Estimated LTL revenue growth stands moderately positive as store additions continue to weigh, indicating robust demand in mature clusters while new stores stabilize.
Growth compared to Q4 FY24 (โน12,726.55 Cr) to Q4 FY25 (โน14,871.86 Cr): ~16.9% YoY growth in consolidated revenue suggests moderate LTL expansion.
Continued capex and higher inventories (โน5,044 Cr vs โน3,927 Cr) signal expansion in physical retail footprint.
Online channels via Avenue E-commerce also contributed modestly to topline.
Q4 saw margin compression owing to inventory adjustments and muted festive spillover vs Q3.
*Margins impacted by higher Opex and backend logistics costs.
Cash Flow from Operations (FY25): โน2,462.97 Cr (โ from โน2,745.84 Cr)
Capex: โน3,423.04 Cr โ major store and backend infra expansion
Despite cash outflows, the company maintained healthy cash & equivalents of โน355.48 Cr
Cautious optimism expected as operational leverage stabilizes.
Focus on enhancing productivity per store & e-commerce efficiency.
Structural story intact: value retail model, deep supply chain, cost focus.
Earnings CAGR expected at 14โ16% with margin normalization and network expansion.
Potential PE re-rating unlikely due to high base; growth-led returns more probable.
This analysis is intended for educational purposes only. Investors are advised to perform their own due diligence before making investment decisions.