V2RETAILNSE14 November 2025

V2 Retail Limited has informed the Exchange regarding 'Investor Presentation for Q2 H1 FY 2025-26'.

V2 Retail Limited

14th November, 2025

BSE Ltd. Corporate Relation Department, Listing Department, Rotunda Building, PJ Towers, Dalal Street, Mumbai – 400 023. Scrip Code: 532867

National Stock Exchange of India Ltd. Listing Department Exchange Plaza, C-1, Block- G, Bandra Kurla Complex Bandra (East) Mumbai–400 051 NSE Symbol: V2RETAIL

Sub: Investor Presentation for Q2 H1 FY 2025-26

Dear Sir/Madam,

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, please find enclosed herewith Investor Presentation for Q2 & H1 FY 2025-26.

The investor presentation shall also be uploaded on the website of the Company.

You are requested to kindly take the above on record.

Thanking you, YOURS FAITHFULLY, FOR V2 RETAIL LIMITED

SHIVAM AGGARWAL COMPANY SECRETARY & COMPLIANCE OFFICER

Encl.: As above

Reg. off.: Khasra No. 928, Extended Lal Dora Abadi Village Kapashera, Tehsil Vasant Vihar, South West Delhi, Delhi-110037 Corporate Off.: 2nd Floor, 13, Sub. Major Laxmi Chand Rd, Maruti Udyog, Sector 18, Gurugram, Sarhol, Haryana 122015 E-mail: customercare@v2kart.com Website: www.v2retail.com CIN: L74999DL2001PLC147724 Tel.: 011-41771850

Q2 & H1FY26 Performance Highlights (Consolidated)

Revenue

Gross Profit

EBITDA

PAT

Q2FY26

₹ 708.6 Cr

+86%

₹ 198.3 Cr 28%

+91%

₹ 85.4 Cr 12.1%

+158%

₹ 17.2 Cr 2.4%

+990%

H1FY26

₹ 1,340.9 Cr

+69%

₹ 384.5 Cr 28.7%

+72%

₹ 172.7 Cr 12.9%

+95%

₹ 41.9 Cr 3.1%

+191%

Leading the way in Affordable, High Quality Fashion

Manufacturing

Key Operational Highlights Q2 FY26

Sales Per Square Feet

Sales per square feet (PSF) per month was

₹ 938 in Q2FY26 as compared to

₹ 904 in Q2FY25.

Stores Count & Retail Area

259 Stores at the end of Q2FY26

(Opened 43)

Total Retail Area ~27.94 lakh sq.ft.

Full Price Sales Contribution

MRP Sales at 92% in Q2FY26 as compared to 89% in Q2FY25.

Same Stores Sales Growth

Same stores sales growth (SSG) stood at ~23.4% & normalised SSG was 10.3% for Q2FY26.

Volume Growth

Volume growth for Q2FY26 stood at 58% (Y-o-Y).

Average Selling Price

ASP was ₹ 315 in Q2FY26 as compared to ₹ 269 in Q2FY25.

Average Bill Value

ABV was ₹ 899 in Q2FY26 as compared to ₹ 791 in Q2FY25.

Revenue Mix

Men’s Wear 40%, Ladies Wear 30% Kids Wear 23% & LifeStyle 7%

Net Working Capital days

Net working Capital days stood at 45 days as compared to 37 days as at FY25

Key Operational Highlights H1FY26

Sales Per Square Feet

Sales per square feet (PSF) per month was

₹ 948 in H1FY26 as compared to

₹ 980 in H1FY25.

Stores Count & Retail Area

259 Stores at the end of Q2FY26

(Opened 71 & Closed 1)

Total Retail Area ~27.94 lakh sq.ft.

Full Price Sales Contribution

MRP Sales at 92% in H1FY26 as compared to 91% in H1FY25.

Same Stores Sales Growth

Same stores sales growth (SSG) stood at ~13.3% for H1FY26.

Volume Growth

Volume growth for H1FY26 stood at 43% (Y-o-Y).

Average Selling Price

ASP was ₹ 309 in H1FY26 as compared to ₹ 264 in H1FY25.

Average Bill Value

ABV was ₹ 900 in H1FY26 as compared to ₹ 808 in H1FY25.

Revenue Mix

Men’s Wear 41%, Ladies Wear 29% Kids Wear 23% & LifeStyle 7%

Net Working Capital days

Net working Capital days stood at 45 days as compared to 37 days as at FY25

Retail Footprint – Reaching Customers

259 Stores at the end of H1FY26

(Opened 71 & Closed 1)

Retail Area ~27.94 lakh sq.ft.

6 6

StateNo. of StoresAndhra Pradesh2Arunachal Pradesh1Assam17Bihar44Chattisgarh2Delhi & NCR10Goa2Gujarat1Haryana4Himachal Pradesh3J & K5Jharkhand19Karnataka18Madhya Pradesh20Maharashtra1Meghalaya1Odisha30Punjab7Rajasthan3Tripura1Uttar Pradesh48Uttrakhand7West Bengal13Total259Q2 & H1FY26 Financial Highlights (Consolidated)

Revenue (₹ Cr)

Gross Profit (₹ Cr)

EBIDTA (₹ Cr)

PAT (₹ Cr)

709 380 1,341 795 Q2 FY26Q2 FY25H1FY26H1FY2586%69%198 104 385 224 Q2 FY26Q2 FY25H1FY26H1FY2591%33%28.0%27.3%28.7%28.2%72%85 33 173 89 Q2 FY26Q2 FY25H1FY26H1FY2512.9%17.4%8.7%12.1%12.9%11.1%158%95%17 (2)42 14 Q2 FY26Q2 FY25H1FY26H1FY25(20.1)%(11.1)%990%191%2.4%(0.5)%3.1%1.8%Q2 & H1FY26 Operational Parameters (Consolidated)

Inventory (Days of Sales)

Creditors (Days of Sales)

Net Working Capital (Days of Sales)

Return on Equity (ROE)

124 108 131 H1FY26FY25FY24Q2 & H1FY26 Operational Parameters

Sales Per Square Feet (PSF) per Month (₹)

Same Stores Sales Growth (SSG)

Average Bill Value (ABV) (₹)

Average Selling Price (ASP) (₹)

899 791 900 808 Q2 FY26Q2 FY25H1FY26H1FY2523%34%13%36%Q2 FY26Q2 FY25H1FY26H1FY25(20.1)%(11.1)%Q2 & H1FY26 Profit & Loss - Consolidated

Particulars (₹ Cr)Q2 FY26Q2 FY25Y-O-Y% ChangeQ1 FY26H1FY26H1FY25Y-O-Y% ChangeFY25Revenue from Operations 708.6 380.0 86% 632.2 1,340.9 795.0 69% 1,884.5 Cost of Material Consumed 508.9 259.2 445.0 953.9 539.4 1,285.3 Direct Expenses 1.4 17.0 1.0 2.4 31.6 48.0 COGS 510.4 276.2 446.0 956.3 571.0 1,333.2 Gross Profit 198.3 103.8 91% 186.2 384.5 224.0 72% 551.3 GP Margin %28.0%27.3%29.5%28.7%28.2%29.3%Employee Expenses 57.5 39.0 52.6 110.1 74.6 159.2 Other Expenses 55.4 31.7 46.4 101.7 60.9 134.2 EBIDTA 85.4 33.1 158% 87.2 172.7 88.5 95% 257.8 EBIDTA Margin %12.1%8.7%13.8%12.9%11.1%13.7%Other Income 1.1 2.5 0.9 2.0 3.9 7.0 Depreciation & Amortisation 37.6 23.0 32.1 69.7 44.4 98.6 Finance Cost 28.0 15.0 22.8 50.8 28.7 67.9 Profit before Tax 20.9 (2.4)963% 33.3 54.2 19.3 180% 98.2 PBT Margin %3.0%-0.6%5.3%4.0%2.4%5.2%Tax 3.7 (0.5) 8.6 12.3 4.9 26.2 PAT 17.2 (1.9)990% 24.7 41.9 14.4 191% 72.0 PAT Margin %2.4%-0.5%3.9%3.1%1.8%3.8%Q2 & H1FY26 Profit & Loss – Consol. (Pre Ind As)

Particulars (₹ Cr)Q2 FY26Q2 FY25Y-O-Y% ChangeQ1 FY26H1FY26H1FY25Y-O-Y% ChangeFY25Revenue from Operations 708.6 380.0 86% 632.2 1,340.9 795.0 69% 1,884.5 Cost of Material Consumed 508.9 259.2 445.0 953.9 539.4 1,285.3 Direct Expenses 1.4 17.6 1.1 2.5 32.9 49.7 COGS 510.4 276.8 446.1 956.4 572.2 1,335.0 Gross Profit 198.3 103.2 92% 186.1 384.4 222.8 73% 549.5 GP Margin %28.0%27.2%29.4%28.7%28.0%29.2%Employee Expenses 58.6 39.4 53.2 111.8 75.2 159.8 Other Expenses 95.3 55.9 80.4 175.7 107.5 238.5 EBIDTA 44.4 7.9 465% 52.5 96.9 40.1 142% 151.2 EBIDTA Margin %6.3%2.1%8.3%7.2%5.0%8.0%Other Income 0.2 1.5 0.2 0.4 1.9 3.8 Depreciation & Amortisation 10.7 6.6 9.6 20.3 12.7 28.4 Finance Cost 4.9 2.6 3.9 8.8 4.7 13.6 Profit before Tax 29.0 0.2 14523% 39.2 68.2 24.5 178% 113.0 PBT Margin %4.1%0.1%6.2%5.1%3.1%6.0%Tax 3.7 (0.5) 8.6 12.3 4.9 26.2 PAT 25.3 0.7 3561% 30.6 55.9 19.6 185% 86.8 PAT Margin %3.6%0.2%4.8%4.2%2.5%4.6%Balance Sheet H1FY26 - Consolidated

Particulars (₹ in Cr)H1FY26FY2025Particulars (₹ in Cr)H1FY26FY2025ASSETSEQUITY AND LIABILITIESNon-current assetsEquityProperty, plant and equipment266.3 210.1 Equity share capital34.6 34.6 Capital Work in Progress4.3 4.2 Other equity 352.3 311.7 Right to use Assets1,053.1 652.4 Total - Equity386.9 346.3 Other intangible assets0.4 0.6 Intangible assets under development- - LIABILITIESFinancial assetsNon-current liabilitiesLoans- 1.4 Financial liabilitiesOther financial assets18.2 15.4 Borrowings12.6 18.9 Deferred tax assets (net)36.4 30.7 Lease Liability1,072.9 674.2 Non-Current tax assets (net)0.2 0.2 Other financial liabilities- - Other non-current assets22.7 27.1 Provisions11.0 8.3 Total - Non-Current Assets1,401.5 942.0 Total Non-Current Liabilities1,096.6 701.4 Current assetsCurrent liabilitiesInventories 827.8 558.2 Borrowings 155.0 96.7 Financial assetsLease Liability 72.0 60.1 Cash and cash equivalents 14.3 9.0 Trade payables 530.5 325.4 Bank balances other than cash & cash equivalents 0.9 0.4 Other financial liabilities 113.0 55.3 Other financial assets 11.5 10.1 Provisions 5.0 3.9 Trade Receivables 6.5 0.1 Other current liabilities 28.4 9.9 Other current assets 124.7 79.2 Total - Current Assets 985.8 657.1 Total - Current liabilities 903.8 551.3 TOTAL - ASSETS 2,387.3 1,599.1 TOTAL - EQUITY AND LIABILITIES 2,387.3 1,599.1 Q2 & H1FY26 Profit & Loss - Standalone

Particulars (₹ Cr)Q2 FY26Q2 FY25Y-O-Y% ChangeQ1 FY26H1FY26H1FY25Y-O-Y% ChangeFY25Revenue from Operations 704.9 380.0 85% 629.7 1,334.6 795.0 68% 1,884.5 COGS 507.6 286.6 446.6 954.1 591.3 1,366.9 Gross Profit 197.3 93.4 111% 183.1 380.4 203.7 87% 517.6 GP Margin %28.0%24.6%29.1%28.5%25.6%27.5%Employee Expenses 57.2 32.9 49.0 106.2 62.6 138.1 Other Expenses 54.3 29.7 43.7 98.0 57.0 127.1 EBIDTA 85.8 30.8 179% 90.5 176.3 84.1 110% 252.3 EBIDTA Margin %12.2%8.1%14.4%13.2%10.6%13.4%Other Income 0.5 2.4 0.8 1.2 3.6 5.4 Depreciation & Amortisation 37.3 21.8 31.7 69.0 42.0 94.7 Finance Cost 27.9 14.5 22.4 50.3 27.8 66.2 Profit before Tax 21.1 (3.2)766% 37.1 58.2 18.0 223% 96.7 PBT Margin %3.0%-0.8%5.9%4.4%2.3%5.1%Tax 3.0 (0.7) 9.4 12.4 4.7 25.8 PAT 18.1 (2.5)820% 27.7 45.8 13.4 243% 70.9 PAT Margin %2.6%-0.7%4.4%3.4%1.7%3.8%Q2 & H1FY26 Profit & Loss – Standalone (Pre Ind As)

Particulars (₹ Cr)Q2 FY26Q2 FY25Y-O-Y% ChangeQ1 FY26H1FY26H1FY25Y-O-Y% ChangeFY25Revenue from Operations 704.9 380.0 85% 629.7 1,334.6 795.0 68% 1,884.5 COGS 507.6 286.6 446.6 954.1 591.3 1,366.9 Gross Profit 197.3 93.4 111% 183.1 380.4 203.7 87% 517.6 GP Margin %28.0%24.6%29.1%28.5%25.6%27.5%Employee Expenses 58.3 33.3 49.6 107.9 63.2 138.7 Other Expenses 94.2 53.7 77.7 171.9 103.2 231.0 EBIDTA 44.8 6.4 603% 55.9 100.7 37.3 170% 147.9 EBIDTA Margin %6.4%1.7%8.9%7.5%4.7%7.8%Other Income 0.0 1.4 0.0 0.0 1.6 2.7 Depreciation & Amortisation 10.4 6.0 9.2 19.7 11.5 26.2 Finance Cost 4.8 2.3 3.7 8.4 4.2 12.5 Profit before Tax 29.6 (0.6)5216% 43.0 72.6 23.1 214% 111.9 PBT Margin %4.2%-0.2%6.8%5.4%2.9%5.9%Tax 3.0 (0.7) 9.4 12.4 4.7 25.8 PAT 26.6 0.1 34150% 33.6 60.2 18.5 226% 86.1 PAT Margin %3.8%0.0%5.3%4.5%2.3%4.6%Balance Sheet H1FY26 - Standalone

Particulars (₹ in Cr)H1FY26FY2025Particulars (₹ in Cr)H1FY26FY2025ASSETSEQUITY AND LIABILITIESNon-current assetsEquityProperty, plant and equipment258.9 192.6 Equity share capital34.6 34.6 Capital Work in Progress4.3 4.2 Other equity 354.9 310.4 Right to use Assets1,053.1 649.1 Total - Equity389.5 345.0 Other intangible assets0.2 0.3 Intangible assets under development- - LIABILITIESFinancial assetsNon-current liabilitiesInvestment in Subsidiary15.0 15.0 Financial liabilitiesOther financial assets17.8 13.2 Borrowings9.4 12.7 Deferred tax assets (net)36.0 30.4 Lease Liability1,072.9 670.8 Non-Current tax assets (net)- - Other financial liabilities- - Other non-current assets22.5 26.7 Provisions11.0 8.1 Total - Non-Current Assets1,407.9 931.4 Total Non-Current Liabilities1,093.4 691.6 Current assetsCurrent liabilitiesInventories806.0 526.2 Borrowings155.0 95.6 Financial assetsLease Liability72.0 60.0 Cash and cash equivalents13.5 7.6 Trade payables528.8 317.2 Bank balances other than cash & cash equivalents0.9 0.4 Other financial liabilities 112.6 54.2 Other financial assets11.8 10.2 Provisions5.0 3.9 Trade Receivables- 0.0 Other current liabilities28.4 9.6 Other current assets144.5 101.4 Total - Current Assets976.7 645.7 Total - Current liabilities901.7 540.5 TOTAL - ASSETS2,384.6 1,577.1 TOTAL - EQUITY AND LIABILITIES2,384.6 1,577.1 Cash Flow Statement

H1FY26H1FY25FY2025H1FY26H1FY25FY2025PBT 58.2 18.0 96.7 54.2 19.3 98.2 Adjustments 131.0 73.8 152.1 134.5 77.0 157.3 Operating profit before working capital changes 189.3 91.8 248.8 188.8 96.4 255.5 Changes in working capital (72.8) (1.4) (10.9) (79.0) (2.5) (7.9)Cash generated from operations 116.4 90.4 237.8 109.8 93.8 247.6 Direct taxes paid (net of refund) (0.0) 0.0 (25.0) (0.1) (0.1) (24.8)Net Cash from Operating Activities 116.4 90.4 212.9 109.8 93.7 222.7 Net Cash from Investing Activities (86.4) (46.7) (128.3) (77.2) (48.2) (130.5)Net Cash from Financing Activities (24.1) (46.1) (83.3) (27.2) (51.1) (92.7)Net Change in cash and cash equivalents 5.9 (2.5) 1.3 5.3 (5.6) (0.4)Opening Cash Balance 7.6 6.2 6.2 9.0 9.4 9.4 Closing Cash Balance 13.5 3.7 7.6 14.3 3.9 9.0 Particulars (₹ in Cr)StandaloneConsolidatedMedia & Promotion Campaigns

Media & Promotion Campaigns

Select New Stores Opening

About V2 Retail

Overview

Value & Variety

Established in 2001 under the visionary leadership of Mr. Ram Chandra Agarwal, V2 Retail Limited was founded with the mission to offer quality merchandise to the masses at affordable prices

Evolution Story

The company became publicly listed in 2007. In 2011, the 'Vishal' brand was sold due to operational losses, and the company was subsequently renamed V2 Retail Limited

Our motto 'Value & Variety' comes to life through a wide-ranging product portfolio that delivers exceptional quality and affordability—across every store, for every customer

Operational Excellence

V2 Retail proudly serves India’s growing ‘neo middle class’ and ‘middle class’ population delivering unbeatable value with monthly sales of ₹ 948 per square feet in H1 FY26 & ₹ 1,017 in FY25

Area of Operation

Stores Network

Primarily operates in Tier-II and Tier-III cities, running a chain of 'V2 Retail' stores that offer apparel and general merchandise for the entire family.

With a strong nationwide footprint, V2 Retail currently operates 259 stores across 195 + cities in 23 states, covering an expansive retail space of approximately 27.94 lac Sq. Ft.

Our mission is to democratize fashion by offering high-quality, trendy apparel at affordable prices to value conscious consumers across all tiers of cities

Key Operational Highlights FY25

Sales Per Square Feet

Sales per square feet (PSF) per month was ₹ 1,017 in FY25 as compared to

₹ 854 in FY24.

Stores Count & Retail Area

189 Stores at the end of FY25

(Opened 74 & Closed 2)

Total Retail Area ~20.27 lakh sq.ft.

Full Price Sales Contribution

MRP Sales at 89% in FY25 as compared to 87% in FY24.

Same Stores Sales Growth

Same stores sales growth (SSG) stood at ~29% for FY25.

Volume Growth

Volume growth for FY25 stood at 43% (Y-o-Y).

Average Selling Price

ASP was ₹ 297 in FY25 as compared to ₹ 263 in FY24.

Average Bill Value

ABV was ₹ 859 in FY25 as compared to ₹ 797 in FY24.

Revenue Mix

Men’s Wear 40%, Ladies Wear 27% Kids Wear 25% & LifeStyle 8%

Net Working Capital (NWC) days

NWC days reduced to 37 days in FY25 from 71 days in FY24

Revenue Mix & Growth Drivers

The key factors driving apparel business

Revenue Mix (%)

Occasions

Functional Needs

Occasions Drive Purchases Festivals| Weddings| Birthdays| Social Functions

Discount| Offers| Sale| Replace Old Clothes | Fashion

Emotional Needs

Brand Recall

New Seasons| New Trends| Fun times| Feels likes it

Kids

Boy, Girls, Infants, Winter Wear

Ladies

Men’s

Ethnic wear, Upper, Lower, Occasion Wear, Winter Wear, Sportswear

Upper, Lower, Occasion Wear, Winter Wear, Sportswear, Formal, Casual

Lifestyle

Lifestyle products sunglasses, ladies purse, etc.

like Deodorants, wallets,

•

[ ]

•

[ ]

Product Development

•

In House Product

development Team of 25

designers

• Creating unique & trend

setting designs

• Greater control over our

product portfolio

Product Design to Customer Delight at Retail Stores

Job Work

Warehouse & Logistic

Customer Delight

• Dedicated Job workers for own

designed products

• Helps in maintaining quality &

Inventory Management

• Centralised warehouse & distribution

• Ensuring a seamless process that

center at Gurgaon

• Own fleet of vehicles refill the

inventory at stores once a week

translates into superior products for our customers

• Happy & Satisfied Customers

Product Design

•

In House Product development Team of 60 including designers

• Creating unique & trend setting

designs

• Greater control over our product

portfolio

Supply Chain

Retail Presence

• Mix of own designed products as well as procure high quality products at a value

• Helps in Quality Control & Inventory

Management

• 259 Stores in more than 195 cities and

23 states

• Retail Area of ~ 27.94 lakh Sq.Ft.

•

[ ]

•

[ ]

Job Work

• Dedicated Job workers

for own designed

products

• Helps in maintaining

quality & Inventory

Management

Stores Experience

Board of Directors

Mr. Ram Chandra Agarwal, Chairman & Managing Director

Ms. Uma Agarwal, Whole Time Director

• Mr. Agarwal holds a bachelor’s degree

• Mrs. Agarwal holds a bachelor’s degree in

Commerce.

Arts.

• Has a vast experience of ~ 30 years of

• Has a vast experience of ~ 15 years in the

entrepreneurial and business

retail industry.

• He has been a member of the Board of Directors

• Has been a member of the Board of Directors

since inception.

• He provides strategic direction to the Company and is the driving force behind the establishment and growth of the Company.

• He is the pioneer in value retailing and brought

this concept in India.

• He was conferred several awards at different forums such as Ernst & Young Entrepreneur of the year award in 2008 and 4Ps Power Brand Award in 2007.

•

She oversees the marketing strategies of the Company.

Mr. Akash Agarwal, Whole Time Director

• Mr. Akash Agarwal holds an International IE University Spain and a Business from Lancaster

degree (BBA)

MBA from Bachelor’s Administration University (UK)

• He has more than 10 years of experience

in the Retail Industry.

• He

looks

after

E-Commerce,

Procurement and Finance.

Independent Directors

Dr. Arun Kumar Roopanwal Independent Director

Mrs. Archana S Yadav Independent Director

Mr. Srinivas Anand Mannava Independent Director

• He has over 35 Years of extensive experience in working with various retail companies.

• He is having a vast experience the field of Marketing, Product Development, Business Development, Strategic Planning and Administration.

• A Chartered Accountant in

practice with more than 14 years of experience, having expertise in GST, Income Tax, International Tax & Corporate Audits.

• She served as Financial Advisor to

the autonomous body M/s National Institute of Solar Energy, under Ministry of New & Renewable Energy. She has also worked with various MNC’s as Management Consultant, Service tax Consultant & Direct Tax advisor.

• She was appointed as GST Faculty by ICAI for GST knowledge sharing across India.

• Post-Graduate Program in

Business Management from IIM, Kozhikode.

• He has financial expertise and

extensive experience in Strategy Planning, Improving Shareholders Wealth, and Financial Journalism.

• He authored Investor Relations

book, published by ICFAI. Host IR Awards annually at BSE with Entities Like Bloomberg, BNY Mellon, KPMG, IR Magazine. Launched certification in Investor Relations in Association with BSE Institute.

Consolidated Profit & Loss

Particulars (₹ in Cr)FY2021FY2022FY2023FY2024FY2025Revenue from Operations538.6 629.2 838.9 1,164.7 1,884.5 Growth (%)-23.2%16.8%33.3%38.8%61.8%Gross Profit162.8 201.6 260.1 346.0 551.3 GP Margin (%)30.2%32.0%31.0%29.7%29.3%EBIDTA48.5 64.7 84.0 147.8 257.8 EBIDTA Margin (%)9.0%10.3%10.0%12.7%13.7%Other Income23.0 15.9 6.7 7.5 7.0 Depreciation55.5 58.8 67.1 76.7 98.6 Finance Cost31.3 36.6 40.6 47.2 67.9 PBT Before Exceptional Item(15.3) (14.9) (17.0) 31.4 98.2 PBT Margin (%)-2.7%-2.3%-2.0%2.7%5.2%PAT(12.8) (11.7) (12.8) 27.8 72.0 PAT Margin (%)-2.3%-1.8%-1.5%2.4%3.8%Total Comprehensive Income(12.9) (12.1) (13.0) 27.5 71.6 Consolidated Balance Sheet

Particulars (₹ in Cr)FY2025FY2024FY2023Particulars (₹ in Cr)FY2025FY2024FY2023ASSETSEQUITY AND LIABILITIESNon-current assetsEquityProperty, plant and equipment210.1 116.1 98.6 Equity share capital34.6 34.6 34.4 Capital Work in Progress4.2 0.2 0.1 Other equity 311.7 240.1 212.5 Right to use Assets652.4 361.5 305.8 Total - Equity346.3 274.7 246.9 Other intangible assets0.6 2.1 3.7 Intangible assets under development- - 0.3 LIABILITIESFinancial assets- - Non-current liabilitiesLoans1.4 - - Financial liabilitiesOther financial assets15.4 10.9 8.3 Borrowings18.9 16.4 7.2 Deferred tax assets (net)30.7 28.5 32.0 Lease Liability674.2 388.7 330.3 Non-Current tax assets (net)0.2 0.9 0.6 Other financial liabilities- - - Other non-current assets27.1 20.5 18.0 Provisions8.3 6.3 4.4 Total - Non-Current Assets942.0 540.7 467.4 Total Non-Current Liabilities701.4 411.4 341.9 Current assetsCurrent liabilitiesInventories558.2 418.9 278.9 Borrowings96.7 74.5 46.5 Financial assetsLease Liability60.1 45.9 39.8 Cash and cash equivalents9.0 9.4 4.9 Trade payables325.4 193.5 106.5 Bank balances other than cash & cash equivalents0.4 0.4 0.2 Other financial liabilities 55.3 20.0 7.4 Other financial assets10.1 6.1 1.1 Provisions3.9 3.1 2.4 Trade Receivables0.1 0.1 0.1 Other current liabilities9.9 4.0 1.9 Other current assets79.2 51.6 40.7 Total - Current Assets657.1 486.4 325.9 Total - Current liabilities551.3 341.0 204.4 TOTAL - ASSETS1,599.1 1,027.1 793.3 TOTAL - EQUITY AND LIABILITIES1,599.1 1,027.1 793.3 Standalone Profit & Loss

Particulars (₹ in Cr)FY2021FY2022FY2023FY2024FY2025Revenue from Operations538.6 629.2 838.9 1,164.7 1,884.5 Growth (%)-23.2%16.8%33.3%38.8%61.8%Gross Profit158.3 188.6 243.4 319.7 517.6 GP Margin (%)29.4%30.0%29.0%27.4%27.5%EBIDTA48.8 60.7 78.8 142.4 252.3 EBIDTA Margin (%)9.1%9.7%9.4%12.2%13.4%Other Income22.2 15.6 6.1 6.9 5.4 Depreciation53.8 56.6 63.9 72.5 94.7 Finance Cost30.2 36.1 39.9 46.1 66.2 PBT Before Exceptional Item-13.1 -16.4 -18.8 30.6 96.7 PBT Margin (%)-2.3%-2.5%-2.2%2.6%5.1%PAT-11.0 -12.9 -14.5 27.3 70.9 PAT Margin (%)-2.0%-2.0%-1.7%2.3%3.8%Total Comprehensive Income(11.0) (13.3) (14.6) 27.1 70.5 Standalone Balance Sheet

Particulars (₹ in Cr)FY2025FY2024FY2023Particulars (₹ in Cr)FY2025FY2024FY2023ASSETSEQUITY AND LIABILITIESNon-current assetsEquityProperty, plant and equipment192.6 95.2 85.7 Equity share capital34.6 34.6 34.4 Capital Work in Progress4.2 0.2 0.1 Other equity 310.4 239.9 212.8 Right to use Assets649.1 352.3 300.3 Total - Equity345.0 274.5 247.2 Other intangible assets0.3 1.5 3.1 Intangible assets under development- - 0.3 LIABILITIESFinancial assetsNon-current liabilitiesInvestment in Subsidiary15.0 15.0 15.0 Financial liabilitiesOther financial assets13.2 8.8 7.9 Borrowings12.7 3.9 - Deferred tax assets (net)30.4 27.9 31.2 Lease Liability670.8 381.0 326.3 Non-Current tax assets (net)- 0.6 0.5 Other financial liabilities- - - Other non-current assets26.7 20.3 17.7 Provisions8.1 6.0 4.3 Total - Non-Current Assets931.4 521.7 461.8 Total Non-Current Liabilities691.6 390.8 330.6 Current assetsCurrent liabilitiesInventories526.2 360.0 246.5 Borrowings95.6 73.5 46.5 Financial assetsLease Liability60.0 43.8 37.7 Cash and cash equivalents7.6 6.2 1.9 Trade payables317.2 159.1 93.0 Bank balances other than cash & cash equivalents0.4 0.4 0.2 Other financial liabilities 54.2 17.5 6.4 Other financial assets10.2 8.1 7.3 Provisions3.9 3.0 2.3 Trade Receivables0.0 0.1 0.1 Other current liabilities9.6 3.7 1.4 Other current assets101.4 69.6 47.5 Total - Current Assets645.7 444.4 303.5 Total - Current liabilities540.5 300.7 187.4 TOTAL - ASSETS1,577.1 966.1 765.2 TOTAL - EQUITY AND LIABILITIES1,577.1 966.1 765.2 Cash Flow Statement

FY2025FY2024FY2025FY2024PBT 96.7 30.6 98.2 31.4 Adjustments 152.1 131.3 157.3 136.4 Operating profit before working capital changes 248.8 161.9 255.5 167.8 Changes in working capital (10.9) (76.4) (7.7) (73.6)Cash generated from operations 237.8 85.4 247.8 94.2 Direct taxes paid (net of refund) (25.0) (0.1) (24.8) (0.7)Net Cash from Operating Activities 212.9 85.3 223.0 93.4 Net Cash from Investing Activities (128.3) (28.7) (130.7) (39.3)Net Cash from Financing Activities (83.3) (52.3) (92.7) (49.6)Net Change in cash and cash equivalents 1.3 4.3 (0.4) 4.5 Opening Cash Balance 6.2 1.9 9.4 4.9 Closing Cash Balance 7.6 6.2 9.0 9.4 Particulars (₹ in Cr)StandaloneConsolidatedRobust Standalone Financial Performance

Revenue (₹ Cr)

EBIDTA (₹ Cr) & EBIDTA Margin

PBT (₹ Cr)

PAT (₹ Cr)

Key Operating Matrix - Standalone

No. of Stores & Retail Space (lakh sq.ft.)

Inventory Holding Days

Sales Per Sq. Ft. (₹ Per Month)

Rent Per Sq. Ft. (₹ Per Month)

38 38

Operational Parameters (Consolidated)

Inventory (Days of Sales)

Creditors (Days of Sales)

Net Working Capital (Days of Sales)

Return on Equity (ROE)

23.2%10.7%-5.1%FY25FY24FY 23Disclaimer

This presentation and the accompanying slides (the “Presentation”), which have been prepared by V2 Retail Ltd. (the

“Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or

invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any

contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a

statutory offering document containing detailed information about the Company.

This Presentation has been prepared by the Company based on information and data which the Company considers

reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be

placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This

Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.

This presentation contains certain forward looking statements concerning the Company’s future business prospects and

business profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ

from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not

limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, competition (both domestic

and international), economic growth in India and abroad, ability to attract and retain highly skilled professionals, time and cost over runs on contracts, our ability to manage our international operations, government policies and actions regulations,

interest and other fiscal costs generally prevailing in the economy. The Company does not undertake to make any announcement in case any of these forward looking statements become materially incorrect in future or update any forward

looking statements made from time to time by or on behalf of the Company.

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V2 Retail Limited has informed the Exchange regarding 'Investor Presentation for Q2 H1 FY 2025-26'.

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