Avenue Supermarts (DMART) Q2 24/25 earnings summary

Executive summary

• Achieved revenue from operations of ₹27,762 Cr in H1 FY25, up from ₹23,892 Cr in H1 FY24, reflecting strong growth year-over-year.

• PAT for H1 FY25 stood at ₹1,523 Cr, compared to ₹1,354 Cr in H1 FY24, with PAT margin stable at 5.5%.

• Board approved unaudited standalone and consolidated financial statements for the quarter and half year ended 30th September 2024.

• Financials reviewed by statutory auditors with no material misstatements identified.

• Continued cluster-based expansion, reaching 377 stores in H1 FY25, up from 336 in H1 FY24.

Financial highlights

• EBITDA for H1 FY25 was ₹2,038 Cr with an EBITDA margin of 7.3%, compared to ₹2,326 Cr and 8.7% in H1 FY24.

• Standalone revenue from operations for Q2 FY25: ₹14,050.32 crore, up from ₹12,307.72 crore in Q2 FY24.

• Standalone net profit for Q2 FY25: ₹710.37 crore, up from ₹658.54 crore in Q2 FY24.

• Consolidated revenue from operations for Q2 FY25: ₹14,444.50 crore, up from ₹12,624.37 crore in Q2 FY24.

• Consolidated net profit for Q2 FY25: ₹659.44 crore, up from ₹623.35 crore in Q2 FY24.

Outlook and guidance

• Maintains focus on cluster-based expansion and gradual rollout of DMart Ready in large towns.

• Emphasis on operational efficiency and maintaining healthy margins amid expansion.

• Management considers GST demand orders as contingent liabilities, expecting favorable outcomes based on expert advice.