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Buy V-Mart Retail; target of Rs 2375: Motilal Oswal

Motilal Oswal is bullish on V-Mart Retail recommended buy rating on the stock with a target price of Rs 2375 in its research report dated May 18, 2023.

May 20, 2023 / 09:48 PM IST


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Motilal Oswal's research report on V-Mart Retail

V-Mart Retail (VMART)’s 4QFY23 EBITDA declined 54% YoY (a big miss) as the 30% YoY revenue growth was offset by lower GM and higher opex due to the integration of LimeRoad. The inflation-led demand impact within the value segment and incremental costs towards the recently acquired LimeRoad online business could drag profitability over the next couple of quarters as well. However, gradual recovery, footprint additions and improvement in Unlimited are likely to drive growth.


We model a revenue/EBITDA CAGR of 19%/31% over FY23-25. Reiterate BUY with a TP of INR2,375 (based on 11x EV/EBITDA on Mar’25E).

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V-Mart Retail - 19 -05 - 2023 - moti

Broker Research
first published: May 20, 2023 09:48 pm