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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
V-Mart Retail exits FY25 in style, but competition threat lingers
Subscribe to enjoy similar stories. Investors in V-Mart Retail Ltd shares appear thrilled with its business update for the March quarter (Q4FY25) and are likely expecting another good year. V-Mart’s shares shot up over 10% on Wednesday.
This comes after the stock had fallen a whopping 35% from its 52-week highs of ₹4,520 apiece seen on 31 October. So, valuations were relatively cheaper. Year-on-year growth in total revenue, which includes V-Mart and LimeRoad digital marketplace, was 17% during Q4.
In 9MFY25 too, growth was 17%. Store additions also aided Q4 growth. Besides, same-store sales growth (SSSG) came in at 8% versus 10% and 15% in Q3 and Q2, respectively.
This SSSG is for combined V-Mart and Unlimited stores. SSSG measures comparable sales over a period of time. SSSG for V-Mart (core), meaning just the V-Mart format, stood at 7% in Q4, versus 10% in Q3.
“We believe that less severe winters in north India could be a reason for the moderation in SSSG for V-Mart (core)," said Motilal Oswal Financial Services. To be sure, FY25 was marked by decent growth and robust earnings improvement for V-Mart. Reported Ebitda for 9MFY25 was up as much as 79% year-on-year to ₹309 crore.
Excluding LimeRoad, FY25 SSSG and revenue growth stood at 11% and 8%, respectively. V-Mart’s recovery momentum from an unfavourable rural cycle and past capital allocation stumbles remains on track, according to HDFC Securities. “Footfall/sales densities continue to inch back to normalcy; rental bills are getting re-calibrated downwards; WC (working capital) pain is alleviating; and initial attempts of increasing consumer wallet share (by introducing new categories) are encouraging and likely to improve sales density further," said an HDFC report
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Musical chairs in retail: top execs swap companies as competition heats up, growth slows livemint.com / 1 year ago
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