India's Richest People 2026 edition · 1 director · Source: Hurun India
- #709 Ram Chandra Agarwal & family ₹4,500 Cr
Market Cap
₹6,113 Cr
V2RETAIL · NSE
Share Price
₹170.14
+1.49% today
Revenue
₹3,067 Cr
FY 2025-26 · +62.8% YoY
EBITDA
₹459 Cr
Margin 15.0%
Net Profit
₹143 Cr
FY 2025-26 · +97.7% YoY
P/E (TTM)
40.2x
P/B 7.1x
ROE
14.2%
ROCE 15.1%
Debt / Equity
1.49
Interest cover 36.3x
About V2 Retail Limited
Data last updated:
V2 Retail Limited is a public limited company based in New Delhi, Delhi, India. It operates in the fashion retail segment of the fashion and textiles sector. It was incorporated on 23 July 2001 and has been in existence for over 25 years.
Its director Ram Chandra Agarwal and family are #709 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Delhi, under CIN L74999DL2001PLC147724. Its GSTIN is 07AABCV5632P1ZV (Delhi). The company holds 28 GST registrations, of which 21 are active. It is a listed company as per MCA records. Its shares are listed on BSE: 532867 and NSE: V2RETAIL.
The company has an authorised share capital of ₹45.84 Cr and a paid-up capital of ₹36.46 Cr. It was formerly known as Vishal Retail Limited and Vishal Retail Private Limited. It is led by directors including Ram Chandra Agarwal (Managing Director) and Uma Agarwal (Whole-Time Director).
Its last annual general meeting (AGM) was held on 05 September 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at Khasra No. 928 Extended Lal Dora Abadi Village Kapashera Tehsil Vasant Vihar, New Delhi, Delhi, India – 110037.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹3,067.05 Cr, a growth of 62.8% compared to the previous year. For the same year it recorded a net profit of ₹142.88 Cr (net margin 4.7%) and EBITDA of ₹459.21 Cr (EBITDA margin 15%). The net worth stands at ₹902.33 Cr (up 160.6% YoY). Total assets are valued at ₹1,909.22 Cr (up 55.7% YoY).
The company has about 2,742 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary.
The company is associated with 1 brand: V2-Retail. As per MCA filings, the company has open charges of ₹291.13 Cr and satisfied charges of ₹1,021.92 Cr on record. Court records list 330 cases involving the company, including 126 filed by the company and 204 filed against it; 55 cases are pending. The company has 62 deals on record (54 market trades, 3 secondary share transfers, 3 funding rounds), with disclosed funding of ₹51.09 Cr; the latest was in November 2025. Its 7 peer companies in the Apparel industry (Apparel Retail and Distribution), with the same principal business activity (retail trading) are compared by revenue, 3 larger and 4 smaller; the largest is Inditex Trent Retail India Private Limited with revenue of ₹2,839.5 Cr. The company has 19 MSME Form 1 returns on record between 2018 and 2023, listing 276 overdue payments to 36 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website v2retail.com.
Company details
CIN L74999DL2001PLC147724
Registration Number 147724
Incorporation Date 23 July 2001
ROC Delhi
Listing Status Listed - Listed on NSE (V2RETAIL); Listed on BSE (532867)
Company Status Active
Date of Last AGM 05 September 2025
Date of Balance Sheet 31 March 2026
Compliance Status Active Compliant
Name history
V2 Retail has undergone 2 name changes throughout its history. The company was previously known as Vishal Retail Limited, and Vishal Retail Private Limited. The current legal name is V2 Retail Limited.
| Company Name | Status |
|---|---|
| V2 Retail Limited | Current |
| Vishal Retail Limited | Previous |
| Vishal Retail Private Limited | Previous |
CIN history
V2 Retail has one previous CIN (Corporate Identification Number): U74999DL2001PLC147724. The current CIN is L74999DL2001PLC147724, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L74999DL2001PLC147724 | Current |
| U74999DL2001PLC147724 | Previous |
Key People
Ram Chandra Agarwal Managing Director Uma Agarwal Whole-Time Director Akash Agarwal Whole-Time Director Recognitions & Rankings of V2 Retail
Contact details
V2 Retail Limited's registered office is in New Delhi, Delhi. Its website is v2retail.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressKhasra No. 928 Extended Lal Dora Abadi Village Kapashera Tehsil Vasant Vihar, New Delhi, Delhi, India – 110037
- IndustryFashion and Textile, Fashion Retail
To see the full contact details of V2 Retail Limited, buy the company report.
Comprehensive company report
V2 Retail Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
₹799 ₹999 20% off excluding 18% GST
Secure checkout · GST invoice included
Brands
V2 Retail operates one associated brand: V2-Retail. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| A chain of apparel stores is operated in India. | v2retail.com |
Business activity
The main business activity of V2 Retail is trade. In detail, this covers retail trading.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| G | Trade | G2 | Retail Trading |
To see the full business activity and turnover split of V2 Retail Limited, buy the company report.
Financials of V2 Retail Limited
FY 2025-26 filings availableV2 Retail Limited reported revenue of ₹3,067.05 Cr (up 62.8% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue
₹3,067 Cr
+62.8% YoY
EBITDA
₹459 Cr
+76.8% YoY
Profit After Tax
₹143 Cr
+97.6% YoY
Net Worth
₹902 Cr
+160.6% YoY
Total Assets
₹1,909 Cr
+55.7% YoY
Total Debt
₹995 Cr
+14.1% YoY
Revenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 3,067 | 1,884 | 1,165 | 839 | 629 | 539 | 701 |
| Revenue growth | +62.8% | +61.8% | +38.8% | +33.3% | +16.8% | -23.2% | - |
| EBITDA | 459 | 260 | 149 | 85.46 | 67.01 | 49.93 | 77.42 |
| EBITDA margin | +15.0% | +13.8% | +12.8% | +10.2% | +10.7% | +9.3% | +11.0% |
| Profit before tax | 215 | 98.22 | 31.38 | (16.94) | (14.87) | (15.28) | 8.67 |
| Net profit | 143 | 72.29 | 27.64 | (12.91) | (11.85) | (12.83) | (3.77) |
| Net profit margin | +4.7% | +3.8% | +2.4% | -1.5% | -1.9% | -2.4% | -0.5% |
| EPS (₹) | 4.44 | 20.83 | 8.04 | (3.73) | (3.40) | (3.77) | 2.57 |
| Balance sheet | |||||||
| Total assets | 1,909 | 1,226 | 806 | 675 | 660 | 668 | 608 |
| Net worth | 902 | 346 | 275 | 247 | 258 | 269 | 279 |
| Total debt | 995 | 871 | 525 | 424 | 398 | 396 | 326 |
| Cash & bank | 6.63 | 9.40 | 9.89 | 5.14 | 7.40 | 22.60 | 67.53 |
| Net working capital | 807 | 284 | 266 | 208 | 211 | 216 | 195 |
| Cash flow | |||||||
| Cash from operations | (103) | 201 | 93.17 | 86.36 | 58.61 | 3.37 | 74.10 |
| Cash from investing | (219) | (130) | (39.05) | (12.27) | (15.71) | (20.30) | 6.54 |
| Cash from financing | 319 | (71.24) | (49.60) | (75.70) | (58.29) | (21.64) | (28.43) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 997 | 797 | 929 | 709 | 632 | 499 | 591 | 380 |
| Revenue growth (YoY) | +57.7% | +59.9% | +57.2% | +86.5% | +52.3% | - | - | - |
| Other income | 0.99 | 4.08 | 31.97 | 1.08 | 0.92 | 1.86 | 1.19 | 2.51 |
| EBITDA | 139 | 109 | 174 | 85.44 | 87.24 | 57.82 | 111 | 33.06 |
| EBITDA margin | +14.0% | +13.7% | +18.7% | +12.1% | +13.8% | +11.6% | +18.9% | +8.7% |
| Depreciation | 63.87 | 66.78 | 45.74 | 37.58 | 32.09 | 27.94 | 26.32 | 23.03 |
| Interest | 24.99 | 24.03 | 21.96 | 27.99 | 22.77 | 21.40 | 17.83 | 14.97 |
| Profit before tax | 51.60 | 22.39 | 138 | 20.95 | 33.30 | 10.34 | 68.52 | (2.43) |
| Tax | 9.73 | 4.87 | 35.31 | 3.72 | 8.63 | 3.91 | 17.34 | (0.49) |
| Net profit | 41.87 | 17.52 | 103 | 17.23 | 24.67 | 6.43 | 51.18 | (1.94) |
| EPS (₹) | 1.15 | 0.50 | 29.17 | 4.95 | 7.13 | 1.86 | 14.80 | (0.56) |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 3,060 | 1,884 | 1,165 | 839 | 629 | 539 | 701 |
| Revenue growth | +62.4% | +61.8% | +38.8% | +33.3% | +16.8% | -23.2% | - |
| EBITDA | 460 | 254 | 144 | 80.29 | 63.08 | 50.16 | 78.58 |
| EBITDA margin | +15.0% | +13.5% | +12.3% | +9.6% | +10.0% | +9.3% | +11.2% |
| Profit before tax | 216 | 96.71 | 30.58 | (18.84) | (16.37) | (13.09) | 10.47 |
| Net profit | 148 | 70.79 | 27.10 | (14.59) | (13.28) | (11.08) | (2.08) |
| Net profit margin | +4.8% | +3.8% | +2.3% | -1.7% | -2.1% | -2.1% | -0.3% |
| EPS (₹) | 4.48 | 20.50 | 7.89 | (4.21) | (3.75) | (3.24) | 2.97 |
| Balance sheet | |||||||
| Total assets | 1,909 | 1,214 | 783 | 662 | 648 | 663 | 594 |
| Net worth | 902 | 345 | 275 | 247 | 260 | 272 | 281 |
| Total debt | 995 | 861 | 502 | 410 | 384 | 388 | 311 |
| Cash & bank | 6.23 | 7.94 | 6.65 | 2.15 | 6.80 | 15.84 | 67.50 |
| Net working capital | 802 | 282 | 261 | 200 | 204 | 209 | 187 |
| Cash flow | |||||||
| Cash from operations | (96.24) | 191 | 85.31 | 79.99 | 61.27 | (15.38) | 94.33 |
| Cash from investing | (231) | (128) | (28.70) | (9.11) | (11.65) | (15.88) | (5.32) |
| Cash from financing | 325 | (61.80) | (52.33) | (74.89) | (58.85) | (14.04) | (36.83) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 997 | 798 | 927 | 705 | 630 | 499 | 591 | 380 |
| Revenue growth (YoY) | +58.4% | +60.1% | +56.9% | +85.5% | +51.7% | - | - | - |
| Other income | 0.99 | 3.70 | 25.66 | 0.47 | 0.76 | 1.32 | 0.44 | 2.39 |
| Total expenses | 858 | 689 | 750 | 619 | 539 | 441 | 480 | 349 |
| EBITDA | 140 | 109 | 177 | 85.84 | 90.47 | 57.27 | 111 | 30.77 |
| EBITDA margin | +14.0% | +13.7% | +19.1% | +12.2% | +14.4% | +11.5% | +18.8% | +8.1% |
| Depreciation | 63.87 | 66.78 | 45.45 | 37.30 | 31.69 | 27.16 | 25.61 | 21.80 |
| Interest | 24.99 | 24.03 | 21.88 | 27.91 | 22.40 | 20.95 | 17.52 | 14.52 |
| Profit before tax | 51.64 | 22.11 | 135 | 21.10 | 37.14 | 10.48 | 68.19 | (3.16) |
| Tax | 9.73 | 3.92 | 35.89 | 3.01 | 9.40 | 3.81 | 17.31 | (0.66) |
Financial Statements
Figures in ₹ Cr; negatives in brackets. Updated 22 Oct 2026
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 997 | 797 | 929 | 709 | 632 | 499 | 591 | 380 |
| Revenue growth (YoY) | +57.7% | +59.9% | +57.2% | +86.5% | +52.3% | - | - | - |
| Other income | 0.99 | 4.08 | 31.97 | 1.08 | 0.92 | 1.86 | 1.19 | 2.51 |
| EBITDA | 139 | 109 | 174 | 85.44 | 87.24 | 57.82 | 111 | 33.06 |
| EBITDA margin | +14.0% | +13.7% | +18.7% | +12.1% | +13.8% | +11.6% | +18.9% | +8.7% |
| Depreciation | 63.87 | 66.78 | 45.74 | 37.58 | 32.09 | 27.94 | 26.32 | 23.03 |
| Interest | 24.99 | 24.03 | 21.96 | 27.99 | 22.77 | 21.40 | 17.83 | 14.97 |
| Profit before tax | 51.60 | 22.39 | 138 | 20.95 | 33.30 | 10.34 | 68.52 | (2.43) |
| Tax | 9.73 | 4.87 | 35.31 | 3.72 | 8.63 | 3.91 | 17.34 | (0.49) |
| Net profit | 41.87 | 17.52 | 103 | 17.23 | 24.67 | 6.43 | 51.18 | (1.94) |
| EPS (₹) | 1.15 | 0.50 | 29.17 | 4.95 | 7.13 | 1.86 | 14.80 | (0.56) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 3,067 | 1,884 | 1,165 | 839 | 629 | 539 | 701 |
| Revenue growth | +62.8% | +61.8% | +38.8% | +33.3% | +16.8% | -23.2% | - |
| Other income | 38.05 | 6.96 | 7.49 | 6.67 | 15.89 | 22.97 | 15.02 |
| Total expenses | 2,608 | 1,625 | 1,016 | 753 | 562 | 489 | 624 |
| Employee cost | 244 | 159 | 105 | 88.61 | 63.00 | 50.68 | 62.93 |
| EBITDA | 459 | 260 | 149 | 85.46 | 67.01 | 49.93 | 77.42 |
| EBITDA margin | +15.0% | +13.8% | +12.8% | +10.2% | +10.7% | +9.3% | +11.0% |
| Depreciation | 182 | 98.65 | 76.71 | 67.05 | 58.83 | 55.51 | 50.98 |
| Interest | 100 | 69.83 | 48.54 | 42.02 | 38.94 | 32.67 | 32.79 |
| Profit before tax | 215 | 98.22 | 31.38 | (16.94) | (14.87) | (15.28) | 8.67 |
| Tax | 52.54 | 26.19 | 3.56 | (4.13) | (3.18) | (2.45) | (0.11) |
| Net profit | 143 | 72.29 | 27.64 | (12.91) | (11.85) | (12.83) | (3.77) |
| Net profit margin | +4.7% | +3.8% | +2.4% | -1.5% | -1.9% | -2.4% | -0.5% |
| EPS (₹) | 4.44 | 20.83 | 8.04 | (3.73) | (3.40) | (3.77) | 2.57 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 36.46 | 34.59 | 34.59 | 34.39 | 34.39 | 34.11 | 34.11 |
| Reserves & surplus | 866 | 312 | 240 | 213 | 224 | 235 | 245 |
| Shareholders' funds (net worth) | 902 | 346 | 275 | 247 | 258 | 269 | 279 |
| Minority interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Secured loans | 153 | 102 | 82.25 | 46.48 | 48.93 | 53.80 | 33.11 |
| Unsecured loans | 842 | 770 | 443 | 377 | 349 | 342 | 293 |
| Total debt | 995 | 871 | 525 | 424 | 398 | 396 | 326 |
| Total liabilities | 1,909 | 1,226 | 806 | 675 | 660 | 668 | 608 |
| Assets | |||||||
| Gross block | 1,413 | 1,280 | 821 | 680 | 681 | 624 | 513 |
| Net block | 968 | 863 | 480 | 408 | 394 | 395 | 339 |
| Capital work in progress | 35.98 | 4.15 | 0.23 | 0.41 | 0.00 | 4.62 | 4.11 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Inventories | 1,142 | 558 | 419 | 279 | 291 | 302 | 215 |
| Sundry debtors | 1.58 | 0.10 | 0.06 | 0.07 | 1.32 | 0.66 | 0.01 |
| Cash & bank balances | 6.63 | 9.40 | 9.89 | 5.14 | 7.40 | 22.60 | 67.53 |
| Loans & advances | 170 | 89.37 | 57.63 | 41.79 | 43.28 | 35.78 | 25.13 |
| Total current assets | 1,320 | 657 | 486 | 326 | 343 | 361 | 308 |
| Total current liabilities | 513 | 373 | 221 | 118 | 132 | 145 | 113 |
| Net working capital | 807 | 284 | 266 | 208 | 211 | 216 | 195 |
| Total assets | 1,909 | 1,226 | 806 | 675 | 660 | 668 | 608 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 9.01 | 9.45 | 4.92 | 6.54 | 21.93 | 60.49 | 8.29 |
| Net cash from operating activities | (103) | 201 | 93.17 | 86.36 | 58.61 | 3.37 | 74.10 |
| Net cash from investing activities | (219) | (130) | (39.05) | (12.27) | (15.71) | (20.30) | 6.54 |
| Net cash from financing activities | 319 | (71.24) | (49.60) | (75.70) | (58.29) | (21.64) | (28.43) |
| Net change in cash | (3.06) | (0.43) | 4.53 | (1.62) | (15.39) | (38.56) | 52.21 |
| Closing cash | 6.63 | 9.40 | 9.89 | 5.14 | 7.40 | 22.60 | 67.53 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +62.8% | +61.8% | +38.8% | +33.3% | +16.8% | -23.2% | - |
| EBITDA growth | +76.8% | +74.2% | +74.5% | +27.5% | +34.2% | -35.5% | - |
| PBT growth | +118.5% | +213.0% | +9998.0% | -13.9% | +2.7% | - | -52.9% |
| Net income growth | +97.7% | +161.5% | +314.1% | -9.0% | +7.6% | -240.3% | - |
| Revenue CAGR (3Y) | +54.1% | +44.1% | +29.3% | +6.2% | +29.9% | +33.0% | +85.4% |
| EBITDA CAGR (3Y) | +75.2% | +57.1% | +44.0% | +3.4% | +33.3% | +116.1% | - |
| Profitability & leverage | |||||||
| Net income margin | +5.3% | +3.8% | +2.4% | -1.5% | -1.9% | -2.4% | +1.3% |
| Return on capital employed | +15.1% | +10.2% | +7.4% | 0.0% | 0.0% | 0.0% | +2.3% |
| Return on net worth | +14.2% | +7.6% | +4.7% | 0.0% | 0.0% | 0.0% | -0.4% |
| Debt / equity | 1.49 | 2.25 | 1.82 | 1.63 | 1.51 | 1.32 | 1.17 |
| Long-term debt / equity | 1.03 | 1.77 | 1.42 | 1.29 | 1.18 | 1.07 | 0.99 |
| Interest cover | 36.27 | 43.35 | 67.02 | 228.25 | 476.04 | -585.48 | 124.02 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 2.28 | 1.79 | 1.55 | 1.23 | 0.96 | 0.95 | 1.37 |
| Inventory turnover | 3.61 | 3.86 | 3.34 | 2.95 | 2.12 | 2.08 | 3.26 |
| Debtors turnover | 3,651.25 | 23,556.25 | 17,918.92 | 1,207.02 | 635.58 | 1,607.91 | 70,123.00 |
| EPS (₹) | 4.44 | 20.83 | 8.04 | (3.73) | (3.40) | (3.77) | 2.57 |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 24.75 | 100.12 | 79.42 | 71.80 | 75.08 | 78.78 | 81.86 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 997 | 798 | 927 | 705 | 630 | 499 | 591 | 380 |
| Revenue growth (YoY) | +58.4% | +60.1% | +56.9% | +85.5% | +51.7% | - | - | - |
| Other income | 0.99 | 3.70 | 25.66 | 0.47 | 0.76 | 1.32 | 0.44 | 2.39 |
| Total expenses | 858 | 689 | 750 | 619 | 539 | 441 | 480 | 349 |
| EBITDA | 140 | 109 | 177 | 85.84 | 90.47 | 57.27 | 111 | 30.77 |
| EBITDA margin | +14.0% | +13.7% | +19.1% | +12.2% | +14.4% | +11.5% | +18.8% | +8.1% |
| Depreciation | 63.87 | 66.78 | 45.45 | 37.30 | 31.69 | 27.16 | 25.61 | 21.80 |
| Interest | 24.99 | 24.03 | 21.88 | 27.91 | 22.40 | 20.95 | 17.52 | 14.52 |
| Profit before tax | 51.64 | 22.11 | 135 | 21.10 | 37.14 | 10.48 | 68.19 | (3.16) |
| Tax | 9.73 | 3.92 | 35.89 | 3.01 | 9.40 | 3.81 | 17.31 | (0.66) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 3,060 | 1,884 | 1,165 | 839 | 629 | 539 | 701 |
| Revenue growth | +62.4% | +61.8% | +38.8% | +33.3% | +16.8% | -23.2% | - |
| Other income | 36.59 | 5.37 | 6.87 | 6.15 | 15.58 | 22.16 | 14.81 |
| Total expenses | 2,600 | 1,630 | 1,021 | 759 | 566 | 488 | 623 |
| Employee cost | 240 | 138 | 92.65 | 81.68 | 57.61 | 47.68 | 62.31 |
| EBITDA | 460 | 254 | 144 | 80.29 | 63.08 | 50.16 | 78.58 |
| EBITDA margin | +15.0% | +13.5% | +12.3% | +9.6% | +10.0% | +9.3% | +11.2% |
| Depreciation | 181 | 94.74 | 72.53 | 63.93 | 56.59 | 53.79 | 50.45 |
| Interest | 99.95 | 68.15 | 47.44 | 41.35 | 38.44 | 31.62 | 32.47 |
| Profit before tax | 216 | 96.71 | 30.58 | (18.84) | (16.37) | (13.09) | 10.47 |
| Tax | 52.22 | 25.81 | 3.30 | (4.35) | (3.46) | (2.05) | 0.33 |
| Net profit | 148 | 70.79 | 27.10 | (14.59) | (13.28) | (11.08) | (2.08) |
| Net profit margin | +4.8% | +3.8% | +2.3% | -1.7% | -2.1% | -2.1% | -0.3% |
| EPS (₹) | 4.48 | 20.50 | 7.89 | (4.21) | (3.75) | (3.24) | 2.97 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 36.46 | 34.59 | 34.59 | 34.39 | 34.39 | 34.11 | 34.11 |
| Reserves & surplus | 866 | 310 | 240 | 213 | 226 | 238 | 246 |
| Shareholders' funds (net worth) | 902 | 345 | 275 | 247 | 260 | 272 | 281 |
| Secured loans | 153 | 97.73 | 77.42 | 46.48 | 48.93 | 50.50 | 23.98 |
| Unsecured loans | 842 | 763 | 425 | 364 | 335 | 338 | 287 |
| Total debt | 995 | 861 | 502 | 410 | 384 | 388 | 311 |
| Total liabilities | 1,909 | 1,214 | 783 | 662 | 648 | 663 | 594 |
| Assets | |||||||
| Gross block | 1,403 | 1,244 | 779 | 655 | 657 | 609 | 503 |
| Net block | 968 | 842 | 449 | 389 | 375 | 382 | 330 |
| Capital work in progress | 35.98 | 4.15 | 0.23 | 0.41 | 0.00 | 4.62 | 4.11 |
| Investments | 5.45 | 15.00 | 15.00 | 15.00 | 15.00 | 15.00 | 15.00 |
| Inventories | 1,140 | 526 | 360 | 246 | 267 | 265 | 196 |
| Sundry debtors | 0.00 | 0.01 | 0.06 | 0.07 | 1.32 | 0.69 | 12.99 |
| Cash & bank balances | 6.23 | 7.94 | 6.65 | 2.15 | 6.80 | 15.84 | 67.50 |
| Loans & advances | 168 | 112 | 77.69 | 54.78 | 52.32 | 57.54 | 23.26 |
| Total current assets | 1,315 | 646 | 444 | 303 | 328 | 339 | 300 |
| Total current liabilities | 513 | 363 | 183 | 103 | 124 | 130 | 113 |
| Net working capital | 802 | 282 | 261 | 200 | 204 | 209 | 187 |
| Total assets | 1,909 | 1,214 | 783 | 662 | 648 | 663 | 594 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 7.56 | 6.21 | 1.94 | 5.94 | 15.17 | 60.46 | 8.29 |
| Net cash from operating activities | (96.24) | 191 | 85.31 | 79.99 | 61.27 | (15.38) | 94.33 |
| Net cash from investing activities | (231) | (128) | (28.70) | (9.11) | (11.65) | (15.88) | (5.32) |
| Net cash from financing activities | 325 | (61.80) | (52.33) | (74.89) | (58.85) | (14.04) | (36.83) |
| Net change in cash | (2.01) | 1.34 | 4.27 | (4.00) | (9.23) | (45.29) | 52.18 |
| Closing cash | 6.23 | 7.94 | 6.65 | 2.15 | 6.80 | 15.84 | 67.50 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +62.4% | +61.8% | +38.8% | +33.3% | +16.8% | -23.2% | - |
| EBITDA growth | +81.0% | +76.9% | +79.0% | +27.3% | +25.8% | -36.2% | - |
| PBT growth | +122.9% | +216.3% | +9998.0% | -15.1% | -25.1% | - | -30.4% |
| Net income growth | +108.5% | +161.2% | +285.7% | -9.9% | -19.9% | -432.7% | - |
| Revenue CAGR (3Y) | +53.9% | +44.1% | +29.3% | +6.2% | -5.6% | -1.3% | +14.1% |
| EBITDA CAGR (3Y) | +79.0% | +59.1% | +42.0% | +0.7% | +40.7% | -2.3% | +22.3% |
| Profitability & leverage | |||||||
| Net income margin | +5.3% | +3.8% | +2.3% | -1.7% | -2.1% | -2.1% | +1.5% |
| Return on capital employed | +15.2% | +10.1% | +7.4% | 0.0% | 0.0% | 0.0% | +2.7% |
| Return on net worth | +14.3% | +7.5% | +4.6% | 0.0% | 0.0% | 0.0% | -0.2% |
| Debt / equity | 1.49 | 2.20 | 1.75 | 1.57 | 1.45 | 1.27 | 0.56 |
| Long-term debt / equity | 1.02 | 1.72 | 1.36 | 1.24 | 1.14 | 1.04 | 0.46 |
| Interest cover | 35.84 | 42.73 | 66.68 | 252.75 | 592.30 | -871.07 | 115.43 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 2.31 | 1.86 | 1.62 | 1.28 | 0.99 | 0.97 | 2.19 |
| Inventory turnover | 3.67 | 4.25 | 3.84 | 3.27 | 2.36 | 2.33 | 3.00 |
| Debtors turnover | 6,12,006.00 | 53,842.86 | 17,918.92 | 1,207.02 | 626.09 | 78.75 | 107.96 |
| EPS (₹) | 4.48 | 20.50 | 7.89 | (4.21) | (3.75) | (3.24) | 2.97 |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 24.75 | 99.74 | 79.37 | 71.89 | 75.65 | 79.71 | 82.26 |
To see the full year-wise statements and ratios of V2 Retail Limited, buy the company report.
Board of directors of V2 Retail Limited
V2 Retail has 6 current directors and 31 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Uma Agarwal | Whole-Time Director | 23 Jul 2001 | 25 Years 3 Months | Current |
| Akash Agarwal Also directs: V2 Smart Manufacturing Private Limited, V2 Conglomerate Limited, Regrow International Private Limited and 2 more | Whole-Time Director | 29 Sep 2017 | 9 Years 0 Months | Current |
| Arun Kumar Roopanwal | Director | 27 Jan 2020 | 6 Years 8 Months | Current |
| Ram Chandra Agarwal Also directs: V2 Smart Manufacturing Private Limited, Ricon Commodities Pvt.Ltd., VRL Retailer Business Solutions Private Limited and 1 more | Managing Director | 23 Jul 2001 | 25 Years 3 Months | Current |
| Archana Surendra Yadav Also directs: V2 Smart Manufacturing Private Limited, Lyka Labs Limited, Systematic Industries Limited and 1 more | Director | 27 Jan 2020 | 6 Years 8 Months | Current |
| Srinivas Anand Mannava | Director | 10 Feb 2023 | 3 Years 8 Months | Current |
Peer comparison
V2 Retail Limited is compared with the 7 companies closest to it by revenue in the Apparel industry (Apparel Retail and Distribution), with the same principal business activity (retail trading), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| V2 Retail Limitedthis company | ₹3,067.05 Cr (FY 2026) | ₹142.88 Cr | 4.7% | 62.8% | 2,742 | New Delhi, Delhi, India |
| Inditex Trent Retail India Private Limited | ₹2,839.5 Cr (FY 2025) | 2.0% | Gurgaon, Haryana, India | |||
| Future Lifestyle Fashions Limited | ₹2,738.14 Cr (FY 2022) | 18.0% | Mumbai, Maharashtra, India | |||
| RSB Retail India Limited | ₹2,718.34 Cr (FY 2025) | 10.0% | Hyderabad, Telangana, India | |||
| Sai Silks (Kalamandir) Limited | ₹1,486.08 Cr (FY 2025) | 6.0% | Hyderabad, Telangana, India | |||
| PVH Arvind Fashion Private Limited | ₹1,424 Cr (FY 2025) | 13.0% | Ahmedabad, Gujarat, India | |||
| Kalyan Silks Trichur Private Limited | ₹1,351.13 Cr (FY 2024) | -1.0% | Thrissur, Kerala, India | |||
| Jeyachandran Retail Private Limited | ₹1,277.3 Cr (FY 2024) | 28.0% | Chennai, Tamil Nadu, India |
To see the full peer comparison of V2 Retail Limited, buy the company report.
Auditor
V2 Retail Limited is audited by Singhi & Co. for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Singhi & Co. | FY 2023 | 302049E |
Shareholding
Shareholding for the quarter ended Sep 2026: promoters hold 51.40%, foreign institutional investors hold 3.10%, domestic institutional investors hold 10.70% and retail and other public shareholders hold 34.80%.
Sep 2026
QUARTER
51.40% Promoters
10.70% DII (Domestic Institutional)
3.10% FII (Foreign Institutional)
34.80% Retail & Others
Promoter holding - history
Now 51.40% · Sep 2026High 54.20% · Dec 2025Low 51.40% · Mar 2026
Shareholding trend - last 6 quarters
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|---|
| Promoters | 51.40% | 51.40% | 51.40% | 54.20% |
| Public | 48.60% | 48.60% | 48.60% | 45.80% |
Charges & borrowings
Open charges
₹291.13 Cr
Satisfied charges
₹1,021.92 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 26 Aug 2026 | 101371563 | Others | ₹9.8 Cr | Open | |
| 11 Aug 2026 | 101373756 | Others | ₹75 Cr | Open | |
| 21 Jul 2026 | 101364602 | Hdfc Bank Limited | ₹50 Cr | Open | |
| 04 Feb 2026 | 101238185 | Hdfc Bank Limited | ₹7 Cr | Open | |
| 03 Feb 2026 | 101243569 | Others | ₹69.9 Lakh | Open |
To see the full charge records of V2 Retail Limited, buy the company report.
Total charge records: 40 View all charges
Deals & funding
V2 Retail Limited has 62 deals on record (54 market trades, 3 secondary share transfers, 3 funding rounds), with disclosed funding of ₹51.09 Cr; the latest was in November 2025.
Total deals
62
Market trades
54
Secondary share transfers
3
Funding rounds
3
IPO
1
Disclosed funding
₹51.09 Cr
Deals on record (5 of 62)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Nov 2025 | QIP | ₹400 Cr | Investors: Others - QIP Investors, Subhkam Ventures (I) Private Limited , Malabar India Fund Limited, an individual |
| Aug 2024 | Market trade | ₹73.93 Cr | Buyer: F3 Advisors Private Limited Seller: India 2020 Fund Ii,Limited |
| Aug 2024 | Secondary share transfer | Undisclosed | Buyer: F3 Advisors Private Limited Seller: Lighthouse Fund |
| Aug 2024 | Market trade | ₹19.37 Cr | Buyer: Miv Investment Services Private Limited |
| Feb 2021 | Market trade | ₹3.04 Cr | Buyer: Alpha Leon Enterprises LLP Seller: Alpha Leon Enterprises LLP |
To see the full deal history of V2 Retail Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
V2 Retail Limited has 330 court cases on record: 126 filed by V2 Retail, 204 filed against it. 55 cases are pending and 275 are disposed.
Total cases
330
Filed by the company
126
Filed against the company
204
Pending
55
Disposed
275
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 194 | 155 | 39 |
| High courts | 131 | 48 | 16 |
| Supreme Court | 5 | 1 | 0 |
Cases on record (5 of 330)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Delhi | Appeal | Filed by the company against M/S Ricoh India Ltd | Pending |
| District court, South West, Delhi | Court case (M.Ex) | Filed against the company by Minosha Print Solutions Private Ltd | Disposed |
| High Court, PUNJAB | Revision petition | Filed by the company against Air Plaza Retail Holdings Pvt. Ltd. and 2 others | Disposed |
| District court, New Delhi, Delhi | Court case (OMP (I) (COMM.)) | Filed by the company against NSP Associates India Pvt. Ltd | Disposed |
| District court, West, Delhi | Interim or miscellaneous application | Filed against the company by Kansai Marketing Pvt Ltd | Disposed |
To see the full case history of V2 Retail Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
V2 Retail Limited was last rated by Icra on 20 Dec 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Icra | 20 Dec 2021 |
To see the full credit ratings and regulatory alerts of V2 Retail Limited, buy the company report.
MSME payment delays
V2 Retail Limited has 19 MSME Form 1 returns on record between 2018 and 2023, listing 276 overdue payments to 36 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 36)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Nice Enterprise | |||
| an individual supplier | |||
| an individual supplier | |||
| Kreative Kids International | |||
| Asian Plastowares Pvt. Ltd. |
To see the full MSME payment records of V2 Retail Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
V2 Retail has 1 subsidiary company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
1
Subsidiary companies
Key subsidiaries
| Company Name | CIN | Shares held |
|---|---|---|
| V2 Smart Manufacturing Private Limited | U18209DL2019PTC356730 |
To see the full group structure of V2 Retail Limited, buy the company report.
Employees & EPFO
V2 Retail Limited has a workforce of 2,742 employees on its EPFO records as of Jul 18, 2024, across 2 active EPFO establishments.
Employee count
2,742
Active EPFO establishments
2
Employee growth
28.91%
GST
V2 Retail has 28 GST registrations: 21 active and 7 cancelled or inactive. The first 4 active GSTINs are listed below.
Total GSTINs
28
Active
21
Cancelled / inactive
7
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 07AABCV5632P1ZV | Delhi | Active | 01 Jul 2017 |
| 07AABCV5632P2ZU | Delhi | Active | 09 Aug 2017 |
| 02AABCV5632P1Z5 | Himachal Pradesh | Active | 01 Jul 2017 |
| 05AABCV5632P1ZZ | Uttarakhand | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of V2 Retail Limited, buy the company report.
Recent activity
V2 Retail Limited has 57 board changes on record since 2001: 32 appointments and 25 cessations. The latest: Pratik Adukia was appointed as CFO on 22 Mar 2023.
Charges
A charge with Others amounted to Rs. 9.80 Cr with Charge ID 101371563 was registered on 26 Aug 2026.
Charges
A charge with Others amounted to Rs. 75.00 Cr with Charge ID 101373756 was registered on 11 Aug 2026.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 50.00 Cr with Charge ID 101364602 was registered on 21 Jul 2026.
Filing
V2 Retail Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Delhi I.
Charges
A charge registered on 10 Oct 2025 via Charge ID 101171488 with Others was fully satisfied on 01 Mar 2026.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 7.00 Cr with Charge ID 101238185 was registered on 04 Feb 2026.
Charges
A charge with Others amounted to Rs. 0.70 Cr with Charge ID 101243569 was registered on 03 Feb 2026.
Charges
A charge with Axis Bank Limited amounted to Rs. 7.04 Cr with Charge ID 101262896 was registered on 20 Jan 2026.
Charges
A charge with Others amounted to Rs. 15.00 Cr with Charge ID 101171488 was registered on 10 Oct 2025.
AGM
V2 Retail Limited last Annual general meeting of members was held on 05 Sep 2025 as per latest MCA records.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 3.45 Cr with Charge ID 101169041 was registered on 27 Aug 2025.
Charges
A charge registered on 11 Mar 2025 via Charge ID 101073813 with Others was fully satisfied on 11 Jul 2025.
124 earlier events are in the company report.
News
Frequently asked questions
V2 Retail is an active public limited company based in New Delhi, Delhi, India. The company works in fashion retail, within the fashion and textile industry. It was incorporated on 23 July 2001 (25+ years old) and is registered under CIN L74999DL2001PLC147724. Listed on BSE: 532867 and NSE: V2RETAIL.
V2 Retail reported revenue of ₹3,067.05 Cr for FY 2025-26 (up 62.8% YoY) based on consolidated financials.
V2 Retail has 6 current directors:
- Ram Chandra Agarwal - Managing Director
- Uma Agarwal - Whole-Time Director
- Akash Agarwal - Whole-Time Director
- Arun Kumar Roopanwal - Director
- Archana Surendra Yadav - Director
- Srinivas Anand Mannava - Director
The latest financial statements of V2 Retail on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 05 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of V2 Retail is 07AABCV5632P1ZV, registered in Delhi. The company has 28 GST registrations in all, of which 21 are active and 7 are cancelled or inactive. Other active GSTINs include 07AABCV5632P2ZU (Delhi), 02AABCV5632P1Z5 (Himachal Pradesh), 05AABCV5632P1ZZ (Uttarakhand).
The CIN (Corporate Identification Number) of V2 Retail is L74999DL2001PLC147724. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. V2 Retail is a listed company as per MCA records. Its shares are listed on both BSE (code: 532867) and NSE (symbol: V2RETAIL).
V2 Retail has 330 court cases on record: 126 filed by the company and 204 filed against it. 55 are pending. Most are in the district courts.
V2 Retail was incorporated on 23 July 2001, making it 25+ years old. It is registered with the Registrar of Companies, Delhi.
V2 Retail has 62 deals on record (54 market trades, 3 secondary share transfers, 3 funding rounds), with disclosed funding of ₹51.09 Cr; the latest was in November 2025.
The peers of V2 Retail by revenue are Inditex Trent Retail India Private Limited, Future Lifestyle Fashions Limited, RSB Retail India Limited, Sai Silks (Kalamandir) Limited, PVH Arvind Fashion Private Limited and 2 more, all in the Apparel industry (Apparel Retail and Distribution), with the same principal business activity (retail trading).
Pratik Adukia was appointed as CFO on 22 Mar 2023. Srinivas Anand Mannava was appointed as Director on 10 Feb 2023. Lalit Kumar ceased to be Director on 26 Dec 2022. V2 Retail has 57 board changes on record in total.