Demand softness persists

30 Jan 2024
5 Min read 
  • Vedant Fashions reported soft 3QFY24 results with demand continuing to be weak.
  •  Revenue growth was supported by footprint addition, but same store sales declined.
  •  Financials and valuations show a decline in PAT/EBITDA growth and lower valuations.
  •  Management commentary suggests softness in demand but expects improved traction in 4QFY24.
  •  The company plans to open more stores for emerging brands and enter the South Indian market.
  •  Neutral stance on the stock with a target price of INR1,200.
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