DMart Q1 FY26 profit rises 12.8% to ₹936 cr; board clears ₹1,000 cr NCD issue
Avenue Supermarts posted 15.1% revenue growth to ₹18,343 crore and standalone PAT of ₹936 crore in Q1 FY26. EBITDA margin held at 8.3% on ₹1,527 crore. Same-store sales growth moderated to 5.5% as the network expanded to 503 stores spanning 20.7 million sq ft. The board approved raising up to ₹1,000 crore via NCDs.
What happened
Avenue Supermarts (DMart) reported 12.8% YoY standalone PAT rise to ₹936 crore in Q1 FY26 and approved raising up to ₹1,000 crore via NCDs. Same-store growth
Key facts
- ₹1,000 crore NCD
- PAT ₹936 crore standalone
- 12.8% YoY PAT rise
- revenue ₹18,343 crore
- 15.1% revenue growth
- EBITDA ₹1,527 crore
- 8.3% EBITDA margin
- EPS ₹14.35
- consolidated net profit ₹860 crore
- 5.5% SSSG
- 503 stores
- 20.7 million sq ft
Why this matters
The ₹1,000 crore NCD approval gives DMart low-cost capital to accelerate store expansion across its 20.7 million sq ft network without diluting equity.
What to watch
- SSSG trajectory in Q2/Q3 FY26 — whether 5.5% stabilizes or deteriorates further
- EBITDA margin holding 8%+ amid input cost and competitive discounting pressure
- Store addition pace vs 20.7M sq ft base and revenue per sq ft trend
- NCD coupon/pricing and interest cost impact on net margins
- Quick-commerce penetration data in DMart's core markets
- Deploy NCD proceeds toward store expansion and distribution infrastructure rather than dividends
- Accelerate DMart Ready (online) footprint in metros to counter quick-commerce
- Emphasize private-label and general merchandise mix to defend the 8.3% EBITDA margin
- Guide analysts on new-store maturation timeline to manage SSSG expectations