Aditya Vision Ltd Company Fundamental Analysis

AVL Aditya Vision Ltd is a consumer electronics and home appliances retail company headquartered in Bihar. It operates a chain of multi-brand retail stores selling televisions, refrigerators, washing machines, air conditioners, mobile phones, kitchen appliances and other consumer durables. Q2 FY27 performance: The company reported standalone revenue from operations of ₹586 crore, up 27.9% YoY. EBITDA increased approximately 27.5% to ₹47 crore, while net profit grew 41.5% to ₹18 crore. For H1 FY27, revenue increased 27.3% to ₹1,779 crore and net profit rose 41.2% to ₹96 crore. These are healthy growth numbers, although the Q2 EBITDA margin was approximately 7.5%, almost unchanged from 7.6% in Q2 FY26. An important point is seasonality. Q1 revenue was ₹1,193 crore, compared with ₹586 crore in Q2. This sharp sequential decline should not automatically be interpreted as business deterioration because the company itself identifies seasonal variation in sales. However, investors should focus on the half-year and full-year trend rather than relying on a single quarter. Financial position and valuation: As of September 2026, the company reported inventory of ₹865 crore, borrowings of ₹293 crore and lease liabilities of ₹282 crore. Inventory is a major component of its working capital, which is normal for an electronics retailer but creates risks of slow-moving stock, discounting and cash-flow pressure. The stock was trading around ₹545–560 in early November, with a market capitalisation of approximately ₹7,200 crore and a P/E of around 45–46x. Aditya Vision has a scalable retail business, strong regional positioning and healthy revenue and profit growth. Its expansion opportunity is attractive, particularly in underpenetrated markets. However, the key concern is valuation: at roughly 45x earnings, the market is already pricing in substantial future growth.