V-Mart Retail Ltd. share price target

Reaping the First Mover Advantage in Smaller Towns: V-Mart Retail Ltd's top-line for Q1FY19 grew 15% on YoY basis to Rs. 3612 Mn mainly led by volume growth owing to stores addition. The gross margin expanded by 209 bps as a result of lower cost of goods sold and higher full pricesales.

Leading the Value Retail in Smaller Towns: V-Mart Retail's revenue in Q4FY18 grew 18% on YoY basis to Rs. 2974Mn led by stores addition. EBITDA increased by 55% over last year same quarter and stood at Rs. 231 Mn with a margin expansion of 185bps on YoY basis. Same store sales grew by 7% for the quarter on a high base of 34% last year.

Eyeing on Leading the Value-Retailing Segment Nationally: V-Mart ltd registered a 34% increase in EBIDTA for Q3FY18 which was driven majorly by reduction in tax rates (from 7% to 5%), reduction in wastages, reducedoperating expenses and lower advertising and promotional expenses. The company is focused on achieving volume-driven growth.

Despite the average selling price remaining flat Rs 182 ($2.8) in Q2FY18 vs Rs 180.30 ($2.7) in Q2FY17; for apparel it was down by 2.1%2.1% V-Mart recorded a 23.5% (y-o-y) y) rise in its revenues last quarter. This...

Steering the Company's Growth through Customer Connectand Planning to Delve into Tier-IV Cities: Multi-brand retail chain V-Mart Ltd registered a 41.5% YoY increase in top-line atRs. 2518 Mn and 157.9% increase in EBITDA at Rs.133 Mn for Q4FY17 as against revenue and EBITDA of Rs.1780 Mn and Rs.52 Mn in Q4FY16 respectively. EBITDA margin for Q4FY17 stood at 5.3%. The company's bottom-line has surged to register a net profit of Rs. 50 Mn as compared to net profit of Rs. 5 Mn previous year for the same quarter.

Q2 saw a net loss of Rs 1.83 crs ($0.3m) and 47% (y-o-y) fall in operating profit due to intense competition tion from similar players opening up new stores in the same vicinity, increased promotional spend, discounts, rise in man power cost, heavy rainfall and other cost increments. The same store sales in Q3 grew by 17%...

Erosion of Margins on Account of Branding and Promotion Expenses: V-mart Retail Ltd delivered disappointing Q2FY17 performance with a net loss of Rs.18 Mn, primarily due to heavy competition from unorganized players, increasein promotional expenses and stock liquidation strategy. During Q2FY17, V-marts top-line has reported YoY growth of 21.1% to Rs. 1959 Mn. EBITDA has slipped47.7% YoY to Rs. 30 Mn while EBITDA margins contracted by 202bps YoY to 1.5%.