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Vishal Mega Mart (VMM)₹92.62−1.47%Diversified Retail
In the Sep 2026 quarter (consolidated), Vishal Mega Mart reported sales of ₹3,388 Cr, up 14.0% from Sep 2025, and net profit of ₹158 Cr, up 3.9% year on year. For the year to Mar 2026, sales were ₹12,872 Cr and net profit ₹841 Cr.
Company filings, consolidated accounts; latest reported quarter Sep 2026
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,617 | 2,061 | 2,586 | 2,429 | 3,126 | 2,539 | 3,130 | 2,972 | 3,657 | 3,106 | 3,714 | 3,388 |
| Expenses | 2,204 | 1,824 | 2,240 | 2,142 | 2,638 | 2,198 | 2,690 | 2,594 | 3,075 | 2,699 | 3,192 | 2,997 |
| Operating Profit | 428 | 252 | 367 | 302 | 506 | 358 | 460 | 396 | 606 | 426 | 546 | 413 |
| OPM % | 15.9% | 12.0% | 14.0% | 12.0% | 16.0% | 14.0% | 15.0% | 13.0% | 15.9% | 14.0% | 14.9% | 12.0% |
| Other Income | 9.99 | 6.99 | 7.99 | 12.98 | 18.98 | 18.99 | 16.99 | 19.99 | 24.97 | 24.98 | 32.96 | 37.98 |
| Interest | 33.10 | 36.13 | 34.09 | 34.10 | 31.08 | 49.14 | 41.16 | 41.15 | 43.11 | 46.16 | 46.13 | 47.15 |
| Depreciation | 132 | 136 | 138 | 141 | 141 | 171 | 159 | 169 | 168 | 178 | 185 | 192 |
| Profit before tax | 272 | 84.96 | 201 | 141 | 352 | 156 | 276 | 204 | 419 | 225 | 346 | 211 |
| Tax % | 25.0% | 28.0% | 25.0% | 26.0% | 25.0% | 26.0% | 25.0% | 25.0% | 25.0% | 25.0% | 25.0% | 25.0% |
| Net Profit | 205 | 61.14 | 150 | 104 | 264 | 115 | 207 | 152 | 314 | 168 | 260 | 158 |
| EPS (Rs) | 0.45 | 0.13 | 0.32 | 0.22 | 0.57 | 0.24 | 0.43 | 0.32 | 0.66 | 0.35 | 0.54 | 0.33 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Sales | 5,275 | 4,441 | 5,571 | 7,557 | 8,878 | 10,678 | 12,872 | 13,865 |
| Expenses | 4,649 | 3,840 | 4,781 | 6,559 | 7,662 | 9,182 | 11,030 | 11,964 |
| Operating Profit | 658 | 627 | 827 | 1,046 | 1,279 | 1,568 | 1,922 | 1,990 |
| OPM % | 12.0% | 13.9% | 15.0% | 14.0% | 14.0% | 15.0% | 15.0% | 14.4% |
| Other Income | 19.99 | 116 | 61.98 | 32.97 | 31.96 | 55.96 | 83.92 | 121 |
| Interest | 237 | 233 | 214 | 186 | 171 | 181 | 205 | 183 |
| Depreciation | 340 | 346 | 406 | 462 | 518 | 591 | 674 | 724 |
| Profit before tax | 101 | 163 | 270 | 431 | 621 | 849 | 1,126 | 1,202 |
| Tax % | 55.0% | 27.0% | 25.0% | 25.0% | 26.0% | 26.0% | 25.0% | — |
| Exceptional items | 4.02 | 0.00 | 4.02 | 9.03 | 9.04 | −2.01 | −1.01 | — |
| Net Profit | 45.11 | 119 | 204 | 322 | 463 | 634 | 841 | 900 |
| EPS (Rs) | 0.11 | 0.25 | 0.44 | 0.72 | 1.01 | 1.36 | 1.79 | 1.88 |
| Dividend payout % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 4,371 | 4,490 | 4,511 | 4,515 | 4,515 | 4,602 | 4,674 |
| Reserves | −143 | 105 | 324 | 653 | 1,117 | 1,811 | 2,751 |
| Borrowings | 796 | 773 | 1,798 | 1,469 | 1,490 | 1,737 | 1,995 |
| Other Liabilities | 2,386 | 2,553 | 1,611 | 1,679 | 1,408 | 1,865 | 2,058 |
| Total Liabilities | 7,408 | 7,921 | 8,244 | 8,314 | 8,530 | 10,017 | 11,478 |
| Fixed Assets | 5,751 | 4,659 | 5,826 | 5,917 | 6,205 | 6,559 | 6,910 |
| CWIP | 20.05 | 11.03 | 11.02 | 69.18 | 38.10 | 14.03 | 34.08 |
| Investments | 87.03 | 548 | 417 | 35.04 | 0.00 | 387 | 1,119 |
| Other Assets | 1,550 | 2,703 | 1,989 | 2,294 | 2,285 | 3,056 | 3,416 |
| Inventories | 1,109 | 967 | 1,214 | 1,488 | 1,462 | 1,845 | 2,011 |
| Trade receivables | 2.99 | 2.99 | 1.99 | 3.99 | 31.96 | 65.91 | 27.98 |
| Cash & equivalents | 115 | 123 | 217 | 170 | 119 | 466 | 597 |
| Total Assets | 7,408 | 7,921 | 8,244 | 8,314 | 8,530 | 10,017 | 11,478 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from operating activity | 555 | 1,050 | 655 | 634 | 827 | 1,394 | 1,615 |
| Cash from investing activity | −149 | −696 | 27.05 | 177 | −130 | −612 | −990 |
| Cash from financing activity | −429 | −276 | −710 | −865 | −658 | −479 | −500 |
| Net cash flow | −21.92 | 83.72 | −25.90 | −51.85 | 40.87 | 309 | 132 |
| Capex | 171 | 104 | 158 | 222 | 249 | 264 | 325 |
| Free cash flow | 387 | 951 | 500 | 417 | 583 | 1,139 | 1,300 |
| CFO / OP % | 94.0% | 172.0% | 88.0% | 73.0% | 77.0% | 105.0% | 102.0% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor days | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| Inventory days | 107 | 111 | 112 | 99 | 84 | 89 | 81 |
| Days payable | 102 | 144 | 133 | 99 | 69 | 70 | 64 |
| Cash conversion cycle | 3 | −35 | −23 | 0 | 14 | 19 | 16 |
| Working capital days | −18 | −39 | −41 | −17 | 0 | −4 | −6 |
| ROCE % | — | 8.0% | 8.0% | 9.0% | 10.9% | 13.9% | 15.0% |
For the Sep 2026 quarter, Vishal Mega Mart reported sales of ₹3,388 Cr, up 14.0% year on year and net profit of ₹158 Cr, up 3.9% year on year. The operating margin was 12.0%.
Vishal Mega Mart's sales for the year to Mar 2026 were ₹12,872 Cr; over the last twelve months they were ₹13,865 Cr.
Net profit for the year to Mar 2026 was ₹841 Cr, and ₹900 Cr over the last twelve months. Earnings per share over the same trailing period were ₹1.88.
Vishal Mega Mart reported borrowings of ₹1,995 Cr at Mar 2026, against cash and equivalents of ₹597 Cr.
Cash from operations was ₹1,615 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹1,300 Cr.