Avenue Supermarts (DMART) Q4 24/25 earnings summary

Executive summary

• Achieved steady revenue growth and store expansion in FY25, reaching 415 stores across India.

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

• Board approved audited standalone and consolidated financial statements for the year ended 31 March 2025.

• Statutory auditors issued unmodified opinions on both standalone and consolidated results.

• Continued focus on core product categories: Foods, Non-Foods (FMCG), and General Merchandise & Apparel.

Financial highlights

• Standalone revenue from operations rose to INR 57,790 Cr in FY25, up from INR 49,533 Cr in FY24.

• Standalone EBITDA reached INR 4,543 Cr in FY25, with an EBITDA margin of 7.9%.

• Standalone PAT for FY25 was INR 2,927 Cr, with a PAT margin of 5.1%.

• Consolidated revenue from operations for FY25 was INR 59,358 Cr, up from INR 50,789 Cr in FY24.

• Revenue per retail business area sq ft increased to INR 33,896 in FY25.

Outlook and guidance

• Ongoing expansion into new cities and states, with a focus on gradual growth in large towns.

• Emphasis on like-for-like growth and operational efficiency to drive future performance.

• Management considers GST demands of INR 18.76 Cr (standalone) and INR 18.79 Cr (consolidated) as contingent liabilities, with appeals to be filed.

• No provisions made for these tax demands, supported by external expert advice.