How did DMART's operating margin move year-on-year?

Operating margin rose to 8.32% from 8.24% a year ago—a 8 bps improvement. This is modest but steady.

What is the ₹1,000 cr NCD plan about?

The board authorised issuance of non-convertible debentures on a private placement basis. It's an enabling resolution with no binding terms or timeline—adds optionality for future capital needs.

Who are the new COOs and what changed?

Bhaskaran N was re-appointed as Whole-time Director & COO from October 2026. Lalit Ahuja was named COO effective July 13. Parvez Vandrewala transitions from COO to Head - Centre of Excellence from November 1.

Why reclassify Vijay Shankar Chandak from promoter to public?

The move is subject to stock exchange approval. It likely reflects reduced control or strategic intent—cleaner governance, pending regulatory nod.

Earnings · Retailing · Mega cap

DMART's Q1 profit rises to ₹936 cr, operating margin ticks up

Revenue hits ₹18,343 crore; operating margin up 8 bps. Board also clears ₹1,000 crore NCDs and promoter reclassification.

— 3 earlier stories on Avenue Supermarts Ltd. →

DMART By Tipsheet Editorial 11 Jul 2026 · 3:54 PM IST Verify on BSE · NSE

Mkt cap₹2.80 lakh cr

P/E94.30×

ROE12.64%

Debt / eq.0.00

₹936 cr Net profit for June 2026 quarter

What's new

Standalone revenue ₹18,343 cr, net profit ₹936 cr
Operating margin improves to 8.32% from 8.24% YoY
Board authorises NCDs up to ₹1,000 cr; promoter reclassification filed

Why this matters

A routine quarter with incremental margin gains in a hypercompetitive retail landscape. The NCD authorization adds financial flexibility for a zero-debt company, while the promoter reclassification (pending exchange nod) is a governance step. No surprises. What matters is sustaining volume growth.

What we're watching

Whether the NCDs are actually issued and for what purpose
Same-store sales growth in the next concall
Stock exchange decision on promoter reclassification

The full read

DMART's June quarter delivered the expected: revenue of ₹18,343 crore, net profit of ₹936 crore, and an operating margin that inched up 8 bps to 8.32%. Nothing jolts the narrative. The board also authorised ₹1,000 crore NCD issuance—an enabling resolution without immediate execution. Management shuffles and a promoter reclassification are housekeeping. The open question: same-store sales growth, which the filing doesn't reveal.

Questions answered

How did DMART's operating margin move year-on-year?: Operating margin rose to 8.32% from 8.24% a year ago—a 8 bps improvement. This is modest but steady.
What is the ₹1,000 cr NCD plan about?: The board authorised issuance of non-convertible debentures on a private placement basis. It's an enabling resolution with no binding terms or timeline—adds optionality for future capital needs.
Who are the new COOs and what changed?: Bhaskaran N was re-appointed as Whole-time Director & COO from October 2026. Lalit Ahuja was named COO effective July 13. Parvez Vandrewala transitions from COO to Head - Centre of Excellence from November 1.
Why reclassify Vijay Shankar Chandak from promoter to public?: The move is subject to stock exchange approval. It likely reflects reduced control or strategic intent—cleaner governance, pending regulatory nod.

Mentioned: Avenue Supermarts · ₹18,343 cr · ₹936 cr

Primary source BSE · NSE · Tijori

An independent reading of the company's own disclosure — the primary filing above is the final word.

Company snapshot

Avenue Supermarts Ltd.

Retail

₹2.55 L cr

P/E 83.52×

Latest quarter · Jun 2026

Sales₹18,795 cr

Net profit₹860 cr

Op. margin+8.0%

EPS₹13.19

Strength & growth

Debt / equity0.00×

Current ratio2.89×

Sales CAGR+41.0%

EPS CAGR+19.4%

Story so far

All notes on DMART →

11 Jul 2026 · 3:54 PM IST DMART's Q1 profit rises to ₹936 cr, operating margin ticks up
today DMart keeps same-store growth at 8.1% as quick commerce bites
17d ago DMart revenue up 15% in Q1; older metro stores flat
17d ago DMart June-quarter profit surges 48% as revenue climbs 15%