Latest news with #Kirana
News18
23-06-2025
- Business
- News18
This Small-Cap Retail Stock Plunged 74% On Monday, What Triggered The Nosedive?
V-Mart Share Price: V-Mart Retail shares adjusted by 74 per cent on Monday following a bonus issue in the ratio of 3:1. The price dropped to Rs 921.90 per share from Rs 3,558 per share. This price adjustment occurs when the number of a company's shares increases due to bonus, split, or rights issues, aligning with the new price. As a result, the value of investors' holdings remains unchanged, but the number of shares they hold increases. Founded in 2002, V-Mart is an omni retail store chain for the complete family, offering fashion apparel, footwear, home furnishings, general merchandise and Kirana. Primarily focusing on Tier II and Ill cities, V-Mart is present pan-India with an average store advetisement size of 8,000 sq. ft. It follows the concept of 'value retailing' by fulfilling the growing aspiration of the rapidly expanding middle class for affordable, high-quality fashion. V-Mart Retail Bonus Issue 2025 The Board of Directors in its meeting held on May 02, 2025 has approved, subject to shareholder approval, the issue of 3 fully paid bonus equity shares for every 1 fully paid equity share of face value Rs 10. The Board of Directors has fixed Monday, June 23, 2025 as the Record Date for the purpose of determining the equity shareholders of the Company eligible for bonus equity shares of the Company. The bonus issue aims to make stocks cheaper for retail investors and so increase the liquidity. V-Mart Q4 FY25 Results The company posted a 17% year-on-year (YoY) growth in revenue from operations, reaching Rs 3,254 crore in FY25 compared to Rs 2,786 crore in FY24. EBITDA rose sharply by 77% to Rs 377 crore from Rs 213 crore in the previous year, showcasing improved operational efficiency. The company also turned profitable, reporting a net profit of Rs 46 crore in FY25 as against a loss of Rs 97 crore in FY24. For the fourth quarter, V-Mart recorded revenue of Rs 780 crore, up 17% YoY from Rs 669 crore in Q4 FY24. EBITDA for the quarter surged 70% to Rs 68 crore from Rs 40 crore, while net profit stood at Rs 19 crore, a notable recovery from a loss of Rs 39 crore in the same quarter last year. The Company remains focused on its store expansion plan, opening 13 new stores and closing 4 stores during the quarter. For the full year FY25, it added 62 new stores and closed 9.
India Gazette
26-05-2025
- Business
- India Gazette
Union Minister Piyush Goyal meets Paytm founder, discuss making India digital payments powerhouse
New Delhi [India] , May 26 (ANI): In a significant step toward strengthening India's position in the global digital economy, Union Minister of Commerce & Industry Piyush Goyal, met with Paytm Founder and CEO Vijay Shekhar Sharma to discuss the future of fintech, digital payments, and inclusive e-commerce in India. During the discussion, Minister Goyal highlighted the government's vision of making India a global fintech and digital payments powerhouse. The conversation focused on the potential to export India-made payment systems to the world -- a domain where Paytm has been a pioneering force with innovations like mobile payments, QR based payments, Soundbox, card machines and UPI-based services. The two also discussed the inclusive potential of the Open Network for Digital Commerce (ONDC). With a strong emphasis on empowering neighbourhood Kirana stores and small business owners, the meeting explored how platforms like Paytm can help onboard these merchants into the formal digital ecosystem -- improving access, transparency, and economic opportunity. Following the meeting, Paytm posted, 'Thank you Hon'ble Minister @PiyushGoyal for the insightful discussion. We are committed to building for India and taking innovations from India to the world.' According to a company release, as one of India's leading mobile payments and financial services platforms, Paytm continues to drive technology-led growth with an unwavering focus on empowering small merchants, expanding UPI innovation, and contributing to India's digital economy goals. Paytm is the only payments platform that innovates user-centric products from downloading UPI statements in pdf and excel to hide or unhide payments and check bank account balance on the Paytm app, the release further states. This meeting reaffirms the collaborative effort between the private sector and the government in building a future-ready, globally relevant fintech ecosystem -- made in India, for the world. (ANI)
The Hindu
09-05-2025
- Entertainment
- The Hindu
Out of tune: Hindustani great Gangubai Hangal's childhood home in Dharwad in a state of neglect
There is a famous saying in Kannada that if you throw a stone, it will land on the house of either an artist or a scholar in Dharwad, a town in north Karnataka known for its rich cultural and literary heritage. Among several places of cultural importance, Dharwad has the house of legendary vocalist and doyenne of Hindustani classical music Gangubai Hangal, which is located at Shukravarada Pete in the city. Although Gangubai moved to Hubballi at the age of around 14 to pursue Hindustani classical music from her Guru Sawai Gandharva of the famous Kirana gharana tradition at Kundagol, she had her childhood memories attached to the Dharwad house. Music lovers and her family members, therefore, were keen on converting the house into a museum to reflect her musical journey. It was to serve as a cultural platform for the future generations too. The house was bought by the district administration to restore it as a heritage building. After the restoration, it was inaugurated by the then Chief Minister B.S. Yediyurappa along with eminent personalities in the presence of 96-year-old Gangubai Hangal in 2008. After her death in 2009, the house was maintained for a couple of years, but later it fell into disuse and neglect. The departments started blaming each other, but is now in a dilapidated condition. Despite assurances of restoration, nothing has ben done to fulfil the dreams of the music fraternity. The house which was a symbol of past glory, now stands as an example of sheer official apathy.
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Business Standard
05-05-2025
- Business
- Business Standard
V-Mart shares fall 9% after Q4 results, bonus shares news; check details
V-Mart share price: V-Mart Retail shares plunged 9.4 per cent on the BSE on Monday, May 5, 2025 SI Reporter New Delhi V-Mart Retail share price today V-Mart Retail shares plunged 9.4 per cent on the BSE on Monday, May 5, 2025, after the announcement of the company's March 2025 quarter results. The stock hit an intraday low of ₹3,054.25 per share. At 1:50 PM, V-Mart shares were trading 7 per cent lower at ₹3,132.10 per share as against a 0.4 per cent rise in the benchmark BSE Sensex index. Around 5,510 shares have changed hands on the V-Mart Retail counter, so far, on the BSE as compared to a two-week average of 2,097 shares. Why are V-Mart Retail shares falling today? The decline in V-Mart shares came after investors booked profit in the stock after the Q4FY25 result announcement. In the March 2025 quarter (Q4FY25), V-Mart Retail reported a revenue growth of 17 per cent year-on-year (Y-o-Y), including LimeRoad's commission income, at ₹780 crore. Of this, revenue growth from V-Mart (offline) was 19 per cent Y-o-Y at ₹655.6 crore, and Unlimited was 11 per cent Y-o-Y at ₹116.4 crore. LimeRoad's commission income, however, dropped 35 per cent Y-o-Y to ₹10.5 crore. V-Mart offline sales contributed 84 per cent of the total revenue, Unlimited contributed 15 per cent, and LimeRoad 1 per cent. The company also turned profitable in the quarter with a net profit of ₹18.5 crore as against a net loss of ₹38.9 crore in the year-ago period. The company managed to reduce LimeRoad net loss by 44 per cent Y-o-Y. On the margin front, V-Mart's gross margins expanded 140 basis points Y-o-Y to 33.1 per cent in Q4FY25, while Ebitda margin improved 270bp Y-o-Y to 8.7 per cent. Consolidated Same Store Volume Growth (SSVG), meanwhile, rose to 8 per cent from 5 per cent Y-o-Y. V-Mart Retail opened 13 new stores and closed 4 stores during the quarter. For the full year FY25, it added 62 new stores and closed 9. V-Mart bonus shares news The Board of Directors on V-Mart Retail has approved the issue of 3 fully paid bonus equity shares for every 1 fully paid equity share of face value ₹10. The record date for determining the eligibility of shareholders for the bonus issue will be announced separately, subject to the shareholders' approval. About V-Mart V-Mart Retail is an omni retail store chain, offering fashion apparel, footwear, home furnishings, general merchandise, and Kirana. Focused on Tier-II and Ill cities, V-Mart is present pan-India with an average store size of 8,000 sq. ft.
