Latest news with #Noronha
Time of India
04-05-2025
- Business
- Time of India
Rising ompetition, staff costs dent DMart's margins, says CEO
Avenue Supermarts reported a 17% increase in net revenue for the quarter ended March, but faced margin pressures due to competition, rising employee costs, and service investments. While overall business remains resilient, the retailer is performing better in non-metro towns. The company is also focusing on store openings and e-commerce expansion. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Mumbai: Avenue Supermarts , which operates DMart retail stores, said its gross margins were impacted due to increased competitive intensity in the consumer goods space, rising employee costs and higher investments in service largest listed retailer posted a 17% increase in net revenue at '14,462 crore in the quarter ended March, while net profit rose 3% to '620 crore. In FY25, its total revenue was '57,790 crore, growth of 17% on a net profit increase of 9% to '2,927 crore. The retailer's Ebitda margin was 7.9% during FY25, lowest since FY21."Three things have happened during this quarter-increased competitive intensity in the fast moving consumer space has impacted our gross margins, surge in wages of entry-level positions due to demand and supply mismatch of skilled workforce; and continued investments in improving our service levels with respect to faster turnarounds on availability, checkouts and future store openings," Neville Noronha , chief executive of Avenue Supermarts , said in its earnings statement, adding that overall gross margins in the matured metro towns will remain soft for a certain period of company also had higher store openings during the quarter with 28 new doors last quarter and 50 outlets in FY25. The company said its overall business continues to be resilient in metro towns, but it is doing significantly better in non-metro January, the company announced that Anshul Asawa will replace Noronha in February 2026, after the latter chose not to continue. At present, Asawa is going through a detailed familiarisation and understanding of the organisation, and should be taking charge of all operational aspects of the retail business in another 4-5 months."This will allow me to dedicate more time on store-opening acceleration, ecommerce capacity build-up and other non-retail aspects of the business," said Noronha. The firm said profitability for its standalone online segment under DMart Ready could be some time away.
Time of India
03-05-2025
- Business
- Time of India
DMart profit margins hit lowest in 3 years
Bengaluru: The consolidated profit and EBITDA margin of Avenue Supermarts , the parent company of retail chain DMart, hit a three-year low in Q4FY25, dragged by continuing headwinds in the consumer retail sector. For the quarter ended March 31, 2025 (Q4 FY25), the retail giant reported a consolidated net profit of Rs 551 crore on revenue of Rs 14,872 crore, with a PAT margin of 3.7 per cent. This is the lowest quarterly PAT margin the company has reported since at least Q4 FY23. The consolidated EBITDA margin for the quarter stood at 6.4 per cent, also the weakest in the last 12 quarters. For the full financial year FY25, Avenue Supermarts posted a consolidated PAT margin of 4.6 per cent (against 5 per cent in FY24) and a consolidated EBITDA margin of 7.6 per cent (against 8.1 per cent in FY24). By comparison, the company reported a peak 5.5 per cent PAT and 8.5 per cent EBITDA margins in FY23. This marks a consistent two-year decline in the company's profitability metrics despite steady topline growth. 'Our revenue in Q4 FY25 grew by 16.7% over the previous year. Profit after tax (PAT) before prior period adjustments declined by 3.4% over the previous year and was not in line with sales growth,' said CEO and MD Neville Noronha in the latest quarterly results media statement. Citing key reasons for the slowdown in Q4FY25, Noronha said that the increased competitive intensity in the FMCG space has impacted the company's gross margins. Additionally, the surge in wages of entry-level positions and continued investments by the retail giant in improving its service levels for faster turnarounds on availability, checkouts and future store openings impacted the quarter's performance. Growth without margin expansion While the retailer continued to report revenue growth, it is to be noted that the contribution from high-margin non-FMCG and general merchandise and apparel segments remains flat. For FY25, the foods segment, which includes grocery, dairy, fruits and vegetables, cooking oils, etc, contributed nearly 58 per cent of the company's revenue. While the non-foods segment, that is, homecare, personal care, toiletries and general merchandise and apparel, contributed 20 and 22 per cent to the overall revenue, respectively. DMart continues to expand the store footprint and has added 50 new stores in FY25, taking the total count to 415. In the January-March quarter alone, 28 stores were opened. Noronha, in his comments, said that two-year-old and older DMart stores grew by 8.1 per cent during the quarter, as compared to 10.3 per cent in Q4 FY24, with the growth primarily driven by increased footfall. He also added that the retailer is performing significantly better in non-metro towns as compared to metros. As per the statement, Anshul Asawa, as the new CEO Designate, will take charge of all operational aspects of the retail business in the next 4-5 months, while Noronha will dedicate more time to store-opening acceleration, e-commerce capacity build-up and other non-retail aspects of the business.
Time of India
03-05-2025
- Business
- Time of India
DMart Q4 profit dips marginally to Rs 551 crore despite strong revenue growth
New Delhi: Avenue Supermarts Ltd ., which owns and operates DMart retail stores, on Saturday, has reported a marginal decline in its consolidated net profit to Rs 551 crore for the quarter ended March 31, 2025, compared to Rs 563 crore in the same period last year, reflecting a drop of 2.1% year-on-year (YoY). This was despite a healthy 17% growth in revenue, which rose to Rs 14,872 crore during the March quarter from Rs 12,727 crore in Q4FY24. The company's EBITDA stood at Rs 955 crore, marginally higher than Rs 944 crore a year ago, while EBITDA margin shrank to 6.4% from 7.4%, impacted by rising operational costs and a squeeze in gross margins. For the full fiscal year FY25, DMart posted a net profit of Rs 2,707 crore, a growth of 6.7% from Rs 2,536 crore in FY24. Annual revenue surged 16.9% to Rs 59,358 crore, as against Rs 50,789 crore in the previous fiscal. However, full-year EBITDA margin also contracted to 7.6% from 8.1% in FY24. 'Our revenue in Q4FY25 grew by 16.7% over the previous year. However, PAT before prior period adjustments declined by 3.4% and was not in line with sales growth,' said Neville Noronha , CEO & MD, Avenue Supermarts. He attributed the margin pressure to three key factors: increased competitive intensity in the FMCG space, a sharp rise in wages at entry-level roles, and ongoing investments in improving service efficiency and store expansion. The company opened a larger number of stores this quarter, which also impacted short-term margins. Same-store growth also moderated slightly. Stores older than two years grew at 8.1% in Q4FY25, compared to 10.3% in Q4FY24, driven primarily by higher footfalls. 'While gross margins remain under pressure, especially in mature metro markets, our value positioning continues to resonate strongly with shoppers,' Noronha added. The retailer's Basic EPS for Q4FY25 stood at Rs 8.47, slightly lower than Rs 8.66 in the same period last year. For FY25, EPS improved to Rs 41.61, up from Rs 38.99 in FY24. As part of a leadership transition, Anshul Asawa, the newly appointed CEO Designate, joined in mid-March 2025 and will take over operational responsibilities in the coming months. This will allow Noronha to focus more on store expansion, e-commerce capacity, and other strategic initiatives. DMart continues to perform better in non-metro towns, while like-for-like growth is higher in less saturated metro markets, the company said. However, margin softness is expected to persist in mature locations due to price competition and wage inflation. Avenue Supermarts continues to follow its EDLC-EDLP strategy (Everyday Low Cost - Everyday Low Price) to deliver value to customers by leveraging scale, operational efficiency, and a competitive procurement model.
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Business Standard
03-05-2025
- Business
- Business Standard
Avenue Supermarts net profit down 2.2% in Q4 due to lower operating margins
Avenue Supermarts consolidated net profit fell 2.2 per cent in the fourth quarter of the financial year 2024-25 (Q4FY25) to Rs 551 crore due to lower operating margins. The company, which runs DMart chain of supermarkets and hypermarkets, recorded a 16.8 per cent increase in its total revenue to Rs 14,872 crore from Rs 12,727 crore in the year-ago period. Earnings before interest, tax, depreciation and amortisation (Ebitda) in the quarter ended March stood at Rs 955 crore, as compared to Rs 944 crore in the corresponding quarter of last year. Ebitda margin stood at 6.4 per cent in Q4FY25 as compared to 7.4 per cent in Q4FY24. In FY25, its total revenue stood at Rs 59,358 crore, as compared to Rs 50,789 crore in FY24. Commenting on the performance of the company, Neville Noronha, chief executive officer and managing director, Avenue Supermarts said in a release on its brick and mortar business, 'Our revenue in Q4FY25 grew by 16.7 per cent over the previous year. Profit after tax (PAT) before prior period adjustments declined by 3.4 per cent over the previous year and was not in line with sales growth. Two years and older DMart stores grew by 8.1 per cent during Q4FY25 as compared to 10.3 per cent in Q4FY24. The growth is primarily driven by increased footfalls.' He explained that the January-March quarter saw increased competitive intensity in the FMCG space that impacted its gross margins, surge in wages of entry level positions due to demand / supply mismatch of skilled workforce, and continued investments in improving its service levels with respect to faster turnarounds on availability, checkouts and future store openings. He also said that it had a large number of store openings during the quarter. 'Anshul Asawa, our CEO Designate, has joined us in mid-March, 2025 and is going through a detailed familiarisation and understanding of the organisation. He should be taking charge of all operational aspects of the retail business in another 4-5 months. This will allow me to dedicate more time on store-opening acceleration, e-commerce capacity build-up and other non-retail aspects of the business,' Noronha said. He also said that the company's overall business continues to be resilient in metro towns. 'However, we are doing significantly better in non- metro towns. We are also having relatively better like-for-like growth in metro towns which have significantly lesser DMart Stores density. While overall gross margins in the matured metro towns will remain soft for a certain period of time, our value positioning is well anchored in the minds of the shoppers of DMart Stores,' he added. On its e-commerce business DMart Ready, Noronha said that it is growing extremely well in key metro towns. 'We have shut down several pick-up points (PUPs), however, our Home Delivery channel is growing strongly and has more than compensated for any loss of sale of the PUPs. This year was a year of reset and review. However, it is also giving us confidence that our model is scalable and relevant to the Metro City shopper who appreciates DMart Ready for its value positioning and assortment profile,' he said. 'With the DMart Store business supplemented by our refocused DMart Ready presence in select towns, we believe our ability to serve the discerning value shoppers will only strengthen over time, though profitability for the standalone online segment could be some time away,' Noronha added.
BBC News
05-02-2025
- Sport
- BBC News
Cristiano Ronaldo: 'No impossibilities' as Portugal forward turns 40
Every once in a while, Cristiano Ronaldo would drop a message to Portugal national team doctor Jose Carlos Noronha."Hey doc, any chance you could recommend a scientific article to read?" Ronaldo used to Madeira-born superstar has already admitted "enjoying studying" and "being fascinated by the longevity field," so that didn't really come as a surprise to Noronha, who has known the forward since his first Manchester United doctor, who is so highly rated back home that Jose Mourinho called him "The Very Special one", once described Ronaldo as "very inquisitive"."He would ask me if there are any new scientific articles he could read about nutrition or other related topics," Noronha said. "He's someone who does everything required to maintain the highest levels of physical and mental fitness. He's a true example."As he celebrates his birthday on Wednesday, Ronaldo is determined to prove that life begins at still doesn't lack any confidence either."I think I'm the most complete player to have existed," he said on Spanish TV on Monday. "In my opinion, I think it's me. I do everything well in football."One thing is taste - if you like Messi, Pele, Maradona, I understand that and I respect that - but saying Ronaldo isn't complete... I'm the most complete. I haven't seen anybody better than me, and I say it from the heart."He has not always been this obsessed with the idea of defying time to prolong his career for as long as he former team-mate Costinha recalls a chat they had when the number seven made his international debut for Portugal in a friendly versus Kazakhstan back in 2003."He told me, 'Costa, I'm going to play until the age of 30 and then I'll do something different.'"Not only did he not fulfil that promise, but he actually went on to impressively score more goals in his 30s - 460 - than he managed in his 20s - absolutely not normal, but then there has never been anything normal about Al-Nassr man will now be hoping to push his limits even further as he enters his 40s and shows no sign of retiring any time growing criticism from fans, and facing his own mortality in the game for perhaps the first time, in his mind, he's still got plenty to the things that still make him tick are:playing in the 2026 World Cup - and returning home with the trophy, having recently said he would like to "win something else with the national team";netting 1,000 career goals - he currently has 923;reaching 250 Portugal caps - he has 217;and sharing the pitch with his son Cristiano Ronaldo Jr, who is 14 and plays for Al-Nassr's youth it comes to Ronaldo, his compatriots have learned that, as he usually says, "there are no impossibilities"."Ronaldo does things, but he does them knowing all the whys, and that's what impresses me. I'm convinced he'll continue for another one, two, or even three years," said his former Al-Nassr coach Luis Castro. 'He allows our small country to be known worldwide' It would have been impossible to predict Ronaldo would accomplish everything he has, but the mentality was there from the very beginning."I remember us being ready to step on to the pitch to face Manchester United [in the 2003 friendly at Alvalade], with both teams lined up side by side - United with big names like [Ryan] Giggs, Paul Scholes, and [Ruud] Van Nistelrooy," Joao Aroso, who was Sporting fitness coach back then, told BBC Sport."And you'd expect Cristiano, an 18-year-old at the time, to look at them, at such famous players. But I remember looking at Cristiano and seeing him completely focused on the game, not distracted at all - he didn't even glance at them."That says a lot about his personality."Ronaldo would go from there to United, then to Real Madrid and finally to Juventus, winning five Ballons d'Or and becoming arguably Portugal's greatest-ever player along the Manchester United performance coach Mick Clegg, told BBC Radio 5 Live's Football Daily: "I have looked at loads of great people since working with Ronaldo and I think Cristiano Ronaldo is in the league of Leonardo da Vinci, Albert Einstein, Isaac Newton, Nikola Tesler and Stephen Hawking. And what are they? They are all geniuses and he is a genius."In the first session in the gym when he came to United he said 'I am going to be the best player in the world', and it was quite startling. He is unique."His plan was to get every bit of information out of those who were going to coach him and challenge them. His whole mind is about creating something great."Cristiano is only made of blood and bone. Is it possible there are more people like him? I just hoped someone would come along with anything like he has but they are so remote."Ronaldo has been involved in more than 30% of the matches ever played by the national team. But more importantly, he's changed the perception around a team that had always been known for an inferiority complex that held them back in the past."Cristiano is one of a kind," said Aroso, who also worked with the forward as a Portugal assistant coach and is currently part of the South Korea national team staff."He's defined a style, in every way, with his relentless ambition to break records and the age to which he continues to play. Just as Maradona was unique, as Pele was unique, as [Lionel] Messi is unique, Cristiano is too, for his own reasons."What I want to highlight is that for Portugal, having a player like Cristiano is extremely important. We are a small country that rarely has a global impact outside of football."He allows our small country to be known worldwide for something great - because of Cristiano and all the positive things he stands for."There doesn't seem to be much doubt that - as long as Euro 2016 winners Portugal qualify - he will be at the 2026 World Cup. The real question mark is whether he can make it to 2030, when the country will co-host it."I have no doubt [that he can do it]. He'll go on another diet and be there, nice and slim," former winger Nani said with a smile. Building a business empire With a reported lucrative offer on the table to renew his Al-Nassr contract that would make him a co-owner of the Saudi team, Ronaldo is yet to announce his won only one piece of silverware since moving to the Middle East in December 2022 - the Arab Champions Cup in 2023 - the Portuguese legend will bear that in mind when it comes to any decision, as he wants to be able to fight for trophies in the final years of his it remains to be seen where he will be playing after June, he's already preparing his future."I'm still very young, I have so many plans and dreams ahead, but mark my words - I'll be the owner of a big club, for sure," Ronaldo promised during the Globe Soccer Awards from the pitch, the long-running rape allegation case - always denied by Ronaldo and dismissed by the court - is now several years behind has been building a business empire with ventures in a wide range of industries - including TV channels, hotels, hair transplant clinics, racquet sport padel, and to Expresso, a leading weekly Portuguese newspaper, he has more than doubled the number of organizations in which he holds a majority share through his company, CR7 SA, over the last two years. In total, he has stakes in 21 different enterprises."As you all know, I have investments in various sectors, and what I want most is to keep moving forward," he whose YouTube channel was the fastest ever to reach one million subscribers - he currently has 73 million - has his older brother Hugo Aveiro and former Sporting team-mate Miguel Paixao among his right-hand men to manage his businesses.A candidate in the upcoming Portuguese presidential elections has announced recently that he would like to have Ronaldo on his Council of State if elected, but that can be ruled out. For now, at least.
