Quarterly Financial Results
Avenue Supermarts (DMart) Q1 FY27 Results: Revenue Rises 15.1% to ₹18,343 Crore; PAT Grows 12.8%
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Avenue Supermarts Limited (DMart) reported healthy growth for the quarter ended 30 June 2026, with standalone revenue increasing 15.1% YoY to ₹18,343 crore and net profit rising 12.8% YoY to ₹936 crore. The company expanded its retail footprint by adding three new stores, taking the total store count to 503, while management highlighted slower growth in mature metro stores and continued momentum in non-metro markets.
PRICE-SENSITIVE TRIGGER
Event: Announcement of Q1 FY27 standalone and consolidated financial results.
Type: Quarterly Financial Results
Impact: Positive
Immediate Effect:
- Double-digit growth in revenue, EBITDA and PAT.
- Continued physical store expansion.
- Stable operating margins despite a challenging consumption environment.
- Mixed demand trends across metro and non-metro markets.
Standalone Financial Performance (Q1 FY27):
Revenue from Operations:
- Revenue: ₹18,343 crore
- Q1 FY26: ₹15,932 crore
- YoY Growth: 15.1%
EBITDA:
- EBITDA: ₹1,527 crore
- Q1 FY26: ₹1,313 crore
- YoY Growth: 16.3%
EBITDA Margin:
- Q1 FY27: 8.3%
- Q1 FY26: 8.2%
- Movement: +10 bps
Profit After Tax (PAT):
- PAT: ₹936 crore
- Q1 FY26: ₹830 crore
- YoY Growth: 12.8%
PAT Margin:
- Q1 FY27: 5.1%
- Q1 FY26: 5.2%
- Movement: -10 bps
Basic EPS:
- Q1 FY27: ₹14.35
- Q1 FY26: ₹12.75
Consolidated Financial Performance (Q1 FY27):
Revenue from Operations:
- Revenue: ₹18,795 crore
- Q1 FY26: ₹16,360 crore
- YoY Growth: 14.9%
EBITDA:
- EBITDA: ₹1,499 crore
- Q1 FY26: ₹1,299 crore
- YoY Growth: 15.4%
EBITDA Margin:
- Q1 FY27: 8.0%
- Q1 FY26: 7.9%
Net Profit:
- PAT: ₹860 crore
- Q1 FY26: ₹773 crore
- YoY Growth: 11.3%
PAT Margin:
- Q1 FY27: 4.6%
- Q1 FY26: 4.7%
Basic EPS:
- Q1 FY27: ₹13.20
- Q1 FY26: ₹11.88
What Happened ?
Avenue Supermarts reported another quarter of double-digit revenue growth, supported by continued expansion of its DMart retail network and steady customer demand.
During the quarter, the company:
- Added 3 new DMart stores.
- Increased the total operational store count to 503.
- Maintained stable EBITDA margins despite moderating growth in mature stores.
- Continued expanding primarily through its brick-and-mortar retail business.
Management also provided updates on DMart Ready (e-commerce), announcing the discontinuation of operations in seven low-contribution cities while sharpening its focus on major metropolitan markets.
key details
Brick-and-Mortar Business:
- Revenue increased 15.1% YoY.
- PAT grew 12.8% YoY.
- Older stores (operating for more than two years) recorded 5.5% growth, compared with 7.1% in Q1 FY26.
- Mature stores in large metro cities witnessed largely flat growth.
- Non-metro stores continued to perform well.
The performance indicates that consumption growth remains stronger in emerging markets than in mature metropolitan locations.
Store Expansion:
DMart continued its disciplined expansion strategy during the quarter.
- New stores added: 3
- Total stores: 503
- Retail business area: Approximately 20.7 million sq. ft.
The company now operates across multiple states including Maharashtra, Gujarat, Telangana, Andhra Pradesh, Karnataka, Tamil Nadu, Madhya Pradesh, Rajasthan, Punjab, NCR, Chhattisgarh, Uttar Pradesh, Odisha, Haryana, Uttarakhand, Goa and Daman.
E-Commerce (DMart Ready):
Management stated that DMart Ready continues to focus on strengthening its operating model in major metro cities.
- Operations discontinued in 7 cities that were marginal contributors.
- Operations continue in 11 cities as of 30 June 2026.
- Strategy remains focused on improving efficiency rather than aggressive geographic expansion.
Risk Analysis
Summary:
- While financial performance remained healthy, management highlighted moderation in same-store sales growth, particularly in mature metro locations.
Key Risks:
- Slower same-store sales growth in older stores.
- Flat growth across mature metropolitan markets.
- E-commerce network rationalisation may temporarily limit geographic reach.
- Consumer demand recovery in urban markets remains uneven.
Risk Level: Medium
Company Commentary
Managing Director & CEO, Anshul Asawa
Management stated that:
- Revenue grew 15.1% YoY.
- PAT increased 12.8% YoY.
- Older stores grew 5.5%, compared with 7.1% in the corresponding quarter last year.
- Metro stores experienced flat growth, while non-metro locations continued to perform well.
- Three new stores were opened during the quarter.
CEO, Avenue E-Commerce Limited (DMart Ready), Vikram Dasu
Management said the company continues to deepen its focus on large metro cities while improving its operating model, and exited seven low-contribution cities during the quarter to improve operational efficiency.
Official Exchange Filing: Avenue Supermarts Limited
