On consolidated basis
Quarter
ended June 2024 compared with Quarter ended June 2023.
Net sales (including other operating income) of Avenue Supermarts has increased
18.57% to Rs 14069.14 crore.
Operating profit margin has declined
from 8.73% to 8.68%, leading to 17.96% rise in operating profit to Rs 1,221.25
crore. Purchase of finished goods cost fell from 85.00% to 84.52%.
Employee cost increased from 1.72% to 1.88%. Other
expenses rose from 4.67% to 4.98%.
Other income rose 7.38% to Rs 41.6
crore. PBIDT rose 17.58% to Rs 1262.85 crore. Provision
for interest rose 9.54% to Rs 15.96 crore.
PBDT rose 17.69% to Rs 1246.89
crore. Provision for depreciation rose 18.86% to Rs 192.76
crore.
Profit before tax grew 17.48% to Rs
1,054.13 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 280.45 crore, compared
to Rs 238.55 crore. Effective tax rate was 26.60% compared to
26.59%.
Minority interest decreased 250% to
Rs -0.14 crore. Net profit attributable to owners of the company
increased 17.47% to Rs 773.82 crore.
Promoters’ stake was 74.65% as of 30
June 2024 ,compared to 74.65% as of 30 June 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:
6 stores were added in Q1FY2025.
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:
“Our revenue for Q1 FY 2025 grew by
18.4%. Contribution from General Merchandise and Apparel continued to improve
during the quarter and this is reflected in the gross margin uptick (Q1 FY 2025
vs Q1 FY 2024). We opened
6 new stores during the quarter. Our
total stores stand at 371 as on June 30, 2024. Operating costs have gone up due
to continuing effort on improving service levels and building capability for
the future.”
| Avenue Supermarts : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202406 | 202306 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 14,069.14 | 11,865.44 | 18.57 | 50,788.83 | 42,839.56 | 18.56 | | OPM (%) | 8.68 | 8.73 | -4 bps | 8.08 | 8.49 | -41 bps | | OP | 1,221.25 | 1,035.27 | 17.96 | 4,103.77 | 3,637.03 | 12.83 | | Other Inc. | 41.60 | 38.74 | 7.38 | 146.45 | 129.34 | 13.23 | | PBIDT | 1,262.85 | 1,074.01 | 17.58 | 4,250.22 | 3,766.37 | 12.85 | | Interest | 15.96 | 14.57 | 9.54 | 58.13 | 67.41 | -13.77 | | PBDT | 1,246.89 | 1,059.44 | 17.69 | 4,192.09 | 3,698.96 | 13.33 | | Depreciation | 192.76 | 162.18 | 18.86 | 730.76 | 638.87 | 14.38 | | PBT | 1,054.13 | 897.26 | 17.48 | 3461.33 | 3060.09 | 13.11 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 1054.13 | 897.26 | 17.48 | 3461.33 | 3060.09 | 13.11 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 1054.13 | 897.26 | 17.48 | 3461.33 | 3060.09 | 13.11 | | Taxation | 280.45 | 238.55 | 17.56 | 925.72 | 681.75 | 35.79 | | PAT | 773.68 | 658.71 | 17.45 | 2535.61 | 2378.34 | 6.61 | | Minority Interest (MI) | -0.14 | -0.04 | -250.00 | -0.56 | -0.17 | -229.41 | | Net profit | 773.82 | 658.75 | 17.47 | 2536.17 | 2378.51 | 6.63 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 773.82 | 658.75 | 17.47 | 2536.17 | 2378.51 | 6.63 | | EPS (Rs)* | 11.89 | 10.12 | 17.47 | 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 |
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