Rs60-80bn fund infusion in FY26 given limited cash in balance sheet and long gestation of setting up stores (Land, building etc over 2.5 years). We cut EPS by 0.7/6.1/7.1% for FY25/26/27. We have DCF based target price of Rs3942 (Rs3958 earlier). However, the stock at 76xFY27EPS with 14% EPS CAGR over FY25-27, leaves little room for further re-rating. Retain Hold openings in 4Q25 to 28 stores taking the total addition to 50 stores, highest store...