Small Retail

V2 Retail Ltd.

V2RETAIL

₹1820.8

-1.16% (-21.3)

Market Cap

₹6,260 Cr.

P/E

88.30

V2 Retail Ltd.

Price
Growth Table
Balance Sheet
Profit & Loss
Cash Flow
Cash Flow Analysis
Ratios
Quarterly Results
Reverse DCF

FAQs on V2 Retail Ltd. Shareprice

Has the share price of V2 Retail grown faster than its competition?

V2 Retail has given better returns compared to its competitors.
V2 Retail has grown at ~319.43% over the last 2yrs while peers have grown at a median rate of 24.64%

Is V2 Retail stock expensive?

Yes, V2 Retail is expensive.
Latest PE of V2 Retail is 88.3, while 3 year average PE is 53.98.
Also latest EV/EBITDA of V2 Retail is 24.69 while 3yr average is 11.64.

View FAQ's On Business

Growth Table

V2 Retail Ltd.
Arvind Fashions
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V-Mart Retail
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In %	1yr	2yr	3yr	4yr	5yr	6yr	7yr	8yr	9yr	10yr
Share Price CAGR	242	319	152	92.94	97.56	41.31	23.92	29.24	48.06	47.58
TTM EPS CAGR	158	—	—	—	46.79	23.15	11.46	5.02	17.00	16.83
Sales CAGR	61.80	49.88	44.14	36.76	12.32	16.64	18.97	18.91	21.78	20.72
PAT Margin (Abs Growth)	3.92	4.24	4.77	1.14	-0.35	-3.17	-5.88	-1.26	-0.88	4.28
PE CAGR	32.39	—	—	—	34.59	14.75	11.18	23.06	26.55	26.32
CFO CAGR	8.18	26.25	203	5.96	—	22.78	—	—	11.55	23.00

* Share price and PE growth are updated everyday. All other fields are as of latest financial year end. EPS adjusted for bonus and splits.

Balance Sheet

V2 Retail Ltd.
Arvind Fashions
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V-Mart Retail
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In Rs. Cr.	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Assets	699	789	765	761	999	1,628
Non Current Assets	413	452	449	467	541	942
Net Block	339	395	394	408	480	211
Capital Work in Progress	4.11	4.62	0.00	0.41	0.23	4.15
Intangible Assets Under Development	4.11	4.62	—	0.30	—	—
Long Term Investments	—	—	—	—	—	—
Current Assets	308	361	343	326	486	686
Inventory	215	302	291	279	419	558
Accounts Receivable	0.01	0.66	1.32	0.07	0.06	0.10
Short Term Investments	—	—	—	—	—	—
Cash & Bank Balances	67.53	22.60	7.40	5.14	9.89	9.40
Liabilities	699	789	765	761	999	1,628
Shareholders Funds	279	269	258	247	275	346
Share Capital	34.10	34.10	34.39	34.39	34.59	34.59
Reserves	244	231	223	210	240	312
Non Current Liabilities	257	288	291	310	384	724
Secured Loans	4.94	0.12	—	—	8.70	—
Unsecured Loans	—	—	5.61	7.22	8.60	18.92
Current Liabilities	163	232	215	204	340	558
Accounts Payable	103	131	120	106	194	369
Short Term Loans	27.59	49.75	48.82	46.48	72.73	96.66

Balance Sheet Snapshot

No data available.

Fund Flow Analysis

Increase
Decrease
Total

No data available.

*Data is as of latest FY end

Profit & Loss

V2 Retail Ltd.
Arvind Fashions
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V-Mart Retail
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In Rs. Cr.	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Sales	701	539	629	839	1,165	1,884
Operating Expenses	624	489	562	753	1,016	1,627
Raw Material	449	436	394	535	896	98.96
Material Cost (%)	72.02	66.44	63.95	65.97	65.83	-2.51
Employee Cost	62.93	50.68	63.00	88.61	105	159
Power & Fuel Cost	19.90	14.83	20.72	26.63	30.59	—
Operating Profit	77.42	49.92	67.02	85.45	148	258
Other Income	2.48	22.97	15.89	6.67	8.30	6.96
OPM (%)	11.04	9.27	10.65	10.19	12.74	13.68
Depreciation and Amortisation	50.98	55.51	58.83	67.05	76.71	98.65
Interest	32.79	32.67	38.94	42.02	48.54	67.91
Profit Before Tax	8.67	-15.29	-14.86	-16.95	31.37	98.22
Tax	-0.11	-2.45	-3.18	-4.14	3.56	26.19
Net Profit	8.78	-12.84	-11.68	-12.82	27.81	72.03
Number of shares(Crs)	3.41	3.41	3.44	3.44	3.46	—
Dividend Payout Ratio(%)	0.00	0.00	0.00	0.00	0.00	—

TTM Values as of Mar 2025

Cash Flow

V2 Retail Ltd.
Arvind Fashions
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V-Mart Retail
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In Rs. Cr.	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash from Operating Activity	74.10	3.37	58.61	86.36	93.42	223
Profit Before Tax	8.67	-15.29	-14.86	-16.95	31.37	98.22
Adjustments	67.15	79.43	89.74	112	136	157
OCF Before Working Capital	75.82	64.14	74.88	94.72	168	256
Working Capital Changes	-1.43	-60.50	-17.06	-9.43	-73.64	-7.71
Taxes Paid	-0.29	-0.26	0.80	1.06	-0.75	-24.85
Cash from Investing Activity	6.54	-20.30	-15.71	-12.27	-39.30	-131
Net Fixed Assets Purchased	5.93	-27.59	-15.55	-12.88	-37.50	-129
Fixed Assets Purchased	-10.96	-27.59	-16.77	-13.08	-39.51	-134
Fixed Assets Sold	16.89	—	1.21	0.20	2.01	5.00
Investment Purchased	—	—	-0.30	0.53	—	—
Investment Sold	—	6.37	—	0.53	-1.86	—
Interest Recieved	0.62	0.92	0.14	0.07	0.07	0.06
Dividends Recieved	—	—	—	—	—	—
Subsidiary Investments	—	—	—	—	—	—
Cash from Financing Activity	-28.43	-21.64	-58.29	-75.70	-49.60	-92.70
Proceeds From Shares	0.03	—	0.28	—	0.20	—
Net Long Term Borrowings	4.07	-4.82	5.49	1.61	10.89	4.37
Proceeds From Borrowings	4.07	—	6.66	3.34	24.59	19.87
Repayment From Borrowings	—	-4.82	-1.17	-1.73	-13.70	-15.50
Interest Paid	-2.42	-1.18	-4.62	-40.55	-47.19	-66.19
Dividend Paid	—	—	—	—	—	—
Net Cash Flow	52.21	-38.56	-15.39	-1.62	4.53	-0.43
Opening Cash & Cash Equivalents	8.29	60.49	21.93	6.54	4.92	9.45
Effect of FX	—	—	—	—	—	—
Closing Cash & Cash Equivalents	60.49	21.93	6.54	4.92	9.45	9.01
Net Capex (est)	-5.93	27.59	15.55	12.88	37.50	129
Free Cash Flow (est)	80.02	-24.21	43.06	73.48	55.92	93.60

Cash Flow Analysis

Increase
Decrease
Total

No data available.

Ratios

= Dominant Factor

V2 Retail Ltd.
Arvind Fashions
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V-Mart Retail
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	Mar'11	Mar'12	Mar'13	Mar'14	Mar'15	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Operational Ratios
Quick Ratio	0.74	0.27	0.08	0.08	0.08	0.57	0.25	0.24	0.23	0.20
Liquid Assets (Crs)	45.25	13.69	5.20	6.66	8.88	92.67	59.03	52.00	47.00	67.58
Current Liabilities (Crs)	60.89	50.25	65.99	80.12	107	163	232	215	204	340
Current Ratio	0.74	0.59	0.76	0.77	0.81	1.89	1.56	1.59	1.59	1.43
Current Assets (Crs)	45.25	29.73	50.03	61.99	87.06	308	361	343	326	486
Current Liabilities (Crs)	60.89	50.25	65.99	80.12	107	163	232	215	204	340
Interest Coverage Ratio	0.20	-0.83	0.13	0.41	2.79	1.26	0.53	0.62	0.60	1.65
EBIT (Crs)	22.10	-6.88	0.87	3.68	28.78	28.92	17.37	24.08	25.07	79.91
Interest Expenses (Crs)	109	8.33	6.82	8.95	10.33	32.79	32.67	38.94	42.02	48.54
Fixed Asset Turnover	91.67	5.50	9.95	12.24	12.11	1.37	0.86	0.92	1.23	1.42
Net Sales (Crs)	1,128	42.46	110	238	298	701	539	629	839	1,165
Fixed Assets (Crs)	12.31	7.72	11.06	19.43	24.64	513	624	681	680	820
Cash Conversion Cycle	-37.15	115	55.85	34.17	40.50	35.05	55.69	58.61	49.70	37.96
Inventory Days	0.00	138	101	77.01	82.49	76.65	175	172	124	109
Days Receivable	0.49	2.62	1.04	0.17	0.15	0.03	0.23	0.57	0.30	0.02
Days Payable	37.64	25.41	46.19	43.00	42.14	41.63	120	114	74.53	71.39
Debt to Equity Ratio	0.21	0.21	0.26	0.32	0.25	0.12	0.20	0.21	0.22	0.33
Total Debt (Crs)	64.39	57.22	70.56	83.54	69.31	33.11	53.80	54.53	53.70	90.84
Shareholders Equity (Crs)	307	275	270	262	274	279	269	258	247	275
Free Cash Flow/Sales (%)	7.48	-82.60	-14.98	1.94	9.59	11.41	-4.50	6.84	8.76	4.80
Free Cash Flow(est) (Crs)	84.34	-35.07	-16.47	4.62	28.62	80.02	-24.21	43.06	73.48	55.92
Net Sales (Crs)	1,128	42.46	110	238	298	701	539	629	839	1,165
Profitability Ratios
Gross Margin (%)	26.16	26.21	28.19	27.60	31.16	27.98	33.56	36.05	34.03	34.17
Op Profit Margin (%)	-4.79	-18.89	0.94	2.08	9.50	11.04	9.27	10.65	10.19	12.74
Operating Profit (Crs)	55.82	-4.28	3.14	7.16	30.87	79.90	72.89	82.91	92.12	157
Net Sales (Crs)	1,128	42.46	110	238	298	701	539	629	839	1,165
Net Profit Margin (%)	-5.78	-82.00	-4.79	-1.90	3.27	1.25	-2.38	-1.86	-1.53	2.39
Net Profit (Crs)	-65.22	-34.82	-5.27	-4.51	9.75	8.78	-12.84	-11.68	-12.82	27.81
Net Sales (Crs)	1,128	42.46	110	238	298	701	539	629	839	1,165
ROCE (%)	78.39	-29.62	2.84	10.77	82.49	5.40	3.12	4.38	4.50	12.13
EBIT (Crs)	22.10	-6.88	0.87	3.68	28.78	28.92	17.37	24.08	25.07	79.91
Capital Employed (Crs)	28.19	23.22	30.75	34.18	34.89	536	557	549	557	659
Return on Assets (%)	-73.22	-47.39	-5.45	-3.94	6.85	1.26	-1.63	-1.53	-1.68	2.78
Net Profit (Crs)	-65.22	-34.82	-5.27	-4.51	9.75	8.78	-12.84	-11.68	-12.82	27.81
Total Assets (Crs)	89.08	73.47	96.74	114	142	699	789	765	761	999
ROIC (%)	137	92.46	11.94	-25.39	-1,108	6.05	-0.93	1.25	2.65	10.27
Op Profit after Taxes (Crs)	-65.64	-21.50	-0.85	1.26	13.88	26.78	-4.70	6.44	13.91	63.49
Invested Capital (Crs)	-47.82	-23.26	-7.09	-4.98	-1.25	443	506	514	525	618
ROE (%)	-21.23	-12.67	-1.96	-1.72	3.56	3.15	-4.78	-4.52	-5.19	10.12
Net Profit Margin (%)	-5.78	-82.00	-4.79	-1.90	3.27	1.25	-2.38	-1.86	-1.53	2.39
Asset Turnover ratio	12.67	0.58	1.14	2.08	2.10	1.00	0.68	0.82	1.10	1.17
Equity Multiplier	0.29	0.27	0.36	0.44	0.52	2.50	2.94	2.96	3.08	3.64
Adjusted EPS	-29.12	-13.77	-1.82	-2.01	4.14	2.57	-3.77	-3.40	-3.73	8.04
Valuation Ratios
P/E	0.00	0.00	0.00	0.00	7.89	20.06	0.00	0.00	0.00	52.25
Price to Book	0.20	0.10	0.07	0.13	0.28	0.63	1.62	1.96	0.97	5.29
EV/EBITDA	1.49	-17.26	27.82	16.12	4.70	1.77	6.32	6.66	3.09	9.79
Dividend Yield (%)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Quarterly Results

V2 Retail Ltd.
Arvind Fashions
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V-Mart Retail
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In Rs. Cr.	Dec'22	Mar'23	Jun'23	Sep'23	Dec'23	Mar'24	Jun'24	Sep'24	Dec'24	Mar'25
Net Sales	240	193	264	231	374	296	415	380	591	499
Operating Expenses	202	179	228	211	313	265	360	347	479	441
Increase/Decrease in Stock	31.30	-43.76	7.50	-55.26	14.31	-95.52	-9.34	-85.50	9.02	-60.45
Raw Material	13.84	16.06	21.94	35.23	26.82	34.31	33.91	28.14	30.68	6.22
Employee Cost	24.64	21.97	22.99	23.29	29.71	29.48	35.62	39.02	42.26	42.29
Selling and Distribution Expenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Electricity, Power & Fuel Cost	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Gen_AdminExpenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Miscellaneous Expenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Profit	38.13	14.23	35.58	19.88	60.94	31.40	55.46	33.06	111	57.82
Other Income	2.39	2.13	1.39	2.13	3.02	0.94	1.39	2.51	1.19	1.86
Interest	10.42	9.36	10.44	12.26	11.70	12.83	13.71	14.97	17.83	21.40
PBDT	30.10	7.00	26.53	9.76	52.26	19.52	43.14	20.60	94.85	38.28
Depreciation and Amortization	17.60	17.33	18.15	18.24	20.86	19.47	21.37	23.03	26.32	27.93
Profit Before Tax	12.50	-10.32	8.38	-8.48	31.41	0.05	21.77	-2.43	68.53	10.35
Tax	3.19	-2.62	2.14	-2.78	7.84	-3.55	5.43	-0.49	17.34	3.91
Profit After Tax	9.32	-7.71	6.24	-5.70	23.57	3.60	16.34	-1.93	51.19	6.44
Exceptional Items	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Profit	9.32	-7.71	6.24	-5.70	23.57	3.60	16.34	-1.94	51.19	6.44
Quarterly Ratios
EPS	2.71	-2.24	1.80	-1.65	6.81	1.04	4.72	-0.56	14.80	1.86
Operating Profit Margin	15.91	7.36	13.50	8.59	16.30	10.61	13.36	8.70	18.87	11.60
Net Profit Margin	3.89	-3.98	2.37	-2.46	6.31	1.22	3.94	-0.51	8.66	1.29

Reverse DCF

Earnings

Discount Rate (%)

Terminal Multiple

5 YEAR

10 YEAR

20 YEAR

76.50%

Implied Growth Rate over a 5 year period*

29.00%

Implied Growth Rate over a 10 year period*

13.50%

Implied Growth Rate over a 20 year period*

*Implied Growth calculated using Newton-Raphson method.

Learn how to use Reverse DCF

FAQs on V2 Retail Ltd. Financials

How strong is V2 Retail balance sheet?

Balance sheet of V2 Retail is strong.
But short term working capital might become an issue for this company.

Is the debt of V2 Retail increasing or decreasing?

Yes, The net debt of V2 Retail is increasing.
Latest net debt of V2 Retail is ₹106 Crs as of Mar-25.
This is greater than Mar-24 when it was ₹75.95 Crs.

Is the profitablity of V2 Retail improving?

Yes, profit is increasing.
The profit of V2 Retail is ₹72.03 Crs for TTM, ₹27.81 Crs for Mar 2024 and -₹12.82 Crs for Mar 2023.

Does V2 Retail pay decent dividends?

The company seems to be paying a very low dividend.
Investors need to see where the company is allocating its profits.
V2 Retail latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%

How has V2 Retail allocated its funds?

Companies resources are allocated to majorly productive assets like Plant & Machinery and unproductive assets like Inventory

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V2 Retail Ltd.

V2 Retail Ltd.

Has the share price of V2 Retail grown faster than its competition?

Is V2 Retail stock expensive?

How strong is V2 Retail balance sheet?

Is the debt of V2 Retail increasing or decreasing?

Is the profitablity of V2 Retail improving?

Does V2 Retail pay decent dividends?

How has V2 Retail allocated its funds?

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