Aditya Vision's Q1 same-store sales rebound to 18%
Standalone operating margin of 10.44% trailed the 14.74% median of 46 reported Consumer Discretionary peers.
Filed 31 Jul 2026, 15:10 IST · Aditya Vision Ltd (AVL)
Key takeaways
- Same-store sales growth rebounded to 18% in Q1FY27, according to the company's presentation.
- Standalone operating margin of 10.44% was 4.3 percentage points below the 14.74% median for 46 reported sector peers.
- Management said new stores take about three years to mature, while the company added 102 stores during FY24-FY26.
Price around the results
Same-store growth lifts the Q1 operating picture
Aditya Vision reported standalone operating profit of Rs 124.48 cr on revenue of Rs 1,192.68 cr in Q1FY27, with net profit at Rs 77.22 cr. The more useful business signal was the company's disclosure that same-store sales growth rebounded to 18% during the quarter.
Margin remains below the sector peer set
Operating margin was 10.44%, versus a 14.74% median for the 46 Consumer Discretionary peers that had reported, leaving Aditya Vision 4.3 percentage points below the sector median. Management said new stores take about three years to mature and create a short-term operating-expense impact, providing context for the margin profile during a period of rapid store additions.
Expansion continues across new markets
Management said the company plans to enter Madhya Pradesh and select peripheral markets of West Bengal in FY27. The presentation also said Aditya Vision expanded into Chhattisgarh and opened 18 stores in Uttar Pradesh in one year. Management reported that the company added 102 stores during FY24-FY26.
Inventory reduction is another operating signal
The company said inventory fell by Rs 177 cr to Rs 663 cr in Q1FY27. Its presentation also said Aditya Vision became the largest organised player in Jharkhand within one year, linking the store network expansion with a larger regional footprint.
Q1FY27 at a glance
Standalone figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹1,193 cr |
| Other income | ₹2 cr |
| Expenses | ₹1,068 cr |
| Operating profit | ₹124 cr |
| Operating margin (%) | 10.44% |
| Interest | ₹11 cr |
| Depreciation | ₹12 cr |
| Profit before tax | ₹103 cr |
| Tax | ₹26 cr |
| Net profit | ₹77 cr |
| EPS (₹) | ₹5.98 |
Operating margin of 10.44% compares with a Consumer Discretionary sector median of 14.74% across 46 peers that have reported Q1FY27.
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
This quarter
- Same-store sales growth rebounded to 18% in Q1FY27.
- Inventory reduced by Rs. 177 Cr to Rs. 663 Cr in Q1FY27.
Guidance & outlook
- The company plans to enter Madhya Pradesh and select peripheral markets of West Bengal in FY27.
Expansion
- Aditya Vision expanded into Chhattisgarh.
- The company added 102 stores during FY24-FY26.
- The company opened 18 stores in Uttar Pradesh in one year.
Competition
- Aditya Vision became the largest organized player in Jharkhand in one year.
Problems & risks
- New stores take about three years to mature, creating a short-term opex impact.
What to watch
- Whether same-store sales growth remains at 18% or changes in the next quarter.
- Whether operating margin moves closer to the 14.74% sector median.
- Whether inventory stays near Rs 663 cr as the company expands into new markets.