DMart Share Price in Focus as Brokerages Weigh Growth Revival After Q1 FY27 Results Amid Rising Competition

The DMart share price is in focus on Monday, 13 July 2026, as brokerages assess whether the retailer can revive growth after its Q1 FY27 results. Avenue Supermarts, which operates the DMart chain, reported an 11.3 percent rise in consolidated net profit, with revenue from operations up 14.8 percent to Rs 18,794.53 crore for the June quarter.

The company flagged that revenue from older stores in large metro cities remained largely flat, while non-metro stores continued to perform relatively well. With quick-commerce competition intensifying in metros, the street is split on how quickly the DMart share price can re-rate from current levels.

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DMart Q1 FY27 Results: Key Financial Highlights

The June quarter print was steady on profitability but confirmed the growth moderation that the business update had signalled earlier this month.

Metric	Q1 FY27	Q1 FY26 / Comment
Consolidated revenue	Rs 18,794.53 crore	+14.8% YoY
Consolidated net profit	Up 11.3% YoY	Standalone PAT Rs 936 crore
EBITDA	Rs 1,499 crore	Rs 1,299 crore in Q1 FY26
EBITDA margin	8.0%	7.9% in Q1 FY26
Store additions	3 stores	Total 503 stores
Like-for-like growth	5.5%	Older metro stores flat

Management said growth in older metro stores, which have significantly higher revenue per square foot, was flat during the quarter. The e-commerce arm discontinued operations in seven marginal cities and now operates DMart Ready in 11 cities. The board also approved raising up to Rs 1,000 crore through non-convertible debentures.

Brokerage Views on the DMart Share Price After Q1

Emkay Global: Sell, Target Rs 3,700

Emkay maintained a sell rating with a DMart share price target of Rs 3,700, citing slower growth in bill size and a likely slower ramp-up in new store additions. The brokerage noted that like-for-like growth normalised to 5.5 percent in Q1 after a strong Q4, though the revenue mix improved with 19 percent growth in general merchandise and apparel, driving a 50 basis point gross margin gain.

Motilal Oswal: Hold, Target Rs 4,383

Motilal Oswal maintained a hold rating and trimmed its target to Rs 4,383 from Rs 4,974. It highlighted that DMart Ready’s growth proxy slowed sharply to 5.5 percent in Q1 FY27 from 20 percent a year earlier, with losses widening to Rs 75.3 crore, and flagged that the pace of store additions, at just three in the quarter, remains the key growth lever for the DMart share price.

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What Is Weighing on the DMart Share Price

Three concerns dominate the bear case. First, flat growth in mature metro stores suggests quick-commerce platforms are eating into urban grocery baskets. Second, premium valuations leave little room for earnings disappointment, and analysts have flagged de-rating risk. Third, moderating store additions slow the compounding engine that has historically driven the DMart share price.

The bulls counter that non-metro stores are growing well, margins expanded despite competitive intensity, and standalone profit of Rs 936 crore beat estimates. A pickup in store openings through FY27 could quickly change the growth narrative and lift the DMart share price back towards the upper end of brokerage targets. The consensus 12-month view on the DMart share price currently clusters around Rs 4,500, implying moderate upside if execution holds.

What Should Investors Watch Next

The DMart share price closed at Rs 4,081.10 on the BSE ahead of the results, and Monday’s session will show how the market weighs the beat on profit against the soft metro commentary. Investors should track monthly store additions, like-for-like growth trends, DMart Ready’s losses after the city rationalisation, and any commentary on pricing intensity versus quick-commerce players.

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Conclusion

DMart’s Q1 FY27 results delivered steady profitability, with net profit up 11.3 percent and EBITDA margin improving to 8 percent, but flat metro store growth keeps the debate on the DMart share price alive. With Emkay at Rs 3,700 and Motilal Oswal at Rs 4,383, the street’s target range is wide, and store expansion will decide which view wins. Investors should align exposure with their horizon and consult a SEBI-registered advisor.

Frequently Asked Questions FAQs

Why is the DMart share price in focus today?

Ans. The DMart share price is in focus because Avenue Supermarts reported Q1 FY27 results with consolidated net profit up 11.3 percent and revenue up 14.8 percent to Rs 18,794.53 crore, while flagging flat growth in older metro stores.

What were DMart Q1 FY27 results?

Ans. In Q1 FY27, DMart reported consolidated revenue of Rs 18,794.53 crore, up 14.8 percent YoY, EBITDA of Rs 1,499 crore with an 8 percent margin, and standalone net profit of Rs 936 crore. The company added 3 stores, taking the total to 503.

What are brokerage targets for the DMart share price?

Ans. Emkay Global has a sell rating with a target of Rs 3,700, while Motilal Oswal has a hold rating with a revised target of Rs 4,383, cut from Rs 4,974 earlier.

Why are analysts cautious on DMart?

Ans. Analysts are cautious because revenue from older stores in large metros was flat, like-for-like growth normalised to 5.5 percent, store additions slowed to three in the quarter, and quick-commerce competition is intensifying.

What is happening with DMart Ready?

Ans. DMart Ready, the e-commerce arm, discontinued operations in seven marginal cities and now operates in 11 cities. Its growth proxy slowed to 5.5 percent in Q1 FY27 while losses widened to Rs 75.3 crore.

Is DMart a good stock to buy after Q1 FY27 results?

Ans. DMart delivered a profit beat with improving margins, but flat metro growth and premium valuations divide the street. Investors should weigh the wide brokerage target range and consult a SEBI-registered investment advisor before buying.