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    Vishal Mega Mart Limited

    Pan-India value-retail chain selling apparel, general merchandise and FMCG to middle and lower-middle income shoppers.

    Consumer Services
    Consumer Discretionary
    View VMM earnings calls
    ₹118.66
    -1.25% from avg

    Overview

    Price

    ₹118.66

    Market Cap

    ₹51.7k Cr

    Sector

    Consumer Services

    Consumer Discretionary

    Rank

    3

    Performance

    Financials

    Income Statement

    Financial Trajectories

    11
    Quarterly

    Balance Sheet

    Balance Sheet

    ₹ Cr · Annual
    Line itemFY20FY21FY22FY23FY24FY25FY26FY26
    LiabilitiesEquity Capital4.4k4.5k4.5k4.5k4.5k4.6k4.7k4.7k
    Reserves-1431053226501.1k1.8k2.2k2.7k
    Borrowings7937701.8k1.5k1.5k1.7k1.9k2.0k
    Other Liabilities2.4k2.5k1.6k1.7k1.4k1.9k2.3k2.0k
    Total Liabilities7.4k7.9k8.2k8.3k8.5k10.0k11.1k11.4k
    AssetsFixed Assets5.7k4.6k5.8k5.9k6.2k6.5k6.7k6.9k
    CWIP2011116938143534
    Investments875474173503879641.1k
    Other Assets1.5k2.7k2.0k2.3k2.3k3.1k3.4k3.4k
    Total Assets7.4k7.9k8.2k8.3k8.5k10.0k11.1k11.4k

    Cash Flow

    Cash Flow

    ₹ Cr · Annual
    Line itemFY20FY21FY22FY23FY24FY25FY26
    ActivitiesCash from Operating5571.1k6576368301.4k1.6k
    Cash from Investing-149-69527177-130-610-988
    Cash from Financing-429-276-710-865-658-479-500
    SummaryCapital Expenditure
    Free Cash Flow3879505004175831.1k1.3k
    FCF Margin

    Valuation

    Assumptions

    Current — VMM
    Price
    ₹119
    EPS (TTM)
    ₹1.91
    PE (TTM)
    62.1
    Profit growth
    32.8%

    The Earnings Per Share over the last 12 months.

    %

    Your assumption of the company's expected yearly EPS growth (e.g., 6 for 6%).

    Pre-filled with the lower of median (80.7×) and current (62.1×) PE — the conservative anchor.

    %

    The annualized return you aim to achieve. We solve for the price that delivers it, then compare to today's price.

    Valuation

    Current price
    ₹119
    vs
    Fair value · 15% return
    ₹233
    96%Undervalued

    At 32.8% growth and a 62× exit, ₹119 only delivers your return if you pay ₹233. The price is currently baking in 18% growth.

    EPS grows 32.8%/yr for 5 years, then fades to 6% over 2, exits at 62×.

    YearGrowthEPS (₹)
    FY2732.8%2.54
    FY2832.8%3.37
    FY2932.8%4.47
    FY3032.8%5.94
    FY3132.8%7.89
    FY3219.4% ·fade9.42
    FY336.0% ·fade9.98

    Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.

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