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Retail Sector Q4 Earnings Preview


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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.

Click on the attachment to read the full report:

Dolat Capital Retail Sector Q4 Results Preview.pdf


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