Walmart's Flipkart faces potential $1.35 billion fine

  • Walmart subsidiary and Indian e-commerce company Flipkart and its founders have received a notice from India's financial crime agency asking it to explain why it shouldn't face fines of 100 billion rupees ($1.35B) for alleged foreign investment law violations.
  • The agency has been investigating Flipkart and Amazon .com (AMZN -0.2%) for breaking multi-brand retail regulations that restrict such companies from operating as a marketplace to sellers.
  • The investigation involves predatory pricing allegations that Flipkart gave preferential treatment to its former subsidiary, WS Retail.
  • "We will cooperate with the authorities as they look at this issue pertaining to the period 2009-2015 as per their notice," said a Flipkart spokesperson. The company says that they are "in compliance with Indian laws and regulations."
  • Flipkart has 90 days to respond to the notice. Walmart bought a 77% stake in the company in Aug 2018 for $16B. The company was recently valued at $37.6B during a July funding round.

    Tomorrow the American Walmart Stores will report its past quarters results. For this year Walmart Stores 's (located in Bentonville) revenue will be around 563.8 billion USD. This is according to the average of the analysts' estimates. This is slightly more than 2021's revenue of 559.15 billion USD.

    Historical revenues and results Walmart Stores plus estimates 2021

    koersgrafieken

    The analysts expect for 2021 a net profit of 17.66 billion USD. According to most of the analysts the company will have a profit per share for this book year of 6.24 USD. Based on this the price/earnings-ratio is 23.89.

    Per share the analysts expect a dividend of 2.21 USD per share. Thus the dividend yield equals 1.48 percent. The average dividend yield of the food & drug retailers equals a relatively high 1.98 percent.

    Based on the current number of outstanding shares Walmart Stores 's market capitalization is 422.25 billion USD. 14

    Historical stock prices Walmart Stores2007-2021

    equity research walmartstores

    On Wednesday the stock closed at 149.1 USD.

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