On consolidated basis
Quarter
ended September 2024 compared with Quarter ended September 2023.
Net sales (including other operating income) of Avenue Supermarts has increased
14.42% to Rs 14444.5 crore.
Operating profit margin has declined
from 7.96% to 7.57%, leading to 8.84% rise in operating profit to Rs 1,093.77
crore. Purchase of finished goods cost rose from 85.94% to 86.01%.
Employee cost increased from 1.71% to 1.85%. Other
expenses rose from 4.73% to 5.04%.
Other income fell 9.21% to Rs 33.52
crore. PBIDT rose 8.20% to Rs 1127.29 crore. Provision
for interest rose 4.68% to Rs 16.32 crore. Loan funds rose to Rs
712.91 crore as of 30 September 2024 from Rs 630.38 crore as of 30 September
2023. Inventories rose to Rs 4,979.21 crore as of 30 September 2024
from Rs 3,937.12 crore as of 30 September 2023. Sundry debtors were
lower at Rs 102.37 crore as of 30 September 2024 compared to Rs 118.76 crore as
of 30 September 2023. Cash and bank balance declined from Rs 906.02
crore as of 30 September 2023 to Rs 305.00 crore as of 30 September
2024. Investments declined from Rs 326.66 crore as of 30 September
2023 to Rs 86.55 crore as of 30 September 2024.
PBDT rose 8.25% to Rs 1110.97
crore. Provision for depreciation rose 19.17% to Rs 207.78
crore. Fixed assets increased to Rs 15,570.93 crore as of 30
September 2024 from Rs 12,930.73 crore as of 30 September
2023. Intangible assets declined from Rs 102.32 crore to Rs 78.27
crore.
Profit before tax grew 6.02% to Rs
903.19 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 243.75 crore, compared
to Rs 228.59 crore. Effective tax rate was 26.99% compared to
26.83%.
Minority interest increased 33.33%
to Rs -0.14 crore. Net profit attributable to owners of the company
increased 5.78% to Rs 659.58 crore.
Equity capital stood at Rs 650.73
crore as of 30 September 2024 to Rs 650.73 crore as of 30 September
2023. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 74.65% as of 30
September 2024 ,compared to 74.65% as of 30 September 2023 .
Year-to-date (YTD) results analysis.
Net sales (including other operating income) of Avenue Supermarts has increased
16.43% to Rs 28513.64 crore.
Operating profit margin has declined
from 8.33% to 8.12%, leading to 13.47% rise in operating profit to Rs 2,315.02
crore. Purchase of finished goods cost fell from 85.49% to 85.29%.
Employee cost increased from 1.71% to 1.87%. Other
expenses rose from 4.70% to 5.01%.
Other income fell 0.71% to Rs 75.12
crore. PBIDT rose 12.96% to Rs 2390.14 crore. Provision
for interest rose 7.03% to Rs 32.28 crore. Loan funds rose to Rs
712.91 crore as of 30 September 2024 from Rs 630.38 crore as of 30 September 2023. Inventories
rose to Rs 4,979.21 crore as of 30 September 2024 from Rs 3,937.12 crore as of
30 September 2023. Sundry debtors were lower at Rs 102.37 crore as
of 30 September 2024 compared to Rs 118.76 crore as of 30 September 2023. Cash
and bank balance declined from Rs 906.02 crore as of 30 September 2023 to Rs
305.00 crore as of 30 September 2024. Investments declined from Rs
326.66 crore as of 30 September 2023 to Rs 86.55 crore as of 30 September
2024.
PBDT rose 13.05% to Rs 2357.86
crore. Provision for depreciation rose 19.02% to Rs 400.54
crore. Fixed assets increased to Rs 15,570.93 crore as of 30
September 2024 from Rs 12,930.73 crore as of 30 September
2023. Intangible assets declined from Rs 102.32 crore to Rs 78.27
crore.
Profit before tax grew 11.90% to Rs
1,957.32 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 524.2 crore, compared
to Rs 467.14 crore. Effective tax rate was 26.78% compared to
26.71%.
Minority interest decreased 12% to
Rs -0.28 crore. Net profit attributable to owners of the company
increased 11.78% to Rs 1,433.40 crore.
Equity capital stood at Rs 650.73
crore as of 30 September 2024 to Rs 650.73 crore as of 30 September
2023. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 74.65% as of 30
September 2024 ,compared to 74.65% as of 30 September 2023 .
Cash flow from operating activities
increased to Rs 1,035.12 crore for YTD ended September 2024 from Rs 907.19
crore for YTD ended September 2023. Cash flow used in acquiring
fixed assets during the YTD ended September 2024 stood at Rs 1,595.76 crore,
compared to Rs 1,303.72 crore during the YTD ended September 2023.
Full year results analysis.
Net sales (including other operating income) of Avenue Supermarts has increased
18.56% to Rs 50788.83 crore.
Operating profit margin has declined
from 8.49% to 8.08%, leading to 12.83% rise in operating profit to Rs 4,103.77
crore. Purchase of finished goods cost rose from 85.10% to 85.40%.
Employee cost increased from 1.72% to 1.76%. Other
expenses rose from 4.78% to 4.87%.
Other income rose 13.23% to Rs
146.45 crore. PBIDT rose 12.85% to Rs 4250.22
crore. Provision for interest fell 13.77% to Rs 58.13
crore. Loan funds declined from Rs 642.98 crore as of 31 March 2023
to Rs 592.16 crore as of 31 March 2024. Inventories rose to Rs
3,927.31 crore as of 31 March 2024 from Rs 3,243.48 crore as of 31 March
2023. Sundry debtors were higher at Rs 166.37 crore as of 31 March
2024 compared to Rs 62.16 crore as of 31 March 2023. Cash and bank
balance declined from Rs 1,408.33 crore as of 31 March 2023 to Rs 638.18 crore
as of 31 March 2024. Investments declined from Rs 202.20 crore as of
31 March 2023 to Rs 106.67 crore as of 31 March 2024.
PBDT rose 13.33% to Rs 4192.09
crore. Provision for depreciation rose 14.38% to Rs 730.76
crore. Fixed assets increased to Rs 14,241.60 crore as of 31 March
2024 from Rs 12,091.37 crore as of 31 March 2023. Intangible assets
increased from Rs 78.27 crore to Rs 108.62 crore.
Profit before tax grew 13.11% to Rs
3,461.33 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 925.72 crore, compared
to Rs 681.75 crore. Effective tax rate was 26.74% compared to 22.28%.
Minority interest decreased 229.41%
to Rs -0.56 crore. Net profit attributable to owners of the company
increased 6.63% to Rs 2,536.17 crore.
Equity capital increased from Rs
648.26 crore as of 31 March 2023 to Rs 650.73 crore as of 31 March
2024. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 74.65% as of 31
March 2024 ,compared to 74.93% as of 31 March 2023 .
Cash flow from operating activities
increased to Rs 2,745.84 crore for year ended March 2024 from Rs 2,630.27 crore
for year ended March 2023. Cash flow used in acquiring fixed assets
during the year ended March 2024 stood at Rs 2,731.25 crore, compared to Rs
2,211.95 crore during the year ended March 2023.
Operational highlights:
As of
September 30, 2024, the Company had 377 operating stores with Retail Business
Area of 15.8 million sq. ft across Maharashtra, Gujarat, Telangana, Andhra
Pradesh, Karnataka, Tamil Nadu, Madhya Pradesh, Rajasthan, Punjab, NCR,
Chhattisgarh and Daman.
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:
“Overall H1 FY 2025 like-for-like
revenue growth was 7.4% for 2 years and older stores. The Q2 FY 2025 like- for-like
revenue growth for the same cohort of stores was at 5.5%. We clearly see impact
of online grocery formats including DMart Ready in large metro DMart stores
which operate at a very high turnover per square feet of revenue. DMart Ready
business grew by 21.8% in H1 FY 2025.”
| Avenue Supermarts : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202409 | 202309 | Var.(%) | 202409 | 202309 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 14,444.50 | 12,624.37 | 14.42 | 28,513.64 | 24,489.81 | 16.43 | 50,788.83 | 42,839.56 | 18.56 | | OPM (%) | 7.57 | 7.96 | -39 bps | 8.12 | 8.33 | -21 bps | 8.08 | 8.49 | -41 bps | | OP | 1,093.77 | 1,004.97 | 8.84 | 2,315.02 | 2,040.24 | 13.47 | 4,103.77 | 3,637.03 | 12.83 | | Other Inc. | 33.52 | 36.92 | -9.21 | 75.12 | 75.66 | -0.71 | 146.45 | 129.34 | 13.23 | | PBIDT | 1,127.29 | 1,041.89 | 8.20 | 2,390.14 | 2,115.90 | 12.96 | 4,250.22 | 3,766.37 | 12.85 | | Interest | 16.32 | 15.59 | 4.68 | 32.28 | 30.16 | 7.03 | 58.13 | 67.41 | -13.77 | | PBDT | 1,110.97 | 1,026.30 | 8.25 | 2,357.86 | 2,085.74 | 13.05 | 4,192.09 | 3,698.96 | 13.33 | | Depreciation | 207.78 | 174.36 | 19.17 | 400.54 | 336.54 | 19.02 | 730.76 | 638.87 | 14.38 | | PBT | 903.19 | 851.94 | 6.02 | 1957.32 | 1749.2 | 11.90 | 3461.33 | 3060.09 | 13.11 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 903.19 | 851.94 | 6.02 | 1957.32 | 1749.2 | 11.90 | 3461.33 | 3060.09 | 13.11 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 903.19 | 851.94 | 6.02 | 1957.32 | 1749.2 | 11.90 | 3461.33 | 3060.09 | 13.11 | | Taxation | 243.75 | 228.59 | 6.63 | 524.2 | 467.14 | 12.21 | 925.72 | 681.75 | 35.79 | | PAT | 659.44 | 623.35 | 5.79 | 1433.12 | 1282.06 | 11.78 | 2535.61 | 2378.34 | 6.61 | | Minority Interest (MI) | -0.14 | -0.21 | 33.33 | -0.28 | -0.25 | -12.00 | -0.56 | -0.17 | -229.41 | | Net profit | 659.58 | 623.56 | 5.78 | 1433.4 | 1282.31 | 11.78 | 2536.17 | 2378.51 | 6.63 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 659.58 | 623.56 | 5.78 | 1433.4 | 1282.31 | 11.78 | 2536.17 | 2378.51 | 6.63 | | EPS (Rs)* | 10.14 | 9.58 | 5.78 | 22.03 | 19.71 | 11.78 | 38.97 | 36.55 | 6.63 | | | * EPS is on current equity of Rs 650.73 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 |
|
|