Aditya Vision Ltd. · NSE:AVL

Aditya Vision — Investor Presentation (December 2022)

32 slides from Aditya Vision's investor presentation, Dec 6, 2022

  1. Slide 1: Cover letter to BSE Limited

    December 06, 2022 BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai-400 001 SCRIP Code: 540205 Sub:- Investor Presentation Dear Sir(s) With reference to the above captioned subject, please find attached herewith Investor Presentation. This is for your information and record. Thanking you You

  2. Slide 2: Investor Presentation December 2022

    LARGEST MULTI BRAND CONSUMER DURABLE & ELECTRONICS RETAILER IN EASTERN INDIA ® ® INVESTOR PRESENTATION DECEMBER 2022 Investor Presentation 1

  3. Slide 3: Index

    01. BUSINESS OVERVIEW 02. INDUSTRY OVERVIEW  About Us & Our 5 Principles  Industry Outlook  Our Journey  Our Management  Penetration & Opportunity  Aditya Vision at a Glance  10 year growth journey  Store Unit Economics At a Glance 03. PERFORMANCE HIGHLIGHTS  Common size store economics  Q

  4. Slide 4: About Us & Our 5 Principles

    ABOUT US & OUR 5 PRINCIPLES  Started as a small customer focused electronic retailer in Patna in 1999.  Scaled from 1 store in 1999 to 92 stores today.  We raised only Rs 5.8 crore through IPO in 2016 and our journey remains strong while focus remains on 5 key principles 5 KEY PRINCIPLES: (1) Our

  5. Slide 5: Our Journey

    OUR JOURNEY Incorporated under Companies Act, 1956 as Aditya Vision Private Initiated expansion Scaled up to 75 Limited & opened it’s first outside Patna into showrooms in outlet situated at the other districts of almost all districts most prominent location Bihar. of Bihar at Bailey Road, Patna. 19

  6. Slide 6: Chairman & Managing Director

    CHAIRMAN & MANAGING DIRECTOR Yashovardhan Sinha Chairman & Managing Director Qualifications: B.A. (HONS), Ranchi University Work Experience: 39 Years Prior Work Experience: Punjab National Bank (19 Years) He is an Associate Member of Indian Institute of Bankers. He is responsible for the overall gro

  7. Slide 7: Aditya Vision at a Glance

    ADITYA VISION AT A GLANCE Patna, Bihar 92 10,000+ Products sold at our Outlets Our headquarters and base of operations Total Outlets in Bihar + Jharkhand 50% Mkt share In Bihar as per Crisil Credit Rating Report 4,000+Sq Ft Average size of Stores 3.2 lac sq ft Total Retail Footprint in FY22 Rs 23,60

  8. Slide 8: 10 Year Growth Journey

    10 YR GROWTH JOURNEY Revenue (Rs cr) Gross Margin (%) PBT Margin (%) (Pre Ind-AS) 1000 18.0% 6.0% 899 5.47% 900 797 16.0% 15.80% 800 748 5.0% 14.0% 4.41% 12.30% 700 564 12.0% 10.70% 4.0% 600 10.0% 8.60% 500 444 10.10% 3.0% 8.0% 6.64% 2.35% 400 362 6.57% 6.60% 6.0% 7.10% 2.0% 300 240 6.44% 6.59% 1.53

  9. Slide 9: Store Unit Economics at a Glance

    STORE UNIT ECONOMICS AT A GLANCE 17% Average SSG for 2018-22* 12-15% Gross Margin Rs 50 lacs Average Capex per store Rs 2.0 cr Average Working Capital per Store <6 month Average Store Level Break Even 3 years Payback Period Rs.90+ lacs Productivity Per Employee (with us for 12M+) Rs.33,890 Revenue P

  10. Slide 10: Common Size Store Economics

    COMMON SIZE STORE ECONOMICS (% to Sales) FY-2016 FY-2017 FY-2018 FY-2019 FY-2020 FY-2021* FY-2022* Gross Margin (%) 6.6% 7.1% 8.6% 10.1% 10.7% 12.3% 15.8% …. Gross Margin has increased with scale Employee Cost 1.8% 1.5% 2.6% 2.7% 2.7% 3.3% 3.2% …. Low store level employee cost …. Average rent of Rs

  11. Slide 11: Business Model

    BUSINESS MODEL Store Formats Presence  Bihar- 79 stores  4000 Sq Ft Avg Store Size Stores  Jharkhand- 13 stores  Online Store- adiyavision.com Sq Ft Earnings from higher sales re- Scale gets Customer Service OEM Supply invested in lower prices  Aditya Seva - Helpline customer  Upfront payment

  12. Slide 12: Store Growth & SSG

    STORE GROWTH & SSG 160 Total No. of Stores Store Sales Growth 140 2017-18 33.0 120 Store Opening CAGR - 2017 – 2022 - 33% 2018-19 17.0 100 80 2019-20 34.0 150 60 2020-21 *(13.0) 79 92 40 2021-22 14.5 64 20 38 43 19 28 AVERAGE** 17.1 0 FY17 FY18 FY19 FY20 FY21 FY22 FY23 (YTD)* FY25 Tgt *As on 30 Nov

  13. Slide 13: Revenue Seasonality (5 year avg.)

    REVENUE SEASONALITY (5 year avg.) Quarterly Share of Revenue (%) Peak Summer Season & Marriage Season Q1 30% Strong Demand for Cooling Products Major Stocking up prior to this quarter Q2 18% Weaker Quarter owing to Monsoon + Shraadh months Q3 28% Festive Season with attractive Brand Offers Q4 24% Mi

  14. Slide 14: Key Charts (1/2)

    KEY CHARTS (1/2) Gross Revenue from Operations (INR Cr) Net Cash Flow from Operations (INR Cr) 1200 70 60 57.64 1000 50 800 40 37.52 600 1,088.37 30 963.72 906.89 400 690.60 20 536.31 200 10 7.74 4.50 4.79 0 0 FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22 EBITDA (INR Cr) & EBITDA Margin (%) PAT

  15. Slide 15: Key Charts (2/2)

    KEY CHARTS (2/2) EPS (INR) Long Term Debt to Equity (x) 0.30 30 30.43 29.33 0.25 25 0.20 20 20.51 0.15 15 17.00 0.28 10 0.10 0.16 0.18 0.18 9.94 5 0.05 0.12 1.97 4.09 0 0.00 FY18 FY19 FY20 FY21 FY21 FY22 FY22 FY18 FY19 FY20 FY21 FY22 Pre Ind-AS Post Ind-AS ROCE (%) ROE (%) 90 50 45 80 40 70 35 60 30

  16. Slide 16: Geographical Presence

    GEOGRAPHICAL PRESENCE Bihar o Arrah (2) o Lahariasarai o Aurangabad o Lakhisarai o Banka o Madhubani o Barbigha o Motihari o Bettiah o Munger 79 o Bhagalpur (2) o Biharsharif (2) o Muzaffarpur (3) o Nawada Stores o Bihta o Patna (26) o Buxar o Purnia o Chapra o Raxaul o Dalsingharaj o Saharsa o Dana

  17. Slide 17: Product Offerings

    PRODUCT OFFERINGS Category Share for FY22 12% Mobile Phones Laptops Cameras 17% Refrigerators Geysers Air Conditioners & Tablets 71% Smart Watches Headphones Washing Machines Air Coolers Home Appliances & Entertainment Soln Digital Gadgets Others Televisions Home Theatre Speakers Cooktops Air Fryers

  18. Slide 18: Our Trade Partners

    OUR TRADE PARTNERS Investor Presentation 17

  19. Slide 19: Our Consumer Finance Partners

    OUR CONSUMER FINANCE PARTNERS ~30% Sales Financed Investor Presentation 18

  20. Slide 20: Strengths & Opportunities

    STRENGTHS & OPPORTUNITIES  Market leadership in Bihar (50% as per a recent Crisil report).  Diversified product portfolio at best price.  Strong regional presence. STRENGTHS  Best in class customer & after sales service.  Strong brand association.  Brilliant logistics capability.  Higher marg

  21. Slide 21: Moving from 79 Stores to 150 Stores by FY25

    MOVING FROM 79 STORES TO 150 STORES BY FY25  Setup stores based on a “Creeping Cluster Approach” and strong market intelligence.  Business is ready to scale beyond Bihar & Jharkhand to adjoining states in the “Hindi Heartland” over the next 3-5 years.  “Zero” store closure since Inception.  Prud

  22. Slide 22: Industry Overview

    INDUSTRY OVERVIEW Investor Presentation 21

  23. Slide 23: Industry Outlook

    INDUSTRY OUTLOOK Annual GDP Growth Rate Market Penetration Refrigerators 38% 10% 13.8% Households in INDIA Households in BIHAR Households in JHARKHAND own refrigerators own refrigerators own refrigerators 7.4% 8.1% 8.7% Air-conditioners/Coolers 7.0% 24% 5.6% 7.6% 5.7% 2.8% Households in INDIA Househ

  24. Slide 24: Penetration & Opportunity

    PENETRATION & OPPORTUNITY Our Focus Our Focus Investor Presentation 23

  25. Slide 25: Performance Highlights

    PERFORMANCE HIGHLIGHTS Investor Presentation 24

  26. Slide 26: Quarterly Financial Performance

    QUARTERLY FINANCIAL PERFORMANCE Particulars (Rs crore) Q2FY23 Q1FY23 Q2FY22 YoY% H1FY23 H1FY22 YoY% Revenue from Operations 259.6 438.5 182.1 42.5 698.1 375.6 85.8 Total Expenditure 236.5 393.5 170.6 38.6 630.0 348.6 80.7 EBITDA 23.1 45.0 11.5 100.2 68.1 27.1 151.8 EBITDA Margin (%) 8.9% 10.3% 6.3%

  27. Slide 27: Annual Income Statement

    ANNUAL INCOME STATEMENT FY21 FY22 FY21 FY22 Particulars (Rs crore) FY18 FY19 FY20 (Pre IndAS) (Pre IndAS) (Post IndAS) (Post IndAS) Net Revenue from Operations 443.94 563.65 796.98 748.00 899.11 748.00 899.11 Total Expenditure 436.90 546.64 771.77 706.39 832.87 694.62 816.05 EBITDA 7.05 17.02 25.21

  28. Slide 28: Annual Balance Sheet

    ANNUAL BALANCE SHEET Particulars (Rs Crore) 31 March 2022 31 March 2021 Particulars (Rs crore) 31 March 2022 31 March 2021 Equity and Liabilities Assets Equity Non-Current Assets (a) Equity Share Capital 12.03 12.03 Property, plant and equipment 39.12 24.65 (b) Other Equity 66.66 37.39 Total Equity

  29. Slide 29: Glimpse of Our Stores

    GLIMPSE OF OUR STORES Investor Presentation 28

  30. Slide 30: Glimpse of Our Stores

    GLIMPSE OF OUR STORES Investor Presentation 29

  31. Slide 31: Awards & Recognitions

    AWARDS & RECOGNITIONS Investor Presentation 30

  32. Slide 32: Get in touch with us

    Get in touch with us: Aditya Vision Ltd. Ms. Akanksha Arya-Company Secretary Tel: +91-612-2520854 | Email: cs@adityavision.in www.adityavision.in KAPTIFY Consulting Strategy & Investor Relations Consulting Tel: +91-845 288 6099 | Email: contact@kaptify.in www.kaptify.in Investor Presentation 31

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