Vishal Mega Mart’s revenue recorded a 26% compounded annual growth rate (CAGR) to ₹8,911 crore in FY24 from ₹5,588 crore in FY22. Similarly, net profit rose 51% CAGR to ₹462 crore in FY24. The Ebitda margin for FY24 stood at 14% with adjusted return on capital employed (ROCE) at 71%.

The company has a track record of profitable and capital-efficient growth. As much as 70% of its stores are in tier II cities and beyond, which have low organised retail store densities and where consumers gravitate towards products that are good in quality and functionality while being affordable. With the rising cost of living hurting consumer demand, affordable retail models are likely to gain favour with value-conscious Indian consumers.