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Neutral V-Mart Retail Ltd For Target Rs.4,750 By Motilal Oswal Financial Services Ltd Strong SSSG and lower LR losses drive 2Q beat * V-Mart Retail’s (VMART) revenue grew 20% YoY in 2QFY25, led by strong SSSG and store additions. EBITDA beat our estimate by 30%, aided by better productivity, improvement in gross margin for offline format, and lower losses in LimeRoad (LR). * We broadly maintain our revenue/EBITDA estimates for FY25/FY26. We expect revenue/EBITDA CAGR of 17%/39% over FY24-27 as we build in improved SSSG and lower losses in the online segme...
Neutral V-Mart Retail Ltd For Target Rs.4,750 By Motilal Oswal Financial Services Ltd
Neutral V-Mart Retail Ltd For Target Rs.4,750 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2024-11-15 02:20:57 pm
Neutral V-Mart Retail Ltd For Target Rs.3,500 By Motilal Oswal Financial Services Strong performance amid weak environment * VMART’s EBITDA jumped 89% YoY (beat) in 1QFY25, aided by 11% SSSG, a reduction in Limeroad losses and controlled ad spending. * We raise our EBITDA estimates by 14%/11% for FY25/FY26, considering strong cost-control measures (rationalizing losses in Limeroad), the closure of non-performing stores, and improved SSSG (as indicated in our report) appeared to have played out in VMART’s favor. * We estimate a CAGR of 17%/48% in revenu...
Neutral V-Mart Retail Ltd For Target Rs.3,500 By Motilal Oswal Financial Services
Neutral V-Mart Retail Ltd For Target Rs.3,500 By Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd Ltd
2024-08-09 11:52:01 am
Neutral V-Mart Retail Ltd For Target Rs.2,800 By Motilal Oswal Financial Services 1QFY25 pre-quarter update Revenue up 16% YoY (in line) led by 11% SSSG; recovery continues in both the segments * Consolidated revenue grew 16% YoY to INR7.9b (in line), led by 11% SSSG and 4% YoY footprint addition. * SSSG for V-Mart (core) and Unlimited has improved for the third straight quarter and stood at 12% and 8%, respectively, in 1QFY25. * Limeroad revenue declined 29% YoY to INR120m. This is positive, as it could curtail the consol. EBITDA loss. Adjusted for this, VMAR...
Neutral V-Mart Retail Ltd For Target Rs.2,800 By Motilal Oswal Financial Services
Neutral V-Mart Retail Ltd For Target Rs.2,800 By Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services
2024-07-12 12:09:46 pm
Neutral V-Mart Retail Ltd. For Target Rs. 2,200 - Motilal Oswal Financial Services Healthy SSSG drives operating performance * V-Mart Retail (VMART)’s EBITDA jumped 75% YoY (beat) fueled by 13% YoY revenue growth (in line), mainly supported by store additions and a 5%/5%/ 13% SSSG for Blended/VMart/Unlimited stores. This, along with the controlled costs of retailing, supported earnings for 4QFY24. * Strong cost-control measures in the form of rationalizing losses within the online segment, the closure of non-performing stores, and improved SSSG (as indicated in...
Neutral V-Mart Retail Ltd. For Target Rs. 2,200 - Motilal Oswal Financial Services
Neutral V-Mart Retail Ltd. For Target Rs. 2,200 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services
2024-06-29 11:27:14 am
Neutral V-Mart Retail Ltd. For Target Rs. 2,200 - Motilal Oswal Financial Services Healthy SSSG drives operating performance *  V-Mart Retail (VMART)’s EBITDA jumped 75% YoY (beat) fueled by 13% YoY revenue growth (in line), mainly supported by store additions and a 5%/5%/ 13% SSSG for Blended/VMart/Unlimited stores. This, along with the controlled costs of retailing, supported earnings for 4QFY24. *  Strong cost-control measures in the form of rationalizing losses within the online segment, the closure of non-performing stores, and improved SSSG (as i...
Neutral V-Mart Retail Ltd. For Target Rs. 2,200 - Motilal Oswal Financial Services
Neutral V-Mart Retail Ltd. For Target Rs. 2,200 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services
2024-06-27 11:39:14 am
Buy V-Mart Retail Ltd. For Target Rs.2,617 By Centrum Broking V-Mart’s Q3FY24 print was in-line to our expectations; revenue/EBITDA/PAT grew 14.4%/15.4%/ 41.3%. We believe sharp price cuts effected in V-Mart/Unlimited franchise helped to, (1) 23% growth in footfall, (2) SSSG at 4% and (3) 34% contribution from new buyers. V-Mart/Unlimited revenue grew by 13%/12%, yet Limeroad saw 2.3x jump in revenues at Rs170mn, V-Mart/ Unlimited ASP cut by 5%/10% driving faster growth in T1/T4 markets at 7%/12% yet cut by 5% in T3 (high ...
Buy V-Mart Retail Ltd. For Target Rs.2,617 By Centrum Broking
Buy V-Mart Retail Ltd. For Target Rs.2,617 By Centrum Broking
Source: Centrum Broking Ltd
2024-03-26 03:22:22 pm
Neutral V-Mart Retail For Target Rs. 1,905 - Motilal Oswal Financial Services Ltd VMart 3QFY24 pre-quarter update Revenue grew 14.4% YoY (in line), driven by footprint addition; recovery seen in the core segment. ? Consolidated revenue grew 14.4% YoY to INR8.9b (in line), mainly driven by footprint addition. ? Overall SSSG stood at 4% YoY for 3QFY24 ? SSSG for VMart (core) and Unlimited stood at 5% and 1%, respectively. ? The quarter included revenue from Limeroad to the tune of ~INR170m (- 22% QoQ). Adjusted for this, revenue for VMart (including Unlimited ...
Neutral V-Mart Retail For Target Rs. 1,905 - Motilal Oswal Financial Services Ltd
Neutral V-Mart Retail For Target Rs. 1,905 - Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2024-01-05 11:32:33 am