Analysts/Institutional Investor Meet/Con. Call Updates

R Aditya Vision Limited R August 07, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza Dalal Street Bandra Kurla Complex, Bandra (East) Mumbai-400001 Mumbai- 400051 Scrip Code: 540205 Symbol-AVL Sub: Transcript of Analysts/Investors Call pertaining to the Unaudited Financial Results for the quarter ended June 30, 2026 Dear Sir(s) Please find attached herewith a copy of the transcript of the Analysts/Investors Call on the Unaudited Financial Results of the Company “Aditya Vision Limited” for the quarter ended June 30, 2026 held on Friday, July 31, 2026. The same is also being made available on the Company’s website at: www.adityavision.in. This is for your information and record. Yours faithfully For Aditya Vision Limited Akanksha Arya Company Secretary “Aditya Vision Limited Q1 FY27 Earnings Conference Call” July 31, 2026 MANAGEMENT: MR. YASHOVARDHAN SINHA – CHAIRMAN AND MANAGING DIRECTOR – ADITYA VISION LIMITED MS. YOSHAM VARDHAN – WHOLE TIME DIRECTOR – ADITYA VISION LIMITED MODERATOR: MS. DEVANSHI KAMDAR – AXIS CAPITAL Aditya Vision Limited July 31, 2026 Moderator: Ladies and gentlemen, good day and welcome to Aditya Vision Limited Q1 FY27 Earnings Conference Call. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I, now, hand the conference over to Ms. Devanshi Kamdar from Axis Capital. Thank you and over to you, ma'am. Devanshi Kamdar: Good evening, everyone and thank you for joining us today for Aditya Vision's Q1 FY27 Earnings Conference Call. We are glad to have the senior management team with us including Mr. Yashovardhan Sinha, Chairman and Managing Director, and Ms. Yosham Vardhan, Whole-time Director. First of all, congratulations to the management team on delivering an excellent start to the year. I will now, invite the management to share their opening remarks, after which we will move into the Q&A session. Over to you, sir. Yashovardhan Sinha: Thank you, Devanshi. Good evening, ladies and gentlemen. Welcome to Aditya Vision Q1 FY27 Earnings Conference Call. Our earnings presentation and financial results for the quarter have been uploaded to the stock exchanges. We trust you would have reviewed it by now. I'm pleased to share that Aditya Vision has delivered another quarter of strong, profitable and market share-led growth despite challenging conditions, reflecting the resilience of our business model and disciplined execution of our long-term strategy. Revenue for the quarter grew 27% Y-o-Y, ahead of our long-term growth aspiration of 20- 25%, driven by continued market share gains, healthy demand across key product categories, and the contribution from our expanding store network and strategic diversification of showrooms in different geographies pan India. This steady diversification across India insulates our business of weather-centric challenges, and we are gradually shifting towards more stable business throughout the year. As per our strategy mooted and implemented from last financial year, we have opened only three stores in Q1 thereby conserving our resources and optimizing it. This shift is clearly visible in our company's marked improvement in lowering opex, which has boosted our profits. The quality of growth was also equally encouraging. EBITDA stood at INR124 crores, while EBITDA margin expanded by nearly 90 basis points to 10.4%. Profit after tax grew 40% year-on-year to INR77 crores, with PAT margin improving by 61 basis points to 6.5%. Page 2 of 14 Aditya Vision Limited July 31, 2026 The steady improvement in profitability reflects operating leverage, disciplined cost management and improving productivity across our maturing store network coupled with sound strategies of optimization. Our performance becomes even more satisfying when viewed in the context of the operating environment. The quarter reflected the realities of consumption across real Bharat, where purchasing decisions are often influenced not only by income levels, but also by household sentiment and short-term priorities. During the quarter, LPG availability concerns in large parts of our market led to panic reactions in many households. With focus on prioritizing essential spending, consumer sentiments also remained relatively cautious, prompting some families to defer discretionary purchases. In many districts of our geography, fuel supply disruption resulted in discouraging consumers from impulsive and planned buying to preserve liquidity for a larger period. The appeal from government to desist from buying gold and other import dependent products further casted gloom over our customers' buying sentiments. This situation has improved since last quarter, but uncertainty still looms large in wake of continued West Asia war. As already spoken, weather pattern also remained significantly different across our operating geographies. While Eastern India witnessed a relatively mild summer, North and Central India experienced stronger and more sustained heat. Our expanding presence in Uttar Pradesh, therefore, proved to be a strategic advantage, helping offset relatively softer cooling demand across Bihar and Jharkhand. This demonstrated the benefit of our diversified geography footprint and enabled us to continue gaining market share despite localized disruptions. As you know, our business used to be built around seasonal demand and inventory preparedness. We entered the summer with adequate inventory to service peak demand across our markets. As weather conditions evolved differently across regions, our supply chain and procurement team responded quickly by relocating inventory across states and optimizing product availability. This enabled us to maintain healthy sell-through while strengthening our working capital position. Inventory stood at INR663 crores as of June 30, 2026, while working capital loan reduced to INR175 crores, reflecting efficient inventory management, healthy operating cash flows and continued liquidity-prioritized balance sheet discipline. Our retail expansion strategy continues to progress in line with our long-term vision. During the quarter, we opened three new stores. Our network has expanded to 210 stores as on date. We remain firmly on track to add more than 30 new stores during FY27. Page 3 of 14 Aditya Vision Limited July 31, 2026 Following our successful entry into Chhattisgarh last year, we remain on track to enter Madhya Pradesh and peripheral regions of West Bengal. Our cluster-based expansion strategy allows us to leverage existing logistics infrastructure, vendor relationship and brand recall, resulting in faster store ramp-up, superior capital efficiency and improved store-level profitability due to penetration in newer markets. I would also like to share a very important governance update. In line with our commitment to the highest standards of corporate governance, the Board has approved the appointment of MSKA & Associates LLP, Chartered Accountants, one of India's leading audit firms and an independent member firm of the BDO International network, as our statutory auditor. With our network now crossing 210 stores, we are entering the next phase of our growth journey. As our presence expands across multiple states and our store continues to mature, future growth will increasingly be driven by productivity improvement, operating leverage and more diversified geographic mix rather than store additions alone. Looking ahead, we remain optimistic. Improving disposable incomes, increasing financing penetration, supportive government initiatives and the upcoming festive season provide a favourable backdrop for demand. More importantly, we continue to believe that the long-term oppor [Showing first 8,000 characters — download PDF for full document]