Motilal Oswal Recommends V Mart Retail: Buy Call, INR 1040 Target

• Motilal Oswal reiterates 'BUY' rating on V Mart Retail with a revised target price of INR 1,040.
• Growth driven by rising disposable incomes in rural India, shift to organized retail, and preference for one-stop shops in tier 2+ towns.
• Expects ~18% revenue CAGR (FY25-28) from consistent store additions and mid-single-digit SSSG.
• Projects ~290bp EBITDA margin expansion to ~7.2% by FY28 due to reduced LimeRoad losses and cost efficiency.
• V-Mart is a top pick in the retail sector for 2026, trading at a modest ~19x FY27 pre-INDAS EV/EBITDA.

Why It Matters: Motilal Oswal recommends buying V Mart Retail with a target of INR 1040, citing strong growth potential.