DMart Q1 PAT rises 12.8% to ₹936 crore; board clears ₹1,000-crore NCD issue
Avenue Supermarts posted 15.1% revenue growth to ₹18,343 crore in Q1 FY26, with EBITDA margin at 8.3%. Same-store growth moderated to 5.5%. The company added three stores to reach 503 outlets and 20.7 million sq ft, while approving up to ₹1,000 crore via NCDs.
What happened
DMart operator Avenue Supermarts posted 12.8% rise in standalone Q1 PAT to ₹936 crore on 15.1% revenue growth, approved raising up to ₹1,000 crore via NCDs, and
Key facts
- ₹1,000 crore NCD
- PAT ₹936 crore standalone
- PAT up 12.8%
- revenue ₹18,343 crore
- revenue up 15.1%
- EBITDA ₹1,527 crore
- EBITDA margin 8.3%
- EPS ₹14.35
- consolidated revenue ₹18,795 crore
- consolidated net profit ₹860 crore
- SSSG 5.5%
- 503 stores
- 20.7 million sq ft
- 3 new stores
Why this matters
The ₹1,000-crore NCD approval signals a debt-funded expansion push behind the 503-store footprint, opening scope for accelerated real-estate acquisition and format experimentation to defend market share.
What to watch
- SSSG trajectory next 2 quarters — below 5% signals structural demand loss
- EBITDA margin recovery above 8.5%
- Store addition run-rate vs guidance (net adds per quarter)
- DMart Ready GMV and losses disclosure
- Quick-commerce grocery share gains in DMart core cities
- Accelerate DMart Ready fulfillment to counter quick-commerce erosion in metros
- Deploy NCD proceeds toward store rollout and distribution capex rather than dividends
- Sharpen private-label and grocery mix to defend margin against discretionary softness
- Push into under-penetrated Tier-2/3 markets where quick-commerce is weaker