V-Mart Retail Q4 Business Update - Inline With Expectation; Limeroad A Worry: Nirmal Bang

<div class="paragraphs"><p>A V-Mart Retail Ltd.'s store in Bengaluru. (Source: Company's official Facebook page)</p></div>
A V-Mart Retail Ltd.'s store in Bengaluru. (Source: Company's official Facebook page)

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Nirmal Bang Report

V-Mart Retail Ltd. preannounced Q4 FY24 quarterly revenue yesterday post market hours.

Q4 is usually a seasonally weaker quarter QoQ due to the festive, winter and wedding seasons all coming together in Q3 each year.

Total revenue for the quarter at Rs 6.68 billion (up 12% YoY) was broadly in line with what we had estimated at the end of Q3 FY24 (Result Update). 

The retail business (ex-Limeroad) delivered revenue of Rs 6.53 billion. The 12% YoY retail revenue growth has come from store expansion of 5% YoY and same store sales growth of +6% (V-Mart at +4% and Unlimited at +13%).

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Nirmal Bang V-Mart-Retail Business-Update.pdf
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