Credit ratings agency, CARE has assigned ‘A-’ rating to V-Mart Retail’s long term bank facilities worth Rs 42.5 crore and ‘A2+’ rating to its short term bank facilities worth Rs 3 crore. The company has received the said ratings on the back of its experienced promoters, widespread geographical coverage and large supplier base.
The ratings also take into account the favourable financial profile underpinned by high profitability, comfortable debt coverage and gearing indicators.
V-Mart Retail is one of the pioneers in setting up stores across various small Indian towns and cities including Sultanpur, Ujjain, Motihari. The company primarily operates in Tier-II and Tier-III cities, with a chain of ‘value retail’ departmental stores offering apparels, general merchandise and kirana, catering to the entire family. Based in New Delhi, the company operations are spread across northern, western and eastern parts of India.
