Vishal Mega Mart Reports Strong Financial Results for Q4FY26 and FY26
Vishal Mega Mart Limited, a leading retail player specializing in apparel, general merchandise, and FMCG categories, announced its audited financial results for the quarter and the full financial year ended March 31, 2026. The results indicate robust growth across revenue and profitability.Consolidated Financial Performance Summary
The company reported significant growth in its consolidated financials for both the quarter (Q4FY26) and the full year (FY26).The annual performance for FY26 saw the revenue from operations grow 20.4% year-on-year (YoY) to ₹ 129,063 million. Profit After Tax (PAT) grew 32.8% YoY to ₹ 8,392 million.
In the fourth quarter, the revenue from operations reached ₹ 31,141 million, marking a 22.2% YoY increase. PAT for Q4FY26 rose 45.9% YoY to ₹ 1,679 million.
The comparative financial highlights are presented below:
| Particulars (Rs. in Mn) | Q4FY26 | Q4FY25 | YoY % | FY26 | FY25 | YoY % |
|---|---|---|---|---|---|---|
| Revenue From Operations | 31,141 | 25,479 | 22.2% | 129,063 | 107,163 | 20.4% |
| Gross Profit | 8,672 | 7,201 | 20.4% | 36,681 | 30,527 | 20.2% |
| Gross Profit Margin (%) | 27.8% | 28.3% | 28.4% | 28.5% | ||
| Reported EBITDA | 4,248 | 3,571 | 18.9% | 18,836 | 15,302 | 23.1% |
| EBITDA Margin (%) | 13.6% | 14.0% | 14.6% | 14.3% | ||
| Profit After Tax | 1,679 | 1,151 | 45.9% | 8,392 | 6,320 | 32.8% |
| Profit After Tax Margin (%) | 5.4% | 4.5% | 6.5% | 5.9% | ||
| Adjusted EBITDA (pre-INDAS 116 and pre-ESOP charges) | 2,753 | 2,081 | 32.3% | 13,211 | 10,333 | 27.8% |
| Adjusted EBITDA Margin % (pre-INDAS 116 and pre-ESOP charges) | 8.8% | 8.2% | 10.2% | 9.6% | ||
| Adjusted PAT (pre-ESOP charges) | 1,759 | 1,281 | 37.3% | 8,766 | 6,761 | 29.7% |
| Adjusted PAT Margin % | 5.6% | 5.0% | 6.8% | 6.3% |
Key Operational Insights
Operationally, the company achieved significant expansion and deepened its market presence.- As of March 31, 2026, the company operated a total of 795 stores across 535 cities, covering a total retail area of approximately 13.45 million Sq. Ft.
- The category mix for FY26 contribution was structured with Apparel contributing 44.2%, General Merchandise contributing 28.5%, and FMCG contributing 27.0% of the revenue.
- The consumer base size stood at approximately 169 million large and loyal consumers as of March 31, 2026.
- Contribution from the company's own brands increased to 74.1% for FY26, up from 73.1% in FY25.
- The quick commerce initiative has expanded to 745 stores across 505 cities, registering a user base of 12.9 million as of March 31, 2026.
Management Commentary
Commenting on the results, Mr. Gunender Kapur, Managing Director and Chief Executive Officer, noted that FY26 demonstrated strong operational and financial performance.He attributed the revenue growth in Q4FY26 (22.2% YoY to ₹ 31,141 million) to an industry-leading adjusted SSSG of 13.2%. This success was driven by aspirational merchandise, the ability to meet diverse customer needs, and strong execution.
For FY26, the 20.4% YoY revenue growth was underpinned by an adjusted SSSG of 11%, reflecting the growing contribution of aspirational own brands and high-quality execution across all product categories.
The company’s expansion strategy remained strong, reporting 25 gross new store openings during the quarter and 105 during the full year.
Mr. Kapur further highlighted that PAT grew 45.9% for Q4FY26 (₹ 1,679 million) and 32.8% for the full year (₹ 8,392 million). This growth was attributed to improved cost efficiencies and benefits from operating leverage.
Vishal Mega Mart Limited stated it is well-positioned to participate in India's growing consumption story across both offline and digital commerce platforms.
VMM Stock Price Movement
As of 2:31 PM, shares of Vishal Mega Mart Limited are shedding 2.64% in live trading, currently priced at ₹116.35. The stock has seen considerable volume, with 25.65 million shares transacted during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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