External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only.  Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>V-Mart Q2FY23 Sales and EBITDA were ahead of our estimates.</li><li>Revenue stood at Rs 506 Cr, up 50% YoY (61% growth over pre-Covid levels; 10% SSSG in Q2FY23).</li><li>The company posted an EBITDA of Rs 54 Cr while EBITDA margins inched up by 450bps YoY to 10.6% in Q2FY23.</li></ul><p><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></p>

V-Mart Q2FY23 Sales and EBITDA were ahead of our estimates.Revenue stood at Rs 506 Cr, up 50% YoY (61% growth over pre-Covid levels; 10% SSSG in Q2FY23).The company posted an EBITDA of Rs 54 Cr while EBITDA margins inched up by 450bps YoY to 10.6% in Q2FY23.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 - Long-Term Growth Levers Intact; Maintain BUY

V-Mart Retail

V-Mart Ltd - Long-Term Growth Levers Intact; Maintain BUY