The V-Mart Retail stock has been a big buzzer off late. In an interview to CNBC-TV18, Lalit Agarwal, CMD of the company spoke about the latest happenings in his company and the sector.
For V-Mart the mid-tier cities have been good and they have outperformed in these cities than the tier I, said Lalit Agarwal, CMD, V-Mart Retail.
The V-Mart Retail stock has been on fire with a 250 percent gain in the last one year and is trading near an all-time high. The company is also in focus as at a cabinet meeting later today, the government may allow 100 percent foreign direct investment (FDI) in single brand retail through automatic route.
In an interview to CNBC-TV18, Lalit Agarwal, CMD of V-Mart Retail spoke about the latest happenings in the company and sector and also shared his outlook for FY18.
V-Mart Retail reported strong Q1 numbers. In an interview to CNBC-TV18, Lalit Agarwal, CMD of V-Mart Retail spoke about the results and his outlook for the company.
In an interview to CNBC-TV18, Lalit Agarwal, CMD of V-Mart Retail discuss the business outlook ahead as well as shared his views about goods and services tax (GST) impact on the sector overall.
Confident of 10-12 percent in same store sales growth (SSSG) on back of GST and other initiatives taken up by the government, said Lalit Agarwal, CMD, V-Mart Retail.
Money spent during election time had increased spending and now with this loan waiver and other policies, the consumer sentiment will improve further and therefore spending will continue to improve, said Lalit Agarwal of V-Mart Retail.
V-Mart Retail shares have gained nearly 25 percent in the last one month in the run-up to the initial public offer of D-Mart operator Avenue Supermarts.
In an interview to CNBC-TV18, Lalit Agarwal, CMD of V-Mart Retail spoke about the results and his outlook for the company.
Demand in the semi urban belt continues to remain muted and because of that, same-store-sales growth has also dipped, Lalit Agarwal, CMD of V-Mart Retail told CNBC-TV18.
The move will help bring incremental tax income into the government's kitty and generate employment, says Kumar Rajagopalan of Retailer Association of India.
The retail chain reported a 70 percent decline in standalone net profit at Rs 48 lakh as in the fourth quarter compared to a net profit of Rs 1.60 crore in year-ago period. Net sales during Q4 rose 4.28 percent to Rs 177.50 crore.
Lalit Agarwal, CMD, V-Mart Retail said the Same-store sales growth (SSSG) was weak in Q3 due to weak footfalls which impacted profits.
Lalit Agarwal, CMD of V-Mart Retail said he second quarter growth has seen some downfall due to low monsoon and no festivities. However, he expects a better third quarter.
V-Mart, a store which calls itself to be a true value for money, targets a growth of around 30 percent for FY16 with a same store sales growth of about 10 percent for the coming quarters.
Lalit Agarwal of V-Mart Retail says since the tier II, III cities haven‘t shown tendency to shop/buy online, they do not see threat from online sales for now at least.
Lalit Agarwal, managing director, V-Mart Retail, says that currently, the company has 62 stores and they plan to increase the number of stores to 94 stores by 2014. The return on net worth of the company currently stands at 26 percent.