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Avenue Supermarts Ltd.
(DMART)
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Rating:62Neutral
Price Target:
₹3,384.00
▼(-15.77% Downside)
Action:Reiterated
Date:08/11/26
The score is primarily supported by solid underlying financial performance—especially a historically strong balance sheet and resilient profitability—tempered by slowing growth, margin pressure, and inconsistent (often negative) free cash flow. Technical signals are neutral-to-weak due to negative MACD and mixed moving-average positioning. Valuation is the largest drag given the very high P/E and lack of dividend yield support.
Positive Factors
Revenue Growth
Strong multi-year revenue expansion indicates sustained customer demand and broader sales activity across the retail network. Although growth has moderated, continued top-line progression can support operating leverage, supplier scale benefits, and reinvestment in the company’s value-focused store model.
Negative Factors
Growth Deceleration
The sharp slowdown from prior high growth rates reduces the pace at which stores, customer demand, and earnings can compound. If this moderation persists, the company may have less operating leverage and fewer internally generated resources to support expansion at historical returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Strong multi-year revenue expansion indicates sustained customer demand and broader sales activity across the retail network. Although growth has moderated, continued top-line progression can support operating leverage, supplier scale benefits, and reinvestment in the company’s value-focused store model.
Read all positive factors
Avenue Supermarts Ltd. (DMART) vs. iShares MSCI India ETF (INDA)
Market Cap
₹2.08T
Dividend YieldN/A
Average Volume (3M)46.27K
Price to Earnings (P/E)66.9
Beta (1Y)0.59
Revenue Growth16.19%
EPS Growth13.93%
CountryIN
Employees20,994
SectorGeneral
Sector StrengthN/A
IndustryDiscount Stores
Share Statistics
EPS (TTM)45.65
Shares Outstanding652,309,500
10 Day Avg. Volume38,199
30 Day Avg. Volume46,265
Financial Highlights & Ratios
PEG Ratio9.36
Price to Book (P/B)11.36
Price to Sales (P/S)4.04
P/FCF Ratio-429.82
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹3,827.33Price Target Upside-4.74% Downside
Rating ConsensusHold
Number of Analyst Covering6
EPS Forecast (FY)53.65
Revenue Forecast (FY)₹800.63B
Avenue Supermarts Ltd. Business Overview & Revenue Model
Company Description
Avenue Supermarts Limited operates as a leading organized retail chain, primarily managing supermarkets under its well-known D-Mart brand. These retail outlets offer a comprehensive selection of products, including a vast assortment of food items ...
How the Company Makes Money
Avenue Supermarts Ltd. primarily makes money by selling consumer goods through its DMart retail stores. Revenue is generated from the sale of merchandise across multiple categories—such as food and groceries, FMCG (including home and personal care...
Avenue Supermarts Ltd. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
88
Very Positive
Cash Flow
55
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 688.21B | 593.58B | 507.89B | 428.40B | 309.76B |
| Gross Profit | 103.61B | 85.83B | 73.30B | 63.14B | 44.80B |
| EBITDA | 52.61B | 45.00B | 41.11B | 36.43B | 25.06B |
| Net Income | 29.70B | 27.08B | 25.36B | 23.79B | 14.93B |
Balance Sheet | |||||
| Total Assets | 295.24B | 243.20B | 211.77B | 181.06B | 154.73B |
| Cash, Cash Equivalents and Short-Term Investments | 7.88B | 3.59B | 16.79B | 16.10B | 3.04B |
| Total Debt | 24.25B | 8.20B | 5.92B | 6.43B | 6.47B |
| Total Liabilities | 50.62B | 28.94B | 24.80B | 20.28B | 17.95B |
| Stockholders Equity | 244.64B | 214.28B | 186.98B | 160.79B | 136.78B |
Cash Flow | |||||
| Free Cash Flow | -6.47B | -9.60B | 145.90M | 5.47B | -10.38B |
| Operating Cash Flow | 34.67B | 24.63B | 27.46B | 26.30B | 13.72B |
| Investing Cash Flow | -42.07B | -21.85B | -24.68B | -23.13B | -12.89B |
| Financing Cash Flow | 2.88B | -2.59B | -1.48B | -2.05B | -1.79B |
Avenue Supermarts Ltd. Technical Analysis
Negative
4017.80
Price Trends
3624.52
Negative
3846.99
Negative
3953.92
Negative
Market Momentum
-148.41
Positive
31.12
Neutral
24.01
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:DMART, the sentiment is Negative. The current price of 4017.8 is above the 20-day moving average (MA) of 3365.58, above the 50-day MA of 3624.52, and above the 200-day MA of 3953.92, indicating a bearish trend. The MACD of -148.41 indicates Positive momentum. The RSI at 31.12 is Neutral, neither overbought nor oversold. The STOCH value of 24.01 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:DMART.
Avenue Supermarts Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | ₹1.61T | 68.40 | ― | 0.20% | 18.45% | 16.89% | |
64 Neutral | ₹1.00T | 392.53 | ― | ― | 27.41% | 220.61% | |
62 Neutral | ₹2.08T | 66.87 | ― | ― | 16.19% | 13.93% | |
60 Neutral | ₹3.31T | 636.39 | ― | ― | 143.65% | 159.25% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
42 Neutral | ₹488.58B | -12.46 | ― | ― | 42.21% | 22.15% |
* General Sector Average
IN:DMART
Avenue Supermarts Ltd.
3,192.00
-960.40
-23.13%
IN:NYKAA
FSN E-Commerce Ventures Ltd.
350.70
102.85
41.50%
IN:SWIGGY
Swiggy Limited
177.00
-233.05
-56.83%
IN:TRENT
Trent Limited
3,015.10
-109.35
-3.50%
IN:ETERNAL
Zomato Ltd.
343.00
25.25
7.95%
IN:MEESHO
Meesho Limited
223.10
52.90
31.08%
Avenue Supermarts Ltd. Corporate Events
Avenue Supermarts Fined for Project Delay, Says No Material Impact
Oct 27, 2026
Avenue Supermarts Ltd., operator of the DMart retail chain, is a leading Indian supermarket and hypermarket company focused on value retailing of groceries, FMCG products, and general merchandise to urban and suburban consumers. The company’...
Avenue Supermarts Expands DMart Network with New Bengaluru Store
Sep 23, 2026
Avenue Supermarts Ltd., which runs the DMart chain of value retail stores across India, has expanded its network by opening a new outlet in Bilekahalli, Bengaluru. This addition strengthens the company’s presence in the competitive Karnataka...
Avenue Supermarts Opens New D-Mart Store in Madhya Pradesh, Reaches 512 Outlets
Sep 20, 2026
Avenue Supermarts Ltd. has expanded its D-Mart retail footprint with the opening of a new store in Narmadapuram, Madhya Pradesh, taking its total store count to 512 across India. The addition strengthens the company’s presence in central Ind...
Avenue Supermarts Gets Exchange Nod to Reclassify Promoter as Public Shareholder
Sep 11, 2026
Avenue Supermarts Ltd. has received no‑objection letters from BSE and NSE approving the reclassification of shareholder Vijay Shankar Chandak from promoter group to public category under Regulation 31A of SEBI’s listing regulations. Th...
Avenue Supermarts Fined for Construction Non-Compliance in Bengaluru
Aug 26, 2026
Avenue Supermarts Ltd., operator of the DMart retail chain, is a leading Indian food and grocery retailer known for its large-format stores and discount-led, value-focused offerings targeting middle-income households in key metropolitan and growin...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.