V-Mart Retail Limited announced the outcome of its Board of Directors’ meeting held on November 3, 2026. The board considered and approved the unaudited financial results for the second quarter and half-year ended September 30, 2026. Additionally, the company approved the appointment of Mr. Varin Agarwal as the Head of Merchandising and Senior Management Personnel, effective November 3, 2026. The board also noted a request for reclassification of certain members from ‘Promoter Group’ to ‘Public’ category, subject to regulatory approvals.
V-Mart Retail Board Meeting Highlights
V-Mart Retail Limited convened its Board of Directors’ meeting on November 3, 2026. The meeting, which commenced at 01:15 P.M. and concluded at 04:40 P.M., focused on key financial and operational decisions. The Board considered, approved, and took on record several important items.
Financial Results Approved
A primary agenda item was the approval of the unaudited financial results for the second quarter and the half-year ended September 30, 2026. These results, along with the Limited Review Report from the statutory auditors, have been annexed with the disclosure. The financial statements for the quarter reported a profit after tax of ₹(1,634) Lakhs, a decrease from the previous year’s comparable period.
Leadership Appointment
The Board also approved the appointment of Mr. Varin Agarwal as the Head – Merchandising function. This appointment is effective from November 3, 2026, and consequently, Mr. Agarwal will also be designated as Senior Management Personnel of the Company. His profile highlights a Bachelor’s degree from NYU Stern School of Business and experience in strategy, operations, and business development. Prior to V-Mart, he served as the Head of Strategy, Operations & Growth at US Mobile.
Promoter Group Reclassification
In a separate matter, the Board reviewed and approved a request from certain members of the Promoter Group seeking reclassification to the ‘Public’ category. This reclassification is subject to obtaining necessary approvals from the relevant Stock Exchanges, including BSE Limited and the National Stock Exchange of India. The individuals involved in this request are Raghav Agarwal and Ditya Agarwal.
Auditor’s Review Report
An independent auditor’s review report from S.R. Batliboi & Co. LLP was included, confirming that their review of the unaudited financial results for the quarter and year-to-date ended September 30, 2026, did not bring to their attention any material misstatements. The review was conducted in accordance with the Standard on Review Engagements (SRE) 2410.
Source: BSE
