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Motilal Oswal Report
Despite potential near-term concerns, domestic brokerage firm Motilal Oswal remains structurally positive on value fashion retailers and reiterates its Buy rating on V-Mart Retail and Vishal Mega Mart with a target price of Rs 975 and Rs 165 respectively, given their robust growth outlook of high teens revenue compound annual growth rate over FY26-29 and improving profitability.
The brokerage also highlighted that value fashion retailers sustained their outperformance vs premium and branded apparel retailers. This outperformance was underpinned by structural tailwinds, such as
- rising aspirations in tier 2/3/4 cities,
- an accelerating shift from unorganised to organised channels,
- deeper private label penetration driving assortment depth, and
- aggressive network expansion.
Moitlal Oswal remains bullish on the growth prospects of value fashion retailers, driven by the massive opportunity from the unorganised-to-organised shift and rising preference for one-stop family shopping in tier 2 and beyond cities.
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