About Vishal Mega Mart Limited 

Vishal Mega Mart Limited is an Indian value retail chain incorporated in 2018, headquartered at Udyog Vihar, Gurugram, Haryana, with its corporate website at www.aboutvishal.com. The Company focuses on making aspirations accessible and affordable for young, middle‑income customers by offering fashion, general merchandise and fast‑moving consumer goods under one roof, sold through online and physical stores. As of March 31, 2025, Vishal Mega Mart operated 696 stores across 458 cities in 28 states and 2 union territories, serving customers nationwide; the Company had no international operations during the year.

A key milestone in its journey was the successful Initial Public Offering via Offer for Sale, with listing on BSE and NSE effective December 18, 2024. The issue comprised 1,02,56,41,025 equity shares at an issue price of Rs 78 per share, aggregating to Rs 80,000 million, and was oversubscribed by approximately 28.75 times. The Company reported that this is its first Annual Report as a publicly listed entity, underscoring a new era for the brand. Vishal Mega Mart operates through two subsidiaries (both wholly owned) as on March 31, 2025.

Vishal Mega Mart Limited’s Business Segments

• Apparel: 44% of turnover (retail sales through online and physical stores).
• General Merchandise: 28% of turnover.
• Fast Moving Consumer Goods: 28% of turnover.
• Domestic vs. International: The Company had no exports in FY 2024-25 (i.e., 100% domestic).

Vishal Mega Mart Limited Key Management

• Neha Bansal, Chairperson.
• Gunender Kapur, Managing Director & Chief Executive Officer.
• Amit Gupta, Chief Financial Officer.
• Manoj Kumar, Chief Operations Officer.
• Karthik Kuppusamy, Chief Information Officer.
• Dhruva Kumar Dubey, Chief Human Resources Officer.
• Anne Martine Marie Puvis Cardinali, Chief B&M Officer – Apparel.
• Vishal Mehrotra, Chief B&M Officer – FMCG.
• Samir Agrawal, Chief B&M Officer – General Merchandising.
• S Raamesh, Vice President – Supply Chain.
• Kuldeep Sharma, Vice President, Legal and Compliance.
• Rahul Luthra, Company Secretary & Compliance Officer.

Latest Updates on Vishal Mega Mart Limited

• Public listing: Equity shares listed on BSE and NSE on December 18, 2024, after an IPO that was oversubscribed by approximately 28.75 times; issue price was Rs 78 per share, aggregating to Rs 80,000 million.
• Network expansion: Store count expanded to 696 during the year, reinforcing the Company’s nationwide reach across 458 cities in 28 states and 2 union territories as of March 31, 2025  .
• Product strategy: Private brands contributed 73% of revenue; Adjusted Same Store Sales Growth was 12.3%, and gross margins stood at 28.5% with an improvement of 82 basis points year‑on‑year.
• Shareholder approvals: Shareholders approved amendments to the Vishal Mega Mart Employees Stock Options Plan 2019 and ratified extending benefits to eligible employees of subsidiaries via postal ballot in February 2025.
• Leadership changes: The Board designated Gunender Kapur as Managing Director & CEO with effect from June 27, 2024, appointed Neha Bansal as Chairperson effective July 04, 2024, and appointed Rahul Luthra as Company Secretary with effect from April 24, 2024.