Page 3 - D-mart

The other D of D-Mart and the cloak of reclusiveness

The Initial Public Offer (IPO) prospectus of Avenue Supermarkets, parent of the D-Mart retail chain, does not mention his name. But, when the D-Mart brand was a toddler, it had not one but two Ds holding its hands. One was Radhakishan Damani, ace stock market investor and promoter of Avenue, along with a host of family members and group entities. However, back in the 1990s, he was not a high priest of organised retailing. That was where the other D came in. Damodar Mall, then in his 30s, had an ideal career. With an IIT/IIM education and a Hindustan Unilever job, his life was set. But, he had other ideas. In a recent blog, in an extract from his book, Supermarketwala: Secrets of winning Consumer India, Mall, now chief executive, grocery at Reliance Retail, explains the D-Mart story. He talks about the early days in Navi Mumbai, when the first store started in 1999 ...

In D-Mart shopping cart, valuations look justified

In a sector where companies are struggling to generate consistent profits, Avenue Supermarts is an outlier. The company, which runs India's most profitable supermarket chain under the D-Mart brand, has reported net profits that have grown in each of the last five financial years going back to FY2012. If one were to annualise the reported net profit for nine months of FY17, it is well on its way to topping the Rs 500 crore mark for the fiscal. A consistent track record of profitability, a strong management team and an obsession with keeping costs to the minimum is the best medicine to keep profits rolling going ahead. Retail investors can subscribe to the issue.At the lower end of the price band, the company is asking for 35 times its FY17 annualised net profit on a post issue equity base. While this is at a slight premium to Future Retail (34.2 times FY17 earnings), it is justified given that Future's FY17 estimated revenues are 60 per cent more while its net profit is 35 per cent ...

Chain set to become highest valued listed retailer

D-Mart's parent Avenue, Supermarts, said it was raising Rs 1,870 cr through its initial public issue

No promoter in driver's seat at D-Mart

Company's Rs 1870-crore IPO will open on March 8 and close on March 10

How D-Mart battled the giants

The chain has managed to keep online and offline challengers at bay, staying in the black even as other big groups have faltered

D Mart to add 60% more store space

To build 900,000-sq ft store space by FY20

D-Mart files offer document for Rs 1,870-cr IPO

The issue proceeds will be utilised for repayment of loans, construction of new stores and general corporate purposes

D Mart sets sight on Rs 2,000-cr IPO

Appoints former Sebi chief C B Bhave on board