Vishal Mega Mart share price rises as shareholder lock-in period ends

The stock climbed 1.57% to ₹101 apiece on the National Stock Exchange (NSE) at 9:22 am.

As many as 15.38 crore shares of Vishal Mega Mart became eligible for trade on Monday, the end of the three-month lock-in period.

The end of the lock-in period does not imply that all shares will be sold in the open market but will become eligible for trading.

Vishal Mega Mart shares debuted at ₹104 apiece on the NSE, a premium of 33.33% over the issue price of ₹78 per unit.

As of December 31, 2024, the company had 9.13 lakh retail investors. The domestic mutual funds, as of the latest December quarter, had an 8.66% stake in the company, while foreign portfolio investors had a 6.68% stake.

Vishal Mega Mart posted a 27.9% rise in its consolidated net profit to ₹262.7 crore in the third quarter of the financial year 2024-25, compared to ₹205.4 crore in the same period last fiscal year.

Revenue from operations climbed 19.5% to ₹3,135.9 crore in Q3 FY25 as against ₹2,623.6 crore in the year-ago quarter.

Total income grew 19.8% to ₹3,154.9 crore in the latest December quarter from ₹2,633.7 crore a year back.

In the reporting quarter, the company opened 23 net new stores, bringing the total number of stores to 668 across 432 cities and a total area of 11.8 million square feet.

The apparel segment contributed 45% to the revenue, the general merchandise business contributed 28% and FMCG's contribution was 28% for the nine-month period that ended December 2024.

Gunender Kapur, Managing Director and Chief Executive Officer (CEO) said, "We focus on the middle and lower-middle income groups in India, representing the largest consumer segment in India. Our consumer-centric approach, coupled with an enhanced consumer value proposition, a unique merchandise mix at attractive price points, and enhanced in-store experience, has helped drive strong SSSG (Same Store Sales Growth) of 10.5% in Q3FY25 and 11.3% in 9MFY25."

The retail chain operator had a customer base of 141 million as of December 31, 2024.