 |
Results
09-Jul-22
|
|
|
|
|
|
|
|
Analysis
|
|
|
|
Avenue Supermarts
|
|
PAT up 574% YoY to Rs 641.6 crore in Q1FY2023
|
|
|
|
|
On consolidated basis
Quarter ended June 2022 compared
with Quarter ended June 2021.
Net sales (including other operating income) of Avenue Supermarts has increased
93.67% to Rs 10038.07 crore.
Operating profit margin has jumped
from 4.33% to 10.04%, leading to 349.75% rise in operating profit to Rs
1,008.24 crore. Purchase of finished goods cost fell from 86.76% to
83.76%. Employee cost decreased from 2.86% to 1.78%.
Other expenses fell from 6.02% to 4.48%.
Other income fell 7.37% to Rs 29.14
crore. PBIDT rose 305.80% to Rs 1037.38 crore. Provision
for interest rose 58.86% to Rs 17.22 crore.
PBDT rose 316.73% to Rs 1020.16
crore. Provision for depreciation rose 34.72% to Rs 144.74
crore.
Profit before tax grew 537.32% to Rs
875.42 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 232.53 crore, compared
to Rs 42 crore. Effective tax rate was 26.56% compared to 30.58%.
Minority interest decreased 300% to
Rs -0.04 crore. Net profit attributable to owners of the company
increased 574.14% to Rs 642.93 crore.
Promoters’ stake was 74.99% as of 30
June 2022 ,compared to 74.99% as of 30 June 2021 .
Management Commentary
D-Mart follows Everyday low cost -
Everyday low price (EDLC-EDLP) strategy which aims at procuring goods at
competitive price, using operational and distribution efficiency and thereby
delivering value for money to customers by selling at competitive prices.
Commenting
on the performance of the company Mr. Neville Noronha, CEO & Managing
Director, Avenue Supermarts Limited, said:
"DMart (Brick and Mortar)
Business Overview
We ended Q1 FY2023 with growth across all key
financial parameters. There has been a very good recovery of overall sales.
However, this quarter`s performance is not comparable to the same period last
year due to the second wave of Covid-19 during that time. We cumulatively
opened 110 stores over the last 3 financial years which never got an
opportunity to operate in normal circumstances over the last 2 years. There are
stores that are larger, better designed and have capacity to handle larger
scale revenue. These stores have done extremely well in this quarter. This is
also the first full quarter of zero disruption from Covid-19 pandemic. Q1 like
Q3 is a good revenue as well as profit enhancing period due to back to
school/college season and the onset of monsoons.
General
Merchandise and Apparel categories saw relatively better traction than the
previous quarter but still has some overhang of the COvid-19 led disruptions
and acute inflationary impact. Our discretionary contribution mix of this
quarter is yet to reach the pre-pandemic levels but is getting better. High
inflation over the last two years hides the possible stress in volume growth
for discretionary categories of mass consumption. Value growth through positive
volume growth of discretionary products in relatively older stores is the best
reflection of the strength of the DMart business, competitive impact and the
local economy. We have made good progress in this area during the quarter. We
will need another quarter of uninterrupted operations to understand this
better.
DMart Ready
DMart
Ready continues to deepen its presence across 12 cities in India. We are doing
more of the same and continue to focus on the larger cities. Smaller towns are
pilots and we are constantly learning from the feedback we get from our
customers in these towns."
| Avenue Supermarts : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202206 | 202106 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 10,038.07 | 5,183.12 | 93.67 | 30,976.27 | 24,143.06 | 28.30 | | OPM (%) | 10.04 | 4.33 | 572 bps | 8.07 | 7.22 | 85 bps | | OP | 1,008.24 | 224.18 | 349.75 | 2,498.50 | 1,743.05 | 43.34 | | Other Inc. | 29.14 | 31.46 | -7.37 | 117.49 | 196.21 | -40.12 | | PBIDT | 1,037.38 | 255.64 | 305.80 | 2,615.99 | 1,939.26 | 34.90 | | Interest | 17.22 | 10.84 | 58.86 | 53.79 | 41.65 | 29.15 | | PBDT | 1,020.16 | 244.80 | 316.73 | 2,562.20 | 1,897.61 | 35.02 | | Depreciation | 144.74 | 107.44 | 34.72 | 498.08 | 414.16 | 20.26 | | PBT | 875.42 | 137.36 | 537.32 | 2064.12 | 1483.45 | 39.14 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 875.42 | 137.36 | 537.32 | 2064.12 | 1483.45 | 39.14 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 875.42 | 137.36 | 537.32 | 2064.12 | 1483.45 | 39.14 | | Taxation | 232.53 | 42 | 453.64 | 571.72 | 384.02 | 48.88 | | PAT | 642.89 | 95.36 | 574.17 | 1492.4 | 1099.43 | 35.74 | | Minority Interest (MI) | -0.04 | -0.01 | -300.00 | -0.15 | -0.06 | -150.00 | | Net profit | 642.93 | 95.37 | 574.14 | 1492.55 | 1099.49 | 35.75 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 642.93 | 95.37 | 574.14 | 1492.55 | 1099.49 | 35.75 | | EPS (Rs)* | 9.93 | 1.47 | 574.14 | 23.04 | 16.97 | 35.75 | | | * EPS is on current equity of Rs 647.77 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
|
|
|
|
|
Previous News |
Avenue Supermarts opens new store in Thane
(
Corporate News
-
04-Jul-24
19:44
)
|
|
|
Avenue Supermarts Ltd leads gainers in 'A' group
(
Hot Pursuit
-
03-Jan-25
12:00
)
|
|
|
DMart revenue rises 17.8% YoY in March quarter
(
Hot Pursuit
-
04-Apr-22
10:31
)
|
|
|
Avenue Supermarts schedules board meeting
(
Corporate News
-
04-Jan-25
10:07
)
|
|
|
Avenue Supermarts IPO fully bid
(
IPO Centre
-
IPO News
08-Mar-17
16:47
)
|
|
|
Avenue Supermarts Q2 PAT rises 6% YoY to Rs 660 cr in FY25
(
Hot Pursuit
-
14-Oct-24
11:14
)
|
|
|
Volumes spurt at Avenue Supermarts Ltd counter
(
Hot Pursuit
-
03-Jan-25
11:00
)
|
|
|
Avenue Supermarts consolidated net profit rises 7.80% in the March 2023 quarter
(
Results
-
Announcements
13-May-23
15:58
)
|
|
|
Avenue Supermarts grants 12.37 lakh stock options
(
Corporate News
-
01-Sep-23
19:21
)
|
|
|
Avenue Supermarts allots NCDs aggregating Rs 100 crore
(
Corporate News
-
27-Sep-19
19:50
)
|
|
|
Avenue Supermarts to conduct board meeting
(
Corporate News
-
09-Oct-20
15:43
)
|
|
|
|
|
|
Other Stories |
|
|
|
|
|
|
|
|
|
|
|
|
|