Avenue Supermarts hisseleri Q2 sonuçları sonrası düşüş kaydetti; analistler hangi noktaları işaret ediyor

Kısaca

DMart’in net kârı yıllık yüzde 8,5 artışla 743 crore olarak açıklandı; yıl içi satışlar yüzde 17,8 arttı ve toplam gelir 19.644 crore oldu EBITDA marjı 7,1%’e geriledi; PAT marjı 3,8% oldu Motilal Oswal hedef fiyatı 3.925 Rs, Nuvama ise hedefi 3.784 Rs’e düşürdü; hisseler yaklaşık yüzde 3,3 değer kaybetti

Ana mesele

Avenue Supermarts hisseleri, Q2 net kârı ve marjlarındaki değişim nedeniyle düşüş yaşadı

Ne değişti?

Gelir büyümesi sürerken kârlılık oranlarında daralma dikkat çekti

Beni nasıl etkiler?

Okuyucular için hisse davranışını etkileyebilecek kısa vadeli yönlendirmeler ortaya konuldu

Ne oldu?

Avenue Supermarts, FY27’nin ikinci çeyreğinde konsolide net kara 743 crore kaydetti; gelir 19.644 crore olarak gerçekleşti ve hisse değeri düşüş gösterdi.

Neden şimdi?

Gider baskıları ve personel enflasyonu nedeniyle marjlar daraldı; bu, yatırımcı güvenini etkiledi.

Neden önemli?

Perakende sektörü için karlılık dinamikleri kısa vadede baskılanabilir; yatırımcılar hedef fiyat ve büyüme beklentilerini yeniden değerlendirecek.

Kimler etkileniyor?

• Yatırımcılar
• Brokeraj analistleri

Sektör ve piyasa etkisi

İhracat ve tüketici harcamalarıyla ilişkili perakende hisseleri üzerinde baskı potansiyeli

Riskler

• Geniş maliyet baskıları
• Yoğun rekabet ortamı
• Kısa vadede satış hacmindeki dalgalanmalar

Takip edilmesi gerekenler

• Marj giderlerinin seyri
• Yeni mağaza açılışlarının maliyet etkisi
• Hisselerin kısa vadeli hareketleri ve hedef fiyat revizyonları

Haberin tamamı

Shares of supermarts major Avenue Supermarts, the operator of DMart, fell as much as 3.3% to their day’s low of Rs 3,405 on the BSE on Monday after it reported an 8.5% year-on-year (YoY) increase in consolidated net profit to Rs 743 crore for the second quarter of FY27, compared with Rs 685 crore in the year-ago period.The company, promoted by investor Radhakishan Damani, reported consolidated total revenue of Rs 19,644 crore for the quarter ended September 30, 2026, marking a 17.8% YoY increase from Rs 16,676 crore in Q2FY26.However, the EBITDA margin declined to 7.1% in Q2FY27 from 7.3% in Q2FY26, a contraction of 0.2 percentage points.

The profit after tax (PAT) margin also fell to 3.8% from 4.1%, down 0.3 percentage points.Buy, sell or hold DMart shares?Motilal Oswal has a Neutral rating on the stock, and a target price of Rs 3,925, an upside of 12% from current market levels.

“While the QC dent remains concentrated in dense metro catchments for now, we believe overall discounting and customer acquisition intensity are unlikely to moderate in the near term and could weigh on DMART’s growth and margins over the medium term,” the brokerage said.Nuvama Institutional Equities has cut its target price for DMart to Rs 3,784 from Rs 4,174, while maintaining a Hold rating.

EBITDA margin contracted 28 basis points (bps) YoY due to higher wage inflation and other expenses, reversing the improvement seen over the past three quarters. DMart added 18 stores in H1FY27, taking its total store network to 518.DMart Ready’s revenue declined 4%, while its losses stood at Rs 60.6 crore during the quarter. Working capital metrics remained elevated, which the brokerage attributed to festive stocking.

Nuvama has revised its FY27E and FY28E revenue estimates upwards by 0.3% and 0.7%, respectively, while cutting its PAT estimates by 5.7% and 9.8%, respectively.Disclaimer: This article has been written by Veer Sharma, who is not a SEBI-registered Research Analyst or an Investment Adviser. Veer Sharma and his/her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication.

The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here.

Kaynaklar

• Economic Times - Markets