V2 Retail Limited — Q1FY27 earnings call summary

Filed 17 August 2026 · Official transcript

Same-store sales growth guidance 8-10% for FY27; new stores at ~730 INR/sq ft sales
Q1 FY27 revenue grew 58% y-y to INR997 Cr; EBITDA rose 60% y-y to INR139.5 Cr; PAT up 70% y-y to INR41.9 Cr
Gross margin at 28.6%, guided to maintain 29-30% range depending on sell-through
Operating leverage expected to improve as new stores mature beyond FY29
Added 56 net stores in Q1; total 381 stores as of June 30, 2026; targeting 170-200 new stores in FY27
Price hikes of 4-5% planned from Q3 due to raw material cost increases
Inventory targeted at 90-100 days; creditor days 45-50; working capital managed via prepayments
Focus on fabric standardization, AI-driven analytics, and team strengthening for 50% CAGR growth