V-Mart Retail Limited (NSE:VMART) announced on 24 July 2026 the appointment of Suraj Rathor as Head of Finance and Senior Management Personnel, effective immediately. The announcement was made via a board meeting outcome filing with the National Stock Exchange. Simultaneously, the board approved the company's unaudited financial results for the quarter ended 30 June 2026, which showed net profit of Rs 4,721 lakhs.
Key Highlights
- The board of V-Mart Retail approved the appointment of Suraj Rathor as Head of Finance with effect from 24 July 2026, designating him as Senior Management Personnel under SEBI Listing Regulations.
- Suraj Rathor brings over 15 years of financial experience across Retail, Food & Beverage, and FMCG sectors, having joined V-Mart in 2023 as Head of Financial Planning and Analysis.
- Q1 FY27 revenue from operations stood at Rs 1,08,881 lakhs, an increase of 23.0 per cent year-on-year compared to Rs 88,522 lakhs in Q1 FY26.
- Net profit for Q1 FY27 reached Rs 4,721 lakhs, up 32.5 per cent from Rs 3,360 lakhs in the same quarter of the previous year.
- Basic earnings per share for Q1 FY27 was Rs 5.94 compared to Rs 4.23 in Q1 FY26, representing a 40.4 per cent year-on-year increase.
- EBITDA for Q1 FY27 stood at Rs 16,064 lakhs against Rs 12,617 lakhs in Q1 FY26, marking a 27.4 per cent growth year-on-year.
- The appointment follows Rathor's three years at V-Mart leading financial controllership, strategic planning, analytics, and investor relations functions.
About the Company
V-Mart Retail Limited is a value retail company operating in India, headquartered in New Delhi. The company operates a chain of retail stores under the V-Mart brand, selling apparel, footwear, and accessories across multiple regions in India. V-Mart is listed on both the National Stock Exchange (NSE:VMART) and BSE Limited (BSE:534976). The company operates through standalone fashion retail stores and focuses on the value segment of the Indian retail market. As of 30 June 2026, the company's paid-up equity share capital was Rs 7,955 lakhs with a face value of Rs 10 per share.
Announcement in Detail
The board of directors of V-Mart Retail Limited met on 24 July 2026, commencing at 10:35 AM and concluding at 1:15 PM, to approve key organisational and financial matters. Based on the recommendation of the Nomination and Remuneration Committee, the board formally approved the appointment of Suraj Rathor as Head of Finance with immediate effect from 24 July 2026. Consequent to this appointment, he has been designated as Senior Management Personnel of the company under SEBI Listing Regulations. The appointment disclosure complies with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.
Suraj Rathor's background demonstrates substantial financial leadership credentials. He holds a Bachelor of Commerce degree from Delhi University and is a member of the Institute of Chartered Accountants of India. Prior to his current promotion, Rathor has been serving as Head of Financial Planning and Analysis since joining V-Mart in 2023. In this role, he has led financial controllership, strategic planning, analytics, financial reporting, and investor relations functions. Before joining V-Mart, he held business controllership roles at Devyani International Limited, where he played a central role in supporting its IPO. He has accumulated over 15 years of professional experience across the Retail, Food and Beverage, and FMCG sectors, with an earlier eight-year tenure at KPMG.
Simultaneously, the board approved the unaudited financial results of V-Mart Retail for the first quarter ended 30 June 2026, which were reviewed and certified by the company's statutory auditors, S.R. Batliboi & Co. LLP. The Limited Review Report confirmed that the financial statements have been prepared in accordance with Indian Accounting Standard 34 and comply with Regulation 33 of the SEBI Listing Regulations.
Impact on Investors
Investors will note that the appointment of Suraj Rathor represents a continuity move rather than an external hire, as he has been embedded within V-Mart's financial function since 2023. The filing indicates that the appointment recognises his accumulated expertise in the company's strategic planning and financial reporting processes, reducing the transition risk typically associated with external Chief Financial Officer appointments. The designation of Head of Finance as Senior Management Personnel brings enhanced disclosure and governance requirements under SEBI Listing Regulations, ensuring greater transparency in his remuneration and related-party transactions going forward.
The quarterly financial results accompanying this announcement show operational momentum. Revenue from operations for Q1 FY27 grew 23.0 per cent year-on-year to Rs 1,08,881 lakhs. Net profit expanded 32.5 per cent to Rs 4,721 lakhs, outpacing revenue growth, indicating improving operational efficiency. The filing shows EBITDA grew 27.4 per cent year-on-year to Rs 16,064 lakhs, suggesting stronger margin performance. However, investors should note that the exceptional gain of Rs 92 lakhs relates to a one-time accounting adjustment following India's new Labour Codes, notified in November 2025. Excluding this item, operational profit before tax was Rs 5,952 lakhs. The company's paid-up capital increased marginally to Rs 7,955 lakhs from Rs 7,946 lakhs in the prior year, reflecting the issuance of 89,713 shares following the exercise of vested stock options under the Employee Stock Option Scheme 2020 and 2012.
Sector / Market Context
V-Mart operates within India's organized retail apparel and fashion segment, which has continued to recover and expand post-pandemic. The value retail subsegment, where V-Mart operates, caters to price-conscious consumers seeking branded and quality merchandise at affordable price points. India's retail sector has benefited from rising consumer spending, improved logistics infrastructure, and steady expansion of organised retail chains across Tier II and Tier III cities. The appointment of a dedicated finance leader as Senior Management Personnel aligns with regulatory expectations for retail companies to maintain strong financial governance and transparency as they scale operations.
The new Labour Codes, consolidated in November 2025 and applicable from that date, consolidate 29 existing labour laws in India into four codes covering wages, social security, industrial relations, and occupational safety. The company's disclosure that it has assessed and accounted for incremental impacts of these regulatory changes reflects the sector-wide requirement for retail and FMCG companies to reassess labour cost structures. The company stated it will continue monitoring state-level rule finalizations and will provide appropriate accounting adjustments once government clarifications are issued, a disclosure relevant to all labour-intensive retail operators.