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KRChoksey Research has recommended a buy rating on Vishal Retail with a target price of Rs 546. VRL’s sales grew by 24.7% q-o-q to Rs 396.9 crore mainly driven by store additions, which led to an increase in average footfalls (10% q-o-q) and increase in sales per sq ft (1.5% q-o-q).
KRChoksey Research has recommended a buy rating on Vishal Retail with a target price of Rs 546 in its August 6, 2008 research report. "VRL’s sales grew by 24.7% q-o-q to Rs 396.9 crore mainly driven by store additions, which led to an increase in average footfalls (10% q-o-q) and increase in sales per sq ft (1.5% q-o-q)."
"At the CMP of Rs 390, VRL is trading at 12.6x its FY09E EPS of Rs 30.8 and at EV/EBITDA multiple of 12.0x its FY09E EBITDA of Rs 120.9 crore. At these levels the company’s stock is trading at a substantial discount to its peer group. We recommend a “BUY” to the scrip with a twelve-month price target of Rs 546, which represents an upside potential of 40.0%," says KRChoksey's research report. Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. For further details click on attachment......
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