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Avenue Supermarts Limited - Q4FY21 Business Update

Posted On: 2021-04-05 09:47:20 (Time Zone: Arizona, USA)

Avenue Supermarts Limited has announced the quarterly update of the Company at the end of Q4 of Financial Year 2021 (January 2021- March 2021).

- Standalone Revenue from operations for the quarter stood at INR 7,303.13 crore as compared to INR 6,193.53 crore in the same period last year.

- The total number of stores as of March 31; 2021 stood at 234. (During FY 2020-21 we opened 22 new stores and converted 2 stores into fulfilment centers for Avenue E-commerce Limited)

The Standalone Revenue from operations given above is subject to audit by the Statutory Auditors of the Company.

2 years and older stores growth for the months of January-February 2021 was 6% as compared to same period last year. These stores saw a negative growth of 9.4% for the first 15 days of March 2021 as compared to first 15 days of March 2020. This is primarily due to full or partial lockdowns implemented from the start of March 2021 across cities due to increase in Covid-19 cases. The second fortnight of March :Wl.1 shows s1gnif1cant growth as compared to same period last year. This is because of a lower base in the same period last year as lockdown measures in some form began from 16th March 2020 and within days culminated into a full scale countrywide lockdown.

Due to increased Covid-19 cases since March 2021 several restrictions have been put in place in certain cities and towns where we operate. The number of cities and stricter enforcements keep growing every day. Enforcements vary from restricted hours of operation, to store closures on certain days of the week, to abrupt shutdowns for a continuous week or more. Several stores have been restricted to sell non-essential products on certain days of the week or for continuous period of at least up to the end of April 2021.

Our business will continue to be dependent on how the pandemic trends further and the consequent restrictions for operating our stores. We continue to cooperate with the authorities and our single most important priority is to keep our customers and employees safe.

Shares of Avenue Supermarts Ltd was last trading in BSE at Rs.2848.4 as compared to the previous close of Rs. 2911.4. The total number of shares traded during the day was 21311 in over 2966 trades.

The stock hit an intraday high of Rs. 2909.95 and intraday low of 2795. The net turnover during the day was Rs. 60456233.

Source: Equity Bulls

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