Lalit Agarwal says that the company is strengthening trend intelligence, accelerating design cycles and building what it calls a ‘Planogram to Instagram’ mindset
Noting that the current financial year will be a year of accelerated expansion, Lalit Agarwal, Managing Director, V-Mart Retail, has stated that the long-term goal is to build a Rs 10,000 crore business. He acknowledged that the external environment will continue to evolve and challenges will remain a part of the business.
“Our North Star is to build a Rs 10,000 crore business not just in scale, but in trust, capability and customer impact. As we strengthen our operating model, technology, and leadership foundation, we are transforming V-Mart into a more agile, intelligence-led and future-ready company,” Agarwal pointed out in the company’s annual report for 2025-26.
The MD noted that in the last fiscal year, weather disruptions affected festive demand, festival calendars shifted, competition intensified and input costs remained volatile. “While we did not achieve every aspiration we set for ourselves, we used every challenge as an opportunity to learn, improve and strengthen execution discipline across the company,” he emphasised.
In FY26, the company’s revenue grew 16 per cent to Rs 3,789 crore. Earnings before interest, taxes, depreciation and amortisation (Ebitda) increased 36 per cent to Rs 513 crore, with margins expanding to 13.6 per cent. The net profit reached Rs 124 crore.
Investments In Technology And Core
The MD noted that a defining theme of FY26 was strengthening the core while building for the future. He added that the company is strengthening trend intelligence, accelerating design cycles and building what it calls a ‘Planogram to Instagram’ mindset, ensuring that stores in Bharat deliver experiences that are contemporary, curated and aligned with evolving customer aspirations
“Our ambition is to move from simply stocking shelves to curating wardrobes and from being a transaction destination to becoming a trusted fashion partner. At the same time, our omnichannel ecosystem continues to deepen. Customers increasingly move seamlessly between digital discovery and physical shopping,” he explained.
Agarwal pointed out that the company’s artificial intelligence-powered platform, AskV, is enabling faster access to insights and information. Product Lifecycle Management (PLM) systems are improving design-to-shelf speed, while advanced analytics and machine learning are helping the company improve inventory productivity and responsiveness.
“Over the next few years, we aspire to build an organisation where a majority of routine operational and planning decisions are system-driven. This is not about replacing human judgement; it is about elevating it,” he highlighted.
Bharat’s Aspirational Shift
In an earlier interview with BW Retail World, Vineet Jain, Chief Operating Officer, V-Mart Retail said that the company is witnessing a sharp shift in consumer behaviour across smaller towns, with tier 2 and 3 markets emerging as highly aspirational and fast-evolving fashion hubs. Jain highlighted how social media and connectivity have compressed trend cycles. He added that “customers are very, very aspirational, especially the youth generation… generation Z customers,” with fashion and celebration-led consumption in these markets now rivalling or even surpassing metros.
This shift aligns with the broader “value pride” trend the company is betting on, where customers take pride in making smart fashion choices. “This is reshaping demand and pushing us to deliver accessible fashion at compelling value,” he added.
V-Mart has been recalibrating its merchandising accordingly, strengthening categories such as coordinated sets, denim and leisurewear to cater to this evolving, youth-led demand in Bharat. “We have evolved our assortment, moving away from traditional categories like kurtas and strengthening salwar suits, coordinated sets, denim and leisurewear,” he noted.
Strong Start To FY27
V-Mart has reported a 23 per cent year-on-year (YoY) increase in its revenue from operations in the first quarter of the current financial year (Q1FY27). The company’s revenue rose to Rs 1,089 crore from Rs 885 crore in Q1FY26.
Sharing the business update in an exchange filing, the company said that the same-store sales growth (SSSG) was 9 per cent for the quarter, with V-Mart at 8 per cent and Unlimited at 13 per cent. During the quarter, the company opened 15 stores and closed one store, resulting in a total operating portfolio of 591 stores as at 30 June 2026.
The company added that the 15 new stores include seven stores in Uttar Pradesh, two stores in Uttarakhand and one store each in Gujarat, Jharkhand, Karnataka, New Delhi, Tamil Nadu and West Bengal.
