V-Mart Expects Low Double-Digit Sales Growth In FY25: Chairman Lalit Agarwal

V-Mart Retail Ltd. is expecting low double-digit sales growth in the next financial year while it aims to consolidate its operations and improve store efficiency, according to Founder Chairman Lalit Agarwal.

“This year, we are also consolidating. We are trying to take action on stores that are not performing well. We are taking a call and will try to replace such stores,” said Agarwal, managing director at V-Mart. “So, we may not see a net high number (of stores), but we will definitely add on more than 25–30 stores in FY25.”

Given the focus on improving efficiency and profitability through consolidation, V-Mart is not eyeing any acquisitions in FY25, he said.

The company's focus will be on omnifying and integrating LimeRoad, its online marketplace, by merging both offline and online businesses to cater to the demands of customers shopping both offline and online, Agarwal said.

“We are trying to build a profitable growth model and not a pure growth model for LimeRoad and are trying to solve long-term scalability issues through the marketplace,” he said. The company is also trying to attract customers who are more aligned with digital commerce, which is largely youth, he said.

The founder of V-Mart expects robust growth in Tier-3 cities this year, even as its focus continues on the base model.

Shares of V-Mart Retail were trading 0.12% higher at Rs 1,914.70 apiece, compared with a 0.99% gain in the benchmark Nifty as of 10:30 a.m.

Of the 19 analysts tracking the company, 10 maintain a 'buy', seven recommend a 'hold,' and two suggest a 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 28.8%