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Avenue Supermarts Ltd (DMART)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 540376 NSE: DMART Retailing | Large Cap | Avenue Supermarts Share Price

₹4,140.70 -25.45 (-0.61%)

As on 04-Jun'26 16:59

Avenue Supermarts Ltd (DMART)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 540376 NSE: DMART Retailing | Large Cap | Avenue Supermarts Share Price

₹4,140.70 -25.45 (-0.61%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹2,70,069 Cr.
Current Price
₹4,140.7
52-Week Low / High
₹3,529 / 4,916
TTM EPS
₹49.4
TTM Sales
₹66,968 Cr.
Book Value per Share
₹391.3
P/E Ratio
83.77
Lower than its 5-year historical median
Industry PE
70.6
Price to Book (P/B)
10.58
Lower than its 5-year historical median
Price to Sales (P/S)
4.03
Lower than its 5-year historical median
EV/EBITDA
50.30
Lower than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
14.14%
Underperforms industry median
Return on Capital Employed (ROCE)
18.99%
Underperforms industry median
Return on Assets (ROA)
12.60%
Operating Profit Margin
7.9%
Net Profit Margin
5.07%
Gross Profit Margin
7.3%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
16.67%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
10.81%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
8.62%
Asset Quality
Promoter Holding
74.51%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹24,868 Cr.
Equity
₹652.2 Cr.
Face Value
₹10
All Time Low / High
₹558.75 / 5899.90

Avenue Supermarts stock performance

Key Ratios
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Check Before You Invest

Valuation

Undervalued

Price Trend

Semi Strong
Q.1 Is Avenue Supermarts Ltd a good quality company?
Avenue Supermarts Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Avenue Supermarts Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Avenue Supermarts Ltd vs industry peers?
Avenue Supermarts Ltd revenue CAGR is 18.55%, compared to the industry median CAGR of 28.93%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of Avenue Supermarts Ltd?
Promoters hold 74.51% of the Avenue Supermarts Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 How do the current valuation ratios compare with 5-year historical median and industry numbers?

DeciZen - make an informed investing decision on Avenue Supermarts

Decision Maker
Standalone basis

1. Right Stock

10 Year X-ray Pro
Long Term Prospect

2. Right Price

3. Right Time

#Likely Future 5 Year CAGR.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Avenue Supermarts Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 24.2%21.7%24.1%26.3%21.1%13.5%16.9%21.6%20.4%19%-
Value Creation
Index
1.20.61.21.30.90.20.50.90.80.7-

Growth Parameters

Sales 8,57511,88115,00919,91624,67523,78730,35341,83349,53357,79066,968
Sales YoY Gr.-38.6%26.3%32.7%23.9%-3.6%27.6%37.8%18.4%16.7%-
Adj EPS 5.67.712.414.820.617.924.939.341.144.749.4
YoY Gr.-35.8%61.4%19.8%39.2%-13.2%39.2%57.8%4.7%8.8%-
BVPS (₹) 26.961.57489171.5189.5214.4253.9295.8340.7391.3
Adj Net
Profit
3174787719241,3361,1601,6142,5482,6772,9113,224
Cash Flow from Ops. 4254497238531,2871,3851,3152,6782,7432,597-
Debt/CF from Ops. 2.83.30.60.8000000-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 23.6%18.6%23.9%16.7%
Adj EPS 25.9%16.8%21.6%8.8%
BVPS32.6%14.7%16.7%15.2%
Share Price - 5.3% 5.4% -0.3%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
23.417.918.218.1169.912.316.8151413.5
Op. Profit
Mgn %
7.78.18.98.38.67.38.38.88.37.97.9
Net Profit
Mgn %
3.745.14.65.44.95.36.15.454.8
Debt to
Equity
0.80.40.10.10000000
Working Cap
Days
3129292951684835343619
Cash Conv.
Cycle
1616161617212118182010

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales8,57511,88115,00919,91624,67523,78730,35341,83349,53357,790
Operating Expenses + 7,91910,91813,67218,27422,55322,04527,85138,17445,43453,247
Manufacturing Costs3154254856237978588951,2371,4711,887
Material Costs7,31410,09612,64916,98021,01620,35626,05335,77542,54749,616
Employee Cost 1461892773354254955486487861,013
Other Costs 143207262336315336355514630730
Operating Profit 6579641,3371,6422,1221,7422,5023,6594,0994,543
Operating Profit Margin (%) 7.7%8.1%8.9%8.2%8.6%7.3%8.2%8.7%8.3%7.9%
Other Income + 2031735163209141163189174
Exceptional Items 0000000000
Interest 911225947633440484458
Depreciation 97126155199340371421543633776
Profit Before Tax 4887471,1961,4481,7831,5452,1823,2313,6113,883
Tax 170264411511433379566675916956
Profit After Tax 3184837859361,3501,1651,6162,5562,6952,927
PAT Margin (%) 3.7%4.1%5.2%4.7%5.5%4.9%5.3%6.1%5.4%5.1%
Adjusted EPS (₹)5.77.712.615.020.818.025.039.441.445.0
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Valuation of Avenue Supermarts - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 1,5123,8364,6205,55511,11012,27413,88716,45919,24822,168
Share Capital 562624624624648648648648651651
Reserves 9503,2123,9964,93110,46211,62613,23915,81118,59721,517
Debt +1,0221,104253425400000
Long Term Debt908981246126000000
Short Term Debt1131237299400000
Minority Interest0000000000
Trade Payables2002673164584465665317019531,004
Others Liabilities 3475964235595258079861,0831,3651,720
Total Liabilities 3,0825,8025,6126,99812,08413,64615,40418,24421,56624,891

Fixed Assets

Net Fixed Assets +2,0652,5223,2404,2165,7196,6298,73310,75812,93415,720
Gross Block2,1622,7443,6164,7866,6237,89410,40312,95615,72819,236
Accumulated Depreciation972233765709051,2641,6702,1982,7943,515
CWIP 821531473773621,0061,0738299301,091
Investments 16371812122874025329771,0711,255
Inventories6609331,1471,5761,9092,1672,5873,0563,7234,805
Trade Receivables82133764972231247393349
Cash Equivalents 331,881556214921,4322841,373560331
Others Assets 2172563083283,6661,9371,9641,0051,9551,340
Total Assets 3,0825,8025,6126,99812,08413,64615,40418,24421,56624,891

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 4254497238531,2871,3851,3152,6782,7432,597
PBT 4887471,1961,4481,7831,5452,1823,2313,6113,883
Adjustment 170219164220359217335448511695
Changes in Working Capital -71-263-240-321-373-120-648-301-649-1035
Tax Paid -163-254-396-493-482-256-553-700-730-946
Cash Flow From Investing Activity + -625-2,475432-998-4,700-1,155-1,292-2,442-2,584-2,322
Capex -631-633-890-1,369-1,678-1,968-2,282-2,129-2,685-3,346
Net Investments -11-211,375109-1131,050-149-209860
Others 17-1,821-53361-3,031925-60-164310163
Cash Flow From Financing Activity + 1962,024-1,1222013,384-140-121-132-87-204
Net Proceeds from Shares 01,841001100016730
Net Proceeds from Borrowing -14745-542134-15000000
Interest Paid -93-120-80-54-91-36-39-48-44-58
Dividend Paid 0000000000
Others 437259-4991213,514-104-81-100-115-146
Net Cash Flow -3-23456-2990-981037271

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)23.518.0518.5618.416.29.9712.3616.8515.0914.14
ROCE (%)24.1921.724.1426.2921.1413.4516.9421.5520.4318.99
Asset Turnover Ratio3.382.872.893.472.832.022.292.732.742.73
PAT to CFO Conversion(x)1.340.930.920.910.951.190.811.051.020.89
Working Capital Days
Receivable Days0.300.400.600.900.800.901.701.902.102.10
Inventory Days23.7022.802322.7023.5028.6026.1022.4022.7024.50
Payable Days8.308.508.408.307.909.107.706.307.107.20

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Avenue Supermarts Ltd FAQs

The current trading price of Avenue Supermarts on 04-Jun-2026 16:59 is ₹4,140.7.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 03-Jun-2026 the market cap of Avenue Supermarts stood at ₹2,70,068.9 Cr

The latest P/E ratio of Avenue Supermarts as of 03-Jun-2026 is 83.77.

The latest P/B ratio of Avenue Supermarts as of 03-Jun-2026 is 10.58.

The 52-week high of Avenue Supermarts is ₹4,916.3 and the 52-week low is ₹3,528.7.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Avenue Supermarts is ₹66,968 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Avenue Supermarts Ltd is a good quality company.

The key valuation ratios of Avenue Supermarts Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Avenue Supermarts Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Avenue Supermarts Ltd

Avenue Supermarts incorporated in year in 2002 is Mumbai based supermarket chain D-Mart. The company is among the largest and the most profitable F&G retailer in India. It offers a wide range of products with a focus on the Foods, Non-Foods (FMCG) and General Merchandise & Apparel product categories. It has many stores located across several cities in India. The company operates and manages all its stores. It also operates distribution centres and packing centres which form the backbone of the supply chain to support its retail store network.

Business area of the company

The company operates and manages all their stores. They operate predominantly on an ownership model (including long-term lease arrangements, where lease period is more than 30 years and the building is owned by it) rather than on a rental model. The company opens new stores using a cluster approach on the basis of adjacencies and focusing on an efficient supply chain, targeting densely-populated residential areas with a majority of lower-middle, middle and aspiring upper-middle class consumers. The company operates distribution centres and packing centres which form the backbone of the supply chain to support the retail store network.

The key product categories:

  • Foods: Groceries, staples, processed foods, dairy, frozen products, beverages & confectionery and fruits & vegetables.
  • Non Foods (FMCG): Home care products, personal care products, toiletries and other over-the-counter products.
  • General Merchandise & Apparel: Bed & bath, toys & games, crockery, plastic goods, garments, footwear, utensils and home appliances.

Major events and milestones

  • 2001: The Company was incorporated as Avenue Supermarts.
  • 2003: The Company opened its first store in Powai, Mumbai.
  • 2005: The Company entered into a scheme of amalgamation for transfer of undertakings of Koop Consumer Services, Amodini Real Estates and Shoppers Delight to the company.
  • 2007: The Company opened its first store in Gujarat.2010 The store count of the Company increased to 25 stores and their audited consolidated revenues exceeded Rs 10,000 million.
  • 2011: The Company opened stores in Andhra Pradesh and Karnataka.
  • 2012: The Company was converted from a private company to a public company and the name of the Company changed to Avenue Supermarts.
  • 2012: The store count of their Company increased to 50 stores.
  • 2014: The store count of their Company increased to 75 stores.
  • 2015: The Company opened stores in Madhya Pradesh and Chattisgarh. The audited consolidated revenues of their Company exceeded Rs 50,000 million.
  • 2016: The Company opened 21 stores, highest in any financial year. The store count of their Company increased to 110 and their consolidated revenues exceeded Rs 75,000 million.
  • 2017 : The Company opened a store in the National Capital Region.
  • 2018: The company has incorporated wholly owned subsidiary named ‘Reflect Wholesale and Retail’.
  • 2020: The company converts two stores into fulfilment centres for e-commerce business.
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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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