DMart FY26: 85 store additions, revenue ₹68,821 crore

FY26 snapshot: faster expansion meets steady revenue growth

Avenue Supermarts Limited, the company behind the DMart retail chain, reported a strong year of expansion in FY26, adding 85 stores, its highest-ever annual addition. The Mumbai-headquartered retailer also highlighted that it crossed the 500-store milestone across India during the year. In its annual financial disclosure, the company reported total revenue of ₹68,821 crore for FY26, alongside net profit of ₹2,970 crore. The update places store rollout back at the centre of the story for India’s organised grocery and value retail space. It also provides context for how DMart is balancing growth in existing stores with a rising pace of new store openings.

Store count milestones: 479 in March, 500 in April

The company’s store network has been expanding across multiple reporting points shared in updates through FY25 and FY26. As of March 2026, DMart had 479 stores spread across 12 states and union territories in India. The company then touched 500 stores across India in April 2026. These milestones are relevant because they frame FY26 as a year where store additions were not incremental, but large enough to shift the chain into a new scale bracket.

Q2 FY26 business update: revenue and store additions

In the July to September quarter of FY26, Avenue Supermarts reported strong topline growth in its business update. Standalone revenue from operations for Q2 FY26 stood at ₹16,218.79 crore, up from ₹14,050.32 crore a year earlier, translating into 15.4% year-on-year growth. For the same quarter, consolidated net revenue rose 15.4% year-on-year to ₹16,676.3 crore. The company’s network stood at 432 DMart stores as of September 30, 2025, and it added eight new stores during the quarter. The company also noted that one store was temporarily closed for reconstruction.

Profitability: Q2 PAT rises, FY26 profit disclosed

The Q2 FY26 results commentary referenced consolidated profit after tax (PAT) rising 4% year-on-year to ₹685 crore. For the full FY26 year, the annual disclosure reported net profit of ₹2,970 crore. These figures help investors separate a fast-growing footprint from near-term quarterly movements in profitability, especially as DMart continues to incur costs related to scaling stores and support infrastructure.

Older stores show a growth revival

One notable operational detail in the Q2 FY26 update was improvement in growth from older stores. The company’s CEO designate, Anshul Asawa, said older DMart stores grew by 6.8% during Q2 FY26 compared with Q2 FY25. For a retailer that relies heavily on high throughput and cost efficiencies, this metric is watched closely as it indicates whether growth is coming only from new stores or also from maturing locations.

What DMart sells most: food and grocery dominate

DMart’s sales mix continued to be anchored in essentials. Food and grocery contributed 57% of total revenue. General merchandise and apparel accounted for 19.7%, while non-food FMCG contributed 20.2%. The mix is important because it indicates the business is still primarily driven by frequent-purchase categories, with discretionary categories playing a smaller but meaningful role.

E-commerce and fulfilment: adding capacity in existing markets

The company also disclosed investments in fulfilment capability. According to Vikram Dasu, whole time director and CEO of Avenue E-Commerce, the company added 10 new fulfilment centres in its existing markets and continued to deepen its presence in large metro cities. Separately, management commentary from the FY25 annual analyst meet noted that DMART Ready is now present in 24 cities, with revenue up 21% year-on-year to ₹3,500 crore in FY25. The same commentary stated PBT losses for DMART Ready at ₹247 crore in FY25 and noted a pivot largely toward a home delivery model.

Expansion pace: quarterly store additions and market reaction

Store additions have been a recurring driver of sentiment around the stock. In one update, Avenue Supermarts opened 8 new DMart stores across multiple states, lifting the store count from 453 to 461. The company also reported that its shares surged over 7% after it announced a store opening in Pathankot and outlined plans to accelerate store additions. Earlier, in Q4 FY25, the company added 28 new stores in the quarter to take the total to 415 as of March 31, 2025. It also stated that between March 21 and March 31 it opened 17 stores across Punjab, Maharashtra, Karnataka, Telangana, Madhya Pradesh, Tamil Nadu, Gujarat, Andhra Pradesh and Rajasthan.

Key numbers table: revenue, profit, stores

Why these updates matter for investors

The FY26 disclosure combines two themes that typically shape how investors read a large-format value retailer: expansion speed and the health of existing stores. The company’s 85-store addition in FY26, along with the 500-store milestone, signals that Avenue Supermarts is scaling the network at a faster pace than in earlier years referenced in business updates. At the same time, the 6.8% growth figure for older stores in Q2 FY26 provides a separate lens into the underlying momentum of the base business. The category mix, with 57% from food and grocery, reinforces DMart’s reliance on essentials-led footfalls.

Conclusion: watch store rollouts and operating updates

Avenue Supermarts’ FY26 numbers show a combination of higher store additions and sustained revenue growth, capped by the chain crossing 500 stores in India. The company has also signalled continued investment in fulfilment capacity and a clearer operating direction for DMART Ready, including its home-delivery pivot. The next set of quarterly updates will be important for tracking how quickly new stores are added after FY26’s 85-store expansion and whether older-store growth remains resilient alongside network growth.