That probably sums up what food and grocery retailer Avenue Supermarts Ltd’s financial year 2021 (FY21) has been like. The new covid wave has led to the imposition of various restrictions across regions, which is likely to hit Avenue’s revenues in the foreseeable future. For perspective: Ebitda margin in the March 2020 and March 2019 quarters stood at 6.7% and 7.5%, respectively. Overall, for FY21, Avenue’s revenues declined by 3.6% year-on-year but net earnings fell at a sharper rate of almost 14%. In FY21, foods, non-foods (FMCG) and general merchandise and apparel, accounted for 57.4%, 19.69% and 22.90% of the revenues, respectively.

Source: Mint May 10, 2021 05:05 UTC