V-Mart Retail - Pent Up Demand, Festive Season Influenced Q4: Centrum Broking
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Centrum Broking Report
On expected lines, V-Mart Retail Ltd. reported improved Q4 FY21, with revenue/ Ebitda growing 5.8%/20.5%, yet adjusted profit after tax lowered with loss of Rs 15 million.
Management alluded, its core rural markets saw better agri-incomes drawing enhanced consumer sentiments, coupled with festive season, marriages saw demand near normalcy.
Despite lower footfalls (down 12.2%), it saw rise in transaction size (up 7.7%) with robust conversion rates at 61.1%.
To offset rising cotton prices, it took 8% price increases in Q4.
Further, tight cost control measures resulted in 130 basis points swing in gross margins and 120 basis points in Ebitda margins to 9.5%, despite higher other expenses (up 17.9%).
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