# DMart share price today (Avenue Supermarts Ltd, NSE: DMART)

> DMart share price today: ₹3,414.00 at the NSE close on 4 November 2026, down 14.9% in a year. Avenue Supermarts (NSE: DMART) is worth ₹2,22,699 crore, trades at a P/E of 71.5 and has closed between ₹3,157.70 and ₹4,629.90 over the past 52 weeks. > Avenue Supermarts Ltd's earnings have grown faster than its share price. Earnings per share grew +9.5% in a year while the price moved −14.9%. DMART · Retail - Departmental Stores · data as of 4 November 2026. Page: https://www.sectoralpha.in/stocks/avenue-supermarts-ltd

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## Key numbers

- Business trend: Growing steadily, from the last 12 quarters
- Price: ₹3,414.00 (−14.9% in a year)
- P/E: 71.5× (lower than 99% of the last 9.6 years)
- Revenue (Sep 2026): ₹19,644 Cr (+17.8% on a year ago)
- Profit (Sep 2026): ₹743 Cr (+8.5% on a year ago)
- Operating margin: 7.0% (flat on a year ago)
- ROCE: 17%, FY26
- ROIC: 11.3%, against a 12.0% cost of capital: −0.7 points

The main question: foreign institutions moved −1.5 percentage points over 8 quarters while the business went the other way. ## What is the DMart share price today? Avenue Supermarts Ltd's share price was ₹3,414.00 at the close on 4 November 2026. It has been falling for 11 weeks. That is 12.4% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹3,158 and ₹4,630, and at that close it sat 17% of the way up from that low. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 5 weeks running. Over the last 9.6 years the share price moved +453% while the NIFTY 500 moved +176%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 1 October 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at DMart this quarter? Three changes stood out: revenue up on a year earlier for 12 quarters in a row (every quarter we can compare), profit up on a year earlier for 5 quarters in a row and highest quarterly revenue in 16 quarters. 1. Revenue up on a year earlier for 12 quarters in a row (every quarter we can compare) In the September 2026 quarter revenue was ₹19,644 crore, +17.8% on a year earlier. 2. Profit up on a year earlier for 5 quarters in a row In the September 2026 quarter profit was ₹743 crore, +8.5% on a year earlier. 3. Highest quarterly revenue in 16 quarters Revenue of ₹19,644 crore in the September 2026 quarter is the highest of the last 16 quarters. ## What are DMart's latest quarterly results? For July to September 2026 (the quarter ended 30 September 2026), DMart reported revenue of ₹19,644 crore, up 17.8% from ₹16,676 crore a year earlier, and a profit of ₹743 crore, up 8.5% from ₹685 crore. ### DMart results: July to September 2026 against a year earlier

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹19,644 crore | ₹16,676 crore | +17.8% |
| Profit | ₹743 crore | ₹685 crore | +8.5% |
| Earnings per share | ₹11.40 | ₹10.53 | +8.3% |
| Operating margin | 7.0% | 7.0% | 0.0 points |

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). The newest call in our records is from 28 July 2026, about April to June 2026; a call about these results is not in our records yet. (From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.)

## What is the DMart share price history? DMart closed at ₹3,414.00 on 4 November 2026, down 14.9% from ₹4,011.00 a year earlier (7 November 2025) and down 28.6% over five years. Its highest weekly close since March 2017 was ₹5,323.75 on 14 October 2021. ### DMart share price: then and now

| When | Close | Change to 4 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 30 Oct 2026 | ₹3,199.00 | +6.7% |
| 1 month ago · 1 Oct 2026 | ₹3,813.00 | −10.5% |
| 6 months ago · 8 May 2026 | ₹4,402.10 | −22.4% |
| 1 year ago · 7 Nov 2025 | ₹4,011.00 | −14.9% |
| 3 years ago · 3 Nov 2023 | ₹3,649.70 | −6.5% |
| 5 years ago · 4 Nov 2021 | ₹4,783.70 | −28.6% |
| Earliest and lowest weekly close in our records · 24 Mar 2017 | ₹616.90 | +453.4% |
| Highest weekly close since March 2017 · 14 Oct 2021 | ₹5,323.75 | −35.9% |
| 52-week high (weekly close) · 29 Apr 2026 | ₹4,629.90 | −26.3% |
| 52-week low (weekly close) · 23 Oct 2026 | ₹3,157.70 | +8.1% |

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (509 weekly closes from 24 March 2017 to 4 November 2026.)

## What is the latest news on DMart? 4 Nov 2026: DMart closed at ₹3,414.00, up 6.7% on the week and down 10.5% on the month. Results for July to September 2026: Revenue up 17.8% and profit up 8.5% on a year earlier. ### Earlier

- 28 Jul 2026: DMart held its results call for April to June 2026. Management guided: Annual store additions around 15.0% of the opening store base. - Our read, 17 May 2026: A scale milestone masking a capital efficiency reversal, 500 stores arrived, but ROCE has compressed three straight years. ### Our read of the business

Latest quarter: 500-store milestone, record quarterly additions, SSSG spikes, profit misses estimates, sequential revenue dips. (Our read after the latest results, written 17 May 2026.)

## What dividend does DMart pay? DMart has paid no dividend on the NSE since 1 April 2021, the start of the period we checked. No. Avenue Supermarts Ltd paid out 0% of its profit as dividends in each of its last 13 reported years, so there is no payout history to show. That comes from the filed annual statements, not an estimate. (From the NSE corporate-actions record, read 5 November 2026.)

## What did DMart management say on the latest results call? On the call for April to June 2026, held on 28 July 2026, DMart's management guided: Annual store additions around 15.0% of the opening store base. > “We are very clear that, in these 11 cities where the bulk of our business comes from, D Mart Ready must provide a service that is sustainable over the long term, which means it needs to be profitable as well”
> Anshul Asava, on the call for April to June 2026

### What management guided

- FY27 SSG around the FY26 annual level, reported at 8.1%. - DMart Ready concentrated in 11 cities, with most customer deliveries planned within six hours and a sustainable profitable model to be proven before broader expansion. - DMart Ready losses to reduce significantly through better order density, throughput and capacity utilization after city consolidation. - Future gross margin of 14.0%-15.0% and net margin around 5.0% remain the business North Star. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijoristack.ai/concall/transcript/6857-28-Jul-2026.pdf). (From the call for April to June 2026, 28 July 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.)

## What is the future of DMart? What is changing in the business? What is changing at DMart, from the latest results and calls: store rollout acceleration, 85 stores fy26 (record annual), 58 in q4 (record single quarter), sssg recovery, ~10% in january to march 2026 vs 6-7% prior two quarters and organized retail tam expansion, tier-2 city penetration. - Store Rollout Acceleration, 85 Stores FY26 (Record Annual), 58 in Q4 (Record Single Quarter). 85 net new stores in FY26 (record), 58 in Q4 alone (record). 12 opened March 31, full revenue tailwind deferred into April to June 2026. ⚠ estimate
- SSSG Recovery, ~10% in January to March 2026 vs 6-7% Prior Two Quarters. SSSG jumped from 6-7% in Q2/Q3 to ~10% in Q4, sharpest single-quarter acceleration in recent memory. Sustainability unconfirmed. ⚠ estimate
- Organized Retail TAM Expansion, Tier-2 City Penetration. New openings in Haryana, UP, Odisha, Chhattisgarh broadening TAM beyond Maharashtra+Gujarat. India's top 10 retailers added 25% more stores in FY26 vs FY25. ⚠ estimate
- EDLP Moat, Cost Structure and Volume Flywheel. Ownership of real estate, 33-day inventory turns, 7-day payables, and 500-store scale create a cost-to-serve moat that is difficult to replicate. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown. (Our read after the latest results, written 17 May 2026.)

## What could change the DMart story? What are the risks? ROCE 17.1% FY26 vs 20.1% FY23, capital spending expands denominator faster than earnings grow the numerator. ### The main risks

- ROCE Compression, 300 basis points Lost Over 3 Consecutive Years: ROCE 17.1% FY26 vs 20.1% FY23, capital spending expands denominator faster than earnings grow the numerator. ⚠ estimate
- Quick Commerce Structural Threat, DMart Ready Retreating (25 → 18 Cities): DMart Ready scaled back from 25 to 18 cities in FY26; Blinkit (44-49% share) and Zepto (29-30%) are compounding at rates DMart Ready has not matched. ⚠ estimate
- Balance Sheet Inflection, Debt Tripled in 12 Months; free cash flow Negative Through FY28: Total debt ₹693 Cr → ₹2,267 Cr in 12 months; commercial paper issuances begun; free cash flow expected negative through FY28. ⚠ estimate
- SSSG Sustainability, Q4 Spike Possibly Seasonal: Q4 SSSG jumped to 10% from 6-7% in prior two quarters. ⚠ estimate

(Our read after the latest results, written 17 May 2026.)

## What to watch in DMart's next results? When DMart reports October to December 2026, these are the 3 checks that show whether the story is still on course. First: FY27 mature-store SSG tracking the FY26 annual level of 8.1%, with metro saturation and quick-commerce competition still visible. - What to check (from the call)
- FY27 mature-store SSG tracking the FY26 annual level of 8.1%, with metro saturation and quick-commerce competition still visible. - Store openings relative to the 15.0% internal benchmark, including leased share and property pipeline as new-state density builds. - DMart Ready in 11 cities: service within six hours, order density and capacity utilization, and evidence that losses are reducing materially. ## Which stock lists is DMart on? DMart is on one of our India lists: 52 week high & low. [52 week high & low 52-week position: Near 52-week low](https://www.sectoralpha.in/52-week-high-stocks-india)

## Is DMart profitable? Avenue Supermarts Ltd earned ₹743 Cr of net profit in the Sep 2026 quarter, +8.5% on the same quarter a year earlier. That is the 5th quarter in a row of profit growth. Full-year FY26 profit was ₹2,970 Cr. Over 10 years profit has grown 25.0% a year on average. That is 3.8% of the quarter's revenue. The same quarter a year earlier earned ₹685 Cr. For the full year, FY26 profit was ₹2,970 Cr (+9.7% on the year before). Why profit moved: revenue changed +17.8% on a year earlier and the margin moved +0.0 percentage points. Sales did the work, and the margin was about flat. On average over the last four quarters, profit changed +14.3% and revenue +16.2%. Profit and revenue are moving at about the same pace. FY26-Q3. Sequential peak ₹18,101 Cr, SSSG in 6-7% range, OPM 8%

Why-sources: our stock research file (17 May 2026) and the company’s own results for those quarters. ## How much revenue does DMart make, and is it growing? Avenue Supermarts Ltd reported ₹19,644 Cr of revenue in the Sep 2026 quarter, +17.8% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 10 years it has grown 23.1% a year on average. The last full year, FY26, came in at ₹68,821 Cr. Why this happened. DMart's addressable market has historically concentrated in Maharashtra and Gujarat (>40% of stores). FY26 expanded into newer states. Organized retail penetration in Indian grocery (~8-10%) vs Southeast Asian benchmarks (25-40%) remains a multi-year structural growth lever. The ET analysis noted DMart and Reliance Retail leading a 25% increase in net store additions across the top 10 listed retailers, driven by Tier-2 demand recovery and consumer preference for organized formats in smaller towns. The last four reported quarters add to ₹74,224 Cr. FY26 revenue was ₹68,821 Cr, +15.9% on the year before. Recent pace: the last four quarters grew +16.2% on average, against 23.1% a year over the longer run, so this year is growing slower than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +16.2%, against +16.4% a year over the last 8 quarters (stabilising); profit over the last 12 months grew +14.0%, against +7.7% a year (accelerating). FY26-Q3. Sequential peak ₹18,101 Cr, SSSG in 6-7% range, OPM 8%

Why-sources: our stock research file (17 May 2026) and the company’s own results for those quarters. ## How much of every ₹100 of sales does DMart keep? Avenue Supermarts Ltd's operating margin was 7.0% in the Sep 2026 quarter, about the same as the same quarter a year ago. Across 13 years it has been between 7.0% and 9.0%. The latest quarter is within that range. Why this happened. DMart's core growth engine has been store rollout. FY26 saw the company reach 500 stores with 85 additions, up from ~50 in FY25. Q4's 58-store quarter was the highest single-quarter addition in company history. Critically, 12 of those 58 stores were opened on March 31 alone, contributing near-zero revenue to Q4 but representing a meaningful deferred tailwind for Q1 FY27. The cluster-based strategy concentrates in Maharashtra (128), Gujarat (75), Telangana (48), Andhra Pradesh (47), Karnataka (50), with expansion into newer states. Revenue per sq ft declined slightly from ₹33,896 to ₹33,422, early dilution from rapid openings that should normalize within 18-24 months as stores mature. In the latest quarter it moved +0.0 percentage points on the same quarter a year ago. Why the margin moved: operating margin changed −0.2 percentage points on the year while gross margin changed −0.1 points. So the drop came mostly from costs below the gross margin, such as staff and overheads, measured against sales. FY26-Q3. Sequential peak ₹18,101 Cr, SSSG in 6-7% range, OPM 8%

Why-sources: our stock research file (17 May 2026) and the company’s own results for those quarters. ## Is DMart's profit turning into cash? Over the last 3 years, 106% of Avenue Supermarts Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹3,467 Cr of operating cash against ₹2,970 Cr of profit. After ₹5,122 Cr of spending on assets, free cash was −₹1,655 Cr: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 106% of profit came in as cash: the cash cycle stayed about the same between FY21 and FY26, so the cash follows profit, not the cycle. What to look at next: the bigger use of cash is spending on new assets, at 4.5× depreciation over three years. The next section checks what that spending is building. ## Where does DMart's cash go? Avenue Supermarts Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 29 days in FY26, down from 30 days in FY21. It spent ₹11,859 Cr on assets over the last 3 years. Customers take 1 days to pay, and stock sits for 37 days on average. At FY26 sales of ₹68,821 Cr, each day of that cycle ties up about ₹189 Cr, so roughly ₹5,468 Cr is tied up in the business at any time. FY26: customers took 1 days to pay and stock sat for 37 days, about 1.2 months of sales sitting as stock, for a full cycle of 29 days, shorter than FY21's 30. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 37 days. Customers pay about 1 days after that. Suppliers are paid at 8 days. Together that makes the 29-day cycle. Spending on assets: ₹11,859 Cr over the last 3 years, against ₹2,638 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹1,300 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is DMart's P/E ratio, and how does it compare with its own history? Avenue Supermarts Ltd's P/E is 71.5×, about the lowest it has ever been. Its usual P/E (the middle reading) is 116.3×, over 9.6 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved +9.5% while the price moved −14.9%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 5 years the price moved −6.5% a year; about +23.0% a year came from earnings growth and about −29.5 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. ## Is the DMart business getting better or worse? Avenue Supermarts Ltd's business is growing steadily. Revenue, profit and EPS growth have stayed positive throughout, and ROCE is steady at 17.3%. This is based on 12 quarters of 4 measures. Why it matters: steady growth with healthy returns is how a business compounds over time. ## What is the DMart story, and has it been checked? Avenue Supermarts Ltd's story is not scored yet against the checks our research set on 17 May 2026. Where it sits in its own cycle: MODERATE COMPRESSION FROM PEAK. Still open: ROCE 17.1% FY26 vs 20.1% FY23, capex expands denominator faster than earnings grow the numerator. Our read, 17 May 2026. A scale milestone masking a capital efficiency reversal, 500 stores arrived, but ROCE has compressed three straight years. From the numbers. Well below peak (211.9x Sep 2021) and median (114.9x) but not at trough (104.1x Jun 2019). From the price. Price stage 4, week 11, below its 200-day line, relative strength falling. From the research. A scale milestone masking a capital efficiency reversal, 500 stores arrived, but ROCE has compressed three straight years. Where they disagree. Well below peak (211.9x Sep 2021) and median (114.9x) but not at trough (104.1x Jun 2019). Institutional signal MIXED: FII stake declined 9.95% (Sep 2024) → 8.73% (Sep 2025) → 8.71% (Dec 2025); DII increased 7.43% → 9.02% → 8.83%. FII exit is a watch signal. What is proven. A scale milestone masking a capital efficiency reversal, 500 stores arrived, but ROCE has compressed three straight years. What is not proven yet. ROCE 17.1% FY26 vs 20.1% FY23, capex expands denominator faster than earnings grow the numerator. The test written in advance. ROCE Compression, 300bps Lost Over 3 Consecutive Years. Measured by: ROCE Compression, 300bps Lost Over 3 Consecutive Years Q1-Q2 FY27 ROCE trajectory, must stabilize or improve toward 17.5%+ by the next result. The test written in advance. Quick Commerce Structural Threat, DMart Ready Retreating (25 → 18 Cities). Measured by: Quick Commerce Structural Threat, DMart Ready Retreating (25 → 18 Cities) DMart Ready city count in FY27, reversal from 18 cities or further contraction? by the next result. The test written in advance. Balance Sheet Inflection, Debt Tripled in 12 Months; FCF Negative Through FY28. Measured by: Balance Sheet Inflection, Debt Tripled in 12 Months; FCF Negative Through FY28 Net debt/equity by Q2 FY27; interest coverage ratio; whether FY27 store additions decelerate by the next result. Lever 1 · Operating leverage: building. 85 net new stores in FY26 (record), 58 in Q4 alone (record). 12 opened March 31, full revenue tailwind deferred into Q1 FY27. What proves it keeps working: Store Rollout Acceleration, 85 Stores FY26 (Record Annual), 58 in Q4 (Record Single Quarter). It stops working if Q1-Q2 FY27 ROCE trajectory, must stabilize or improve toward 17.5%+. Lever 2 · Value-added mix: building. SSSG jumped from 6-7% in Q2/Q3 to ~10% in Q4, sharpest single-quarter acceleration in recent memory. Sustainability unconfirmed;. What proves it keeps working: SSSG Recovery, ~10% in Q4 FY26 vs 6-7% Prior Two Quarters. It stops working if Q1-Q2 FY27 ROCE trajectory, must stabilize or improve toward 17.5%+. Lever 14 · A bigger market to serve: building. New openings in Haryana, UP, Odisha, Chhattisgarh broadening TAM beyond Maharashtra+Gujarat. India's top 10 retailers added 25% more stores in FY26 vs FY25. What proves it keeps working: Organized Retail TAM Expansion, Tier-2 City Penetration. It stops working if Q1-Q2 FY27 ROCE trajectory, must stabilize or improve toward 17.5%+. Lever 15 · Market-share gains: building. Ownership of real estate, 33-day inventory turns, 7-day payables, and 500-store scale create a cost-to-serve moat that is difficult to replicate. What proves it keeps working: EDLP Moat, Cost Structure and Volume Flywheel. It stops working if Q1-Q2 FY27 ROCE trajectory, must stabilize or improve toward 17.5%+. Sources: our stock research file (17 May 2026) · quarterly results through Sep 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did DMart management deliver what it promised? What Avenue Supermarts Ltd's management promised, against what actually happened: 2 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. Technology Readiness Reversed · 28 July 2026. In Jul 2025, management described the e-commerce technology platform as already robust, fully built and scalable, and said the constraints on growth were strategic rather than technological. DMart Ready Footprint Retracted · 28 July 2026. The Jul 2025 call described DMart Ready as operating in 24 cities. In Jul 2026, management narrowed the stated focus to 11 cities and said it was concentrating all attention and resources on proving profitability; although management cited minimal contribution and rising losses as the rationale, this is a material reversal in the expansion narrative that changes the online growth and thesis. Every quote above is taken word for word from the company’s own earnings calls. ## How much does DMart earn on its capital? Avenue Supermarts Ltd earned a ROCE of 17% in FY26. That is up from a low of 13% in FY21. Its return on capital used (ROIC) is 0.7 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a 4.3% net margin and 2.33× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 4.3% net margin × 2.33× asset turnover × 1.21× leverage (assets divided by equity) ≈ 12.1% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: 11.3% − 12.0% = −0.7 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. The 11.3% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 12.7%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does DMart have too much debt? Avenue Supermarts Ltd has total debt of ₹4,264 Cr against shareholder equity of ₹26,096 Cr as of Sep 2026, so its debt is 0.16× its equity, which is very little. Year by year, that ratio went from 0.05 in FY22 to 0.10 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the DMart shareholding pattern? Domestic institutions raised their stake in Avenue Supermarts Ltd by 2.0 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 9.4% of the company. Foreign institutions moved −1.5 points over the same period, to 8.5%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: +2.0 points over 8 quarters, to 9.4%; Foreign institutions: −1.5 points over 8 quarters, to 8.5%; Promoters: −0.2 points over 8 quarters, to 74.5%. Why the owners changed: foreign institutions moved −1.5 points and domestic institutions +2.0 points over 8 quarters, while promoters stayed about the same. One group of institutions took over shares from the other; it is not a change of mind by the people running the company. ## How far is DMart from balance-sheet trouble? For Avenue Supermarts Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does DMart rank in its industry? 38.6 out of 100, rank 2 of 3 in Retail - Departmental Stores, with 90% of the evidence available. Avenue Supermarts Ltd scores 38.6 out of 100 against the 3 companies it is compared with in Retail - Departmental Stores, ranking 2. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 20.2 + 13.4 + 5 + 0 = 38.6. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is DMart compared with? DMart ranks 2 of 3 Retail - Departmental Stores companies on the 4-Factor Sector Score, with 38.6 out of 100. 1. [Shoppers Stop Ltd](https://www.sectoralpha.in/stocks/shoppers-stop-ltd) SHOPERSTOP · losing its lead · Evidence leans up · 71% evidence 50.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 15.6/35 · Revenue 8.7% · Profit -80% · Operating margin change 0.8 points · 74% evidence Capital efficiency 5.7/25 · ROCE 7% · Operating margin 14.4% · 100% evidence Valuation 10.0/20 · P/E 909× · PEG n/a · 0% evidence Relative strength 19.1/20 · Lead over its industry 10.3% · Lead over NIFTY 500 3.2% · 1 year -29.3% · 100% evidence · 7 of 12 weeks ahead Exact sum: 15.6 + 5.7 + 10 + 19.1 = 50.4 · What this means: Relative strength against the index is 3.2%, and revenue and profit growth are weak. 2. Avenue Supermarts Ltd this page DMART · quiet · Evidence leans down · 90% evidence 38.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.2/35 · Revenue 16.2% · Profit 14% · Operating margin change 0 points · 100% evidence Capital efficiency 13.4/25 · ROCE 17.2% · Operating margin 7% · 100% evidence Valuation 5.0/20 · P/E 67× · PEG 6.36 · 50% evidence Relative strength 0.0/20 · Lead over its industry -9.2% · Lead over NIFTY 500 -14.8% · 1 year -23% · 100% evidence · 0 of 12 weeks ahead Exact sum: 20.2 + 13.4 + 5 + 0 = 38.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Yamuna Syndicate Ltd](https://www.sectoralpha.in/stocks/yamuna-syndicate-ltd) turning · Most evidence points down · 80% evidence 32.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 13.0/35 · Revenue 11.3% · Profit 2.8% · Operating margin change 1.1 points · 83% evidence Capital efficiency 5.4/25 · ROCE 4.2% · Operating margin 3.5% · 95% evidence Valuation 8.3/20 · P/E 8.1× · PEG n/a · 35% evidence Relative strength 5.9/20 · Lead over its industry -5.5% · Lead over NIFTY 500 -11.6% · 1 year -33% · 100% evidence · 0 of 12 weeks ahead Exact sum: 13 + 5.4 + 8.3 + 5.9 = 32.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Retail - Departmental Stores](https://www.sectoralpha.in/sectors/retail-departmental-stores), all 3 compared on one page. ## Which companies are close to DMart in size? DMart is the largest of 3 Retail - Departmental Stores companies on Sector Alpha by market value (scores of 30 October 2026). It is the largest. Just below it: Shoppers Stop and Yamuna Syndicate. ### Retail - Departmental Stores companies close in size

1. Avenue Supermarts Ltd ₹2,08,674 crore
2. [Shoppers Stop Ltd](https://www.sectoralpha.in/stocks/shoppers-stop-ltd) ₹4,008 crore
3. [Yamuna Syndicate Ltd](https://www.sectoralpha.in/stocks/yamuna-syndicate-ltd) ₹741 crore

[All 3 Retail - Departmental Stores companies, largest first](https://www.sectoralpha.in/sectors/retail-departmental-stores#all-companies)

### Companies close in size in other industries

1. [Hindustan Zinc Ltd](https://www.sectoralpha.in/stocks/hindustan-zinc-ltd) ₹2,13,717 crore · Metals
2. [Tata Steel Ltd](https://www.sectoralpha.in/stocks/tata-steel-ltd) ₹2,09,224 crore · Steel
3. Avenue Supermarts Ltd ₹2,08,674 crore
4. [Grasim Industries Ltd](https://www.sectoralpha.in/stocks/grasim-industries-ltd) ₹2,02,895 crore · Diversified
5. [TVS Motor Company Ltd](https://www.sectoralpha.in/stocks/tvs-motor-company-ltd) ₹1,99,309 crore · Auto - 2 & 3 Wheelers

## What else do people ask about DMart? ### What is DMart's share price today? Avenue Supermarts Ltd's share price is ₹3,414.00, −14.9% over the past year. The whole company is worth ₹2,22,699 Cr on the market. In the last 52 weeks it traded between ₹3,158 to ₹4,630; today it is 17% of the way up from the low, 12.4% below its 200-day average (as of 4 November 2026). ### What were DMart's latest quarterly results? Avenue Supermarts Ltd reported revenue of ₹19,644 Cr and net profit of ₹743 Cr for the Sep 2026 quarter. Revenue rose 17.8% and profit rose 8.5% compared with a year earlier. Earnings per share were ₹11.40. The operating margin was 7.0%, 0.0 percentage points higher than a year earlier (as of 4 November 2026). ### What is DMart's market cap? Avenue Supermarts Ltd's market capitalisation is ₹2,22,699 Cr at a share price of ₹3,414.00. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026). ### What is DMart's P/E ratio? Avenue Supermarts Ltd's P/E is 71.5×, higher than 1% of its own last 10 years. Its usual level (the middle reading) is 116.3×. This compares the price with the company's own past; it is not a view on what the shares are worth (as of 4 November 2026). ### How is DMart valued against its own history? Against its own history, Avenue Supermarts Ltd's valuation is low: its P/E of 71.5× has been lower only 1% of the time in 10 years (usual level 116.3×). This compares the price with the company's own past; it is not a view on what the shares are worth or where the price goes next (as of 4 November 2026). ### How is DMart performing? Avenue Supermarts Ltd's share price has been falling for 11 weeks. In its latest quarter, revenue rose 17.8% and profit rose 8.5% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 5 weeks running (as of 4 November 2026). ### Will DMart's share price go up? This page does not forecast Avenue Supermarts Ltd's share price. What it shows instead: the share price is ₹3,414.00, and it has been falling for 11 weeks. Its P/E of 71.5× is higher than 1% of its own last 10 years (as of 4 November 2026). ### Does DMart have too much debt? No, Avenue Supermarts Ltd has little debt: its debt is 0.10× its equity, and its operating profit is 37 times its interest bill. FY26 borrowings were ₹2,425 Cr against equity of ₹24,464 Cr. So the returns on this page come from the business, not borrowed money (as of 4 November 2026). ### Where is DMart in its business cycle? Avenue Supermarts Ltd's FY26 operating margin was 8.0%, against a 13-year range of 7.0% to 9.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 7.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026). ### What could break the DMart story? The main question: foreign institutions moved −1.5 percentage points over 8 quarters while the business went the other way. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026). ### Is DMart a stock worth studying right now? What the numbers show: Avenue Supermarts Ltd's earnings have grown faster than its share price. Earnings per share grew +9.5% in a year while the price moved −14.9%. The main open question: whether the owners’ moves turn back in line with the business. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026). ### Is there a DMart share price forecast for 2026? What management itself guided: Annual store additions around 15.0% of the opening store base. What is changing at DMart, from the latest results and calls: store rollout acceleration, 85 stores fy26 (record annual), 58 in q4 (record single quarter), sssg recovery, ~10% in january to march 2026 vs 6-7% prior two quarters and organized retail tam expansion, tier-2 city penetration. What would change the story: ROCE 17.1% FY26 vs 20.1% FY23, capital spending expands denominator faster than earnings grow the numerator. ## Lists

- 52 week high & low: https://www.sectoralpha.in/52-week-high-stocks-india

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