DMart

Last updated

Avenue Supermarts Limited
DMart
Company type Public
ISIN INE192R01011
Industry Retail
Genre
Founded15 May 2002;22 years ago (2002-05-15)
Founder Radhakishan Damani
Headquarters Powai,
Mumbai, Maharashtra
,
India
Number of locations
377 (September 2024)
Area served
India
Key people
RevenueIncrease2.svg₹49,533 crore (US$5.8 billion) (2024)
Increase2.svg₹4,099 crore (US$480 million) (2024)
Increase2.svg₹2,695 crore (US$320 million) (2024)
Total assets Increase2.svg₹21,177 crore (US$2.5 billion) (2024)
Number of employees
13,971 permanent and
59,961 contractual (2024)
Website www.dmartindia.com
Footnotes /references
Financials as of 31 March 2024. [1]

Avenue Supermarts Limited, d/b/a DMart, is an Indian retail corporation that operates a chain of supermarkets and hypermarkets. The company was founded by Radhakishan Damani and is based in Mumbai. As of September 2024, DMart has 377 stores across 12 states and union territories in India. [2] [1]

Contents

In March 2024, the company had a total of 13,971 permanent employees and 59,961 employees hired on contractual basis. [1]

History

A DMart store in the suburbs of Udupi. D-Mart.jpg
A DMart store in the suburbs of Udupi.

Incorporated in 2000 by Radhakishan Damani, DMart opened its first store in Powai, Mumbai, in 2002. [3] [4] In its early years, the company adopted everyday low price strategy [4] and pursued "slow expansion", growing to 29 stores across Maharashtra and Gujarat in 2010. Unlike other Indian supermarkets which typically leased 4,000 sq ft properties, DMart operated much larger stores, ranging up to 30,000 sq ft, most of which it owned. [5] [6]

In 2013, DMart reported having 65 stores across Maharashtra and Gujarat, along with one store each in Hyderabad and Bangalore as it began expanding to other states. At the time, DMart became the third largest retail company by revenue, after Reliance Retail and Future Group. [7]

In October 2016, DMart had 112 stores, having expanded to Andhra Pradesh, Karnataka, Chhattisgarh, Madhya Pradesh and Telangana. [8] [9] In December 2016, the company started its e-commerce venture called DMart Ready, allowing users to order groceries and household products online. [10] [11]

The company launched its initial public offering (IPO) in March 2017 and got listed on the National Stock Exchange and Bombay Stock Exchange. On its listing date 22 March 2017, it became the 65th most valuable Indian firm. [12] By 2018, it entered Tamil Nadu, Rajasthan, Punjab, Delhi NCR and Daman. [13]

In 2021, The Ken noted that DMart's newer stores ranged between 50,000 and 60,000 sq ft, nearly twice the average size of its existing stores. [14] In 2022, DMart surpassed 300 stores, with three-fourths located in its cluster-states of Maharashtra, Gujarat, Andhra Pradesh, Karnataka and Telangana. [15] [13]

See also

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References

  1. 1 2 3 "2023-24 Annual Report" (PDF). BSE. Avenue Supermarts Limited. Retrieved 27 July 2024.
  2. ↑ Pinto, Viveat Susan (15 October 2024). "DMart faces pressure from quick commerce as online grocery platforms challenge growth". Financial Express. Retrieved 15 October 2024.
  3. ↑ Dash, Sanchita (13 July 2020). "Radhakishan Damani has a string of challenges ahead of him and falling profits at DMart don't help". Business Insider. Retrieved 15 September 2020.
  4. 1 2 Samar, Srivastava (23 October 2017). "DMart: The Juggernaut Continues To Roll For India's Value Shop". Forbes India. Retrieved 16 January 2023.
  5. ↑ Kamath, Raghavendra (4 June 2010). "Damani's D Mart mulls pan-India footprint". Business Standard. Archived from the original on 11 February 2013. Retrieved 27 July 2024.
  6. ↑ Agarwal, Sapna (2 March 2010). "D-Mart on expansion drive, looks to take leased premises route". Mint. Retrieved 27 July 2024.
  7. ↑ Kamath, Raghavendra (10 July 2013). "D-Mart beats the Goliaths". Business Standard. Retrieved 27 July 2024.
  8. ↑ Kamath, Raghavendra (3 October 2016). "How D-Mart battled the giants". Business Standard. Retrieved 27 July 2024.
  9. ↑ Kamath, Raghavendra (13 September 2016). "D Mart sets sight on Rs 2,000-cr IPO". Business Standard. Retrieved 27 July 2024.
  10. ↑ "Avenue Supermarts to fully acquire e-commerce unit". DNA India. Retrieved 16 January 2023.
  11. ↑ "DMart Ready FY22 revenue sees 2-fold rise at Rs 1,667.21 cr; loss widens to Rs 142.07 cr". Business Today. 26 July 2022. Retrieved 16 January 2023.
  12. ↑ "D-Mart: Will today's winner Radhakishan Damani of D-Mart face these four challenges of tomorrow?". The Economic Times. 23 March 2017. Retrieved 19 July 2018.
  13. 1 2 "Avenue Supermarts (DMART IN)" (PDF). Business Standard. Prabhudas Lilladher. Retrieved 27 July 2024.
  14. ↑ G, Seetharaman (5 October 2021). "DMart and the supersizing imperative". The Ken. Retrieved 8 August 2024.
  15. ↑ "How Radhakishan Damani continues to get it right with DMart". Business Today. 26 December 2022. Retrieved 27 July 2024.
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