V2 Retail Limited (V2RETAIL)

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V2 Retail Limited (V2RETAIL) · mywealthgrid

About

V2 Retail Limited operates in speciality retail within India's consumer discretionary sector. With a market cap of ₹7,889.94 Cr and quarterly revenues of ₹600–950 Cr, it is an established player in discretionary retail. The stock posted a 27.75% 12-month return and underwent a stock split in March 2026.

Face value: ₹1

Market cap

₹7,343 Cr

P/E

41.1×

P/B

8.1×

Dividend yield

ROE

26%

ROCE

22%

Debt / equity

0.28

OPM

14.9%

EPS (TTM)

₹4.9

Book value

₹24.7

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Profitability collapsed from ₹99–102 Cr (Dec 2025, 19% OPM) to ₹17–18 Cr (Mar 2026, 14% OPM); verify whether Dec was anomalous or Mar reflects structural challenges.
OPM ranged 12–19% across quarters, indicating operational inconsistency; verify management's plan to stabilize margins.
PE 48.86 is elevated; verify whether earnings growth justifies valuation if operational consistency does not improve.
Consumer discretionary is cyclically sensitive to macro spending; verify current demand environment and downside exposure.

Generated analysis · source review pending

Growth drivers

Operating margins peaked at 19.07% in Dec 2025; improving consistency above 14–16% baseline would expand earnings on the established ₹800+ Cr quarterly revenue base.
ROE of 25.96% demonstrates capital efficiency; verify if revenue growth strategy maintains or improves this return level.
D/E ratio 0.28 provides capital headroom; verify how management plans to deploy this flexibility for growth.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹201.4-3.8%1Y

Quick read

rule-based

Pros

+Strong return on equity of 19.9% (3-yr avg)
+Revenue CAGR of 41.6% over the last 5 years

Cons

−Trading at 8.1× book value
−Promoter holding fell 2.8 pts over the last year

Research score

Structured signal from quality, growth, valuation and momentum.

64/100

Business quality: 55
Growth: 100
Valuation: 39

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY MICROCAP 250 NIFTY TOTAL MARKET

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	701	539	629	839	1,165	1,885	3,067
COGS	505	376	428	553	767	1,285	2,137
Gross profit	196	163	202	286	398	599	930
	121	114	137	202	250	341	475
	75	49	65	84	148	258	456
OPM %	10.7%	9%	10.3%	10%	12.7%	13.7%	14.9%
Depreciation	51	56	59	67	77	99	182
Interest	30	31	37	41	47	68	97
	15	23	16	7	7	7	38
Profit before tax	9	-15	-15	-17	31	98	215
Tax	-0	-2	-3	-4	4	26	53
Tax %	-1.3%	-16%	-21.4%	-24.4%	11.4%	26.7%	24.5%
	9	-13	-12	-13	28	72	162
PAT margin %	1.3%	-2.4%	-1.9%	-1.5%	2.4%	3.8%	5.3%
EPS (₹)	2.6	-3.8	-3.4	-3.7	8	20.8	4.6
EPS adjusted (₹)	—	-0.4	-0.3	-0.4	0.8	2.1	4.4
Annual report	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	34	34	34	35	35	36
Reserves	235	224	213	240	312	866
	54	55	54	91	116	254
	491	479	494	662	1,166	1,266
Total equity & liabilities	813	792	794	1,027	1,628	2,422
	105	107	102	118	211	311
CWIP	290	286	0	0	4	36
Investments	0	0	0	0	652	658
	418	398	692	909	761	1,418
Total assets	813	792	794	1,027	1,628	2,422

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	28%	30.2%	32%	34%	34.2%	31.8%	30.3%
EBITDA margin %	10.7%	9%	10.3%	10%	12.7%	13.7%	14.9%
EBIT margin %	3.4%	-1.3%	0.9%	2%	6.1%	8.4%	8.9%
PAT margin %	1.3%	-2.4%	-1.9%	-1.5%	2.4%	3.8%	5.3%
Working capital
Receivable days	—	0	1	0	0	0	0
Inventory days	—	293	248	184	199	159	195
Payable days	—	128	102	71	92	105	79
NWC days	—	166	147	113	107	54	116
Leverage
Current ratio	—	1.56	1.59	1.59	1.43	1.23	1.44
Debt to EBITDA	—	1.11	0.84	0.64	0.61	0.45	0.56
Debt to equity	—	0.2	0.21	0.22	0.33	0.33	0.28
Interest coverage	0.9	0.5	0.6	0.6	1.7	2.4	2.9
Asset turnover	—	0.66	0.79	1.06	1.13	1.16	1.27
Return ratios
Return on assets %	—	-1.6%	-1.5%	-1.6%	2.7%	4.4%	6.7%
Return on capital employed %	—	2.8%	3.7%	4%	12.3%	18.9%	22%
Return on equity %	—	-4.8%	-4.5%	-5.2%	10.1%	20.8%	18%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	54.26%	54.28%	54.28%	54.3%	54.3%	54.3%	54.24%	54.22%	54.22%	51.43%	51.43%	51.43%
	6.36%	6.36%	6.57%	6.69%	0.8%	0.91%	1.31%	1.9%	2.1%	3.01%	2.62%	3.11%
	0.37%	0.37%	0.36%	0.43%	4.37%	5.99%	6.7%	7.34%	7.12%	9.12%	9.28%	10.65%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	39.01%	38.99%	38.79%	38.58%	40.53%	38.8%	37.75%	36.54%	36.56%	36.44%	36.67%	34.81%
No. of shareholders	—	—	—	—	—	—	—	—	39,938	42,869	45,025	52,967

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 3 fund houses

Held by these funds

7.43%

of the company's equity

All mutual funds

9.27%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

10 schemes · 3 fund houses

		Shares
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	1.56 Cr	347.24	1.72%	4.277%	-1 L
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	62.57 L	139.33	1.71%	1.716%	-0
Flexi Cap Fund	Helios Mutual Fund	17.08 L	38.02	0.43%	0.468%	-0
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	15.43 L	34.37	2.9%	0.423%	-3.31 L
Mid Cap FundNEW	Helios Mutual Fund	7.65 L	17.04	0.76%	0.21%	—
Small Cap FundNEW	Helios Mutual Fund	6.55 L	14.58	0.84%	0.18%	—
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	4.55 L	10.14	0.41%	0.125%	-9,968
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	1.04 L	2.32	2.52%	0.029%	-0

1–8 of 10

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

1

Board meeting to consider results13 Aug 2026

1

Face value ₹10 → ₹125 Mar 2026 · ex-date

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

15 announcementsExport CSV

1 Oct 2026, 12:21 pmInsider Trading / SAST

Updates on Disclosures under Reg. 10(5) in respect of acquisition under Reg. 10(1)(a) of SEBI (SAST) Regulations, 2011

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Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	28%	30.2%	32%	34%	34.2%	31.8%	30.3%
EBITDA margin %	10.7%	9%	10.3%	10%	12.7%	13.7%	14.9%
EBIT margin %	3.4%	-1.3%	0.9%	2%	6.1%	8.4%	8.9%
PAT margin %	1.3%	-2.4%	-1.9%	-1.5%	2.4%	3.8%	5.3%
Working capital
Receivable days	—	0	1	0	0	0	0
Inventory days	—	293	248	184	199	159	195
Payable days	—	128	102	71	92	105	79
NWC days	—	166	147	113	107	54	116
Leverage
Current ratio	—	1.56	1.59	1.59	1.43	1.23	1.44
Debt to EBITDA	—	1.11	0.84	0.64	0.61	0.45	0.56
Debt to equity	—	0.2	0.21	0.22	0.33	0.33	0.28
Interest coverage	0.9	0.5	0.6	0.6	1.7	2.4	2.9
Asset turnover	—	0.66	0.79	1.06	1.13	1.16	1.27
Return ratios
Return on assets %	—	-1.6%	-1.5%	-1.6%	2.7%	4.4%	6.7%
Return on capital employed %	—	2.8%	3.7%	4%	12.3%	18.9%	22%
Return on equity %	—	-4.8%	-4.5%	-5.2%	10.1%	20.8%	18%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Lenskart Solutions LimitedLENSKARTLENSKART	₹1,20,170 Cr	₹1,20,390 Cr	₹9,634 Cr	₹2,005 Cr	19.9%	₹655 Cr	5.7%	8.6%	6.7%	19
Vedant Fashions LimitedMANYAVARMANYAVAR	₹12,617 Cr	₹12,617 Cr	₹1,345 Cr	₹652 Cr	48.1%	₹403 Cr	30.3%	30.4%	27.6%	198
Aditya Birla Lifestyle Brands LimitedABLBLABLBL	₹9,085 Cr	₹9,919 Cr	₹8,601 Cr	₹1,389 Cr	16%	₹176 Cr	2%	15.6%	23.3%	59
Aditya Vision LimitedAVLAVL	₹7,388 Cr	₹7,719 Cr	₹2,924 Cr	₹263 Cr	8.5%	₹139 Cr	4.4%	23.7%	18.4%	104
V2 Retail LimitedV2RETAILV2RETAIL	₹7,343 Cr	₹7,597 Cr	₹3,432 Cr	₹508 Cr	14.9%	₹179 Cr	5.3%	22%	26%	116
Aditya Birla Fashion And Retail LimitedABFRLABFRL	₹5,435 Cr	₹7,129 Cr	₹8,371 Cr	₹675 Cr	8%	₹-779 Cr	-10.2%	-2.9%	-12.3%	68
Ss Retail LimitedSSRETAILSSRETAIL	₹5,315 Cr	—	₹2,351 Cr	₹125 Cr	5.3%	₹60 Cr	2.5%	28.7%	26.5%	—
Arvind Fashions LimitedARVINDFASNARVINDFASN	₹5,073 Cr	₹5,604 Cr	₹5,437 Cr	₹731 Cr	13.4%	₹120 Cr	3.5%	23%	12.9%	52
Purple Style Labs LimitedPERNIASPOPPERNIASPOP	₹4,363 Cr	₹4,734 Cr	₹558 Cr	₹21 Cr	3.8%	₹-285 Cr	-51.2%	-24.9%	-875.1%	131
Shankara Buildpro LimitedBUILDPROBUILDPRO	₹3,023 Cr	₹3,084 Cr	₹6,826 Cr	₹227 Cr	3.3%	₹128 Cr	1.9%	40%	23.4%	24
Baazar Style Retail LimitedSTYLEBAAZASTYLEBAAZA	₹2,803 Cr	₹3,151 Cr	₹1,950 Cr	₹279 Cr	14.4%	₹47 Cr	2.6%	9.5%	11%	86
Go Fashion (India) LimitedGOCOLORSGOCOLORS	₹1,551 Cr	₹1,551 Cr	₹838 Cr	₹229 Cr	28.3%	₹53 Cr	7.1%	11.5%	8.5%	334

12 deals · 23 Dec 2021 – 31 Jul 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
31 Jul 2025	MOTILAL OSWAL MUTUAL FUND	Bulk	NSE	Sell	1,90,000	₹1,868.30	₹35.50 Cr
23 Sept 2024	MOTILAL OSWAL MUTUAL FUND - MOTILAL OSWAL LARGE AND MIDCAP FUND	Block	NSE	Buy	7,34,800	₹1,160.00	₹85.24 Cr
23 Sept 2024	INDIA 2020 FUND II LIMITED	Block	NSE	Sell	7,34,800	₹1,160.00	₹85.24 Cr
23 Sept 2024	MOTILAL OSWAL MUTUAL FUND - MOTILAL OSWAL LARGE AND MIDCAP FUND	Bulk	NSE	Buy	7,34,800	₹1,160.00	₹85.24 Cr
23 Sept 2024	INDIA 2020 FUND II LIMITED	Bulk	NSE	Sell	7,34,800	₹1,160.00	₹85.24 Cr
23 Aug 2024	MOTILAL OSWAL MUTUAL FUND(MOTILAL OSWAL SMALL CAP FUND)	Bulk	BSE	Buy	4,10,000	₹1,062.35	₹43.56 Cr
23 Aug 2024	INDIA 2020 FUND II,LIMITED	Bulk	BSE	Sell	4,00,000	₹1,061.40	₹42.46 Cr
22 Aug 2024	INDIA 2020 FUND II,LIMITED	Bulk	BSE	Sell	7,00,000	₹1,056.17	₹73.93 Cr
22 Aug 2024	F3 ADVISORS PRIVATE LIMITED	Bulk	BSE	Buy	2,18,000	₹1,055.03	₹23.00 Cr
1 Aug 2024	MIV INVESTMENT SERVICES PRIVATE LIMITED	Bulk	BSE	Buy	1,97,000	₹983.25	₹19.37 Cr

1–10 of 12

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Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Date	Category	Subject	Filing
1 Oct 2026, 12:21 pm	Insider Trading / SAST Disclosures under Reg. 10(5) in respect of acquisition under Reg. 10(1)(a) of SEBI (SAST) Reg. 2011	Updates on Disclosures under Reg. 10(5) in respect of acquisition under Reg. 10(1)(a) of SEBI (SAST) Regulations, 2011	PDF
28 Sept 2026, 2:04 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
2 Sept 2026, 1:25 pm	Company Update Credit Rating	Announcement under Regulation 30 (LODR)-Credit Rating	PDF
17 Aug 2026, 4:36 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome	PDF
14 Aug 2026, 3:34 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
14 Aug 2026, 3:25 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome	PDF
11 Aug 2026, 10:21 am	Company Update General	Milestone Announcement Of Opening Of 400Th Store	PDF
11 Aug 2026, 8:38 am	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	3	59	86	93	223	-103
	-20	-16	-12	-39	-131	-219
	-22	-58	-76	-50	-93	319
Net cash flow	-39	-15	-2	5	-0	-3
Free cash flow	-24	43	74	54	89	-334
CFO / Operating profit %	6.9%	90.7%	102.8%	63.2%	86.5%	-22.7%

V2 Retail Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

1

1

Announcements

1

1

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Compounded sales growth

Compounded profit growth

Return on equity

V2 Retail Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Board meetings1

Stock splits1

Announcements

Ratio timeline

Board meetings1

Stock splits1

Not in the F&O segment

Announcements

Quarterly record

Annual reports

Credit ratings

Investor Presentation and earnings call

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

1

1

1

1