V2 Retail Ltd PAT for Q1 FY25 up by 162% y-o-y at Rs. 16.3 crores

V2 Retail Limited (V2 Retail), one of India's leading and fastest growing Value Retail Company, with 127 stores spread presence across 17 states and ~100 cities announced its unaudited Financial Results for the quarter ended June 30, 2024.

Performance highlights for Q1 FY25

- Revenue from operations stood at Rs. 415 crores, registering a growth of 57% on Y-O-Y basis. Gross Margin stood at 29.0% for Q1 FY25 as compared to 30.6% for Q1 FY24.

- EBIDTA for the quarter stood at Rs. 55.5 crores as compared to Rs. 35.6 crores in Q1 FY24, registering a growth of 56% on Y-O-Y basis. EBIDTA margin stood at 13.4% for Q1 FY25 as compared to 13.5% for Q1 FY24.

- PAT for the quarter stood at Rs. 16.3 crores as compared to Rs. 6.2 crores in Q1 FY24, registering a growth of 162% on Y-O-Y basis.

Key Updates:

- As on June 30, 2024, the Company operates 127 stores with a total retail area of ~13.64 lac Sq. Ft. The Company opened 10 new stores in Q1 FY25.

- Healthy Same Store Sales Growth of 37% in Q1 FY25 despite higher base and general industry slowdown.

- Robust volume growth of 55% in Q1 FY25. The MRP sales contributed 93% in Q1 FY25 as compared to 84% in Q1 FY24.

Commenting on the results and performance, Mr. Ram Chandra Agarwal, Chairman & Managing Director said: "After a historic FY 24, we are thrilled to start the current financial year with highest ever quarterly sales during Q1 FY25 and a 162% increase in y-o-y PAT. The relentless efforts of our team to work toward the strategic initiatives and achieve the growth plan has started reflecting in the performance.

At V2 Retail, our mission is to democratize fashion by offering high-quality, trendy apparel at affordable prices to value-conscious consumers across all tiers of cities. We achieve this through operational excellence, strategic expansion, competitive pricing, a customer-centric approach, and the strategic use of technology. Our diverse product range, competitive pricing and exceptional shopping experience ensure that we provide significant value to our customers. As we continue to grow and innovate, we remain committed to making fashion accessible to all, uplifting communities, and driving sustainable growth.

By focusing on penetrating underserved rural markets and maintaining a strong presence in Tier I and Tier II cities, we reach a diverse customer base alongside understanding and responding to the unique preferences and needs of our customers across different regions through localized product offerings and personalized shopping experiences has given us the edge compared to others. I believe this is just the start and we are geared to set up new benchmark both in terms of customer satisfaction and resultant reflection in our performance.

Our inhouse manufacturing facilities along-side our experienced team of designers and merchandiser and inventory management focus has given us an edge as compared to our peers. The strong acceptance of our differentiated product offerings at MRP and growing relevance is the testimony of our customer centric thinking of providing fresh variety, good quality at best price. The growth across all our stores have been encouraging, translating into a robust SSG of 37% in Q1 FY25.

We are confident that this business is well poised deliver substantial value to customers and shareholders going forward. The growing acceptance of our brands demonstrates the attractiveness of our platform and the tremendous potential to address opportunities that lie ahead."

Shares of V2 Retail Limited was last trading in BSE at Rs. 891.90 as compared to the previous close of Rs. 859.10. The total number of shares traded during the day was 9324 in over 390 trades.

The stock hit an intraday high of Rs. 900.00 and intraday low of 870.00. The net turnover during the day was Rs. 8272371.00.

Source : Equity Bulls

Keywords

V2Retail INE945H01013 Q1FY25 Q1FY2025 FY2025 ResultUpdate