V2 RETAIL LIMITED

V2 Retail Limited reported a strong performance in Q1 FY27, achieving a 58% year-on-year revenue growth, reaching INR 997 crores. Management highlighted the company's operational strength, driven by innovation and customer trust. The company added 56 stores, bringing the total to 381, and subsequently surpassed 400 stores. Same-store sales growth (SSSG) was approximately 7.5%. Management noted a slight contraction in gross margin to 28.6% due to a decrease in full-price sales, attributed to seasonal factors. EBITDA grew 60% year-on-year to INR 139.5 crores, with a margin improvement to 14%. Management emphasized ongoing investments in technology and supply chain efficiency to sustain growth. They expressed confidence in the long-term potential of India's value fashion market, focusing on disciplined execution and customer engagement. The company plans to open 170 to 200 stores in FY27, supported by internal accruals and bank financing.

Management emphasized strong growth and operational strength throughout the discussion.