Avenue Supermarts Ltd.
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ABOUT
AI Sector View
AI GENERATEDConsumer Services
Consumer services have a mixed operating backdrop but strong market sponsorship. Foreign tourist arrivals in India rose 6.0% YoY (2026-06), export of services grew 13.0% YoY (2026-06), and headline tourist arrivals were 584000 (Jun/26), though airport passenger traffic was -2.0% YoY (2026-06). Strong FPI inflow of INR 19847 crore over 3 months to 2026-08-31 supports a Buy stance despite some travel softness.
PROS
- Company has delivered good profit growth of 22.0% CAGR over last 5 years
- Company is almost debt free
- Company has consistently been profitable over the last 5 years
- Company has delivered good sales growth of 23.3% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.06x)
CONS
- Stock is trading at 10.6x its book value
- Though reporting repeated profits, the company pays out little dividend (0.0%)
- Expensive relative to growth - PEG of 10.2
- Growth is decelerating - 3Y profit CAGR (7.7%) trails the 5Y trend (22.0%)
- Rich enterprise valuation - EV/EBITDA of 49.2x
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| DMART | 3687.90 | 78.66 | 240541.79 | 0.00 | 860.44 | 11.34 | 18794.53 | 14.88 | 18.03 | 7.98 |
| TRENT | 2804.40 | 82.67 | 149544.98 | 0.14 | 518.07 | 21.98 | 5754.71 | 17.84 | 36.73 | 19.45 |
| VMM | 101.50 | 53.31 | 47550.81 | 0.00 | 258.77 | 25.57 | 3727.01 | 18.68 | 19.24 | 14.61 |
| METROBRAND | 939.90 | 63.04 | 25622.76 | 0.64 | 95.26 | -3.58 | 720.36 | 14.66 | 35.77 | 29.85 |
| ABLBL | 83.43 | 57.86 | 10182.81 | 0.60 | 29.02 | 20.62 | 2045.74 | 11.15 | 27.34 | 15.06 |
| PNGJL | 613.50 | 20.26 | 9030.88 | 0.00 | 105.33 | 51.91 | 2412.98 | 40.73 | 21.80 | 7.56 |
| V2RETAIL | 218.05 | 44.50 | 7950.92 | 0.00 | 41.85 | 69.70 | 997.20 | 57.73 | 38.43 | 13.99 |
| AVL | 614.65 | 57.11 | 7937.47 | 0.20 | 77.22 | 39.99 | 1192.68 | 26.85 | 20.82 | 10.44 |
| MEDPLUS | 660.40 | 37.70 | 7933.85 | 0.00 | 33.17 | -21.67 | 1879.60 | 21.84 | 22.22 | 7.09 |
| EMIL | 188.35 | 35.15 | 7246.74 | 0.00 | 120.64 | 458.07 | 2418.95 | 39.07 | 11.84 | 9.88 |
| ETHOSLTD | 2639.25 | 67.99 | 7062.02 | 0.00 | 28.66 | 50.71 | 461.71 | 33.32 | 13.70 | 12.97 |
| VMART | 808.10 | 46.73 | 6430.49 | 0.12 | 47.21 | 40.51 | 1088.81 | 23.00 | 23.56 | 14.75 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | |
| 10,830 | 11,619 | 12,453 | 11,783 | 12,848 | 13,351 | 14,755 | 13,917 | 15,061 | 15,463 | 16,638 | 16,473 | 17,637 | |
| Operating Profit | 1,035 | 1,005 | 1,120 | 944 | 1,221 | 1,094 | 1,217 | 955 | 1,299 | 1,214 | 1,463 | 1,211 | 1,157 |
| OPM % | 8.73% | 7.96% | 8.25% | 7.41% | 8.68% | 7.57% | 7.62% | 6.42% | 7.94% | 7.28% | 8.08% | 6.85% | 6.16% |
| 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 |
| Profit before Tax | 897 | 852 | 949 | 763 | 1,054 | 903 | 995 | 720 | 1,057 | 945 | 1,175 | 904 | 1,183 |
| Tax % | 26.59% | 26.83% | 27.24% | 26.21% | 26.60% | 26.99% | 27.29% | 23.53% | 26.92% | 27.51% | 27.18% | 27.40% | 27.27% |
| Net Profit | 0 | 0 | 0 | 0 | 774 | 659 | 724 | 551 | 773 | 685 | 856 | 656 | 860 |
| 10.14 | 9.58 | 10.62 | 8.66 | 11.89 | 10.14 | 11.12 | 8.47 | 11.88 | 10.53 | 13.15 | 10.09 | 13.20 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 11,898 | 15,033 | 20,005 | 24,870 | 24,143 | 30,976 | 42,840 | 50,789 | 59,358 | 68,821 | 71,256 | |
| 10,917 | 13,680 | 18,371 | 22,742 | 22,400 | 28,478 | 39,203 | 46,685 | 54,871 | 63,634 | 66,211 | |
| Operating Profit | 981 | 1,353 | 1,633 | 2,128 | 1,743 | 2,498 | 3,637 | 4,104 | 4,487 | 5,187 | 5,045 |
| OPM % | 8.25% | 9.00% | 8.16% | 8.56% | 7.22% | 8.07% | 8.49% | 8.08% | 7.56% | 7.54% | 7.08% |
| 29 | 69 | 48 | 60 | 196 | 117 | 129 | 146 | 124 | 74 | 80 | |
| Interest | 122 | 60 | 47 | 69 | 42 | 54 | 67 | 58 | 69 | 142 | 167 |
| Depreciation | 128 | 159 | 212 | 374 | 414 | 498 | 639 | 731 | 870 | 1,037 | 1,093 |
| Profit before Tax | 747 | 1,222 | 1,422 | 1,745 | 1,483 | 2,064 | 3,060 | 3,461 | 3,673 | 4,082 | 4,207 |
| Tax % | 35.91% | 34.02% | 36.53% | 25.44% | 25.89% | 27.70% | 22.28% | 26.74% | 26.28% | 27.24% | 27.33% |
| Net Profit | 479 | 806 | 902 | 1,301 | 1,099 | 1,492 | 2,378 | 2,536 | 2,707 | 2,970 | 3,057 |
| EPS | 8.48 | 12.76 | 14.26 | 20.55 | 16.85 | 22.86 | 36.49 | 38.97 | 41.62 | 45.56 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 23%
- 5 Years:
- 23%
- 3 Years:
- 17%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 25%
- 5 Years:
- 22%
- 3 Years:
- 8%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- -1%
- 3 Years:
- -1%
- 1 Year:
- -20%
RETURN ON EQUITY
- 10 Years:
- 15%
- 5 Years:
- 14%
- 3 Years:
- 14%
- Last Year:
- 13%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 624 | 624 | 624 | 648 | 648 | 648 | 648 | 651 | 651 | 652 |
| Minority Interest | 0 | 1 | 1 | 0 | 0 | 0 | 0 | -0 | -1 | -2 |
| 3,217 | 4,022 | 4,924 | 10,405 | 11,503 | 12,990 | 15,384 | 18,010 | 20,709 | 23,728 | |
| 1,499 | 440 | 701 | 259 | 312 | 508 | 477 | 400 | 556 | 2,108 | |
| Trade Payables | 261 | 317 | 463 | 433 | 578 | 589 | 754 | 985 | 1,071 | 1,338 |
| 219 | 244 | 293 | 330 | 613 | 736 | 842 | 1,128 | 1,327 | 1,693 | |
| Total Liabilities | 5,819 | 5,648 | 7,006 | 12,076 | 13,655 | 15,471 | 18,105 | 21,172 | 24,313 | 29,518 |
| 2,550 | 3,384 | 4,382 | 5,932 | 6,999 | 9,251 | 11,332 | 13,407 | 16,199 | 20,083 | |
| Capital Work in Progress | 153 | 147 | 377 | 364 | 1,020 | 1,129 | 829 | 935 | 1,099 | 1,300 |
| 26 | 68 | 17 | 15 | 3 | 6 | 202 | 107 | 3 | 4 | |
| 948 | 1,163 | 1,609 | 1,947 | 2,248 | 2,743 | 3,243 | 3,927 | 5,044 | 5,901 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 166 | 154 | 149 | |
| Cash & Bank | 1,884 | 560 | 219 | 108 | 1,446 | 299 | 1,408 | 638 | 358 | 304 |
| 258 | 326 | 402 | 3,710 | 1,939 | 2,043 | 1,089 | 1,992 | 1,455 | 1,777 | |
| Total Assets | 5,819 | 5,648 | 7,006 | 12,076 | 13,655 | 15,471 | 18,105 | 21,172 | 24,313 | 29,518 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 713 | 1,133 | 1,309 | 1,773 | 1,637 | 1,933 | 3,339 | 2,746 | 2,463 | 3,467 | |
| Cash from Investing | -2,482 | 462 | -958 | -4,657 | -1,110 | -1,289 | -2,313 | -2,468 | -2,185 | -4,207 |
| Cash from Financing | 2,025 | -1,159 | 209 | 3,357 | -180 | -179 | -205 | -148 | -259 | 288 |
| -1 | 33 | 57 | -19 | 86 | -96 | 112 | 130 | 18 | -452 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-11 - Avenue Supermarts Limited has informed the Exchange about Receipt of no-objection letter for reclassification from Promoter Group to Public category under Regulation 31A of the SEBI (Listing Obligations
2026-09-08 - Avenue Supermarts Limited has informed the Exchange about allotment of Commercial Paper of Rs. 300 crores
2026-09-08 - Avenue Supermarts Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
2026-09-07 - Avenue Supermarts Limited has informed the Exchange regarding 'Repayment of Commercial Paper'.
2026-09-07 - Avenue Supermarts Limited has informed the Exchange regarding 'Store Opening '.
2026-09-01 - Avenue Supermarts Limited has informed the Exchange about Vesting of stock options under Avenue Supermarts Limited Employee Stock Option Scheme 2023
2026-08-31 - Avenue Supermarts Limited has informed the Exchange about Credit Rating by Crisil Ratings Limited for Non-Convertible Debentures
2026-08-27 - Avenue Supermarts Limited has informed the Exchange about ESG Rating by SES ESG Research Pvt. Ltd.
2026-08-26 - Avenue Supermarts Limited has informed the Exchange about Action(s) taken or orders passed
News
Recent coverage and analyst commentary for DMART
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