Summary:
Vishal Mega Mart reported Q2FY27 revenue from operations of ₹3,398.5 crore, up 14% year-on-year, while EBITDA rose 4.4% to ₹412 crore. Same-store sales grew 5.4%, and shares touched a 52-week low amid margin pressure and concerns over growth.
Shares of Vishal Mega Mart Limited fell more than 7% in two trading sessions after the company posted disappointing Q2FY27 results. On Thursday, October 22, 2026, the stock hit a fresh 52-week low of ₹86.63, as sentiment was hurt by slower same-store sales growth and shrinking margins. Revenue grew 14% year over year, but that was not enough to drive operating profit growth.
Vishal Mega Mart Q2FY27 Results: Revenue Up 14%
The consolidated revenue for the quarter ended September 2026 for Vishal Mega Mart was ₹3,727 crore, a YoY growth of around 14%.
Consolidated EBITDA, however, grew only 4.4% YoY to ₹412 crore. Sales grew but profitability was capped by higher employee costs and gross margin pressure.
Sales at existing outlets rose 5.4%, a modest figure, the company said.
The revenue growth was primarily driven by new store openings and not by a sudden sales rebound from existing stores.
| Operational Metric | Q2FY27 |
| Revenue | ₹3,727 crore |
| Revenue growth | +14% YoY |
| EBITDA | ₹412 crore |
| EBITDA growth | +4.4% YoY |
| Same-store sales growth | 5.4% |
| New stores added | 26 |
Vishal Mega Mart Share Price Fall Reason
Vishal Mega Mart shares fell 4.70% on October 21 and another 2.23% on October 22.
The stock touched its 52-week low of ₹86.63 and closed at ₹87.99 on Thursday. It has lost about 34% of its value during 2026.
The selling pressure came after three developments, namely, slower same-store sales growth, lower gross margins and higher operating expenses.
Gross margin declined 32 basis points YoY impacted by inflation and lower contribution from higher margin apparel products.
The company maintained prices for its entry-level merchandise while selectively increasing prices in the mid-priced and premium merchandise segments.
Fears about future sales of stakes by promoters have also stayed on the scene after an earlier cut in ownership in February.
Store Expansion, Holiday Demand Remain Key
Vishal Mega Mart has opened 26 stores in Q2FY27, taking its total network to 844 stores across 582 cities. The company plans to open more than 100 stores in FY27 as it expands into smaller cities and underserved retail markets.
The company also launched Belong & Co., a premium apparel retail format targeting younger urban consumers. The initial rollout remains limited and further expansion will depend on the performance of pilot stores.
Festive demand would be crucial in Q3FY’27. The festival calendar's 18-day delay means some of the seasonal shopping period has been shifted from the September quarter into the December quarter.
The company has reported same-store sales growth of 7.7% in H1FY27 against its ambition of double-digit growth for the full year.
The Road Ahead for Vishal Mega Mart
The December quarter will give a better indication if festive demand can save the weakness seen in Q2FY27.
Investors will focus on same-store sales growth, gross margins, operating expenses and new store performance.
The latest results show that as the retailer continues to expand its network, higher sales are not always matched by similar profit growth.
In the coming quarters, Vishal Mega Mart is expected to see a recovery in margins along with a jump in sales from existing stores, which will be vital for the company’s financial performance.
