Phillip Capital initiates India's Vishal Mega Mart with 'buy'

Vishal Mega Mart

20/04/2026 07:18

** Phillip Capital initiates Vishal Mega Mart VSSL.NS with "buy", PT of 142 rupees

** Brokerage says budget retailer's revenue mix is well-balanced across apparel, general merchandise and FMCG, helping sustain footfalls year-round

** Notes co's own brand contributes to about 73% to 74% of revenue, enabling sharp value propositioning at scale

** Sees 13% CAGR in store growth over FY25-28; expects revenue and PAT to grow at a CAGR of 18% and 24%, respectively, over FY25-28

** Stock rated "buy" on average by 16 analysts; median PT at 160.5 rupees - data compiled by LSEG

** Shares of VSSL down 0.3% at 118.6 rupees; YTD down 13%

(Reporting by Mridula Kumar in Bengaluru)

((Mridula.Kumar@thomsonreuters.com;))