CITI on Avenue Supermart
Sell, TP Rs 3350
Despite improvement in SSG (from 5.5% in 2Q to 8.3% in 3Q); EBITDA/PAT missed Citi est by 9%/12% led by EBITDA margin contraction (-50bps YoY)
Co appointment of Anshul Asawa as CEO Designate as Neville Noronha will step down in Jan’26