Avenue Supermarts: Strong Performance; Rich Valuations Limit Upside
Robust store operating metrics (breakeven in 18-24 months of its operations and one of industry best revenue per sq ft: Rs 32000+) Q2FY22 Results:...
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Avenue Supermarts: Priced to Perfection; Downgrade to Sell
We revise our estimates leading to an upward revision in our target price to Rs 3,600/share (prev Rs 3,110) valuing at 45x FY24E EV/EBITDA. We...
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HSIE Results Daily: Avenue Supermarts
We maintain our SELL recommendation on DMART with a revised DCF-based TP of INR 2,700/sh (earlier 2,260/sh), implying 35x Dec-23E for the...
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Avenue Supermarts: Sharp Revenue Recovery Post Easing of Restrictions
D-Mart has progressively enhanced its return ratios (RoIC: 20%+) despite being capital intensive (follows ownership model)
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Gross margin disappoints amid a steady revenue recovery
The revenue recovery in DMART has been much better than that during the previous lockdown, growing 33% YoY (13% below pre-COVID levels). Gross...
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