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Featured | 17 December 2012

Portfolio Focus: Aditya Birla PE Investee V Mart Retail

by Sushil Surana
Portfolio Focus: Aditya Birla PE Investee V Mart Retail
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Aditya Birla PE through its unit Naman Finance and Investment invested around R50 Cr in medium size hypermarket operator V Mart Retail Limited in 2008.

The funds were raised to increase the store count and strengthen the presence in the existing cities.

With this investment MD and CEO Bharat Banka of Aditya Birla PE joined the board of V Mart Retail.

Since then, V mart has been a beneficiary of other group companies of Aditya Birla Group like Madura Garments, Birla Sun Life, etc.

The PE contributed by re-strategizing the expansion plan; sourcing products via Aditya Birla Group firms; helping negotiate rent and reduce inventory to cut costs.

Banka suggested a clustered approach of increasing store presence within existing states instead of spreading wings across all regions and states curtailing the over aggressiveness.

Today, the company manages 59 stores across 10 states as against 22 stores across 8 states


( Rs.Mn) 2012 2011 2010
Sales 2819.54 2147.98 1441.56
EBITDA 283.06 193.98 118.53
PAT 106.12 62.65 23.26
Share Capital 73.41 73.41 68.53
Reserves 468.73 366.04 306.82
Total Debt 407.12 381.99 293.56

V Mart is also planning to go public by raising R120 Cr and had filed DRHP in July this year. The funds will be used for expansion strategy, under which it will almost double its showrooms to 120 outlets by 2015.

Currently, the promoters hold 77% stake in the company and the rest is with Naman Finance. Post IPO, promoters will have around 58% holding, while Naman will be having 10%.

To Read More.

If the company successfully raises the funds than Aditya Birla PE will able to sell their shares at more than R200 per share realizing a profit of R40 on each share.

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