2544.80 138.85 (5.77%)
The 19 reports from 7 analysts offering long term price targets for V Mart Retail Ltd. have an average target of 2084.43. The consensus estimate represents a downside of -18.09% from the last price of 2544.80.
|Summary||Date||Stock||Broker||Price at Reco.||Target||Price at reco|
Change since reco(%)
|2020-12-07||V Mart Retail Ltd. +||BOB Capital Markets Ltd.||2186.25||1750.00||2186.25 (16.40%)||31.23||Sell|
|2020-11-21||V Mart Retail Ltd. +||Karvy||2018.10||2274.00||2018.10 (26.10%)||Target met||Hold|
High Valuations Despite Increased Rural Demand and Market Share Gain Possibilities: Footfalls continue to be low as the textile industry continues to witness selectivespecific purchases based on needs in the current economic scenario.
|2020-11-20||V Mart Retail Ltd. +||Motilal Oswal||2148.60||2350.00||2148.60 (18.44%)||Target met||Buy|
We interacted with the V-Mart management to gain the latest insights on the developments and recovery in the Retail Apparel market. Here are the key highlights: Revenue recovery and a rise in footfall in lower tier cities have been better v/s metro cities. Thus, recovery in value retailers such as V-Mart is better v/s urbancentric retailers. We understand sales during the festive season were lower by ~20% YoY on an LTL...
|2020-11-13||V Mart Retail Ltd. +||Dolat Capital||1988.10||2496.00||1988.10 (28.00%)||Target met||Buy|
|2020-11-11||V Mart Retail Ltd. +||Motilal Oswal||1963.75||2350.00||1963.75 (29.59%)||Target met||Buy|
Revenue declined 44% YoY (11% beat), better than other apparel companies. Strong cost control measures enabled it to achieve breakeven at the EBITDA level at -INR3m (est. INR32m loss). We increase our FY21E revenue/EBITDA estimates by 7%/2% on better than expected result. Further, we revise FY22E EBITDA up by 26% on gross...
|2020-11-11||V Mart Retail Ltd. +||BOB Capital Markets Ltd.||1967.60||1750.00||1967.60 (29.34%)||31.23||Sell|
|2020-09-08||V Mart Retail Ltd. +||BOB Capital Markets Ltd.||1959.45||1665.00||1959.45 (29.87%)||34.57||Sell|
|2020-08-26||V Mart Retail Ltd. +||CD Equisearch||2043.45||1692.00||2043.45 (24.53%)||33.51||Sell|
Battered by no meager stress in the retail fashion industry owing to large scale lockdowns nationally, V-Mart Mart posted 82.1% decline in revenues in the first quarter of FY21 the sharpest decline thus far. Business remained largely impacted in April and mostt parts of May with operational days at a dismal 2% and 22% respectively. Stress in discretionary consumer spend...
|2020-08-11||V Mart Retail Ltd. +||BOB Capital Markets Ltd.||1794.55||1665.00||1794.55 (41.81%)||34.57||Sell|
|2020-07-21||V Mart Retail Ltd. +||BOB Capital Markets Ltd.||1789.40||1630.00||1789.40 (42.22%)||35.95||Sell|
|2020-06-27||V Mart Retail Ltd. +||BOB Capital Markets Ltd.||1699.60||1560.00||1699.60 (49.73%)||38.70||Sell|
|2020-06-11||V Mart Retail Ltd. +||Karvy||1790.30||1735.00||1790.30 (42.14%)||Target met||Sell|
|2020-06-02||V Mart Retail Ltd. +||BOB Capital Markets Ltd.||1663.65||1560.00||1663.65 (52.96%)||Target met||Buy|
BOB Capital Markets Ltd.
Weekly Wrap: Better macro prints supported markets. VMART: Lockdown exacts severe toll on business. Banking Credit Tracker: Lockdown mars retail credit growth
|2020-06-02||V Mart Retail Ltd. +||Nirmal Bang Institutional||1747.00||2229.00||1747.00 (45.67%)||Target met||Buy|
V-Mart Retail- 4QFY20 Result Update- 4Q was shaping up well; could benefit from steady farmer income
Nirmal Bang Institutional
4Q was shaping up well; could benefit from steady farmer income Seasonally, 4Q is typically the second worst quarter of the year for V-Mart (VRL) with 3Q being the best followed by 1Q and 2Q being the worst. VRL's 4QFY20 numbers were better than expected. While revenue was in-line, better than expected gross margin (though flat YoY) helped company deliver a positive EBITDA (pre IndAS 116) while we were expecting a loss (due to the Covid-19 impact). VRL had EBITDA margin of +2% while we were expecting -1.9%. 4QFY20 saw revenue growth of 29%, LTL growth of 8% and EBITDA (including IndAS 116, in our view) growth of 60% till 15th March when Covid-19 related lockdowns hit sales. The unusual strength in the first 75 days...
|2020-02-10||V Mart Retail Ltd. +||Karvy||2257.00||2600.00||2257.00 (12.75%)||2.17||Hold|
|2020-02-08||V Mart Retail Ltd. +||HDFC Securities||2279.65||2500.00||2279.65 (11.63%)||Target met||Buy|
1) Strong execution, 2. Insulation from an online onslaught and 3) inherent advantage within the ecosystem given the tail's precarious working capital position makes VMART our top pick in apparel retail. We revise our DCF-based TP upwards to Rs. 2,500/sh (earlier Rs. 2,150/sh). Revision is a function of 1. DCF roll-over to FY22, 2. 3/7% increase in FY21/22 EBITDA estimates to factor in better gross margins given the focus on full-price sell-through/fresh merchandise. V-MART continues to track strong growth, albeit expansion-led. SSSG print remains uninspiring (1%). What surprised us positively were higher margins, low SSSG notwithstanding. 1. Clockwork-like execution, 2. Higher full price sell-through, 3. Better merchandise sourcing margins courtesy vendor consolidation underpinned margin expansion. Store expansion remains tactical in existing Tier 1/2 catchments to tighten supply chain costs and in catchments with struggling peers (credit cycles running up for the latter) to gain market share.
|2020-02-06||V Mart Retail Ltd. +||BOB Capital Markets Ltd.||2279.65||2320.00||2279.65 (11.63%)||Target met||Sell|
|2020-02-06||V Mart Retail Ltd. +||Motilal Oswal||2279.65||2650.00||2279.65 (11.63%)||4.13||Neutral|
6 February 2020 V-Mart recorded a strong sales/PAT growth of 21%/58% YoY (7% beat) in 3QFY20 amidst weak 2% SSSG due to the poor macro outlook, subdued festive season and muted pre-winter sales. However, we raise our FY20/FY21 EBITDA estimate by 14%/11%, on the back of its steady pace of store additions and strong cost optimization initiatives driving margin improvement. However, given the weak economic outlook and the stocks recent sharp rally, we maintain V-Marts revenues for 3QFY20 were up 21% YoY to INR5.6b (7% above est.), despite a weak economic environment and slowing consumer spending. Gross margin improved by 80bp YoY to 36.3%, led by supplier consolidation and efficient merchandise sourcing. Pre Ind-AS116, EBITDA was up 29% YoY to INR944m (16% beat), led by EBITDA margin improvement of 16.8% (up 100bp YoY). PAT at INR661m was up 58% YoY (22% beat), driven by higher sales and improving margins.
|2019-11-29||V Mart Retail Ltd. +||CD Equisearch||1723.90||1360.00||1723.90 (47.62%)||Target met||Sell|
without the adjustment, operating loss would have been to the tune of Rs 7.87 crs/$1.1m (vs loss of Rs 3.86 crs/$0.6m in Q2FY19). Higher depreciation expense and finance cost due to lease rental adjustment dented PBT (loss of Rs 22.88 crs/$3.3m vs loss of Rs 9.68 crs/$1.4m...
|2019-11-08||V Mart Retail Ltd. +||Karvy||1716.95||1894.00||1716.95 (48.22%)||Target met||Hold|