Arthneeti

Avenue Supermarts Q2 FY27 Share Price & Earnings Call Analysis

₹3,175.00+1.31% today
Market cap
₹2.07L Cr
P/E
66.46
ROE
12.94%
PEG
8.60
Price to sales
2.79
Debt to equity
0.16
52W high / low
₹4,628 / ₹3,134
Sales growth (5Y)
23.31%
EBITDA margin
7.50%
Net profit margin
4.31%
Promoter holding
74.48%
Sales (last year)
₹74,223 Cr

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]

Guidance scorecard · Q2 FY27 call

What Avenue Super.'s management guided
and where it ranks in Retailing

#19of 29 in
Retailing
Revenue10–20%MarginsFlatCapexPlannedFundraisingPlannedOrder bookWhat management said

RevenueQ1 FY27 call

10–20%
  • Avenue Supermarts targets a store expansion rate of around 15% annually based on its current base, aiming for steady growth.
  • The company expects to continue entering new states and building store density in both new and established markets.
  • Sales growth in recent years has been around 16%, reflecting robust expansion efforts.
  • Like-for-like (LFL) store growth for stores older than two years was about 8.1% in the last year.
  • Revenue per square foot remains stable, indicating efficient utilization of retail space.
  • Online (DMart Ready) operations aim for sustainable profitability while focusing on assortment, delivery speed (within 6 hours), and user experience in 11 key cities.
  • The business plans to improve order density, throughput, and overall productivity for growth.

2 more points from Avenue Super.'s call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what Avenue Super. said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • Avenue Supermarts is planning continued capital expenditure primarily to fund store expansion and build its network, with a capex of over INR 4,000 crores in the past year.
  • The company has approved INR 1,000 crores in Non-Convertible Debentures (NCDs) to manage and reduce the cost of debt and to support longer-term borrowing for capex stability.
  • Expansion plans target around 15% annual store growth, roughly 75 stores per year, with flexibility for some leasing along with owned stores, addressing real estate bottlenecks.

2 more points from Avenue Super.'s call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

Planned

See what Avenue Super. said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

  • The company is focused on expanding its store base, targeting a 15% year-on-year increase in store openings (around 75 stores annually from a base of ~500 stores).
  • Real estate acquisition and construction timelines affect store openings; some stores are leased to accelerate growth.
  • E-commerce (DMart Ready) is being scaled sustainably in 11 cities, targeting profitable delivery under six hours.
  • The company is confident in maintaining expansion plans with a strong pipeline of store openings and readiness to consider leasing.
Full Q1 FY27 analysis
Full Retailing ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Retailing
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Entero Healthcare Solutions LtdGood growth
    3
See all potential multibaggersWhere does Avenue Super. rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Retailing companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Flat₹6,264 Cr38.2
240%+Flat₹6,053 Cr53.9
3Entero Healthcare Solutions Ltd20–40%Up 0–2%₹6,899 Cr53.5
420–40%Up 0–2%₹790 Cr19.0
520–40%Flat₹3.14L Cr725.0
620–40%Flat₹1.12L Cr170.8

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Pro shows every company guiding 40%+ revenue growth →Full Retailing ranking

Financials of Avenue Super.

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Avenue Super.

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +10,59411,86512,62413,57212,72714,06914,44415,97314,87216,36016,67618,10117,684
Expenses +9,82310,83011,61912,45311,78312,84813,35114,75513,91715,06115,46316,63816,473
Operating Profit7721,0351,0051,1209441,2211,0941,2179551,2991,2141,4631,211
OPM %7%9%8%8%7%9%8%8%6%8%7%8%7%
Other Income +33393733384234242519201718
Interest16151615131616181929353741
Depreciation164162174189205193208228241232253268284
Profit before tax6258978529497631,0549039957201,0579451,175904
Tax %26%27%27%27%26%27%27%27%24%27%28%27%27%
Net Profit +460659623690563774659724551773685856656
EPS in Rs7.1010.129.5810.618.6611.8910.1411.128.4711.8810.5313.1510.07

Financials of Avenue Super.

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +6,4398,58411,89815,03320,00524,87024,14330,97642,84050,78959,35868,821
Expenses +5,9837,91910,92913,68018,37122,74222,39828,47439,20146,68354,86463,634
Operating Profit4566649691,3531,6332,1281,7452,5023,6394,1064,4955,187
OPM %7%8%8%9%8%9%7%8%8%8%8%8%
Other Income +20172888486019411412814511774
Interest72911226047694254675869142
Depreciation82981281592123744144986397318701,037
Profit before tax3234927471,2221,4221,7451,4832,0643,0603,4613,6734,082
Tax %34%35%36%34%37%25%26%28%22%27%26%27%
Net Profit +2123204798069021,3011,0991,4922,3782,5362,7072,970
EPS in Rs3.775.707.6712.9214.4620.0916.9723.0436.6938.9741.6145.56
Dividend Payout %0%0%0%0%0%0%0%0%0%0%0%0%

Financials of Avenue Super.

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital562562624624624648648648648651651652
Reserves6389593,2184,0454,96310,43211,53613,03015,43018,04720,77723,812
Borrowings +9041,1921,4974397003333936476435928202,425
Other Liabilities +2513894805407186631,0791,1461,3831,8822,0652,635
Total Liabilities2,3553,1025,8195,6487,00612,07613,65515,47118,10521,17224,31329,524
Fixed Assets +1,5282,0942,5783,4004,4005,9487,0099,26011,34013,41516,20620,090
CWIP98821531473773641,0201,1298299351,0991,300
Investments1529266817153620210734
Other Assets +7138973,0632,0332,2125,7495,6245,0765,7336,7167,0048,130
Total Assets2,3553,1025,8195,6487,00612,07613,65515,47118,10521,17224,31329,524

Financials of Avenue Super.

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +2224334557308071,2801,3751,3722,6302,7462,4633,467
Cash from Investing Activity +-474-633-2,482464-958-4,657-1,110-1,289-2,313-2,468-2,185-4,207
Cash from Financing Activity +2341962,025-1,1592093,357-180-179-205-148-259288
Net Cash Flow-17-3-13457-1986-9611213018-452
Free Cash Flow-255435-180-179-602-426-652-1,01742424-954-646
CFO/OP71%90%74%84%80%83%94%77%92%85%76%87%

Financials of Avenue Super.

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days001110111111
Inventory Days363434343534403833333637
Days Payable810991081088888
Cash Conversion Cycle282426252626303126263029
Working Capital Days2264161122232320252318
ROCE %21%24%21%24%26%20%13%16%20%19%18%17%

Guidance history

How Avenue Super.'s guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →10–20%FlatPlannedPlanned—
Q1 FY26 call →10–20%Down 0–2%Planned—Rising
Q1 FY25 call →0–10%FlatPlanned—Rising

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

9out of 100

Momentum score · price trend

9 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−25.8%29%
Last 6 months−31.8%7%
Last 3 months−18.6%22%

The price is 41.1% below its all-time high of ₹5,323.75 (14 Oct 2021). Stocks more than 20% below their peak have their score halved, so 19 became 9.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Avenue Super.: 0.4 × 29 + 0.4 × 7 + 0.2 × 22 = 19, halved to 9 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 28 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

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What Avenue Super.'s management said in earlier quarters

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