DMART

DMart Q3FY26 Results: Strong Beat with 18% PAT Growth & Margin Expansion Standalone Financials - Revenue ₹17,613 Cr (+13% YoY, +9% QoQ); biggest EBITDA growth in 6+ quarters. - EBITDA ₹1,482 Cr (+20% YoY/QoQ); margin jumps to 8.41% (+48 bps YoY, +83 bps QoQ). - PAT ₹923 Cr (+18% YoY, +24% QoQ); EPS ₹14.19 (+18% YoY). - 9M FY26 revenue ₹49,764 Cr (+15% YoY); PAT ₹2,499 Cr (+8% YoY). Leadership Transition - MD & CEO Ignatius Noronha steps down Jan 31 post tenure completion. - Anshul Asawa (ex-Unilever, IIT/IIM alum) appointed CEO Feb 1, MD Apr 1 (3-yr term). - 4 senior executives elevated to management: FMCG, Merchandising, Apparels, IR heads. Operational Metrics - 442 stores; LFL sales +5.6% (Q3); 18.3 Cr bills cut. - Revenue/sq ft ₹9,290; DMart Ready live in 19 cities, expanding to 25. - Staples deflation partially impacted revenue growth per new CEO. Key Takeaway: Exceptional Q3 execution with margin leverage beats estimates, complemented by smooth leadership transition and store expansion momentum.