Vishal Mega Mart Ltd
VMM NSE
Vishal Mega Mart Ltd
Consumer DiscretionaryNSE: VMM BSE: 544307 Retailing
Key Fundamentals
MidcapDiversified RetailRetailMarket Cap
₹49,228 Cr
Volatility
Moderate
P/E Ratio
54.3
EBITDA
₹1,884 Cr
Return on Equity
9.87%
Debt to Equity
0.27
Book Value
₹15.85
52W High
₹157.6
52W Low
₹98.77
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Vishal Mega Mart Ltd insights
36 extracted metrics + investor summaries across FY20–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
1- Company has delivered good profit growth of 47.9% CAGR over last 5 years
Weaknesses
3- Stock is trading at 6.65 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 10.4% over last 3 years.
Growth Rate
Revenue Growth
19.78% ↘
Net Income Growth
28.98% ↘
Cash Flow Change
68.63% ↗
ROE
20.07% ↘
ROCE
13.89% ↘
EBITDA Margin (Avg.)
-1.63% ↘
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 6d agoAI opinion · based on fundamentals
Risk high
Vishal Mega Mart is a mid-large cap retailer with a market cap of ~₹50,954 Cr trading at a PE of 58.2x. The company has delivered strong profit growth (48% CAGR over 5 years) and 20% TTM sales growth, but trades at an elevated valuation of 6.97x book value with a 3-year average ROE of only 10%.
Bull Case 7
- Compounded profit growth of 48% CAGR over 5 years demonstrates strong earnings momentum and operating leverage in the business model
- TTM sales growth of 20% indicates continued topline expansion and consumer demand traction even on a larger base
- 3-year compounded sales CAGR of 19% shows consistent revenue trajectory rather than a one-off spike
- Last year ROE improved to 12% from the 3-year average of 10%, suggesting improving capital efficiency
- TTM profit growth of 30% continues to outpace revenue growth of 20%, indicating margin expansion or better cost management
- 5-year compounded sales CAGR of 24% reflects a long runway of sustained double-digit topline growth
- 3-year compounded profit CAGR of 39% significantly exceeds the corresponding 19% sales CAGR, pointing to meaningful operating leverage
Bear Case 8
- PE ratio of 58.2x is significantly elevated relative to broader market and retail sector averages, pricing in substantial future growth
- Stock has declined 21% over the past 1 year, indicating market reassessment of valuation or growth expectations
- Price-to-book of 6.97x is expensive for a retailer with only 10-12% ROE, implying the premium is not justified by current returns on capital
- 3-year average ROE of just 10% is modest and suggests the company is not generating outsized returns on shareholders' equity despite rapid growth
- Zero dividend yield means shareholders rely entirely on capital appreciation, with no income cushion during periods of stock price weakness
- 5-year ROE of 9% indicates that low return on equity is a structural feature of the business rather than a temporary phase
- The gap between profit growth (48% CAGR 5-year) and ROE (9-10%) raises questions about whether growth is being funded by equity dilution or balance sheet expansion rather than capital-efficient reinvestment
- At 58.2x PE with 30% TTM profit growth, the PEG ratio is approximately 1.9x, suggesting the stock is priced ahead of its current earnings growth rate
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 19h ago Headwinds 2
- Subsidiary ordered to pay ₹2.68Cr Aug 17
Airplaza Retail Holdings ordered by Rajarhat Commercial Court to pay ₹2,68,31,676 in rent and GST dues (Apr 2020–Dec 2020) and vacate Kolkata property within two months. Landlord also claims mesne profits at ₹2,00,000 per day from Dec 19, 2020.
- Subsidiary fined for food violation Aug 13
Airplaza Retail Holdings received a ₹1 lakh penalty from Moradabad court for a food safety violation. The company plans to appeal and recover costs.
Neutral 3
- 8th AGM set for Sep 18 Aug 17
Vishal Mega Mart scheduled its 8th AGM for September 18, 2026, to be conducted via video conferencing with remote e-voting through NSDL.
- Q1FY26 results approved Jul 24
Board approved unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, at its July 23 meeting.
- Q4FY26 earnings call released Jul 23
Audio recording of the earnings conference call held on July 23, 2026 covering Q1FY26 financials is now publicly available.
TL;DR: Vishal Mega Mart faces minor legal and regulatory issues at the subsidiary level — a ₹2.68 crore court order in Kolkata and a ₹1 lakh food safety fine in Moradabad — but both are being appealed and management characterizes the financial impact as limited. Core operations appear steady with routine quarterly results and AGM scheduling. The trend is neutral with no material business disruption, though repeated subsidiary-level legal actions warrant monitoring.
Quarterly Results
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,624 | 2,069 | 2,596 | 2,436 | 3,136 | 2,548 | 3,140 | 2,981 | 3,670 | 3,114 | 3,727 |
| Expenses | 2,197 | 1,818 | 2,231 | 2,134 | 2,631 | 2,191 | 2,681 | 2,587 | 3,065 | 2,689 | 3,182 |
| Operating Profit | 427 | 251 | 366 | 302 | 505 | 357 | 459 | 395 | 605 | 425 | 545 |
| OPM % | 16% | 12% | 14% | 12% | 16% | 14% | 15% | 13% | 16% | 14% | 15% |
| Other Income | 10 | 7 | 8 | 13 | 19 | 19 | 17 | 20 | 25 | 25 | 33 |
| Interest | 33 | 36 | 34 | 34 | 31 | 49 | 41 | 41 | 43 | 46 | 46 |
| Depreciation | 132 | 136 | 138 | 141 | 141 | 171 | 159 | 169 | 168 | 178 | 185 |
| PBT | 272 | 85 | 201 | 141 | 352 | 156 | 276 | 204 | 419 | 225 | 346 |
| Tax % | 25% | 28% | 25% | 26% | 25% | 26% | 25% | 25% | 25% | 25% | 25% |
| Net Profit | 205 | 61 | 150 | 104 | 263 | 115 | 206 | 152 | 313 | 168 | 259 |
| EPS in Rs | 0.46 | 0.14 | 0.33 | 0.23 | 0.58 | 0.25 | 0.44 | 0.33 | 0.67 | 0.36 | 0.55 |
Profit & Loss
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Sales | 5,292 | 4,452 | 5,589 | 7,586 | 8,912 | 10,716 | 12,906 | 13,493 |
| Expenses | 4,635 | 3,827 | 4,763 | 6,542 | 7,635 | 9,153 | 11,023 | 11,524 |
| Operating Profit | 657 | 625 | 826 | 1,044 | 1,276 | 1,564 | 1,884 | 1,969 |
| OPM % | 12% | 14% | 15% | 14% | 14% | 15% | 15% | 15% |
| Other Income | 20 | 116 | 62 | 33 | 32 | 56 | 86 | 102 |
| Interest | 236 | 232 | 213 | 185 | 170 | 180 | 171 | 177 |
| Depreciation | 340 | 346 | 406 | 461 | 517 | 590 | 673 | 700 |
| PBT | 101 | 163 | 270 | 431 | 621 | 849 | 1,125 | 1,195 |
| Tax % | 55% | 27% | 25% | 25% | 26% | 26% | 25% | — |
| Net Profit | 45 | 119 | 203 | 321 | 462 | 632 | 839 | 892 |
| EPS in Rs | 0.1 | 0.26 | 0.45 | 0.71 | 1.02 | 1.37 | 1.8 | 1.91 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 4,366 | 4,484 | 4,503 | 4,507 | 4,509 | 4,597 | 4,673 |
| Reserves | -143 | 105 | 322 | 650 | 1,113 | 1,804 | 2,740 |
| Borrowings | 793 | 770 | 1,790 | 1,462 | 1,483 | 1,729 | 1,988 |
| Other Liabilities | 2,377 | 2,547 | 1,603 | 1,671 | 1,401 | 1,862 | 2,048 |
| Total Liabilities | 7,392 | 7,905 | 8,218 | 8,289 | 8,506 | 9,993 | 11,449 |
| Fixed Assets | 5,736 | 4,643 | 5,802 | 5,893 | 6,183 | 6,535 | 6,882 |
| CWIP | 20 | 11 | 11 | 69 | 38 | 14 | 34 |
| Investments | 87 | 547 | 417 | 35 | 0 | 387 | 1,119 |
| Other Assets | 1,549 | 2,704 | 1,988 | 2,293 | 2,284 | 3,057 | 3,415 |
| Total Assets | 7,392 | 7,905 | 8,218 | 8,289 | 8,506 | 9,993 | 11,449 |
Cash Flow
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Operating | 557 | 1,054 | 657 | 636 | 830 | 1,399 | 1,621 |
| Investing | -149 | -695 | 27 | 177 | -130 | -610 | -988 |
| Financing | -429 | -276 | -710 | -865 | -658 | -479 | -500 |
| Net Cash Flow | -22 | 84 | -26 | -52 | 41 | 310 | 133 |
| Free Cash Flow | 387 | 950 | 500 | 417 | 583 | 1,138 | 1,299 |
| CFO/OP | 94 | 172 | 88 | 73 | 77 | 105 | 103 |
Ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 0 | 0 | 0 | 0 | 1 | 2 | 1 |
| Inventory Days | 106 | 110 | 111 | 98 | 83 | 88 | 80 |
| Days Payable | 102 | 144 | 133 | 99 | 69 | 70 | 64 |
| Cash Conversion Cycle | 4 | -34 | -22 | 0 | 15 | 20 | 17 |
| Working Capital Days | -17 | -38 | -40 | -16 | 1 | -3 | 27 |
| ROCE % | — | 8% | 8% | 9% | 11% | 13% | 15% |
Documents
1
Board Meeting Intimation for Board Meeting Intimation For Approval Of Financial Results For The Quarter And Year Ended March 31, 2026
8 May - Board to meet on May 14, 2026, to approve audited FY26 standalone and consolidated results. 8 May - Board to meet on May 14, 2026, to approve audited FY26 standalone and consolidated results.
2
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
8 May - Schedule of Earnings Conference Call on results for the quarter and year ended March 31, 2026 8 May - Schedule of Earnings Conference Call on results for the quarter and year ended March 31, 2026
3
Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015
6 May - Rampur ADM imposed Rs. 2 lakh penalty on subsidiary for food safety violation. 6 May - Rampur ADM imposed Rs. 2 lakh penalty on subsidiary for food safety violation.
4
Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015
20 Apr - Airplaza Retail Holdings received Rs 4 lakh food safety penalty on April 20, 2026. 20 Apr - Airplaza Retail Holdings received Rs 4 lakh food safety penalty on April 20, 2026.
5
Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015
16 Apr - Subsidiary received labour court order on April 15, 2026, for Rs. 13,83,888 recovery. 16 Apr - Subsidiary received labour court order on April 15, 2026, for Rs. 13,83,888 recovery.
2
Disclosure Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 17 Aug 2026
General_Announcements
3
Disclosure Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 13 Aug 2026
General_Announcements
Frequently Asked Questions about Vishal Mega Mart Ltd
What does Vishal Mega Mart Ltd do?
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]
Where is Vishal Mega Mart Ltd (VMM) listed?
Vishal Mega Mart Ltd is listed on the Indian stock exchanges. It is listed on NSE: VMM and BSE: 544307. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Vishal Mega Mart Ltd belong to?
Vishal Mega Mart Ltd operates in the Consumer Discretionary sector within the Retailing industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Vishal Mega Mart Ltd?
Vishal Mega Mart Ltd has a market capitalisation of approximately ₹49228.20 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Vishal Mega Mart Ltd?
The Price-to-Earnings (PE) ratio of Vishal Mega Mart Ltd is 54.30. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Vishal Mega Mart Ltd?
Over the past 52 weeks, Vishal Mega Mart Ltd has traded between a low of ₹98.77 and a high of ₹157.6. This range helps investors understand the stock's price volatility and recent trading levels.
What is the Return on Equity (ROE) of Vishal Mega Mart Ltd?
Vishal Mega Mart Ltd has a Return on Equity (ROE) of 9.87%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Vishal Mega Mart Ltd on Tapetide?
On Tapetide, you can view Vishal Mega Mart Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
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]