News: V2 Retail registered strong revenue growth of 58%yoy Rs 591 Crore in Q3FY25 on high base of 56%yoy growth achieved in Q3FY24. Revenues grew by 56% on 2 years CAGR basis and 21% on 5 years CAGR basis (Q3FY20 was normal quarter pre-covid). The strong growth can be attributable to 25% SSSG (Stood at 47% in Q3FY24). The company added 21 stores in Q3 (45 stores in 9MFY25) and total store count stands at 45 stores (targets to open 60-65 stores in FY25).
Views: Q3 is a seasonally strong quarter for value fashion players (especially in northern belt) due to higher festive and winter sales. The company has been consistently delivering good operating performance with double digit SSSG, which is better than some of the close peers. Sales per sq.ft in 9MFY25 stood at Rs1069/month (Rs12,828/annum).
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