jul 25
SoldMadan Gopal Agarwal HUF · promoter→ 0.00% · 1.97 cr27 Jun 25
Promoter pledges
ReleasedMotilal Oswal Financial Services Ltd25,000 · 0.14% held15 Oct 20
PledgedMotilal Oswal Financial Services Ltd25,000 · 0.00% held21 Sep 20
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.

Yearly shareholder meeting · 29 Jul 2025
See the official result
1
TO RECEIVE, CONSIDER, AND ADOPT THE AUDITED FINANCIAL STATEMENTS OF THE COMPANY FOR THE FINANCIAL YEAR ENDED MARCH 31, 2025, ALONG WITH THE REPORTS OF THE AUDITORS AND THE BOARD OF DIRECTORS THEREON.
Backed by 100% of shareholders other than promotersneeded 50%
3.58 cr votes for, 35 against · 0% of mutual funds and other big investors said no
2
APPOINTMENT OF MR. LALIT AGARWAL (DIN: 00900900) AS DIRECTOR, LIABLE TO RETIRE BY ROTATION
Backed by 100% of shareholders other than promotersneeded 50%
3.56 cr votes for, 1.51 L against · 0% of mutual funds and other big investors said no
3
REVISION IN REMUNERATION OF MR. VARIN AGGARWAL WHO IS HOLDING AN OFFICE OR PLACE OF PROFIT IN THE COMPANY
Promoters had a personal stake in this
Backed by 88% of shareholders other than promotersneeded 50%
3.14 cr votes for, 44.29 L against · 13% of mutual funds and other big investors said no
4
APPROVAL FOR THE PAYMENT OF COMMISSIONS TO NON-EXECUTIVE DIRECTORS OF THE COMPANY
Backed by 100% of shareholders other than promotersneeded 50%
3.58 cr votes for, 35 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 — 36 named members
owning 44.1% between them · as of 2026-09-30
CONQUEST BUSINESS SERVICES PVT LTD37.65%
Madan Gopal Agarwal5.24%
Lalit Agarwal1.24%
ASHOK KUMAR AGARWALno shares
BANWARILAL JATIAno shares
DITYA AGARWALno shares
GOPAL AGARWALno shares
LAKSHIT AGARWALno shares

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.