Vishal Mega Mart Q2FY27 Revenue Rises 14% to Rs 3,398.5 Crore

Vishal Mega Mart’s Q2FY27 revenue reached Rs 3,398.5 crore, while adjusted PAT stood at Rs 172 crore.

Reader Takeaway: Revenue growth remains strong at 14%, but EBITDA margins faced pressure due to a festive calendar shift.

What just happened

Vishal Mega Mart reported consolidated revenue of Rs 3,398.5 crore for the second quarter, marking a 14% growth compared to the same period last year. Adjusted PAT (pre-ESOP) reached Rs 172 crore, a 6.4% improvement. The company added 25 net stores during the quarter, bringing its total footprint to 844 stores across 582 cities.

Why this matters

The results were impacted by an 18-day calendar shift, which moved major festive demand (Durga Puja and Dussehra) from Q2 into Q3. Management estimated this shift caused a 3-4% drag on Same Store Sales Growth (SSSG), which officially stood at 5.4%. Excluding this impact, adjusted SSSG would have been approximately 9%.

Strategic Developments

Vishal Mega Mart has launched a pilot store for 'Belong & Co.', a new format targeting the affluent urban demographic, signaling a move beyond its core value-retail segment. Additionally, its quick commerce initiative has scaled to 781 stores with 1.5 crore registered users, highlighting the company’s push into rapid delivery models.

Risks to watch

EBITDA margins saw a decline to 7.7% from 8.5% in the previous year's corresponding quarter. This was primarily driven by operating deleverage—fixed costs remained constant while the timing shift in festivals dampened the expected Q2 sales volume. Management is also tracking broader inflationary pressures and geopolitical risks that could affect raw material costs.

Context metrics

For the half-year (H1FY27), the company recorded a 16.4% revenue increase to Rs 7,125.5 crore and a 15.8% rise in adjusted PAT to Rs 436.7 crore. Own-brand products continue to be a core pillar, contributing 73.9% of total revenue during the half-year period.