Avenue Supermarts (DMART) Q2 25/26 earnings summary

Executive summary

• Achieved continued growth in store count, reaching 432 stores in H1 FY26, up from 415 in FY24 and 377 in H1 FY25.

• Approved unaudited standalone and consolidated financial statements for the quarter and half year ended 30th September 2025.

• Maintained a cluster-based expansion strategy, increasing presence in key states and large towns.

• Auditor's review found no material misstatements in both standalone and consolidated results.

Financial highlights

• Revenue from operations for H1 FY26 was ₹32,151 crore, up from ₹27,762 crore in H1 FY25 and ₹49,533 crore in FY23.

• Standalone revenue from operations for Q2 FY26: ₹16,218.79 crore, up from ₹14,050.32 crore in Q2 FY25.

• EBITDA for H1 FY26 stood at ₹2,543 crore with a margin of 7.9%, compared to ₹2,326 crore and 8.4% in H1 FY25.

• PAT for H1 FY26 was ₹1,523 crore with a margin of 4.9%, compared to ₹1,616 crore and 5.8% in H1 FY25.

• Six-month standalone net profit: ₹1,576.28 crore, up from ₹1,522.82 crore year-over-year.

Outlook and guidance

• Like-for-like growth (stores >24 months) was 6.8% in Q2 FY26, showing a slight decline from 8.3% in Q2 FY25.

• Continued focus on expanding in large towns and increasing retail business area, which reached 17.9 million sq ft at Q2 FY26 end.

• No explicit forward-looking guidance provided; continued focus on retail trade expansion.