News

Buy Avenue Supermart Ltd For Target Rs.4,255 - JM Financial Institutional Securities Ltd DMart’s Jun-Q report was not too different from those seen in recent quarters. Growth in sales per-store, though a tad better vs the last few quarters, is still not good enough given the business’ true potential, in our view. Discretionary sales remained an issue and continued to impact both throughput (and, therefore, operating leverage) and also gross margin. Management commentaries, interestingly, point to a silver-lining in this regard. As per the company, “general merch...
Buy Avenue Supermart Ltd For Target Rs.4,255 - JM Financial Institutional Securities Ltd
Buy Avenue Supermart Ltd For Target Rs.4,255 - JM Financial Institutional Securities Ltd
Source: JM Financial Institutional Securities Ltd
17/07/2023 2:26:04 PM
Buy Avenue Supermart Ltd For Target Rs.4,420 - Motilal Oswal Financial Services Expect growth to bottom out * Avenue Supermarts (DMART)’s 1QFY24 revenue was up 18% YoY (4% rise in revenue/sqft) but GM contracted 120bp YoY due to weak discretionary demand, which resulted in 130bp contraction in EBITDAM. Subsequently, EBITDA/ PAT grew only 3% YoY each (a miss of 13%/12%) during the quarter. * However, the adverse impact from the larger-sized stores appears bottoming out with revenue/sqft and revenue/store rising 4% YoY and 5% YoY, respectively. Further, there i...
Buy Avenue Supermart Ltd For Target Rs.4,420 - Motilal Oswal Financial Services
Buy Avenue Supermart Ltd For Target Rs.4,420 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
17/07/2023 12:30:38 PM
Hold Avenue Supermart Ltd For Target Rs.3,800 - ICICI Securities Ltd Avenue Supermarts’ (DMART) share price has been largely flat over last two years. We reckon there are some structural concerns: (1) revenue growth slowing to ~20% from 25-30% (pre-covid), (2) continued underperformance in revenue per sq. ft (9% below pre-covid) due to slower-than-expected recovery in (margin-accretive) general merchandise (GM) and apparel segment. We note over the last five years, (FY19-23) GM and apparel segment for DMart has underperformed its foods and non-foods segm...
Hold Avenue Supermart Ltd For Target Rs.3,800 - ICICI Securities Ltd
Hold Avenue Supermart Ltd For Target Rs.3,800 - ICICI Securities Ltd
Source: ICICI Securities Ltd
15/07/2023 2:47:06 PM
Avenue Supermarts gains on reporting 18% rise in standalone revenue in Q1FY24 Avenue Supermarts is currently trading at Rs. 3890.70, up by 25.35 points or 0.66% from its previous closing of Rs. 3865.35 on the BSE. The scrip opened at Rs. 3920.05 and has touched a high and low of Rs. 3935.00 and Rs. 3843.85 respectively. So far 4645 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 4606.00 on 02-Sep-2022 and a 52 week low of Rs. 3292.65 on 16-Mar-2023. Last one week high and low of the scri...
Avenue Supermarts gains on reporting 18% rise in standalone revenue in Q1FY24
Avenue Supermarts gains on reporting 18% rise in standalone revenue in Q1FY24
Source: Accord Fintech
4/07/2023 10:55:46 AM
Buy Avenue Supermart Ltd For Target Rs.4,200 - Motilal Oswal Revenue growth in line with improving productivity Revenue grew 18% YoY; revenue per store/sqft up 5%/3% YoY * Standalone revenue grew 18% YoY to INR118.8b (in line). This is largely contributed by 11% YoY growth in store additions with revenue per store up 5% QoQ sqft to INR1,424m (annualized), 11% above pre-covid levels. Revenue/sqft was up 3% YoY to INR34,388/sqft (5% below precovid levels of INR36k per sqft), seeing signs of bottoming (after being flattish in the last three quarters...
Buy Avenue Supermart Ltd For Target Rs.4,200 - Motilal Oswal
Buy Avenue Supermart Ltd For Target Rs.4,200 - Motilal Oswal
Source: Motilal Oswal Financial Services
4/07/2023 10:09:06 AM
Investment Idea - Buy Avenue Supermart Ltd For Target Rs.4,200 - Motilal Oswal Well placed for earnings revival DMART has grown its revenues and earnings at a robust CAGR of 23% and 24% over the last five years. After growing the topline at this scorching pace and achieving a turnover of INR 430b, it has just about scratched the surface in our view. We believe it has a long runway for growth as the modern retail space is still in its infancy in India. Weak SSSG has weighed on DMART’s stock price performance in the recent past. In this report, we highlight key c...
Investment Idea - Buy Avenue Supermart Ltd For Target Rs.4,200 - Motilal Oswal
Investment Idea - Buy Avenue Supermart Ltd For Target Rs.4,200 - Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
11/06/2023 12:07:38 PM
Buy Avenue Supermarts Ltd For Target Rs. 4255 - JM Financial Institutional Securities DMart’s per-store revenue growth trend has been less buoyant than desired in recent times and challenges around weaker footfalls, muted offtakes of higher-margin discretionary items still persist – the latter have been impacting not just throughput but also profitability. Headline numbers aside, we think the following are equally worth noting: 1) ‘Same-storesales’, viz. revenue from two years and older stores (c.72% of network) grew 11% during 2HFY23 which, in our view...
Buy Avenue Supermarts Ltd For Target Rs. 4255 - JM Financial Institutional Securities
Buy Avenue Supermarts Ltd For Target Rs. 4255 - JM Financial Institutional Securities
Source: JM Financial Institutional Securities
21/05/2023 11:48:13 AM
Neutral Avenue Supermarts Ltd For Target Rs. 3895 - Motilal Oswal Financial Services Ltd * Avenue Supermarts’ (DMART) consolidated PAT grew 8% YoY (25% miss), despite a 21% YoY increase in revenue, driven by the expansion in the company’s footprint. This was due to a.) weak demand in the margin accretive discretionary category, resulting in a 100bp drop in GM. Additionally, store productivity remained flat with no increase in revenue/sqft, likely due to larger store sizes. * Over the last three years, Dmart has been adding larger stores to their retail chain. With ...
Neutral Avenue Supermarts Ltd For Target Rs. 3895 - Motilal Oswal Financial Services Ltd
Neutral Avenue Supermarts Ltd For Target Rs. 3895 - Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
15/05/2023 11:37:18 AM
Neutral Avenue Supermarts Ltd For Target Rs.4,050 - Motilal Oswal Financial Services Soft earnings on weak discretionary demand * Avenue Supermarts (DMART) posted revenue/PAT growth of 25%/7% YoY (6%/18% miss) in 3QFY23, as weak discretionary demand pulled down SSSG. While higher size store too increased costs, employee/other expenses per sqft has seen visible cost savings, down -6%/-10% vs the pre-Covid level, translating into 5.7% PAT margin (closer to pre-Covid levels). * Lower footfall and weak demand in the discretionary non-FMCG segment, along with a 20% increase ...
Neutral Avenue Supermarts Ltd For Target Rs.4,050 - Motilal Oswal Financial Services
Neutral Avenue Supermarts Ltd For Target Rs.4,050 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
6/03/2023 11:46:48 AM
Hold Avenue Supermarts Ltd For Target Rs.4000 - ICICI Direct Delay in recovery of GM, apparel subdues margins… About the stock: Avenue Supermarts (ASL) operates supermarket chain under the ‘D-Mart’ brand with core focus on value retailing. D-Mart, through its proven business model, has been able to maintain consistent profitability and remains an exceptional performer in its peer group. * D-Mart has progressively enhanced its return ratios (RoIC: 20%+) despite being capital intensive (follows ownership model) * Robust store ...
Hold Avenue Supermarts Ltd For Target Rs.4000 - ICICI Direct
Hold Avenue Supermarts Ltd For Target Rs.4000 - ICICI Direct
Source: ICICI Direct Ltd
3/03/2023 12:56:24 PM
Hold Avenue Supermarts Ltd For Target Rs.3,900 - ICICI Securities Margin pressure continues; foray into pharmacy a positive surprise DMART’s 3Q revenue performance was decent driven by retail expansion and outperformance in Foods segment. However, underperformance in General Merchandise and Apparels & non-food segment contributed towards lower than expected operating profit (weak mix). Sales per sq. ft. continues to remain ~9% below pre-covid. However, we believe other than weak sales mix, large size stores also had an impact on lower sales per...
Hold Avenue Supermarts Ltd For Target Rs.3,900 - ICICI Securities
Hold Avenue Supermarts Ltd For Target Rs.3,900 - ICICI Securities
Source: ICICI Securities Ltd
16/01/2023 3:12:30 PM
Neutral Avenue Supermarts Ltd For Target Rs. 4,100 - Motilal Oswal Financial Services Pre-quarter update – 3QFY23 Revenue grows 25% YoY (6% below estimate), adds four stores Revenue/area increase 25%/23% YoY, respectively * DMART’s standalone revenue grew 25% YoY to INR113b, 6.2% below our estimate. This was largely due to the area addition of 23% YoY where the blended revenue per sqft (annualized) declined 2% YoY to INR36,100, led by increase in average store size. As per our calculation, the LTL growth in 3QFY23 should be in mid-single digit. The managem...
Neutral Avenue Supermarts Ltd For Target Rs. 4,100 - Motilal Oswal Financial Services
Neutral Avenue Supermarts Ltd For Target Rs. 4,100 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services
4/01/2023 2:21:18 PM
Buy Avenue Supermarts Ltd For Target Rs. 4,535 - JM Financial Institutional Securities The stock could take a breather on the back of the Sep-Q report that was relatively lacklustre. Normalised growth in sales per-store (3-year CAGR) improved a tad to 3% vs 2% seen in recent few quarters. As per management, the number of new stores added (new stores have much lower sales vs older ones) and profile of the cities for newly-opened stores could be a few reasons why blended average isn’t as strong as what one used to see during earlier periods. Also, the profitability profile ...
Buy Avenue Supermarts Ltd For Target Rs. 4,535 - JM Financial Institutional Securities
Buy Avenue Supermarts Ltd For Target Rs. 4,535 - JM Financial Institutional Securities
Source: JM Financial Institutional Securities Ltd
19/10/2022 9:46:48 AM
Buy Avenue Supermarts Ltd For Target Rs. 4429- Centrum Broking Healthy growth momentum continues DMART reported standalone sales growth of 36% YoY. Gross/EBITDA margin stood at 14.5/8.6% (+20/-20bps YoY). DMART’s primary segment Foods and non-FMCG continued its strong momentum in 2QFY23. Standalone EBITDA/PBT/PAT grew by 33.5/32/63% respectively. DMART’s 3-yr CAGR (2QFY20-2QFY23) sales/EBITDA/PAT stood at 20/20/30%. We maintain our FY23/24 estimates and roll forward our estimates to FY25. We upgrade from ADD to BUY rating valuing the stock...
Buy Avenue Supermarts Ltd For Target Rs. 4429- Centrum Broking
Buy Avenue Supermarts Ltd For Target Rs. 4429- Centrum Broking
Source: Centrum Broking Ltd
18/10/2022 12:42:22 PM
Buy Avenue Supermarts Ltd For Target Rs. 4900 - ICICI Direct RoIC improvement hangs on recovery of GM & apparel About the stock: Avenue Supermarts (ASL) operates supermarket chain under ‘DMart’ brand with a core focus on value retailing. D-Mart, through its proven business model, has been able to maintain consistent profitability and remains an exceptional performer in its peer group. * D-Mart has progressively enhanced its return ratios (RoIC: 20%+) despite being capital intensive (follows ownership model) * Robust store opera...
Buy Avenue Supermarts Ltd For Target Rs. 4900 - ICICI Direct
Buy Avenue Supermarts Ltd For Target Rs. 4900 - ICICI Direct
Source: ICICI Direct Ltd
17/10/2022 2:33:57 PM
Neutral Avenue Supermarts Ltd For Target Rs. 4,100 - Motilal Oswal Financial Services Store additions healthy but demand environment subdued * Avenue Supermarts (DMART) posted an EBITDA/Adj. PAT growth of 33%/ 30% YoY (11%/14% miss), respectively, in 2QFY23. Revenue per store was up 9% YoY/10% v/s pre-Covid, but revenue/sqft was still 10% below preCovid level of 2QFY20 due to higher store size and inflationary pressure seen in non-food category. However, store additions remained strong and DMART added eight stores during the quarter. * Lower footfalls, weak demand in the...
Neutral Avenue Supermarts Ltd For Target Rs. 4,100 - Motilal Oswal Financial Services
Neutral Avenue Supermarts Ltd For Target Rs. 4,100 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
17/10/2022 9:45:11 AM
Avenue Supermarts surges on reporting 36% rise in standalone revenue in Q2 Avenue Supermarts is currently trading at Rs. 4498.00, up by 72.35 points or 1.63% from its previous closing of Rs. 4425.65 on the BSE. The scrip opened at Rs. 4601.90 and has touched a high and low of Rs. 4601.90 and Rs. 4481.00 respectively. So far 20667 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 5899.90 on 18-Oct-2021 and a 52 week low of Rs. 3185.10 on 16-May-2022. Last one week high and low of the scr...
Avenue Supermarts surges on reporting 36% rise in standalone revenue in Q2
Avenue Supermarts surges on reporting 36% rise in standalone revenue in Q2
Source: IANS
4/10/2022 11:42:56 AM
Neutral Avenue Supermarts Ltd For Target Rs. 4,100 - Motilal Oswal Financial Services D-Mart 2QFY23 pre-quarter update Revenue growth remains weak (10% lower on a LTL basis), adds eight stores in 2QFY23 (in line) Revenue grew 36% YoY * Standalone revenue grew 36% YoY to INR103.8b, 6.4% below our estimate. While overall revenue growth remained strong, calculated LTL growth in 2QFY23 was 2% YoY when adjusted for footprint addition. As compared to pre-COVID levels of 2QFY20, this was lower by 10% (the company doesn’t provide quarterly SSSG). * Same store sales c...
Neutral Avenue Supermarts Ltd For Target Rs. 4,100 - Motilal Oswal Financial Services
Neutral Avenue Supermarts Ltd For Target Rs. 4,100 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
4/10/2022 11:21:54 AM
Neutral Avenue Supermarts Ltd For Target Rs. 3,740 - Motilal Oswal Financial Services To focus on growth, expand the e-commerce business DMART hosted an analyst meet to discussing the ongoing market conditions, its new larger store strategy, remodeling of ecommerce business and the growth outlook Is the sluggish recovery or higher store sizes hurting sales productivity and gross margin? Revenue/sq. ft. has been sluggish (-8% CAGR) over the last three years. The management sees little cause for concern as the Mass Discretionary segment (27% of revenue) is yet to fully ...
Neutral Avenue Supermarts Ltd For Target Rs. 3,740 - Motilal Oswal Financial Services
Neutral Avenue Supermarts Ltd For Target Rs. 3,740 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
14/09/2022 2:58:16 PM
Neutral Avenue Supermarts Ltd For Target Rs.4,237 - Motilal Oswal Financial Services To focus on growth, expand the e-commerce business DMART hosted an analyst meet to discussing the ongoing market conditions, its new larger store strategy, remodeling of ecommerce business and the growth outlook Is the sluggish recovery or higher store sizes hurting sales productivity and gross margin? Revenue/sq. ft. has been sluggish (-8% CAGR) over the last three years. The management sees little cause for concern as the Mass Discretionary segment (27% of revenue) is yet to fully ...
Neutral Avenue Supermarts Ltd For Target Rs.4,237 - Motilal Oswal Financial Services
Neutral Avenue Supermarts Ltd For Target Rs.4,237 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services
5/08/2022 3:02:22 PM
Buy Avenue Supermarts Ltd For Target Rs.4700 - ICICI Direct Positive surprise on margins enhances performance… About the stock: Avenue Supermarts (ASL) operates supermarket chain under ‘DMart’ brand with core focus on value retailing. D-Mart, through its proven business model, has been able to maintain consistent profitability and remains an exceptional performer in its peer group. * D-Mart has progressively improved its return ratios (RoIC: 20%+) despite being capital intensive (follows ownership model) * Robust ...
Buy Avenue Supermarts Ltd For Target Rs.4700 - ICICI Direct
Buy Avenue Supermarts Ltd For Target Rs.4700 - ICICI Direct
Source: ICICI Direct
15/07/2022 2:39:04 PM
Add Avenue Supermarts Ltd For Target Rs.4,200 - ICICI Securities Benefit of recent expansion yet to fully kick in DMart’s 1Q revenue performance was decent with ramp up of new stores. However, it was slightly underwhelming as sales per sq. ft. was still below pre-covid levels despite near-normal operating conditions plus significant commodity inflation (traders/retailers are "assumed" to be beneficiaries). Gross margin print of 15.8% was slightly below pre-covid levels – weak recovery in fashion and general merchandise continues to...
Add Avenue Supermarts Ltd For Target Rs.4,200 - ICICI Securities
Add Avenue Supermarts Ltd For Target Rs.4,200 - ICICI Securities
Source: ICICI Securities Ltd
13/07/2022 12:37:34 PM
Buy Avenue Supermarts Ltd For Target Rs.4,971 - Yes Securities Strong growth and margin performance with new stores starting to contribute; maintain BUY Our view D?Mart registered better than expected revenue performance implying positive SSSG over pre?covid levels helped by higher inflation?led realizations and contribution of new stores opened in the last couple of years. Gross margins were higher by 340bps YoY to 15.8% driven by higher sales of high margin discretionary items; cost saving measures continue to aid operating margins. Its e?commer...
Buy Avenue Supermarts Ltd For Target Rs.4,971 - Yes Securities
Buy Avenue Supermarts Ltd For Target Rs.4,971 - Yes Securities
Source: Yes Securities Ltd
12/07/2022 12:54:07 PM
Neutral Avenue Supermarts Ltd For Target Rs.3,500 - Motilal Oswal Strong margin performance in an inflationary environment * DMART posted 19% EBITDA CAGR over pre-COVID levels (1QFY20-1QFY23) and doubled PAT (4% above our estimate), despite below par revenue per sq. ft., aided by aggressive store additions and healthy cost optimization. * Despite the COVID-led disruptions, DMART doubled its footprint (opened a commendable 110 stores) over the last three years. The weak Discretionary category was hit by an inflationary environment and higher store size...
Neutral Avenue Supermarts Ltd For Target Rs.3,500 - Motilal Oswal
Neutral Avenue Supermarts Ltd For Target Rs.3,500 - Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
11/07/2022 1:24:20 PM
Avenue Supermarts gains on reporting around 7-fold jump in Q1 consolidated net profit Avenue Supermarts is currently trading at Rs. 3987.30, up by 45.25 points or 1.15% from its previous closing of Rs. 3942.05 on the BSE. The scrip opened at Rs. 4023.00 and has touched a high and low of Rs. 4091.90 and Rs. 3968.00 respectively. So far 56637 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 5899.90 on 18-Oct-2021 and a 52 week low of Rs. 3185.10 on 16-May-2022. Last one week high and low of the scr...
Avenue Supermarts gains on reporting around 7-fold jump in Q1 consolidated net profit
Avenue Supermarts gains on reporting around 7-fold jump in Q1 consolidated net profit
Source: Accord Fintech
11/07/2022 10:44:24 AM
Key Stock News - JSW group, Aurobindo Pharma, Adani Group, Tata Motors, Avenue Supermarts Ltd By ARETE Securities Key News JSW in talks with PEs, foreign banks for Mytrah Energy acquisition The JSW group has initiated talks with several private equity (PE) funds, including American investment management firm Apollo Global Management, to acquire its renewable power producer, Mytrah Energy (India) Pvt Ltd (MEIPL). The firm’s acquisition amount will be announced next month, banking sources said. The current enterprise valuation is $2 billion. JSW group’s JSW Energy has a target to add 15 g...
Key Stock News - JSW group, Aurobindo Pharma, Adani Group, Tata Motors, Avenue Supermarts Ltd By ARETE Securities
Key Stock News - JSW group, Aurobindo Pharma, Adani Group, Tata Motors, Avenue Supermarts Ltd By ARETE Securities
Source: ARETE Securities Ltd
11/07/2022 9:52:11 AM
Avenue Supermarts Q1 net profit zooms 490.32% at Rs 679.64 cr The company reported standalone net profit of Rs 679.64 crore for the quarter ended June 30, 2022 as compared to Rs 115.13 crore in the same period last year, registering a year-on-year growth of 490.32 per cent. Net revenue of the company rose substantially by 94.90 per cent at Rs 9,806.89 crore in April-June quarter of this fiscal as against Rs 5,031.75 crore in the corresponding period last year. During April-June quarter, operating expenses increased by 82.91 per cent to Rs 8,799.00 crore...
Avenue Supermarts Q1 net profit zooms 490.32% at Rs 679.64 cr
Avenue Supermarts Q1 net profit zooms 490.32% at Rs 679.64 cr
Source: Dion Global Solutions Ltd
9/07/2022 3:55:28 PM
Neutral Avenue Supermarts Ltd For Target Rs. 3,500 - Motilal Oswal Financial Services DMART 1QFY23 pre-quarter – weak revenue trends Revenue trends continue to remain weak – LTL revenues declined by 13% (11% below our estimate) | Store additions at 21, above our estimate   Revenue growth 70% over pre-COVID levels, but declined on a LTL basis * DMART reported a weak revenue for 1QFY23, continuing the trend in the last two-to-three quarters. * Standalone revenue grew by ~2x YoY to INR98.1b, 70% over 1QFY20 (or pre-COVID) levels and 11% below our e...
Neutral Avenue Supermarts Ltd For Target Rs. 3,500 - Motilal Oswal Financial Services
Neutral Avenue Supermarts Ltd For Target Rs. 3,500 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
4/07/2022 12:42:58 PM
Avenue Supermarts reports 95% rise in standalone revenue in Q1 Avenue Supermarts has reported a rise of 94.90% in its standalone revenue from operations at Rs 9,806.89 crore for Q1 of FY23 as compared to Rs 5,031.75 crore for the same quarter in the previous year. The total number of stores as of June 30, 2022 stood at 294. Avenue Supermarts is a Mumbai-based company, which owns and operates DMart stores. D-Mart is an emerging national supermarket chain that offers customers a range of home and personal products under one roof.
Avenue Supermarts reports 95% rise in standalone revenue in Q1
Avenue Supermarts reports 95% rise in standalone revenue in Q1
Source: Accord Fintech
4/07/2022 10:49:43 AM
Avenue Supermarts zooms on reporting 3% rise in Q4 consolidated net profit Avenue Supermarts is currently trading at Rs. 3443.00, up by 208.05 points or 6.43% from its previous closing of Rs. 3234.95 on the BSE. The scrip opened at Rs. 3272.00 and has touched a high and low of Rs. 3499.15 and Rs. 3185.10 respectively. So far 48587 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 5899.90 on 18-Oct-2021 and a 52 week low of Rs. 2830.00 on 14-May-2021. Last one week high and low of the sc...
Avenue Supermarts zooms on reporting 3% rise in Q4 consolidated net profit
Avenue Supermarts zooms on reporting 3% rise in Q4 consolidated net profit
Source: Accord Fintech
16/05/2022 11:16:22 AM
Neutral Avenue Supermarts Ltd For Target Rs.3,500 - Motilal Oswal Healthy recovery overshadowed by market conditions * Avenue Supermarts (DMART)’s EBITDA grew 21% YoY driven by aggressive store expansion (21 stores in 4QFY22) and healthy cost optimization, following a weak SSSG that softened revenue growth. * Despite the stock correcting more than 35% since its peak, the valuation remains expensive. Further, management commentary remains mixed as it points to robust recovery in Mar’22 but raises concerns of a shift in ecommerce along with ...
Neutral Avenue Supermarts Ltd For Target Rs.3,500 - Motilal Oswal
Neutral Avenue Supermarts Ltd For Target Rs.3,500 - Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
16/05/2022 11:01:31 AM
Neutral Avenue Supermarts Ltd For Target Rs.4,500 - Motilal Oswal D-Mart 4QFY22 pre-quarter update Revenue growth weak at 18% YoY, adds 21 stores Revenue performance remains soft DMART reported a soft revenue in 4QFY22, even after factoring some impact of the Omicron COVID variant. Standalone revenue grew 18% YoY to INR86.1b, 39% over 4QFY20 levels, (which had nine days of lost sales as per the management). Calculated SSSG is negative: Blended revenue/sq. ft. fell 8% YoY to INR31,800 (5% below 4QFY20 levels), indicating weak SSSG v/s our expecta...
Neutral Avenue Supermarts Ltd For Target Rs.4,500 - Motilal Oswal
Neutral Avenue Supermarts Ltd For Target Rs.4,500 - Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
6/04/2022 12:42:07 PM
Avenue Supermarts zooms on getting rating reaffirmed at ‘AA+’ by CRISIL Avenue Supermarts is currently trading at Rs. 4094.70, up by 45.45 points or 1.12% from its previous closing of Rs. 4049.25 on the BSE. The scrip opened at Rs. 4118.00 and has touched a high and low of Rs. 4151.50 and Rs. 4082.05 respectively. So far 4253 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 5899.90 on 18-Oct-2021 and a 52 week low of Rs. 2677.00 on 23-Apr-2021. Last one week high and low of the scri...
Avenue Supermarts zooms on getting rating reaffirmed at ‘AA+’ by CRISIL
Avenue Supermarts zooms on getting rating reaffirmed at ‘AA+’ by CRISIL
Source: Accord Fintech
17/02/2022 2:30:45 PM
Reduce Avenue Supermarts Ltd For Target Rs.3,966 - Edelweiss Financial Services Stable showing; watch out for mix Avenue Supermarts (DMart) reported an in-line Q3FY22 performance despite a slight gross margin miss (14.9% versus 15.1% estimate; Q3FY20: 15%). Other highlights: i) Sales recovery – disclosed earlier – at 91% (on revenue/sq.ft) did lag our initial expectations of 100% recovery. ii) Store additions (17 in Q3FY22) is on course to meet the target of a total of 60 over FY20–22. iii) Management highlighted GM & Apparel is consistently cont...
Reduce Avenue Supermarts Ltd For Target Rs.3,966 - Edelweiss Financial Services
Reduce Avenue Supermarts Ltd For Target Rs.3,966 - Edelweiss Financial Services
Source: Edelweiss Financial Services Ltd
15/01/2022 11:24:58 AM
Large Cap : Sell Avenue Supermarts Ltd For Target Rs.4,150 - Geojit Financial Covid resurgence impacts short-term outlook Avenue Supermarts Ltd (DMart) owns & operates India’s most profitable supermarket, DMart. It provides products like Food, Non-Food (FMCG), General Merchandise & Apparel through 263 stores (total 10.3mn sq. ft). * We maintain our SELL rating with a Target of Rs.4,150 factoring likely impact due to resurgence of Covid-19 cases in the short-term and expensive valuation. * For Q3FY22, DMart reported healthy growth in Sales/PAT by ...
Large Cap : Sell Avenue Supermarts Ltd For Target Rs.4,150 - Geojit Financial
Large Cap : Sell Avenue Supermarts Ltd For Target Rs.4,150 - Geojit Financial
Source: Geojit Financial Services Ltd
14/01/2022 3:50:20 PM
Sell Avenue Supermarts Ltd For Target Rs.3,900 - ICICI Securities Not a BAAP story (please allow us to repeat an acronym which we coined in July 2020) Consensus (continues to) believe that DMart is a linear and secular growth story. We disagree. This analyst's >20 years Consumer experience suggests that in India, nuances matter more. We disagree with consensus' over-enthusiasm of BAAP. SELL. Watch-out for DMart (and modern retail) potentially getting disrupted like how India skipped wireline penetration and jumped directly to wireless. D...
Sell Avenue Supermarts Ltd For Target Rs.3,900 - ICICI Securities
Sell Avenue Supermarts Ltd For Target Rs.3,900 - ICICI Securities
Source: ICICI Securities Ltd
11/01/2022 10:21:21 AM
Neutral Avenue Supermarts Ltd For Target Rs.4,500 - Motilal Oswal Improved profitability led by cost management * Avenue Supermarts (DMART)’s consol EBITDA/PAT grew 26%/24% YoY on strong store adds, with revenue coming in 35% above pre-COVID levels (3QFY20). Lower cost of retailing has aided a 60bp improvement in the EBITDA margin since the pre-COVID quarter (3QFY20). * We factor in a robust FY22E–24E EBITDA/PAT CAGR of 46%, with a strong footprint addition – as we see limited impact on growth despite the COVID19 impact over the last...
Neutral Avenue Supermarts Ltd For Target Rs.4,500 - Motilal Oswal
Neutral Avenue Supermarts Ltd For Target Rs.4,500 - Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
10/01/2022 9:48:51 AM
Neutral Avenue Supermart Ltd For Target Rs.4,900 - Motilal Oswal DMart announced 3QFY22 revenue/store update Revenue growth tepid at 22% YoY (6% lower than estimated) * Tepid growth of 22% YoY below est (34% above pre-covid levels): Standalone revenues at INR90.6b grew 22% YoY (19% up QoQ), 6% lower than our estimates. (34% higher v/s precovid – 3QFY20). This is 3-4% better than last quarter (2QFY22) which was 29% above Pre-Covid. * SSSG positive but much below estimated 10%: SSSG was low single digit (~3-4%) with nearly 31% store adds over ...
Neutral Avenue Supermart Ltd For Target Rs.4,900 - Motilal Oswal
Neutral Avenue Supermart Ltd For Target Rs.4,900 - Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
3/01/2022 10:35:28 AM
Sell Avenue Supermarts Ltd : Recovery tracking well - ICICI Securities Recovery tracking well DMart’s 2Q revenue performance was good despite restrictions (only limited though). Gross margins recovered well (194 bps QoQ and 25 bps YoY); we believe further recovery in general merchandising will likely benefit gross margins. EBITDA margin expansion was led by operating leverage. In FY22 and beyond, we believe it could benefit from (1) the (consumer) relevance of value for money positioning, which, in our view, may potentially be a stronger competitive adv...
Sell Avenue Supermarts Ltd : Recovery tracking well - ICICI Securities
Sell Avenue Supermarts Ltd : Recovery tracking well - ICICI Securities
Source: ICICI Securities
10/11/2021 9:43:06 AM
Neutral Avenue Supermarts Ltd For Target Rs.4,900 - Motilal Oswal Continuing to deliver on growth * Avenue Supermarts (DMART)’s consol EBITDA/PAT grew >2x YoY on strong revenue recovery of 47% YoY (30% above pre-COVID levels). This was coupled with healthy improvement of 40bp/240bp in gross/EBITDA margins, as opex cost optimization was much better than expected. * We revise our FY22/FY23 EBITDA/PAT estimates by ~15%, largely extrapolating current cost efficiencies, even as sharp revenue recovery was built into our estimates. We factor in an F...
Neutral Avenue Supermarts Ltd For Target Rs.4,900 - Motilal Oswal
Neutral Avenue Supermarts Ltd For Target Rs.4,900 - Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
25/10/2021 11:38:48 AM
Avenue Supermarts tumbles despite reporting 2-fold jump in Q2 consolidated net profit Avenue Supermarts is currently trading at Rs. 4984.50, down by 345.15 points or 6.48% from its previous closing of Rs. 5329.65 on the BSE. The scrip opened at Rs. 5640.00 and has touched a high and low of Rs. 5899.90 and Rs. 4900.00 respectively. So far 271076 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 5,899.90 on 18-Oct-2021 and a 52 week low of Rs. 1949.30 on 19-Oct-2020. Last one week high and low of th...
Avenue Supermarts tumbles despite reporting 2-fold jump in Q2 consolidated net profit
Avenue Supermarts tumbles despite reporting 2-fold jump in Q2 consolidated net profit
Source: Accord Fintech
18/10/2021 3:04:17 PM
Add Avenue Supermarts Ltd : Strong revival and higher long‐term growth assumptions to help support valuations, Maintain ADD - Yes Securities Add Avenue Supermarts Ltd For Target Rs 5,530 Strong revival and higher long‐term growth assumptions to help support valuations, Maintain ADD Our view The recovery momentum witnessed towards the end of Q1 has picked up further pace displaying the resilience of the company’s value retailing business model and its ability to compete with online retailers. While valuations have become more expensive post recent run‐up and can be a near‐term risk in case of a market correction, ...
Add Avenue Supermarts Ltd : Strong revival and higher long‐term growth assumptions to help support valuations, Maintain ADD - Yes Securities
Add Avenue Supermarts Ltd : Strong revival and higher long‐term growth assumptions to help support valuations, Maintain ADD - Yes Securities
Source: Yes Securities Ltd
18/10/2021 9:29:16 AM
Neutral Avenue Supermarts Ltd For Target Rs.3,220 - Motilal Oswal D-Mart – Analyst Meet Build few things, but build them well DMart had a marathon analyst meet, which, in summary, was a reiteration of its simple approach to profitable growth. It provided detailed management insights on footprint expansion, its e-commerce strategy, the DMart Ready approach, and other areas – such as recovery from COVID, the private label opportunity, and the reiteration of its low-cost low-pricing model.   Enough firepower for growth DMart reiter...
Neutral Avenue Supermarts Ltd For Target Rs.3,220 - Motilal Oswal
Neutral Avenue Supermarts Ltd For Target Rs.3,220 - Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
18/08/2021 11:13:51 AM
Hold Avenue Supermarts Ltd For Target Rs.3720 - ICICI Direct Sharp revenue recovery post easing of restrictions… About the stock: Avenue Supermarts (ASL) operates supermarket chain under ‘DMart’ brand with a core focus on value retailing. D-Mart, through its proven business model, has been able to maintain consistent profitability and remains an exceptional performer in its peer group. * D-Mart has progressively enhanced its return ratios (RoIC: 20%+) despite being capital intensive (follows ownership model) * Robust stor...
Hold Avenue Supermarts Ltd For Target Rs.3720 - ICICI Direct
Hold Avenue Supermarts Ltd For Target Rs.3720 - ICICI Direct
Source: ICICI Direct
11/08/2021 12:30:24 PM
Reduce Avenue Supermarts Ltd For Target Rs. 3,000 - ICICI Securities Muted 1Q; a beneficiary of consumers seeking value & inflation pass-through in FY21-23e DMart’s 1Q revenue performance was decent in the context of strict operating restrictions. However, a ~130 bps yoy decline in gross margin was concerning given sales mix would have been largely comparable (weak general merchandise); EBITDA margin expansion was led by operating leverage. In FY22 and beyond, we believe, it will benefit from (1) the (consumer) relevance of value for money positio...
Reduce Avenue Supermarts Ltd For Target Rs. 3,000 - ICICI Securities
Reduce Avenue Supermarts Ltd For Target Rs. 3,000 - ICICI Securities
Source: ICICI Securities
4/08/2021 11:25:23 AM
Add Avenue Supermarts Ltd For Target Rs.3,820 - Yes Securities Offline business making quick recovery, increased efforts on online; rich valuations to limit upside Result Highlights * Result summary ‐ Overall weak quarter with both revenue and margins impacted by lower operational hours during the quarter but traction is building up on all fronts with operations and inventory normalizing, supply chain stable and construction activity resuming. Revenue/EBITDA/PAT growth of 31%/103%/132% respectively. * Topline ‐ Revenue up 3...
Add Avenue Supermarts Ltd For Target Rs.3,820 - Yes Securities
Add Avenue Supermarts Ltd For Target Rs.3,820 - Yes Securities
Source: Yes Securities Ltd
24/07/2021 10:27:54 AM
Neutral Avenue Supermarts Ltd For Target Rs. 3,220 - Motilal Oswal Gross margin disappoints amid a steady revenue recovery * The revenue recovery in DMART has been much better than that during the previous lockdown, growing 33% YoY (13% below pre-COVID levels). Gross margin declined by 110bp YoY, despite the base quarter having seen a severe impact on the margin accretive Discretionary category due to COVID-19. * We have largely maintained our estimates and expect a buoyant recovery from 2QFY22 onwards, factoring in 24% revenue/PAT CAGR over FY20-23E. ...
Neutral Avenue Supermarts Ltd For Target Rs. 3,220 - Motilal Oswal
Neutral Avenue Supermarts Ltd For Target Rs. 3,220 - Motilal Oswal
Source: Motilal Oswal Financial Services
17/07/2021 11:09:37 AM
Neutral Avenue Supermarts Ltd For Target Rs. 3,105 - Motilal Oswal D-Mart – Revenue/ Store Update Highlights from DMART’s pre-quarterly update for 1QFY22 Revenue up 30% YoY, but 13% below pre-COVID levels: * Revenue rose 30% YoY to INR503.2b in 1QFY22, 5% below our estimate and 13% below pre-COVID (1QFY20) levels. * Category-wise, we estimate non-Discretionary revenue (Food and nonFood FMCG), which constitutes 77% of total revenue, to have achieved 95% of pre-COVID revenue (1QFY20), with Discretionary revenue touching 60% levels. *...
Neutral Avenue Supermarts Ltd For Target Rs. 3,105 - Motilal Oswal
Neutral Avenue Supermarts Ltd For Target Rs. 3,105 - Motilal Oswal
Source: Motilal Oswal Financial Services
15/07/2021 11:31:38 AM