Avenue Supermarts Ltd

About

Avenue Supermarts is primarily engaged in the business of organized retail and operates supermarkets under the brand name of D-Mart.(Source : 202003-01 Annual Report Page No:111)

Key Points

Store Network [1]
Avenue Supermarts operates 234 stores across 11 states and one union territory with a 11.8 million square ft retail business area. AVL has its highest presence in Maharashtra with 58 stores and followed by Gujarat with 26 stores. Presence is limited to western and southern Indian States as the company follows cluster based expansion resulting in low cost structure. [2]

See full details
  • Market Cap 344,859 Cr.
  • Current Price 5,324
  • High / Low 5,599 / 1,949
  • Stock P/E 251
  • Book Value 196
  • Dividend Yield 0.00 %
  • ROCE 12.7 %
  • ROE 9.45 %
  • Face Value 10.0

Pros

  • Company is almost debt free.

Cons

  • Stock is trading at 27.16 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 13.16% for last 3 years.

Peer comparison

Sector: Retail Industry: Trading

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
5,474 5,062 5,815 5,991 6,809 6,256 3,883 5,306 7,542 7,412 5,183 7,789
5,025 4,689 5,218 5,473 6,212 5,839 3,771 4,977 6,853 6,799 4,959 7,120
Operating Profit 450 372 597 517 597 417 112 330 689 613 224 669
OPM % 8% 7% 10% 9% 9% 7% 3% 6% 9% 8% 4% 9%
Other Income 8 13 11 8 6 35 51 52 45 48 31 28
Interest 15 12 18 19 18 14 9 9 11 12 11 12
Depreciation 56 66 83 92 95 105 95 101 114 105 107 116
Profit before tax 387 308 507 415 490 333 59 272 609 544 137 568
Tax % 36% 38% 36% 22% 22% 19% 32% 27% 27% 24% 31% 26%
Net Profit 247 192 323 323 384 271 40 199 447 414 95 418
EPS in Rs 3.96 3.07 5.18 5.17 6.12 4.19 0.62 3.07 6.90 6.39 1.47 6.45

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 Mar 2020 Mar 2021 TTM
2,209 3,341 4,686 6,439 8,584 11,898 15,033 20,005 24,870 24,143 27,926
2,071 3,126 4,345 5,983 7,919 10,929 13,680 18,371 22,742 22,398 25,731
Operating Profit 138 215 341 456 664 969 1,353 1,633 2,128 1,745 2,195
OPM % 6% 6% 7% 7% 8% 8% 9% 8% 9% 7% 8%
Other Income 14 15 16 20 17 28 88 48 60 194 152
Interest 26 43 56 72 91 122 60 47 69 42 47
Depreciation 37 46 57 82 98 128 159 212 374 414 442
Profit before tax 89 141 245 323 492 747 1,222 1,422 1,745 1,483 1,858
Tax % 32% 34% 34% 34% 35% 36% 34% 37% 25% 26%
Net Profit 60 94 161 212 320 479 806 903 1,301 1,099 1,374
EPS in Rs 1.13 1.73 2.95 3.77 5.70 7.67 12.92 14.46 20.09 16.97 21.21
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years:%
5 Years:23%
3 Years:17%
TTM:25%
Compounded Profit Growth
10 Years:%
5 Years:28%
3 Years:12%
TTM:54%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:60%
1 Year:168%
Return on Equity
10 Years:%
5 Years:14%
3 Years:13%
Last Year:9%

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 Mar 2020 Mar 2021 Sep 2021
534 544 547 562 562 624 624 624 648 648 648
Reserves 148 245 409 638 959 3,218 4,045 4,963 10,432 11,536 12,049
Borrowings 381 526 641 904 1,192 1,497 439 700 333 393 510
128 176 211 251 389 480 540 718 663 1,079 1,130
Total Liabilities 1,191 1,492 1,808 2,355 3,102 5,819 5,648 7,006 12,076 13,655 14,338
779 925 1,172 1,528 2,094 2,578 3,400 4,400 5,948 7,009 7,626
CWIP 85 118 89 98 82 153 147 377 364 1,020 1,225
Investments 23 16 16 15 29 26 68 17 15 3 7
304 433 532 713 897 3,063 2,033 2,212 5,749 5,624 5,480
Total Assets 1,191 1,492 1,808 2,355 3,102 5,819 5,648 7,006 12,076 13,655 14,338

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 Mar 2020 Mar 2021
65 127 198 222 433 455 730 807 1,280 1,375
-129 -231 -270 -474 -633 -2,482 464 -958 -4,657 -1,110
93 118 65 234 196 2,025 -1,159 209 3,357 -180
Net Cash Flow 30 14 -7 -17 -3 -1 34 57 -19 86

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 1 1 1 0 0 1 1 1 0 1
Inventory Days 38 35 35 36 34 34 34 35 34 40
Days Payable 12 12 11 8 10 9 9 10 8 10
Cash Conversion Cycle 26 25 24 28 24 26 25 26 26 30
Working Capital Days 19 19 20 22 18 20 21 22 24 24
ROCE % 15% 21% 21% 24% 21% 24% 26% 20% 13%

Shareholding Pattern

Numbers in percentages

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
81.20 81.20 81.20 80.21 79.73 74.99 74.99 74.99 74.99 74.99 74.99 74.99
5.86 5.91 5.47 6.03 6.21 9.62 10.42 10.27 10.09 10.17 10.04 9.95
3.09 3.20 3.57 4.80 4.72 6.56 5.98 6.11 6.71 6.58 6.71 6.78
9.84 9.68 9.75 8.96 9.34 8.83 8.61 8.63 8.21 8.26 8.26 8.29

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