CD Equisearch has given Hold recommendation for V-Mart Retail with a target price of Rs. 2530 in its research report issued on Oct 12, 2022
CD Equisearch’s research report on V-Mart Retail
V-Mart clocked in overall revenues of Rs. 587.88 crs in Q1FY23, witnessing a year-over-year growth of over 231% on a favourable base, though this recovery remained sluggish as excluding the contribution from Unlimited stores, V-Mart’s revenues of around Rs. 470 crs grew by nearly 165% over Q1FY22 and some 4% over pre-covid levels (Q1FY20).
Weakening return on capital reveals a grave concern. Balancing odds, we assign a ‘hold’ rating on the stock with a target price of Rs 2530 (previous target Rs 3000).