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Buy V - Mart Retail Ltd For Target : Rs.2,600 - Motilal Oswal Financial Services Revenue up 16% YoY (in line); LFL growth remains flat YoY * Consolidated revenue at INR6.8b was up ~16% on a YoY basis (in line), mainly driven by footprint addition. * The quarter included revenue from Limeroad to the tune of ~INR170m (up 44% QoQ), which was integrated from Nov’22. Adjusted for this, revenue for VMart (including Unlimited stores) was up ~13% on a YoY basis with revenue/sqft of INR1761/sqft (quarterly). This is 2% higher YoY, but yet below pre-covid levels. * C...
Buy V - Mart Retail Ltd For Target : Rs.2,600 - Motilal Oswal Financial Services
Buy V - Mart Retail Ltd For Target : Rs.2,600 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services
5/07/2023 12:58:29 PM
Buy V - Mart Retail Ltd For Target : Rs.3,950 - Motilal Oswal Financial Services Sign of improved performance; Rural pain still persist * VMART delivered a healthy 2QFY23 performance, despite a weak market environment. Improved revenue productivity and margin drove revenue/ PAT growth of 50%/2.6x YoY (27% revenue growth excluding Unlimited), backed by higher prices and tailwinds from the growth in South India. * The pain in rural India, coupled with a slow onset of the winter season and abrupt rainfall (which resulted in a crop damage), will persist over the next fe...
Buy V - Mart Retail Ltd For Target : Rs.3,950 - Motilal Oswal Financial Services
Buy V - Mart Retail Ltd For Target : Rs.3,950 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
14/12/2022 12:23:40 PM
V-Mart Retail edges higher on acquiring A.M. Marketplaces` LimeRoad business V-Mart Retail is currently trading at Rs. 2833.45, up by 6.30 points or 0.22% from its previous closing of Rs. 2827.15 on the BSE. The scrip opened at Rs. 2846.10 and has touched a high and low of Rs. 2881.50 and Rs. 2827.20 respectively. So far 790 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 4488.00 on 11-Nov-2021 and a 52 week low of Rs. 2406.00 on 27-Jun-2022. Last one week high and low of the scrip stoo...
V-Mart Retail edges higher on acquiring A.M. Marketplaces` LimeRoad business
V-Mart Retail edges higher on acquiring A.M. Marketplaces` LimeRoad business
Source: Accord Fintech
11/11/2022 4:20:34 PM
Buy V - Mart Retail Ltd For Target : Rs 4,082 - Centrum Broking Ltd Cementing its footing to attract digital first millennials Vimart agreed to acquire the business of ‘Limeroad’ for a consideration of Rs670mn on a slump sales basis paying for its exiting liabilities. This acquisition would cement its footing to attract digital first millennial customers as ‘Limeroad’ already holds 17mn loyal customer base. Further ViMart plans to invest ~Rs800mn (~20% of its EBITDA) over next 2years to scale?up cu...
Buy V - Mart Retail Ltd For Target : Rs 4,082 - Centrum Broking Ltd
Buy V - Mart Retail Ltd For Target : Rs 4,082 - Centrum Broking Ltd
Source: Centrum Broking Ltd
27/10/2022 12:49:04 PM
Buy V-Mart Retail Ltd For Target Rs. 4,210 - Motilal Oswal VMart acquires Limeroad.com; enters online marketplace space * Vmart announced acquisition of Limeroad.com, a vertical online market place catering to the fashion segment, for INR670m (1x P/Sales on FY22). * Limeroad.com will operate as an independent entity under the V-Mart label and its CEO Suchi Mukherjee (founder) will continue her role with Ankush Mehra (co-founder), who would continue as COO. * V-mart has INR1.6b cash, and therefore, it should be funded internally. * At its ...
Buy V-Mart Retail Ltd For Target Rs. 4,210 - Motilal Oswal
Buy V-Mart Retail Ltd For Target Rs. 4,210 - Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
20/10/2022 10:55:13 AM
Buy V-Mart Retail Ltd For Target Rs. 4,210 - Motilal Oswal Financial Services VMART acquires Limeroad.com; enters the online marketplace Deal contours??????? * VMART acquired Limeroad (a value fashion online marketplace player) for INR311m (0.45x P/Sales on FY22). The deal will help VMART strengthen its online presence in Tier 2/3 markets. VMART will fund the acquisition through internal accruals as it has a cash balance of INR1.6b. Limeroad, a value player in the online space * Incorporated in 2012, Limeroad has been offering fresh unbranded fashion produc...
Buy V-Mart Retail Ltd For Target Rs. 4,210 - Motilal Oswal Financial Services
Buy V-Mart Retail Ltd For Target Rs. 4,210 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
18/10/2022 10:49:00 AM
Buy V-Mart Retail Ltd For Target Rs. 3,880 - Motilal Oswal Financial Services Unlimited Deal: Impetus to expansion in new regions VMART announced the acquisition of Arvind Fashions’ Value Retail format ‘Unlimited * The deal will give VMART a strong headway in Southern and Western Indian, where it has no presence yet. * At the acquisition cost of INR1.5b (or INR1,923/sq ft including capex and inventory cost), VMART would have found it difficult to set up the same organically. * This could potentially add about 9% incremental equity value, i.e. IN...
Buy V-Mart Retail Ltd For Target Rs. 3,880 - Motilal Oswal Financial Services
Buy V-Mart Retail Ltd For Target Rs. 3,880 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
20/09/2022 4:08:05 PM
V-Mart Retail surges as Amansa Holdings buys 2.88 lakh equity shares V-Mart Retail is currently trading at Rs. 2982.00, up by 50.00 points or 1.71% from its previous closing of Rs. 2932.00 on the BSE. The scrip opened at Rs. 2960.00 and has touched a high and low of Rs. 3000.05 and Rs. 2932.55 respectively. So far 2089 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 4620.00 on 19-Oct-2021 and a 52 week low of Rs. 2406.00 on 27-Jun-2022. Last one week high and low of the scrip st...
V-Mart Retail surges as Amansa Holdings buys 2.88 lakh equity shares
V-Mart Retail surges as Amansa Holdings buys 2.88 lakh equity shares
Source: Accord Fintech
20/09/2022 12:40:56 PM
Buy V-Mart Retail Ltd For Target Rs.4,082 -Centrum Broking Ltd Good performance, revival in Bharat markets key   V Mart’s Q1FY23 performance was ahead of our estimates. Revenue grew 231.4%, while  EBITDA/PAT at Rs887mn/Rs205mn was better against loss last year. The Unlimited stores  (77) contributed 20% to revenues at Rs1.17bn. Management alluded,&n...
Buy V-Mart Retail Ltd For Target Rs.4,082 -Centrum Broking Ltd
Buy V-Mart Retail Ltd For Target Rs.4,082 -Centrum Broking Ltd
Source: Centrum Broking Ltd
19/08/2022 12:32:40 PM
Buy V-Mart Retail Ltd For Target Rs. 3,651 - Yes Securities Ltd Recovery impacted by rural/semiurban slowdown and price hikes taken during Q1; upgrade to BUY due to inexpensive valuation Our view V-Mart delivered a 20% SSSG decline in Q1 (vs preCOVID levels) partially impacted by weakness in rural demand in a seasonally weak quarter and excessive price hikes taken. Company passing on full RM inflation through ~20% price hike which protected margins, but footfall and conversions impacted adversely. Unlimited benefitted from better urban sentiment due...
Buy V-Mart Retail Ltd For Target Rs. 3,651 - Yes Securities Ltd
Buy V-Mart Retail Ltd For Target Rs. 3,651 - Yes Securities Ltd
Source: Yes Securities Ltd
10/08/2022 11:54:06 AM
Add V-Mart Retail Ltd For Target Rs.3,651 - Yes Securities Recovery continues to be impacted by rural/semi‐urban slowdown and Unlimited consolidation; maintain ADD Our view V‐Mart delivered a 3% SSSG decline in Q4 (vs pre‐COVID levels) partially impacted by Omicron wave disruptions and weakness in rural demand in a seasonally weak quarter. Company passing on full RM inflation through ~17% price hike which protected margins and positive EBITDA at Unlimited during Q4 were key positives. Unlimited benefitted from better urban sentiment due to its ...
Add V-Mart Retail Ltd For Target Rs.3,651 - Yes Securities
Add V-Mart Retail Ltd For Target Rs.3,651 - Yes Securities
Source: Yes Securities Ltd
27/05/2022 11:27:08 AM
Update on V-Mart Retail Ltd by Motilal Oswal EBITDA up 50% YoY led by margin improvement and cost control * Revenues from newly acquired Unlimited stores contributed 16% of revenue i.e. ~INR734m. Revenue for VMart stores (excl Unlimted) stood at INR3.85b up 10% YoY. Adjusting for the new area addition of 12% over 4QFY21, SSSG is estimated to be flattish for VMart stores (excl Unlimited). * Compared to 4QFY20, revenue is up 16% for Vmart stores (excl Unlimited). Considering ~15% impact in 4QFY20, revenue in 4QFY22 is flat v/s norma...
Update on V-Mart Retail Ltd by Motilal Oswal
Update on V-Mart Retail Ltd by Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
26/05/2022 12:20:53 PM
V-Mart Retail jumps on opening two new retail stores V-Mart Retail is currently trading at Rs. 3824.55, up by 198.80 points or 5.48% from its previous closing of Rs. 3625.75 on the BSE. The scrip opened at Rs. 3664.20 and has touched a high and low of Rs. 3862.45 and Rs. 3586.55 respectively. So far 328 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 4620.00 on 19-Oct-2021 and a 52 week low of Rs. 2495.80 on 22-Apr-2021. Last one week high and low of the scrip st...
V-Mart Retail jumps on opening two new retail stores
V-Mart Retail jumps on opening two new retail stores
Source: Accord Fintech
14/03/2022 3:18:49 PM
Add V-Mart Retail Ltd For Target Rs.3,912 - Yes Securities Rural slowdown delayed recovery while inflation and higher cost of retailing at Unlimited impacted margins; maintain ADD Our view V‐Mart’s 9% SSSG decline in Q3 looks underwhelming in a seasonally strong quarter given the impact of slowdown in its key smaller towns/rural markets and competition from large organized retailers. Unlimited benefitted from better urban sentiment due to its larger presence in Tier‐1, 2 markets which led to better than expected throughput. Liquidation of...
Add V-Mart Retail Ltd For Target Rs.3,912 - Yes Securities
Add V-Mart Retail Ltd For Target Rs.3,912 - Yes Securities
Source: Yes Securities Ltd
5/03/2022 10:12:49 AM
Buy V-Mart Retail Ltd For Target Rs.4,450 - Motilal Oswal VMart channel check: “Unlimited” opportunities ahead After acquiring 74 stores of “Unlimited” from Arvind Fashion, VMart aims to achieve profitability by: a) improving store productivity, b) optimizing cost and c) shutting loss making stores. The company is targeting to achieve an EBITDA margin of 5-6%/7-8% in the near term/long term, respectively. In that context, we visited a few ‘Unlimited’ Stores in Hyderabad along with some peer sets to get a perspe...
Buy V-Mart Retail Ltd For Target Rs.4,450 - Motilal Oswal
Buy V-Mart Retail Ltd For Target Rs.4,450 - Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
25/02/2022 10:20:45 AM
Buy V-Mart Retail Ltd For Target Rs.4,516 - Yes Securities Styling middle class India with solid execution * V-Mart Retail currently operates 376 value fashion stores including Unlimited’s 74 stores acquired in July 2021 covering 3.2mn sqft retail areamainly in Tier 2,3 markets. With Unlimited’s acquisition, V-Mart forayed into South India and is now looking to replicate its best in class value retailing model. * VMART has always been ahead of the curve in capability-building across functions which the promoter feels is crucial to s...
Buy V-Mart Retail Ltd For Target Rs.4,516 - Yes Securities
Buy V-Mart Retail Ltd For Target Rs.4,516 - Yes Securities
Source: Yes Securities Ltd
10/01/2022 10:15:24 AM
V-Mart Retail gains on opening new store in Uttar Pradesh V-Mart Retail is currently trading at Rs. 3723.55, up by 13.10 points or 0.35% from its previous closing of Rs. 3710.45 on the BSE. The scrip opened at Rs. 3717.50 and has touched a high and low of Rs. 3730.80 and Rs. 3698.25 respectively. So far 235 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 4620.00 on 19-Oct-2021 and a 52 week low of Rs. 2322.80 on 13-Jan-2021. Last one week high and low of the scrip sto...
V-Mart Retail gains on opening new store in Uttar Pradesh
V-Mart Retail gains on opening new store in Uttar Pradesh
Source: Accord Fintech
4/01/2022 12:49:49 PM
Buy V-Mart Retail Ltd For Target Rs.4,900 - Motilal Oswal Growth momentum returns; turnaround of Unlimited remains key * VMART saw a resurgence in growth, with 12 store additions and 93% YoY jump in revenue, 8% above pre-COVID levels (2QFY20). Excluding onemonth revenue from the recently acquired ‘Unlimited’ stores, it reached pre-COVID levels. LTL stood at 90%. It reported an operating (pre Ind AS 116)/net loss of INR57m/INR141m. * Recent acquisition of the Unlimited Value Retail chain and aggressive store additions in its core ma...
Buy V-Mart Retail Ltd For Target Rs.4,900 - Motilal Oswal
Buy V-Mart Retail Ltd For Target Rs.4,900 - Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
1/01/2022 10:26:42 AM
Buy V-Mart Retail Ltd For Target Rs.5120 - ICICI Direct Healthy revenue recovery at 100% pre-Covid levels About the stock: V-Mart, having over the years built its fortress in non-tier I cities, is well poised to capture market share in the growing ~| 2.5 trillion value fashion industry. The company enjoys strong moats that would provide an edge over increasing competition in tier III-IV regions. * V-Mart follows a cluster based approach of adding stores within a radius of 50-100 km. This gives it better economies of scales, supply chain effi...
Buy V-Mart Retail Ltd For Target Rs.5120 - ICICI Direct
Buy V-Mart Retail Ltd For Target Rs.5120 - ICICI Direct
Source: ICICI Direct
9/12/2021 9:55:03 AM
Add V‐Mart Retail Ltd For Target Rs.4,516 - Yes Securities Strong recovery and solid start to festive season, but valuations out of comfort zone; ADD on dips Our view V‐Mart’s 85% SSSG recovery during quarter which is seasonally weak is one of the best among peers in fashion retail. Recovery in footfalls with higher conversion rates, improving margins with tight control on cost of retailing are other key positives. We believe Q3FY22 will clock positive SSSG given festive season is already witnessing flattish SSSGs with pre‐winter sales re...
Add V‐Mart Retail Ltd For Target Rs.4,516 - Yes Securities
Add V‐Mart Retail Ltd For Target Rs.4,516 - Yes Securities
Source: Yes Securities Ltd
11/11/2021 11:57:33 AM
Buy V-Mart Retail India Ltd For Target Rs.4100 - ICICI Direct Healthy liquidity to support growth aspirations… About the stock: V-Mart, having over the years built its fortress in non-tier I cities, is well poised to capture market share in the growing ~| 2.5 trillion value fashion industry. The company enjoys strong moats that would provide an edge over increasing competition in tier III-IV regions. * V-Mart follows a cluster based approach of adding stores within a radius of 50-100 km. This gives it better economies of scales, supply chai...
Buy V-Mart Retail India Ltd For Target Rs.4100 - ICICI Direct
Buy V-Mart Retail India Ltd For Target Rs.4100 - ICICI Direct
Source: ICICI Direct
6/10/2021 11:07:47 AM
Buy V-Mart Retail Ltd : Recovery in sight; poised for steady growth - Motilal Oswal Buy V-Mart Retail Ltd For Target Rs.3,920 Recovery in sight; poised for steady growth * V-Mart Retail (VMART)’s revenue was up 2.3x YoY, 61% below pre-COVID levels (1QFY20). This is closer to other retailers’ performances, as the second COVID wave has seen lower impact. EBITDA loss at INR20m recovered 67% YoY (6% miss). * Given the expectation of swift recovery from the second COVID wave lockdowns by 3QFY22, we raise our FY23E revenue/EBITDA estimates by 7%, factoring in ...
Buy V-Mart Retail Ltd : Recovery in sight; poised for steady growth - Motilal Oswal
Buy V-Mart Retail Ltd : Recovery in sight; poised for steady growth - Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
28/09/2021 9:32:59 AM
Buy V-MART Ltd For Target Rs.3,880 - Motilal Oswal Unlimited Deal: Impetus to expansion in new regions VMART announced the acquisition of Arvind Fashions’ Value Retail format ‘Unlimited’. * The deal will give VMART a strong headway in Southern and Western Indian, where it has no presence yet. * At the acquisition cost of INR1.5b (or INR1,923/sq ft including capex and inventory cost), VMART would have found it difficult to set up the same organically. * This could potentially add about 9% incremental equity value,...
Buy V-MART Ltd For Target Rs.3,880 - Motilal Oswal
Buy V-MART Ltd For Target Rs.3,880 - Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
24/08/2021 11:05:45 AM
Buy V-Mart Ltd For Target Rs. 4100 - ICICI Direct ‘Unlimited’ to provide expansion into South India… About the stock: V-Mart, having over the years built its fortress in non-tier I cities, is well poised to capture market share in the growing ~| 2.5 trillion value fashion industry. The company enjoys strong moats that would provide an edge over increasing competition in tier III-IV regions. * V-Mart follows a cluster based approach of adding stores within a radius of 50-100 km. This gives it better economies of sc...
Buy V-Mart Ltd For Target Rs. 4100 - ICICI Direct
Buy V-Mart Ltd For Target Rs. 4100 - ICICI Direct
Source: ICICI Direct
12/08/2021 11:41:24 AM
Buy V‐Mart Retail Ltd For Target Rs.3,979 - Yes Securities Signs of normalization visible with recovery pivoted on upcoming festive season; maintain BUY * Result summary – Revenue growth of 127.3% yoy but still lower 60% vs 1QFY20, gross margin expansion of 20bps to 31%, EBITDA margin loss reduced to 1.1% vs 7.5% yoy due to operating leverage. Employee costs were higher than our expectations (Rs20mn additional ESOP costs) while other expenses were stable. * Key metrics  ‐  Footfalls up 107%, conversion rate up from 68.2% to 70.7...
Buy V‐Mart Retail Ltd For Target Rs.3,979 - Yes Securities
Buy V‐Mart Retail Ltd For Target Rs.3,979 - Yes Securities
Source: Yes Securities Ltd
12/08/2021 11:14:15 AM
Buy V-Mart Ltd For Target Rs.3500 - ICICI Direct Resilient performance amid challenging scenario… V-Mart witnessed a gradual recovery with revenue growth of 6% YoY to | 352 crore in Q4FY21. On a normalised base, recovery rate was at ~88% of pre-Covid levels. Lower footfalls (down 12% YoY), were offset by better conversion ratio (61.1% vs. 55% in Q4FY20) and higher transaction size (| 851 vs. | 790 in Q4FY20). The company had replenished its inventory during the quarter with new summer season wherein full priced sales resulted in g...
Buy V-Mart Ltd For Target Rs.3500 - ICICI Direct
Buy V-Mart Ltd For Target Rs.3500 - ICICI Direct
Source: ICICI Direct
26/06/2021 11:01:54 AM
Buy V-Mart Retail Ltd For Target Rs.3,500 - Motilal Oswal Visible green shoots before 2nd COVID wave; expect swift recovery * V-Mart Retail (VMART)’s revenue was up 6% YoY (8% beat), driven by pentup demand for shopping. The EBITDA beat was much stronger (99% beat), led by improving gross margins and cost measures. * We revise down our FY22 revenue/EBITDA estimates by 31%/33% due to the impact of the second wave, but maintain FY23 revenue/EBITDA estimates given the expectation of swift recovery. The company’s strong cost leadership...
Buy V-Mart Retail Ltd For Target Rs.3,500 - Motilal Oswal
Buy V-Mart Retail Ltd For Target Rs.3,500 - Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
24/06/2021 11:16:03 AM
Add V‐Mart Retail Ltd For Target Rs.3,000 - Yes Securities Navigating turbulent times; downgrade to ADD * Result summary – In‐line performance with 6% yoy revenue growth, gross margin expansion of 130bps and EBITDA margin expansion of 110bps to 9.5% and lower yoy net loss of Rs 15mn. * Key metrics  ‐  Footfalls down 11%, conversion rate up from 55% to 61.1%, transaction size up 7.7% yoy, Apparel ASP down 8.4% to Rs 327, shrinkage down by 30bps to 1.3%. * Store addition  ‐ Net addition of 5 stores in 4Q taking total ...
Add V‐Mart Retail Ltd For Target Rs.3,000 - Yes Securities
Add V‐Mart Retail Ltd For Target Rs.3,000 - Yes Securities
Source: Yes Securities Ltd
1/06/2021 10:20:59 AM
Buy V-Mart Retail Ltd For Targe Rs.3,500 - ICICI Direct Well poised to capture value fashion opportunity… V-Mart, having over the years built its fortress in non-tier I cities, is well poised to capture market share in the growing ~| 2.5 trillion value fashion industry. The company enjoys strong moats that would provide an edge over increasing competition in tier III-IV regions. We like V-Mart owing to its a) immaculate record of high revenue growth trajectory (revenue CAGR: 23% in FY13-20), b) higher cash conversion model (CFO/EBITDA: ...
Buy V-Mart Retail Ltd For Targe Rs.3,500 - ICICI Direct
Buy V-Mart Retail Ltd For Targe Rs.3,500 - ICICI Direct
Source: ICICI Direct
1/04/2021 11:17:26 AM
V-Mart Retail Ltd : Strong balance sheet to drive share gains; valuations rich but still a good 2‐3 year buy - Yes Securities Buy V-Mart Retail Ltd For Target Rs.3,089 Strong balance sheet to drive share gains; valuations rich but still a good 2‐3 year buy We conducted a round of channel checks on V‐Mart Retail and other peers. The feedback is encouraging on the back of several initiatives taken by the management to drive recovery in footfalls. While the recovery is shaping up well so far and should help the company get back to positive trajectory in 4Q with footfalls recovering above 80% for 4Q and above 90% ...
V-Mart Retail Ltd : Strong balance sheet to drive share gains; valuations rich but still a good 2‐3 year buy - Yes Securities
V-Mart Retail Ltd : Strong balance sheet to drive share gains; valuations rich but still a good 2‐3 year buy - Yes Securities
Source: Yes Securities Ltd
26/03/2021 11:32:15 AM
Buy V-MART Ltd For Target Rs. 3,500 - Motilal Oswal In for the long haul * In the last one-year, the Apparel retail sector has been one of the worst hit and is still operating below pre-COVID levels, raising concerns of a permanent business impairment risk to retailers. Yet what we like about VMART is: * With a focus on smaller towns and largely on high streets, VMART has seen a better recovery than other Apparel retailers. Footfalls are expected to normalize in the coming 1-2 quarters. * Value retail has a long runway for growth, wit...
Buy V-MART Ltd For Target Rs. 3,500 - Motilal Oswal
Buy V-MART Ltd For Target Rs. 3,500 - Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
11/03/2021 10:17:35 AM
Add V-MART Retail Ltd For Target Rs.2,650 - HDFC Securities Continues to lead apparel universe in recovery V-MART recovered ~84% (LTL growth at 81%; HSIE: 80%) of base quarter sales (most within our apparel universe along with Trent). Recovery was led by strong festive and marriage season along with early winter sales. Better inventory relevance/control (translating into lower discounting) led to gross margin expansion. GM expanded 40bp to 36.7% (HSIE: 35%). EBITDAM expanded 131bp to 22.1% (the highest since FY14), led by strong cost control. ...
Add V-MART Retail Ltd For Target Rs.2,650 - HDFC Securities
Add V-MART Retail Ltd For Target Rs.2,650 - HDFC Securities
Source: HDFC Seurities Ltd
9/03/2021 12:00:28 PM
Add V-Mart Retail Ltd For Target Rs. 2,650 - HDFC Securities Continues to lead apparel universe in recovery V-MART recovered ~84% (LTL growth at 81%; HSIE: 80%) of base quarter sales (most within our apparel universe along with Trent). Recovery was led by strong festive and marriage season along with early winter sales. Better inventory relevance/control (translating into lower discounting) led to gross margin expansion. GM expanded 40bp to 36.7% (HSIE: 35%). EBITDAM expanded 131bp to 22.1% (the highest since FY14), led by strong cost control. Worki...
Add V-Mart Retail Ltd For Target Rs. 2,650 - HDFC Securities
Add V-Mart Retail Ltd For Target Rs. 2,650 - HDFC Securities
Source: HDFC Securities Ltd
24/02/2021 9:54:37 AM
Buy V-MART Retail Ltd For Target Rs.2,900 - ICICI Securities Better placed among peers Key takeaways from V-MART’s Q3FY21 earnings: 1) bundling of festive and early winter seasons restricted revenue decline to 16% YoY; management mentioned full recovery will take some time; 2) average basket size, apparel average selling price, and footfall conversion were higher by 9%, 2% and 7% YoY; 3) company added 10 stores (net) during the quarter taking the total store count to 274; maintained guidance of 20-25% p.a. area additions in coming years; 4) n...
Buy V-MART Retail Ltd For Target Rs.2,900 - ICICI Securities
Buy V-MART Retail Ltd For Target Rs.2,900 - ICICI Securities
Source: ICICI Securities Ltd
8/02/2021 11:21:34 AM
Buy V-Mart Retail Ltd For Target Rs. 2,870 - Motilal Oswal Steering ahead in a weak market * Weakness in revenue continued – down 16% YoY (6% below est) thus far – while EBITDA/PAT decline was cushioned (down 11%/18% YoY, ahead of est.) on the back of better GM and good cost management in a weak quarter. * Maintain EBITDA estimates for FY22E at 10% growth over FY20 on the back of a) -11% same-store sales growth (SSSG), b) 30% footprint adds over FY20–22E, and c) recovery in the EBITDA margin to FY20 levels. Maintain Buy. &n...
Buy V-Mart Retail Ltd For Target Rs. 2,870 - Motilal Oswal
Buy V-Mart Retail Ltd For Target Rs. 2,870 - Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
30/01/2021 11:41:47 AM
Buy V‐Mart Retail Ltd For Target Rs.2,400 - Yes Securities 3Q investor call takeaways Underlying demand still weak, good work on cash flows and margins; expect some correction post recent run‐up * Our view – After the recent run‐up, we believe some correction can be expected in the near term with underlying demand still exhibiting weakness, competition not reducing significantly and some pressure on margins expected with normalization of costs and yarn inflation. While the medium to long term outlook remains strong with V‐Mart expected t...
Buy V‐Mart Retail Ltd For Target Rs.2,400 - Yes Securities
Buy V‐Mart Retail Ltd For Target Rs.2,400 - Yes Securities
Source: Yes Securities Ltd
27/01/2021 11:28:28 AM