output_adivis.txt

['R', 'R Aditya  Vision  Limited  R', 'R', 'R', 'R Aditya  Vision  Limited  R', 'R', 'Date - July 2 9, 202 4', 'BSE Limited', 'Phiroze Jeejeebhoy Towers', 'Dalal Street', 'Mumbai -400 001', 'SCRIP Code: 540205', 'Sub: -  Submission of Investor Presentation', 'Dear Sir(s)', 'With reference to the above captioned subject, please find attached herewith Investor', 'Presentation for the quarter ended June 30, 202 4.', 'This is for your information and record.', 'Thanking you', 'Yours faithfully', 'For Aditya Vision  Limited', 'Akanksha  Arya', 'Company Secretary', '150+STORE', 'AKANKSHA', 'ARYADigitally signed by', "AKANKSHA ARYA Date: 2024.07.29 15:28:14 +05'30'", '25 Years: A legacy of Promise,', 'Performance & Progress', 'Investor Presentation', 'July 2024', 'Disclaimer', '2This presentation  and the accompanying  slides  (the “Presentation”),  have  been  prepared  by Aditya  Vision  Limited  (the', '“Company”)  solely  for information  purposes  and do not constitute  any offer,  recommendation,  or invitation  to purchase  or', 'subscribe  for any securities  and shall  not form  the basis  or be relied  on in connection  with any contract  or binding  commitment', 'whatsoever . No offering  of securities  of the Company  will be made  except  by means  of a statutory  offering  document', 'containing  detailed  information  about  the Company .', 'Certain statements inthis presentation concerning ourfuture growth prospects areforward -looking statements that involve a', 'number ofrisks and uncertainties that could cause actual results todiffer materially from those insuch forward -looking', 'statements .The Risk and uncertainties relating tothe statements include but are not limited to,risks and uncertainties', 'regarding fiscal policy, competition, inflationary pressures, climate and general economic conditions affecting demand/supply', 'and price conditions indomestic and international markets .The Company does notundertake toupdate any forward -looking', 'statement that may bemade from time totime byoronbehalf oftheCompany .', 'This Presentation  has been  prepared  by the Company  based  on information  and data  which  the Company  considers  reliable .', 'This Presentation  may  not be all-inclusive  and may  not contain  all of the information  that you may  consider  material . Any', 'liability  in respect  of the contents  of, or any omission  from,  this Presentation  is expressly  excluded . The Company  does  not', 'make  any promise  to update/provide  such  a presentation  along  with results  to be declared  in the coming  quarters  and years .', 'Table of Contents', 'Q1FY25 Highlights', 'Business Overview', 'Historical Performance', 'Industry Overview', 'Appendix4-10', '13-23', '24-26', '27-32', '33-43', 'Q4FY24 Earnings Presentation 3', '4', 'Q1FY25 FINANCIAL', 'HIGHLIGHTS', 'Mr Yashovardhan  Sinha', 'Chairman and Managing Director In Q1, Aditya  Vision  has demonstrated  exceptional  performance,', 'achieving  a remarkable  increase  in revenue  and operational  efficiency .', 'Our strategic  investments  in expanding  footprint  and focus  on customer', 'satisfaction  are driving  strong  financial  performance,  positioning  us for', 'continued  success  for the full year”', 'Q1FY25: PAT Growth Surpasses Revenue Growth', 'Summer season in Q1 resulted in revenue growth of 39% YoY; AC growth 56% Opened five new Stores, Store count touched 150', 'Reduction in Inventories by Rs 66cr', '01', '02', '03', '04Profit growth of 42%  surpasses revenue growth of 39%', '5', '6Q1FY25 Financial Performance', '(Rs. in Cr) Q1FY256385', 'Q1FY24 Q1FY25EBITDA', '35%', '9.9% 9.6%PBT', '49 72', 'Q1FY24 Q1FY2547%', '7.7% 8.1%PAT', '42%', '37 53', 'Q1FY24 Q1FY25', '5.8% 6.0%641889', 'Q1FY24 Q1FY25Revenue', '39%', 'Margins', '7Q1FY25 Financial Performance', 'Particulars (Rs in Cr) Q1FY25 Q1FY24 YoY% Q4FY24 QoQ%', 'Revenue from Operations 888.8 641.2 39% 375.7 137%', 'Total Expenditure 803.7 577.9 39% 338.0 138%', 'EBITDA 85.1 63.3 34% 37.7 126%', 'EBITDA Margin % 9.6% 9.9% -- 10.0% --', 'Depreciation 8.2 6.3 9% 7.5 9%', 'Profit Before Interest & Tax 76.9 57.0 35% 30.2 155%', 'Interest 6.8 9.0 -24% 15.9 -57%', 'Other Income 1.7 1.37 24% 1.8 -6%', 'Profit Before Tax 71.8 49.3 46% 16.1 346%', 'Tax 18.8 11.9 58% 8.2 129%', 'Net Profit 53.0 37.4 42% 7.9 571%', 'PAT Margin (%) 6.0% 5.8% -- 2.1% --', 'Diluted Earnings Per Share (Rs) 41.07 31.11 -- 5.64 %', '8FY24 Snapshot', 'Celebrating 25 years', 'Declared an interim dividend of Rs. 5.10 per', 'share on the completion of 25 years of', 'operations100+ Stores in Bihar', 'Strong Brand Patronage – Crossed 100', 'stores in Bihar', 'Fund Raise from Marquee Investor', 'Successfully raised growth capital from', 'one of the World’s largest FII – Capital', 'GroupStarted expanding in UP in Q4FY23; now', 'present in 14 districtsStrong Inroads in UP in a short span 2x Topline in 2 years', 'Nearly doubled its topline in just 2 years', 'Inclusive Growth', 'Widely awarded ESOP to employees from', 'cashiers & storekeepers to senior', 'management team', 'Revenue', 'exceeded the', 'Guidance, up 32%', 'YoY', 'PAT grew by 20% in', 'FY24 as compared', 'to FY23', 'FY24 ASP up 1.6x', 'FY20 ASP;', 'underlining', 'premiumization trend', 'Opened 1.5x more', 'stores compared to', 'FY23, with 40 new', 'stores in FY24', 'Key Highlights...', '9Targeting to grow at 20 -25% Revenue CAGR over the next 3 – 5 years', 'Progressing towards Central UP from Eastern UP . Business is ready to scale beyond Bihar, Jharkhand &', 'Uttar Pradesh to adjoining states in the “Hindi Heartland” over the next 3 -5 years based on “Creeping', 'Cluster Approach”', 'Reinvest our Growth Capital raised and cashflows at a High ROIC to target the large opportunity in the', 'Hindi heartland', 'Focus on scaling up mid and premium -priced categories thereby improving per -store economicsRoadmap Ahead', '10', 'BUSINESS OVERVIEW', 'Aditya Vision at a Glance', '11Patna', 'Headquarters', '150', 'Showrooms', 'As on 30th June', '4,000+', 'Avg store size', '6,17,800', 'Sq Ft', 'Retail footprint as', 'of Q1FY25Largest Electronic', 'Retailer', 'in Jharkhand10,000+', 'Products sold at our', 'Outlets100% Retail', 'Sales', '100+', 'Long Term Relationships', 'with OEMsRs 282 cr', 'First fund raise after IPO in FY24.', 'Rs.5.8 crore raised during IPO1st Consumer', 'Electronics Retailer', 'To be listed50%+ Mkt Share', 'In Bihar as per Crisil Report', '2016', 'Listed on BSE', 'Mobile', 'Phones &', 'Tablets', 'Cameras', 'Home', 'Theatres', 'Televisions', 'Soundbars', 'Cooktops', 'Chimneys', 'Microwaves', 'Refrigerators', 'Washing', 'Machines', 'Air', 'Conditioners', '25 years of Aditya Vision – Sambandh  Bharose  ka', '12', '8 years Revenue CAGR – 28% *150 Stores as on 30th June240362444564797 7488991,3221,743', '114192838436479105145', '1999 2016 2017 2018 2019 2020 2021 2022 2023 2024', 'Revenue (Cr.) Store Count', '1999:', 'Established  1st', 'store in  Patna,', 'Bihar*', '2014: Initiated', 'Expansion', 'outside Patna', '2016: 1st Consumer Electronics Company to be listed', 'on Exchange', '2019: Revenues INR 500+ Cr', '2021: Established Market Dominance', 'in Bihar - 50%+ Market Share', '2022: Started expanding in Jharkhand', '2023: Started expanding in UP ;', 'Became the largest organized player in Jharkhand in one year', '2024: First fund raise after IPO from the one of the World’s largest FII – Capital Group', 'Opened 18 stores in UP in one year', 'Crossed 100 stores in Bihar', 'Inception to IPO Scaling Up in Bihar Accelerating Growth Trajectory', '13Our 5 Driving Principles', 'Customer -centric', 'approach  based on', 'providing Best', 'Range, Lowest Price,', 'Fast Installation and', 'Great After Sales', 'ServiceLarge Supplier', 'base (Brands)', 'selling their', 'products at ScaleScaling up business', 'to pass on better', 'prices to customers', 'and create a', 'relationship of a', 'lifetime “Sambandh', 'bharose  ka”Prudent Capital', 'Allocation with', 'Strong Corporate', 'Governance &', 'Growth for all', 'StakeholdersBuilding a people -', 'centric culture within', 'a technology -driven', 'business, supported', 'by Customer -centric', 'Approach .', 'Unique Business Model', '14', 'OEM Supply Customer', 'Service', 'Strong Financial', 'ManagementExpanding', 'FootprintOEM Supply', '▪ 85% Direct OEM Supply leading', 'to higher margins', '▪ 15% Distributors/C&F Agents', '▪ Long -term relationships with', '100+ brands', '▪ No private labelsCustomer Service', '▪ Aditya Seva - One -stop solution for', 'after -sales services.', '▪ Aditya Suraksha – Allows customers to', 'enjoy an extended warranty', '▪ Customer Loyalty Reward Program –', 'Buy & Win since 2012', 'Strong Financial Management', '▪ Net debt free balance sheet', '▪ Operates on a cash -and-carry', 'model', '▪ Efficient inventory management', 'and high cash reserves▪ Bihar – 105 stores', '▪ Jharkhand – 25 stores', '▪ Uttar Pradesh – 20 storesExpanding Footprint', 'Store Unit Economics At A Glance', '15Rs 60 -70 lacs', 'Average Capex per Store', '---------------------------------------------------150 (as on 30th June)', 'Outlets in Bihar + Jharkhand + UP', '-----------------------------------------------13-15%', 'Gross Margin Range', '-----------------------------------------', 'Rs 2.25 – 2.50 cr', 'Average Working Capital per Store', '-----------------------------------------------6 - 8 months', 'Average Store Level Break Even', '--------------------------------------------3 years', 'Payback Period', '--------------------------------------', 'Rs 1.20+ cr (in FY24)', 'Productivity Per Employee', '-----------------------------------------------Rs 45,000+', 'Revenue Per Sq Ft for FY24*', '--------------------------------------------Rs ~2,100', 'Average PBT per Sq Ft for FY24**', '------------------------------------------', '**PBT is Calculated on Average of Opening & Closing Square Feet for FY24', '*For calculation of revenue per square feet, we have considered net revenue of stores operational for atleast  12 months as of March 31, 2024.', 'Business Economics', '16(% of Sales) FY20 FY21 FY22 FY23 FY24', 'Gross Margin (%) 11% 12% 16% 16% 16%', 'Employee Cost 3% 3% 3% 3% 3%', 'Rent* 1% 2% 2% 2% 2%', 'Advertisement & Publicity 1% 1% 1% 1% 1%', 'Hospitality 0.1% 0.1% 0.5% 0.4% 0.3%', 'Electricity & Power Cost 1% 0% 1% 1% 1%', 'Misc  Other Expenses 1% 1% 1% 1% 1%', 'Expenses as a % of Revenue 8% 7% 9% 8% 8%\uf0feGross Margin has increased with scale', '\uf0feLow store -level employee cost', '\uf0feAverage rent of Rs 2 – 2.25 lacs p.m/store.', '\uf0feAdvertisement cost common to all stores across states', '\uf0feControl over miscellaneous expenses\uf0feEfficient power consumption\uf0feHospitality costs incurred for the launch of stores &', 'customer loyalty programs', '*This represents actual rent paid by the company', '17Strategic Focus on Hindi Heartland Region', 'Zero Store Closure since Inception', 'Present StatesV', 'UTTAR PRADESH - 20 STORES', '(14 Districts Covered out of 75 Districts )JHARKHAND - 25 STORES', '(20 Districts Covered out of 24 Districts )BIHAR - 105 STORES', '(Present in all 38 districts ) People living in Bihar, Jharkhand & UP', 'constitute 30% of India’s Population', '•Estimated Population of Bihar: 13 crores', '•Estimated Population of UP: 24 Crores', '•Estimated Population of Jharkhand: 4 Crores', 'VV', 'Revenue Seasonality of the Business', '18Peak Summer Season + Marriage Season + Strong', 'Demand for Cooling Products + Major Stocking up prior', 'to this quarter', '22%24%19%35%', 'Q4Q3Q2Q1Quarterly Share of Revenue(%)', 'Weaker Quarter owing to Monsoon + Shraadh  months', 'Festive Season with attractive Brand Offers', 'Marriage Season + Pre summer sales + End of year sales', 'by brands', '*Average of FY23 & FY24', '19', 'HISTORICAL', 'PERFORMANCE', '20Historical Financial Highlights', '1.21.5', '1.4', '0', 'FY21 FY22 FY23 FY24Net Debt to EBITDA (x)', '1.31.6', '1.4', '0', 'FY21 FY22 FY23 FY24Net Debt to Equity (x)', '(Rs. in Cr)CAGR – 57%', '20356477', 'FY21 FY22 FY23 FY24PAT', '2.7% 3.9% 4.9% 4.4% Margins 7488991,3221,743', 'FY21 FY22 FY23 FY24Revenue', 'CAGR: 33%', '5383133167', 'FY21 FY22 FY23 FY24EBITDA', '7.1% 9.2% 10.1% 9.6%CAGR: 47%', '21Historical Financials and Operational Performance', '250320433588', 'FY21 FY22 FY23 FY2418,813 20,173 21,156 22,150', 'FY21 FY22 FY23 FY24Retail Footprint ( Sq ft in 000)Average Selling Price (Rs .)', '376429617787', 'FY21 FY22 FY23 FY24Bill Cuts (000 in Nos.)', '**FY21 & FY22 were Pandemic years106988391 87', '45', '17 1319536677', 'FY21 FY22 FY23 FY24', 'Inventory Days Payables Days WC DaysWorking Capital Days*', '*Receivable Days are less than 0 since the Company has negligible Trade Receivables', '**Payables & Inventory Days is calculated based on Purchases and Cost of Goods Sold respectively', 'CAGR: 33% CAGR: 28% CAGR: 6%', '48%', '29%', '24%28%24%43%46%55%60%', '25%', '2020 2021 2022 2023 2024**ROCE & ROE* (%)', 'ROCE', 'ROE', 'This has translated into Superior  Shareholder’s WealthFocussed on Growth', 'High Growth Trajectory while maintaining Return Ratios', '2210.7%12.3%15.8% 16.0% 16.0%', '2020 2021 2022 2023 2024Gross Margin %', 'With Size, our Gross Margins have improved keeping', 'customer value in focus.', '1.8%2.7%3.9%4.9%4.4%', '2020 2021 2022 2023 2024PAT Margin %', 'Our PAT Margin has improved due to improvement in', 'gross margin and operating leverage', '*FY21 onwards is Post IndAS**ROE has come down due to Growth Capital raised in FY24', '23', 'Industry Overview', "Powering India's Retail Surge: Driving Consumer", 'Spending Growth', 'Shift in Consumption Pattern towards Non -Food Categories', '% share of monthly per capita consumption exp', '4.9%5.6%6.9% 7.2%', 'Rural Urban2011-12', '2022-23200 bps', '✓ National Sample Survey recently', 'released Household Consumption', 'Expenditure Survey 2023 highlighting', 'increased spending towards consumer', 'durables', '✓ Increasing financing options and no cost', 'EMIs helping to boost consumption✓ Rising temperatures to have a', 'significant impact on the growth', 'of the consumer durables', 'market, particularly the room Acs', 'and Refrigerators', '✓ Increasing smart appliances', 'adoption in youths and urban', 'areas supporting premiumization160 bpsResulting in increased spending on consumer durables', 'Source: F&S, CRISIL Research, MoSPI2.1 2.43.13.65.1', 'FY17 FY21 FY22 FY23P FY27PConsumer Durables Market Growth (Rs Trn)', 'CAGR 8%CAGR', '11-15%', '27%', '22%', '15%14%', '13%', '6%3%', 'APAC China Europe Middle East', '& AfricaNorth', 'AmericaLATAM IndiaGlobal Consumer Durables Market Penetration (CY22 - Market Size – $555 bn)', 'India stands at only 3% as compared to Global Penetration', '2447%57%54%61%', 'Rural Urban', 'Axis Title2011-12', '2022-23400bps700ps', '25', '✓ Premium products are', 'associated with quality,', 'and physical stores help', 'enhancing the', 'perception of a brand by', 'providing a tangible,', 'luxurious environment✓ Personalized and', 'high -touch', 'customer', 'experience that', 'brick -and-mortar', 'stores excel at', 'providing✓ Good after sale', 'service plays a', 'major role while', 'buying a high ticket', 'itemPenetration in India (%)Low Penetration and Rising premiumization is in', 'favor for AVL', 'Source:  CRISIL Research, Technopak reportFrost Free Refrigerators (More than 270 L)', '48%53% -55%', 'FY17 FY22Demand for Fully Automated', 'WMs continuously rising', '43%38%57%62%Semi Fully', 'FY22 FY17', 'Share of Bigger Size TV Increasing', 'FY17 FY22Share of Split ACs is on a rise', '27%19%73%81%Window Split', 'FY22 FY17', '85%78%15%22%<32" >32"60%', '35%', '10%8%6%', 'Television Refrigerator Washing', 'MachineAC Water Purifier', '26Market Penetration & Opportunity in Hindi Heartland', 'Source: www.statsofindia.in   , Business Standard', '27Source: Central Electricity Authority, MoSPIElectricity  Consumption Growth In Hindi Heartland Sates vs Other States has grown', 'by 2x', 'FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23', 'Bihar Jharkhand Uttar Pradesh Maharashtra Gujarat~2.1x', '~1.7x', '~1.6x', '~1.4x', '~1.3x211%', '171%', '164%', '139%', '130%', '100%', '*The starting point for all the states has been indexed to100%', '28Hindi Heartland – Engine for Aditya Vision’s', 'Sustainable Growth', 'UP’s High Aspirations:', 'oTargeting to reach $1 trillion economy by 2027.', 'oSteadily moving from Agri -focused state to Manufacturing hub', 'o4th largest contributor to GST collections - Overtook Tamil', 'Nadu by recording a 19% rise in tax revenues in April’24', 'oInstalled power capacity doubled to 29GW (FY14 -22);', 'electricity consumption rose >50% to 143bn units (FY15 -23).', 'UTTAR', 'PRADESHIndia’s 3rd largest', 'economy - 8%', 'contribution to', 'National GDP', '.Ranked 7th in the', 'total credit', 'outstanding in FY23', 'vs 12th  in FY17Breached $1000', 'GDP per capita', 'mark in FY24', 'Big positive for serval sectors', 'including Consumer Durables', 'IndustryRanked 11th in', 'India in terms of FDI', 'inflows', 'Source: Annual Report, Industry Data', 'Jharkhand’s  per capita  income', 'increased  from  Rs 71,071 in 2020 -', '21 to Rs 78,660 in 2021 -22.', 'Attractive economics of Bihar and Jharkhand', 'Bihar  is 9% of India’s  Population  at', '13.07cr; second  largest  in India', 'population  wiseIn the recent  Union  Budget,  govt', 'announced  Rs 58,900cr allocation  for', 'Bihar’s  development  focusing  on', 'infrastructure', 'Bihar’s  per capita  income  increased', 'to Rs 54,383 during  2022 -23  from', 'Rs 47,770 in 2021 -22', '29Shift from Unorganised  to Organised :', 'Aditya Vision is well Positioned to benefit', '✓ Established', 'reputation and', 'reliability influence', 'customers', 'preferences✓ Deeper and Strong', 'relations with OEMs', 'ensures low cost', 'purchasing and', 'higher margins ✓ Diverse and', 'latest Product', 'offering ensures', 'strong footfallRapid Shift from Overall Un -Organised to Organised sector in Indian', 'Consumer’s Durable Industry', '49%58%77%51%42%23%Organised Unorganised', 'FY27P FY16 FY21', 'FY22 FY27P', 'Source: CRISIL Research3.105.10', '1.673.57Overall Consumer Electronics Industry Organised ShareOrganised Sector to Grow Faster than Overall Consumer Electronics Retail Industry', '(Rs Trn)', '30', 'APPENDIX', '31', 'Our Trade Partners Our Consumer Finance Partners', '~41% Sales Financed in FY24', '32Board of Directors', 'Yashovardhan  Sinha', 'Chairman & Managing Director', '✓Promoter,  Chairman  and', 'Managing  Director', '✓Has a wealth  of experience  in', 'Consumer  Electronics  Retail  and', 'Banking .', '✓Responsible  for the overall', 'growth  and advancement  of the', 'venture  as well as key decisions', '✓Member  of the Board  since  31st', 'March  2009  and Managing', 'Director  since  16th May  2016 .', 'Nishant Prabhakar', 'Whole Time Director', '✓Promoter  and Whole -time', 'Director  with  19+ years  of', 'experience  in Consumer', 'Electronics  Retail .', '✓Responsible  for operations  of', 'the Company  and expanding  the', 'consumer  electronics  product', 'base .', '✓Board  Member  since  1st April', '2005  and Whole  Time  Director', 'since  22nd September  2016 .', 'Yosham Vardhan', 'Whole Time Director', '✓Promoter  and Whole -time', 'Director', '✓Responsible  for developing  and', 'executing  the company’s  business', 'strategy  as well as Investor', 'Relations', '✓9+ years  of experience  as a cross', 'border  lawyer  in leading  law firms', 'advising  on Mergers  & Acquisitions', 'and Private  Equity  transactions', 'Sunita Sinha', 'Non -Executive Director', '✓ Founder,  Promoter  and Non -', 'Executive  Director', '✓ Responsible  for day to day', 'operations  and managing', 'customer  relationship', '✓ Member  of the Board  since', 'incorporation  of the Company', '33Independent Directors', 'Atul Sinha', 'Independent Director', '✓35+ years  at UCO  Bank  in', 'various  capacities  including', 'General  Manager  and various', 'other  capacities  across  the', 'country', '✓Worked  as Chief  Vigilance', 'Officer  for National  Housing', 'Bank,  IFCI Ltd. & Oriental', 'Bank  of Commerce', 'Rahul Kumar', 'Independent Director', '✓Qualified  professional', 'having  CS and LLB degrees', '✓Advise  management  on', 'corporate   issues  with  respect', 'to the Companies  Act, SEBI', '(LODR),  SEBI  (SAST),  and', 'Foreign  Exchange', 'Management  Act', '`', 'Nusrat Syed Hassan', 'Independent Director', '✓Managing  Director  at', 'Dentons  Link Legal,  leading', 'international  law firm', '✓3 decades  of experience  as', 'a practicing  Corporate', 'Lawyer  in Cross-border', 'transactions  and Dispute', 'Resolution', 'Ravinder Zutshi', 'Independent Director', '✓45+ years  of experience  in', 'the Indian  Consumer', 'Durables  and Electronics', 'Industry .', '✓Worked  with  LG Electronics', 'India  Pvt. Ltd. & with  Havells', 'India  Limited ; Superannuated', 'after  19 yrs from  Samsung', 'India  Pvt Ltd', 'Apeksha  Agiwal', 'Independent Director', '✓Highly  qualified', 'professional  & Member  of the', 'ICAI  ; Is in whole  time  practice', 'at Agiwal  & Company  since', '2014', '✓Works  in corporate  and', 'non-corporate  Direct  &', 'Indirect  Tax, Financial', 'Management  & Bank  Audits', 'In-Store Photo Gallery', '34', '35Thank You', 'For further information, please get in touch with:', 'Aditya Vision Ltd.', 'Ms. Akanksha Arya -Company Secretary', 'Tel: +91 -612-2520854 |', 'Email: cs@adityavision.in', 'www.adityavision.in', 'Investor Relations Contact:', 'Monali Jain – Research Analyst', 'Tel: +91 -8078675682', 'Email: monali@goindiaadvisors.com', 'Sheetal Khanduja – Head, Strategy & IR', 'Tel: +91 -976-9364166', 'Email: sheetal@goindiaadvisors.com', 'www.goindiaadvisors.com']