V2 Retail Share Price: Profit double, **35** naye stores khule! Lekin Same-Store Sales growth sirf **2%**? Kya hai asli sach?

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AuthorKavya Nair|Published at:
V2 Retail Share Price: Profit double, **35** naye stores khule! Lekin Same-Store Sales growth sirf **2%**? Kya hai asli sach?
Overview

Okay bhai log, V2 Retail ne latest Q3 FY26 results mein dhamaka kar diya! Net profit lagbhag double ho gaya, matlab **99.3%** jump maarke **₹102.06 Crore** tak pahunch gaya. Revenue bhi **57.2%** badh kar **₹929.2 Crore** ho gaya. Company ne poore **35** naye stores bhi khule hain, mostly Tier 2 aur Tier 3 cities mein. Par ek baat thodi confusing hai - same-store sales growth sirf **2%** raha.

Aage kya hua? Asli story toh ab shuru hogi!

So, V2 Retail ne Q3 FY26 ke liye jo numbers diye hain, wo kaafi zabardast lag rahe hain. Company ne 99.3% ka profit jump dikhaya, jo ki ₹102.06 Crore bana aur revenue 57.2% badh kar ₹929.2 Crore ho gaya. EBITDA bhi 55.8% upar jaakar ₹173.68 Crore ho gaya, aur achi baat ye hai ki margins almost same, yani 18.69% pe stable rahe. Iska matlab hai ki operational scaling control mein hai.

Lekin ruk jaao, yahan ek twist hai! Jis expansion ki baat ho rahi hai, uske liye company ne 35 naye stores khule hain, aur ye mostly Tier 2 aur Tier 3 cities mein hain. Yeh toh achha hai, kyunki abhi in cities mein consumption badh raha hai. Lekin jo existing stores hain unki sales growth, jisko Same-Store Sales Growth (SSG) bolte hain, woh sirf 2% rahi. Pichhle saal Q3 mein toh company ka profit 118% jump hua tha, toh yeh SSG thoda kam lag raha hai jab itne naye stores khule hain.

Valuation aur Competition ka Scene

Ab is stock ka valuation dekhte hain. Yeh TTM P/E ratio lagbhag 66.5x se 80x ke beech mein chal raha hai, aur market cap around ₹7,731 Crore hai. Yeh numbers kuch bade players ke comparison mein thode high lag sakte hain. Jaise Trent Ltd. ka P/E 83.42x hai, lekin unka market cap ₹135,000 Crore se bhi zyada hai. Reliance Retail toh bhai ek alag hi level pe hai, uska Q3 FY26 revenue ₹97,605 Crore tha aur EBITDA margin sirf 8% tha.

Indian apparel market toh bhai 2030 tak ₹16 lakh Crore ka hone wala hai, aur organized retail mein toh tezi se growth ho rahi hai. Trent ka Zudio brand bhi 48 naye stores Q3 mein hi khol gaya, jabki V2 Retail ne 35 khule. Toh bhai, Tier 2 aur Tier 3 cities mein store kholne ki race kaafi tez hai. Is wajah se sabhi retailers ko apna SSG maintain karna mushkil ho raha hai. Industry mein competition, badhte kiraye aur margin pressure toh rehta hi hai.

Analysts kya bol rahe hain?

Bhale hi SSG thoda kam ho, analysts is stock ko lekar kaafi confident hain. Kai log isko "Strong Buy" bol rahe hain aur average 12-month target price ₹2,293 de rahe hain. Unko lagta hai ki company apne expansion goals ko achhe se manage karegi aur aage bhi grow karegi. Tier 2/3 cities pe focus karna sahi strategy hai. Lekin ab yeh dekhna hoga ki company apne naye stores se kitna kama paati hai aur purane stores ki sales kaise badhati hai.

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