Avenue Supermarts Analyst Meet Update - Growth Blocks In Place: Prabhudas Lilladher
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Prabhudas Lilladher Report
We retain our positive stance on Avenue Supermarts Ltd. post annual analyst Interaction given huge growth runway at 5.5 times than existing stores and rising scale in DMart Ready.
We believe that DMart model is maturing with significant operating leverage and capacity to cut costs, balance sheet strength to invest in real estate/build stores and sustained 'everyday low prices' in a highly consolidated but nascent modern trade in food and grocery.
We remain positive on DMart Ready and expect it to post sales of Rs 15-20 billion by FY23, which should provide scale and mark a move towards being profitable in future.
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