Investec initiates 'Buy' on Vishal Mega Mart, sees 21% upside on double-engine growth

Brokerage starts coverage with Rs 144 target (CMP Rs 118.90), citing 795-store footprint, 74% private-label mix, and 10% SSSG. Projects 18% revenue and 21% EPS CAGR over FY26-29, anchored by 13% annual store additions in tier-2/3 value retail.

— Source publishedTue, 23 Jun, 2026, 08:38 IST·First seen Tue, 23 Jun, 2026, 10:00 IST·Source NDTV Profit

What happened

Investec initiated 'Buy' on Vishal Mega Mart with Rs 144 target (21% upside), citing 795-store scale, 74% private-label mix, and a double-engine growth story

Key facts

  • Target Rs 144
  • 21.1% upside
  • CMP Rs 118.90
  • 795 stores
  • 74% private-label
  • 10% SSSG
  • 13% store additions
  • 18% revenue CAGR
  • 21% EPS CAGR FY26-29

Why this matters

The 795-store footprint and private-label scale make Vishal a defensive anchor in value retail, worth benchmarking against for any tier-2/3 expansion or partnership thesis.