ICICI Securities gives Vishal Mega Mart buy rating, target ₹150
ICICI Securities just gave Vishal Mega Mart a buy rating and set a target price of ₹150.
The retail chain impressed with 14% revenue growth and a 5.4% jump in same-store sales for Q2FY27, even with higher costs and tricky festive timing.
By keeping prices steady on essentials and growing its market share, Vishal Mega Mart managed to stay ahead of the game.
Vishal Mega Mart expansion and loyalty
Vishal is expanding in smaller cities, with its own brands now making up 73% of sales.
Its sticky loyalty base has about 181 million members, contributing roughly 95% of sales.
The company also sees potential for over 3,000 large-format stores.
On the money side: net profit rose 3.7% year-on-year this quarter, while revenue grew 14% year-on-year.
Even with slight margin changes, analysts are still optimistic about where the stock is headed next.