Avenue Supermarts Q4 Results 2022: reported PAT at Rs.466 crore, up by 7.2%

On 14th May 2022, Avenue Supermarts announced its quarterly results for the last quarter of FY2022.

Key Highlights:

For Q4FY22:

- Total Revenue stood at Rs. 8,606 Crore, with a growth of 17.8% YoY   

- EBITDA of Rs. 742 Crore; with a growth of 20.3%  YoY   

- PAT stood at Rs. 466 Crore; with a growth of  7.2% YoY    

- Basic EPS for Q4FY22 stood at Rs.7.2, as compared to Rs.6.71 for Q4FY21  

- 21 stores were added in Q4FY22

For FY2022:

- Total Revenue stood at Rs. 30,353 Crore, with a growth of 27.6% YoY   

- EBITDA of Rs. 2,502 Crore; with a growth of 43.6% YoY   

- PAT stood at Rs. 1,616 Crore; with a growth of 38.7% YoY 

- Basic EPS for FY22 stood at Rs. 24.95, as compared to Rs. 17.99 for FY21  

- 50 stores were added in FY22

Consolidated Result Highlights:

- Total Revenue for Q4FY22 stood at Rs.8,786 crore, as compared to Rs.7,412 crore in Q4FY21. 

- EBITDA in Q4FY22 stood at Rs.739 crore, as compared to Rs. 613 crore in Q4FY21. EBITDA margin stood at 8.4 % in Q4FY22 as compared to 8.3% in Q4FY21.   

- Net Profit stood at Rs. 427 crore for Q4FY22, as compared to Rs. 414 crore in the corresponding quarter of last year. 

- PAT margin stood at 4.8% in Q4FY22 as compared to 5.5% in Q4FY2. 

- Basic Earnings per share (EPS) for Q4FY22 stood at Rs. 6.59, as compared with Rs. 6.39 for Q4FY21. 

- Total Revenue for FY22 stood at Rs. 30,976 crore, as compared to Rs. 24,143 crore in the same period last year. 

- EBITDA in FY22 stood at Rs. 2,499 crore, as compared to Rs. 1,743 crore during FY21. EBITDA margin stood at 8.1% in FY22 as compared to 7.2% in FY21.  

- Net Profit stood at Rs. 1,492 crore for FY22, as compared to Rs. 1,099 crore in FY21. PAT margin stood at 4.8% in FY22 as compared to 4.5% in FY21.  

- Basic Earnings per share (EPS) for FY22 stood at Rs. 23.04 as compared with Rs. 16.97 for FY21

Commenting on the performance of the company Mr. Neville Noronha, CEO & Managing Director, Avenue Supermarts Limited, said:  “January 2022 started extremely well but then the Omicron wave of Covid‐19 reduced the momentum over the middle of the month. These waves typically hurt the high margin and discretionary items more. As is the trend of the past, recovery does take 40‐50 days after restrictions are removed or anxiety of a Covid wave recedes. Omicron was a milder wave and hence had a significantly lower negative impact. 

March 2022 month again had robust recovery and very satisfactory like for like growth vis a vis March 2021. In general, the quarter performance and past two waves of stop‐start‐stop give us extreme confidence on the resilience of the business to recover in the short term.   

Our FMCG business is recovering well. The value proposition is being distinctly seen by our customers in this segment. In the discretionary non‐FMCG segment, as of now, it is hard to estimate if the relatively lower growth is due to a secular change over time due to the e-commerce shift or due to inflation, or due to significantly higher Covid related negative economic impact for certain shoppers. We would be able to give that qualitative interpretation only if there are no more Covid shutdowns/restrictions over at least 2 more quarters. High inflation environment is helping us manage our costs better and also deliver relatively better value to shoppers.”