Vishal Mega Mart Limited shares fell 4.70% on Oct. 21, 2026, after the Indian retailer posted faster revenue than profit growth for fiscal Q2 FY27 and reported narrower margins.
The shares, listed on the National Stock Exchange of India (NSE), ended at ₹90, down from the previous close of ₹94.44. They touched ₹86.66 intraday, an 8.24% decline from that reference, before recovering part of the drop, market data showed.
The unaudited results for the three months ended Sept. 30, 2026, showed revenue from operations of ₹3,398.5 crore, compared with ₹2,981.5 crore a year earlier. Profit after tax was ₹157.9 crore, up from ₹152.3 crore. One crore equals 10 million rupees.
Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 4.4% to ₹412 crore from ₹394.6 crore. The EBITDA margin declined to 12.1% from 13.2%, while the after-tax margin narrowed to 4.6% from 5.1%.
The company said an 18-day shift in the Puja and Dusshera festival calendar moved some buying into fiscal Q3. Same-store sales grew 5.4%; management estimated growth would have been about 9% after adjusting for the timing change. Vishal Mega Mart linked the lower EBITDA margin to reduced fixed-cost absorption as festival purchases shifted between quarters.
Founder, Chief Executive Officer and Managing Director Gunender Kapur said demand remained steady despite renewed inflation in key raw-material categories and an uneven monsoon. The company also described the festive season as having started strongly.
A similar calendar effect appeared in the company’s 2025 reporting: it said an earlier Durga Puja in September 2025, compared with October 2024, affected revenue growth. Vishal Mega Mart added 25 net stores during the latest quarter, bringing its network to 844 stores in 582 cities. Its own brands accounted for 73.9% of revenue in the six months ended Sept. 30.
That makes fiscal Q3 sales and margins the next indicators of whether shifted buying appears in the company’s quarterly results.
