Vishal Mega Mart announced its earnings presentation for the quarter and nine months ended December 31, 2025. The presentation highlights a 17.0% increase in revenue from operations for Q3 and a 19.9% increase for the nine-month period. Adjusted EBITDA increased by 18.8% for Q3 and 26.7% for the nine months, demonstrating strong financial performance.
Financial Performance Highlights
Vishal Mega Mart reported a revenue from operations of ₹36,704 million for Q3 FY26, representing a 17.0% increase compared to ₹31,359 million in Q3 FY25. For the nine months ended December 31, 2025 (9M FY26), revenue from operations stood at ₹97,922 million, a 19.9% increase from ₹81,685 million in the corresponding period last year.
Gross profit for Q3 FY26 was ₹10,665 million with a margin of 29.1%, compared to ₹9,123 million and a margin of 29.1% in Q3 FY25. For 9M FY26, gross profit reached ₹28,009 million, maintaining a margin of 28.6%, up from ₹23,326 million and a margin of 28.6% in 9M FY25.
Adjusted EBITDA for Q3 FY26 increased to ₹4,685 million, a margin of 12.8%, from ₹3,942 million and a margin of 12.6% in Q3 FY25. 9M FY26 saw adjusted EBITDA of ₹10,457 million, with a margin of 10.7%, compared to ₹8,252 million and a margin of 10.1% in 9M FY25.
Adjusted PAT (profit after tax) for Q3 FY26 was ₹3,235 million, a margin of 8.8%, versus ₹2,754 million and a margin of 8.8% in Q3 FY25. The adjusted PAT for 9M FY26 was ₹7,007 million, with a margin of 7.2%, as opposed to ₹5,479 million and a margin of 6.7% during 9M FY25.
Operational Highlights
The company reported an adjusted SSSG (Same Store Sales Growth) of 9.6% for Q3 FY26. Considering the preponement of Durga Puja festivities, the adjusted SSSG was 7.5%. The reported SSSG for the nine-month period was 9.1%.
As of December 2025, Vishal Mega Mart has a network of 771 stores across 517 cities in 30 States/UTs, covering 13.15 million retail sq. ft. During Q3 FY26, 29 gross new stores were added, bringing the total for the nine-month period to 80.
Loyalty Program Growth
Vishal Mega Mart’s loyalty program boasts approximately 163 million registered customers, marking a 16% increase. Around 95% of the company’s revenue now comes from loyalty customers, reflecting the program’s success.
Source: BSE
