Avenue Supermarts Limited (NSE:DMART) filed the transcript of its Annual Analyst Meet conference call, held on 28 July 2026, with exchanges on 4 August 2026. Management disclosed FY2026 turnover of close to Rs 67,000 crore, a PAT of Rs 3,224 crore, and a 500-store milestone, while outlining priorities for expansion, technology, and e-commerce.
Key Highlights
- Avenue Supermarts reported FY2026 standalone turnover of close to Rs 67,000 crore, with an EBITDA margin of approximately 7.8% and PAT of Rs 3,224 crore (4.8% margin).
- The company crossed the 500-store milestone, having opened 85 stores in FY2026, and stated an internal benchmark of growing its store base by approximately 15% annually.
- DMart Ready, the e-commerce arm under Avenue E-Commerce Limited, reported a net loss of Rs 307 crore in FY2026 and is being concentrated on 11 key cities.
- Like-for-like sales growth for stores older than two years stood at 8.1% for FY2026, with retail business area reaching 20.6 million square feet as of March 2026.
About the Company
Avenue Supermarts Limited, listed on NSE under the ticker DMART (BSE scrip code: 540376) and headquartered in Mumbai, operates the DMart chain of hypermarkets across India. The company sells food, non-food grocery, general merchandise, and apparel through owned stores and also runs DMart Ready, an online grocery platform, via its subsidiary Avenue E-Commerce Limited.
Announcement in Detail
At the Annual Analyst Meet on 28 July 2026, Managing Director and CEO Anshul Asawa outlined three strategic priorities: store expansion targeting approximately 15% annual growth in store count, technology and data system upgrades, and building management bandwidth. The company entered five new states in FY2026 and stated its pipeline for new stores remains strong. Where strategically appropriate, long-term leasing will supplement the company's traditional owned-store model.
CFO Niladri Deb presented key financials: revenue per square foot came in at Rs 33,422, cash from operations was Rs 4,168 crore, and net borrowings stood at approximately Rs 965 crore as of March 2026 (total reported debt of Rs 2,267 crore includes an Ind AS 116 lease liability adjustment). Return on net worth was 13.5% and ROCE was 17.1%, both modestly lower than the prior year. At the consolidated level, sales and EBITDA each grew approximately 16%, while consolidated PAT grew approximately 10%.
Impact on Investors
Investors will note that Avenue E-Commerce Limited (DMart Ready) posted a net loss of Rs 307 crore in FY2026, with EBITDA declining approximately 43% year on year. The filing shows management has consciously narrowed the e-commerce focus to 11 cities rather than expanding geographically, which the disclosed strategy indicates is intended to achieve sustainable unit economics before scaling further.
Shareholders will observe that standalone PAT margin and PBT both declined by approximately 25-26 basis points, primarily attributed to a 27-basis-point increase in employee costs. The disclosed net borrowing level of Rs 965 crore and ROCE of 17.1% provide context on the company's capital efficiency for the period under review.
Sector / Market Context
India's organised retail sector continues to expand its share of total consumption expenditure, with the Department for Promotion of Industry and Internal Trade recognising retail as a priority area under FDI policy. Competition from both quick-commerce platforms and large-format peers has intensified in metro markets, a backdrop that contextualises DMart's disclosed focus on operational execution and metro-city e-commerce profitability.