Avenue Supermarts (DMart) posted better-than-expected 18.4% top line growth but muted H1 store additions, with stock falling 5% as CLSA maintained outperform while Citi maintained sell

Mon 5 Oct 2026

Revenue growth

18.4 percent

Total store count

518 stores

CLSA target price

5723 rupees

Citi target price

3300 rupees

Stock move today

down 5 percent

Heard on business television between 12:17:30 - 12:20:30 IST.

• Revenue growth came in at 18.4%, better than street expectations.
• Total store count stood at 518 as of September, reflecting muted store additions in H1.
• CLSA maintained high conviction outperform rating with target price of 5,723 rupees, citing private label store growth and inflation as growth drivers.
• Citi maintained sell rating with target price of 3,300 rupees, saying Q2 revenue was largely in line but remained cautious on expensive valuations.
• Stock fell about 5% on the update.

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