DMart, operated by Avenue Supermarts, witnessed a sharp rise of nearly 3% in its share price after posting strong Q3 FY26 results, lifting investor sentiment despite growing competition and slowing same-store sales growth.
On January 12, 2026, DMart shares traded around ₹3,801–3,918 on the NSE, reflecting cautious optimism in the market. The stock remains well below its 52-week high of ₹4,949, yet comfortably above the yearly low of ₹3,340, giving traders a reason to watch closely.
📊 DMart Q3 FY26 Performance Highlights
For the quarter ending December 2025, DMart reported a 17.6% year-on-year jump in net profit, reaching ₹923.05 crore. Revenue from operations grew 13.3% to ₹18,100.88 crore, supported by better pricing discipline and margin expansion.
Gross margins improved to 14.6%, beating street estimates, while EBITDA margins hit a multi-quarter high. EBIT rose 20% YoY, showing strong operational control. However, same-store sales growth slowed to 5.6%, slightly lower than the previous quarter’s 6.8%, raising mild concerns about demand momentum.
🏦 Brokerage Views Remain Mixed
Brokerages are divided on DMart’s future outlook:
CLSA remains highly bullish, raising its target to ₹6,000, citing a strong business moat and improving consumption.
Jefferies stayed neutral with a ₹4,050 target, acknowledging margin strength but flagging revenue slowdown.
Nuvama maintained a Hold at ₹4,351, noting improved margins due to reduced discounting.
On the bearish side:
Citi, Goldman Sachs, and Morgan Stanley issued Sell/Underweight calls, warning about quick-commerce pressure, demand softness, and expansion risks.\
⚠️ Key Risks to Watch
Rising competition from quick-commerce platforms continues to pressure DMart’s margins and market share. The company has also scaled back its online venture DMart Ready, even as operating and employee costs climb.
With around 426 stores and steady additions of 9–11 stores per quarter, investors are also watching the leadership transition under new CEO Anshul, who brings digital experience at a crucial time.
📌 Market Outlook
DMart shares face resistance near ₹3,900–4,000, while ₹3,700 acts as key support. Despite slowing same-store growth, the strong Q3 beat has temporarily eased margin concerns. Future performance will depend on store expansion, digital strategy, and consumption trends in emerging regions.
Disclaimer: Yeh views market experts ke hain and not of trueincome. Investment karne se pehle certified advisor se consult zaroor karein.
