AVL

Aditya Vision share price & financials

Price
₹634.3
Market cap
₹8.0k Cr
Sector
Consumer Services
Calls analysed
6
Latest concall · Q4 FY26 · call held 08 May 2026

Aditya Vision Q4 FY26

FY26 Revenue ₹2,672 cr +18%FY26 EBITDA ₹228 cr +12%FY26 EBITDA Margin 8.5% FY26 PAT ₹117 cr +11%

What went well

  • FY26 Revenue grew 18% YoY to INR 2,672 crores, demonstrating resilience despite a weak H1.
  • Q4 FY26 Revenue surged 28% YoY to INR 625 crores, accelerating momentum.
  • Q4 FY26 PAT grew impressively by 36% YoY to INR 22 crores.

What to watch

  • FY26 Gross margins were maintained at 15.6%, but experienced a 100 bps negative YoY change due to weak summer sales impacting high-margin seasonal products in H1.
  • Q4 FY26 gross margin of 16% was impacted by increased ASPs of lower-margin products like mobiles (up 20%) and laptops (up 8-10%), which constituted over 25% of sales.
Read the full call →

What Aditya Vision Limited does

Aditya Vision operates a chain of large-format retail stores selling consumer durables and electronics such as TVs, refrigerators, washing machines, air conditioners, mobile phones and small appliances across Bihar, Jharkhand, Uttar Pradesh and Chhattisgarh. It earns primarily by sourcing directly from OEMs (about 85% direct supply, rest via distributors/C&F agents) and selling to end consumers through its own showrooms on a cash-and-carry model, without any private-label products. The company also runs after-sales and extended-warranty service programs (Aditya Seva, Aditya Suraksha) and a customer loyalty rewards program to support repeat business.

Segments

  • Retail sale of consumer durables and electronics
Store count
207 showrooms (as of 31 Mar 2026)
Retail footprint
~9.1 lakh sq ft
Average store size
4,400+ sq ft
Geographic presence
Bihar (118 stores, 69 cities, 38 districts), Jharkhand (33 stores, 25 cities), Uttar Pradesh (53 stores, 24 cities), Chhattisgarh (3 stores, 3 cities)
OEM relationships
100+ long-term brand relationships
Product categories
Televisions, refrigerators, washing machines, air conditioners, home theatres, cooktops, soundbars, microwaves, chimneys, mobile phones & tablets, cameras
Founded 1999Headquarters Patna, Bihar Company website

Guidance record · Q4 FY26

what the last two calls moved 12 tracked 5 delivered 4 missed 3 open
  • Total Operational Stores by FY26 delivered said Q3 FY25 Promised: 200+ Q4 FY26: Store count reached 207 as of March 31, 2026.
  • Ongoing Revenue Growth missed said Q3 FY25 Promised: 20% to 25% Q4 FY26: Full year FY26 revenue growth was 18%, falling short of the guided range due to a weak H1.
  • Annual New Store Additions open said Q4 FY26 Promised: 25 stores Q4 FY26: when somebody actually will ask us how many stores we want to open, then we only say the figure of 25 stores.

All 12 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 26.9%, net profit up 40.0% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue376 508 487 940 458 +22%649 +28%625 +28%1,193 +27%
EBITDA30 47 42 90 35 +17%53 +13%51 +21%124 +38%
Net profit12 24 16 55 13 +8%27 +13%22 +38%77 +40%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +25.9% 1Y

₹450₹500₹550₹600₹650Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 7 Nov 2025Q3 FY26 — 27 Jan 2026Q4 FY26 — 8 May 2026

1Y: ₹489.65 on 10 Sept 2025 → ₹616.45. High ₹668.55 (29 Jun 2026), low ₹444.2 (16 Mar 2026).

How the price took the results

close before → close after

Q4 FY26
+0.0%
8 May
Q3 FY26
+0.9%
27 Jan
Q2 FY26
+2.4%
7 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 26.4% a year over 3 years, FY23 to FY26. Operating margin narrowed to 8.6%.

Year endingFY23FY24FY25FY26
Revenue₹1.3k Cr₹1.7k Cr₹2.3k Cr₹2.7k Cr
Operating profit₹133 Cr₹167 Cr₹204 Cr₹229 Cr
Operating margin10.1%9.6%9.0%8.6%
Interest₹30 Cr₹38 Cr₹33 Cr₹39 Cr
Depreciation₹20 Cr₹28 Cr₹37 Cr₹40 Cr
Net profit₹64 Cr₹77 Cr₹105 Cr₹117 Cr
Net margin4.8%4.4%4.6%4.4%
Cash from operations₹18 Cr₹-6 Cr₹-41 Cr₹75 Cr
Free cash flow₹-12 Cr₹-40 Cr₹-78 Cr₹39 Cr
ROCE25.0%22.0%19.0%17.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹12 Cr₹12 Cr₹12 Cr₹13 Cr₹13 Cr₹13 Cr
Reserves₹37 Cr₹67 Cr₹124 Cr₹474 Cr₹626 Cr₹676 Cr
Borrowings₹198 Cr₹282 Cr₹418 Cr₹319 Cr₹413 Cr₹573 Cr
Other liabilities₹144 Cr₹61 Cr₹63 Cr₹70 Cr₹148 Cr₹210 Cr
Total liabilities₹391 Cr₹421 Cr₹618 Cr₹875 Cr₹1.2k Cr₹1.5k Cr
Fixed assets₹130 Cr₹150 Cr₹183 Cr₹244 Cr₹285 Cr₹326 Cr
Capital work in progress₹0 Cr₹0 Cr₹8 Cr₹9 Cr₹6 Cr₹6 Cr
Investments₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Other assets₹261 Cr₹271 Cr₹427 Cr₹622 Cr₹909 Cr₹1.1k Cr
Total assets₹391 Cr₹421 Cr₹618 Cr₹875 Cr₹1.2k Cr₹1.5k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, DIIs added +11.83 pp while promoters trimmed −6.09 pp. The shareholder count grew 14% to 33,586.

Promoters
47.1%
FIIs
15.1%
DIIs
21.7%
Public
16.1%

Since Jun 2025

  • DIIs +11.83 pp
  • Promoters −6.09 pp
  • Public −3.12 pp

How it drifted, 12 quarters

Over this window the public fell from 33.6% to 16.1% — −17.5 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 61.2%, FIIs 0.6%, DIIs 4.6%, Public 33.6%.Dec '23: Promoters 61.2%, FIIs 0.6%, DIIs 6.6%, Public 31.6%.Mar '24: Promoters 53.4%, FIIs 9.4%, DIIs 7.5%, Public 29.7%.Jun '24: Promoters 53.2%, FIIs 10.2%, DIIs 8.2%, Public 28.3%.Sep '24: Promoters 53.2%, FIIs 12.9%, DIIs 8.7%, Public 25.2%.Dec '24: Promoters 53.2%, FIIs 13.8%, DIIs 8.7%, Public 24.3%.Mar '25: Promoters 53.2%, FIIs 16.6%, DIIs 9.9%, Public 20.3%.Jun '25: Promoters 53.2%, FIIs 17.7%, DIIs 9.8%, Public 19.3%.Sep '25: Promoters 47.3%, FIIs 18.8%, DIIs 16.5%, Public 17.4%.Dec '25: Promoters 47.1%, FIIs 17.7%, DIIs 17.4%, Public 17.7%.Mar '26: Promoters 47.1%, FIIs 16.2%, DIIs 19.6%, Public 17.1%.Jun '26: Promoters 47.1%, FIIs 15.1%, DIIs 21.7%, Public 16.1%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 3 holders trimming and 6 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Aditya Vision Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Yashovardhan Sinha 27.38%unchanged
Rashi Vardhan 10.82%unchanged
HDFC Small Cap Fund Mutual fund7.52%unchanged
Smallcap World Fund, Inc Global fund house7.02%unchanged
Nishant Prabhakar 5.34%unchanged
Isif Equity Ex-Top 100 Long-Short Fund AIF3.91%newly disclosed
Rinu Sinha 3.35%−0.18 pp
Angad Kumar 3.25%unchanged
Motilal Oswal Small Cap Fund Mutual fund2.83%−0.82 pp
Yosham Vardhan 2.69%unchanged
Xis Mutual Fund Trustee Limited A/C Axis Mutual Fund A/C Axis Small Cap Fund Mutual fund1.87%newly disclosed
Canara Robeco Mutual Fund A/C Canara Robeco Small Cap Fund Mutual fund1.70%newly disclosed

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in AVL

Filings to Jul 2026

0 new, 0 added, 0 trimmed, 0 sold out — net +0.00 L shares (+0.0%).

Held by funds
₹620 Cr
2 schemes
Biggest holder
HDFC Small Cap Fund
₹562 Cr · 1.4% of that fund
SchemeHoldingLast month
HDFC Small Cap Fund HDFC Mutual Fund₹562 Crheld
HDFC Children's Fund HDFC Mutual Fund₹57 Crheld

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Jul 2026

0 added, 0 trimmed — net 0 shares (+0.0%)

Funds are sitting on
+73%
vs est. average cost
Held by funds
₹620 Cr
2 schemes · ≈ 7.7% of the company
Biggest holder
HDFC Small Cap Fund
₹562 Cr · 1.4% of that fund

Shares held by these funds +53%

Nov '23 97.12 L shares Jul '26

What the price assumes

Expensive

To justify its price of ₹616, this stock must grow earnings at 33% every year for 7 years. Our analysis caps realistic growth at ~19%. At that growth it is worth ₹307 — downside of 50%.

Growth the price implies
33.5% a year
for 7 years, fading to 4%
It has actually compounded at
22.3% a year
net profit, FY23–FY26 · EPS 19.5%
The gap
0.1 pp
-50% downside if it only repeats history
Price today ₹616.45 Value at the reference growth ₹306.92

Change the assumptions yourself →

All earnings calls (6)

Read the Q4 FY26 call →

Learn to analyse Aditya Vision Limited

Guides on how to read this kind of business and the numbers that matter.