Avenue Supermarts - Festive Season Drives Q3 Revenue Growth: IDBI Capital
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IDBI Capital Report
Avenue Supermarts Ltd. Q3 FY21 results was better than expectations driven by meaningful recovery during the festive months of October-November 2020.
Re-introduction of night curfew and weekend closure by the government due to Covid-19 concerns impacted business-recovery during Dec-20.
DMart added only one store during the quarter. DMart-Ready has been launched in select pin codes of Ahmedabad, Bangalore and Hyderabad.
We read this as positive-sign; solving for convenience through disruptive business models is not just a trend but a business reality.
Strong recovery during festivals is a testimony that DMarts’s business is under no risk due to Covid-19 induced change in customer behavior.
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