Financials Avenue Supermarts Limited

Equities

DMART

INE192R01011

Food Retail & Distribution

Market Closed - NSE India S.E. 07:43:48 2024-05-07 am EDT 5-day change 1st Jan Change
4,660 INR +1.30% Intraday chart for Avenue Supermarts Limited +1.23% +14.15%

Valuation

Fiscal Period: März 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 918,091 1,417,007 1,852,020 2,593,269 2,204,778 3,032,709 - -
Enterprise Value (EV) 1 920,198 1,418,920 1,841,492 2,590,283 2,190,695 2,944,958 3,008,896 2,990,034
P/E ratio 103 x 106 x 170 x 175 x 93.2 x 116 x 91.8 x 73.2 x
Yield - - - - - - - 0.01%
Capitalization / Revenue 4.59 x 5.7 x 7.67 x 8.37 x 5.15 x 5.8 x 4.94 x 4.09 x
EV / Revenue 4.6 x 5.71 x 7.63 x 8.36 x 5.11 x 5.8 x 4.9 x 4.04 x
EV / EBITDA 56.3 x 66.7 x 106 x 104 x 60.2 x 71.8 x 58.2 x 46.4 x
EV / FCF -151 x -328 x -281 x -250 x 517 x 461 x 397 x 236 x
FCF Yield -0.66% -0.3% -0.36% -0.4% 0.19% 0.22% 0.25% 0.42%
Price to Book 16.4 x 12.5 x 15.2 x 19 x 13.7 x 16.1 x 13.8 x 11.6 x
Nbr of stocks (in thousands) 624,084 647,775 647,775 647,775 648,264 650,733 - -
Reference price 2 1,471 2,188 2,859 4,003 3,401 4,660 4,660 4,660
Announcement Date 5/11/19 5/23/20 5/8/21 5/14/22 5/13/23 5/4/24 - -
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: März 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 200,045 248,702 241,431 309,763 428,396 507,888 613,580 740,763
EBITDA 1 16,333 21,280 17,430 24,990 36,370 41,038 51,733 64,508
EBIT 1 14,208 17,539 13,289 20,004 29,982 33,730 43,444 54,999
Operating Margin 7.1% 7.05% 5.5% 6.46% 7% 6.64% 7.08% 7.42%
Earnings before Tax (EBT) 1 14,219 17,448 14,834 20,641 30,601 34,613 44,309 55,255
Net income 1 9,025 13,011 10,995 14,926 23,785 25,274 32,855 41,031
Net margin 4.51% 5.23% 4.55% 4.82% 5.55% 4.98% 5.35% 5.54%
EPS 2 14.26 20.55 16.85 22.86 36.49 38.93 50.75 63.68
Free Cash Flow 1 -6,100 -4,320 -6,543 -10,381 4,238 6,540 7,577 12,674
FCF margin -3.05% -1.74% -2.71% -3.35% 0.99% 1.29% 1.23% 1.71%
FCF Conversion (EBITDA) - - - - 11.65% 15.79% 14.65% 19.65%
FCF Conversion (Net income) - - - - 17.82% 25.22% 23.06% 30.89%
Dividend per Share 2 - - - - - - - 0.3440
Announcement Date 5/11/19 5/23/20 5/8/21 5/14/22 5/13/23 5/4/24 - -
1INR in Million2INR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 75,420 74,117 51,831 77,889 92,178 87,864 100,381 106,383 115,690 105,941 118,654 124,127 134,541 125,104 -
EBITDA 1 6,890 6,130 2,240 6,690 8,660 7,390 10,082 8,920 9,653 7,715 10,353 10,339 11,413 9,618 -
EBIT 1 5,754 - - - - 5,930 - 7,301 7,972 6,074 8,731 8,417 9,524 7,365 -
Operating Margin 7.63% - - - - 6.75% - 6.86% 6.89% 5.73% 7.36% 6.78% 7.08% 5.89% -
Earnings before Tax (EBT) 1 6,094 5,436 1,374 5,677 7,502 6,089 8,754 7,480 8,118 6,250 8,973 8,796 9,794 7,983 -
Net income 1 4,470 4,139 953.7 4,178 5,526 4,268 6,429 6,858 5,897 4,601 6,588 6,627 7,394 6,021 -
Net margin 5.93% 5.58% 1.84% 5.36% 5.99% 4.86% 6.4% 6.45% 5.1% 4.34% 5.55% 5.34% 5.5% 4.81% -
EPS 2 6.850 6.340 - 6.450 8.460 6.540 9.850 10.50 9.030 7.060 10.12 10.61 11.50 8.871 -
Dividend per Share 2 - - - - - - - - - - - - - - -
Announcement Date 1/9/21 5/8/21 7/10/21 10/16/21 1/8/22 5/14/22 7/9/22 10/15/22 1/14/23 5/13/23 7/15/23 - - - -
1INR in Million2INR
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 2,108 1,913 - - - - - -
Net Cash position 1 - - 10,529 2,986 14,083 20,593 23,812 42,674
Leverage (Debt/EBITDA) 0.129 x 0.0899 x - - - - - -
Free Cash Flow 1 -6,100 -4,320 -6,543 -10,381 4,238 6,541 7,577 12,674
ROE (net income / shareholders' equity) 17.6% 15.6% 9.45% 11.5% 16% 15.1% 16.2% 17.6%
ROA (Net income/ Total Assets) 14.3% 13.6% 8.55% 10.2% 14.2% 13.6% 14.5% 15.7%
Assets 1 63,265 95,411 128,662 145,643 167,894 190,949 226,913 262,177
Book Value Per Share 2 89.50 175.0 188.0 211.0 248.0 289.0 338.0 403.0
Cash Flow per Share 2 -9.770 20.20 21.10 21.20 40.40 48.50 64.20 73.10
Capex 1 14,168 17,122 20,294 24,104 22,120 23,623 27,134 30,278
Capex / Sales 7.08% 6.88% 8.41% 7.78% 5.16% 4.66% 4.42% 4.09%
Announcement Date 5/11/19 5/23/20 5/8/21 5/14/22 5/13/23 5/4/24 - -
1INR in Million2INR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
25
Last Close Price
4,660 INR
Average target price
4,541 INR
Spread / Average Target
-2.56%
Consensus
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