Consolidated quarterly performance QoQ comparison
Net sales (including other operating income) of Avenue Supermarts has increased 46.79% to Rs 7788.94 crore.
Operating profit margin has jumped from 6.21% to 8.58%, leading to 102.91% rise in operating profit to Rs 668.58 crore. Purchase of finished goods cost rose from 85.68% to 86.04%. Employee cost decreased from 2.45% to 1.76%. Other expenses fell from 5.75% to 4.18%.
Other income fell 47.29% to Rs 27.5 crore. PBIDT rose 82.38% to Rs 696.08 crore. Provision for interest rose 33.44% to Rs 12.37 crore. Loan funds rose to Rs 510.22 crore as of 30 September 2021 from Rs 328.95 crore as of 30 September 2020. Inventories rose to Rs 2,747.31 crore as of 30 September 2021 from Rs 1,936.66 crore as of 30 September 2020. Sundry debtors were higher at Rs 49.09 crore as of 30 September 2021 compared to Rs 37.51 crore as of 30 September 2020. Cash and bank balance rose to Rs 607.24 crore as of 30 September 2021 from Rs 77.57 crore as of 30 September 2020. Investments rose to Rs 6.57 crore as of 30 September 2021 from Rs 2.36 crore as of 30 September 2020 .
PBDT rose 83.60% to Rs 683.71 crore. Provision for depreciation rose 15.18% to Rs 116.01 crore. Fixed assets increased to Rs 8,772.62 crore as of 30 September 2021 from Rs 6,564.21 crore as of 30 September 2020. Intangible assets stood at Rs 78.27 crore.
Profit before tax grew 108.96% to Rs 567.70 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 149.94 crore, compared to Rs 73.15 crore. Effective tax rate was 26.41% compared to 26.93%.
Minority interest decreased 50% to Rs -0.03 crore. Net profit attributable to owners of the company increased 110.42% to Rs 417.79 crore.
Equity capital stood at Rs 647.77 crore as of 30 September 2021 to Rs 647.77 crore as of 30 September 2020. Per share face Value remained same at Rs 10.00.
Promoters' stake was 74.99% as of 30 September 2021 ,compared to 74.99% as of 30 September 2020 .
Consolidated year-to-date performance.
Net sales (including other operating income) of Avenue Supermarts has increased 41.16% to Rs 12972.06 crore.
Operating profit margin has jumped from 4.80% to 6.88%, leading to 102.32% rise in operating profit to Rs 892.76 crore. Purchase of finished goods cost rose from 85.59% to 86.32%. Employee cost decreased from 2.84% to 2.18%. Other expenses fell from 6.76% to 4.88%.
Other income fell 42.63% to Rs 58.96 crore. PBIDT rose 74.94% to Rs 951.72 crore. Provision for interest rose 28.30% to Rs 23.21 crore. Loan funds rose to Rs 510.22 crore as of 30 September 2021 from Rs 328.95 crore as of 30 September 2020. Inventories rose to Rs 2,747.31 crore as of 30 September 2021 from Rs 1,936.66 crore as of 30 September 2020. Sundry debtors were higher at Rs 49.09 crore as of 30 September 2021 compared to Rs 37.51 crore as of 30 September 2020. Cash and bank balance rose to Rs 607.24 crore as of 30 September 2021 from Rs 77.57 crore as of 30 September 2020. Investments rose to Rs 6.57 crore as of 30 September 2021 from Rs 2.36 crore as of 30 September 2020 .
PBDT rose 76.54% to Rs 928.51 crore. Provision for depreciation rose 14.30% to Rs 223.45 crore. Fixed assets increased to Rs 8,772.62 crore as of 30 September 2021 from Rs 6,564.21 crore as of 30 September 2020. Intangible assets stood at Rs 78.27 crore.
Profit before tax grew 113.36% to Rs 705.06 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 191.94 crore, compared to Rs 91.84 crore. Effective tax rate was 27.22% compared to 27.79%.
Minority interest decreased 33.33% to Rs -0.04 crore. Net profit attributable to owners of the company increased 115.04% to Rs 513.16 crore.
Equity capital stood at Rs 647.77 crore as of 30 September 2021 to Rs 647.77 crore as of 30 September 2020. Per share face Value remained same at Rs 10.00.
Promoters' stake was 74.99% as of 30 September 2021 ,compared to 74.99% as of 30 September 2020 .
Cash flow from operating activities decreased to Rs 241.56 crore for YTD ended September 2021 from Rs 502.23 crore for YTD ended September 2020. Cash flow used in acquiring fixed assets during the YTD ended September 2021 stood at Rs 1,036.20 crore, compared to Rs 651.11 crore during the YTD ended September 2020.
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 tocustomers by selling at competitive prices.
Commenting on the performance of the company Mr. Neville Noronha, CEO & Managing Director, Avenue Supermarts Limited, said: "Covid-19 related lockdown restrictions were eased further during this quarter. Revenue in the DMart stores grew by 46.6% over the corresponding quarter of last year. Two years and older DMart stores grew by 23.7% in the month of September 2021 as compared to September 2020. We have 187 stores that are 2 years or older.
We have done a soft launch of DMart Ready in the cities of Surat and Vadodara.
All our premises continue to follow all Covid-19 related protocols for the safety of our customers and employees. More than 96% of all our eligible employees have taken their second dose of vaccination. We continue to encourage all eligible employees to get fully vaccinated".
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