Earnings Review
Vishal Mega Mart Q4 consol PAT up 46%; misses street view
This story was originally published at 14:53 IST on 14 May 2026
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--Vishal Mega Mart Jan-Mar consol net profit INR 1.68 bln
--Analysts saw Vishal Mega Mart Jan-Mar consol net profit at INR 1.75 bln
--Vishal Mega Mart Jan-Mar consol revenue INR 31.14 bln
--Analysts saw Vishal Mega Mart Jan-Mar consol revenue at INR 30.32 bln
--Vishal Mega Mart Jan-Mar consol PAT INR 1.68 bln vs INR 1.15 bln yr ago
--Vishal Mega Mart FY26 consol PAT INR 8.39 bln vs INR 6.32 bln yr ago
--Vishal Mega Mart Q4 consol revenue INR 31.14 bln vs INR 25.48 bln yr ago
--Vishal Mega Mart FY26 consol revenue INR 129.06 bln vs INR 107.16 bln
--Vishal Mega Q4 consol reported EBITDA INR 4.25 bln vs INR 3.57 bln yr ago
--Vishal Mega Mart Q4 consol EBITDA margin 13.6% vs 14.0% year ago
--Vishal Mega Mart Q4 consol gross profit margin 27.8% vs 28.3% year ago
--Vishal Mega Mart Q4 reported same store sales growth at 12.1%
--Vishal Mega Mart Q4 adjusted same store sales growth at 13.2%
--Vishal Mega Mart net added 24 stores in Jan-Mar; total store count at 795
--Vishal Mega Mart shrs fall more; Jan-Mar consol PAT tad below expectations
--Vishal Mega Mart shrs fall more to INR 113.19, dn 5.3% now vs 2.2% earlier
By Gunjan Rajput
NEW DELHI – Vishal Mega Mart reported a sharp on-year rise in consolidated net profit for the March quarter, supported by strong revenue growth, though profit missed analysts' expectations. The March quarter marks a recovery in earnings growth after the company had reported a decline in consolidated net profit and revenue in the December quarter.
The retailer posted a consolidated net profit of INR 1.68 billion, up nearly 46% on year but lower than analysts' estimate of INR 1.75 billion. The consolidated revenue from operations rose over 22% to INR 31.14 billion from INR 25.48 billion a year ago, above analysts' expectation of INR 30.32 billion.
For the reporting quarter, the company's total expenses rose nearly 21% on year to INR 29.13 billion. Other expenses rose nearly 30% on year to INR 2.53 billion. Expenditure related to purchases of stock-in-trade rose nearly 15% on year to INR 24.56 billion, and employee benefit expenses rose nearly 13% to INR 1.89 billion.
The company's earnings before interest, tax, depreciation, and amortisation for the quarter were INR 4.25 billion, up nearly 19% on year from INR 3.57 billion reported a year ago. The company's consolidated EBITDA margin for the quarter contracted to 13.6% from 14.0% in the same quarter a year ago. The retailer's gross profit margin also contracted to 27.8% from 28.3% in the same quarter a year ago.
Vishal Mega Mart reported same-store sales growth of 12.1% in the March quarter, while adjusted same-store sales growth stood at 13.2%. The retailer added 24 net new stores during the quarter, taking its total store count to 795 as of Mar. 31. For the financial year 2025-26 (Apr-Mar), apparel remained the largest contributor to revenue at 44.2%, followed by general merchandise at 28.5% and fast-moving consumer goods at 27.0%. The company's own brands contributed 74.1% to revenue in FY26 compared with 73.1% in the previous year. As of Mar. 31, the retailer had around 169 million customers. Its quick commerce initiative was available across 745 stores in 505 cities, with a registered user base of 12.9 million.
After the company announced its quarterly results, its shares fell 5.3% to INR 113.19 on the National Stock Exchange. At 1410, shares of the company traded at INR 117.70 on the National Stock Exchange, down 1.5%. End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Gunjan Rajput
Edited by Akul Nishant Akhoury
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