Avenue Supermarts (DMart) posted 18% topline growth, beating street estimates, but the stock fell ~5.5% as store additions disappointed

Mon 5 Oct 2026

Revenue growth

18 percent

Total stores as of Sep 30

518 stores

CLSA target price

5723 rupees

Citi target price

3300 rupees

Stock move today

5.5 percent down

Heard on business television between 12:54:32 - 12:57:32 IST.

• Topline growth of 18% was better than street expectations.
• Street was unhappy with muted store additions in H1; total stores at September 30 stood at around 518.
• Analysts will watch store additions in H2; Q3 festive season could help.
• CLSA maintained high conviction outperform with target price of 5723, citing private labels pivot, store growth and inflation as drivers.
• Citi maintained sell with target price of 3300, citing in-line revenue but cautious on expensive valuations.
• Another analyst (Narendra) cited high valuations, moderating same-store sales, deceleration in sales per square foot, sluggish store additions and quick commerce competition as reasons for weak performance, expecting pressure for one-two more quarters.

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