AnnouncementSep 2026
Sep 2026 · Announcement Under Regulation 30 Of SEBI (LODR) Regulations, 2015-Opening Of Showroom 28 Sep - Aditya Vision opened two showrooms on September 28, 2026 in Raipur and Bilaspur, taking total to 214.
Source: Bse
Aditya Vision Limited (AVL)
Micro CapConsumer stocks · Micro cap · NSE
Aditya Vision Limited is an Indian consumer electronics retailer operating primarily in the Hindi Heartland. It sells large appliances, digital gadgets, and small appliances through 207 stores across Bihar, Jharkhand, Uttar Pradesh, and Chhattisgarh, with plans to enter Madhya Pradesh. The company emphasizes direct OEM supply.
₹558.05
-12.85 · -2.25%
Market cap ₹7,494 Cr
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals14 Oct 2026 · screener
Latest result31 Jul, 08:39 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Consumer P/E 22.2 (n=441)
Technical timing lens
Trend score and candlestick chart
43NeutralSMA20 -1.4% / mo · MACD − · sector -3.7pp vs Nifty 500 (3M)
Stock trend: 47
Sector RS: 36
Sector 3M: -9.3% vs Nifty 500 -5.6%
Consumer FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
AVLD candles · FIT view+12.6%Latest close ₹558.05 on 2026-10-19
Bar
-2.5%
RSI
37
MACD hist
-4.01
52W pos
45%
2026-10-19O ₹572.55H ₹573.55L ₹555.00C ₹558.05Vol 30,281 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
AVLNifty Consumer DurablesNifty 500
- AVL
- -12.4%
- Nifty 500
- -5.6%
- Nifty Consumer Durables
- -9.7%
- Vs Nifty 500
- -6.9 pp
Chart stats
19 Oct 2026- From 52W high
- -20.8%
- 52W range position
- 45%
- ATR (14)
- 3.5%
- Volume vs 20D
- 0.27x
- Avg traded value
- ₹6.4 Cr
- 20D price channel
- ₹555 - ₹640.9
₹705
₹436.6 - ₹705
₹19.8
Latest completed session
20-session average
38.0% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is consistent.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · WATCHLIST44
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Good67
Revenue +26.9% · PAT +40.0% YoY
Technical
Neutral43
Price trend and sector-relative-strength timing.
Valuation
Legacy model-55.7%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence79
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Good · 67/100Rev +27% YoY · PAT +40% YoY · +91% QoQ · operating leverage · margin compression
Filed 31 Jul 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹1,193 Cr | +26.9% | +90.9% |
| EBITDA | ₹124 Cr | +37.8% | +143.1% |
| Operating margin | 10.0% | +0 bps | +200 bps |
| PAT | ₹77 Cr | +40.0% | +250.0% |
| PAT margin | 6.5% | +60 bps | +293 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 53.50
- P/B
- 10.90
- EV/EBITDA
- 26.28
- Market Cap
- 7494.00Cr
Profitability
- ROE
- 18.70%
- ROCE
- 17.10%
- ROA
- 9.45%
- Dividend Y
- 0.22%
Growth (CAGR)
- Revenue 5Y
- 29.00%
- EPS 5Y
- 42.00%
- Revenue 3Y
- 26.00%
- EPS 3Y
- 23.00%
Balance Sheet
- Debt/Equity
- 0.83
- Interest Coverage
- 6.41×
- Altman Z
- 9.14
- Book Value
- 53.30
Cash Flow
- FCF Yield
- 0.35%
- FCF Positive Y
- 8/5
- OCF
- 75.00 Cr
- EPS TTM
- 10.76
Shareholding
- Promoter Hold
- 47.14%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 54%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 1,193+90.9% vs prev
Net Profit
₹ CrLatest: 77.0+250.0% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term uptrend intact. RSI 37.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 falling (~1.5% over last month) — short-term momentum negative.
- RSI(14) at 37 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 21% off 52W high · 28% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
63
RS percentile
Stage 1 Base / Transition
1M return
-12.4%
3M return
-12.4%
6M return
+9.8%
1Y return
-2.2%
RS 1D
-1
RS 20D
-8
Sector rank
#9
Industry rank
#22
Stage evidence
- Price is within 3.0% of the 30-week proxy.
- The 30-week proxy changed +3.1% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price above
Sector
neutral
Industry
improving
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 100.52-1.24%
RS vs Nifty 500101
Valuation & peers
U-Score 44 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 44 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
WATCHLIST
Fundamental score breakdown
U band · WATCHLISTValuation0/30
Growth16/25
Quality13/20
Balance Sheet6/15
Cash Flow4/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
44
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
44/100 · legacy band WATCHLIST
Positive drivers
- Piotroski is strong at 8/9.
- Quality contributes 13/20 to the score.
- Growth contributes 16/25 to the score.
Main drags
- Fair-value margin of safety is negative at -55.7%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Balance sheet is weaker at 6/15; verify the latest quarterly trend.
Sector valuation model
Consumer valuation: PE/PEG and brand-quality premium
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
Primary lens
PE and PEG relative to growth, ROE, margins, and brand strength.
Secondary checks
Volume growth, pricing power, distribution, same-store or category growth.
Main risk check
Premium valuation needs durable growth and margin resilience.
PE
53.5
PB
10.9
EV/EBITDA
26.3
ROE
18.7%
ROCE
17.1%
FCF Yield
0.3%
Debt/Equity
0.8
MoS
-55.7%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
44
Previous: 44
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
-55.7%
Previous: -55.7%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
44
44
44
44
44
44
44
44
44
44
44
44
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹113.6
-391.3% MoS
Growth-justified P/E
33.3
Growth-justified Value
₹358.31
-55.7% MoS
PEG
1.56
Comparable companies
Peers
Business-comparable peers in Consumer — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
FONEBOX
SME
Fonebox Retail Ltd.
Retail
match 73
30
107.0
114.0%
-4%
OVERVALUED
CELLPOINT
SME
Cell Point (India) Ltd.
Retail
match 71
10
492.0
0.1%
-48463%
OVERVALUED
EMIL
Micro
Electronics Mart India Limited
Retail
match 60
32
36.2
6.2%
+18%
WATCHLIST
ETHOSLTD
Micro
Ethos Limited
Retail
match 60
35
65.4
7.7%
-100%
WATCHLIST
RELAXO
Micro
Relaxo Footwears Limited
Retail
match 60
25
38.8
8.3%
-860%
OVERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-06-03T04:41:26.512Z
Management commentary snapshot
FY26 revenue grew 18% YoY to Rs 2,672 Cr and PAT increased 11% YoY to Rs 117 Cr, demonstrating resilience despite H1 weather headwinds and significant store expansion.
AVL delivered robust top-line growth and maintained profitability in FY26, driven by aggressive store expansion and strategic inventory management. While SSSG moderated and margins compressed slightly, rapid footprint expansion in underpenetrated Hindi Heartland states and positive cash flow generation support the long-term growth thesis. Maturation of new stores is key for future operating leverage.
Current business mix
Revenue by Product Category (FY26)
Latest issuer-disclosed distribution across 3 reported categories.
Large Appliances60.0%
Digital Gadgets24.0%
Small & Other Appliances16.0%
Growth engines
Rapid Store Expansion
Added 102 stores in the last 3 years, nearly doubling the previous 24 years' count.
Hindi Heartland Penetration
Expanding into underpenetrated states like UP, Jharkhand, Chhattisgarh, and planned entry into MP.
Premiumization Trend
Benefiting from rising demand for premium and mid-tier consumer durables in India.
Shift to Organized Retail
Well-positioned to capture market share as the Indian consumer durables industry shifts from unorganized to organized.
Capacity and execution
New Stores
32 new stores opened in FY26, bringing total to 207.
Retail Footprint
Increased by 22% YoY to 9,13,725 sq ft in FY26.
Geographic Expansion
Entered Chhattisgarh in FY26 and plans to enter Madhya Pradesh in FY27.
Tailwinds
Rising Consumer Spending
Average monthly spending on consumer durables soared by 72% in FY25.
Low Market Penetration
India's consumer durable penetration is 3%, significantly lower than other countries, indicating growth potential.
Favorable Weather Forecast
IMD forecasts above-normal heatwave days for FY27, expected to drive RAC demand.
Increased Financing Options
Growing availability of financing options and no-cost EMIs are boosting consumption.
Headwinds
Unseasonal Rainfall
Prolonged and unseasonal rainfall in H1FY26 impacted performance.
Regulatory Changes
BEE norms change for ACs led to legacy inventory clearance at promotional prices.
New Store Maturation
New stores take ~3 years to mature, impacting short-term profitability and operating leverage.
Risk radar
Competition
The disclaimer mentions competition as a risk.
Inflationary Pressures
The disclaimer mentions inflationary pressures affecting demand/supply and price conditions.
Fiscal Policy
The disclaimer mentions risks related to fiscal policy.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
YoY is crucial for assessing overall annual growth and the impact of strategic expansion. QoQ is relevant for understanding sequential momentum, given the stated seasonality and the impact of early summer demand in Q4.
Sector KPIs management disclosed
Volume Growth (Bill Cuts)
FY26 bill cuts grew 18.9% YoY to 1,190 Lacs.
Pricing (ASP)
FY26 Average Selling Price grew 0.9% YoY to Rs 22,088.
Gross Margin
FY26 Gross Margin was 15.6%, a 16 bps decline YoY.
Distribution Expansion
Store count increased by 32 in FY26 to 207, an 18% YoY growth. Retail footprint grew 22% YoY to 9.13 lakh sq ft.
Management forward view
Resilience and Trust
Management believes FY26 performance reflects business model resilience, execution strength, and customer trust.
Future Investment
Confidently investing in future growth through significant expansion phases.
Value Creation
Foundations being built today will power the next phase of value creation.
Strategic Inventory
Strategically built inventory ahead of Q1 to anticipate strong summer demand and gain market share.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| SSSG | 8% (FY26) | Improvement as new stores mature and weather normalizes. |
| Gross Margin | 15.6% (FY26) | Stabilization or improvement as direct OEM supply and premiumization scale. |
| Operating Leverage | Expenses as % of revenue 8.7% (FY26) | Improvement as new stores mature and contribute to profitability. |
| Cash Flow from Operations | Rs 75.0 Cr (FY26) | Sustained positive generation to fund future growth. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
79Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 88th percentile of the scored universe and 92nd percentile within Consumer. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
62 docs text-extracted · 26 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
88th percentile
overall median 67 · Consumer: 92nd pctile, median 66 · Micro: 79th pctile, median 73
Evidence depth
Financial-only
62 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
78
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
81
strong · leverage and solvency
Discipline
66
acceptable · capital discipline
Results
95
strong · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 0.3%.
- ▸8 years of positive FCF.
- ▸4/4 latest quarters had positive YoY revenue growth.
Trust risks
- ▸ROCE trend is -2.2%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Aditya Vision Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Investor presentationAug 2026
Aug 2026 · PPT
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 14 Aug - CARE assigned Aditya Vision ratings for ₹500 crore bank facilities: A+ Stable and A1.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 11 Aug
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 3 Jun - Pursuant to the Regulation 30 of SEBI (LODR), Regulations 2015, we would like to inform you that the officials of the Company will be participating …
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 27 May - The officials of the Company will be meeting Analysts/Investors (Participants) as per the details given below:
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2026 from bse
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.