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Hold Avenue Supermarts: target of Rs 3720: ICICI Direct

ICICI Direct recommended hold rating on Avenue Supermarts with a target price of Rs 3720 in its research report dated July 22, 2021.

July 27, 2021 / 03:47 PM IST
 
 
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ICICI Direct's research report on Avenue Supermarts


Avenue Supermarts (ASL) operates supermarket chain under ‘DMart’ brand with a core focus on value retailing. D-Mart, through its proven business model, has been able to maintain consistent profitability and remains an exceptional performer in its peer group.D-Mart has progressively enhanced its return ratios (RoIC: 20%+) despite being capital intensive (follows ownership model) Robust store operating metrics (breakeven in 18-24 months of its operations and one of industry best revenue/sq ft: Rs 32000+)


Outlook


We continue to remain structurally positive and maintain HOLD rating We value ASL at Rs 3720 i.e. 60x FY23E EV/EBITDA


For all recommendations report, click here


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first published: Jul 27, 2021 03:47 pm

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