Any current/future new fundraising through debt or equity?

The company has recently completed a fundraise, which has been fully utilized as per guidance. Rs. 8 crores from the fundraise is allocated for general corporate purposes but not fully utilized yet. As of Q1 FY25, the company is net debt free, with no gross debt reported; short-term working capital borrowings are temporary. There is no mention of any planned or ongoing new fundraising through debt or equity in the current quarter or near future. The focus appears to be on expanding retail footprints and achieving organic growth rather than raising additional capital at this time.

Any current/future capex/capital investment/strategic investment?

CAPEX has increased recently, largely attributable to inflation and rising prices of products like air conditioners and refrigerators (10-15% price increase). The company has not specified any major new strategic investments or capital projects beyond expanding store footprints. Plans are focused on expanding retail stores: targeting 25-30 new stores in the current financial year and reaching 200 stores by FY '26; long-term potential of opening around 500 stores. Fundraise from recent capital raise has been primarily used for working capital, with Rs. 8 crores earmarked for general corporate p

Future growth expectations in sales/revenue/volumes?

Revenue for Q1 FY ’25 surged 39% YoY to Rs. 889 crores, indicating strong growth momentum. Same Store Growth (SSG) was 21% in Q1 FY ’25, fueled by matured stores and new stores reaching maturity. Store count to grow from 150 stores as of June 2024 to over 200 stores by FY ‘26, adding 25-30 stores annually thereafter. Strong focus on expanding in Uttar Pradesh (Central and Western UP), Madhya Pradesh, and Chhattisgarh from next financial year onwards. Long-term target to reach approximately 500 stores, aiming to cover Hindi Heartland comprehensively. Growth driven by under-penetrated

Future growth expectations in earnings/operating earnings/profits/EPS?

Aditya Vision expects continued strong revenue growth fueled by expansion in under-penetrated regions, especially Uttar Pradesh and nearby states (MP, Chhattisgarh). Store expansion target: 25-30 new stores annually, aiming to reach 200 stores by FY ’26 and approx. 500 stores long-term. Same-store sales growth (SSG) is healthy at around 20%+ consistently. Operating leverage is gradually improving, with mature stores delivering better profitability. EBITDA margins are guided to remain comfortable around 8%-10%, balancing growth and margin. Earnings per share (EPS) showed 42% YoY growth this qua

Aditya Vision LtdQ1 FY25Retailing

Aditya Vision Ltd Q1 FY25 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹572P/E: 57.1Market Cap: ₹8.0K CrSector: Retailing

Management growth scorecard

Revenue

Category 2

Margin

Category 3

Fundraise

N/A

Order

N/A

Capex

Yes

1 of 3 growth signals are positive — mixed outlook.

Full analysis

Revenue guidance

Category 2

Revenue for Q1 FY ’25 surged 39% YoY to Rs. 889 crores, indicating strong growth momentum.
Same Store Growth (SSG) was 21% in Q1 FY ’25, fueled by matured stores and new stores reaching maturity.
Store count to grow from 150 stores as of June 2024 to over 200 stores by FY ‘26, adding 25-30 stores annually thereafter.
Strong focus on expanding in Uttar Pradesh (Central and Western UP), Madhya Pradesh, and Chhattisgarh from next financial year onwards.
Long-term target to reach approximately 500 stores, aiming to cover Hindi Heartland comprehensively.
Growth driven by under-penetrated regions, rising rural income, infrastructural improvements, higher disposable incomes, and easy financing options.
New stores expected to follow sales ramp-up guidance: Rs. 6 crores sales in year 1, Rs. 12 crores in year 2, and Rs. 18 crores in year 3.
Increasing share of IT and mobility-related products anticipated to contribute to sales growth gradually.

Margin guidance

Category 3

Aditya Vision expects continued strong revenue growth fueled by expansion in under-penetrated regions, especially Uttar Pradesh and nearby states (MP, Chhattisgarh).
Store expansion target: 25-30 new stores annually, aiming to reach 200 stores by FY ’26 and approx. 500 stores long-term.
Same-store sales growth (SSG) is healthy at around 20%+ consistently.
Operating leverage is gradually improving, with mature stores delivering better profitability.
EBITDA margins are guided to remain comfortable around 8%-10%, balancing growth and margin.
Earnings per share (EPS) showed 42% YoY growth this quarter; PAT growth has outpaced revenue growth, reflecting improving profitability.
ESOP cost for FY ’25 expected around Rs. 2 crores, factored in expenses.
No clear guidance beyond FY ’27, but expansion and market penetration strategies indicate positive mid-term earnings trajectory.

See what Aditya Vision Ltd management said on margin guidance — free account, 30 seconds.

Fundraise plans

The company has recently completed a fundraise, which has been fully utilized as per guidance.
Rs. 8 crores from the fundraise is allocated for general corporate purposes but not fully utilized yet.
As of Q1 FY25, the company is net debt free, with no gross debt reported; short-term working capital borrowings are temporary.
There is no mention of any planned or ongoing new fundraising through debt or equity in the current quarter or near future.
The focus appears to be on expanding retail footprints and achieving organic growth rather than raising additional capital at this time.

Order book

The transcript provided from the Aditya Vision Limited Q1 FY25 earnings call does not explicitly mention the current or expected order book or pending orders. However, some relevant points related to operations and inventory include: - The company maintains high inventory levels of compressor products strategically to meet peak summer demand and avoid stockouts. - Inventory stood at Rs. 367 crores as of June 30th, 2024, down from Rs. 433 crores on March 31st, 2024. - There was a stock shortage during the quarter due to high demand across India, especially for air conditioners. - The firm is actively buying compressor products and has utilized cash credit facilities because of this. - No specific figures on order book or pending orders were disclosed during the call. In summary, while inventory management and product stocking were emphasized, no direct data on order book or pending orders was provided on page 17 or surrounding pages.

See what Aditya Vision Ltd management said on order book — free account, 30 seconds.

Capex plans

Yes

CAPEX has increased recently, largely attributable to inflation and rising prices of products like air conditioners and refrigerators (10-15% price increase).
The company has not specified any major new strategic investments or capital projects beyond expanding store footprints.
Plans are focused on expanding retail stores: targeting 25-30 new stores in the current financial year and reaching 200 stores by FY '26; long-term potential of opening around 500 stores.
Fundraise from recent capital raise has been primarily used for working capital, with Rs. 8 crores earmarked for general corporate purposes but not fully utilized yet.
Expansion plans include moving from Eastern and Central UP to Western UP, and future foray into newer markets like Madhya Pradesh and Chhattisgarh by next financial year.
No mention of significant immediate capital investments in new product lines or technologies.

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