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Aditya Vision Ltd.

BSE: 540205 Sector: Consumer
NSE: N.A. ISIN Code: INE679V01019
BSE 12:00 | 25 May 740.00 0.10






NSE 05:30 | 01 Jan Aditya Vision Ltd
OPEN 755.05
52-Week high 1564.10
52-Week low 354.80
P/E 19.63
Mkt Cap.(Rs cr) 890
Buy Price 723.25
Buy Qty 2.00
Sell Price 734.80
Sell Qty 2.00
OPEN 755.05
CLOSE 739.90
52-Week high 1564.10
52-Week low 354.80
P/E 19.63
Mkt Cap.(Rs cr) 890
Buy Price 723.25
Buy Qty 2.00
Sell Price 734.80
Sell Qty 2.00

Aditya Vision Ltd. (ADITYAVISION) - Chairman Speech

Company chairman speech

It's my honour and privilege to welcome our shareholders employee and well-wishers toour 22"" Annual General Meeting which is being held online due to COVID-19pandemic. For the second year in a row I miss having physical presence of ourshareholders in AGM because of this pandemic. However we are thankful to technology whichhas enabled all of us to participate virtually in the AGM.

I would like to express my heartfelt gratitude for your continued support and faithbestowed upon Aditya Vision Limited and its management team. I hope you and your familymembers are healthy and staying safe during this unprecedented COVID-19 pandemic.

The past year has been incredibly challenging for all human beings. The COVID-19pandemic has led to a dramatic loss of human life worldwide. The economic and socialdisruption caused by the pandemic is devastating. Today I and my entire team of AdityaVision offer our respects and heartfelt condolences to all those who have lost their lovedones due to this pandemic.

In this current FY 2021-22 operations and sales of the Company continued gettingadversely affected as all our showrooms and offices were closed from May 05 2021 tillJune 02 2021 due to complete lockdown announced by the State Government and thereafterwere allowed to open on limited number of days in a week with truncated timings and otherrestrictions. Because of this our showrooms were open only for 36 days in Q1FY22 withvarious restrictions including truncated timings due to lockdown/curfew imposed by theGovernment of Bihar in entire state to prevent and control the 2nd wave ofCOVID-19 pandemic. Unfortunately this situation continued till August 06 2021 affectingQ2FY22 also.

Due to pandemic discretionary physical spending has taken a backseat and disruptedsupply chain as well. As with all brick-and-mortar retail businesses your Company hasalso suffered enormously and effects on sale may be considerable in current year also.

Mankind always sees an opportunity in every adversity. For us I with my team took itup as a digital opportunity and this online AGM is just another testament of it. Toovercome the shift in consumer purchasing pattern due to hesitancy in physical shoppingthe Company launched omnichannel model (online to offline) to enable customers to shoponline and get delivery of ordered product from the nearest showroom instantly. I amdelighted to share that our omnichannel initiative has got a good response and itsperformance is being continuously monitored by my team. Company did exceedingly well onomnichannel/on-line model of sale of products through its own on-line shopping portal/Appplatform.

Our topmost priority has been to safeguard health and well-being of our employees andcustomers. Our organization was amongst the first in Bihar to organize vaccination camp inthe month of June for all the employees and their family members. Today I can confidentlysay that each of our employees is vaccinated with at least one dose of COVID-19 vaccine. 1must also take this opportunity to thank the Government of Bihar without whose supportthis vaccination drive would not have been possible.

Performance Review (A) Financial:-

Gross and net revenue for FY 2020-21 declined marginally by 6% compared to FY 2019-20due to lockdowns disruptions and closure of all showrooms for almost 4 months. Severalmeasures such as cost cutting and stricter control on stocks were undertaken to ensureCompany remained adequately liquid and profitable. Better realization of margins frommanufacturers and on shop floor saw EBITDA grow at 5.79% in FY 2020-21 against 4.30% lastyear. Net profit after tax stood at 24 crores against 14 crores last year a growth of 76%YoY. Earnings per Share (EPS) for FY 2020-21 more than doubled at Rs. 20.51 compared toRs. 9.94 YoY.

Same Store Sales declined marginally by 13% despite prolonged disruptions of operationsof the company due to lockdowns to prevent and control COVID-19 pandemic by central/stateGovts. However overall sales declined by just 6% YOY.

Further in view of improved profitability I am pleased to inform that Board ofDirectors has decided to declare a dividend of 50% amounting to Rs. 5/- on face value ofRs. 10/- each per share compared to 25% last year.

The company's comparable performance metric for FY 2020-21 is tabled below forreference.

Financials FY 2020-21 FY 2019-20 Growth/Decline
Gross Revenue 906 963 -6%
Net Revenue 748 797 -6%
EBITDA 43 34 26%
PAT 24 14 76%
EPS 20.51 9.94 106.39 %

*All Figures are in INR Crore except EPS

Highlights of our financial performance during the FY 2020-21

> Gross Revenue of Rs. 906 crore and Net Revenue of Rs. 748 crore

> EBITDA of Rs. 43.31 crore

> Net Profit of Rs. 24.68 crore

> Earnings per Share (EPS) of Rs. 20.51

> Number of Showrooms: 70 (As on date)

(B) Retail Space Management & Employees Productivity

I have added new matrix denoting retail space management and productivity of employeeswith respect to sales and profit earned by the Company which is as follows:

Total retail space excluding warehousing space stood at 3.09 lakhs square feet in FY 21compared to 2.28 lakhs square feet in FY 20.

Net Sale and profit before tax stood at healthy Rs. 32807/- and Rs. 1403/- per squarefeet respectively for the retail space utilized for the entire financial year.

Net Sale and profit before tax stood at Rs. 1.10 crores and Rs. 5.00 Lakhs per employeerespectively for employee who was employed for the entire financial year.

Forward Guidance:

Our company is in a growth phase and is opening new showrooms in areas where value canbe found.

In FY 2020-21 the company opened 21 new showrooms. In the current financial year FY21-22 the company has opened 6 new showrooms taking the total count of showrooms to 70till date. In the coming months our company plans to open new showrooms. The list istabled below for reference.

New Showrooms Opening Roadmap
FY 2020-21 (Already Opened) FY 2021-22 (Already Opened) New Showroom opening FY 2021-22 fWIPl
Buxar Machuatoli Patna Zip Machuatoli
Raxaul Banka Sheohar
Patliputra Zip Barbigha Zip Saguna More
Forbesganj Jehanabad Zip Zero mile
Saharsa Bihta Jamui
Ashiana Zip Zip Danapur Dalsinghsarai
Ashok Rajpath Zip
Hajipur Zip
Jhanjharpur (Madhubani)
Aditya Vision Zip 2 (Bailey Road)
Zip 90 feet Bypass
Aditya Vision. Zip Darbhanga
Aditya Vision. Zip Gola Road
Rajeev Nagar

The future remains very exciting for your Company as apart from expanding in Bihar nowCompany is actively pursuing opening of showrooms in Jharkhand state and 1 am confidentthat my team will add 10-15 showrooms in current financial year in various cities ofJharkhand apart from uncovered places in Bihar. Thereafter tentatively from FY23 onwardsCompany intends to expand in states of UP and West Bengal apart from existing states.Going ahead from FY24 onwards in the sates of Assam and Orissa which when implementedwill aim to make your Company the largest formidable force in consumer electronics retailspace in entire eastern India. The risks as foreseen by me will be the possible 3rdwave of Covid-19 pandemic and its future impact on customers and expansion plans ofCompany local/national competitors and shift in consumer preferences.

On behalf of the entire Board of Directors and the management team I would like tothank you for your continued support and encouragement. The dedication and commitment ofthe employees and officers at all levels continues to be the major strength for thecompany. I give full credit to my team who has done a magnificent contribution by adding27 showrooms even in the pandemic year. 1 would also like to thank our valued customersvendors manufacturing companies bankers retail financers property partners and allstatutory authorities for their valuable support and cooperation. I and my entire team ofAditya Vision shall make continuous efforts to build on the strengths to face futurechallenges and sustain the momentum for profitable growth through expansion of store tonewer locations and shifting towards digitization through digital innovations.

Yashovardhan Sinha

(Chairman & Managing Director)