Avenue Supermarts Ltd.

•

dmartindia.comBSE: 540376NSE: DMART

Market Cap₹ 2,43,288 Cr.

Current Price

High / Low₹ 4,818 / 3,529

Stock P/E73.1

Book Value₹ 404

Price to Book10.15

Dividend Yield0.00 %

ROCE18.3 %

ROE13.5 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Consumer Services

Buy

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.

Confidence

73%

View full sector analysis →

PROS

Company has delivered good profit growth of 22.6% CAGR over last 5 years
Company is almost debt free
Company has delivered good sales growth of 23.0% CAGR over last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.01x)
Company comfortably covers its interest (34.2x coverage)
Working capital cycle has improved - days down from 24 to 18

CONS

Stock is trading at 10.2x its book value
Though reporting repeated profits, the company pays out little dividend (0.0%)
Expensive relative to growth - PEG of 9.1
Growth is decelerating - 3Y profit CAGR (8.0%) trails the 5Y trend (22.6%)
Rich enterprise valuation - EV/EBITDA of 48.1x

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Consumer ServicesRetailingRetailing

Part ofNIFTY NEXT 50 NIFTYLARGEMIDCAP250 NIFTY CONSUMPTION NIFTY100 EQL WGT NIFTY TOTAL MKT

S.No.	Name
1.	DMART	3730.00	79.55	243287.75	0.00	860.44	11.34	18794.53	14.88	18.03	7.98
2.	TRENT	2821.30	83.17	150446.17	0.14	518.07	21.98	5754.71	17.84	36.73	19.45
3.	VMM	103.45	54.34	48464.35	0.00	258.77	25.57	3727.01	18.68	19.24	14.61
4.	METROBRAND	958.30	64.27	26122.56	0.63	95.26	-3.58	720.36	14.66	35.77	29.85
5.	ABLBL	84.28	58.45	10286.56	0.59	29.02	20.62	2045.74	11.15	27.34	15.06
6.	PNGJL	610.05	20.14	8980.09	0.00	105.33	51.91	2412.98	40.73	20.40	7.56
7.	MEDPLUS	670.65	38.28	8056.99	0.00	33.17	-21.67	1879.60	21.84	22.22	7.09
8.	AVL	622.05	57.80	8033.03	0.20	77.22	39.99	1192.68	26.85	20.82	10.44
9.	V2RETAIL	219.75	44.85	8012.91	0.00	41.85	69.70	997.20	57.73	38.43	13.99
10.	ETHOSLTD	2752.40	70.90	7364.79	0.00	28.66	50.71	461.71	33.32	13.70	12.97
11.	EMIL	182.55	34.07	7023.59	0.00	120.64	458.07	2418.95	39.07	11.84	9.88
12.	VMART	818.85	47.35	6516.03	0.12	47.21	40.51	1088.81	23.00	23.56	14.75

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	11,584	12,308	13,247	12,393	13,712	14,050	15,565	14,462	15,932	16,219	17,613	17,204	18,343
	10,548	11,306	12,126	11,453	12,491	12,945	14,330	13,481	14,619	14,989	16,132	15,973	17,129
Operating Profit	1,036	1,002	1,121	940	1,221	1,105	1,235	981	1,313	1,230	1,481	1,231	1,214
OPM %	8.95%	8.14%	8.46%	7.59%	8.90%	7.87%	7.94%	6.79%	8.24%	7.58%	8.41%	7.16%	6.62%
	47	46	44	52	52	46	36	39	34	33	30	31	38
Interest	11	12	11	11	13	13	15	16	27	32	34	38	51
Depreciation	141	151	163	178	171	185	204	216	210	228	241	256	262
Profit before Tax	932	885	991	804	1,089	953	1,053	789	1,111	1,003	1,236	968	1,252
Tax %	25.36%	25.57%	25.65%	24.83%	25.38%	25.48%	25.46%	21.41%	25.33%	25.55%	25.34%	25.15%	25.26%
Net Profit	695	659	737	604	812	710	785	620	830	747	923	725	936
	10.71	10.12	11.32	9.28	12.49	10.92	12.06	9.52	12.75	11.47	14.19	11.13	14.35

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	11,881	15,009	19,916	24,675	23,787	30,352	41,833	49,533	57,790	66,968	69,379
	10,918	13,672	18,274	22,553	22,045	27,851	38,174	45,434	53,247	61,713	64,223
Operating Profit	964	1,337	1,642	2,122	1,742	2,502	3,659	4,099	4,543	5,255	5,156
OPM %	8.11%	8.91%	8.25%	8.60%	7.32%	8.24%	8.75%	8.28%	7.86%	7.85%	7.43%
	31	73	51	63	209	141	163	189	174	128	132
Interest	122	59	47	63	34	40	48	44	58	130	154
Depreciation	126	155	199	340	371	421	543	633	776	935	987
Profit before Tax	747	1,196	1,448	1,783	1,545	2,182	3,231	3,611	3,883	4,318	4,459
Tax %	35.40%	34.39%	35.32%	24.29%	24.57%	25.92%	20.88%	25.38%	24.62%	25.35%	25.32%
Net Profit	483	785	936	1,350	1,165	1,616	2,556	2,695	2,927	3,224	3,330
EPS	8.55	12.41	14.79	21.33	17.86	24.75	39.22	41.41	44.98	49.45	—
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:: 26%
5 Years:: 23%
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:: 14%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	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
	3,212	3,996	4,931	10,462	11,626	13,239	15,811	18,597	21,517	24,789
	1,483	440	696	216	217	321	330	315	502	2,055
Trade Payables	267	316	458	446	566	531	701	953	1,004	1,273
	217	236	288	312	590	665	754	1,050	1,218	1,534
Total Liabilities	5,802	5,612	6,998	12,084	13,646	15,404	18,244	21,566	24,891	30,304
	2,522	3,240	4,216	5,719	6,629	8,733	10,758	12,934	15,720	19,569
Capital Work in Progress	153	147	377	362	1,006	1,073	829	930	1,091	1,284
	37	181	212	287	402	532	977	1,071	1,255	1,607
	933	1,147	1,576	1,909	2,167	2,587	3,056	3,723	4,805	5,630
	0	0	0	0	0	0	0	393	349	357
Cash & Bank	1,881	556	214	92	1,432	284	1,373	560	331	266
	277	341	403	3,714	2,009	2,195	1,251	1,955	1,340	1,591
Total Assets	5,802	5,612	6,998	12,084	13,646	15,404	18,244	21,566	24,891	30,304

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	703	1,119	1,346	1,769	1,642	1,868	3,378	2,743	2,597	3,612
Cash from Investing	-2,475	432	-998	-4,700	-1,155	-1,292	-2,442	-2,584	-2,322	-4,425
Cash from Financing	2,024	-1,122	201	3,384	-140	-121	-132	-87	-204	350
	-2	34	56	-29	90	-98	103	72	71	-462

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.65	74.65	74.65	74.65	74.65	74.65	74.65	74.51	74.48
	9.22	9.95	8.96	8.18	8.25	8.73	8.71	9.00	9.22
	7.95	7.43	8.07	9.08	9.22	9.02	8.83	8.79	8.67
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	8.10	7.91	8.25	8.03	7.80	7.52	7.75	7.64	7.55

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-08

General Updates

2026-09-08 - Avenue Supermarts Limited has informed the Exchange about allotment of Commercial Paper of Rs. 300 crores

2026-09-08

Trading Window

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

Updates

2026-09-07 - Avenue Supermarts Limited has informed the Exchange regarding 'Repayment of Commercial Paper'.

2026-09-07

Updates

2026-09-07 - Avenue Supermarts Limited has informed the Exchange regarding 'Store Opening '.

2026-09-01

Options to purchase securities

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

Credit Rating- New

2026-08-31 - Avenue Supermarts Limited has informed the Exchange about Credit Rating by Crisil Ratings Limited for Non-Convertible Debentures

2026-08-27

General Updates

2026-08-27 - Avenue Supermarts Limited has informed the Exchange about ESG Rating by SES ESG Research Pvt. Ltd.

2026-08-26

Action(s) taken or orders passed

2026-08-26 - Avenue Supermarts Limited has informed the Exchange about Action(s) taken or orders passed

2026-08-24

Credit Rating- New

2026-08-24 - Avenue Supermarts Limited has informed the Exchange about Credit Rating by ICRA Limited for Non-Convertible Debentures

News

Recent coverage and analyst commentary for DMART

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Avenue Supermarts Ltd.

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Name

DMART

3730.00

79.55

243287.75

0.00

860.44

11.34

18794.53

14.88

18.03

7.98

TRENT

2821.30

83.17

150446.17

0.14

518.07

21.98

5754.71

17.84

36.73

19.45

VMM

103.45

54.34

48464.35

0.00

258.77

25.57

3727.01

18.68

19.24

14.61

METROBRAND

958.30

64.27

26122.56

0.63

95.26

-3.58

720.36

14.66

35.77

29.85

ABLBL

84.28

58.45

10286.56

0.59

29.02

20.62

2045.74

11.15

27.34

15.06

PNGJL

610.05

20.14

8980.09

0.00

105.33

51.91

2412.98

40.73

20.40

7.56

MEDPLUS

670.65

38.28

8056.99

0.00

33.17

-21.67

1879.60

21.84

22.22

7.09

AVL

622.05

57.80

8033.03

0.20

77.22

39.99

1192.68

26.85

20.82

10.44

V2RETAIL

219.75

44.85

8012.91

0.00

41.85

69.70

997.20

57.73

38.43

13.99

ETHOSLTD

2752.40

70.90

7364.79

0.00

28.66

50.71

461.71

33.32

13.70

12.97

EMIL

182.55

34.07

7023.59

0.00

120.64

458.07

2418.95

39.07

11.84

9.88

VMART

818.85

47.35

6516.03

0.12

47.21

40.51

1088.81

23.00

23.56

14.75

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

11,584

12,308

13,247

12,393

13,712

14,050

15,565

14,462

15,932

16,219

17,613

17,204

18,343

10,548

11,306

12,126

11,453

12,491

12,945

14,330

13,481

14,619

14,989

16,132

15,973

17,129

Operating Profit

1,036

1,002

1,121

940

1,221

1,105

1,235

981

1,313

1,230

1,481

1,231

1,214

OPM %

8.95%

8.14%

8.46%

7.59%

8.90%

7.87%

7.94%

6.79%

8.24%

7.58%

8.41%

7.16%

6.62%

Interest

Depreciation

141

151

163

178

171

185

204

216

210

228

241

256

262

Profit before Tax

932

885

991

804

1,089

953

1,053

789

1,111

1,003

1,236

968

1,252

Tax %

25.36%

25.57%

25.65%

24.83%

25.38%

25.48%

25.46%

21.41%

25.33%

25.55%

25.34%

25.15%

25.26%

Net Profit

695

659

737

604

812

710

785

620

830

747

923

725

936

10.71

10.12

11.32

9.28

12.49

10.92

12.06

9.52

12.75

11.47

14.19

11.13

14.35

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

11,881

15,009

19,916

24,675

23,787

30,352

41,833

49,533

57,790

66,968

69,379

10,918

13,672

18,274

22,553

22,045

27,851

38,174

45,434

53,247

61,713

64,223

Operating Profit

964

1,337

1,642

2,122

1,742

2,502

3,659

4,099

4,543

5,255

5,156

OPM %

8.11%

8.91%

8.25%

8.60%

7.32%

8.24%

8.75%

8.28%

7.86%

7.85%

7.43%

209

141

163

189

174

128

132

Interest

122

130

154

Depreciation

126

155

199

340

371

421

543

633

776

935

987

Profit before Tax

747

1,196

1,448

1,783

1,545

2,182

3,231

3,611

3,883

4,318

4,459

Tax %

35.40%

34.39%

35.32%

24.29%

24.57%

25.92%

20.88%

25.38%

24.62%

25.35%

25.32%

Net Profit

483

785

936

1,350

1,165

1,616

2,556

2,695

2,927

3,224

3,330

EPS

8.55

12.41

14.79

21.33

17.86

24.75

39.22

41.41

44.98

49.45

—

Dividend Payout %

0.00%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

624

648

651

652

3,212

3,996

4,931

10,462

11,626

13,239

15,811

18,597

21,517

24,789

1,483

440

696

216

217

321

330

315

502

2,055

Trade Payables

267

316

458

446

566

531

701

953

1,004

1,273

217

236

288

312

590

665

754

1,050

1,218

1,534

Total Liabilities

5,802

5,612

6,998

12,084

13,646

15,404

18,244

21,566

24,891

30,304

2,522

3,240

4,216

5,719

6,629

8,733

10,758

12,934

15,720

19,569

Capital Work in Progress

153

147

377

362

1,006

1,073

829

930

1,091

1,284

181

212

287

402

532

977

1,071

1,255

1,607

933

1,147

1,576

1,909

2,167

2,587

3,056

3,723

4,805

5,630

393

349

357

Cash & Bank

1,881

556

214

1,432

284

1,373

560

331

266

277

341

403

3,714

2,009

2,195

1,251

1,955

1,340

1,591

Total Assets

5,802

5,612

6,998

12,084

13,646

15,404

18,244

21,566

24,891

30,304

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

703

1,119

1,346

1,769

1,642

1,868

3,378

2,743

2,597

3,612

Cash from Investing

-2,475

432

-998

-4,700

-1,155

-1,292

-2,442

-2,584

-2,322

-4,425

Cash from Financing

2,024

-1,122

201

3,384

-140

-121

-132

-87

-204

350

-2

-29

-98

103

-462

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

74.65

74.51

74.48

9.22

9.95

8.96

8.18

8.25

8.73

8.71

9.00

9.22

7.95

7.43

8.07

9.08

9.22

9.02

8.83

8.79

8.67

Government

0.00

8.10

7.91

8.25

8.03

7.80

7.52

7.75

7.64

7.55

Avenue Supermarts Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Avenue Supermarts Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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