Consumer Cyclical
Vishal Mega Mart Limited (VMM) Q4fy26: Revenue Up 22.2%, PAT Surges 45.9%
Vishal Mega Mart Limited (VMM) reports a 22.2% YoY revenue growth to ₹31,141 Mn in Q4FY26, with PAT up 45.9%.
Vishal Mega Mart Limited (NSE: VMM), a leading retail player in apparel, general merchandise, and FMCG categories, announced its audited financial results for the quarter and year ended March 31, 2026. The company reported a robust performance with revenue from operations at ₹31,141 million, marking a 22.2% year-on-year growth. The profit after tax (PAT) surged by 45.9% to ₹1,679 million. This impressive growth was underpinned by an industry-leading adjusted same-store sales growth (SSSG) of 13.2%.
Financial Highlights
The consolidated financial highlights for Q4FY26 include:
- Revenue from operations stood at ₹31,141 million, up 22.2% YoY.
- Adjusted SSSG was 13.2% (reported SSSG of 12.1%).
- Adjusted EBITDA (pre-INDAS 116 and pre-ESOP charges) stood at ₹2,753 million, with a 32.3% YoY growth.
- PAT stood at ₹1,679 million, up 45.9% YoY.
- 25 gross and 24 net stores were added.
Full Year FY26 Performance
For the full year FY26, the company reported:
- Revenue from operations at ₹129,063 million, up 20.4% YoY.
- Adjusted SSSG was 11.0% (reported SSSG of 9.8%).
- Adjusted EBITDA (pre-INDAS 116 and pre-ESOP charges) stood at ₹13,211 million, with a 27.8% YoY growth.
- PAT stood at ₹8,392 million, up 32.8% YoY.
- 105 gross and 99 net stores were added, bringing the total store count to 795.
Commenting on the results, Mr. Gunender Kapur, Managing Director and Chief Executive Officer, said: “FY26 marks another remarkable year in our journey, delivering strong operational and financial performance. The revenue from operations grew by 22.2% YoY in Q4FY26 to Rs. 31,141 million. This was driven by an industry-leading adjusted SSSG of 13.2% which is mainly an outcome of aspirational merchandise, ability to cater to diverse and evolving customer needs and great execution. For FY26, our revenue from operations grew by 20.4% YoY to Rs. 129,063 million, driven by adjusted SSSG of 11%. The performance reflects growing contribution of our aspirational own brands and high quality execution across the board. Further, growth remained broad-based across all product categories. Our expansion strategy remained firmly on track with gross new store openings of 25 during the quarter and 105 during the full year, further strengthening our network and market presence.”
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Vishal Mega Mart Limited
Vishal Mega Mart Limited belongs to the Consumer Cyclical › Department Stores sector. Here’s a quick read on where the business and the stock stand today.
Vishal moves sideways over three months, with neither buyers nor sellers taking control. Thin margins at 6.4% leave limited room for error — any demand softness or cost spike hits the bottom line hard. Revenue grows at 24.3% and profits at 46.1% CAGR. Both numbers are exceptional. The stock gains 4.3% in the last month, recovering from the three-month slide. However, it is too early to call this a confirmed reversal. Revenue grows at 24.3% and profits at 46.1%. The business is in good shape. Moreover, a stock that does not move despite strong fundamentals often offers better value than one already priced for perfection. Check Fundamentals of Vishal Mega Mart Limited.
BIL
Bhartiya International Limited (BIL) Q2 FY27: Robust Revenue Growth Accompanied by Strong PAT Expansion
Bhartiya International Limited (BIL) reports strong Q2 FY27 results with revenue up 26.9% YoY and PAT more than doubling.
Bhartiya International Limited (BIL) has reported impressive financial results for Q2 FY27, showcasing robust revenue growth and a significant expansion in profit after tax (PAT). The company’s revenue for the quarter stood at Rs. 507 crore, marking a 26.9% year-over-year (YoY) increase. This growth is attributed to a better product mix, disciplined cost management, and efficient utilization of higher capacity.
Strong Financial Performance
The PAT for Q2 FY27 surged by 72.8% YoY to Rs. 25 crore, while profit before tax (PBT) jumped 65.3% to Rs. 34 crore. The EBITDA margin remained flat at 10.0%, reflecting the company’s operational efficiency. The company’s revenue mix continues to be anchored by its outerwear segment, which contributes 65% to the total revenue, followed by bags and accessories at 18%.
Half-Year Financial Highlights
For the first half of FY27, revenue grew by 29.5% YoY to Rs. 880 crore, and PAT increased by 94.7% to Rs. 42 crore. The EBITDA margin was also flat at 9.9%. The company’s net working capital reduced by 24 days to 185 days, and the net debt-to-equity ratio improved to 0.9x. The return on capital employed (ROCE) expanded by 320 basis points to 12.7%.
Bhartiya International Limited continues to reinforce its position as a trusted strategic manufacturing partner to leading international brands, with strong traction in marquee global customer programs and sustained momentum in the core business.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Bhartiya International Limited
Bhartiya International Limited belongs to the Consumer Cyclical › Footwear & Accessories sector. Here’s a quick read on where the business and the stock stand today.
Bhartiya gains 41.0% over three months and trades near its 52-week highs. Razor-thin margins below 5% make profitability extremely vulnerable — this business needs scale or pricing power urgently. No meaningful dividend — total return is entirely dependent on capital appreciation. RSI hits 75, a level that signals the stock runs hot. Notably, buyers drove volume on 15 recent sessions — though at these levels, some profit-taking is normal. The stock rises 41.0% in three months. Yet revenue grows at only 19.0% and the PEG stands at 99.00. Either the market prices in a turnaround that has not shown up yet, or this is momentum without substance. Check the next two earnings prints before drawing conclusions. Check Fundamentals of Bhartiya International Limited.
Consumer Cyclical
Viceroy Hotels Limited (vhltd) H1 FY27: Ebitda Up 81%, PAT Rises 2.7x
Viceroy Hotels Limited (VHLTD) reports strong H1 FY27 results with EBITDA up 81%, PAT rising 2.7x, and consolidated income growing 61%.
Viceroy Hotels Limited (VHLTD) has reported impressive key business highlights for the first half of FY27. The company’s consolidated total income grew 61%, EBITDA surged 81%, and profit after tax (PAT) rose 2.7 times compared to H1 FY26. The EBITDA margin expanded by 286 basis points, reflecting strong operational performance. Standalone revenue from operations, driven by the two Hyderabad hotels, increased 20.7% year-on-year to ₹67.81 crore in H1 FY27.
Strong Financial Performance
The completion of a ₹105.83 crore rights issue in September 2026 has significantly strengthened the balance sheet. As of September 30, 2026, the company’s net worth stood at ₹375.90 crore, up from ₹266.80 crore on March 31, 2026. Cash and current investments increased to ₹125.55 crore, and the debt-to-equity ratio improved to 0.70x from 0.99x.
Strategic Growth Initiatives
Following a Novation Agreement executed on September 29, 2026, Marriott Executive Apartments now operates under the Viceroy Hotels Limited brand. The upgraded convention centre and rooms at Marriott Hyderabad, along with the new Courtyard by Marriott at Madhapur, are expected to further enhance the company’s capacity to meet growing demand in Hyderabad.
Mr. Ravinder Reddy Kondareddy, Managing Director & CEO of Viceroy Hotels Limited, remarked, ‘H1 FY27 has been a strong half for Viceroy Hotels. We look ahead with confidence as we continue to expand our presence in key Indian markets.’ With a focus on business, leisure, luxury, and destination travel segments, Viceroy Hotels Limited is poised for sustained growth in the coming quarters.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Viceroy Hotels Limited
Viceroy Hotels Limited belongs to the Consumer Cyclical › Lodging sector. Here’s a quick read on where the business and the stock stand today.
Viceroy posts a 14.4% three-month gain, but softens in the last few weeks. No meaningful dividend — total return is entirely dependent on capital appreciation. Revenue grows at only 6.7% and profits at 0.0% CAGR. In effect, the business treads water. Buyers show up with 2.0x the volume of sellers. Moreover, they dominated on 18 of recent sessions versus 12 for sellers — a healthy accumulation pattern. Revenue grows at 6.7% CAGR and the PEG stands at 99.00. The growth does not match the price the market asks. Furthermore, flat price action adds no technical catalyst. A lower price or faster revenue growth would improve the odds. Check Fundamentals of Viceroy Hotels Limited.
Auto Manufacturers
Tvs Motor Company Expands Brazil Operations and Reinforces Long-term Commitment
TVS Motor Company (TVSMOTOR) expands its operations in Brazil with a new flagship store and plans to increase production capacity to 130,000 units by 2027.
TVS Motor Company (TVSM), part of TVS VENU, the world’s third-largest two-wheeler manufacturer, today announced the next phase of its growth in Brazil, supported by increased production capacity, an expanding retail footprint, and a significant nationwide after-sales and service network. The opening of the company’s first Flagship Store in São Paulo provides a visible customer-facing proof point of this broader, long-term commitment to the Brazilian market.
New São Paulo Flagship Store
The first TVS Motor Flagship Store opens at Avenida dos Bandeirantes, 1747, Vila Olímpia, São Paulo. This new location is designed to bring the brand closer to Brazilian consumers by combining product displays, technology, and brand experience in a single environment.
Expansion Plans and Partnerships
TVS Motor’s operations in Brazil currently have an annual production capacity of approximately 110,000 units in 2026, with plans to increase capacity to 130,000 units by 2027. The planned expansion is intended to support the company’s growing commercial presence and its long-term ambition to build a sustainable business in one of the world’s leading motorcycle markets. In partnership with Mottu, TVS Motor plans to renovate existing locations and open new exclusive dealerships, initially focusing on the Southeast and Central-West regions. Three new stores are planned during 2027, bringing the brand and its portfolio closer to customers.
Through the partnership with Mottu, TVS Motor has access to a network of more than 500 points of sale and 168 service locations across Brazil. Locations authorized to service TVS models will have specialized technical teams trained by the manufacturer, supported by local spare-parts availability.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of TVS Motor Company Limited
TVS Motor Company Limited belongs to the Consumer Cyclical › Auto Manufacturers sector. Here’s a quick read on where the business and the stock stand today.
TVS posts a 7.4% three-month gain, but softens in the last few weeks. D/E reaches 3.03. High leverage in this environment is a material risk the market cannot ignore. Thin margins at 5.7% leave limited room for error — any demand softness or cost spike hits the bottom line hard. The stock gives back 2.3% in the last month despite a positive three-month run. As a result, the earlier momentum appears to be fading. Revenue grows at 20.2% and profits at 31.5%. The business is in good shape. Moreover, a stock that does not move despite strong fundamentals often offers better value than one already priced for perfection. Check Fundamentals of TVS Motor Company Limited.
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