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Systematix Research Report
Aditya Vision Ltd., incorporated in 1999, is an emerging consumer durables retailer, having a dominant presence in India's Bihar market. The company is now expanding into other geographies in the Hindi heartland.
It enjoys 50% plus market share in Bihar, and has entered the adjacent markets of Jharkhand in FY22 and Uttar Pradesh FY23. An aspiring large population and rise in electrification in tier-II, III markets in the Hindi belt are factors that are driving the strong demand for consumer electronics.
Its strong focus on customer service and shopping experience have helped Aditya Vision in creating strong brand equity and a loyal customer base, which in turn have helped it in attracting more than 100 leading durable brands.
The company enjoys an enviable track record of zero store closures so far and 100% business-to-consumer sales. A key differentiator for the company in our view is the extremely low penetration of durables in the Hindi belt, where most of its customers are first time buyers. This, in addition to the large premiumisation and cross-sell opportunities, make the retailer an attractive client for brands.
After its success in Bihar, the company is now looking to replicate its model in the adjacent states.
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