PESB research view: HoldStock
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PESB recommendation · Stock
₹164.62▲ 3.36 (+2.08%) todayNSE · as of 3 Nov 2026, 5:30 am
Recommended on 21 Apr 2026 by Aman Bansal
Our recommendation read against today's market data.
V2 Retail Ltd. is an organised fashion retail chain offering affordable, trendy apparel and lifestyle products across men's, women's and kids' categories. Established in 2001 by Ram Chandra Agarwal, the company follows a value-and-variety business model, targeting India's growing middle-class and aspirational consumers, primarily across Tier II and Tier III cities.
We are constructive on V2 Retail, with the combination of 50%+ revenue growth, 8-10% targeted SSSG, rapid store additions and attractive new-store economics providing a strong multi-year growth runway. As the large new-store cohorts mature towards ₹1,070-1,100/sq ft productivity, working capital normalizes and the pace of expansion eventually moderates, we expect operating leverage and margin expansion to become increasingly visible, making V2 a potentially strong long-term compounder in India's underpenetrated value-fashion segment.
Research by Pune E-Stock Broking Ltd., SEBI Research Analyst Reg. No. INH000018197. Investments in the securities market are subject to market risks; read all related documents carefully before investing. Past performance is not indicative of future returns.
Market data from Accord; delayed, for information only.
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