Part of Avenue Supermarts
DMart
DMart is still expanding, with 518 stores after 15 added in Q2 FY27 and like-for-like growth of 9.5% (Moneycontrol, 12 Oct), but its September-quarter EBITDA margin fell 30 bps to 7.3% (Mint, 16 Oct). Quick commerce overlaps about 80% of its trade areas (Mint), and sales per store, new stores included, fell 0.7% (Moneycontrol).
What it means
Store-led scale is outrunning margin at DMart.
Reported: Revenue +18.4% YoY, net profit +8.5% in Q2 FY27.
Watch: Q3 FY27 results, expected early Jan 2027 — the gap between revenue and net profit growth widens past Q2's 9.9 points.
Before its next results, expected early Jan 2027:Before then:
- Affected
- DMart's FMCG and staples suppliers — pressure on termsDo now: By early Jan: lock price floors and payment terms; it may look to supplier terms and private label to close the gap.
- Landlords behind its 18 new stores in H1 FY27 (), 15 of them in Q2 — harder rent talksDo now: By early Jan: expect it to push rents down on new leases; settle terms first.
- Eternal (quick commerce) — less risk of a price warDo now: By early Jan: hold your prices where you overlap with DMart.
Both figures from 5 Oct 2026 reports.
Our arithmetic · not a reported figureChange
- +1from Stores added, H1 FY26 to Stores added, H1 FY27
Latest moves
Our read of each move first, where we have one; what the report said is marked Reported.
Footprint: where DMart opened
5 store openings in 2 cities on record since May 2026.
- Bengaluru1 opening
Background
From 6 stories, the newest dated 12 Oct 2026. Summary written 13 Oct 2026.
DMart is a retail chain whose parent company is Avenue Supermarts.[1] source: CNBC-TV18
Show 3 more paragraphs and 6 sources
Avenue Supermarts filed its H1 FY2027 investor presentation on 10 October 2026, covering store expansion, DMart Ready and financial metrics.[2] source: NSE India: company announcements The store count shown was 518, including the Sanpada outlet in Navi Mumbai, which is closed for reconstruction.[2] source: NSE India: company announcements
DMart added 15 stores in 2Q, taking its total to 518, while revenue growth accelerated to ~18% YoY and like-for-like growth was 9.5%.[3] source: Moneycontrol Mint reported Q2 revenue of ₹19,644 crore, up 17.8%, and net profit of ₹743.5 crore, up 8.5%.[4] source: Mint The Q2 EBITDA margin was 7.3%, against 7.6% a year earlier and a CNBC-TV18 poll estimate of 7.7%.[1] source: CNBC-TV18 Shares fell as much as 4% on 12 October.[1] source: CNBC-TV18
Prabhudas Lilladher downgraded Avenue Supermarts to Reduce with a target price of Rs 3,214. It noted Q2FY27 sales/store fell 0.7% YoY despite 76 store additions over three quarters, and cited quick-commerce competition and margin pressure.[5] source: Moneycontrol Jefferies cut its target to Rs 4000 from Rs 4500 and Citi cut its target to Rs 3250.[6] source: NDTV Profit Motilal Oswal stayed Neutral with a target of Rs 3,925.[3] source: Moneycontrol
Sources
Questions about DMart
How many DMart stores are there?
DMart had 518 stores at the end of the September 2026 quarter, after adding 15 stores in 2Q. The count includes the Sanpada outlet in Navi Mumbai, which is closed for reconstruction. [3] source: Moneycontrol[2] source: NSE India: company announcements
More stories about DMart
- DMart grows revenue 18.4% but value retail stocks slide as V2 Retail cuts same-store sales guidance
- DMart approves up to ₹500 crore for DMart Ready operator Avenue E-Commerce
- Bernstein drops DMart from India model portfolio, citing quick-commerce pressure
- DMart Ready Exits 7 Cities, Retreats to 11 Metros as Quick-Commerce Bites
- DMart Q1 net profit rises 11.3% to ₹860.44 cr as sales climb 14.9%
- DMart Q1 FY27: Revenue up 14.9% but margins squeezed by costs, slowing metro-store growth
- DMart to Report Q1 FY27 Results on July 11 as Stock Slides 7% in Five Sessions
- DMart adds record 85 stores in FY26, crosses 500 outlets as analysts back store-led push
Stories that mention DMart
6 stories
DMart is named in these stories but is not their subject.
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