Avenue Supermarts Ltd
DMART NSE
Avenue Supermarts Ltd
Consumer Discretionary F&ONSE: DMART BSE: 540376 Retailing
Key Fundamentals
LargecapDiversified RetailRetailMarket Cap
2.6L Cr
Volatility
Moderate
P/E Ratio
84.81
EBITDA
₹5,261 Cr
Return on Equity
12.14%
Debt to Equity
0.1
Book Value
₹375.07
EPS
₹40.74
52W High
₹4,949.5
52W Low
₹3,529
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Avenue Supermarts Ltd insights
40 extracted metrics + investor summaries across FY14–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
1- Company's median sales growth is 25.3% of last 10 years
Weaknesses
3- Stock is trading at 10.6 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 13.5% over last 3 years.
Growth Rate
Revenue Growth
15.82% ↗
Net Income Growth
9.70% ↘
Cash Flow Change
40.75% ↗
ROE
-3.96% ↘
ROCE
-3.07% ↘
EBITDA Margin (Avg.)
-1.42% ↘
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 5d agoAI opinion · based on fundamentals
Risk high
Avenue Supermarts trades at a market cap of ₹2,62,555 Cr with a P/E of 86.1x and P/B of 10.76x, reflecting premium valuations. The company has delivered a 10-year sales CAGR of 23% and profit CAGR of 25%, though recent profit growth has moderated to 13% TTM and ROE stands at ~13-14%.
Bull Case 7
- 10-year compounded sales growth of 23% demonstrates a proven, scalable retail model with consistent revenue expansion
- 10-year compounded profit growth of 25% shows strong operating leverage and disciplined cost management over a long period
- Median sales growth of 25.3% over the last 10 years indicates sustained demand and successful store additions
- TTM revenue growth of 16% shows continued top-line momentum even on a larger base of ₹2.6 lakh Cr market cap
- 5-year compounded sales growth of 23% indicates the business maintained its growth trajectory through the pandemic period
- Debt-to-equity is not flagged as a concern, and the company has historically operated with a lean balance sheet, supporting its asset-light expansion model
- Consistent ROE of 14% over 3, 5, and 10-year periods shows stable return generation without significant deterioration
Bear Case 8
- P/E ratio of 86.1x is extremely elevated, pricing in years of perfect execution with minimal margin of safety
- P/B ratio of 10.76x means investors are paying nearly 11 times book value, leaving significant downside risk if growth slows
- Stock has delivered -7% returns over the past 1 year, underperforming the broader market despite continued business growth
- TTM profit growth of 13% has decelerated sharply from the 5-year CAGR of 22%, suggesting margin pressure or base normalization
- ROE of 13-13.5% over recent periods is modest for a company commanding an 86x earnings multiple — typical high-P/E companies deliver 20%+ ROE
- Zero dividend yield means shareholders rely entirely on capital appreciation, with no income cushion during periods of flat or negative stock performance
- 3-year stock CAGR of just 5% and 5-year CAGR of 2% show the stock has largely stagnated even as earnings grew, indicating prior overvaluation being digested
- 3-year profit CAGR of only 8% compared to 10-year CAGR of 25% signals a meaningful slowdown in earnings growth trajectory
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 5h ago Headwinds 1
- Construction violation fines Jul 25
NOIDA penalized ₹50 lakhs and PMRDA ₹12.14 lakhs for construction non-compliance. Company states no material operational impact.
Positives 3
- FY26 revenue up 15.9% YoY Jul 25
Standalone revenue hit ₹66,968 crore in FY26, up 15.9% YoY. PAT rose 10.1% to ₹3,224 crore, though EBITDA margin contracted slightly to 7.85%.
- Store count reaches 506 Aug 4
Opened 506th store in Barabanki on Aug 4 and 505th in Udaipur on Jul 27, continuing expansion in Uttar Pradesh and Rajasthan.
- ESG progress in FY26 BRSR Jul 23
Filed FY26 sustainability report showing 54.5 MW solar capacity, 99% waste recycling, and 0.58 LTIFR with independent assurance from Grant Thornton.
Neutral 4
- ₹300 Cr CP raised at 6.70% Aug 11
Allotted ₹300 crore unsecured Commercial Paper on Aug 11 at 6.70% coupon, maturing in 90 days.
- ₹39 Cr in block trades Aug 3
Two NSE block trades totalling ~₹39.14 crore executed at ₹4,003.60 and ₹3,967.00 per share, indicating institutional activity.
- Investor meets with major funds Jul 29
Held one-on-one meetings with Capital Research, ICICI Prudential MF, Nippon India MF, SBI MF, and SBI Pension Fund on Jul 28-29. No UPSI shared.
- AGM scheduled Aug 19, 2026 Jul 25
26th AGM set for Aug 19 via video conferencing. Remote e-voting window runs Aug 14-18.
TL;DR: Avenue Supermarts delivered solid FY26 growth with revenue up 15.9% and PAT up 10.1%, while continuing aggressive store expansion past the 506-store mark. EBITDA margin compression to 7.85% amid expansion is a minor concern but not alarming. The construction fine is immaterial. With steady institutional interest and continued store rollouts, the growth trajectory remains intact heading into FY27.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 11,865 | 12,624 | 13,572 | 12,727 | 14,069 | 14,444 | 15,973 | 14,872 | 16,360 | 16,676 | 18,101 | 17,684 | 18,795 |
| Expenses | 10,830 | 11,619 | 12,453 | 11,783 | 12,848 | 13,351 | 14,755 | 13,917 | 15,061 | 15,463 | 16,638 | 16,473 | 17,295 |
| Operating Profit | 1,035 | 1,005 | 1,120 | 944 | 1,221 | 1,094 | 1,217 | 955 | 1,299 | 1,214 | 1,463 | 1,211 | 1,499 |
| OPM % | 9% | 8% | 8% | 7% | 9% | 8% | 8% | 6% | 8% | 7% | 8% | 7% | 8% |
| Other Income | 39 | 37 | 33 | 38 | 42 | 34 | 24 | 25 | 19 | 20 | 17 | 18 | 26 |
| Interest | 15 | 16 | 15 | 13 | 16 | 16 | 18 | 19 | 29 | 35 | 37 | 41 | 54 |
| Depreciation | 162 | 174 | 189 | 205 | 193 | 208 | 228 | 241 | 232 | 253 | 268 | 284 | 288 |
| PBT | 897 | 852 | 949 | 763 | 1,054 | 903 | 995 | 720 | 1,057 | 945 | 1,175 | 904 | 1,183 |
| Tax % | 27% | 27% | 27% | 26% | 27% | 27% | 27% | 24% | 27% | 28% | 27% | 27% | 27% |
| Net Profit | 659 | 623 | 690 | 563 | 774 | 659 | 724 | 551 | 773 | 685 | 856 | 656 | 860 |
| EPS in Rs | 10.12 | 9.58 | 10.61 | 8.66 | 11.89 | 10.14 | 11.12 | 8.47 | 11.88 | 10.53 | 13.15 | 10.07 | 13.19 |
Profit & Loss
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 6,439 | 8,584 | 11,898 | 15,033 | 20,005 | 24,870 | 24,143 | 30,976 | 42,840 | 50,789 | 59,358 | 68,821 | 71,256 |
| Expenses | 5,983 | 7,919 | 10,929 | 13,680 | 18,371 | 22,742 | 22,398 | 28,474 | 39,201 | 46,683 | 54,864 | 63,632 | 65,869 |
| Operating Profit | 456 | 664 | 969 | 1,353 | 1,633 | 2,128 | 1,745 | 2,502 | 3,639 | 4,106 | 4,495 | 5,189 | 5,387 |
| OPM % | 7% | 8% | 8% | 9% | 8% | 9% | 7% | 8% | 8% | 8% | 8% | 8% | 8% |
| Other Income | 20 | 17 | 28 | 88 | 48 | 60 | 194 | 114 | 128 | 145 | 117 | 72 | 80 |
| Interest | 72 | 91 | 122 | 60 | 47 | 69 | 42 | 54 | 67 | 58 | 69 | 142 | 167 |
| Depreciation | 82 | 98 | 128 | 159 | 212 | 374 | 414 | 498 | 639 | 731 | 870 | 1,037 | 1,093 |
| PBT | 323 | 492 | 747 | 1,222 | 1,422 | 1,745 | 1,483 | 2,064 | 3,060 | 3,461 | 3,673 | 4,082 | 4,207 |
| Tax % | 34% | 35% | 36% | 34% | 37% | 25% | 26% | 28% | 22% | 27% | 26% | 27% | — |
| Net Profit | 212 | 320 | 479 | 806 | 902 | 1,301 | 1,099 | 1,492 | 2,378 | 2,536 | 2,707 | 2,970 | 3,057 |
| EPS in Rs | 3.77 | 5.7 | 7.67 | 12.92 | 14.46 | 20.09 | 16.97 | 23.04 | 36.69 | 38.97 | 41.61 | 45.56 | 46.94 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 562 | 562 | 624 | 624 | 624 | 648 | 648 | 648 | 648 | 651 | 651 | 652 |
| Reserves | 638 | 959 | 3,218 | 4,045 | 4,963 | 10,432 | 11,536 | 13,030 | 15,430 | 18,047 | 20,777 | 23,812 |
| Borrowings | 904 | 1,192 | 1,497 | 439 | 700 | 333 | 393 | 647 | 643 | 592 | 820 | 2,425 |
| Other Liabilities | 251 | 389 | 480 | 540 | 718 | 663 | 1,079 | 1,146 | 1,383 | 1,882 | 2,065 | 2,629 |
| Total Liabilities | 2,355 | 3,102 | 5,819 | 5,648 | 7,006 | 12,076 | 13,655 | 15,471 | 18,105 | 21,172 | 24,313 | 29,518 |
| Fixed Assets | 1,528 | 2,094 | 2,578 | 3,400 | 4,400 | 5,948 | 7,009 | 9,260 | 11,340 | 13,415 | 16,206 | 20,090 |
| CWIP | 98 | 82 | 153 | 147 | 377 | 364 | 1,020 | 1,129 | 829 | 935 | 1,099 | 1,300 |
| Investments | 15 | 29 | 26 | 68 | 17 | 15 | 3 | 6 | 202 | 107 | 3 | 4 |
| Other Assets | 713 | 897 | 3,063 | 2,033 | 2,212 | 5,749 | 5,624 | 5,076 | 5,733 | 6,716 | 7,004 | 8,123 |
| Total Assets | 2,355 | 3,102 | 5,819 | 5,648 | 7,006 | 12,076 | 13,655 | 15,471 | 18,105 | 21,172 | 24,313 | 29,518 |
Cash Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 222 | 433 | 455 | 730 | 807 | 1,280 | 1,375 | 1,372 | 2,630 | 2,746 | 2,463 | 3,467 |
| Investing | -474 | -633 | -2,482 | 464 | -958 | -4,657 | -1,110 | -1,289 | -2,313 | -2,468 | -2,185 | -4,207 |
| Financing | 234 | 196 | 2,025 | -1,159 | 209 | 3,357 | -180 | -179 | -205 | -148 | -259 | 288 |
| Net Cash Flow | -17 | -3 | -1 | 34 | 57 | -19 | 86 | -96 | 112 | 130 | 18 | -452 |
| Free Cash Flow | -255 | 435 | -180 | -179 | -602 | -426 | -652 | -1,017 | 424 | 24 | -954 | -646 |
| CFO/OP | 71 | 90 | 74 | 84 | 80 | 83 | 94 | 77 | 92 | 85 | 76 | 87 |
Ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 0 | 0 | 1 | 1 | 1 | 0 | 1 | 1 | 1 | 1 | 1 | 1 |
| Inventory Days | 36 | 34 | 34 | 34 | 35 | 34 | 40 | 38 | 33 | 33 | 36 | 37 |
| Days Payable | 8 | 10 | 9 | 9 | 10 | 8 | 10 | 8 | 8 | 8 | 8 | 8 |
| Cash Conversion Cycle | 28 | 24 | 26 | 25 | 26 | 26 | 30 | 31 | 26 | 26 | 30 | 29 |
| Working Capital Days | 22 | 6 | 4 | 16 | 11 | 22 | 23 | 23 | 20 | 25 | 23 | 18 |
| ROCE % | 21% | 24% | 21% | 24% | 26% | 20% | 13% | 16% | 20% | 19% | 18% | 17% |
Documents
2
Announcement under Regulation 30 (LODR)-Change in Management
2 May - Independent director tenure ends; senior management roles changed effective 2 May 2026. 2 May - Independent director tenure ends; senior management roles changed effective 2 May 2026.
3
Grant Of Stock Options
2 May - Avenue Supermarts granted 50,000 stock options on 2 May 2026 under ESOP Scheme 2023. 2 May - Avenue Supermarts granted 50,000 stock options on 2 May 2026 under ESOP Scheme 2023.
4
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
2 May - Allotment of equity shares under Avenue Supermarts Limited ESOP Scheme 2016 2 May - Allotment of equity shares under Avenue Supermarts Limited ESOP Scheme 2016
5
Announcement under Regulation 30 (LODR)-Change in Management
2 May - Independent director tenure ends; senior management roles changed effective 2 May 2026. 2 May - Independent director tenure ends; senior management roles changed effective 2 May 2026.
Frequently Asked Questions about Avenue Supermarts Ltd
What does Avenue Supermarts Ltd do?
Avenue Supermarts Limited (DMart) is a national supermarket chain, with a focus on value-retailing. We offer a wide range of products with a focus on the Foods, Non-Foods (FMCG) and General Merchandise
& Apparel product categories.[1]
Where is Avenue Supermarts Ltd (DMART) listed?
Avenue Supermarts Ltd is listed on the Indian stock exchanges. It is listed on NSE: DMART and BSE: 540376. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Avenue Supermarts Ltd belong to?
Avenue Supermarts Ltd operates in the Consumer Discretionary sector within the Retailing industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Avenue Supermarts Ltd?
Avenue Supermarts Ltd has a market capitalisation of approximately ₹259744.14 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Avenue Supermarts Ltd?
The Price-to-Earnings (PE) ratio of Avenue Supermarts Ltd is 84.81. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Avenue Supermarts Ltd?
Over the past 52 weeks, Avenue Supermarts Ltd has traded between a low of ₹3,529 and a high of ₹4,949.5. This range helps investors understand the stock's price volatility and recent trading levels.
What is the Return on Equity (ROE) of Avenue Supermarts Ltd?
Avenue Supermarts Ltd has a Return on Equity (ROE) of 12.14%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Avenue Supermarts Ltd on Tapetide?
On Tapetide, you can view Avenue Supermarts Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
Avenue Supermarts Limited (DMart) is a national supermarket chain, with a focus on value-retailing. We offer a wide range of products with a focus on the Foods, Non-Foods (FMCG) and General Merchandise & Apparel product categories.[1]