Investor Presentation for the quarter and year ended March 31, 2026
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Aditya Vision reported FY26 revenue of Rs. 2,672 crore, up 18% YoY, with PAT of Rs. 117 crore growing 11%. Despite challenging weather conditions and geopolitical headwinds affecting H1, the company delivered resilient growth. Q4FY26 was particularly strong with 28% revenue growth and 36% PAT growth. The company expanded aggressively, adding 32 stores in FY26 to reach 207 total stores. However, margins compressed slightly—EBITDA margin fell to 8.5% from 9.0% in FY25, and PAT margin declined to 4.4% from 4.7%. The management highlighted that new stores take approximately 3 years to mature to profitability, with recent store additions expected to drive operating leverage going forward. Same-store sales growth remained healthy at 8%, and average selling price improved to Rs. 22,088.
The strong Q4 performance and 18% annual revenue growth demonstrate business resilience, but margin compression may concern investors. The aggressive store expansion strategy (102 stores in 3 years) creates near-term cost pressure but positions the company for future profitability as newer stores mature.