AI-generated · cited to primary sources · not investment advice
V2 Retail (532867) Aug 2025 Filing Analysis
Does management do what it says?
Revenue for the full year FY26 grew by 63%, exceeding the 50% target, while SSSG for the year was 8.6%, within the guided range. (1 exceeded across 1 tracked commitment)
“So we look at a 50% revenue growth going forward and in that we look at 8% to 10% SSSG so that's from the old stores and 40% revenue growth from the newer stores.”
Current Sales Per Square Foot (PSF) per month is ₹948 for H1 FY26, showing progress but still below the long-term target of ₹1,200. (3 in progress across 3 tracked commitments)
“Even if we reach INR1,200 PSF at the national level old and new stores combined in the next 3 years, that would be amazing trajectory for the business.”
Management indicates that inventory turnover days remain stable compared to the previous year, despite the rapid pace of expansion. (1 in progress, 1 missed across 2 tracked commitments)
“So currently we keep about 10 to 12 days of sales cover at the store. We plan to bring it down to just 3 to 4 days except the display stock.”
See the full cited Management analysis of V2 Retail
Where does growth come from?
New stores are highly productive, generating Rs. 800 per sq ft from the first month, which is well above the Rs. 500 breakeven point, ensuring expansion is profit-accretive immediately. (1 steady, 1 accelerating across 2 signals)
“newer stores start from about INR800 as the old stores are doing INR1,100 and our breakeven point is at INR500 per square feet sale. So newer stores are breaking even from the first month of operations itself.”
See the full cited Future Growth analysis of V2 Retail
AI-generated informational research only. ThesisLoop is not investment advice, a stock recommendation, or a guarantee of returns.