Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

V-Mart reports 16% revenue growth and 61% increase in EBITDA y-o-y in FY20

Posted On: 2020-05-29 22:27:37


V-Mart Retail, India's leading value fashion retailer that has presence across 19 states and 191 towns, announced its audited financial results for the quarter and full year ended 31st Mar, 2020. The results were approved by the Company's Board of Directors in its first-ever meeting conducted virtually on 29th May, 2020.

The Company reported full-year income of Rs. 1,667 Cr, growing 16% y-o-y, from Rs. 1,440 Cr in the last fiscal. Income for the fourth quarter stood at Rs. 333 Cr, de-growing by 4% y-o-y due to the drastic impact of Covid-19 pandemic on consumer sentiment and footfalls, which witnessed a sharp dip starting just before Holi in March. The Company had a noteworthy performance during most of FY20 and, Q4 in particular saw revenue growth of 29%, LTL growth of 8% and EBITDA growth of 60% till 15th March. However, the second half of March witnessed near-total store shutdown, as mandated by the government to contain Covid-19 infection leading to significant decline in the revenues. Same Store Sales Growth (SSSG) for the full year came in at (-2.3%), down from +3.7% last year.

The full-year EBITDA, suitably adjusted for IndAS-116, was Rs. 214 Cr, up 61% y-o-y. For the quarter, IndAS-adjusted EBITDA stood at Rs. 28 Cr, growing 57% y-o-y. Faced with a constrained operating environment during the year, the Company maintained a sharp focus on defending margins by improving productivity, cost savings, and efficiency enhancement initiatives. PAT for the year stood at Rs. 49 Cr, registering a drop of 20% y-o-y, as a result of an adverse IndAS adjustment of Rs. 31 Cr.

Marking a new milestone in its retail footprint expansion, the Company opened 55 new stores in FY20 (9 in Q4), its highest-ever tally in a single year, taking the total store count to 266. This surpassed yet another highest-ever achievement of 44 stores added last year, growing the total retail area by 23% y-o-y to 2.2 mn sq ft at FY20-end. While the new store additions focused on penetrating deeper and wider in existing clusters, the Company also ventured into two new states, Arunachal Pradesh and Nagaland, both in the North East.

Commenting on the Company's performance, Mr. Lalit Agarwal, CMD, said, "V-Mart has delivered consistent and profitable growth over the years while sustaining stakeholders in the entire ecosystem. At a time when due to Corona pandemic, the retail sector is facing a threat to its survival, we are going even closer to our customers, vendors, local communities and other stakeholders. As 'Living with less' becomes a necessity in these times of financial hardship, V-Mart is focusing on innovative and newer ways of creating more value for all its stakeholders. We believe this will earn us even more trust and goodwill."

Shares of V-MART RETAIL LTD. was last trading in BSE at Rs.1589 as compared to the previous close of Rs. 1598.8. The total number of shares traded during the day was 1371 in over 201 trades.

The stock hit an intraday high of Rs. 1606.05 and intraday low of 1571.9. The net turnover during the day was Rs. 2188996.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

HDFC ERGO Launches Corona Kavach Policy

Karnataka Bank reports earnings for Q1FY21

Gujarat Narmada Valley Fertilizers and Chemicals Ltd Board recommends Dividend of Rs. 5 for FY20

IRB Infra enters Eastern India territory

ITC Ltd board to announce Q1FY21 results on July 24, 2020

Manappuram Finance Ltd raises Rs. 178 crore through NCDs

BASF India Limited approves acquisition of BASF Performance Polyamides

Goa Carbon Ltd resumes operations at Goa plant from July 9, 2020

IRCTC board recommends final dividend of Rs. 2.50 for FY20

Ircon International Limited board recommends final dividend of Rs. 2.06

Rajapalayam Mills Ltd board to consider 1st quarter results on Aug 12, 2020

G N A Axles Ltd board to approve Q1FY21 results on July 17, 2020

Crompton Greaves Consumer Electricals Ltd board to announce 1QFY21 results on July 24, 2020

Modern Insulators Limited approves formation JV with Sikka Engineering Company for Railway EPC tender

SAIL Q4 consolidated PAT soars to Rs. 2647.52 crore

GNFC Q4 consolidated PAT jumps to Rs. 240.01 crore

Standard Surfactants Ltd reports Rs. 0.0258 crore loss in Q4FY2020

Future Consumer Ltd posts loss of Rs. 175.33 crore in Q4 FY2020

Meera Industries Ltd H2 loss at Rs. 1.10 crore

Somi Conveyor Beltings Ltd Q4 PAT jumps to Rs. 1.61 crore

IRCTC reports Rs. 150.60 crore PAT in Q4 FY2020

IRCON International Ltd reports consolidated Q4FY20 PAT of Rs. 115.40 crore

Euro Leder Fashion Ltd posts loss of Rs. 0.09 crore in Q4 FY20

Sangal Papers Ltd Q4 PAT at Rs. 0.46 crore

Nitin Castings Ltd Q4FY20 loss at Rs. 0.44 crore

Vardhman Polytex Ltd reports surge in Q4FY20 consolidated net profit to Rs. 161.58 crore

Lakshmi Vilas Bank Ltd Q4 net profit at Rs. 92.86 crore

Kanco Tea & Industries Ltd posts consolidated loss of Rs. 11.31 crore in Q4 FY20

Savita Oil Technologies Ltd Q4 FY20 net profit slips to Rs. 20.60 crore

Karnataka Bank Ltd Q1FY21 PAT surges to Rs. 196.38 crore

Unichem Laboratories Ltd receives ANDA approval for Baclofen Tablets

Vishal Fabrics Ltd Q4 PAT at Rs. 5.12 crore

Marico Ltd board to announce Q1FY21 results on July 27, 2020

GAIL to invest in Start-Ups operating in the area of Compressed Bio Gas, Solicitation Round open tm July 24, 2020

Tata Motors Group global wholesales at 91,594 in Q1 FY21

YES Bank Ltd board approves floor price of Rs. 12 for FPO

Newgen Software Technologies Ltd board to consider 1st quarter results on July 22, 2020

ICRA reaffirms rating of Puravankara Limited

NATCO settles on Lenalidomide for Canada

IndusInd Bank launches redesigned website to enhance customer experience

Muthoot M George Foundation launches Muthoot Vivahasammanam

Relaxo Foundation salutes the Unsung Warriors by contributing 25000 pairs of slippers to MCD sanitation workers

ITC Ltd.'s Sunfeast YiPPee! created a digital mosaic with pictures of Dhoni fans on the occasion of Dhoni's birthday

TRENT Ltd board to approve 1st quarter results on Aug 5, 2020

ITC Ltd forms subsidiary ITC IndiVision Limited

Celent Recognizes Majesco with XCelent Award for Depth of Service in the North American Policy Administration Systems 2020 Personal, Commercial and Specialty ABCD Vendor View Report

Sadbhav Engineering Ltd reports Rs. 886.63 crore PAT in Q4 FY20

NLC India Ltd's project in Andaman commissioned

Swarnsarita Gems Ltd Q4 consolidated PAT at Rs. 0.26 crore

PNB Housing Finance Ltd reworks business plan for FY2020-21







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019