External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

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Equity Bottom-Up

<ul><li>V-MART Retail: V-MART reported 47% growth YoY.</li><li>Organic business (ex-Unlimited acquisition) recovered fully from the pandemic blues (INR5.74bn).</li><li>The recent stock price correction allows us to upgrade our rating on V-MART to ADD (earlier REDUCE), as risk-reward becomes more palatable.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

V-MART Retail: V-MART reported 47% growth YoY.Organic business (ex-Unlimited acquisition) recovered fully from the pandemic blues (INR5.74bn).The recent stock price correction allows us to upgrade our rating on V-MART to ADD (earlier REDUCE), as risk-reward becomes more palatable.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily: Berger Paints, Apollo Hospitals, Trent, Kansai Nerolac, V-MART Retail,...

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

<p>V-Mart follows a cluster based approach of adding stores within a radius of 50-100 km. This gives it better economies of scales, supply chain efficiencies and better understanding of fashion needs of the specific region...</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

V-Mart follows a cluster based approach of adding stores within a radius of 50-100 km. This gives it better economies of scales, supply chain efficiencies and better understanding of fashion needs of the specific region...Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

V-Mart Ltd: Healthy Liquidity to Support Growth Aspirations

India

V-Mart Retail Limited owns, operates, and franchises a chain of family lifestyle stores in India. The Company operates medium sized hypermarket format retail stores that sell clothes, accessories, and footwear for men, women, and kids; cosmetics, luggage, toys, and games; and food, non-food, and staple items.

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V-Mart Retail (VMART IN)

HSIE Results Daily: Berger Paints, Apollo Hospitals, Trent, Kansai Nerolac, V-MART Retail,...

V-MART Retail: V-MART reported 47% growth YoY. Organic business (ex-Unlimited acquisition) recovered fully from the pandemic blues (INR5.74bn). 2...

HDFC Securities

V-Mart Ltd: Healthy Liquidity to Support Growth Aspirations

V-Mart follows a cluster based approach of adding stores within a radius of 50-100 km. This gives it better economies of scales, supply chain...

ICICI Securities Limited

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