VISHAL MEGA MART Results Analysis-Q3FY26

Operating Revenue for Q3FY26 is Rs. 3,670 Crs., 17% growth YoY, Total Income is Rs. 3,695 Crs., 17.12% growth YoY, Gross Profit is Rs. 1,067 Crs., 16.9% growth YoY, EBITDA is Rs. 605 Crs., 19.82% growth YoY, EBITDA Margin is 16.49% Improved by 38 Basis points YoY, PBT Rs. 419 Crs, 19.17% growth YoY, PAT Rs. 313 Crs, 19.11% growth YoY On QoQ basis Op. Revenue is up by 23.11%, Total Income is up by 23.1%, EBITDA is up by 53.37%, PBT is up by 105.21% and PAT is also up by 105.45%. Adjusted SSSG: 9.6% YoY, Q3 openings: 29 new stores (including 4 small-format), Q3 geographic split (as described): 12 stores in South (Kerala/AP/Karnataka/Telangana), 7 in North, 7 in West, 3 in East. Network as of Dec’25: 771 stores, 517 cities; 24 new cities added in Q3. Despite capacity to do more, they retain 80–100 store guidance because the binding constraint is “availability of properties” that can become “growing profitable stores,” and they do not want to “chase a target irrationally.” Expanded quick commerce to 723 stores across 485 cities.