{"id":324691,"date":"2026-10-22T15:58:09","date_gmt":"2026-10-22T10:28:09","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=324691"},"modified":"2026-10-22T15:58:09","modified_gmt":"2026-10-22T10:28:09","slug":"vishal-mega-mart-share-price-lost-30-percent-in-6-months-motilal-oswal-sees-39-percent-upside","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/vishal-mega-mart-share-price-lost-30-percent-in-6-months-motilal-oswal-sees-39-percent-upside\/","title":{"rendered":"Vishal Mega Mart Share Price Lost 30% in 6 Months: Motilal Oswal Sees 39% Upside"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Vishal Mega Mart share price was Rs 87.99 at 3:45 PM IST on 22 Oct 2026, down 2.23% from the previous close of Rs 90. Motilal Oswal has kept its Buy rating with a target of Rs 125, cut from Rs 135, which is about 42% above today&#8217;s price and about 39% above Rs 90 by my calculation. Q2 FY27 revenue rose 14% to Rs 3,398.5 crore while profit grew only 3.7%.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">Vishal Mega Mart share price has fallen about 30% in six months, according to the headline, because growth and margins slowed in Q2 FY27 and the results missed estimates. Motilal Oswal still rates the stock a Buy with a target of Rs 125, lowered from Rs 135, and expects gross margins to stabilise in the second half. Q2 revenue rose 14% to Rs 3,398.5 crore but net profit rose only 3.7% to Rs 157.9 crore, and same-store sales growth was 5.4%. The stock trades near 46 times earnings, so the recovery depends on festive demand turning into higher margins.<\/p>\n<\/p><\/div>\n<p>Vishal Mega Mart share price has been one of the weaker large retail stocks since the Q2 FY27 results, with the stock falling about 5% on 21 Oct and another 2.23% on 22 Oct. The fall has pushed the price well below the levels that brokerages once used for their targets, which is why Motilal Oswal sees a large gap to value.<\/p>\n<p>This article on Vishal Mega Mart share price explains the Q2 FY27 numbers, why growth was lower than expected, what Motilal Oswal says, the valuation and the risks. It is educational and not a recommendation to buy or sell.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=vishal-mega-mart-share-price-lost-30-percent-in-6-months-motilal-oswal-sees-39-percent-upside\">Click Here &#8211; Get Free Investment Predictions<\/a><\/strong><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/vishal-mega-mart-share-price-lost-30-percent-in-6-months-motilal-oswal-sees-39-percent-upside\/#Vishal_Mega_Mart_Share_Price_Today\" title=\"Vishal Mega Mart Share Price Today\">Vishal Mega Mart Share Price Today<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/vishal-mega-mart-share-price-lost-30-percent-in-6-months-motilal-oswal-sees-39-percent-upside\/#Vishal_Mega_Mart_Share_Price_and_the_Q2_FY27_Results\" title=\"Vishal Mega Mart Share Price and the Q2 FY27 Results\">Vishal Mega Mart Share Price and the Q2 FY27 Results<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/vishal-mega-mart-share-price-lost-30-percent-in-6-months-motilal-oswal-sees-39-percent-upside\/#Why_Growth_Was_Lower_Than_Expected\" title=\"Why Growth Was Lower Than Expected\">Why Growth Was Lower Than Expected<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/vishal-mega-mart-share-price-lost-30-percent-in-6-months-motilal-oswal-sees-39-percent-upside\/#What_Motilal_Oswal_Says_on_Vishal_Mega_Mart_Share_Price\" title=\"What Motilal Oswal Says on Vishal Mega Mart Share Price\">What Motilal Oswal Says on Vishal Mega Mart Share Price<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/vishal-mega-mart-share-price-lost-30-percent-in-6-months-motilal-oswal-sees-39-percent-upside\/#Store_Network_and_Quick_Commerce\" title=\"Store Network and Quick Commerce\">Store Network and Quick Commerce<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/vishal-mega-mart-share-price-lost-30-percent-in-6-months-motilal-oswal-sees-39-percent-upside\/#Vishal_Mega_Mart_Share_Price_Valuation\" title=\"Vishal Mega Mart Share Price Valuation\">Vishal Mega Mart Share Price Valuation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/vishal-mega-mart-share-price-lost-30-percent-in-6-months-motilal-oswal-sees-39-percent-upside\/#Vishal_Mega_Mart_Share_Price_Buy_Hold_or_Wait\" title=\"Vishal Mega Mart Share Price: Buy, Hold or Wait?\">Vishal Mega Mart Share Price: Buy, Hold or Wait?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/vishal-mega-mart-share-price-lost-30-percent-in-6-months-motilal-oswal-sees-39-percent-upside\/#What_to_Watch_Next_on_the_Vishal_Mega_Mart_Share_Price\" title=\"What to Watch Next on the Vishal Mega Mart Share Price\">What to Watch Next on the Vishal Mega Mart Share Price<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/vishal-mega-mart-share-price-lost-30-percent-in-6-months-motilal-oswal-sees-39-percent-upside\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/vishal-mega-mart-share-price-lost-30-percent-in-6-months-motilal-oswal-sees-39-percent-upside\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/vishal-mega-mart-share-price-lost-30-percent-in-6-months-motilal-oswal-sees-39-percent-upside\/#Why_did_the_Vishal_Mega_Mart_share_price_fall_after_the_Q2_FY27_results\" title=\"Why did the Vishal Mega Mart share price fall after the Q2 FY27 results?\">Why did the Vishal Mega Mart share price fall after the Q2 FY27 results?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/vishal-mega-mart-share-price-lost-30-percent-in-6-months-motilal-oswal-sees-39-percent-upside\/#What_is_the_Motilal_Oswal_target_for_Vishal_Mega_Mart\" title=\"What is the Motilal Oswal target for Vishal Mega Mart?\">What is the Motilal Oswal target for Vishal Mega Mart?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/vishal-mega-mart-share-price-lost-30-percent-in-6-months-motilal-oswal-sees-39-percent-upside\/#What_is_the_Vishal_Mega_Mart_share_price_today\" title=\"What is the Vishal Mega Mart share price today?\">What is the Vishal Mega Mart share price today?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/vishal-mega-mart-share-price-lost-30-percent-in-6-months-motilal-oswal-sees-39-percent-upside\/#What_were_the_Vishal_Mega_Mart_Q2_FY27_results\" title=\"What were the Vishal Mega Mart Q2 FY27 results?\">What were the Vishal Mega Mart Q2 FY27 results?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/vishal-mega-mart-share-price-lost-30-percent-in-6-months-motilal-oswal-sees-39-percent-upside\/#Is_the_Vishal_Mega_Mart_share_price_expensive\" title=\"Is the Vishal Mega Mart share price expensive?\">Is the Vishal Mega Mart share price expensive?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/vishal-mega-mart-share-price-lost-30-percent-in-6-months-motilal-oswal-sees-39-percent-upside\/#Will_festive_demand_help_Vishal_Mega_Mart\" title=\"Will festive demand help Vishal Mega Mart?\">Will festive demand help Vishal Mega Mart?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/vishal-mega-mart-share-price-lost-30-percent-in-6-months-motilal-oswal-sees-39-percent-upside\/#What_are_the_risks_to_the_Vishal_Mega_Mart_share_price\" title=\"What are the risks to the Vishal Mega Mart share price?\">What are the risks to the Vishal Mega Mart share price?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/vishal-mega-mart-share-price-lost-30-percent-in-6-months-motilal-oswal-sees-39-percent-upside\/#Is_this_article_investment_advice\" title=\"Is this article investment advice?\">Is this article investment advice?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Vishal_Mega_Mart_Share_Price_Today\"><\/span><strong>Vishal Mega Mart Share Price Today<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Vishal Mega Mart share price: point<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Level on 22 Oct 2026<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Previous close<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 90.00<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Open<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 89.90<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Day high<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 90.65<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Day low<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 86.63<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Price at 3:45 PM<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 87.99, down 2.23%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Volume<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 1.79 crore shares<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Market capitalisation<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About Rs 41,170 crore (my calculation)<\/td>\n<\/tr>\n<\/table>\n<p>The Vishal Mega Mart share price opened near the previous close, never rose above Rs 90.65 and slipped to a low of Rs 86.63. Volume of about 1.79 crore shares shows heavy selling interest after the results. On 21 Oct one report put the price at Rs 89.78 at 2:11 PM, down 4.93%, so the stock has now lost close to 7% in two sessions (my calculation from the reported levels).<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/screeners\">Track retail and consumption stocks on the Univest screeners page<\/a><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Vishal_Mega_Mart_Share_Price_and_the_Q2_FY27_Results\"><\/span><strong>Vishal Mega Mart Share Price and the Q2 FY27 Results<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Vishal Mega Mart share price: Q2 FY27 metric<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Q2 FY26<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Q2 FY27<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Change<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Revenue from operations (Rs crore)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">2,981.5<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">3,398.5<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 14%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Gross profit (Rs crore)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 843<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">950.1<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 12.7%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Reported EBITDA (Rs crore)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 395<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">412<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 4.4%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Net profit (Rs crore)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">152.3<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">157.9<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 3.7%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Profit before ESOP charges (Rs crore)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">161.7<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">172<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 6.4%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Reported EBITDA margin<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">13.2%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">12.1%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Down 1.1 points<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Net profit margin<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">5.1%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">4.6%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Down 0.5 points<\/td>\n<\/tr>\n<\/table>\n<p>Revenue grew 14% but profit grew only 3.7%, so costs rose faster than sales. Motilal Oswal said revenue growth was below its 16% estimate and that EBITDA and profit were about 5% below its estimates. The company&#8217;s operating EBITDA before Ind AS 116 and ESOP charges was Rs 262.2 crore, up 3.7%, with a margin of 7.7% against 8.5%. Motilal Oswal quotes a pre-Ind AS EBITDA margin of 7.2%, down 90 basis points, so the two sources use different definitions.<\/p>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to follow results and stock alerts.<\/em><\/p>\n<p><strong>Risk:<\/strong> When revenue grows 14% and profit only 3.7%, any further rise in staff or ESOP costs can keep earnings growth in single digits.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Growth_Was_Lower_Than_Expected\"><\/span><strong>Why Growth Was Lower Than Expected<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Vishal Mega Mart share price: reason for the miss<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Detail<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Festive timing<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">The festival calendar moved sales out of the quarter, worth 3 to 4 points of same-store growth<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Same-store sales growth<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">5.4% reported, about 9% without the festive shift according to the company<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Employee costs<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Higher, including wage adjustments and ESOP expenses<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Gross margin<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Lower, with Motilal Oswal expecting it to stabilise in the second half<\/td>\n<\/tr>\n<\/table>\n<p>The festive shift explains part of the weak same-store sales number, but it does not explain the higher staff costs. Motilal Oswal also notes that early Q3 data show strong festive demand, which supports the view that the sales slip was timing. The Vishal Mega Mart share price will need Q3 to confirm that.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_Motilal_Oswal_Says_on_Vishal_Mega_Mart_Share_Price\"><\/span><strong>What Motilal Oswal Says on Vishal Mega Mart Share Price<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Vishal Mega Mart share price: Motilal Oswal view<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Detail<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rating<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Buy, maintained<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Target price<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 125, cut from Rs 135<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Upside at Rs 87.99<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 42% (my calculation)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Upside at Rs 90<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 39%, matching the headline<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Same-store sales growth target for FY27<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">10%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Margin expansion<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 30 basis points a year from scale benefits<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Second half view<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Gross margins to stabilise<\/td>\n<\/tr>\n<\/table>\n<p>The target price cut of about 7% (my calculation from Rs 135 to Rs 125) shows that even the brokerage that stays positive has lowered its expectations. The call rests on three things: festive demand that looks strong, gross margins that stop falling, and steady store expansion. If any of these fails, the Rs 125 target price could be cut again. A target is an opinion and not a promise.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Store_Network_and_Quick_Commerce\"><\/span><strong>Store Network and Quick Commerce<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Vishal Mega Mart share price: network point<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Detail as of 30 Sep 2026<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Total stores<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">844 across 582 cities<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Gross store additions in Q2<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">26<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Retail area<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 1.41 crore sq ft<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Quick commerce reach<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">781 stores in 532 cities<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Registered quick commerce users<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 1.5 crore<\/td>\n<\/tr>\n<\/table>\n<p>The company serves value-seeking families in smaller cities, and its network of 844 stores gives it a wide base. Quick commerce adds a new channel with about 1.5 crore registered users, though the revenue from it is not separated in the reports I found. For the first half of FY27, revenue rose 16.4% to Rs 7,125.5 crore and net profit rose 16.3% to Rs 416.6 crore, so the first-half record is better than Q2 alone.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Vishal_Mega_Mart_Share_Price_Valuation\"><\/span><strong>Vishal Mega Mart Share Price Valuation<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Vishal Mega Mart share price: valuation measure<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Figure<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Trailing EPS<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1.92<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">P\/E at the previous close<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">46.82 times<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">P\/E at Rs 87.99<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 45.8 times (my calculation)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Industry P\/E<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">63.41 times<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Book value per share<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 16.85<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Price to book at Rs 87.99<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 5.2 times (my calculation)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Return on equity<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">11.32%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Debt to equity<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">0.27<\/td>\n<\/tr>\n<\/table>\n<p>The Vishal Mega Mart share price at about 46 times earnings is below the industry multiple of 63 but is still a high multiple for a business whose profit grew 3.7%. A return on equity of 11.32% is decent and debt is low at 0.27, which are strengths. The Vishal Mega Mart share price is also in the F&#038;O segment, so derivative positions can add to daily swings.<\/p>\n<p>The headline says the stock lost 30% in six months. I could not verify that exact figure from a price series, so treat it as the report&#8217;s number. If it is right, the stock was near Rs 126 six months ago (my calculation), which is close to Motilal Oswal&#8217;s new target of Rs 125.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Vishal_Mega_Mart_Share_Price_Buy_Hold_or_Wait\"><\/span><strong>Vishal Mega Mart Share Price: Buy, Hold or Wait?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Vishal Mega Mart share price: investor type (my reading)<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Points to weigh<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Long-term investor<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">A wide store network, low debt and a brokerage target of Rs 125 support the case, but margins must recover<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">New buyer<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Waiting for Q3 festive numbers gives more evidence; staggered buying limits the timing risk<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Short-term trader<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">The Rs 86.63 to Rs 90.65 range is the near-term reference; a close below Rs 86.63 would show further weakness<\/td>\n<\/tr>\n<\/table>\n<p>This is an educational view and not advice. A 39% upside on paper is attractive, but the stock has been falling on results and not on general market weakness alone, so patience matters more than speed for the Vishal Mega Mart share price.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_to_Watch_Next_on_the_Vishal_Mega_Mart_Share_Price\"><\/span><strong>What to Watch Next on the Vishal Mega Mart Share Price<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li>Festive sales in Q3 FY27 and whether same-store growth moves toward the 10% target for the Vishal Mega Mart share price<\/li>\n<li>Gross margin trends after the fall in the second quarter<\/li>\n<li>Employee and ESOP costs against sales growth<\/li>\n<li>Any further target price cuts or raises from other brokerages<\/li>\n<li>Whether the Vishal Mega Mart share price holds above the Rs 86.63 day low<\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Vishal Mega Mart share price is down about 30% in six months and fell 2.23% to Rs 87.99 today, but Motilal Oswal keeps a Buy with a Rs 125 target. Revenue growth of 14% against profit growth of 3.7% shows the margin problem, and festive demand in Q3 is the test. Read the filings and decide on your own horizon.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Why_did_the_Vishal_Mega_Mart_share_price_fall_after_the_Q2_FY27_results\"><\/span><strong>Why did the Vishal Mega Mart share price fall after the Q2 FY27 results?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Revenue rose 14% but net profit grew only 3.7% to Rs 157.9 crore, and the results missed estimates by about 5% at the profit level. Same-store sales growth was 5.4% and employee costs were higher.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_Motilal_Oswal_target_for_Vishal_Mega_Mart\"><\/span><strong>What is the Motilal Oswal target for Vishal Mega Mart?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Motilal Oswal maintains Buy with a target price of Rs 125, cut from Rs 135. That is about 42% above Rs 87.99 and about 39% above Rs 90 by my calculation.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_Vishal_Mega_Mart_share_price_today\"><\/span><strong>What is the Vishal Mega Mart share price today?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The stock traded at Rs 87.99 at 3:45 PM IST on 22 Oct 2026, down 2.23% from Rs 90. The day range was Rs 86.63 to Rs 90.65 with about 1.79 crore shares traded.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_were_the_Vishal_Mega_Mart_Q2_FY27_results\"><\/span><strong>What were the Vishal Mega Mart Q2 FY27 results?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Revenue was Rs 3,398.5 crore, up 14%, and net profit was Rs 157.9 crore, up 3.7%. Reported EBITDA rose 4.4% to Rs 412 crore, and the reported EBITDA margin fell to 12.1% from 13.2%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_the_Vishal_Mega_Mart_share_price_expensive\"><\/span><strong>Is the Vishal Mega Mart share price expensive?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The P\/E is about 45.8 times at Rs 87.99 by my calculation, against an industry P\/E of 63.41. The price to book is about 5.2 and return on equity is 11.32%, so it is not low for profit growth of 3.7%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Will_festive_demand_help_Vishal_Mega_Mart\"><\/span><strong>Will festive demand help Vishal Mega Mart?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Motilal Oswal notes that early Q3 data show robust festive demand, and the company says same-store growth would have been about 9% without the festive shift in Q2. Q3 results will confirm whether this turns into profit.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_risks_to_the_Vishal_Mega_Mart_share_price\"><\/span><strong>What are the risks to the Vishal Mega Mart share price?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Lower gross margins, rising employee and ESOP costs, a further miss against estimates and more target cuts. The stock also trades in F&#038;O, which can increase daily swings.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_this_article_investment_advice\"><\/span><strong>Is this article investment advice?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> No. It is educational and not a recommendation to buy or sell. Please check the figures against company filings and your own risk profile before you act on anything you read here.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Why did the Vishal Mega Mart share price fall after the Q2 FY27 results?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Revenue rose 14% but net profit grew only 3.7% to Rs 157.9 crore, and the results missed estimates by about 5% at the profit level. Same-store sales growth was 5.4% and employee costs were higher.\"}},{\"@type\":\"Question\",\"name\":\"What is the Motilal Oswal target for Vishal Mega Mart?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Motilal Oswal maintains Buy with a target price of Rs 125, cut from Rs 135. That is about 42% above Rs 87.99 and about 39% above Rs 90 by my calculation.\"}},{\"@type\":\"Question\",\"name\":\"What is the Vishal Mega Mart share price today?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The stock traded at Rs 87.99 at 3:45 PM IST on 22 Oct 2026, down 2.23% from Rs 90. The day range was Rs 86.63 to Rs 90.65 with about 1.79 crore shares traded.\"}},{\"@type\":\"Question\",\"name\":\"What were the Vishal Mega Mart Q2 FY27 results?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Revenue was Rs 3,398.5 crore, up 14%, and net profit was Rs 157.9 crore, up 3.7%. 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Q2 FY27 results, margins, festive demand, valuation and risks.<\/p>\n","protected":false},"author":35,"featured_media":324690,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[842],"tags":[14924,5070,14926,14927,14923,14921,14922,14920,10215,14925],"class_list":["post-324691","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-motilal-oswal-buy-rating","tag-retail-stocks","tag-same-store-sales-growth-2","tag-vishal-mega-mart-30-percent-fall","tag-vishal-mega-mart-buy-or-sell","tag-vishal-mega-mart-motilal-oswal-target","tag-vishal-mega-mart-q2-fy27-results","tag-vishal-mega-mart-share-price","tag-vishal-mega-mart-target-price","tag-vishal-mega-mart-valuation"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["324690"],"rank_math_title":["Vishal Mega Mart Share Price: Motilal Oswal Sees 39% Upside"],"rank_math_description":["Vishal Mega Mart share price fell 30% in 6 months, yet Motilal Oswal keeps Buy with a Rs 125 target. See Q2 FY27 results, margins, festive demand, valuation and risks."],"rank_math_focus_keyword":["Vishal Mega Mart share price"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/10\/vishal-mega-mart-share-price-lost-30-in-6-months-motilal-oswal-sees-39-upside.webp","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/324691","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=324691"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/324691\/revisions"}],"predecessor-version":[{"id":324692,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/324691\/revisions\/324692"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/324690"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=324691"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=324691"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=324691"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}