Conference Call with Vishal Mega Mart Management and Analysts on Q4FY26 & Full Year Performance and Outlook. Listen to the full earnings transcript.
Department Stores company Vishal Mega Mart announced Q4FY26 & FY26 results Consolidated Financial Highlights: Revenue from operations for Q4FY26 was Rs 31,141.03 million, an increase of 22.22% YoY from Rs 25,478.94 million in Q4FY25 and a decrease of 15.16% QoQ from Rs 36,704.11 million in Q3FY26. Total income for Q4FY26 stood at Rs 31,386.18 million, registering a growth of 22.30% YoY compared to Rs 25,665.22 million and a decline of 15.06% QoQ from Rs 36,950.04 million in Q3FY26. Profit before tax (PBT) for Q4FY26 was Rs 2,252.96 million, reflecting a growth of 44.66% YoY as against Rs 1,557.36 million and a decrease of 46.28% QoQ compared to Rs 4,193.80 million in Q3FY26. Net profit for Q4FY26 reached Rs 1,679.19 million, marking a YoY increase of 45.87% from Rs 1,151.12 million and a QoQ decrease of 46.34% from Rs 3,129.23 million. For the full year FY26, Consolidated Revenue from operations was Rs 1,29,063.21 million, an increase of 20.43% from Rs 1,07,163.45 million in FY25. Annual consolidated Net profit for FY26 stood at Rs 8,392.27 million, growing 32.80% YoY compared to Rs 6,319.67 million in FY25. Earnings per equity share for Q4FY26 reached Rs 0.36 (Basic and Diluted) compared to Rs 0.25 in Q4FY25. For the full year FY26, basic earnings per share was Rs 1.80. Total comprehensive income for FY26 reached Rs 8,377.33 million compared to Rs 6,304.68 million in FY25. Standalone Financial Highlights: Revenue from operations for Q4FY26 was Rs 16,454.06 million, reflecting a YoY growth of 12.04% from Rs 14,686.54 million and a QoQ growth of 4.77% from Rs 15,704.27 million in Q3FY26. Total income for the quarter stood at Rs 16,652.71 million, an increase of 12.41% YoY from Rs 14,814.14 million and an increase of 4.72% QoQ from Rs 15,901.39 million. Profit before tax for Q4FY26 was Rs 2,232.81 million, showing a growth of 55.13% YoY compared to Rs 1,439.37 million and a decrease of 7.77% QoQ from Rs 2,420.96 million in Q3FY26. Net profit for the quarter ended March 31, 2026, reached Rs 1,665.17 million, representing a 55.22% increase YoY from Rs 1,072.75 million and a decrease of 8.25% QoQ from Rs 1,814.97 million. For the full year FY26, Standalone Revenue from operations was Rs 66,313.84 million, an increase of 11.51% compared to Rs 59,466.04 million in FY25. Annual standalone Net profit for FY26 reached Rs 6,560.84 million, growing 38.83% YoY over Rs 4,725.74 million in FY25. Business Highlights: Segment Performance: Based on the “management approach” as defined in Ind AS 108 – Operating Segments, the Chief Operating Decision Maker ('CODM') does the evaluation of the Holding Company’s performance at an overall level as one segment. Audit Opinion: The Statutory Auditors have issued Audit Reports with an unmodified opinion on the Audited Financial Results (Standalone & Consolidated) for the financial year ended March 31, 2026. Labour Codes Assessment: The Group has assessed the incremental impact of changes related to new Labour Codes (Code on Wages, 2019; Industrial Relations Code, 2020; Code on Social Security, 2020; and Occupational Safety, Health and Working Conditions Code, 2020). The impact is considered not material and has been accounted for all employees in the consolidated financial results for FY26. Gunender Kapur, Managing Director & Chief Executive Officer, said: “FY26 marks another remarkable year in our journey, delivering strong operational and financial performance. Underscored by the strength of our unique strategy and our commitment to making aspirations affordable, our revenue from operations grew by 22.2% YoY in Q4FY26 to Rs 31,141 million. This was driven by an industry-leading SSSG (adjusted) of 13.2% which is mainly an outcome of aspirational merchandise, ability to cater to diverse and evolving customer needs and great execution. For FY26, our revenue from operations grew by 20.4% YoY to Rs. 129,063 million, driven by adjusted SSSG of 11%. The performance reflects growing contribution of our aspirational own brands and high quality execution across the board. Further, growth remained broad-based across all product categories. Our expansion strategy remained firmly on track with gross new store openings of 25 during the quarter and 105 during the full year, further strengthening our network and market presence. PAT for Q4FY26 grew at 45.9% to Rs 1,679 million and on full year basis it grew at 32.8% to Rs. 8,392 million, driven by improved cost efficiencies and the benefits of operating leverage, reflecting our continued focus on disciplined execution and scale-driven productivity. We look ahead at FY27 with excitement. We wish to be a strong contributor to India’s growing consumption story. India’s emerging retail landscape offers exciting and evolving opportunities across offline and digital commerce. With our extensive network and strong fundamentals, we are well-positioned to participate in these. We are closely monitoring the macro environment and evolving geopolitical developments and are navigating with agility.” Result PDF