Systematix raises V-Mart target to Rs 902 after inline Q1, citing store growth
Systematix retained its Buy rating on V-Mart Retail and lifted its target price from Rs 882 to Rs 902. The retailer opened 15 stores and closed one in the June quarter, taking its network to 591 stores across V-Mart and Unlimited.
Systematix retained its Buy rating on V-Mart and raised its target price after inline Q1 operations. Growth was supported by 15 net-new-store additions, improved productivity and traction across V-Mart and Unlimited; the retailer now operates 591 stores.
Why this matters
The target upgrade follows a recent signal that V-Mart Q1 revenue rose 23% to Rs 1,089 crore and profit increased 40.5%, after the retailer had been flagged among companies scheduled to report Q1FY25 earnings.
Retail-company signals are accelerating, up 387033% QoQ.