V2 Retail Q2 FY27 Revenue up 28% to ₹905.6 crore; H1 PAT increased 43%
RESULTS
▲ Positive Development
MEDIUM RISK
📅 Filed on BSE: 03 Nov 2026, 07:02 PM IST · BSE ID: cc2b5ced-aeaf-4147-8bc5-cec01ef5e20a
View Original BSE Filing (PDF)
💡
In Simple Terms
V2 Retail reported higher sales and profits for the September 2026 quarter and half-year, despite a festive season shift.
🤖 AI Summary
- V2 Retail's Q2 FY27 Revenue from operations increased 28% YoY to ₹905.6 crore.
- H1 FY27 Revenue from operations grew 42% YoY to ₹1,902.8 crore.
- H1 FY27 Net Profit surged 43% YoY to ₹60.9 crore from ₹41.9 crore in H1 FY26.
- Gross Margin expanded to 29.8% in H1 FY27 compared to 28.7% in H1 FY26.
- The company added 106 stores and closed 4 stores in H1 FY27, reaching 427 stores.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Revenue from operations (Q2 FY27)
₹905.6 crore
28%
EBITDA (Q2 FY27)
₹120.3 crore
41%
PAT (Q2 FY27)
₹18.2 crore
6%
Gross Margin (Q2 FY27)
31.1%
Revenue from operations (H1 FY27)
₹1,902.8 crore
42%
EBITDA (H1 FY27)
₹259.7 crore
50%
PAT (H1 FY27)
₹60.9 crore
43%
Gross Margin (H1 FY27)
29.8%
Total stores (as on Sep 30, 2026)
427
🏢 How This Affects the Company
The company maintained strong revenue growth momentum with a 28% increase in Q2 FY27 and 42% in H1 FY27, supported by strategic focus on full-price sales contributing 91%. The store count expanded to 427, opening 106 new stores in H1 FY27.
Gross margins improved to 31.1% in Q2 FY27 and 29.8% in H1 FY27. EBITDA for H1 FY27 grew 50% YoY to ₹259.7 crore, with PAT for H1 FY27 increasing 43% YoY to ₹60.9 crore, indicating improved profitability.
Store expansion continued with 106 new stores opened and 4 closed in H1 FY27. The company's strategy of reducing off-season discounting led to improved gross margins.
Reported SSSG was impacted by festive timing shifts, with Q2 FY27 SSSG at ~(14.9%) and H1 FY27 at (3.7%). However, normalized SSSG for Q2 FY27 was positive at 0.5%, suggesting underlying demand stability.
👥 What This Means For Shareholders
✅
Action Required
No immediate action is required from shareholders based on this financial results filing.
👤
Who Is Affected
Shareholders are affected by the company's financial performance, with H1 FY27 Net Profit increasing 43% to ₹60.9 crore, reflecting improved earnings.
🔍
Management Signal
Management is focused on profitable growth and disciplined expansion, prioritizing value over volume and investing in new stores despite short-term SSSG impact from festive calendar shifts.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Q3 FY27 results — observe if deferred festive demand supports performance.
Store expansion updates — track further additions and retail footprint growth.
SSSG normalization — monitor if the timing impact resolves in subsequent quarters.
MEDIUM RISK
Same Store Sales Growth (SSSG) was negative in Q2 and H1 FY27, though attributed to festive shifts.
💡 Investor Takeaway
V2 Retail reported H1 FY27 Revenue from operations of ₹1,902.8 crore, a 42% YoY increase, and Net Profit of ₹60.9 crore, up 43% YoY. Gross Margin expanded to 29.8% in H1 FY27. Q2 FY27 Revenue grew 28% YoY to ₹905.6 crore.
⚖️ Strengths & Concerns
✅ Positives
- Revenue from operations in H1 FY27 grew 42% YoY to ₹1,902.8 crore, indicating strong business expansion.
- Net Profit for H1 FY27 surged 43% YoY to ₹60.9 crore, demonstrating enhanced profitability.
⚠️ Concerns
- Reported SSSG for Q2 FY27 was ~(14.9%), reflecting a significant impact from festive season timing shifts.
- PAT growth for Q2 FY27 was 6% YoY to ₹18.2 crore, impacted by elevated depreciation and amortisation charges.
📅 Company Track Record
V2 Retail's board had previously intimated a meeting on November 03, 2026, to approve the financial results for Q2/H1 FY27, which aligns with the current filing's release date.
Based on publicly available historical data. For context only.
❓ Frequently Asked Questions
What was V2 Retail's revenue from operations for Q2 FY27?
V2 Retail's Revenue from operations reached ₹905.6 crore in Q2 FY27, representing a 28% year-on-year growth.
What was V2 Retail's Net Profit for H1 FY27?
Net Profit for H1 FY27 stood at ₹60.9 crore, marking a 43% year-on-year growth compared to ₹41.9 crore in H1 FY26.
How many stores does V2 Retail operate as of September 30, 2026?
As of September 30, 2026, V2 Retail operates 427 stores with a total retail area of ~46.3 lac Sq. Ft.
What was the Gross Margin for V2 Retail in H1 FY27?
V2 Retail's Gross Margin improved to 29.8% for H1 FY27, compared to 28.7% in H1 FY26.
Questions based on this BSE filing only. For information purposes.