New stores to drive growth for DMart

MARGIN PRESSURE TO REMAIN IN METRO MARKETS

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AVENUE SUPERMARTS (DMART) reported a weak Q4FY25, with standalone Ebitda up just 4% y-o-y—a 9% miss—impacted by a 25bp y-o-y gross margin contraction and a 12% rise in cost of retailing (CoR) per sq. ft. Standalone revenue rose about 17% y-o-y in Q4/FY25, driven by about 14% store area addition and like-for-like (LFL) growth of 8.1%/8.4% in Q4FY25/FY25 (vs. 10.3%/9.9% in Q4FY24/FY24).