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Swing Capital

V2 Retail Ltd

NSE: V2RETAIL BSE: 532867Textile

Company primarily operates in Tier-II and Tier-III cities, with a chain of “V2 Retail” stores offering apparel and general merchandise, catering to the entire family.[1]

₹217
52W: ₹157 — ₹257
PE 58.3 · Book ₹10.7 · +1928% vs book
Market Cap₹7,924 Cr
Stock P/E58.3Price to Earnings
ROCE16.8%Return on Capital
ROE22.9%Return on Equity
Div. Yield0%Face Value ₹1

Strengths

  • +Company is expected to give good quarter
  • +Company has delivered good profit growth of 105% CAGR over last 5 years
  • +Company's median sales growth is 25.9% of last 10 years
  • +Company's working capital requirements have reduced from 37.1 days to 18.8 days

Weaknesses

  • −Stock is trading at 20.1 times its book value
  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −Company has a low return on equity of 10.1% over last 3 years.
  • −Company might be capitalizing the interest cost

Shareholding Pattern

Promoters51.43%
FIIs2.62%
DIIs9.28%
Public36.67%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters54.3%54.3%54.3%54.24%▼0.154.22%▼0.054.22%51.43%▼2.851.43%
FIIs6.69%0.8%▼5.90.91%▲0.11.31%▲0.41.9%▲0.62.1%▲0.23.01%▲0.92.62%▼0.4
DIIs0.43%4.34%▲3.95.98%▲1.66.7%▲0.77.35%▲0.67.12%▼0.29.12%▲2.09.28%▲0.2
Public38.6%40.57%▲2.038.82%▼1.837.75%▼1.136.53%▼1.236.56%▲0.036.45%▼0.136.67%▲0.2

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales231374296415380591499630705927
Expenses213313266362349480441539619750
Operating Profit1961305331111579086177
OPM %8%16%10%13%8%19%11%14%12%19%
Net Profit-624416-3517281899
EPS ₹-0.160.70.110.46-0.071.470.190.80.522.72

AI Insights

Revenue Trend

TTM revenue at ₹2,760Cr, up 46.5% YoY. OPM at 15%.

Debt Position

Borrowings at ₹1,309Cr. Debt-to-equity ratio: 3.69x. High leverage — monitor closely.

Capex Cycle

CWIP at ₹4Cr (0% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 9.28% (+8.91pp change). FIIs: 2.62% (-3.75pp change). Promoters hold 51.43%.

Margin & Efficiency

ROCE improving from 1% (Mar 2014) to 17% (Mar 2025). Working capital days: 19.

Valuation

PE 58.3x with 16.8% ROCE. Price is 1928% above book value of ₹10.7. Dividend yield: 0%.

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