Slide 1: Aditya Vision Limited
R Aditya Vision Limited R R R Date- January 27, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza Dalal Street Bandra Kurla Complex, Bandra (East) Mumbai-400 001 Mumbai- 400051 Scrip Code: 540205 Symbol-AVL Sub:- Submission of Investor Presentation De
Slide 2: Investor Presentation Q3 FY26, January 2026
Investor Presentation Q3 FY26, January 2026
Slide 3: Disclaimer
Disclaimer This 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
Slide 4: Contents
Contents Q3 & 9M FY26 Highlights Business Overview Historical Performance Industry Overview Appendix Q3 & 9M 2026 Investor Presentation
Slide 5: Q3 FY26: Robust Execution
Q3 FY26: Robust Execution Festive Demand & Volume Pick-up propel AVL into its next growth orbit Strong Q3 Performance Amid Festive Season & GST Reforms • Aditya Vision delivered a robust Q3 performance, with revenue up 28% YoY, driven by festive season and post–GST 2.0 demand uptick. Profitability a
Slide 6: Q3 & 9M FY26 Financials
Q3 & 9M FY26 Financials Gaining Market Share (Rs. Cr) Revenue EBITDA PBT A d j u s t e d PAT * 27.6% 13.8% 20.8% 17.5% 649 53 28 Q3FY26 508 47 38 24 31 Q3FY25 Q3FY26 Q3FY25 Q3FY26 Q3FY25 Q3FY26 Q3FY25 Q3FY26 Margins 9.2% 8.2% 6.1% 5.8% 4.8% 4.4% 7.6% 15.4% 9.7% 7.3% 2,047 162 177 128 96 9MFY26 1,773
Slide 7: Q3 & 9M FY26 Financial Performance
Q3 & 9M FY26 Financial Performance Particulars (Rs. Cr) Q3FY26 Q3FY25 YoY% 9MFY26 9MFY25 YoY% Revenue from Operations 649 508 27.6% 2,047 1,773 15.4% COGS 547 429 27.3% 1,731 1,501 15.4% Gross Profit 102 79 29.2% 315 272 15.8% Gross Margin % 15.8% 15.6% 20 bps 15.4% 15.4% 5 bps Other Expenses 49 33
Slide 8: AVL's Loyalty Program – Buy & Win 2025
AVL’s Loyalty Program – “Buy & Win 2025” 7
Slide 9: Key Catalysts
Key Catalysts Demand strengthening amid the macro tailwinds Trigger Description Revenue Impact Mechanism ₹10,000 direct transfer under Mukhyamantri Mahila Rojgar Yojana for ~1.30 Cr women Boosts rural cash flows → higher disposable 1. Direct Benefit Transfer to Women amounting to ₹13,000Cr of fresh
Slide 10: Positioned to Deliver
Positioned to Deliver Built on Consistency, Geared for the Future Expanded to Central UP; 106cr scaling across Hindi Heartland via Creeping Cluster in 3–5 years 167 204cr 21cr Reinvesting growth capital and cashflows at high ROIC to capture the Hindi 2,260cr 42cr Heartland opportunity 748cr Focus on
Slide 11: Contents
Contents Q3 & 9M FY26 Highlights Business Overview Historical Performance Industry Overview Appendix Q3 & 9M 2026 Investor Presentation
Slide 12: Aditya Vision at a Glance
Aditya Vision at a Glance Patna Showrooms Retail footprint as Headquarters 192 As on 31th Dec 4,250+ Avg store size (sq ft) ~8.3 Lakh Sq ft of Q3FY26 50%+ Mkt Share 10,000+ In Bihar as per Crisil Report Products sold at our stores Largest Electronic Retailer 100% Retail in Jharkhand Sales 1st Consum
Slide 13: Aditya Vision – Sambandh Bharose ka
Aditya Vision – Sambandh Bharose ka FY 2025: Listed on NSE, Started expanding in Central UP FY 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 FY 2016: 1st Consumer Electronics Company to FY 2023
Slide 14: Our Driving Principles
Our 5 Driving Principles Customer-centric approach based on providing Best Range, Lowest Price, Fast Installation and Great After Sales Service Large Supplier base (Brands) selling their products at Scale Scaling up business to pass on better prices to customers and create a relationship of a lifeti
Slide 15: Unique Business Model
Unique Business Model OEM Customer Strong Financial Expanding Supply Service Management Footprint • 85% Direct OEM • Aditya Seva - One- • Low debt balance • Bihar - 117 stores Supply leading to stop solution for sheet • Jharkhand - 33 stores higher margins after-sales services • Operates on a cash -
Slide 16: Store Unit Economics At A Glance
Store Unit Economics At A Glance Rs 80-90 lacs 192 13-15% Average Capex per Store Stores in Bihar + Jharkhand + UP Gross Margin Range Rs 2.75 – 3.00 Cr 7 - 9 months 3 years Average Working Capital per Store Average Store Level Break Even Payback Period Rs 1.10+ Cr (in FY25) Rs ~45,000 Rs ~2,100 Prod
Slide 17: Business Economics
Business Economics (% of Sales) FY20 FY21 FY22 FY23 FY24 FY25 Gross Margin (%) 11% 12% 16% 16% 16% 16% Gross Margin has increased with scale Employee Cost 3% 3% 3% 3% 3% 3% Low store-level employee cost Rent* 1% 2% 2% 2% 2% 2% Average rent of Rs 2.25-2.50 lacs p.m/store Advertisement & 1% 1% 1% 1% 1
Slide 18: Strategic Focus on Hindi Heartland Region
Strategic Focus on Hindi Heartland Region Present States Uttar Pradesh 42 STORES (In 24 cities; 24 Districts covered out of 75 Districts) BIHAR 117 STORES (Present in 69 cities in all 38 districts) JHARKHAND 33 STORES (In 25 cities; 22 Districts covered out of 24 Districts) People living in Bihar, J
Slide 19: Revenue Seasonality of the Business
Revenue Seasonality of the Business Quarterly Share of Revenue (%)* Peak Summer Season + Marriage Season + Strong Q1 36% Demand for Cooling Products + Major Stocking up prior to this quarter Q2 Weaker Quarter owing to Monsoon + Shraadh 18% months Q3 23% Festive Season with attractive Brand Offers Q4
Slide 20: Contents
Contents Q3 & 9M FY26 Highlights Business Overview Historical Performance Industry Overview Appendix Q3 & 9M 2026 Investor Presentation
Slide 21: Historical Financial Highlights
Historical Financial Highlights (Rs. in Cr) Revenue EBITDA & EBITDA Margins PAT & PAT Margins* CAGR: CAGR: CAGR: 36% 35% 44% 6.3% 9.7% 15.4% 204 105 177 95 2,260 167 162 90 2,047 77 1,743 1,773 133 64 1,322 10.1% 9.6% 83 899 35 4.9% 4.7% 5.0% 4.7% 4.4% 9.2% 9.0% 9.1% 8.7% 3.9% FY22 FY23 FY24 FY25 9M
Slide 22: Historical Annual Financials and Operational Performance
Historical Annual Financials and Operational Performance Inventory Days** Payable Days** Working Capital Days 108 45 91 98 77 91 83 66 53 17 18 13 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 *Receivable Days are less than 0 since the Company has negligible Trade Receivables **Payable
Slide 23: Contents
Contents Q3 & 9M FY26 Highlights Business Overview Historical Performance Industry Overview Appendix Q3 & 9M 2026 Investor Presentation
Slide 24: Powering India's Retail Surge: Driving Consumer Spending Growth
Powering India's Retail Surge: Driving Consumer Spending Growth Increased household spending on consumer durables over the years Consumer Durables Market Growth (Rs Tn) % of Monthly Per Capita Consumption Expenditure on Consumer Durables Rural Urban CAGR 11-15% CAGR 8% 7.0% 6.6% 5.1 3.1 3.6 4.3% 2.1
Slide 25: Low Penetration and Rising premiumization is in favor of AVL
Low Penetration and Rising premiumization is in favor of AVL Penetration in India (%) 4-star and 5-star Acs with 2 tons Demand for Fully Automated WMs and capacity higher in demand Washer Dryers continuously rising (In INR Bn) (In INR Bn) ~250 ~640 ~220 ~340 ~10% ~35% ~13% ~74% ~5-10% 12% 21% 23% 38
Slide 26: Market Penetration & Opportunity in Hindi Heartland
Market Penetration & Opportunity in Hindi Heartland Source: www.statsofindia.in , Business Standard 25 Note: The underlying data is from 2022. While absolute values have changed since, the percentage trends remain broadly in-line.
Slide 27: Rising Prosperity in Underpenetrated Hindi Heartland
Rising Prosperity in Underpenetrated Hindi Heartland Note: The underlying data is from 2022. While absolute values have changed since, the percentage trends remain broadly in-line. 26
Slide 28: Electricity Consumption Growth In Hindi Heartland States to Outpace Other States
Electricity Consumption Growth In Hindi Heartland States to Outpace Other States ~2.9x 293% ~2.3x 226% ~2.1x 208% ~1.7x 170% 166% ~1.7x FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY27P Bihar Jharkhand Uttar Pradesh Maharashtra Gujarat Source: Central Electricity Authority, MoSPI; Ministry of Power
Slide 29: Hindi Heartland– Engine for Aditya Vision's Sustainable Growth
Hindi Heartland– Engine for Aditya Vision’s Sustainable Growth JHARKHAND UTTAR PRADESH BIHAR • Largest state population with ~24Cr • Bihar is 9% of India’s Population at 13.07cr; • $2.7 Bn cumulative FDI inflows (Oct 2019 – accounting for ~17% of India’s population second largest in India population
Slide 30: Shift from Unorganised to Organised: Aditya Vision is well positioned to benefit
Shift from Unorganised to Organised: Aditya Vision is well positioned to benefit Rapid Shift from Overall Un-Organised to Organised sector in Indian Consumer’s Durable Industry Organised Unorganised 23% 51% 42% 77% 49% 58% FY16 FY21 FY27P Organised Sector to Grow Faster than Overall Consumer Electro
Slide 31: Contents
Contents Q3 & 9M FY26 Highlights Business Overview Historical Performance Industry Overview Appendix Q3 & 9M 2026 Investor Presentation
Slide 32: Our Trade Partners / Our Consumer Finance Partners
Our Trade Partners Our Consumer Finance Partners ~43% Sales Financed in FY25 31
Slide 33: Board of Directors
Board of Directors Yashovardhan Sinha Nishant Prabhakar Yosham Vardhan Sunita Sinha Rashi Vardhan Chairman & Managing Director Whole Time Director Whole Time Director Non-Executive Director Non-Executive Director • Promoter, Chairman and • Promoter and Whole-time • Promoter and Whole-time • Founder,
Slide 34: Independent Directors
Independent Directors ` Ravinder Zutshi Nusrat Syed Hassan Atul Sinha Apeksha Agiwal Rahul Kumar Independent Director Independent Director Independent Director Independent Director Independent Director • 45+ years of • Managing Director at • 35+ years at UCO • Highly qualified • Qualified profession
Slide 35: In-Store Photo Gallery
In-Store Photo Gallery VOLTAS a
Slide 36: Thank You
For further information, please contact: Aditya Vision Ltd. Ms. Akanksha Arya-Company Secretary Tel: +91-6122520854 Email: cs@adityavision.in www.adityavision.in Investor Relations Contact: Garima Singla – Research Analyst Tel: +91-9780042377 Email: garima@goindiaadvisors.com Sheetal Khanduja – Head