Low price online grocery supermarket, Grofers has announced its successful growth registering a strong single day sale crossing Rs. 7.8 crore on April 1, 2018, a five-fold growth, as compared to last year.
The brand led a dramatic shift in its customer base with 75 percent women customers as opposed to 69 percent men, over last year. With many firsts starting this financial year, FY 2017-18 led a significant shift in the online grocery shopping trends among Indians.
The shift has led to significant increase in cart size with women accounting for almost 80 percent of the sales on the platform.
With 12 percent of new users on the platform being first-time online buyers, it is interesting to note that affordable data connections are driving the uptake of online shopping amongst women.
Further, Jio has also accelerated the adoption, as a large user base of almost 43 percent comes from users who are using Jio.
"We are proud to register a phenomenal growth and shift in the grocery buying habits of middle-income Indian customers. As we increasingly become a preferred destination for online grocery shopping, we are delighted to notice the shift with women user base forming a larger buyer section leading to strong customer stickiness and increase in cart size," said Albinder Dhindsa, co-founder, and CEO, Grofers.
"This certainly is a testament to providing quality and consistency in the products and experience at our platform. Along with this, we continue to work with a lot of regional brands to help them with better visibility and distribution - falls in line with one of our goals of being able to make small manufacturers 50 percent of the Grofers platform within the next 12 months. As we continue to see the interesting shifts and trends shaping up the future of online grocery shopping, we reinforce our commitment to the growth of the market," Dhindsa added.
Almost 50 percent of the Grofers' orders have come from sectors of the city demarcated as high population density, low income in Delhi-NCR.
Gulabs, the makers of tasty and delectable hand-crafted Indian snacks has partnered with BigBasket, the leading online food and grocery store.
Under this partnership, customers in Chennai, Bangalore, Mumbai, Pune and Hyderabad will be able to buy Gulabs products through the BigBasket.com website from the comforts of their home. The much sought after items of Gulabs such as Khakhras, Shartbats, Masalas and Pickles will be available at the website from now on.
Commenting on the partnership, Ruchika Gupta, VP – Sales and Marketing of Gulabs said, “BigBasket is a renowned player for online food and grocery shopping and the collaboration between Gulabs and BigBasket will let the consumers across different cities access our products in a jiffy. BigBasket’s strong foothold in these cities and our handcrafted beverages and snacks is a right combination to make this partnership a success.”
Gulabs Khakhras are available in Ajwain, Besan, Methi, Moongadi and Plain flavours. Shartbats come in Jeera, Lemon Ginger, Lemon, Paan, Pudina, Rose, Saunf and Thandai. In Masalas, there is a wide variety that includes Garam Masala, Malagapodi, Rasam masala, Rice podi, Sambar masala, Tea masala powder and Ukali. Tangy Lemon (oil free) flavour is available in Pickles.
Zomato has seen a huge improvement in user metrics towards the end of FY18, said its largest shareholder Info Edge at the financial results on May 30.
The company witnessed an increase in its order volumes, an important metric for companies in this space, but its average order values have dropped as it goes head-to-head against competitor Swiggy.
The investor maintained that Zomato’s average order value is still higher than that of Swiggy. Info Edge’s Sanjeev Bikhchandani further added that Zomato, which has narrowed the gap between itself and Swiggy, will continue to spend aggressively as it rapidly expands in India.
In April, Zomato had said that it saw a 45% increase in revenues to Rs 481 crore ($74 million) for FY18 while there is a slight reduction in operational burn to about $11 million compared to $15 million in FY17. Meanwhile, the net loss of Info Edge on a standalone basis was Rs 13.7 crore for the quarter ended March 2018 as opposed to its net profit of Rs 32.8 crore in the previous fiscal.
Parent of D-mart, Avenue Supermarts plunged over 5 per cent on Friday afternoon after a financial daily confirmed Radhakishan Damani, the founder’s plan to sell the stake in the company.
Damani will offload 62.40 lakh shares, or 1 per cent equity, between May 21 and June 14, according to the report. He will sell shares to achieve the minimum public shareholding requirement.
The scrip was trading 5.23 per cent down at Rs 1,417 at around 1.18 pm whereas benchmark BSE Sensex dropped 217 points, or 0.62 per cent, at 34,931.
At current price of Rs 1,400 per share, the value of 1 percent equity of Avenue Supermarts stands at over Rs 850 crore.
The promoter and promoter group held 82.20 per cent stake in the company as of March 31, 2018.
Avenue Supermarts (D-Mart) on Saturday reported 72.9 per cent year-on-year (YoY) rise in net profit at Rs 167 crore for the March quarter.
The food & grocery retailer reported Rs 97 crore profit in the year-ago quarter.
Total revenue for the quarter came in at Rs 3,810 crore, up 22.5 per cent YoY. The company had clocked Rs 3,111 crore sales in the same period last year.
For the quarter rose to Rs 294 crore in March quarter from Rs 208 crore in the corresponding quarter of last year. Ebitda margin improved to 7.7 per cent from 6.7 per cent in the year-ago quarter.
India’s leading food & grocery retailers, Avenue Supermarts Ltd. (ASL) has declared its financial results for the quarter and year ended March 31, 2018.
Total Revenue for the quarter ended March 31, 2018 stood at Rs. 3,810 crore, as compared to Rs 3,111 crore in the same period last year. ASL’s Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q4FY18 stood at Rs. 294 crore, as compare to Rs. 208 crorein the corresponding quarter of last year. The company’s EBITDA margin improved from 6.7% in Q4FY17 to 7.7% in Q4FY18.
The Company reported Net Profit of Rs. 167 crore for Q4FY18, as compared to Rs. 97 crore in the corresponding quarter of last year. The company’s PAT margin improved from 3.1% in Q4FY17 to 4.4% in Q4FY18.
Basic Earnings per share (EPS) for Q4FY18 stood at Rs. 2.68, as compared with Rs. 1.69 for Q4FY17.
Total Revenue for FY 18 stood at Rs. 15,009 crore, as compared to Rs. 11,881 crore for FY 17. ASL’s EBITDA in FY18 stood at Rs. 1,337 crore, as compared to Rs. 964 crore during FY17. The company’s EBITDA margin improved from 8.1% FY17 to 8.9% in FY18.
For FY 18 ASL’s net profit grew by 62.6% to Rs. 785 crore, as compared to Rs. 483 for last year. The company’s PAT margin improved from 4.1% in FY17 to 5.2% in FY18.
For FY 18, Basic EPS stood at Rs. 12.57 as against Rs. 8.56 in FY17.
D-Mart follows Everyday low cost - Everyday low price (EDLC-EDLP) strategy which aims at procuring goods at competitive price, using operational and distribution efficiency and thereby delivering value for money to customers by selling at competitive prices.
Commenting on the financial performance of the company, CEO & Managing Director, Avenue Supermarts Limited, Neville Noronha said, “Deflation in staples, tax rates not being comparable, store addition not in line with expectation and base effect of demonetization has made March 2018 revenue a little tepid. Grooming talent and store addition shall continue to remain two main challenges as well as focus areas for the Company.”
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