V-Mart Retail share price today

V-Mart Retail Ltd's share price was ₹734.05 at the close on 4 November 2026. It has been rising for 18 weeks. That is 1.7% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹493 and ₹839, and at that close it sat 70% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today V-Mart Retail Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 1 week running.

Over the last 11 years the share price moved +554% while the NIFTY 500 moved +257%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 30 October 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: revenue up on a year earlier for 11 quarters in a row (every quarter we can compare), foreign funds (FIIs) cut their stake for 5 quarters in a row and indian funds and insurers (DIIs) cut their stake for 3 quarters in a row.

1. Revenue up on a year earlier for 11 quarters in a row (every quarter we can compare)

   In the June 2026 quarter revenue was ₹1,089 crore, +23.1% on a year earlier.

   Why: Revenue rose because stores open a year or more sold more: V-Mart 8% and Unlimited 13%, with 39% more footfalls and 18% more bills.

   Next results: check Q2 sales and margins against last year, because Durga Puja falls 19 days later and may move festive demand into Q3.

   From the earnings call on 27 Jul 2026.

2. Foreign funds (FIIs) cut their stake for 5 quarters in a row

   From 18.3% to 16.4% of the company by the September 2026 quarter.

3. Indian funds and insurers (DIIs) cut their stake for 3 quarters in a row

   From 32.5% to 30.6% of the company by the September 2026 quarter.

For April to June 2026 (the quarter ended 30 June 2026), V-Mart Retail reported revenue of ₹1,089 crore, up 23.1% from ₹885 crore a year earlier, and a profit of ₹47.0 crore, up 38.2% from ₹34.0 crore.

V-Mart Retail results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

V-Mart Retail's management discussed these results on a call held on 27 July 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

V-Mart Retail closed at ₹734.05 on 4 November 2026, down 10.2% from ₹817.65 a year earlier (7 November 2025) and down 27.3% over five years. Its highest weekly close since February 2016 was ₹1,117.36 on 11 October 2024.

V-Mart Retail share price: then and now

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

564 weekly closes from 26 February 2016 to 4 November 2026.

4 Nov 2026: V-Mart Retail closed at ₹734.05, down 0.7% on the week and down 1.7% on the month. Our read, 22 Aug 2026: V-Mart's April to June 2026 result confirms the operating leverage thesis is intact: revenue grew 23%, same-store sales grew 9%, and reported profit of ₹47 crore rose 41% year on year despite 10% raw material inflation and a compressed gross margin, the fixed-cost base is converting revenue growth into earnings at an accelerating pace.

Earlier

• 27 Jul 2026: V-Mart Retail held its results call for April to June 2026. Management guided: FY27 same-store sales planned at mid-to-high single digits, with management aiming to exceed last year's SSG.
• 17 Jul 2026: ex-date for a dividend of ₹1 a share.
• Results for April to June 2026: Revenue up 23.1% and profit up 38.2% on a year earlier.
• 23 Jun 2025: Bonus issue: 3 new shares for every 1 held (ex-date).

Our read of the business

The company's cost base ballooned post-COVID and post-Unlimited acquisition; FY24 was the loss trough at annual profit of Rs -97 Cr. FY26 delivered profit ₹124 crore and April to June 2026 continues the recovery, printing ₹47 crore against ₹34 crore a year ago, 11 consecutive quarters of positive same-store sales growth.

April to June 2026: Broad-based 23% revenue growth with 9% same-store sales and Unlimited SSG of 13%; reported operating margin expanded 50 basis points to 14.8%; profit up 41% to 11 consecutive quarters of positive like-for-like growth.

Our read after the April to June 2026 results, written 22 August 2026.

V-Mart Retail paid ₹1 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.14% at the ₹734.05 close on 4 November 2026. The last was a dividend of ₹1 a share, ex-date 17 July 2026.

V-Mart Retail dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date.

Yes. V-Mart Retail Ltd paid out 6% of its profit as dividends in FY26, and it paid a dividend in 8 of its last 13 reported years.

From the NSE corporate-actions record, read 5 November 2026.

On the call for April to June 2026, held on 27 July 2026, V-Mart Retail's management guided: FY27 same-store sales planned at mid-to-high single digits, with management aiming to exceed last year's SSG.

“We want to continue and better the last year's SSG. We are targeting mid-to-high single digits.”Anand Agarwal, CFO and CEO, on the call for April to June 2026

What management guided

• FY27 store expansion remains at 90+ gross openings.
• July to September 2026 sales and margins expected to face a negative timing impact versus last year as Durga Puja moves 19 days into Q3, with recovery expected through good festive growth in Q3.
• Unlimited openings expected to accelerate versus last year, while operating margin should become almost similar to V-Mart over the next couple of years.
• Price increases not to exceed 3.0%-5.0%, including mix change and approximately 2.0%-2.5% inflation.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 27 July 2026.

If same-store sales fall below 3% for two consecutive quarters while the operating margin simultaneously contracts below 10% on an annualized basis, the operating leverage thesis breaks. Additionally, if the October to December 2026 festive quarter, which must absorb the Durga Puja timing recovery, delivers operating margin below 16%, that would indicate the seasonal timing shift masked structural demand weakness.

Each change stops working if

• : Same-store sales falls below 3% for two consecutive non-seasonal quarters, at which point the fixed cost base becomes a headwind and operating margin reverts below 10%.
• : Unlimited South same-store sales decelerates below 5% in two consecutive quarters, or new store sales per square foot falls materially below ₹710.
• : LimeRoad marketplace losses stop declining for two consecutive quarters, or NMV growth reverses, requiring renewed marketing spending that flows through to the consolidated profit line.
• : Urban and rural consumer spending durably contract due to wage deflation or structural unemployment, removing the fundamental tailwind that makes same-store sales growth mechanically achievable.

The main risks

• : Raw material inflation, basket inflation running at 10% in April to June 2026, compresses gross margin if the selective pass-through strategy does not absorb the full impact. ✓ fact
• : Management credibility gap, four guidance reversals without acknowledgment across five concalls signal optimistic bias that may delay recognition of deterioration. ✓ fact

Our read after the April to June 2026 results, written 22 August 2026.

When V-Mart Retail reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: July to September 2026 sales and margins versus last year, including the 19-day Durga Puja timing shift and whether Q3 festive demand recovers the impact.

V-Mart Retail is not on any of our India lists this week.

V-Mart Retail Ltd earned ₹47.0 Cr of net profit in the Jun 2026 quarter, +38.2% on the same quarter a year earlier. Full-year FY26 profit was ₹124 Cr. Over 10 years profit has grown 16.0% a year on average. That is 4.3% of the quarter's revenue. The same quarter a year earlier earned ₹34.0 Cr.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

4 of the last 12 reported quarters were loss-making.

For the full year, FY26 profit was ₹124 Cr (+169.6% on the year before).

Why profit moved: revenue changed +23.1% on a year earlier and the margin moved +1.0 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed +6.1% and revenue +19.8%. Profit is growing slower than sales: rising costs are taking part of the growth.

FY26-Q4. revenue ₹971 Cr and profit ₹11 Cr as reported.

FY27-Q1. revenue ₹1,089 Cr and profit ₹47 Cr as reported.

Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.

V-Mart Retail Ltd reported ₹1,089 Cr of revenue in the Jun 2026 quarter, +23.1% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 10 years it has grown 16.7% a year on average. The last full year, FY26, came in at ₹3,789 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹3,993 Cr.

FY26 revenue was ₹3,789 Cr, +16.4% on the year before.

Recent pace: the last four quarters grew +19.8% on average, against 16.7% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +19.1%, against +17.5% a year over the last 8 quarters (stabilising).

FY26-Q4. revenue ₹971 Cr and profit ₹11 Cr as reported.

FY27-Q1. revenue ₹1,089 Cr and profit ₹47 Cr as reported.

Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.

V-Mart Retail Ltd's operating margin was 15.0% in the Jun 2026 quarter, 1.0 percentage points higher than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 13 years it has been between 8.0% and 14.0%. The latest quarter is above every full year in that period.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why this happened. V-Mart's cost structure is dominated by rent (aiming for 7% of sales), staff, and depreciation, all largely fixed per store. Q1 FY27 demonstrates this: revenue grew 23% while pre-Ind AS EBITDA margin expanded 70 basis points to 7.6% despite a gross margin dip of 80 basis points. Management's own arithmetic requires 6 to 7% same-store sales growth to generate 120 basis points of operating leverage. Unlimited South format delivered 33% revenue growth producing 40% EBITDA growth in Q1 FY27, showing the same lever at work in a newer geography.

Why the margin moved: operating margin changed +0.5 percentage points on the year while gross margin changed −0.8 points. So the gain came mostly from the gross margin, which means input costs and prices charged.

As noted under valuation: when margins are at a record, every ratio built on profit looks better than usual, so a low multiple can mislead.

FY26-Q4. revenue ₹971 Cr and profit ₹11 Cr as reported.

FY27-Q1. revenue ₹1,089 Cr and profit ₹47 Cr as reported.

Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.

Over the last 3 years, 461% of V-Mart Retail Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹501 Cr of operating cash against ₹124 Cr of profit.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

After ₹628 Cr of spending on assets, free cash was −₹127 Cr: it spent more than its operations brought in.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 461% of profit came in as cash: the cash cycle got 46 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner.

What to look at next: no single use of cash stands out. The next section checks both the cash tied up in daily operations and the spending on assets.

V-Mart Retail Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 73 days in FY26, down from 119 days in FY21. It spent ₹572 Cr on assets over the last 3 years. Customers take 0 days to pay, and stock sits for 145 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

Why this happened. The large share of unorganized apparel retail means most of V-Mart's growth comes from consumers trading up from local informal stores rather than from fighting Reliance or Trent head-to-head. This structural opportunity supports the case for continued double-digit top-line growth even as organized competition expands.

At FY26 sales of ₹3,789 Cr, each day of that cycle ties up about ₹10.4 Cr, so roughly ₹758 Cr is tied up in the business at any time.

FY26: customers took 0 days to pay and stock sat for 145 days, about 4.8 months of sales sitting as stock, for a full cycle of 73 days, shorter than FY21's 119.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 145 days. Customers pay about 0 days after that. Suppliers are paid at 72 days. Together that makes the 73-day cycle.

Spending on assets: ₹572 Cr over the last 3 years, against ₹752 Cr of depreciation (the yearly wear and tear on existing assets). So it is spending about what it takes to replace what wears out, or less. Work still in progress is ₹8.0 Cr (FY26): assets paid for that are not earning yet.

In short: neither the daily cycle nor new spending is soaking up the cash, so the picture is fairly clean.

V-Mart Retail Ltd's P/E is 42.1×, near the low end of its own history: it has been lower only 28% of the time. Its usual P/E (the middle reading) is 55.0×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

Keep one thing in mind: margins are the best this company has ever reported. A multiple that looks low against its own past can mislead when profit is at a record. If margins fall back, today's multiple is higher than it looks.