V2 Retail to open 100 stores by end of next fiscal

Fashion and apparels retailer V2 Retail has chalked out aggressive retail expansion plan, aiming to double its store presence and take it upto 100 stores by the end of next fiscal. By end of June 2018, it had already opened 63 stores and plans to open the next 37 stores by end of March 2019. The retail chain recently opened its 63rd ‘V2 Retail’ in Lucknow, its 14th store in Uttar Pradesh. The stores are mainly spread across 17 states and 57 cities.

With the total retail area spread across 1.1 million sq.ft., the company expects to generate a revenue worth Rs 900 crore in FY19. For FY18, it achieved a growth of 18.5 per cent in its top-line at Rs. 559 crore. It’s operating profit increased by 29.2 per cent YoY. The EBITDA margin for the year stood at 8.8 per cent. However, PAT in FY18 was down by 20.4 per cent YoY on account of higher depreciation costs and higher tax payments. The PAT margin stood at 5.6 per cent in FY18.