Aditya Vision Q1 FY27 Revenue Up 27% YoY

The event was a Q1 FY27 Earnings Conference Call held on Friday, July 31, 2026. The call was moderated by Ms. Devanshi Kamdar from Axis Capital.
The primary purpose was to discuss the company's unaudited financial results for the quarter ended June 30, 2026 (Q1 FY27).
Management participants included Mr. Yashovardhan Sinha (Chairman and Managing Director) and Ms. Yosham Vardhan (Whole-time Director).
The transcript of the call was attached to the disclosure and is also available on the company's website at www.adityavision.in.
The financial period discussed was Q1 FY27 (quarter ended June 30, 2026).

Financial Performance:

Revenue stood at ₹1,193 crores, registering a 27% year-on-year (Y-o-Y) growth.
Gross Margin was 16.1%, expanding by approximately 75 basis points Y-o-Y.
EBITDA was ₹124 crores, with an EBITDA margin of 10.4%, reflecting an expansion of around 89 basis points Y-o-Y.
Profit After Tax (PAT) was ₹77 crores, with a PAT margin of 6.5%, improving by approximately 61 basis points Y-o-Y.
PAT grew 40% Y-o-Y.

Operational Metrics:

Same-Store Sales Growth (SSSG) for the quarter was 18%.
Volume growth was 19% and Average Selling Price (ASP) growth was 8%.
The company's retail network expanded to 210 stores as of June 30, 2026, with 120 stores in Bihar, 33 in Jharkhand, 54 in Uttar Pradesh, and 3 in Chhattisgarh.
Only three new stores were opened in Q1 FY27 as part of a strategy to conserve resources and optimize operations.
Geographic revenue contribution: Bihar (72%), Uttar Pradesh (16%), Jharkhand (11%).

Product Category Performance:

Air Conditioners (ACs) contributed 42% of total sales and grew 35% Y-o-Y.
Refrigerators contributed 15% of sales.
ASP for mobiles and laptops increased by 20-25%, while ASP for ACs increased by 5-6%.

Balance Sheet & Working Capital:

Inventory stood at ₹663 crores as of June 30, 2026, a reduction of ₹177 crores compared to March 2026.
Working capital (short-term borrowing) reduced to approximately ₹175 crores.

Expansion Strategy & Guidance:

The company remains on track to add more than 30 new stores during FY27.
New market entry: The company is expanding into Madhya Pradesh and peripheral regions of West Bengal in FY27.
Store targets for new geographies: 6-10 stores in Madhya Pradesh, 6-10 stores in West Bengal, and 10-12 stores in Chhattisgarh.
The cluster-based expansion strategy is focused on leveraging existing logistics and vendor relationships.

Governance Update:

The Board approved the appointment of MSKA & Associates LLP, Chartered Accountants (an independent member firm of the BDO International network), as the new statutory auditor.

Outlook & Challenges:

Management provided an annual EBITDA margin guidance of 8-10%.
Challenges in the quarter included LPG availability concerns in large parts of their market, which led to panic reactions and cautious consumer sentiment, prompting some families to defer discretionary purchases.
Weather patterns were significantly different across operating geographies, with a mild summer in Eastern India and stronger heat in North and Central India.
The company cited government appeals to desist from buying gold and other import-dependent products as factors that cast gloom over customer buying sentiments, with uncertainty lingering due to the continued West Asia war.

The document is an intimation letter that includes the full transcript of the earnings conference call as an attachment.
The disclosure itself does not contain financial data; it serves to announce the availability of the transcript which contains the detailed financial discussion.
The transcript includes a comprehensive Q&A session with analysts from various firms (Trinetra Asset Managers, Edelweiss Public, Shikherjee Advisors, IIFL Capital, Monarch Networth, Tikri Investments, Investec, Alturas Investments, Bowhead).