Aditya Vision Ltd. · NSE:AVL
Aditya Vision — H1 FY27 Earnings Presentation
35 slides from Aditya Vision's earnings presentation, Oct 30, 2026
Slide 1: Submission of Investor Presentation to exchanges
R Aditya Vision Limited R R R Date- October 30, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza Dalal Street Bandra Kurla Complex, Bandra (East) Mumbai-400 001 Mumbai- 400051 Scrip Code: 540205 Symbol-AVL Sub:- Submission of Investor Presentation De
Slide 2: Investor Presentation Q2 & H1 FY27
INVESTOR PRESENTATION Q2 & H1 FY27, OCT 2026
Slide 3: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), have been prepared by Aditya Vision Limited (the “Company”) solely for information purposes and do not constitute any offer, recommendation, or invitation to purchase or subscribe for any securities and shall not form the
Slide 4: Contents
CONTENTS UTTAR PRADESH > Q2 & H1 FY27 HIGHLIGHTS : a BUSINESS OVERVIEW HISTORICAL PERFORMANCE INDUSTRY OVERVIEW APPENDIX Ceiling Fan Induction CHHATTISGARH. Girne 4 Q2 & H1 FY27 INVESTOR PRESENTATION
Slide 5: Q2 & H1 FY27: Robust Execution
Q2 & H1 FY27: Robust Execution Execution-Led Growth Delivering a Record Q2 Performance • Achieved best ever Q2 performance with revenue growth of 28% YoY, EBITDA margins expanding to 7.8% and PAT rising 45% YoY, reflecting strong growth and improving profitability. Strengthening Core-Market Momentum
Slide 6: Real Bharat, Real Challenges
Real Bharat, Real Challenges Q2 FY27: Macro factors impacting discretionary spending 1 2 3 4 Bihar Floods & Cyclone Staples Inflation War & LPG Price Hikes Durables Price Hikes Floods across 15 districts disrupted Rising food prices pushed Fuel worries and costlier cooking Another industry-wide pric
Slide 7: Financials: Consistent Compounding
Financials: Consistent Compounding Gaining market share (Rs. Cr) Revenue EBITDA PBT PAT 28.1% 31.6% 45.3% 45.2% 586 Q2FY27 46 458 35 18 24 13 17 Q2FY26 Q2FY27 Q2FY26 Q2FY27 Q2FY26 Q2FY27 Q2FY26 Q2FY27 Margins 7.6% 7.8% 3.7% 4.1% 2.8% 3.2% 36.8% 41.0% 27.3% 41.1% 127 96 H1FY27 1,779 170 1,398 124 90
Slide 8: H1 FY27 Operational Performance
H1 FY27 Operational Performance (Rs. Cr) SAME STORE SALES BILL CUTS (Nos. in AVERAGE SELLING GROWTH(%) ‘000) PRICE (Rs.) 18% 16.8% 6.8% H1FY27 724 22,724 24,272 620 2%* H1FY26 H1FY27 H1FY26 H1FY27 H1FY26 H1FY27 PRODUCT MIX (%) STORE COUNT (Nos.) R E TA I L F O OT P R I N T (Sq. Ft.) 13.8% 18.3% 18%
Slide 9: Q2 & H1 FY27 Financial Performance
Q2 & H1 FY27 Financial Performance Particulars (Rs. Cr) Q2FY27 Q2FY26 YoY% H1FY27 H1FY26 YoY% Revenue from Operations 586 458 28.1% 1,779 1,398 27.3% COGS 491 389 26.3% 1,491 1,185 25.9% Gross Profit 96 69 38.8% 287 213 34.9% Gross Margin % 16.3% 15.1% 125 bps 16.2% 15.2% 91 bps Other Expenses 50 34
Slide 10: Balance Sheet
Balance Sheet Particulars (Rs. Cr) Sept-26 Mar-26 Particulars (Rs. Cr) Sept-26 Mar-26 Equity Non-Current Asset (a) Equity Share Capital 13 13 Property, Plant and Equipment 136 131 (b) Other Equity 755 676 Capital Work in Progress 7 6 Total Equity 768 688 ROU 230 195 Non-current Liabilities Financial
Slide 11: Cash Flow Statement
Cash Flow Statement Particulars (Rs. Cr) Sept-26 Sept-25 Net Profit before tax 127 90 Adjustments for: Add : Depreciation 26 20 Add : Interest Expenses 17 15 Add : Shared based payment expenses - (1) Add : Asset Written off - - Less: Investment Income - - Adjustments For Working Capital Movements :
Slide 12: The Hindi Heartland Playbook to cover 45% of India's population
The Hindi Heartland Playbook to cover 45% of India's population State-by-State Conquest Till FY21 FY22 FY23 FY26 FY27 Madhya Pradesh & Bihar Jharkhand Uttar Pradesh Chhattisgarh West Bengal Founding state Entered FY22 Entered FY23 Entered FY26 Entered 120 STORES 33 STORES 56 STORES 5 STORES (Present
Slide 13: Contents
Slide 14: Aditya Vision at a Glance
Aditya Vision at a Glance Patna Showrooms Retail footprint as Headquarters 214 As on 30th Sep 4,445 Avg store size (sq ft) ~9.5 Lakh Sq ft of Q2 FY27 50%+ Mkt Share 100% Retail In Bihar as per Crisil Report Sales Largest Electronic Retailer 100+ in Jharkhand Long Term Relationships with OEMs 1st Con
Slide 15: Aditya Vision – Sambandh Bharose ka
Aditya Vision – Sambandh Bharose ka FY 2026: Started expanding in Western UP & Chhattisgarh FY 2025: Listed on NSE, Started expanding in Central UP FY 2024: First fund raise after IPO from the one of the World’s largest FII – 2,672 Capital Group Opened 18 stores in UP in one year, Crossed 100 stores
Slide 16: Unique Business Model
Unique Business Model OEM Customer Strong Financial Expanding Supply Service Management Footprint • 85% Direct OEM • Aditya Seva - One- • Low debt balance • Bihar - 120 stores Supply leading to stop solution for sheet • Jharkhand - 33 stores higher margins after-sales services • Operates on a cash -
Slide 17: Store Unit Economics At A Glance
Store Unit Economics At A Glance Rs 80-90 lacs 214 13 - 15% Average Capex per Store Stores in Bihar + Jharkhand + UP + Gross Margin Range Chhattisgarh Rs 2.75 – 3.00 Cr 6 - 12 months 3 years Average Working Capital per Store Average Store Level Break Even Payback Period Rs 1.11 Cr (in FY26) Rs 41,00
Slide 18: 2X stores in Just 3 Years
2X stores in Just 3 Years. Doubling in 3 Years – and why profitability will follow Our Store Growth Journey FY99-FY23 | 24 YRS FY24-FY26 | JUST 3 YEARS Increase Decrease Total OPEX IMPACT (SHORT TERM) New stores take ~3 years to mature 32 207 YEAR 1 Setup & Ramp-up | Achieving breakeven 30 40 YEAR 2
Slide 19: Contents
Slide 20: Historical Financial Highlights
Historical Financial Highlights (Rs. in Cr) Revenue EBITDA & EBITDA Margins PAT & PAT Margins CAGR: CAGR: CAGR: 29% 35% 31% 228 37% 41% 27% 117 204 105 96 2,672 167 170 2,260 77 133 68 124 64 1,743 1,779 10.1% 9.6% 1,322 1,398 83 5.4% 35 4.9% 4.7% 4.9% 899 9.6% 4.4% 4.4% 9.2% 9.0% 8.9% 8.5% 3.9% FY2
Slide 21: Historical Annual Financials and Operational Performance
Historical Annual Financials and Operational Performance Inventory Days** Payable Days** Working Capital Days 45 124 98 108 91 98 104 82 91 77 83 26 66 22 53 17 18 13 FY22 FY23 FY24 FY25 FY26 H1FY27 FY22 FY23 FY24 FY25 FY26 H1FY27 FY22 FY23 FY24 FY25 FY26 H1FY27 *Receivable Days are less than 0 sinc
Slide 22: Industry Overview
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Slide 23: Powering India's Retail Surge: Driving Consumer Spending Growth
Powering India's Retail Surge: Driving Consumer Spending Growth Increased household spending on consumer durables over the years Indian Consumer Durables & IT Market (Rs Bn) % of Monthly Per Capita Consumption Expenditure on Consumer Durables Rural Urban CAGR 10.3% CAGR 11.3% 7.0% 6.6% 13,737 7,856
Slide 24: Low Penetration and Rising premiumization is in favor of AVL
Low Penetration and Rising premiumization is in favor of AVL Penetration in India (%) 4-star and 5-star Acs with 2 tons Demand for Fully Automated WMs and capacity higher in demand Washer Dryers continuously rising (In INR Bn) (In INR Bn) Air Refrigerator Washing Television Water ~250 ~640 ~220 ~340
Slide 25: Shift from Unorganised to Organised
Shift from Unorganised to Organised: Aditya Vision is well positioned to benefit Consumer Durables & IT Market – Organised Retail – Brick & Mortar vs E-Retail Organised Outpacing Overall Market (Rs Trn) (Rs Trn) Organised Unorganised Brick & Mortar E-Retail 17.9 6.24 4.31 8.6 7.1 7.50 20.1 4.09 2.2
Slide 26: Hindi Heartland– Engine for Aditya Vision's Sustainable Growth
Hindi Heartland– Engine for Aditya Vision’s Sustainable Growth UTTAR PRADESH BIHAR JHARKHAND CHHATTISGARH MADHYA PRADESH WEST BENGAL • Largest state population with • Bihar is 9% of India’s Population • Cumulative FDI inflows of • ~3.1 Cr population • ~9.0 Cr population: ~6% of • ~10.1 Cr population
Slide 27: Market Penetration & Opportunity in Hindi Heartland
Market Penetration & Opportunity in Hindi Heartland Source: www.statsofindia.in , Business Standard 26 Note: The underlying data is from 2022. While absolute values have changed since, the percentage trends remain broadly in-line.
Slide 28: Rising Prosperity in Underpenetrated Hindi Heartland
Rising Prosperity in Underpenetrated Hindi Heartland Note: The underlying data is from 2022. While absolute values have changed since, the percentage trends remain broadly in-line. 27
Slide 29: Electricity Consumption Growth In Hindi Heartland States
Electricity Consumption Growth In Hindi Heartland States to Outpace Other States ~3.9x ~2.8x ~2.3x ~2.3x ~2.1x ~1.8x ~1.6x ~1.4x FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY28 (P) Uttar Pradesh Madhya Pradesh Chhattisgarh Bihar Jharkhand Maharashtra Gujarat West Bengal Source: Central Electr
Slide 30: Appendix
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Slide 31: Our Trade Partners / Our Consumer Finance Partners
Our Trade Partners Our Consumer Finance Partners ~53% Sales Financed in FY26 30
Slide 32: Board of Directors
Board of Directors Yashovardhan Sinha Nishant Prabhakar Yosham Vardhan Sunita Sinha Rashi Vardhan Chairman & Managing Director Whole Time Director Whole Time Director Non-Executive Director Non-Executive Director • Promoter, Chairman and • Promoter and Whole-time • Promoter and Whole-time • Founder,
Slide 33: Independent Directors
Independent Directors ` Ravinder Zutshi Nusrat Syed Hassan Atul Sinha Apeksha Agiwal Rahul Kumar Independent Director Independent Director Independent Director Independent Director Independent Director • 45+ years of • Managing Director at • 35+ years at UCO • Highly qualified • Qualified profession
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Slide 35: Thank You
- THANK YOU — =) 3iteedr fast For Further information, please contact: Aditya Vision Ltd. Ms. Akanksha Arya-Company Secretary Tel: +91-6122520854 Email: [email protected] www.adityavision.in Investor Relations Contact: Garima Singla - Research Analyst Tel: +91-9780042377 Email: garima@goindiaadviso