V-Mart Retail sees robust growth despite setbacks
In an interview with CNBC-TV18, Anand Agarwal, CFO of V-Mart Retail, medium sized hypermarkets, said that the chain of stores expects robust growth despite setbacks.
V-Mart Retail, with a strong focus on same-store sales growth and a positive outlook for the LimeRoad business, is poised for continued success in the retail industry. Excluding the Q4FY23 net loss of Rs 37 crore, the company said it financials are strong and continuing to grow.
In an interview with CNBC-TV18, Anand Agarwal, CFO of medium-sized hypermarkets, said that the chain of stores expects robust growth despite setbacks.
He said, “We anticipated this loss; in fact, in the last quarter we had guided that there will be some margin impact because of the integration of an online marketplace business that we have recently acquired. But excluding this loss the numbers look strong and are growing year on year.”
One key metric Agarwal highlighted was the same-store sales growth, which he believes will see a positive trajectory going forward. He stated that they anticipate a 5 percent growth in same-store sales, indicating the company's ability to attract and retain customers.
V-Mart Retail has set an ambitious target for FY24. Agarwal expressed their goal of achieving high single-digit growth in same-store sales, demonstrating the company's confidence in its ability to drive sustainable expansion and profitability.
Agarwal also touched upon V-Mart Retail's LimeRoad business, expressing optimism about its prospects. He projected that the LimeRoad business would be breakeven by the end of FY24, indicating their focus on achieving profitability for this segment of their operations.
While talking about mergers and acquisitions, he made it clear that V-Mart Retail does not envision any further acquisitions in the near term. This statement suggests that the company is content with its current portfolio and is focusing on optimizing existing operations rather than expanding through mergers and acquisitions.
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