Avenue Supermarts Ltd – Q1 FY26 Financial & Business Highlights

• Revenue from operations grew ~16.3% YoY to ~₹16,359.70 crore from ~₹14,069.14 crore in Q1 FY25. • Consolidated net profit (PAT) fell marginally to ~₹772.97 crore, down ~0.1% YoY. • EBITDA was ~₹1,299 crore, up ~6.4% YoY (previously ~₹1,221 crore). • EBITDA margin dropped to ~7.9% from ~8.7% YoY due to competitive intensity and higher costs. • EPS (Basic): ~₹11.88 vs ~₹11.89 last year. • Stores: 9 new stores opened during the quarter, total count 424 as on June 30, 2025. Strengths • Strong top-line growth of ~16% shows steady demand and expansion. • Continuous store expansion improves geographic reach and scale. • Cost discipline and low-cost pricing strategy remain core to business. Challenges • Margins compressed due to inflation in wages, operational costs, and competition. • Gross margin under pressure from deflation in certain staples/non-food items. • Net profit flat YoY despite revenue growth, showing cost pressures. Conclusion DMart delivered strong revenue growth in Q1 FY26, but profitability stayed flat with visible margin pressure. Store expansion is a positive, and the company’s low-cost retail model remains a strength. Near-term results will depend on how effectively costs are managed and margins are restored. For long-term investors, DMart remains an attractive retail play if profitability improves in coming quarters.