D-Mart Q4 Results FY26: Revenue Surges 19%, PAT at ₹725 Crore, Company Crosses Historic 500-Store Mark
By Kaushik Brahmakshatriya
Published On 03 May 2026.
D-Mart Q4 FY26 Results — Quick Overview
Avenue Supermarts Limited, the parent company of India’s most trusted retail chain D-Mart, declared its Q4 FY26 results on May 2, 2026. The numbers came in strong — beating analyst expectations on revenue, clocking solid profit growth, and marking one of the most significant expansion milestones in the company’s history.
The company reported a 19% increase in total revenue to ₹17,205 crore for the quarter ended March 31, 2026, compared with ₹14,462 crore in the same period of the previous year. (APAC News Network) Profit after tax also posted healthy double-digit growth, reflecting the resilience of D-Mart’s value-retail model.
D-Mart Q4 FY26 Key Financial Highlights
Here is a quick snapshot of the most important numbers from the Q4 FY26 results:
| Metric | Q4 FY26 | Q4 FY25 | YoY Change |
| Revenue (Standalone) | ₹17,205 Cr | ₹14,462 Cr+19% | +19% |
| PAT (Standalone) | ₹725 Cr | ₹620 Cr | +16.9% |
| EBITDA | ₹1,231 Cr | ₹981 Cr | +25.5% |
| EBITDA Margin | 7.2% | 6.8% | +40 bps |
| Basic EPS | ₹11.13 | ₹9.52 | +16.9% |
| Total Stores | 500 | 365 | +135 stores |
D-Mart’s EBITDA for Q4 FY26 rose to ₹1,231 crore from ₹981 crore in the year-ago quarter, while the EBITDA margin improved to 7.2% from 6.8% in Q4 FY25. Basic EPS for Q4 FY26 stood at ₹11.13, compared with ₹9.52 in the corresponding quarter of the previous year.
Historic Milestone — D-Mart Crosses 500 Stores
The biggest headline from this quarter is not just the numbers — it is the landmark achievement of 500 DMart stores across India.
CEO Anshul Asawa stated: “We opened 58 new stores during the quarter and also reached the landmark achievement of 500 DMart stores. This was made possible by the dedication of our employees and the trust our customers have placed in us every single day.”
DMart added 58 stores in Q4 alone — the highest single-quarter addition in the company’s history. Full-year additions for FY26 totalled 85, also an annual record.
New stores came up across Maharashtra, Tamil Nadu, Uttar Pradesh, Haryana, Gujarat, Odisha, and Chhattisgarh. The strong focus on Tier-2 and Tier-3 cities signals D-Mart’s long-term strategy to deepen its presence in India’s heartland.
Interestingly, 12 of those 58 stores were opened on March 31 alone, pushing the chain over the 500-store mark on the very last day of the fiscal year — meaning a significant portion of Q4’s new openings contributed almost nothing to Q4 revenue and represent a deferred tailwind for Q1 FY27.
Mature Store Growth Accelerates
One of the most encouraging signs in this quarter’s result is the acceleration in same-store sales growth (SSSG) — a critical metric that shows how existing stores are performing.
Two-year-old and older DMart stores grew by 10.8% during Q4 FY26, compared to 8.1% in Q4 FY25. This shows that D-Mart’s core retail engine is genuinely picking up pace, not just being boosted by new store openings. It is a sign of improving consumer sentiment and stronger footfall at established locations.
Full Year FY26 Performance — D-Mart’s Best Year Yet?
It was not just a strong quarter — the entire financial year FY26 delivered solid performance.
DMart reported a strong full-year performance for FY26, with total revenue rising 15.9% year-on-year to ₹66,968 crore. EBITDA grew 15.7% to ₹5,255 crore, while profit after tax increased 10.1% to ₹3,224 crore. Basic EPS for the year stood at ₹49.54, up from ₹44.98 in FY25.
On a consolidated basis, the company reported total revenue of ₹68,821 crore for FY26, up from ₹59,358 crore in the previous year.
D-Mart Ready (E-Commerce) Update
As of March 31, 2026, DMart Ready — its online grocery delivery service — operates in 18 cities. While the brick-and-mortar stores remain the primary growth driver, the e-commerce arm continues its steady expansion, helping the company defend its ground against quick commerce rivals like Blinkit, Zepto, and Swiggy Instamart.
As of March 31, 2026, DMart Ready — its online grocery delivery service — operates in 18 cities. While the brick-and-mortar stores remain the primary growth driver, the e-commerce arm continues its steady expansion, helping the company defend its ground against quick commerce rivals like Blinkit, Zepto, and Swiggy Instamart.
What Analysts Are Saying About DMART Stock
The results have divided the analyst community. Analysts’ 12-month price targets for Avenue Supermarts range from ₹4,500 to ₹5,200, with some reaching ₹6,000, suggesting potential upside. However, some analysts maintain a ‘Hold’ rating, citing upcoming challenges that could affect performance.
At ~99x trailing earnings, the stock prices in a great deal of future success. The quarter delivered — but whether the quarters ahead can sustain that, and at what cost to the balance sheet, is the question that will define the stock’s next move.
D-Mart did not declare any dividend for Q4 FY26 — in line with its historical practice of retaining profits for expansion.
D-Mart’s Competitive Edge in Indian Retail
D-Mart’s business model continues to be one of the most defensible in Indian listed retail. The company follows an “Everyday Low Cost – Everyday Low Price” strategy, focusing on competitive procurement, operational efficiency, and cost-effective distribution. Unlike most competitors,
D-Mart owns most of its store properties, which gives it a significant cost advantage over lease-dependent peers.
Rising competition from quick commerce platforms remains a key monitorable — but D-Mart’s stronghold in groceries, FMCG, and general merchandise continues to attract value-conscious Indian shoppers in large numbers.
D-Mart Q4 FY26 Results — Key Takeaways
✅ Revenue up 19% YoY to ₹17,205 crore — beat analyst estimates
✅ PAT up 16.9% to ₹725 crore
✅ EBITDA margin improved to 7.2% from 6.8%
✅ 500 stores milestone crossed — record 58 new stores in a single quarter
✅ Mature store growth accelerated to 10.8% from 8.1%
✅ FY26 full year revenue at ₹66,968 crore, PAT at ₹3,224 crore
⚠️ No dividend declared
⚠️ Quick commerce competition remains a key risk to watch
FAQs — D-Mart Q4 Results FY26
Q1. What was D-Mart’s revenue in Q4 FY26?
D-Mart (Avenue Supermarts) reported standalone revenue of ₹17,205 crore in Q4 FY26, a 19% increase year-on-year.
Q2. What was D-Mart’s net profit in Q4 FY26?The company’s PAT (Profit After Tax) stood at ₹725 crore in Q4 FY26, up 16.9% from ₹620 crore in Q4 FY25.
Q3. How many stores does D-Mart have in 2026?
As of March 31, 2026, D-Mart operates 500 stores across India — a historic milestone achieved in Q4 FY26.
Q4. Did D-Mart declare a dividend in Q4 FY26?No. Avenue Supermarts did not declare any dividend along with its Q4 FY26 results.
Q5. What is D-Mart’s full year FY26 revenue?
D-Mart’s total standalone revenue for FY26 was ₹66,968 crore, reflecting a 15.9% increase over FY25.
Q6. What is the analyst target price for DMART share?
Analyst 12-month price targets range from ₹4,500 to ₹5,200, with some bullish estimates reaching ₹6,000. Some brokerages maintain a Hold rating.
Disclaimer :
This blog does not provide financial, investment, or trading advice. All content is for educational and informational purposes only. Please consult a certified financial advisor before making any investment decisions. The author will not be responsible for any financial losses incurred
