Retail Sector Q4 Earnings Preview - Healthy Recovery: Dolat Capital
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Dolat Capital Report
After a healthy bounce back in Q3 FY21, we expect Q4 FY21 to largely continue the momentum with further improvement in revenue growth trajectory.
We estimate a same-store-sales-growth to be flat for Avenue Supermarts Ltd. and ~6% for V-Mart Retail Ltd.
Overall revenues to increase by 12.7% for DMart led by store (area) expansion and 12.9% for V-Mart led by ~6% store area expansion.
Management commentary on -
1. demand trends especially impact if any on account of localized lockdowns,night curfews etc.
2. guidance on store expansion,
3. price increases on account of increase in input costs (cotton/yarn prices especially for V-Mart) are key things to watchout for.
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