Home Stock list D-Mart Market Cap Exceeds Rs 3 Trillion, 70% Sourcing By 2021

D-Mart Market Cap Exceeds Rs 3 Trillion, 70% Sourcing By 2021

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The owner of the D-Mart hypermarket chain, Avenue Supermarts, entered the list of the 15 most valued companies by market capitalization as its capitalization hit the 3 trillion rupee mark on Monday when its shares hit a new record of 4,800 before closing. at Rs 4,716. The share jumped more than 70% in 2021.
On October 11, Avenue Supermarts rose 7.06% to end at a record high of Rs 4,719.60, with a market cap of Rs 3.05,710.79 crore. It is now the 15th most valued company by market capitalization, after Asian Paints, HCL Technologies, Wipro and Kotak Mahindra Bank, Bharti Airtel, SBI, Bajaj Finance, ICICI Bank, HDFC, HUL, Infosys and HDFC Bank.
Established in 2002, DMart experienced strong double-digit growth in sales and profits between fiscal 2009 and fiscal year 20. Fiscal year 21 was affected due to the pandemic. DMart’s revenue grew 46% year-on-year in the second quarter of fiscal 2022 to Rs 7,649.64 crore from Rs 5,218.15 crore a year ago with a 90% recovery from pre-covid.
D’Mart sales rose 123% in Mumbai and have now forayed into Ahmedabad, Pune, Bangalore, Hyderabad and Faridabad. Its e-commerce business will be developed rapidly once the Mumbai model becomes profitable. During the September quarter, it added eight stores, bringing the total number of stores to 246. It is currently present in 11 states and 1 union territory.
“High inflationary trends allow value retailers like D’Mart to deliver increased value to customers and gain share in general commerce that is focused on convenience. We expect inflation to drive value. average bills to remain high compared to the pre-covid period with standardization of bill reductions as restrictions
facility with strong medium-term growth potential, ”brokerage firm Prabhudas Lilladher said in a note.
In August 2021, Radhakishan S Damani, the promoter of the supermarket chain DMart, also entered the list of the world’s top 100 billionaires. Damani is now ranked 98th on the Bloomberg Billionaires Index with $ 24.68 as net worth.


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