V-Mart share price surges 13% post March quarter business update

V-Mart Retail share price: For the entire financial year of 2024-25 (FY25), V-Mart clocked revenue growth of 17 per cent Y-o-Y to ₹3,254 crore

V-Mart share price was roaring in trade on Wednesday, April 2, 2025, after the company shares its quarterly business update for the recently concluded March quarter (Q4FY25). V-Mart shares soared 12.9 per cent to ₹3,333.3 per share on the BSE today, backed by decent volumes.

 

At 1:27 PM, the stock of the retail chain operator was trading 12.3 per cent higher at ₹3,315 per share as against 0.64 per cent gain in the benchmark BSE Sensex index. So far in the session, 5,039 shares have changed hands on V-Mart counter compared to a two-week average of 1,200 shares.

 

During its quarterly business update, V-Mart informed the stock exchanges that its revenue from operations, during the quarter ended March 2025, provisionally grew 17 per cent year-on-year (Y-o-Y) to ₹780 crore, up from ₹669 crore seen at the end of the March 2024 quarter.

 

While the V-Mart brick and mortar stores clocked 18 per cent Y-o-Y growth at ₹772 crore, its digital marketplace, LimeRoad, saw a 47-per cent contraction to ₹8 crore.

 

For the entire financial year of 2024-25 (FY25), V-Mart clocked revenue growth of 17 per cent Y-o-Y to ₹3,254 crore vs ₹2,786 crore. Here, too, LimeRoad saw a decline of 42 per cent Y-o-Y in its annual revenue to ₹41 crore.

 

"Income from LimeRoad digital marketplace of ₹8 crore represents the commission income charged from sellers on the Net Merchandising Value (NMV) of ₹23 crore," it said.  Also Read: RIL to post flat Q4 margins; Earnings growth to rise in FY26: Goldman Sachs

 

Meanwhile, V-Mart Retail's same store sales growth (SSSG) stood at 8 per cent for the March quarter (Q4FY25), down from 10 per cent growth in Q3FY25. SSSG for the year stood at 11 per cent.

 

On the operations from, V-Mart said it opened 13 new stores during the quarter, including four stores in Uttar Pradesh, two each in Bihar and Jharkhand, and one store each in West Bengal, Jammu and Kashmir, Assam, Arunachal Pradesh, and Tamil Nadu.  

 

On the flipside, it closed 4 stores in Q4FY25.

 

"YTD the company has opened 62 stores and closed 9 stores. With this the total number of stores now stands at 497 as at March 31, 2025," V-Mart said in its stock exchange filing.

 

According to analysts at Motilal Oswal Financial Services, less severe winters in North India likely led to the moderation in SSSG for V-Mart (core). The brokerage has maintained its 'Neutral' rating on the stock with a share price target of ₹3,850 per share.

V-Mart FY26 Outlook

Meanwhile, according to reports, the apparel retailer is eyeing double-digit SSSG in the new financial year of 2025-26 (FY26).

 

"We expect a consumption boost in FY26, especially from tier-III and the rural areas, provided monsoons remain healthy this year. We hope to clock almost a double-digit growth in FY26," Lalit Agarwal, founder and managing director of V-Mart Retail was quoted as saying.

 

Last month, analysts at HDFC Securities upgraded V-Mart stock to 'Buy', from 'Reduce', given that V-Mart's recovery momentum from an unfavourable rural cycle, and past capital allocation stumbles remained on track.

 

Further, footfall/sales densities continued to inch back to normalcy, rental bills are getting re-calibrated downwards, working capital pain is alleviating, and initial attempts of increasing consumer wallet share (introducing new categories) are encouraging and likely to improve sales density further.

 

"Against this backdrop, the 35 per cent stock price correction (since between September 2024 and March 2025) seems overdone. The stock is now available at 21x FY27 EV/Ebitda. The ask from growth and profitability remains modest," it said in a report dated March 20, 2025. The brokerage has, thus, baked in 15 per cent revenue CAGR over FY25-27E and 6.4 per cent Ebitda margin, respectively.   HDFC Securities has set V-Mart share price target at ₹3,500 per share.