Buy V Mart Retail, target price Rs 3350: Axis Securities

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Buy V Mart Retail, target price Rs 3350:  Axis Securities


Axis Securities has buy call on with a target price of Rs 3350. The current market price of . is Rs 2886.1. Time period given by analyst is 9 months when V Mart . price can reach defined target.

V-Mart Retail Ltd., incorporated in the year 2002, is a Mid Cap company (having a market cap of Rs 5776.97 Crore) operating in Retail sector.

V-Mart Retail Ltd. key Products/Revenue Segments include Income from Retailing and Other Operating Revenue for the year ending 31-Mar-2022.

Financials

For the quarter ended 30-06-2022, the company reported a Standalone Total Income of Rs 591.97 Crore, up 28.25 % from last quarter Total Income of Rs 461.57 Crore and up 225.41 % from last year same quarter Total Income of Rs 181.92 Crore. Company reported net profit after tax of Rs 20.45 Crore in latest quarter.

Investment Rationale
The brokerage believes value players such as V-Mart and

should see earnings and profitability improvement as rural and small towns recover coupled with market share gain from smaller/unorganized players, continued demand for quality value-for-money products, strong festive season and sustained product additions.



Promoter/FII Holdings
Promoters held 46.14 per cent stake in the company as of 30-Jun-2022, while FIIs owned 18.19 per cent, DIIs 25.56 per cent.

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