“D-Mart’s Q2 revenue hits record high — but is the stock still a safe bet?”

📊 Q2 FY26 Highlights - Revenue: ₹16,218.79 crore, up 15.4% YoY, marking the highest Q2 revenue in four years. - Store Count: Expanded to 432 stores, with continued focus on Northern India. - Board Meeting: Scheduled for October 11, 2025, to approve full financial results. 🔍 Investor Watchouts - Profitability Concerns: Despite strong topline growth, Nuvama Wealth Management revised profit estimates downward by 6.6% for FY26 and 3.6% for FY27. - Revenue Estimate Cuts: FY26 and FY27 revenue estimates were trimmed by 0.8% and 1.7%, respectively. - Valuation Sensitivity: The stock trades at premium valuations, and any margin compression or slower growth could impact sentiment. 📈 Stock Impact & Brokerage Views - Target Price Revision: Nuvama raised its target price slightly to ₹4,580 from ₹4,544, implying a 6% upside from current levels. - Rating: Maintained ‘Hold’ stance, indicating cautious optimism. - Market Reaction: The stock showed marginal movement post-results, reflecting mixed investor sentiment. 🧠 Strategic Takeaways for Investors - Growth Story Intact: D-Mart continues to expand and maintain strong revenue momentum. - Margin Monitoring: Investors should closely track operating margins and cost pressures in upcoming quarters. - Long-Term View: For long-term investors, D-Mart remains a dominant player in Indian retail, but entry points should be evaluated carefully given valuation and earnings visibility.