Item: Future Retail Ltd.
Rating: 5
Author: Axis Direct

Result Update:Future Retail

Buy: Future Retail Ltd.

Target

Axis Direct

In-line results: Q2 comparable^ sales grew 20% supported by 10% SSSg. Gross profit grew 12% YoY. EBITDA grew 65%, driven by positive operating leverage. PAT doubled to Rs 1.5 bn, as net profit margin improved 160 bps to 3.4%.

Comment

Name	Companies Held
Hitesh Ramji Javeri	50
Mahendra Girdharilal	50
Sangeetha S	50
Dheeraj Kumar Lohia	45
Globe Capital Market Ltd	42

Name	Companies Held
Hdfc Trustee Company Limited	112
Reliance Capital Trustee C...	103
Birla Sun Life Trustee Com...	72
General Insurance Corporat...	60
President Of India	56

Name	Returns(%)
Name	Week	Month	Year
Quant Active Fund - Reg - G	-0.25%	0.77%	15.31%
UTI - Equity Fund. - Reg - G	-0.90%	3.94%	11.15%
HDFC Multi-Asset Fund - Reg - G	-2.17%	0.82%	8.52%
Edelweiss Equity Savings Fund - Reg - G	-0.45%	0.85%	6.74%
IDFC Focused Equity Fund - Reg - G	-2.12%	1.69%	6.64%

Name	Returns(%)
Name	Week	Month	Year
DHFL Pramerica Midcap Opportunities Fund - Reg - G	-2.21%	0.27%	27.98%
DSP Small Cap Fund - Reg - G	-0.70%	1.23%	17.54%
Union Small Cap Fund - Reg - G	-1.80%	-0.25%	15.20%
Kotak Small Cap Fund - Reg - G	-0.55%	1.63%	14.06%
UTI - Mid Cap Fund - Reg - G	-0.56%	0.41%	13.19%

Name	Returns(%)
Name	Week	Month	Year
Parag Parikh Long Term Equity Fund - Reg - G	-2.14%	-1.08%	18.67%
DHFL Pramerica Diversified Equity Fund - Reg - G	-1.63%	2.41%	13.69%
Quant Mid Cap Fund - Reg - G	0.05%	0.19%	13.41%
Taurus Ethical Fund - Reg - G	-1.10%	0.85%	12.17%
Baroda Mid-cap Fund - Reg - G	-0.71%	0.41%	12.16%

Future Retail Ltd.

Result Update:Future Retail

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