Aditya Vision Anticipates 20-25% Sales Boost During Festive Season, Says Chairman Yashovardhan Sinha
The Chairman also spoke about plans of opening new stores in Jharkhand and Uttar Pradesh.
Joining NDTV Profit for a discussion on how the new GST rates are going to impact the electronics retailer store chain Aditya Vision, Chairman and Managing Director Yashovardhan Sinha expressed positive sentiment and said that he expects sales to rise by 20-25% in the second half of FY26.
Sinha also talked about muted growth in the first two quarters of FY26 caused by unseasonal rains and lower temperatures, which led to a decrease in AC sales, and stated, "We could still give 6% growth in sales; therefore, we are expecting very good third and fourth quarters because of pent-up demands."
The MD also informed us that demand shot up from the first day of Navratra onwards and added, "Because of such a sharp cut in taxes, I think demand for ACs and larger-sized TVs is going to be very good going forward."
He also explained how Aditya Vision is looking beyond Navratra as the only festive season and how the festive season for the chain would extend up to Dhanteras, Diwali and Chhat Pooja for areas around Bihar, Jharkhand and Eastern UP.
"We are expecting very good numbers, very good enquiries, and a lot of people flocking in. The media has also done a good job of creating awareness... This is one of the sharpest cuts in taxes I have seen," Sinha said.
The Chairman also spoke about plans of opening new stores in Jharkhand and Uttar Pradesh. He said they might look at opening 20-30 new stores on top of the existing 30 and 36 in the concerned states, respectively.
Funding, Sinha said, will be done via internal accruals.
On combatting challenges in the first two quarters, he said the company was prudent enough to know when to stop giving fresh orders: "We were quick to understand the situation in Q1, and we stopped giving fresh orders by mid-May," and added that whatever inventory was left placed them comfortably.
