BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Centrum Broking Report
Avenue Supermarts Ltd., one of the largest grocery retailers in India, has all the ingredients for it to be a long term success story. Under-penetrated market, well targeted customer base, patience capital and sharp execution would allow D-Mart to grow its top line at compound annual growth rate of 20% plus over next ten years.
We expect D-Mart to open ~40 stores per year over FY22-24 and like-to-like, to grow at CAGR 23% over FY20-24E. Though we remain bullish on the company’s secular growth story we believe that current valuations have outpaced the near term growth expectations.
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