MarketFriction

V2 Retail Ltd

NSE V2RETAIL · BSE 532867 · Speciality Retail
₹201.39 -3.52%
NSE close2026-10-01
52 week range172.03 - 259.25
Market cap₹7,637 Cr.
P/E46.6
Microcap 250 Price band 20% Delivery 59.4%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales231374296415380591499630705927798997
Expenses213313266362349480441539619750685858
Operating Profit1961305331111579086177113140
OPM %8%16%10%13%8%19%11%14%12%19%14%14%
Other Income2311201102601
Interest121112131518212228222425
Depreciation172018202226273237456764
Profit before tax-832021-3681037211352252
Tax %-33%25%-1,073%25%-21%25%36%25%14%27%18%19%
Net Profit-624416-35172818991842
EPS in Rs-0.160.700.110.46-0.071.470.190.800.522.720.501.15
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales3344725597487015386298391,1651,8843,0603,428
Expenses3024295066996234875667591,0211,6302,5852,913
Operating Profit3243544979506380144254475515
OPM %10%9%10%7%11%9%10%10%12%13%16%15%
Other Income6253-171522166752127
Interest14103332323841476810099
Depreciation46814505457647395181213
Profit before tax2052461510-13-16-193197216230
Tax %40%24%32%-36%3%-16%-21%-23%11%27%24%
Net Profit1239312010-11-13-142771163177
EPS in Rs0.491.260.920.600.30-0.32-0.38-0.420.792.054.484.89
Dividend Payout %0%0%0%0%0%0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth25%42%54%63%
Compounded Profit Growth31%73%130%98%
Stock Price CAGR33%70%133%1%
Return on Equity10%13%21%24%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital242531343434343434353536
Reserves251271127240261246238226213240310866
Borrowings69989011311388384410502861995
Other Liabilities615573115158116133128108189372525
Total Liabilities4054492403894647077937727659661,5772,422
Fixed Assets18295163100330382375389449842968
CWIP1447445000436
Investments302509001515151515155
Other Assets3553911852313603593913823615027161,412
Total Assets4054492403894647077937727659661,5772,422
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity36-15-127-4894-15618085191-96
Cash from Investing Activity-6-9-12-11041-5-16-12-9-29-128-231
Cash from Financing Activity-3026168111-37-14-59-75-52-62325
Net Cash Flow-123-1452-45-9-441-2
Free Cash Flow29-32-135-9987-3850705763-328
CFO/OP125%-47%-1%51%-101%120%-30%96%98%59%85%-9%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days000007010000
Inventory Days141177126154195142255221151155140195
Days Payable60617197100751139357698579
Cash Conversion Cycle8111654589573143130948756116
Working Capital Days-27-2842567739756750431947
ROCE %8%8%14%21%13%7%3%3%3%11%17%20%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters54.26%54.28%54.28%54.30%54.30%54.30%54.24%54.22%54.22%51.43%51.43%51.43%
FIIs6.36%6.36%6.57%6.69%0.80%0.91%1.31%1.90%2.10%3.01%2.62%3.11%
DIIs0.37%0.37%0.36%0.43%4.34%5.98%6.70%7.35%7.12%9.12%9.28%10.65%
Public39.01%38.99%38.80%38.60%40.57%38.82%37.75%36.53%36.56%36.45%36.67%34.82%
No. of Shareholders17,32416,16616,24416,86224,10126,87735,12537,44639,93842,86945,02552,967

Fundamentals

Market Cap₹ 7,637 Cr.
Current Price₹ 209
Stock P/E46.6
Book Value₹ 24.8
ROCE19.5 %
ROE23.7 %
Dividend Yield0.00 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)63%
Compounded Profit Growth (TTM)98%
Standalone figures.
Valuation
Market capRs 7,343 Cr
Enterprise valueRs 8,332 Cr
P/E (TTM)41.37x
Price to book8.14x
Price to sales2.14x
EV / EBITDA15.36x
EV / EBIT25.34x
EV / sales2.43x
Earnings yield2.42%
P/E, 3-year average18.65x
P/B, 3-year average3.30x
P/E, 5-year average18.65x
P/B, 5-year average2.04x
Profitability
Operating margin (excl. other income)15.54%
Operating margin (incl. other income)16.23%
EBITDA margin15.82%
Pre-tax margin6.71%
Net profit margin5.18%
Net margin, latest quarter4.20%
ROE26.19%
ROCE20.34%
ROA8.17%
ROE, 3-year average19.85%
ROCE, 3-year average15.95%
ROA, 3-year average5.63%
ROE, 5-year average9.80%
ROCE, 5-year average10.94%
ROA, 5-year average2.67%
ROIC (approx.)13.18%
Tax rate24.23%
Other income / net worth2.35%
Growth
Sales growth (latest year)62.38%
Profit growth (latest year)130.38%
Sales CAGR, 3 years53.94%
Sales CAGR, 5 years41.60%
Sales growth QoQ24.94%
Profit growth QoQ130.35%
Sales growth YoY (latest quarter)58.36%
Profit growth YoY (latest quarter)50.99%
Per share
EPS (TTM)Rs 4.87
EPS (latest year)Rs 4.48
EPS (latest quarter)Rs 1.15
EPS, 3-year averageRs 10.96
EPS, 5-year averageRs 4.98
Book value per shareRs 24.75
Sales per shareRs 94.00
Cash flow per shareRs -2.64
Free cash flow per shareRs -9.00
Efficiency
Asset turnover1.26x
Fixed asset turnover3.16x
Inventory turnover2.01x
Inventory days182 days
Creditor days79 days
Cash conversion cycle116 days
Working capital days47 days
Leverage
Total debtRs 995 Cr
Cash and bankRs 6 Cr
Net debtRs 988 Cr
Debt to equity1.10x
Net debt / EBITDA1.82x
Interest coverage3.33x
Current ratio (filing 2026-03-31)1.44x
Quick ratio (filing 2026-03-31)0.19x
Trade payables (filing 2026-03-31)Rs 463 Cr
Owners' fund to total sources37.26%
Debt to assets41.07%
Cash flow
Cash from Operating Activity (latest year)Rs -96 Cr
Cash from Investing Activity (latest year)Rs -231 Cr
Cash from Financing Activity (latest year)Rs 325 Cr
Net Cash Flow (latest year)Rs -2 Cr
Free cash flow (latest year)Rs -328 Cr
FCFE (approx.: FCF + change in debt)Rs -194 Cr
Cash from ops / profit, 5 years1.37x
Statement figures
Net sales (TTM)Rs 3,428 Cr
Net sales (latest year)Rs 3,060 Cr
Sales (latest quarter)Rs 997 Cr
Operating profit excl. other income (latest year)Rs 475 Cr
Operating profit (latest quarter)Rs 140 Cr
Other income (TTM)Rs 27 Cr
EBITDA (TTM)Rs 542 Cr
PBDT (TTM)Rs 443 Cr
Profit before tax (TTM)Rs 230 Cr
Tax (latest year)Rs 52 Cr
Net profit (TTM)Rs 177 Cr
Net profit (latest year)Rs 163 Cr
Net profit (latest quarter)Rs 42 Cr
Depreciation (TTM)Rs 213 Cr
Depreciation (latest quarter)Rs 64 Cr
Interest (TTM)Rs 99 Cr
Cost of goods sold (latest year)Rs 2,290 Cr
Total expenditure (latest year)Rs 2,585 Cr
Total income (latest year)Rs 3,081 Cr
Share capitalRs 36 Cr
ReservesRs 866 Cr
Shareholders' fundsRs 902 Cr
Total assetsRs 2,422 Cr
Net blockRs 968 Cr
Capital work in progressRs 36 Cr
InvestmentsRs 5 Cr
InventoryRs 1,140 Cr
Other liabilitiesRs 525 Cr
Shares outstanding (crore)36.46
Ownership
Promoter holding51.43% (-2.79 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 41.4 is at the 51th percentile of its own 6.4-year range (median 41.1, low 9.2, high 248.3).
P/B 8.14 is at the 65th percentile (median 3.39).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodV2RETAILNifty 50Difference
1 week-6.1%-2.8% -3.3 pts
1 month-9.0%-6.8% -2.2 pts
3 months-12.6%-7.6% -5.0 pts
6 months+6.5%+0.4% +6.1 pts
1 year+4.4%-9.9% +14.3 pts
2 years+64.6%-13.6% +78.1 pts
3 years+1113.2%+14.2% +1099.0 pts
5 years+1259.8%+27.9% +1231.9 pts
20 mutual fund schemes hold about ₹1,116 Cr. Over three months 10 bought more and 5 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Motilal Oswal Large & Midcap Fund1.72%347 +2%
Motilal Oswal Large & Midcap Fund1.72%318 +2%
Motilal Oswal Small Cap Fund1.71%139 -1%
Bandhan Small Cap Fund0.38%129 +34%
Bandhan Focused Fund3.23%67 +21%
Helios Flexi Cap Fund0.43%38 +78%
Motilal Oswal Consumption Fund2.90%34 -17%
Helios Mid Cap Fund0.76%17 +157%
Helios Small Cap Fund0.84%12 +1%
Motilal Oswal Nifty Microcap 250 Index Fund0.41%10 +5%
Motilal Oswal Special Opportunities Fund2.52%2 -5%
The Wealth Company Multi Asset Allocation Fund0.77%2 +100%
Groww Nifty Total Market Index Fund0.02%0 +9%
Angel One Nifty Total Market Index Fund0.02%0 +8%
Mirae Asset Nifty Total Market Index Fund0.02%0 +9%
Bandhan Nifty Total Market Index Fund0.02%0 +9%
Motilal Oswal BSE 1000 Index Fund0.02%0 +8%
Edelweiss Aggressive Hybrid Fund0.00%0 -100%
Bank of India Business Cycle Fund0.00%0 -100%
Bandhan Large & Mid Cap Fund0.00%0 -100%

Red flags

F-score 5 of 8
explainHigh accruals Profit exceeded operating cash by 11% of total assets in 2026
lookInventory outrunning sales Inventory grew 117% vs sales +62% in 2026
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹997 Cr +58.3% vs Jun 2025. Net profit ₹42 Cr +50.0%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-03-25Face Value Split (Sub-Division) - From Rs 10/- Per Share To Re 1/- Per Share0.1000
2024-09-20Annual General Meeting
2023-09-22Annual General Meeting
2022-09-22Annual General Meeting
2021-09-20 Annual General Meeting
2020-09-18 Annual General Meeting
2019-08-29 Annual General Meeting
2018-09-19 Annual General Meeting
2017-09-21 Annual General Meeting
2016-09-20 Annual General Meeting
2015-09-18 Annual General Meeting
2014-09-19Annual General Meeting
2013-09-19Annual General Meeting
2012-09-20Annual General Meeting
2011-09-22Annual General Meeting
2010-10-21Annual General Meeting
2009-09-17Annual General Meeting
2008-09-01Annual General Meeting
2007-09-13Agm
DateTypeWhat it says
2026-10-02General UpdatesGeneral Updates regarding Q2 FY27 Business UpdateNetwork Expansion Continues Ahead of the Festive Quarter
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of V2 Retail Ltd?

V2 Retail Ltd (V2RETAIL) has a market capitalisation of Rs 7,637 Cr. at the 2026-10-01 close.

What is the P/E ratio of V2 Retail Ltd?

V2 Retail Ltd trades at a P/E of 46.6 on trailing twelve-month profit, at the 2026-10-01 close.

What were V2 Retail Ltd's latest quarterly results?

In the Jun 2026 quarter, V2 Retail Ltd sales was Rs 997 Cr (+58.3% vs Jun 2025) and net profit was Rs 42 Cr.

What is the 52-week high and low of V2 Retail Ltd?

The 52-week high is Rs 259.25 and the 52-week low is Rs 172.03.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03