Buy V Mart Retail, target price Rs 3500: Axis Securities

Axis Securities has buy call on V Mart Retail with a target price of Rs 3500. The current market price of V Mart Retail Ltd. is Rs 2922. Time period given by analyst is one year when V Mart Retail Ltd. price can reach defined target.

V Mart Retail Ltd., incorporated in the year 2002, is a Mid Cap company (having a market cap of Rs 5827.86 Crore) operating in Retail sector.

V Mart Retail Ltd. key Products/Revenue Segments include Income from Retailing and Other Operating Revenue for the year ending 31-Mar-2021.



Financials
For the quarter ended 30-06-2022, the company reported a Standalone Total Income of Rs 591.97 Crore, up 28.25 % from last quarter Total Income of Rs 461.57 Crore and up 225.41 % from last year same quarter Total Income of Rs 181.92 Crore. Company reported net profit after tax of Rs 20.45 Crore in latest quarter.

Investment Rationale
The brokerage maintains a BUY rating on the stock with a revised TP of Rs 3,500, implying an upside of 19% from the CMP

Promoter/FII Holdings
Promoters held 46.14 per cent stake in the company as of 30-Jun-2022, while FIIs owned 18.19 per cent, DIIs 25.56 per cent.