How fast did V2 Retail grow in Q4?

Revenue rose 60% year-on-year to ₹797 crore. Full-year EBITDA jumped 77% to ₹455 crore.

What is the store-opening target for this year?

The company plans 170-200 new stores in FY27, ending the prior year with 325 locations.

What is the same-store sales target?

Management is guiding for 8% to 10% same-store sales growth, with gross margins in the 28% to 30% range.

How did management characterise recent demand?

They flagged a mild slowdown in May demand, which they linked to geopolitical tensions. The comment is notable because it is the first headwind mentioned in an otherwise strong update.

How quickly do new stores become profitable?

New stores start at ₹750 per square foot in sales and take three to four years to mature to the company average of over ₹1,100 per square foot.

Earnings · Retailing · Mid cap

V2 Retail puts 170-200 stores on the map for FY27

A 60% Q4 revenue jump and a 50% two-year growth target frame an aggressive plan. A May demand slowdown is the first headwind to watch.

— 1 earlier story on V2 Retail Ltd. →

V2RETAIL By Tipsheet Editorial 2 Jun 2026 · 9:10 AM IST Verify on BSE · NSE

Mkt cap₹8,957 cr

P/E55.27×

ROE20.80%

Debt / eq.0.33

₹797 cr / quarter Q4 revenue, up 60% year-on-year.

What's new

Q4 revenue rose 60% to ₹797 cr; full-year EBITDA climbed 77% to ₹455 cr.
FY27 plan: 170-200 new stores, on top of 325 at the end of FY26.
Management cited a mild May demand slowdown linked to geopolitical tensions.

Why this matters

The retailer is pressing the accelerator at a time when many are tapping the brakes. New stores are hitting ₹750 per square foot from day one, giving the company a runway to sustain 50% top-line growth. The May soft patch is the first real test of that expansion thesis.

What we're watching

Whether the May slowdown extends into the June quarter.
Execution against the 170-200 store target.
How raw-material cost inflation affects the 28-30% gross-margin band.

The full read

V2 Retail's Q4 was strong. Revenue hit ₹797 crore, up 60%. Full-year EBITDA reached ₹455 crore, a 77% jump. The company ended FY26 with 325 stores and now plans to open 170-200 more this year. Management is sticking to its 50% two-year revenue target. New stores are hitting ₹750 per square foot immediately. The plan is aggressive, but the first warning light has appeared: management cited a mild May demand slowdown linked to geopolitical tensions. The open question is whether that softness persists and how V2's pricing power holds as it passes raw-material costs to customers.

Questions answered

How fast did V2 Retail grow in Q4?: Revenue rose 60% year-on-year to ₹797 crore. Full-year EBITDA jumped 77% to ₹455 crore.
What is the store-opening target for this year?: The company plans 170-200 new stores in FY27, ending the prior year with 325 locations.
What is the same-store sales target?: Management is guiding for 8% to 10% same-store sales growth, with gross margins in the 28% to 30% range.
How did management characterise recent demand?: They flagged a mild slowdown in May demand, which they linked to geopolitical tensions. The comment is notable because it is the first headwind mentioned in an otherwise strong update.
How quickly do new stores become profitable?: New stores start at ₹750 per square foot in sales and take three to four years to mature to the company average of over ₹1,100 per square foot.

Mentioned: V2 Retail · 170-200 stores · 50% revenue target

Primary source BSE · NSE · Tijori

An independent reading of the company's own disclosure — the primary filing above is the final word.

Story so far

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2 Jun 2026 · 9:10 AM IST V2 Retail puts 170-200 stores on the map for FY27
5d ago V2 Retail's new stores take a year longer to mature