Aditya Vision (540205) Q1 26/27 earnings summary

Executive summary

• Revenue grew 27% year-over-year in Q1 FY27, surpassing long-term growth targets, with EBITDA up 38.7% and PAT up 40%, driven by market share gains, healthy demand, and store network expansion across India.

• Profit after tax increased to INR 77 crore, with PAT margin improving by 61 basis points to 6.5%.

• Store count expanded to 210, with a balanced sales mix across Bihar (72%), Uttar Pradesh (16%), and Jharkhand (11%).

• Strategic diversification into new geographies and disciplined cost management contributed to improved profitability and resilience against regional and seasonal challenges.

• Standalone unaudited financial results for the quarter ended June 30, 2026, were approved by the Board on July 31, 2026.

Financial highlights

• Q1 FY27 revenue: INR 1,193 crore, up 27% year-over-year.

• Gross margin expanded by 75 basis points to 16.1% year-over-year.

• EBITDA: INR 124 crore; EBITDA margin improved by 89 basis points to 10.4%.

• PAT grew to INR 77 crore, with PAT margin up 61 basis points to 6.5%.

• Inventory reduced by INR 177 crore compared to March 2026, standing at INR 663 crore as of June 30, 2026.

Outlook and guidance

• On track to open more than 30 new stores in FY27, with plans to enter Madhya Pradesh and expand further in West Bengal and Chhattisgarh.

• EBITDA margin guidance remains at 8%-10% annually, with expectations to maintain or exceed 9%.

• Management expects continued growth driven by rising incomes, premiumization, and organized retail penetration.

• Focus on efficient working capital management and continued store network expansion.

• Sales are seasonal and not comparable sequentially.