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V2 Retail shares fell as much as 20% intraday on 5 October 2026, touching Rs 162.55 on the BSE, according to ETMarkets. The Economic Times market profile recorded a smaller but still sharp 15.95% decline at the close versus the previous close. The business update showed strong total revenue growth, but that headline figure did not tell the whole story: same-store sales looked very different depending on how the comparison accounted for festival dates.
How much did V2 Retail shares fall?
ETMarkets reported that the stock fell as much as 20% to an intraday low of Rs 162.55 on the BSE on Monday, 5 October 2026. That is an intraday low, not the closing return. The Economic Times market profile put the decline at 15.95% at the close compared with the previous close. (Economic Times market profile; ETMarkets report, 5 October 2026)
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Why did shares fall despite revenue growth?
ETMarkets reported standalone revenue of Rs 905 crore for Q2 FY27, compared with Rs 705 crore in Q2 FY26, a 28.4% year-on-year increase. The report attributed the rise to continued store expansion. Revenue counts sales across the entire business, including newer outlets; it is not the same measure as growth at stores open long enough to be compared across periods.
The same-store-sales figures in the report were much weaker on a calendar basis, and almost flat after adjusting for festival timing. That contrast could have weighed on investors’ reading of the update even as the expanding network lifted total revenue. The available reporting does not establish the market’s full explanation for the selloff, so festival timing alone cannot be identified as its cause.
What did the two same-store-sales figures measure?
ETMarkets reported two different like-for-like comparisons for Q2 FY27: a -14.9% calendar-basis same-store sales growth (SSSG) figure and 0.5% on a festival-normalised basis. They are not conflicting results for an identical comparison. The adjustment changes how sales periods are aligned to account for the timing of major festivals.
According to the report, Navratri and Durga Puja fell in Q2 FY26 but were in October 2026, Q3 FY27. As a result, the prior-year quarter included festival sales that were not in the same calendar quarter this year. The calendar-basis comparison therefore captures a tougher timing mismatch; the festival-normalised figure attempts to compare periods with festival timing aligned. The latter was only 0.5%, however, so it indicates near-flat comparable-store growth on that adjusted basis, not a strong acceleration. (ETMarkets, 5 October 2026)
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How expansion shaped the update
ETMarkets reported that V2 Retail had 427 stores and opened 106 during the first half of FY27. It also reported monthly sales of Rs 700 per square foot. The company’s view, as relayed by ETMarkets, was that more stores were still in their ramp-up phase. New outlets can add to total revenue while their individual sales are still developing, which helps explain why network-wide revenue growth and same-store performance should be read separately.
What the company expected for Q3
ETMarkets said V2 Retail expected to capture festive demand in Q3 FY27, when Navratri and Durga Puja fell in October 2026. That was an expectation in the business-update coverage, not a reported Q3 result; the figures here do not establish whether the anticipated uplift later materialised.
How directly were the figures verified?
The Economic Times market profile linked a BSE filing titled “Q2 FY27 Business Update-Network Expansion Continues Ahead Of The Festive Quarter,” but the filing PDF was not retrievable. The operating figures above are therefore attributed to ETMarkets’ report of the update, rather than presented as independently checked against the company’s filing. The closing decline is reported separately by the dated Economic Times market profile. (Economic Times market profile)
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