BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
IDBI Capital Report
Avenue Supermarts Ltd.'s Q1 FY22 results were below expectations due to lower than expected gross margin.
Revenue growth remains healthy at 31% year-on-year driven by less stringent restrictions on personal mobility during second wave compared to the first wave of Covid-19.
However, during second wave restriction on number of hours stores were allowed to operate was more severe than last time.
Gross margin at 12.4%, is lowest ever as the company was not allowed to sell margin accretive general merchandise and apparels during the lockdown period.
Positively, e-commerce business has picked up significantly during the crisis and now contributes ~3% to consolidated revenue.
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