V2 Retail shares fell as much as 20% intraday on 5 October 2026, touching Rs 162.55 on the BSE, even though the company reported 28.4% year-on-year growth in standalone Q2 FY27 revenue. The Economic Times market profile recorded a smaller, but still sharp, 15.95% decline at the close. The reported same-store-sales figure was much weaker on a calendar-quarter basis than on a festival-normalised basis, amid a shift in major festivals between the comparison quarters.
What happened to V2 Retail shares on 5 October?
ETMarkets reported that V2 Retail fell as much as 20% intraday to Rs 162.55 on the BSE on Monday, 5 October 2026. That is the day’s reported low, not the closing return. The Economic Times’ market profile recorded a 15.95% decline from the previous close for that date. The Economic Times market profile provides the closing figure.
The figures describe different points in the trading session: the intraday fall reached 20%, while the close-to-previous-close decline was 15.95%. The available reporting does not establish a complete explanation for why investors sold the shares, so the festival shift should not be treated as the sole proven cause of the fall.
How did revenue rise while same-store sales were weak?
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. Its account attributed the growth to continued store expansion. Total revenue includes sales from the broader, expanding network; same-store sales growth (SSSG) compares sales at comparable stores. The two measures therefore answer different questions and can move in different directions.
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For SSSG, ETMarkets reported 0.5% on a festival-normalised basis and -14.9% on a calendar basis. These are alternative comparisons, not conflicting readings of the same comparison method. ETMarkets’ 5 October report attributes the divergence to the timing of Navratri and Durga Puja.
Why festival timing changes the comparison
Those festivals fell in Q2 FY26 but shifted to October 2026, which was Q3 FY27. A straight calendar-quarter comparison therefore puts festival-period sales in the earlier quarter but not the later one, contributing to a weak Q2 FY27 calendar-basis SSSG comparison. Festival-normalising the comparison adjusts for that timing difference, producing the reported 0.5% figure instead of -14.9%.
What the store numbers add to the picture
ETMarkets reported that V2 Retail had 427 stores, including 106 opened in H1 FY27, and monthly sales per square foot of Rs 700. The report relayed the company’s view that more stores remained in their ramp-up phase. That context is consistent with an expanding network contributing to total revenue while comparable-store performance presents a different picture.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What V2 Retail expected for Q3 FY27
ETMarkets said the company expected to capture festive demand in Q3 FY27, when Navratri and Durga Puja fell. That is a forward-looking expectation reported on 5 October 2026, not evidence that the anticipated demand subsequently materialised.
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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 available for independent review. The operating figures and company outlook in this article are therefore attributed to ETMarkets’ report rather than presented as independently verified against the filing.
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