Share price of this large-cap stock and one of the largest food & grocery retailers in India moved up by 2.7 percent on BSE to hit an intraday high at Rs. 4,734.65 on the trading session of Monday, after reporting a rise in the net profit by 22.4% YoY and revenue from operations by 20% YoY.
With a market capitalisation of Rs. 2.99 lakh crore, the stock has delivered positive returns of nearly 24.8 percent in the last one year and 25.7 percent in the last six months. So far in 2024, the company has given 12.8 percent of positive returns.
The fluctuations in the share prices were observed after Avenue Supermarts Limited announced the financial results for Q4 FY23-24 and FY24, through the recent filings with the stock exchanges.
The revenue from operations grew by 20 percent YoY from Rs. 10,594.11 crore in Q4 FY22-23 to Rs. 12,726.55 crore in Q4 FY23-24, however, it decreased by 6.2 percent QoQ from Rs. 13,572.5 crore in Q3 FY23-24 to Rs. 12,726.55 crore in Q4 FY23-24.
The consolidated net profit of the company stood at Rs. 563.14 crore in Q4 FY23-24, increasing 22.4 percent YoY from Rs. 460.1 crore in Q4 FY22-23, but decreasing by 18.4 percent QoQ from Rs. 690.41 crore in Q3 FY23-34.
Earnings before Interest, Tax, Depreciation and Amortization or EBITDA in FY24 stood at Rs. 4,104 crore, as compared to Rs. 3,637 crore during FY22-23, while the EBITDA margin stood at 8.1 percent in FY23-24 as compared to 8.5 percent in FY22-23.
Basic Earnings per share (EPS) for Q4 FY23-24 stood at Rs. 8.66, as compared to Rs. 7.10 for Q4 FY22-23.
Last week, the company opened a new store at Abrama, Valsad (Gujarat), and the total number of stores as on date stands at 367.
As of March 2024, FIIs hold 8.26 percent of the shares, whereas DIIs hold 8.51 percent of the shares in the company, aggregating to 16.77 percent of the institutional holdings.
Avenue Supermarts Limited is a Mumbai-based company, which owns and operates D-Mart stores. D-Mart is a national supermarket chain that provides customers with a range of home and personal products under one roof.
It follows the Everyday low cost – Everyday low price (EDLC-EDLP) strategy aiming at procuring goods at competitive prices, using operational and distribution efficiency.
The company offers a wide range of products with a focus on Foods, Non-Foods (FMCG) and general merchandise & apparel product categories.
Written by Shivani Singh
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