Shares of retail chain operator V-Mart Retail jumped as much 4.77 per cent to hit a fresh 52-week high of Rs 3,030.25 per share on Wednesday
V-Mart stock rises: Shares of retail chain operator V-Mart Retail jumped as much 4.77 per cent to hit a fresh 52-week high of Rs 3,030.25 per share on Wednesday, July 03.
The surge in the share price came after the company revealed a strong set of June quarter (Q1FY25) business updates.
In Q1FY25, the total revenue from operations, including V-Mart and Lime Road, grew 16 per cent to Rs 786 crore, as opposed to Rs 678 crore in the same quarter a year ago (Q1FY24).
During the same period, V-Mart’s revenue grew 17 per cent to Rs 774 crore, as compared to taveRs 661 crore in the same quarter last year (Q1FY24).
However, for LimeRoad, the revenue dropped 29 per cent on a year-on-year (Y-o-Y) basis to Rs 12 crore, from Rs 17 crore in the same quarter a year ago.
“Income from LimeRoad digital marketplace of Rs 12 crore represents the commission income charged from sellers on the Net Merchandising Value (NMV) of Rs 29 crore,” V-Mart said in a statement.
The same store sales growth (SSSG) stood at 11 per cent for the quarter (V-Mart at 12 per cent and Unlimited at 8 per cent).
Store addition
The company has opened 7 new stores (5 under V-Mart and 2 under Unlimited) and closed 3 stores during the quarter.
More From This Section
The 7 new stores include two stores in Bihar, one store each in Gujarat, Tripura, Uttar Pradesh, Andhra Pradesh and Tamil Nadu.
The 3 closed stores include two stores in Karnataka and one store in Telangana.
Therefore, the total number of stores now stands at 448 as at June 30, 2024, which included 370 V-Mart stores and 78 Unlimited stores.
V-Mart Retail Limited, an Indian retail company that runs a network of small-size hypermarkets, was founded by Lalit Agarwal in 2002. It was originally established as Varin Commercial Private Limited in West Bengal, India.
The company positions itself as a value retail chain, offering affordable fashion and lifestyle products to customers in smaller Indian cities and towns. It targets middle and lower-income groups with its range of apparel, footwear, accessories, and home products.
The company has a strong presence in North and Central India, with stores in states like Uttar Pradesh, Bihar, Jharkhand, Punjab, and Madhya Pradesh. Its strategy focuses on penetrating into underserved markets where competition from other organised retail chains is relatively low.
V-Mart stores typically stock a wide variety of products catering to different age groups and demographics. This includes casual and ethnic wear for men, women, and children, along with accessories and household items.
The market capitalisation of this SmallCap company is Rs 5,926.14 crore, according to Bombay Stock Exchange (BSE).
At 11:42 AM, shares of V-Mart were trading 3.89 per cent higher at Rs 3,004.60 per share. By comparison, BSE Sensex was trading 0.56 per cent higher at 79,883.21 levels.