Aditya Vision (540205) Q2 24/25 earnings summary

Executive summary

• Achieved 20% year-over-year revenue growth in Q2FY25, with EBITDA margin at 8.0% and PAT up 27% despite seasonal challenges.

• Revenue from operations for Q2 FY25 was ₹375.85 crore, up from ₹313.13 crore in Q2 FY24, reflecting strong year-over-year growth.

• Net profit for Q2 FY25 stood at ₹12.21 crore, compared to ₹9.63 crore in Q2 FY24, indicating improved profitability.

• Opened six new stores in Q2, expanding total count to 156 across Bihar, Jharkhand, and Uttar Pradesh as of September 30, 2024.

• Shares underwent a 10-for-1 stock split during the quarter, and the company is now also listed on the National Stock Exchange.

Financial highlights

• Q2FY25 revenue rose to ₹376 Cr from ₹313 Cr in Q2FY24; H1FY25 revenue at ₹1,265 Cr, up 32.5% year-over-year.

• Total revenue for H1 FY25 was ₹958.20 crore, up from ₹747.49 crore in H1 FY24.

• Q2FY25 EBITDA increased 30.4% to ₹30 Cr; PAT grew 26.8% to ₹12.2 Cr; PAT margin improved to 3.3%.

• H1FY25 EBITDA at ₹115 Cr (33.4% YoY growth); PAT at ₹65 Cr (38.8% YoY growth); PAT margin at 5.2%.

• Diluted EPS for H1FY25 at ₹5.09, up 30.1% year-over-year; EPS for Q2 FY25 was ₹0.95 (post-split), up from ₹0.80 in Q2 FY24.

Outlook and guidance

• Targeting 20-25% revenue CAGR over the next 3-5 years, with expansion plans into new states in the Hindi heartland.

• Strategy includes reinvesting growth capital and scaling mid- and premium-priced categories.

• Sales are noted as seasonal and not directly comparable sequentially.

• Continued expansion with new store openings is expected to drive future growth.