Integrated Filing — IndAS



General information about company

Scrip Code 534976
NSE Symbol VMART
MSEI Symbol NOTLISTED
ISIN INE665J01013
Name of company V-MART RETAIL LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 07-05-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 27-04-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Fourth quarter
Nature of report standalone or consolidated Standalone
Whether results are audited or unaudited for the quarter ended Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Audited
Segment Reporting Multi segment
Description of single segment
Start date and time of board meeting 07-05-2026   13:30:00
End date and time of board meeting 07-05-2026   18:25:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Whether the company has any related party? Yes
Whether the company has entered into any Related Party transaction during the selected half year for which it wants to submit disclosure? Yes
(I) We declare that the acceptance of fixed deposits by the bans/Non-Banking Finance Company are at the terms uniformly applicable/offered to all shareholders/public NA
(II) We declare that the scheduled commercial bank, as per RBI circular RBI/DBR/2015-16/19 dated March 03, 2016, has allowed additional interest of one per cent per annum, over and above the rate of interest mentioned in the schedule of interest rates on savings or a term deposits of banks staff and their exclusive associations as well as on deposits of Chairman, Chairman & Managing Director, Executive Director or such other Executives appointed for a fixed tenure. NA
Whether the company is a high value debt listed entity according to regulation 15 (1A)? No
(a) If answer to above question is Yes, whether complying with proviso to regulation 23 (9), i.e., submitting RPT disclosures on the day of results publication?
(b) If answer to above question is No, please explain the reason for not complying.
Whether the updated Related Party Transactions (RPT) Policy (in compliance with Reg. 23 of SEBI LODR) has been uploaded on the website of the Company? Yes
Latest Date on which RPT policy is updated 22-01-2026
Indicate Company website link for updated RPT policy of the Company https://vmart.co.in/wp-content/uploads/Final-RPT-Policy-2.pdf
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter? No
No. of times funds raised during the quarter
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity? No
NA



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-01-2026 01-04-2025
B Date of end of reporting period 31-03-2026 31-03-2026
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Standalone Standalone
1 Income
Revenue from operations 97,089.00 3,78,936.00
Other income 472.00 1,504.00
Total income 97,561.00 3,80,440.00
2 Expenses
(a) Cost of materials consumed 0.00 0.00
(b) Purchases of stock-in-trade 69,759.00 2,48,693.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade (3,881.00) (70.00)
(d) Employee benefit expense 10,053.00 39,488.00
(e) Finance costs 1,924.00 7,548.00
(f) Depreciation, depletion and amortisation expense 8,014.00 29,705.00
(f) Other Expenses
1 Other expenses 10,530.00 39,479.00
Total other expenses 10,530.00 39,479.00
Total expenses 96,399.00 3,64,843.00
3 Total profit before exceptional items and tax 1,162.00 15,597.00
4 Exceptional items 92.00 (119.00)
5 Total profit before tax 1,254.00 15,478.00
6 Tax expense
7 Current tax (340.00) 2,173.00
8 Deferred tax 466.00 905.00
9 Total tax expenses 126.00 3,078.00
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations 1,128.00 12,400.00
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0.00 0.00
16 Total profit (loss) for period 1,128.00 12,400.00
17 Other comprehensive income net of taxes 58.00 (19.00)
18 Total Comprehensive Income for the period 1,186.00 12,381.00
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent
Total profit or loss, attributable to non-controlling interests
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent
Total comprehensive income for the period attributable to owners of parent non-controlling interests
21 Details of equity share capital
Paid-up equity share capital 7,946.00 7,946.00
Face value of equity share capital 10 10
27 Details of debt securities
22 Reserves excluding revaluation reserve 87,164.00
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 1.49 11.79
Diluted earnings (loss) per share from continuing operations 1.48 11.74
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 1.49 11.79
Diluted earnings (loss) per share from continuing and discontinued operations 1.48 11.74
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) 1. These financials results have been prepared in accordance with Indian Accounting Standard (Ind AS) as prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of Companies (Indian Accounting Standards) Rules, 2015 and relevant amendments thereafter and in terms of regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and other accounting principles generally accepted in India. 2. The above financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on May 07, 2026 and have been audited by the statutory auditors of the Company. 3. Pursuant to the Company's Employee Stock Option Scheme 2020 and 2012 (Scheme), the Company has issued 19,264 shares and 128,395 shares during the quarter ended March 31, 2026 and year ended March 31, 2026 respectively, on account of exercise of vested stock options. 4. There are no subsidiary/associate/joint venture of the Company as on March 31, 2026, hence there is no requirement to present consolidated financial results for the quarter and year ended March 31, 2026. 5. (A) On November 21, 2025, the Government of India notified four new Labour Codes (the Code on Wages, 2019, the Code on Social Security, 2020, the Industrial Relations Code, 2020 and the Occupational Safety, Health and Working Conditions Code, 2020) consolidating 29 existing labour laws. The Ministry of Labour & Employment published draft Central Rules and FAQs to enable assessment of the financial impact due to changes in regulations. The Company has assessed and accounted for the incremental impact of these changes with the best information available and guidance provided by the Institute of Chartered Accountants of India. The impact of the above change amounting to Rs. (92) lakhs and Rs 119 lakhs has been disclosed as “Exceptional items” in the financial results for the quarter and year ended March 31, 2026 respectively. The Company continues to monitor the finalization of Central/ State Rules and clarifications from the Government on other aspects of the Labour Codes and would provide appropriate accounting effect as and when such clarifications are issued/rules are notified. (B) During the year ended March 31, 2025, the Company reassessed its lease term estimates for store leases in accordance with Ind AS 116 - ''Leases''. This reassessment reflects the evolving nature of the Company’s store portfolio based on historical trends as well as future operating strategy. Accordingly, lease term estimates had been revised to closely align with the period over which management reasonably expects to exercise option to renew its lease contracts. This had led to a reassessment of the estimates of measurement and recognition of Right-of-Use (ROU) assets (including associated security deposits) and corresponding lease liabilities under Ind AS 116 - ''Leases. The above reassessment resulted in the recognition of a net exceptional gain of Rs. 2,418 lakhs during the year ended March 31, 2025. 6. During the quarter ended June 30, 2025, the Company has issued 3 bonus shares on 1 fully paid up equity share having face value of Rs. 10 each. Accordingly, the Earnings/(loss) per share for the prior periods have been restated in accordance with Ind AS 33 - ''Earnings per share'' 7. For better understanding of the financial performance, the Company has chosen to present Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) as an additional information. EBITDA is derived from profit/(loss) before exceptional item and tax, less other income and adding back finance costs and depreciation and amortization expense. EBITDA (quarter ended March 31, 2026): Rs. 10,628 Lakhs EBITDA (year ended March 31, 2026): Rs. 51,346 Lakhs 8. The figures for the last quarter are the balancing figures between the audited figures in respect of the full financial year and the unaudited published year-to-date figures up to the end of the third quarter of the respective financial year which were subject to limited review by the statutory auditors. 9. The Board of Directors at there meeting held on Thursday, May 7, 2026 have recommended the Final Dividend for FY ended March 31, 2026 of Rs. 1 per equity share (face value of Rs. 10 each). Final Dividend is subject to the approval of shareholders at the ensuing Annual General Meeting of the Company. 10. Figures of previous year / periods have been reclassified / regrouped /restated, wherever necessary.



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2025
Date of end of reporting period 31-03-2026
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Standalone
Assets
1 Non-current assets
Property, plant and equipment 58,360.00
Capital work-in-progress 827.00
Investment property 0.00
Goodwill 150.00
Other intangible assets 3,057.00
Intangible assets under development 0.00
Biological assets other than bearer plants 0.00
Investments accounted for using equity method 0.00
Non-current financial assets
Non-current investments 0.00
Trade receivables, non-current 0.00
Loans, non-current 0.00
Other non-current financial assets
1 Other non-current financial assets 5,754.00
Total of other non-current financial assets 5,754.00
Total non-current financial assets 5,754.00
Deferred tax assets (net) 7,590.00
Other non-current assets
1 Right-of-use assets 75,023.00
2 Income tax assets (net) 788.00
3 Other non-current assets 2,464.00
Total of other non-current assets 78,275.00
Total non-current assets 1,54,013.00
2 Current assets
Inventories 98,753.00
Current financial asset
Current investments 1,838.00
Trade receivables, current 0.00
Cash and cash equivalents 1,953.00
Bank balance other than cash and cash equivalents 0.00
Loans, current 17.00
Other current financial assets
Total of other current financial assets 3,721.00
Total current financial assets 7,529.00
Current tax assets (net) 0.00
Other current assets
1 Other current assets 17,695.00
Total of other current assets 17,695.00
Total current assets 1,23,977.00
3 Non-current assets classified as held for sale 0.00
4 Regulatory deferral account debit balances and related deferred tax Assets 0.00
Total assets 2,77,990.00
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 7,946.00
Other equity 87,164.00
Total equity attributable to owners of parent 95,110.00
Non controlling interest
Total equity 95,110.00
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 0.00
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0.00
Total Trade payable 0.00
Other non-current financial liabilities
1 Lease liabilities 61,348.00
Total of other non-current financial liabilities 61,348.00
Total non-current financial liabilities 61,348.00
Provisions, non-current 0.00
Deferred tax liabilities (net) 0.00
Deferred government grants, Non-current 0.00
Other non-current liabilities
1 Employee benefit obligations 1,928.00
Total of other non-current liabilities 1,928.00
Total non-current liabilities 63,276.00
Current liabilities
Current financial liabilities
Borrowings, current 10,001.00
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 21,587.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 27,510.00
Total Trade payable 49,097.00
Other current financial liabilities
1 Lease liabilities 24,410.00
2 Other current financial liabilities 33,501.00
Total of other current financial liabilities 57,911.00
Total current financial liabilities 1,17,009.00
Other current liabilities 2,362.00
1 Employee benefit obligations 970.00
2 Other current liabilities 1,392.00
Total of other current liabilities 2,362.00
Provisions, current 0.00
Current tax liabilities (Net) 233.00
Deferred government grants, Current 0.00
Total current liabilities 1,19,604.00
3 Liabilities directly associated with assets in disposal group classified as held for sale 0.00
4 Regulatory deferral account credit balances and related deferred tax liability 0.00
Total liabilities 1,82,880.00
Total equity and liabilites 2,77,990.00
Disclosure of notes on assets and liabilities



Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-01-2026 01-04-2025
Date of end of reporting period 31-03-2026 31-03-2026
Whether results are audited or unaudited Audited Audited
Nature of report standalone or consolidated Standalone Standalone
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
1 Retail trade 96,502.00 3,76,463.00
2 Digital marketplace 0.0099 3,718.00
Total Segment Revenue 97,492.00 3,80,181.00
Less: Inter segment revenue 403.00 1,245.00
Revenue from operations 97,089.00 3,78,936.00
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
1 Retail trade 1,624.00 18,984.00
2 Digital marketplace (42.00) (1,436.00)
Total Profit before tax 1,582.00 17,548.00
i. Finance cost 198.00 1,045.00
ii. Other Unallocable Expenditure net off Unallocable income 222.00 906.00
Profit before tax 1,162.00 15,597.00
3 (Segment Asset - Segment Liabilities)
Segment Asset
1 Retail trade 2,63,204.00 2,63,204.00
2 Digital marketplace 3,437.00 3,437.00
Total Segment Asset 2,66,641.00 2,66,641.00
Un-allocable Assets 11,349.00 11,349.00
Net Segment Asset 2,77,990.00 2,77,990.00
4 Segment Liabilities
Segment Liabilities
1 Retail trade 1,70,505.00 1,70,505.00
2 Digital marketplace 2,101.00 2,101.00
Total Segment Liabilities 1,72,606.00 1,72,606.00
Un-allocable Liabilities 10,274.00 10,274.00
Net Segment Liabilities 1,82,880.00 1,82,880.00
Disclosure of notes on segments



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-01-2026 01-04-2025
B Date of end of reporting period 31-03-2026 31-03-2026
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Standalone Standalone
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Remeasurement gain/(loss) of net defined benefit obligations 77.00 (26.00)
Total Amount of items that will not be reclassified to profit and loss 77.00 (26.00)
2 Income tax relating to items that will not be reclassified to profit or loss 19.00 (7.00)
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss 0.00 0.00
5 Total Other comprehensive income 58.00 (19.00)



Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2025
B Date of end of reporting period 31-03-2026
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Standalone
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 15,478.00
Adjustments for reconcile profit (loss)
Adjustments for finance costs 7,548.00
Adjustments for decrease (increase) in inventories (70.00)
Adjustments for decrease (increase) in trade receivables, current 0.00
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets (2,310.00)
Adjustments for decrease (increase) in other non-current assets 514.00
Adjustments for other financial assets, non-current (1,136.00)
Adjustments for other financial assets, current (823.00)
Adjustments for other bank balances 0.00
Adjustments for increase (decrease) in trade payables, current (1,775.00)
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities 201.00
Adjustments for increase (decrease) in other non-current liabilities 0.00
Adjustments for depreciation and amortisation expense 29,705.00
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 91.00
Adjustments for provisions, current 228.00
Adjustments for provisions, non-current 82.00
Adjustments for other financial liabilities, current 3,743.00
Adjustments for other financial liabilities, non-current 0.00
Adjustments for unrealised foreign exchange losses gains 0.00
Adjustments for dividend income 0.00
Adjustments for interest income 491.00
Adjustments for share-based payments 903.00
Adjustments for fair value losses (gains) (33.00)
Adjustments for undistributed profits of associates 0.00
Other adjustments for which cash effects are investing or financing cash flow (8.00)
Other adjustments to reconcile profit (loss) (365.00)
Other adjustments for non-cash items 698.00
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) 36,702.00
Net cash flows from (used in) operations 52,180.00
Dividends received 0.00
Interest paid 0.00
Interest received 0.00
Income taxes paid (refund) 2,126.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) operating activities 50,054.00
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0.00
Cash flows used in obtaining control of subsidiaries or other businesses 0.00
Other cash receipts from sales of equity or debt instruments of other entities 0.00
Other cash payments to acquire equity or debt instruments of other entities 0.00
Other cash receipts from sales of interests in joint ventures 0.00
Other cash payments to acquire interests in joint ventures 0.00
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0.00
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0.00
Proceeds from sales of property, plant and equipment 74.00
Purchase of property, plant and equipment 15,993.00
Proceeds from sales of investment property 0.00
Purchase of investment property 15,999.00
Proceeds from sales of intangible assets 14,707.00
Purchase of intangible assets 0.00
Proceeds from sales of intangible assets under development 0.00
Purchase of intangible assets under development 0.00
Proceeds from sales of goodwill 0.00
Purchase of goodwill 0.00
Proceeds from biological assets other than bearer plants 0.00
Purchase of biological assets other than bearer plants 0.00
Proceeds from government grants 0.00
Proceeds from sales of other long-term assets 0.00
Purchase of other long-term assets 463.00
Cash advances and loans made to other parties 0.00
Cash receipts from repayment of advances and loans made to other parties 0.00
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0.00
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0.00
Dividends received 0.00
Interest received 145.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 131.00
Net cash flows from (used in) investing activities (17,398.00)
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0.00
Payments from changes in ownership interests in subsidiaries 0.00
Proceeds from issuing shares 0.00
Proceeds from issuing other equity instruments 871.00
Payments to acquire or redeem entity's shares 0.00
Payments of other equity instruments 63.00
Proceeds from exercise of stock options 0.00
Proceeds from issuing debentures notes bonds etc 0.00
Proceeds from borrowings 0.00
Repayments of borrowings 4,895.00
Payments of lease liabilities 22,958.00
Dividends paid 0.00
Interest paid 7,600.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) financing activities (34,645.00)
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes (1,989.00)
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0.00
Net increase (decrease) in cash and cash equivalents (1,989.00)
Cash and cash equivalents cash flow statement at beginning of period 3,942.00
Cash and cash equivalents cash flow statement at end of period 1,953.00





Details of Impact of Audit Qualification

Amount in (Lakhs)

Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Auditor's opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results Yes
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 S.R. Batliboi & Co. LLP Yes 31-07-2027


Amount in (Lakhs)

Format for Disclosure of Related Party Transactions (applicable only for half-yearly filings i.e., 2nd and 4th quarter)
Sr No. Additional disclosure of related party transactions - applicable only in case the related party transaction relates to loans, inter-corporate deposits, advances or investments made or given by the listed entity/subsidiary. These details need to be disclosed only once, during the reporting period when such transaction was undertaken.
Details of the party (listed entity/subsidiary) entering into the transaction Details of the counterparty Type of related party transaction Details of other related party transaction Value of the related party transaction as approved by the audit committee Remarks on approval by audit committee Value of the related party transaction ratified by the audit committee Date of Audit Committee Meeting where the ratification was approved Value of transaction during the reporting period In case monies are due to either party as a result of the transaction In case any financial indebtedness is incurred to make or give loans, inter-corporate deposits, advances or investments Details of the loans, inter-corporate deposits, advances or investments Notes
Name PAN Name PAN Relationship of the counterparty with the listed entity or its subsidiary Opening balance Closing balance Nature of indebtedness (loan/ issuance of debt/ any other etc.) Details of other indebtedness Cost Tenure Nature (loan/ advance/ intercorporate deposit/ investment ) Interest Rate (%) Tenure Secured/ unsecured Purpose for which the funds will be utilised by the ultimate recipient of funds (endusage)
1 V-Mart Retail Limited Mr. Lalit Agarwal Key Managerial Personnel Remuneration 389.00 NA 389.00 35.00 68.00
2 V-Mart Retail Limited Mr. Madan Gopal Agarwal Key Managerial Personnel Remuneration 100.00 NA 100.00 11.00 34.00
3 V-Mart Retail Limited Mr. Varin Agarwal Relative of Key Managerial Personnel Remuneration 26.00 NA 26.00 4.00 0.00
4 V-Mart Retail Limited Harita Technopack LLP Relative of Key Managerial Personnel Purchase of goods or services 118.00 NA 118.00 0.00 24.00
5 V-Mart Retail Limited Mr. Snehal Shah Relative of Key Managerial Personnel Any other transaction Amount received against equity shares issued on exercising employee stock options 52.00 NA 52.00 0.00 0.00 Textual Information(1)
Total value of transaction during the reporting period 685.00



Text Block

Textual Information(1) Amount received against equity shares issued on exercising employee stock options