BSE: 544307 | NSE: VMM | Retailing |
Past 10 year's financial track record analysis by Moneyworks4me indicates that Vishal Mega Mart Ltd is a average quality company.
The key valuation ratios of Vishal Mega Mart Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Vishal Mega Mart Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 1.6% | 6.6% | 7.6% | 9.1% | 11.6% | 14.5% | - |
| Value Creation Index ⓘ | -0.9 | -0.4 | -0.3 | -0.2 | 0.0 | 0.3 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||
| Sales ⓘ | 1,111 | 5,292 | 4,452 | 5,589 | 7,586 | 8,912 | 8,912 |
| Sales YoY Gr. | - | 376.4% | -15.9% | 25.5% | 35.7% | 17.5% | - |
| Adj EPS ⓘ | 0.1 | 0.1 | 0.3 | 0.4 | 0.7 | 1 | 1 |
| YoY Gr. | - | 80% | 200% | 63% | 56.8% | 44.9% | - |
| BVPS (₹) ⓘ | 10.1 | 9.6 | 10.2 | 10.6 | 11.3 | 12.4 | 27.8 |
| Adj Net Profit ⓘ | 19.6 | 38.4 | 119 | 198 | 312 | 452 | 460 |
| Cash Flow from Ops. ⓘ | -207 | 557 | 1,054 | 657 | 636 | 830 | - |
| Debt/CF from Ops. ⓘ | -4 | 1.4 | 0.7 | 0.8 | 0.2 | 0 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | 51.7% | 26% | 17.5% | ||||
| Adj EPS ⓘ | NA | 82.1% | 54.7% | 44.9% | ||||
| BVPSⓘ | NA | 4.2% | 6.8% | 9% | ||||
| Share Price | - | - | - | - | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 0.5 | 0.9 | 2.7 | 4.2 | 6.3 | 8.4 | 5.1 |
| Op. Profit Mgn % ⓘ | 10.1 | 12.4 | 14.1 | 14.8 | 13.8 | 14.3 | NAN |
| Net Profit Mgn % ⓘ | 1.8 | 0.7 | 2.7 | 3.6 | 4.1 | 5.1 | 5.2 |
| Debt to Equity ⓘ | 0.2 | 0.2 | 0.2 | 0.1 | 0 | 0 | - |
| Working Cap Days ⓘ | 0 | 98 | 157 | 135 | 91 | 85 | 0 |
| Cash Conv. Cycle ⓘ | 0 | 20 | -23 | -23 | -11 | -1 | 0 |
Sales growth is growing at healthy rate in last 3 years 26.03%
Net Profit is growing at healthy rate in last 3 years 54.72%
Return on Equity has declined versus last 3 years average to 5.10%
Sales growth is not so good in last 4 quarters at 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 0.7 | 1 |
| TTM Sales (₹ Cr.) | 6,239 | 8,912 |
| BVPS (₹.) ⓘ | 27.7 | 27.8 |
| Reserves (₹ Cr.) ⓘ | 7,990 | 8,037 |
| P/BV ⓘ | 3.65 | 3.63 |
| PE ⓘ | 143.42 | 99.00 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 97.61 / 115.60 |
| All Time Low / High (₹) | 104.16 / 115.60 |
| Market Cap (₹ Cr.) | 45,588 |
| Equity (₹ Cr.) | 4,508.7 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 97.3 |
| Pledged * | 0.00 |
| PARTICULARS | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|
| Sales | 1,111 | 5,292 | 4,452 | 5,589 | 7,586 | 8,912 |
| Operating Expenses ⓘ | 999 | 4,635 | 3,827 | 4,766 | 6,542 | 7,637 |
| Manufacturing Costs | 27 | 180 | 171 | 257 | 367 | 432 |
| Material Costs | 902 | 3,835 | 3,226 | 4,015 | 5,526 | 6,446 |
| Employee Cost | 29 | 344 | 297 | 338 | 432 | 505 |
| Other Costs ⓘ | 41 | 276 | 134 | 157 | 217 | 254 |
| Operating Profit ⓘ | 112 | 657 | 625 | 822 | 1,044 | 1,275 |
| Operating Profit Margin (%) | 10.1% | 12.4% | 14.0% | 14.7% | 13.8% | 14.3% |
| Other Income ⓘ | 5 | 20 | 116 | 65 | 33 | 33 |
| Interest ⓘ | 42 | 236 | 232 | 213 | 185 | 170 |
| Depreciation ⓘ | 32 | 340 | 346 | 406 | 461 | 517 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 43 | 101 | 163 | 270 | 431 | 621 |
| Tax ⓘ | 21 | 56 | 45 | 67 | 109 | 159 |
| Profit After Tax | 22 | 45 | 119 | 203 | 321 | 462 |
| PAT Margin (%) | 2.0% | 0.9% | 2.7% | 3.6% | 4.2% | 5.2% |
| Adjusted EPS (₹) | 0.1 | 0.1 | 0.3 | 0.5 | 0.7 | 1.0 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 4,364 | 4,203 | 4,554 | 4,784 | 5,109 | 5,571 | ||||
| Share Capital ⓘ | 4,342 | 4,366 | 4,484 | 4,503 | 4,507 | 4,509 | ||||
| Reserves ⓘ | 22 | -162 | 70 | 280 | 602 | 1,062 | ||||
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Debt | 830 | 769 | 706 | 404 | 92 | 0 | ||||
| Long Term Debt | 792 | 768 | 706 | 404 | 92 | 0 | ||||
| Short Term Debt | 38 | 1 | 0 | 0 | 0 | 0 | ||||
| Trade Payables | 709 | 1,068 | 1,276 | 1,461 | 1,501 | 1,220 | ||||
| Others Liabilities ⓘ | 143 | 1,352 | 1,193 | 1,540 | 1,509 | 1,675 | ||||
| Total Liabilities ⓘ | 6,045 | 7,392 | 7,728 | 8,188 | 8,210 | 8,466 | ||||
Fixed Assets | ||||||||||
| Gross Block | 4,573 | 6,290 | 5,031 | 7,028 | 7,558 | 8,343 | ||||
| Accumulated Depreciation | 122 | 554 | 388 | 1,226 | 1,665 | 2,160 | ||||
| Net Fixed Assetsⓘ | 4,451 | 5,736 | 4,643 | 5,802 | 5,893 | 6,183 | ||||
| CWIP ⓘ | 17 | 20 | 11 | 11 | 69 | 38 | ||||
| Investmentsⓘ | 115 | 87 | 547 | 417 | 35 | 0 | ||||
| Inventories | 167 | 1,112 | 970 | 1,216 | 1,491 | 1,465 | ||||
| Trade Receivables | 1,190 | 3 | 3 | 2 | 4 | 32 | ||||
| Cash Equivalents | 41 | 115 | 123 | 216 | 169 | 119 | ||||
| Others Assetsⓘ | 63 | 319 | 1,431 | 523 | 550 | 629 | ||||
| Total Assets ⓘ | 6,045 | 7,392 | 7,728 | 8,188 | 8,210 | 8,466 | ||||
| PARTICULARS | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -207 | 557 | 1,054 | 657 | 636 | 830 |
| PBT ⓘ | 43 | 101 | 163 | 270 | 431 | 621 |
| Adjustment ⓘ | 73 | 558 | 557 | 581 | 595 | 627 |
| Changes in Working Capital ⓘ | -292 | -41 | 358 | -124 | -266 | -268 |
| Tax Paid ⓘ | -30 | -61 | -24 | -70 | -124 | -150 |
| Cash Flow From Investing Activity ⓘ | -5,245 | -149 | -695 | 27 | 177 | -130 |
| Capex | -130 | -170 | -552 | -157 | -219 | -246 |
| Net Investments | 0 | 0 | -79 | 180 | 391 | 109 |
| Others ⓘ | -5,115 | 21 | -64 | 5 | 5 | 8 |
| Cash Flow From Financing Activityⓘ | 5,435 | -429 | -276 | -710 | -865 | -658 |
| Net Proceeds from Shares ⓘ | 4,605 | 24 | 182 | 23 | 4 | 2 |
| Net Proceeds from Borrowing ⓘ | 830 | -37 | -1 | 0 | -364 | -133 |
| Interest Paid ⓘ | 0 | -154 | -105 | -194 | -161 | -144 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | -262 | -352 | -540 | -343 | -383 |
| Net Cash Flow ⓘ | -17 | -22 | 84 | -26 | -52 | 41 |
| PARTICULARS | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 0.5 | 1.06 | 2.71 | 4.24 | 6.5 | 8.65 | ||||
| ROCE (%) | 1.63 | 6.61 | 7.62 | 9.06 | 11.6 | 14.49 | ||||
| Asset Turnover Ratio | 0.18 | 0.79 | 0.59 | 0.68 | 0.93 | 1.07 | ||||
| PAT to CFO Conversion(x) | -9.41 | 12.38 | 8.86 | 3.24 | 1.98 | 1.8 | Working Capital Days | |||
| Receivable Days | 391 | 41 | 0 | 0 | 0 | 1 | ||||
| Inventory Days | 55 | 44 | 85 | 79 | 65 | 61 | ||||
| Payable Days | 287 | 85 | 133 | 133 | 98 | 77 | ||||
Vishal Mega Mart Limited was originally incorporated as ‘Rishanth Wholesale Trading Private Limited’ at Gurugram as a private limited company under the Companies Act, 2013, pursuant to a certificate of incorporation dated March 27, 2018, issued by the RoC. Subsequently, the name ‘Rishanth Wholesale Trading Private Limited’ was changed to ‘Vishal Mega Mart Private Limited’ and a fresh certificate of incorporation was issued by the RoC on May 28, 2020. Subsequently, the company was converted to a public limited company and the name of the company changed to ‘Vishal Mega Mart Limited’ pursuant to a Shareholders’ resolution dated April 26, 2024 and a fresh certificate of incorporation dated May 10, 2024 was issued by the RoC.
The company is a one-stop destination for middle and lower-middle income India. It curates a diverse range of merchandize through its portfolio of own brands and third-party brands to fulfil the aspirational and daily needs of consumers. It offers products across three major product categories, i.e., apparel, general merchandise, and fast-moving consumer goods, through a pan-India network of many Vishal Mega Mart stores and its Vishal Mega Mart mobile application and website. The aspirational retail market in India, driven by the consumer desire for products that offer both high quality and affordability, will remain a significant contributor to India’s retail market.
Its diversified product portfolio spans across three product categories. Products sold under its own brands are manufactured by third-party contract manufacturers engaged by the company. These products are, in turn, supplied by the company to its material subsidiary, Airplaza Retail Holdings, as well as its other franchisees under a contractual arrangement. Moreover, third-party brand products procured by its material subsidiary directly from such brands (together with the products procured from the company under its own brands) are either sold in Vishal Mega Mart stores leased and operated by its material subsidiary or other franchisees of the company. Its material subsidiary also owns and operates the Vishal Mega Mart website and mobile application.
Business area of the company
The company and its subsidiaries are in the wholesale and retail business of trading of apparels, fast moving consumer goods and general merchandise.
Product categories of the company
History and milestones
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