Buy V Mart Retail, target price Rs 4750: Axis Securities

Axis Securities has buy call on V Mart Retail with a target price of Rs 4750. The current market price of V Mart Retail Ltd. is Rs 4194.75. 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 8347.76 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 30-09-2021, the company reported a Standalone Total Income of Rs 342.04 Crore, up 88.02 % from last quarter Total Income of Rs 181.92 Crore and up 79.53 % from last year same quarter Total Income of Rs 190.52 Crore. Company reported net profit after tax of Rs -14.14 Crore in latest quarter.


Investment Rationale
In view of the healthy Q2 performance it revises store opening estimates for FY22/23/24 with improvement in profitability thus leading to an upward revision in estimates and rating to BUY (HOLD earlier) and revised TP of Rs. 4,750 (Rs. 3,685 earlier).

Promoter/FII Holdings
Promoters held 46.44 per cent stake in the company as of 30-Sep-2021, while FIIs owned 22.12 per cent, DIIs 21.69 per cent.