The stock was trading 10.89% higher at ₹114.69 as of 10:33 am, putting it on track for its highest single-day gain since its listing in December 2024.
Kapur to continue as MD, CEO till 2031
On August 21, Vishal Mega Mart’s board approved Kapur’s reappointment for five years from September 1, 2026, through August 31, 2031, subject to shareholder approval. He will also be redesignated as Founder, Managing Director & Chief Executive Officer of the company.Kapur was originally appointed as Managing Director and CEO for a three-year term beginning June 27, 2024. His current term was due to expire on June 26, 2027.
The company said that the latest decision was based on the recommendation of the company’s Nomination and Remuneration Committee.
According to the company’s exchange filing, Kapur has over 42 years of experience in management and investment across the consumer and retail sectors. He has previously been associated with Hindustan Lever, Unilever Nigeria, Reliance Industries and TPG Capital.
Vishal Mega Mart clarified that Kapur is not related to any of its directors and is not debarred from holding the office of director by any Securities and Exchange Board of India (SEBI) order or other authority.
Q1 results
Vishal Mega Mart reported 26% year-on-year growth in net profit to ₹259 crore in Q1FY27, while revenue rose 18.7% to ₹3,727 crore from ₹3,140 crore a year earlier. EBITDA increased 18.7% to ₹545 crore, with the EBITDA margin remaining stable at 14.6%.The retailer added 24 net new stores during the quarter, taking its total store count to 819, while same-store sales growth stood at 10% year-on-year. Apparel contributed 47.4% of revenue, followed by general merchandise at 27.3% and FMCG at 25.2%. Own brands accounted for 75.2% of revenue.
Vishal Mega Mart has also expanded its quick-commerce initiative to 767 stores across 520 cities and had a registered user base of 1.41 crore. About the Q1 performance, Managing Director and CEO Gunender Kapur had said that the elevated inflation had weighed on demand in Q1, but the company expected the impact to taper in subsequent quarters, while remaining confident about its growth strategy.
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