V2 Retail Limited · NSE:V2RETAIL
V2 Retail — H1 FY2027 Earnings Presentation
37 slides from V2 Retail's earnings presentation, Nov 3, 2026
Slide 1: Exchange filing cover letter for investor presentation
V2 Retail Limited 03rd November, 2026 BSE Ltd. National Stock Exchange of India Ltd. Corporate Relation Department, Listing Department Listing Department, Exchange Plaza, C-1, Block- G, Rotunda Building, PJ Towers, Bandra Kurla Complex Dalal Street, Mumbai – 400 023. Bandra (East) Mumbai–400 051 Scr
Slide 2: V2 Retail Limited Q2 & H1FY27 Investor Presentation
Value & Variety V2 RETAIL LIMITED Q2 & H1FY27 | INVESTOR PRESENTATION
Slide 3: Q2 & H1FY27 Performance Highlights
ww Py Vous Variety Q2 & H1FY27 Performance Highlights
Slide 4: Q2 & H1FY27 Performance Highlights (Consolidated)
Q2 & H1FY27 Performance Highlights (Consolidated) Revenue Gross Profit EBITDA PAT Q2FY27 ₹ 905.6 Cr +28% ₹ 281.3 Cr +42% ₹ 120.3 Cr +41% ₹ 18.2 Cr +6% 31.1% 13.3% 2.0% H1FY27 ₹ 1,902.8 Cr +42% ₹ 566.4 Cr +47% ₹ 259.7 Cr +50% ₹ 60.1 Cr +43% 29.8% 13.6% 3.2% Manufacturing Leading the way in Affordable
Slide 5: Key Operational Highlights Q2 FY27
Key Operational Highlights Q2 FY27 Same stores sales growth (SSG) Volume growth for Q2FY27 stood Men’s Wear 40%, Ladies Wear 29% stood at (14.9%) & normalised SSG at 31% (Y-o-Y). Kids Wear 22% & LifeStyle 9% was 0.5% for Q2FY27 Same Stores Volume Revenue Mix Sales Growth Growth ABV was ₹ 891 in Q2FY
Slide 6: Key Operational Highlights H1 FY27
Key Operational Highlights H1 FY27 Same Stores Sales Growth (SSG) Volume growth for H1FY27 stood at Men’s Wear 41%, Ladies Wear 29% stood at ~(3.7%) for H1FY27 43% (Y-o-Y). Kids Wear 22% & LifeStyle 8% Same Stores Volume Revenue Mix Sales Growth Growth ABV was ₹ 917 in H1FY27 as ASP was ₹ 307 in H1F
Slide 7: V2 Retail Stores Across India
V2 RETAIL STORES ACROSS INDIA>~= —— AS ON 30 SEP 2026 ——— TOTAL STORES 427 STATES / REGIONS COVERED 27 CITIES COVERED No Daman and Diu 340+ == Nagar Haveli PAN INDIA PRESENCE From North to South, East to West TOP 5 STATES BY STORE COUNT STORE COUNT RANGE 67 61 WB 50 and above 35° 32 «28 @® 20-49 a i
Slide 8: Operational Parameters (Consolidated)
Operational Parameters (Consolidated) Inventory Breakup (₹ PSF ) Inventory (Days of Sales) Creditors (Days of Sales) 3,125 2,885 3,226 2,596 Net Working Capital (Days of Sales) Return on Equity (ROE) 7 7
Slide 9: Q2 & H1 FY27 Financial Highlights (Consolidated)
Q2 & H1 FY27 Financial Highlights (Consolidated) Revenue (₹ Cr) Gross Profit (₹ Cr) 29.8% 42% 28.7% 47% 1,903 31.1% 566 1,341 42% 28.0% 384 906 28% 709 281 198 33% Q2 FY27 Q2 FY26 H1FY27 H1FY26 Q2 FY27 Q2 FY26 H1FY27 H1FY26 EBIDTA (₹ Cr) PAT (₹ Cr) 13.6% 43% (20.1)% (11.1)% 12.9% 50% 13.3% 41% 260 6
Slide 10: Q2 & H1FY27 Profit & Loss - Consolidated
Q2 & H1FY27 Profit & Loss - Consolidated Y-O-Y Y-O-Y Particulars (₹ Cr) Q2 FY27 Q2 FY26 Q1 FY27 H1FY27 H1FY26 FY26 % Change % Change Revenue from Operations 905.6 708.6 28% 997.2 1,902.8 1,340.9 42% 3,067.1 Cost of M aterial Consumed 624.3 510.5 712.2 1,336.4 956.5 2,139.9 COGS 624.3 510.5 712.2 1,3
Slide 11: Q2 & H1 FY27 Profit & Loss – Consol. (Pre Ind As)
Q2 & H1 FY27 Profit & Loss – Consol. (Pre Ind As) Y-O-Y Y-O-Y Particulars (₹ Cr) Q2 FY27 Q2 FY26 Q1 FY27 H1FY27 H1FY26 FY26 % Change % Change Revenue from Operations 905.6 708.6 28% 997.2 1,902.8 1,340.9 42% 3,067.1 Cost of M aterial Consumed 624.3 508.9 712.2 1,336.4 953.9 2,136.7 Direct Expenses -
Slide 12: Balance Sheet – Consolidated
Balance Sheet – Consolidated Particulars (₹ in Cr) H1FY27 FY2026 Particulars (₹ in Cr) H1FY27 FY2026 ASSETS EQUITY AND LIABILITIES Non-current assets Equity Property, plant and equipment 413.6 309.7 Equity share capital 36.5 36.5 Capital Work in Progress 53.5 36.0 Other equity 925.2 865.9 Right to u
Slide 13: Cash Flow – Consolidated
Cash Flow – Consolidated Particulars (₹ in Cr) H1FY27 H1FY26 FY2026 PBT 76.4 54.2 214.6 Adjustments 203.0 134.5 284.0 Operating profit before working capital changes 279.3 188.8 498.6 Changes in working capital (261.4) (79.0) (549.3) Cash generated from operations 18.0 109.8 (50.7) Direct taxes paid
Slide 14: Media & Promotion Campaigns
Media & Promotion Campaigns 13 13
Slide 15: Media & Promotion Campaigns
Media & Promotion Campaigns 14 14
Slide 16: Media & Promotion Campaigns
Media & Promotion Campaigns 15 15
Slide 17: Select New Stores Opening
Select New Stores Opening 16 16
Slide 18: Select New Stores Opening
Select New Stores Opening 17 17
Slide 19: Corporate Overview
Corporate Overview Sustained Growth. STRONG BRAND EXPANDING REACH . PRODUCT EXCELLENCE cO> PEOPLE & CULTURE Deepening customer More stores, broader Trendy, quality fashion for | 77S) Empowered teams driving Stronger Tomorrow. love & loyalty presence everyday India sustainable growth Focused on Profi
Slide 20: About V2 Retail
About V2 Retail Overview Value & Variety Established in 2001 under the visionary Our motto 'Value & Variety' comes to life leadership of Mr. Ram Chandra Agarwal, through a wide-ranging product portfolio V2 Retail Limited was founded with the that delivers exceptional quality and mission to offer qua
Slide 21: Revenue Mix & Growth Drivers
Revenue Mix & Growth Drivers The key factors driving apparel business Revenue Mix (%) Occasions Drive 12% 12% 12% 8% 7% Functional Needs Purchases 24% 25% Discount| Offers| Sale| 27% 27% 26% Festivals | Weddings | Replace Old Clothes | Social Functions Fashion 27% 28% 25% 25% 26% 37% 37% 37% 40% 41%
Slide 22: Product Design to Customer Delight at Retail Stores
Product Design to Customer Delight at Retail Stores In House Product development Team of 60 including designers Mix of own designed products as well as procure 427 Stores in more than 340 high quality products at a Warehouse & cities and 27 states Job Work value Creating unique & trend Logistic sett
Slide 23: Store Experience
Store Experience 22 22
Slide 24: Store Experience
Store Experience Value & Variety
Slide 25: Store Experience
Store Experience Value & Variety 24
Slide 26: Board of Directors
Board of Directors Mr. Ram Chandra Agarwal, Ms. Uma Agarwal, Mr. Akash Agarwal, Chairman & Managing Director Whole Time Director Whole Time Director • Mr. Agarwal holds a bachelor’s degree in • Mrs. Agarwal holds a bachelor’s degree in • Mr. Akash Agarwal holds an International Commerce. Arts. MBA f
Slide 27: Independent Directors
Independent Directors Dr. Arun Kumar Roopanwal Mrs. Archana S Yadav Mr. Srinivas Anand Mannava Independent Director Independent Director Independent Director • He has over 35 Years of • A Chartered Accountant in • Post-Graduate Program in extensive experience in practice with more than 14 years Busi
Slide 28: Historical Financials & Operational Indicators
Historical Financials & Operational Indicators
Slide 29: Consolidated Profit & Loss
Consolidated Profit & Loss Particulars (₹ in Cr) FY2022 FY2023 FY2024 FY2025 FY2026 Revenue from Operations 629 839 1,165 1,884 3,067 Growth (%) 17% 33% 39% 62% 63% Gross Profit 202 260 346 551 927 GP Margin (%) 32% 31% 30% 29% 30% EBIDTA 65 84 148 258 455 EBIDTA Margin (%) 10% 10% 13% 14% 15% Other
Slide 30: Consolidated Profit & Loss (Pre IND AS)
Consolidated Profit & Loss (Pre IND AS) Particulars (₹ Cr) FY2022 FY2023 FY2024 FY2025 FY2026 Revenue from Operations 629 839 1,165 1,884 3,067 Growth (%) 17% 33% 39% 62% 63% Gross Profit 202 258 344 549 927 GP Margin % 32% 31% 30% 29% 30% EBIDTA 9 14 68 151 277 EBIDTA Margin % 2% 2% 6% 8% 9% Other
Slide 31: Consolidated Balance Sheet
Consolidated Balance Sheet Particulars (₹ in Cr) FY2026 FY2025 FY2024 Particulars (₹ in Cr) FY2026 FY2025 FY2024 ASSETS EQUITY AND LIABILITIES Non-current assets Equity Property, plant and equipment 310 210 116 Equity share capital 36 35 35 Capital Work in Progress 36 4 0 Other equity 866 312 240 Ri
Slide 32: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (₹ in Cr) FY2026 FY2025 FY2024 PBT 215 98 31 Adjustments 284 157 136 Operating profit before working capital changes 499 256 168 Changes in working capital (549) (29) (74) Cash generated from operations (51) 226 94 Direct taxes paid (net of refund) (53) (
Slide 33: Robust Financial Performance (Consolidated)
Robust Financial Performance (Consolidated) Revenue (₹ Cr) EBIDTA (₹ Cr) & EBIDTA Margin PBT (₹ Cr) PAT (₹ Cr) 32 32
Slide 34: Key Operating Matrix - Consolidated
Key Operating Matrix - Consolidated Store Count Retail Space (lakh sq.ft.) Sales Per Sq. Ft. (₹ Per Month) Rent Per Sq. Ft. (₹ Per Month) 33 33 33
Slide 35: Operational Parameters (Consolidated)
Operational Parameters (Consolidated) Inventory (Days of Sales) Creditors (Days of Sales) Net Working Capital (Days of Sales) Return on Equity (ROE) 34 34
Slide 36: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), which have been prepared by V2 Retail Ltd. (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and
Slide 37: Thank you / Investor relations contacts
Value & Variety ~ FASHION | FAMILY | EVERYDAY Ries e FOR YOUR CONTINUED TRUST AND SUPPORT INVESTOR RELATION ADVISOR COMPAN Dr. Rahul Porwal / Mr. Amit Porwal Mr. Shivam Aggarwal Marathon Capital Advisory Private Limited Company Secretary & Compliance Officer @ +91-22-40030610 / 9967576900 / 98197739