Tag Business Milestones

DMart Earning Results
DMart Earning Results: Leadership Milestones and Anshul Asawa’s Appointment

Avenue Supermarts Ltd: Overview 

Avenue Supermarts Limited, popularly known as DMart, is a leading Indian retail chain primarily engaged in the business of organized grocery and household retailing. Founded in 2002 by Radhakishan Damani, the company operates a network of hypermarkets across India, providing a wide range of products including food, personal care, home essentials, apparel, and general merchandise. DMart is recognized for its value-for-money proposition, catering to middle and lower-middle-class customers by offering quality products at competitive prices. Most of DMart’s stores are self-owned, which helps reduce rental costs and enhances operational efficiency. The company focuses on penetrating specific regions before expanding into new areas, ensuring strong supply chain management and cost control. DMart operates over 330 stores across major Indian cities and towns. Its revenue mix is heavily tilted towards food and grocery, with a significant contribution from non-food categories like apparel and home essentials. The Indian retail sector, valued at over $900 billion in FY24, is expected to grow at a CAGR of 10%-12% over the next few years. The growth of tier-2 and tier-3 cities presents new opportunities for retail expansion. Organized retail accounts for about 12%-15% of the total retail market in India, offering significant room for growth as consumers shift from unorganized kirana stores to modern trade formats like DMart. 

Latest Stock News (13 Jan 2025) 

Neville Noronha will not be offering his candidature for renewal of his role as the Managing Director and CEO at the conclusion of his current term in January 2026 – a year from now. After more than two decades of exceptional leadership and a glorious tenure at the helm of the business, Neville has chosen not to extend his contract. The Board of Directors honours his decision and expresses profound gratitude for his extraordinary contribution to the company. The Board has appointed Anshul Asawa as the CEO Designate, effective March 15th, 2025. Under Neville’s stewardship, DMart has reached significant milestones, including surpassing the ₹50,000. Crore annual turnover mark and growing from 5 stores, when Neville joined the company, to more than 380 stores now. His visionary leadership, strategic foresight, and relentless focus on long-term value creation have set the company up for continued success. The foundation laid by Neville Noronha will remain a source of strength and inspiration. 

Business Segments 

  • Foods: It includes food items like groceries, dairy, staples, snacks, frozen foods, beverages, processed foods, cooking oils, etc. This segment is the highest contributor in the company’s revenue with 57.01% share. 
  • Non-Foods: Non-foods items include Home cares, personal cares, toiletries like shampoo, perfumes, soaps, beauty products, etc. This segment contributes 20% to company’s revenue. 
  • General Merchandise & Apparel: It includes Bathware products, toys for kids, kitchen appliances, garments, plastics goods, etc. This segment contributes about 23% in company’s revenue. 

Subsidiary Information 

  • ALIGN RETAIL TRADES PRIVATE LIMITED (ARTPL): ARTPL, a wholly-owned subsidiary Company incorporated on 22nd September, 2006, is engaged in the business of packing and selling of grocery products, spices, dry fruits, etc. Its revenue from operations for FY 2024 stood at ₹2,796.53 crore against ₹2,211.29 crore in the previous year. 
  • AVENUE FOOD PLAZA PRIVATE LIMITED (AFPPL): AFPPL, a wholly-owned subsidiary Company was incorporated on 8th June, 2004. It is engaged in the business of operating ready to eat food outlets at DMart stores. The revenue from operations of the Company for FY 2024 stood at ₹177.09 crore as against ₹124.41 crore for FY 2024. 
  • AVENUE E-COMMERCE LIMITED (AEL) AEL, a subsidiary Company, incorporated on 11th November, 2014 is engaged in the business of online and multi-channel grocery retail under the brand name of DMart Ready. AEL allows its customers to order a broad range of grocery and household products through its mobile app and website. AEL’s revenue from operations for FY 2024 stood at ₹2,899.20 crore compared to ₹2,202.03 crore in the FY 2023. 
  • REFLECT HEALTHCARE AND RETAIL PRIVATE LIMITED (RHRPL): RHRPL, a wholly-owned subsidiary Company was incorporated on 28th May, 2018 as Reflect Wholesale and Retail Private Limited. The name of the Company was changed from Reflect Wholesale and Retail Private Limited to Reflect Healthcare and Retail Private Limited since 15th September, 2022. The Company is in the business of operating pharmacy stores, the revenue from operations of the Company for FY 2024 was ₹3.16 crore and FY 2023 was ₹11,000. 

Q3 FY25 & Business Highlights 

  • Revenue of ₹15973 crore in Q3 FY25 up by 17.7% YoY from ₹13572 crore in Q3 FY24.  
  • EBITDA of ₹1217 crore in this quarter at a margin of 8% compared to 8% in Q3 FY24. 
  • Profit of ₹724 crore in this quarter compared to a ₹690 crore profit in Q3 FY24. 
  • DMart has total 387 stores as of Q3 FY25, and Maharashtra with highest 113 stores. 
  • DMart Ready is live in 25 cities, which was 1 city in 2017. And is trying to expand in tier 2&3 cities more.
  • The revenue per retail business area is ₹9317/sq. ft. in Q3 FY25, which was ₹8582 in Q2 FY25. 

Financial Summary 

INR Cr. Q3 FY24 Q3 FY25 FY23 FY24 
Revenue 13572 15973 42840 50789 
Expenses 12453 14755 39201 46683 
EBITDA 1120 1217 3639 4106 
OPM 8% 8% 8% 8% 
Net Profit 690 724 2378 2536 
NPM 5.08% 4.5% 5.55% 5% 
EPS 10.6 11.12 36.7 38.97