Avenue Supermarts Ltd

Avenue Supermarts is primarily engaged in the business of organized retail and operates supermarkets under the brand name of D-Mart.(Source : 201903 Annual Report Page No: 153)

Pros:
Company is virtually debt free.
Company has good consistent profit growth of 40.91% over 5 years
Cons:
Stock is trading at 19.22 times its book value
Though the company is reporting repeated profits, it is not paying out dividend

Peer Comparison Sector: Retail // Industry: Trading

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019
3,114 4,576 4,893 5,474 5,062 5,815 5,991
2,915 4,153 4,505 5,025 4,689 5,218 5,473
Operating Profit 199 423 388 450 372 597 517
OPM % 6% 9% 8% 8% 7% 10% 9%
Other Income 9 14 14 8 13 11 8
Interest 31 10 10 15 12 18 19
Depreciation 36 43 48 56 66 83 92
Profit before tax 140 383 344 387 308 507 415
Tax % 39% 36% 36% 36% 38% 36% 22%
Net Profit 91 245 219 247 192 323 323
EPS in Rs 1.46 3.98 3.50 3.96 3.07 5.18 5.17
Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
2,209 3,341 4,686 6,439 8,584 11,898 15,033 20,005 22,341
2,071 3,126 4,345 5,981 7,920 10,929 13,680 18,371 20,405
Operating Profit 138 215 342 458 664 968 1,353 1,633 1,936
OPM % 6% 6% 7% 7% 8% 8% 9% 8% 9%
Other Income 14 14 16 18 18 29 88 48 40
Interest 26 43 56 72 91 122 60 47 64
Depreciation 37 46 57 82 98 128 159 212 296
Profit before tax 89 141 245 323 492 747 1,222 1,422 1,616
Tax % 32% 34% 34% 34% 35% 36% 34% 37%
Net Profit 60 94 161 212 320 479 806 903 1,085
EPS in Rs 7.67 12.92 14.46 17.38
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:%
5 Years:33.68%
3 Years:32.58%
TTM:33.07%
Compounded Profit Growth
10 Years:%
5 Years:40.91%
3 Years:41.01%
TTM:12.80%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:%
1 Year:39.06%
Return on Equity
10 Years:%
5 Years:18.56%
3 Years:17.92%
Last Year:17.45%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Sep 2019
534 544 547 562 562 624 624 624 624
Reserves 148 245 409 638 959 3,218 4,045 4,963 5,612
Borrowings 381 526 641 904 1,192 1,497 439 700 825
130 177 212 252 390 483 552 722 1,369
Total Liabilities 1,192 1,493 1,809 2,356 3,103 5,822 5,660 7,010 8,430
779 925 1,172 1,528 2,094 2,578 3,400 4,400 5,189
CWIP 85 118 89 98 82 153 147 377 404
Investments 23 16 16 15 29 26 68 17 100
306 434 533 715 899 3,066 2,045 2,216 2,737
Total Assets 1,192 1,493 1,809 2,356 3,103 5,822 5,660 7,010 8,430

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
65 127 198 222 433 455 730 807
-129 -231 -270 -474 -633 -2,482 464 -958
93 118 65 234 196 2,025 -1,159 209
Net Cash Flow 30 14 -7 -17 -3 -1 34 57

Ratios Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 15% 21% 21% 24% 21% 24% 26%
Debtor Days 1 1 1 0 0 1 1 1
Inventory Turnover 14.16 14.32 14.03 14.17 14.69 14.24 14.43