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Thanks to a better fundamental star rating, FUTURE RETAIL sees an upgr...
The independent financial analyst theScreener just awarded an improved star rating to FUTURE RETAIL (IN), active in the Food Retailers & Wholesalers industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 3 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date December 8, 2020...
Future Retail Ltd: 1 director sold
A director at Future Retail Ltd sold 24,952 shares at 79.097INR and the significance rating of the trade was 62/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clear...
- Aliasgar Shakir
MOSL: FUTURE RETAIL (Buy)-Focus on profitability drives bold steps
Future Retail: Focus on profitability drives bold steps (FRETAIL IN, Mkt Cap USD2.7b, CMP INR377, TP INR450, 19% Upside, Buy) Future Retail's revenue declined marginally in 3QFY20 due to closure of small-format stores and exit from select product categories. We cut our revenue estimate by 11% for FY21 to factor in store closures, lesser store adds and slower SSSG. We also cut our EBITDA estimate by a lesser 7% for FY21 due to loss of revenue from store closure. Store closure, exit fr...
- Aliasgar Shakir
MOSL: FUTURE RETAIL (Buy)- Amazon to acquire 3.65% stake
FUTURE RETAIL: Amazon to acquire 3.65% stake (FRETAIL IN, Mkt Cap USD2.7b, CMP INR390, TP INR550, 41% Upside, Buy) E-commerce giant Amazon has agreed to make an investment to acquire a 49% stake in Future Coupons (FCL), which holds a 7.3% stake (39.6m shares) in Future Retail (FRL). This implies that Amazon would gain a 3.5% beneficial stake in FRL. It did not disclose the deal value; however, we estimate it to be at a significant premium to INR505 - the price at which FRL issued warran...
- Aliasgar Shakir
MOSL: FUTURE RETAIL (Buy)-Growth trends steady-ownership clean-up – ...
FUTURE RETAIL: Growth trends steady; ownership clean-up – a key trigger (FRETAIL IN, Mkt Cap USD3b, CMP INR413, TP INR550, 33% Upside, Buy) Showing consistency in SSSG, margin improvement: FRL reported revenue growth of 14% YoY (in-line) to INR52.3b in 1QFY20. EBITDA grew 20% YoY to INR2.7b on a pre-Ind-AS 116 basis (reported EBITDA at INR6.3b), with margin improving 30bp YoY to 5.1% led by healthy SSSG of 8.3% YoY. PAT (pre-Ind-AS) grew 11% YoY to INR1.7b (reported growth of +6% YoY, imp...
- Aliasgar Shakir
MOSL: FUTURE RETAIL (Buy)-Consistent delivery-store expansion to conti...
Future Retail: Consistent delivery; store expansion to continue (FRETAIL IN, Mkt Cap USD3.2b, CMP INR439, TP INR550, 25% Upside, Buy) Beat on all fronts driven by healthy SSSG: 4QFY19 standalone revenue grew 18% YoY (7% beat), while gross margin contracted marginally (highlighting the competitive market). The strong revenue growth translated into EBITDA margin improving to 5.4% YoY (+100bp), driving 44% YoY EBITDA growth and 45% YoY Adj. PAT growth (27% beat). FY19 revenue/EBITDA/Adj. PAT...
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