ICICI Securities: V-Mart - Best Play In Value Fashion Segment
Women’s clothes are displayed on mannequins at a hypermarket in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)  

ICICI Securities: V-Mart - Best Play In Value Fashion Segment

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

V-Mart Retail Ltd. (value fashion retailer) is well positioned to capture growth opportunities in tier two-four cities with aggressive store openings and first-mover advantage.

It has already built a successful and highly profitable business model.

However, near term focus would be on preserving cash through cost reduction, rationalising capex and optimising working capital.

Rising competition, increasing share of new stores versus matured stores, and investment in supply chain will keep margin range-bound and return ratios steady.

We like the company’s revenue growth potential, timely execution and best-in-class return ratios.

Click on the attachment to read the full report:

ICICI Securities VMART Retail Initiating Coverage.pdf

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