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Swing Capital

Vishal Mega Mart Ltd

NSE: VMM BSE: 544307Textile

Incorporated In 2001, Vishal Mega Mart is a hypermarket chain that sells a wide range of products like apparel, groceries, electronics, and home essentials.[1]

₹122
52W: ₹98.7 — ₹158
PE 86.6 · Book ₹15 · +713% vs book
Market Cap₹56,850 Cr
Stock P/E86.6Price to Earnings
ROCE13.2%Return on Capital
ROE9.92%Return on Equity
Div. Yield0%Face Value ₹10

Strengths

  • +Company is almost debt free.
  • +Company has delivered good profit growth of 75.9% CAGR over last 5 years

Weaknesses

  • −Stock is trading at 8.15 times its book value
  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −Promoter holding has decreased over last quarter: -14.0%
  • −Company has a low return on equity of 7.89% over last 3 years.
  • −Working capital days have increased from 82.0 days to 124 days

Shareholding Pattern

Promoters40.12%
FIIs22.01%
DIIs32.74%
Public5.13%
CategoryDec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters76.02%74.55%▼1.554.22%▼20.354.11%▼0.154.09%▼0.040.12%▼14.0
FIIs6.58%7.03%▲0.512.85%▲5.815.4%▲2.615.52%▲0.122.01%▲6.5
DIIs9.9%12.22%▲2.327.31%▲15.125.42%▼1.925.47%▲0.032.74%▲7.3
Public7.51%6.2%▼1.35.61%▼0.65.08%▼0.54.92%▼0.25.13%▲0.2

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales1,8141,5051,6681,4181,3921,4691,6691,7461,5701,645
Expenses1,6071,3841,4571,2461,1911,2931,4031,5411,3021,395
Operating Profit207121211172201175267206269250
OPM %11%8%13%12%14%12%16%12%17%15%
Net Profit13163131105130107177131182167
EPS ₹0.290.140.290.230.290.230.380.280.390.36

AI Insights

Revenue Trend

Mar 2026 revenue at ₹6,631Cr, up 11.5% YoY. OPM at 15%.

Debt Position

Borrowings at ₹133Cr. Debt-to-equity ratio: 0.06x. Healthy balance sheet.

Capex Cycle

CWIP at ₹23Cr (0% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 32.74% (+22.84pp change). FIIs: 22.01% (+15.43pp change). Promoters hold 40.12%.

Margin & Efficiency

ROCE improving from 0% (Mar 2020) to 13% (Mar 2026). Working capital days: 124.

Valuation

PE 86.6x with 13.2% ROCE. Price is 713% above book value of ₹15. Dividend yield: 0%.

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