External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

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External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Resilient Performance: V-Mart reported resilient performance in Q4FY26, with revenue growing 24.5% YoY to Rs 971 Cr, driven by 12% same-store sales growth (SSSG), healthy demand in Tier 2/3 markets, strong wedding and summer season traction, and continued store expansion.</li><li>The Unlimited segment witnessed strong growth in South India and remained a key growth driver with 28% revenue growth.</li><li>Margin Performance: EBITDA grew 56% YoY with EBITDA margin expanding 221 bps to 10.9%, supported by lower discounting, better inventory productivity, tighter cost control, and reduced Lime Road losses. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Resilient Performance: V-Mart reported resilient performance in Q4FY26, with revenue growing 24.5% YoY to Rs 971 Cr, driven by 12% same-store sales growth (SSSG), healthy demand in Tier 2/3 markets, strong wedding and summer season traction, and continued store expansion.The Unlimited segment witnessed strong growth in South India and remained a key growth driver with 28% revenue growth.Margin Performance: EBITDA grew 56% YoY with EBITDA margin expanding 221 bps to 10.9%, supported by lower discounting, better inventory productivity, tighter cost control, and reduced Lime Road losses. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

V-Mart Retail Ltd - Growth Story Remains Intact; Maintain BUY