Aditya Vision (540205) Q4 22/23 earnings summary

Executive summary

• FY 2022-23 delivered 47% revenue growth to ₹1,322.23 Cr and 82% PAT growth to ₹64.14 Cr, alongside expansion from 79 to 105 outlets.

• Growth was supported by a pandemic-free year, stronger consumer offtake, new-store additions and retained consumer durables market share above 50% in Bihar.

Financial highlights

• Revenue from operations rose to ₹1,322.23 Cr from ₹899.11 Cr; EBITDA increased 60% to ₹132.98 Cr from ₹83.05 Cr.

• PAT reached ₹64.14 Cr versus ₹35.27 Cr; total expenses were ₹1,239.18 Cr and profit before tax was ₹85.99 Cr.

• Same-store sales growth reached 38% in FY23, compared with 15% in FY22; revenue per sq. ft. increased to ~₹40,000 from ~₹34,000.

Outlook and guidance

• FY2025 roadmap targets 20–25% revenue CAGR, with cash flows reinvested in store expansion and increased focus on mid- and premium-category products.

• Expansion plans prioritize Bihar sub-divisions, most Jharkhand districts and eastern Uttar Pradesh; management aims to preserve profitability and fund growth through reinvestment.

• Twelve outlets had opened in FY 2023-24 by the report date, taking the network to 117; further openings were planned.