Vishal Mega Mart reported a 14% year‑on‑year rise in revenue for the quarter ended September 2026, reaching ₹3,398 crore compared with ₹2,981 crore in the same period last year. The apparel segment’s share of total revenue fell from 42.2% to 40.6%, while general merchandise and FMCG segments grew to 29.6% and 29.7% respectively. Despite the revenue uptick, the company’s shares fell nearly 6% on the NSE, hitting a 52‑week low of ₹86 per share on Wednesday.

Operating EBITDA increased 3.7% year‑on‑year to ₹262 crore from ₹252.9 crore in the same quarter last year, yet the operating EBITDA margin fell by 80 basis points to 7.7% versus 8.5% in September 2025. Net profit also rose 3.7% to ₹157.9 crore, with a profit margin of 5.1% from 5.4% in the prior year‑same quarter. Same‑store sales grew 5.4%, impacted by the shift of the festive season from Q2 to Q3.

During the quarter, Vishal Mega Mart opened 26 new outlets, bringing the total store count to 844 as of Q2FY27. This expansion accompanies the company’s focus on strengthening its own‑brand offerings and maintaining a customer‑first approach, as highlighted by CEO Gunender Kapur. Pat for the first half of FY27 grew 16.3% to ₹416.6 crore, achieved despite lower fixed‑cost absorption due to the shift in festive buying to Q3 and inflationary pressures during the quarter, as well as an uneven monsoon.

The market reaction was muted, with shares falling nearly 6% to a 52‑week low of ₹86 on the NSE. Investor sentiment was dampened by margin contraction, as the operating EBITDA and profit margins slipped, signalling a cautious outlook despite resilient revenue growth. The apparel segment’s contribution fell to 40.6% of revenue, while general merchandise and FMCG segments grew to 29.6% and 29.7% respectively, reflecting a shift during the consumer mix in the overall.

CEO Gunender Kapur highlighted that the quarter was strong, driven by own‑brand offerings, a customer‑first approach and disciplined execution. He noted that demand conditions remained steady despite renewed inflationary pressures across key raw material categories and an uneven monsoon. The company’s focus on expanding its store network and maintaining margin discipline will be key as it navigates the shifting festive calendar and cost pressures. Net profit rose 3.7% to ₹157.9 crore, with a profit margin of 5.1%, while 26 new stores were added, bringing the total to 844.