The company’s performance in the second quarter may remain good due to the easing of restrictions
On a year-on-year basis, DMART’s first quarter revenue grew by 31.3 percent to Rs 5032 crore as against Rs 3833 crore in the same quarter last year. The company has started 4 more stores. The second quarter results are due on July 10. On the other hand, due to the easing of restrictions, better performance can be seen in the second quarter.
The brokerages, while giving their opinion on DMart, have said that inflation will increase the attraction for retailers like DMart. On the other hand, Q1 sales stood at Rs 5,030 crore on a sharp recovery. They have increased its EPS estimate for FY23/24 by 4 per cent / 6 per cent. Whereas the company’s position in online delivery improved.
MACQUARIE’s opinion on DMART
MACQUARIE has outperform rating on DMART and has a target of Rs 3700 for the stock.
MS’s opinion on DMART
MS has given overweight rating on DMART and has a target of Rs 3218 for the stock.
JPM’s opinion on DMART
MS has given Underweight rating on DMART and has a target of Rs 2700 for the stock.
CITI’s opinion on DMART
CITI maintains a sell rating on DMART and has a target of Rs 2200 for the stock.
