Avenue Supermarts Q3 Earnings: Growth Slows, Margins Under Pressure; D-Mart Ready in Focus

• Avenue Supermarts (D-Mart) to announce Q3FY26 earnings on January 10, with Street cautious on growth and margins.
• Q3FY26 standalone revenue grew 13% year-on-year to ₹17,612 crore, but below three-year CAGR and store addition pace, implying negative same-store sales growth.
• 10 new stores added in Q3, but GST rate cuts on staples likely pressured average realisations, impacting revenue despite steady volumes.
• EBITDA growth expected at 8-9% against 13% revenue growth, indicating margin compression due to competition, price-led demand, and changing assortment.
• D-Mart Ready (online arm) could add ₹250–300 crore in revenue, but its profitability impact is uncertain due to lower online retail margins.

Why It Matters: Avenue Supermarts faces slowing growth and margin pressure in Q3FY26, with D-Mart Ready's impact crucial.