Avenue Supermarts (DMART) Q4 25/26 earnings summary

Executive summary

• Achieved significant expansion, reaching 500 stores in FY25 and 585 stores in FY26, focusing on cluster-based growth across multiple states.

• DMart Ready expanded from 1 city in FY17 to 25 cities in FY25 and 18 cities in FY26, targeting key large towns.

• Standalone and consolidated audited financial statements for the quarter and year ended 31st March 2026 were approved, with auditors issuing an unmodified opinion.

• Board approved several senior management changes, including new roles for Mr. Rohit Mundhra, Mr. Ravi Sharma, and Mr. Hitesh Shah, and noted the completion of Mr. Chandrashekhar Bhave’s tenure as Independent Director.

Financial highlights

• Standalone revenue from operations for FY26 was ₹66,968.03 crore, up from ₹57,789.81 crore in FY25; net profit after tax for FY26 was ₹3,223.93 crore, compared to ₹2,927.18 crore in FY25.

• Consolidated revenue from operations for FY26 was ₹68,820.74 crore, up from ₹59,358.05 crore in FY25; consolidated net profit after tax for FY26 was ₹2,969.86 crore, compared to ₹2,707.45 crore in FY25.

• EBITDA increased from ₹2,502 Cr in FY22 to ₹4,543 Cr in FY26, with margins ranging from 7.8% to 8.7%.

• Revenue per retail business area sq ft was ₹33,896 in FY23, declining to ₹27,454 in FY26.

• Standalone EPS for FY26 was ₹49.54, up from ₹44.98 in FY25; consolidated EPS for FY26 was ₹45.65, up from ₹41.61 in FY25.

Outlook and guidance

• Continued focus on expanding store footprint and increasing presence in key cities.

• Emphasis on cluster-based expansion and targeting large urban centers for DMart Ready.

• The company is monitoring the impact of new labour codes effective from November 2025 and will evaluate any necessary changes once supporting rules are notified.