Avenue Supermarts Ltd. (ASL), one of the largest food & grocery retailers in India that runs the chain of D-Mart stores declared its standalone and consolidated financial results for the quarter and year ended March 31, 2021.  

Standalone results  

Total Revenue for the quarter ended March 31, 2021 stood at Rs. 7,303 crore, as compared to Rs. 6,194 crore in the same period last year. Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q4FY21 stood at Rs. 617 crore, as compared to Rs. 418 crore in the corresponding quarter of last year. EBITDA margin stood at 8.4% in Q4FY21 as compared to 6.7% in Q4FY20.  

Net Profit stood at Rs. 435 crore for Q4FY21, as compared to Rs. 287 crore in the corresponding quarter of last year. PAT margin stood at 5.9% in Q4FY21 as compared to 4.6% in Q4FY20. 

Basic Earnings per share (EPS) for Q4FY21 stood at Rs.6.71, as compared to Rs.4.49 for Q4FY20.  

Total Revenue for FY21 stood at Rs. 23,787 crore, as compared to Rs. 24,675 crore in the same period last year. Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in FY21 stood at Rs. 1,742 crore, as compared to Rs. 2,122 crore during FY20. EBITDA margin stood at 7.3% in FY21 as compared to 8.6% in FY20.  

Net Profit stood at Rs. 1,165 crore for FY21, as compared to Rs. 1,350 crore in FY20. PAT margin stood at 4.9% in FY21 as compared to 5.5% in FY20.  

Basic Earnings per share (EPS) for FY21 stood at Rs.17.99, as compared to Rs. 21.49 for FY20. 

Consolidated results  

Total Revenue for the quarter ended March 31, 2021 stood at Rs. 7,412 crore, as compared to Rs. 6,256 crore in the same period last year. Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q4FY21 stood at Rs. 613 crore, as compared to Rs. 417 crore in the corresponding quarter of last year. EBITDA margin stood at 8.3% in Q4FY21 as compared to 6.7% in Q4FY20.  

Net Profit stood at Rs. 414 crore for Q4FY21, as compared to Rs. 271 crore in the corresponding quarter of last year. PAT margin stood at 5.5% in Q4FY21 as compared to 4.3% in Q4FY20.  

Basic Earnings per share (EPS) for Q4FY21 stood at Rs. 6.39, as compared to Rs. 4.25 for Q4FY20.  

Total Revenue for FY21 stood at Rs. 24,143 crore, as compared to Rs. 24,870 crore in the same period last year. Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in FY21 stood at Rs. 1,743 crore, as compared to Rs. 2,128 crore during FY20. EBITDA margin stood at 7.2% in FY21 as compared to 8.6% in FY20.  

Net Profit stood at Rs. 1,099 crore for FY21, as compared to Rs. 1,301 crore in FY20. PAT margin stood at 4.5% in FY21 as compared to 5.2% in FY20.  

Basic Earnings per share (EPS) for FY21 stood at Rs. 16.97 as compared to Rs. 20.71 for FY20. 

Commenting on the performance of the company Mr. Neville Noronha, CEO & Managing Director, Avenue Supermarts Limited, said, “FY 2021 has been a challenging year for our business. The year began amidst a strict lockdown post the emergence of the Coronavirus (Covid-19) towards the end of the last financial year. The economy gradually opened post May 2020 and the second half of the year was progressing towards recovery. However, a much stronger second wave of Covid-19 infections hit the country towards the end of FY 2021 and has once again resulted in significant disruption to our business as several cities and towns have announced restrictions.” 

He further added that During FY 2021, D-Mart has seen a degrowth across key financial parameters of Revenue, EBITDA and PAT. “Our sales mix has also seen a shift towards Grocery and FMCG products. Sales from General Merchandise and Apparel formed 22.90% of our total revenue for the year as compared to 27.31% in the previous year. This is a result of consumer preference of need based / essential goods shopping for a significant period during the year, reduced discretionary spending and significant restrictions on selling non-essentials during the early part of the year. This has also impacted our margins during the year. However, Q4 margins did indicate revival of discretionary spends not seen in previous 3 quarters,” he added.