On consolidated basis
Quarter ended September 2025 compared with Quarter ended September
2024.
Net sales (including other operating income) of Avenue Supermarts has increased
15.45% to Rs 16676.3 crore.
Operating profit margin
has declined from 7.57% to 7.28%, leading to 10.96% rise in operating profit to
Rs 1,213.65 crore. Purchase of finished goods cost fell from 86.01%
to 85.58%. Employee cost increased from 1.85% to 2.16%. Other
expenses rose from 5.04% to 5.29%.
Other income fell 41.62%
to Rs 19.57 crore. PBIDT rose 9.40% to Rs 1233.22
crore. Provision for interest rose 114.22% to Rs 34.96
crore. Loan funds rose to Rs 1,609.19 crore as of 30 September 2025
from Rs 712.91 crore as of 30 September 2024. Inventories rose to Rs
5,677.34 crore as of 30 September 2025 from Rs 4,979.21 crore as of 30
September 2024. Sundry debtors were higher at Rs 113.48 crore as of
30 September 2025 compared to Rs 102.37 crore as of 30 September
2024. Cash and bank balance declined from Rs 305.00 crore as of 30
September 2024 to Rs 209.85 crore as of 30 September
2025. Investments declined from Rs 86.55 crore as of 30 September
2024 to Rs 2.51 crore as of 30 September 2025.
PBDT rose 7.86% to Rs
1198.26 crore. Provision for depreciation rose 21.99% to Rs 253.47
crore. Fixed assets increased to Rs 19,063.34 crore as of 30
September 2025 from Rs 15,541.55 crore as of 30 September
2024. Intangible assets increased from Rs 107.65 crore to Rs 113.38
crore.
Profit before tax grew
4.61% to Rs 944.79 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 259.94 crore, compared
to Rs 243.75 crore. Effective tax rate was 27.51% compared to 26.99%.
Minority interest
decreased 14.29% to Rs -0.16 crore. Net profit attributable to
owners of the company increased 3.86% to Rs 685.01 crore.
Equity capital stood at
Rs 650.73 crore as of 30 September 2025 to Rs 650.73 crore as of 30 September
2024. Per share face Value remained same at Rs 10.00.
Promoters’ stake was
74.65% as of 30 September 2025 ,compared to 74.65% as of 30 September 2024
.
Year-to-date (YTD)
results analysis.
Net sales (including other operating income) of Avenue Supermarts has increased
15.86% to Rs 33036 crore.
Operating profit margin
has declined from 8.12% to 7.61%, leading to 8.54% rise in operating profit to
Rs 2,512.69 crore. Purchase of finished goods cost fell from 85.29%
to 85.10%. Employee cost increased from 1.87% to 2.15%. Other
expenses rose from 5.01% to 5.29%.
Other income fell 48.08%
to Rs 39 crore. PBIDT rose 6.76% to Rs 2551.69
crore. Provision for interest rose 99.07% to Rs 64.26
crore. Loan funds rose to Rs 1,609.19 crore as of 30 September 2025
from Rs 712.91 crore as of 30 September 2024. Inventories rose to Rs
5,677.34 crore as of 30 September 2025 from Rs 4,979.21 crore as of 30
September 2024. Sundry debtors were higher at Rs 113.48 crore as of
30 September 2025 compared to Rs 102.37 crore as of 30 September
2024. Cash and bank balance declined from Rs 305.00 crore as of 30
September 2024 to Rs 209.85 crore as of 30 September
2025. Investments declined from Rs 86.55 crore as of 30 September
2024 to Rs 2.51 crore as of 30 September 2025.
PBDT rose 5.50% to Rs
2487.43 crore. Provision for depreciation rose 21.13% to Rs 485.17
crore. Fixed assets increased to Rs 19,063.34 crore as of 30
September 2025 from Rs 15,541.55 crore as of 30 September
2024. Intangible assets increased from Rs 107.65 crore to Rs 113.38
crore.
Profit before tax grew
2.30% to Rs 2,002.26 crore. Share of profit/loss were nil in both
the periods. Provision for tax was expense of Rs 544.6 crore,
compared to Rs 524.2 crore. Effective tax rate was 27.20% compared
to 26.78%.
Minority interest decreased
14.29% to Rs -0.32 crore. Net profit attributable to owners of the
company increased 1.71% to Rs 1,457.98 crore.
Equity capital stood at
Rs 650.73 crore as of 30 September 2025 to Rs 650.73 crore as of 30 September
2024. Per share face Value remained same at Rs 10.00.
Promoters’ stake was
74.65% as of 30 September 2025 ,compared to 74.65% as of 30 September 2024
.
Cash flow from operating
activities increased to Rs 1,398.17 crore for YTD ended September 2025 from Rs
1,035.12 crore for YTD ended September 2024. Cash flow used in
acquiring fixed assets during the YTD ended September 2025 stood at Rs 1,752.66
crore, compared to Rs 1,595.76 crore during the YTD ended September
2024.
Full year results analysis.
Net sales (including other operating income) of Avenue Supermarts has increased
16.87% to Rs 59358.05 crore.
Operating profit margin
has declined from 8.08% to 7.56%, leading to 9.35% rise in operating profit to
Rs 4,487.33 crore. Purchase of finished goods cost rose from 85.40%
to 85.44%. Employee cost increased from 1.76% to 1.93%.
Other expenses rose from 4.87% to 5.21%.
Other income fell 15.12%
to Rs 124.31 crore. PBIDT rose 8.50% to Rs 4611.64
crore. Provision for interest rose 19.47% to Rs 69.45
crore. Loan funds rose to Rs 819.62 crore as of 31 March 2025 from
Rs 592.16 crore as of 31 March 2024. Inventories rose to Rs 5,044.37
crore as of 31 March 2025 from Rs 3,927.31 crore as of 31 March
2024. Sundry debtors were lower at Rs 153.79 crore as of 31 March
2025 compared to Rs 166.37 crore as of 31 March 2024. Cash and bank
balance declined from Rs 638.18 crore as of 31 March 2024 to Rs 358.20 crore as
of 31 March 2025. Investments declined from Rs 106.67 crore as of 31
March 2024 to Rs 3.26 crore as of 31 March 2025.
PBDT rose 8.35% to Rs
4542.19 crore. Provision for depreciation rose 18.99% to Rs 869.52
crore. Fixed assets increased to Rs 17,198.56 crore as of 31 March
2025 from Rs 14,271.95 crore as of 31 March 2024. Intangible assets
increased from Rs 78.27 crore to Rs 107.25 crore.
Profit before tax grew
6.11% to Rs 3,672.67 crore. Share of profit/loss were nil in both
the periods. Provision for tax was expense of Rs 965.22 crore,
compared to Rs 925.72 crore. Effective tax rate was 26.28% compared
to 26.74%.
Minority interest
decreased 1.79% to Rs -0.57 crore. Net profit attributable to owners
of the company increased 6.78% to Rs 2,708.02 crore.
Equity capital stood at
Rs 650.73 crore as of 31 March 2025 to Rs 650.73 crore as of 31 March
2024. Per share face Value remained same at Rs 10.00.
Promoters’ stake was
74.65% as of 31 March 2025 ,compared to 74.65% as of 31 March 2024
.
Cash flow from operating
activities decreased to Rs 2,462.97 crore for year ended March 2025 from Rs
2,745.84 crore for year ended March 2024. Cash flow used in
acquiring fixed assets during the year ended March 2025 stood at Rs 3,423.04
crore, compared to Rs 2,731.25 crore during the year ended March
2024.
Operational highlights:
As of Sep 30,
2025, the Company had 432 operating stores with Retail Business Area of 17.9
million sq. ft across Maharashtra, Gujarat, Telangana, Andhra Pradesh,
Karnataka, Tamil Nadu, Madhya Pradesh, Rajasthan, Punjab, NCR, Chhattisgarh and
Daman.
Management Commentary:
D-Mart follows Everyday low cost -
Everyday low price (EDLC-EDLP) strategy which aims at procuring goods at
competitive price, using operational and distribution efficiency and thereby
delivering value for money to customers by selling at competitive prices.
Mr. Anshul Asawa, CEO-Designate, Avenue Supermarts Limited who has during
the quarter taken charge of all operational aspects of the DMart Retail Store
(brick & mortar) business commented: “Our revenue in Q2 FY26 grew by 15.4%
over the previous year. Profit after tax (PAT) grew by 5.1% over the previous
year. Two years and older DMart stores grew by 6.8% during Q2 FY26 as compared
to Q2 FY25.
Following the government’s recent announcement on GST reforms, we
passed on the benefit of reduced GST rates to all our customers, wherever
applicable.
We opened 8 new stores during the quarter. Our total stores stand at
432 as on September 30, 2025.”
Mr. Vikram Dasu, Whole Time Director and CEO, Avenue E-Commerce Limited
commented on the performance of the E-Commerce (DMart Ready) business: “We
added 10 new fulfilment centers in our existing markets and continued to invest
and deepen our presence in the large metro cities. We ceased operations in 5
cities (Amrtisar, Belgavi, Bhilai, Chandigarh and Ghaziabad) during the
quarter. We are now present across 19 cities in India.” | Avenue Supermarts : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202509 | 202409 | Var.(%) | 202509 | 202409 | Var.(%) | 202503 | 202403 | Var.(%) |
|---|
| Net Sales (including other operating income) | 16,676.30 | 14,444.50 | 15.45 | 33,036.00 | 28,513.64 | 15.86 | 59,358.05 | 50,788.83 | 16.87 | | OPM (%) | 7.28 | 7.57 | -29 bps | 7.61 | 8.12 | -51 bps | 7.56 | 8.08 | -52 bps | | OP | 1,213.65 | 1,093.77 | 10.96 | 2,512.69 | 2,315.02 | 8.54 | 4,487.33 | 4,103.77 | 9.35 | | Other Inc. | 19.57 | 33.52 | -41.62 | 39.00 | 75.12 | -48.08 | 124.31 | 146.45 | -15.12 | | PBIDT | 1,233.22 | 1,127.29 | 9.40 | 2,551.69 | 2,390.14 | 6.76 | 4,611.64 | 4,250.22 | 8.50 | | Interest | 34.96 | 16.32 | 114.22 | 64.26 | 32.28 | 99.07 | 69.45 | 58.13 | 19.47 | | PBDT | 1,198.26 | 1,110.97 | 7.86 | 2,487.43 | 2,357.86 | 5.50 | 4,542.19 | 4,192.09 | 8.35 | | Depreciation | 253.47 | 207.78 | 21.99 | 485.17 | 400.54 | 21.13 | 869.52 | 730.76 | 18.99 | | PBT | 944.79 | 903.19 | 4.61 | 2002.26 | 1957.32 | 2.30 | 3672.67 | 3461.33 | 6.11 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 944.79 | 903.19 | 4.61 | 2002.26 | 1957.32 | 2.30 | 3672.67 | 3461.33 | 6.11 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 944.79 | 903.19 | 4.61 | 2002.26 | 1957.32 | 2.30 | 3672.67 | 3461.33 | 6.11 | | Taxation | 259.94 | 243.75 | 6.64 | 544.6 | 524.2 | 3.89 | 965.22 | 925.72 | 4.27 | | PAT | 684.85 | 659.44 | 3.85 | 1457.66 | 1433.12 | 1.71 | 2707.45 | 2535.61 | 6.78 | | Minority Interest (MI) | -0.16 | -0.14 | -14.29 | -0.32 | -0.28 | -14.29 | -0.57 | -0.56 | -1.79 | | Net profit | 685.01 | 659.58 | 3.86 | 1457.98 | 1433.4 | 1.71 | 2708.02 | 2536.17 | 6.78 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 685.01 | 659.58 | 3.86 | 1457.98 | 1433.4 | 1.71 | 2708.02 | 2536.17 | 6.78 | | EPS (Rs)* | 10.53 | 10.14 | 3.86 | 22.41 | 22.03 | 1.71 | 41.61 | 38.97 | 6.78 | | | * EPS is on current equity of Rs 650.73 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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