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Dossier · ADITYA VISION LIMITED · 29 October 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
Operates a chain of branded retail showrooms selling consumer durables and electronics — cooling products (air conditioners, refrigerators), televisions, mobile phones, laptops and similar appliances — to retail customers across eastern and central India. As of June 30, 2026, the network stood at 210 stores split across Bihar (120, covering all 38 districts), Uttar Pradesh (54 across 30 of 75 districts), Jharkhand (33 across 22 of 24 districts) and Chhattisgarh (3 across 2 of 27 districts), with planned entry into Madhya Pradesh and West Bengal in FY27. Revenue of Rs 2,671.62 cr in FY26 grew 18% year-on-year, and Q1 FY27 revenue rose 27% to Rs 1,192.68 cr with same-store sales growth of 18%. The model buys finished goods from OEMs and resells through company-owned stores; inventory stood at Rs 663 cr as of June 30, 2026 (down from Rs 840 cr at FY26-end after a deliberate pre-build ahead of OEM price hikes). Store-level economics target breakeven within 9–12 months of opening. Cost shape in FY26 was 3.1% employee costs, 4.0% other operating expenses and 1.5% depreciation against revenue. Management guides to a 8–10% medium-term EBITDA margin (15–16% gross margin) and more than 30 net store additions in FY27, with cooling-led sales remaining the structural summer driver even as the company positions itself as an 'all-season' retailer. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Consumer durables and electronics retail, Cooling products (seasonal). Asset-heavy retail roll-out of own-brand consumer durables showrooms; structurally seasonal on cooling but management is repositioning the business as an all-season model.
What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
₹ crore · standalone
FY22
FY23
FY24
FY25
FY26
Revenue
899
1,322
1,743
2,260
2,672
EBITDA (ex other income)
66
133
167
204
226
margin %
7.4
10.1
9.6
9.0
8.5
Owners' profit
37
64
77
105
117
EPS, as reported (₹)
30.43
53.32
63.72
8.21
9.07
ROE % · ROCE %
41.9 · 60.9
47.1 · 38.3
15.8 · 21.8
18.1 · 22.9
17.0 · 21.7
Debt / equity (x)
1.31
1.99
0.26
0.48
0.48
Cash from operations
17
18
(6)
(41)
75
Capex
(18)
(30)
(34)
(37)
(35)
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · ADITYA VISION LIMITED · 29 October 2026Page 2 of 3
Exhibit 2: Quarterly performance, last 8 quarters
₹ crore
Q2 FY25
Q3 FY25
Q4 FY25
Q1 FY26
Q2 FY26
Q3 FY26
Q4 FY26
Q1 FY27
Revenue
376
508
487
940
458
649
625
1,193
Profit before tax
16
31
24
73
17
36
31
103
Net profit
12
24
16
55
13
27
22
77
EPS (₹)
0.95
1.89
1.24
4.29
0.99
2.12
1.69
5.98
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.
Exhibit 3: Peers — basic industry group, by market cap
Company
M.cap ₹ cr
P/E
P/B
EV/EBITDA
ROE %
ROCE %
Rev CAGR 5y %
EBITDA m. %
TRENT LTD
1,54,511
63.0
21.74
41.1
24.2
26.2
50.6
20.1
LENSKART SOLUTIONS LTD
1,19,913
180.1
13.55
62.3
5.7
5.8
—
24.2
VEDANT FASHIONS LIMITED
11,751
29.1
7.69
16.1
8.5
8.4
—
52.7
ADITYA BIRLA LIFES BRAN L
8,818
49.8
6.24
6.9
12.1
5.0
—
16.0
ADITYA VISION LIMITED ◆
7,243
52.0
10.52
—
17.0
17.4
—
10.6
V2 RETAIL LIMITED
5,667
3.6
6.28
12.0
18.0
14.2
41.6
14.1
ADITYA BIRLA FASHION & RT
4,870
—
0.78
7.0
(13.3)
(7.1)
9.3
8.5
ARVIND FASHIONS LIMITED
4,855
40.5
4.18
7.4
15.8
12.9
19.1
13.0
Source: exchange data and filed statements via the screener; multiples at current prices.
Exhibit 4: Where the company sits in its group
Metric
Company
Group median
Rank
Better than
P/E (TTM)
52.0
26.0
15 of 19
22%
P/B
10.5
3.9
12 of 14
15%
ROCE
17.4
10.0
4 of 20
84%
ROE
17.0
11.7
3 of 14
85%
Debt / Equity
0.5
0.1
12 of 14
15%
EBITDA margin
10.6
15.7
11 of 14
23%
Revenue growth
26.9
16.6
6 of 16
67%
Profit growth
40.0
20.6
4 of 13
75%
Market cap
7243
724
5 of 20
79%
Source: MarketPing peer ranks; a rank is a measurement, not a view.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · ADITYA VISION LIMITED · 29 October 2026Page 3 of 3
Exhibit 5: Filings of the last 90 days, with the measured price reaction
Date · filing
Category
Importance
Next day %
5-day %
26 Oct 2026 · Aditya Vision schedules Q2FY27 results conference call for October 30
board shareholder meetings
low
—
—
26 Oct 2026 · Board to approve September 2026 quarterly and half-year results
results
low
—
—
16 Oct 2026 · Compliance certificate for share demat process, Sep 2026
compliance
minimal
—
—
28 Sept 2026 · Trading window closed ahead of Q2 and H1 FY26 results
compliance
minimal
—
—
28 Sept 2026 · Aditya Vision opens 2 new showrooms in Chhattisgarh
business updates
medium
—
—
23 Sept 2026 · Opens Two New Showrooms in Uttar Pradesh, Total Reaches 212
business updates
medium
—
—
3 Sept 2026 · AGM results: All 6 resolutions passed, final dividend of Rs 1.25 per share declared
compliance
low
—
—
2 Sept 2026 · Aditya Vision 27th AGM: Final Dividend of Rs 1.25 per Share Declared
board shareholder meetings
medium
—
—
11 Aug 2026 · Newspaper ad on 27th AGM notice and e-voting information
compliance
minimal
—
—
10 Aug 2026 · Record date Aug 26 for AGM and possible dividend, FY26
corporate actions
high
—
—
Source: exchange announcements; each reaction is measured from the close before the filing. Next day = the close one session after the reaction day (the first session that could trade the filing).
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Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
