DMart shares surged over 8% on Wednesday after the company announced its store count reached 500 following rapid expansion. According to ETMarkets.com, the stock rallied 8.5% to ₹4,294.80 per share, gaining around 11% in the past one month and 15% in 2026 so far. The latest milestone came after 12 new store openings on Tuesday across multiple locations, with the company opening stores in Maharashtra, Tamil Nadu, Uttar Pradesh, Haryana, Gujarat, Odisha, and Chhattisgarh. This achievement represents a significant milestone for the supermarket chain, which has demonstrated consistent expansion momentum throughout FY26.
The company reported strong financial results for Q3FY26, with consolidated profit after tax (PAT) rising 18% year-on-year to ₹856 crore compared to ₹724 crore in the same period last year. As reported by ETMarkets.com, revenue from operations grew 13% YoY to ₹18,101 crore during the quarter, up from ₹15,972 crore in Q3 FY25. EBITDA stood at ₹1,463 crore, up from ₹1,217 crore in Q3 FY25, with the EBITDA margin improving to 8.1%, compared to 7.6% in the same period last year. The company's steady earnings growth and improving margins continue to support investor confidence in the retail expansion strategy.
DMart demonstrated exceptional expansion momentum with 29 new store openings and 6 closures during the March quarter, bringing its total store count to 577 as of March 31, 2026. According to the company's exchange filing, FY26 marked its highest-ever store additions with 92 store openings and 12 closures during the year. The latest store additions were strategically spread across multiple states, with 11 stores in Uttar Pradesh, 4 in Tamil Nadu, and 3 each in Bihar and West Bengal. The company's focus on value retailing in Tier II and III cities is yielding strong results, with the aggressive expansion strategy aimed at capturing a larger share of the organized retail market in smaller towns.
Brokerages remain bullish on DMart's prospects, with CLSA maintaining its 'high conviction outperform' rating on the stock. As reported by CNBC-TV18, CLSA has set a target price of ₹6,185 per share, implying an upside potential of more than 56% from the stock's previous closing price. The stock has delivered solid gains across multiple timeframes, gaining over 25% in three years and more than 46% in five years. Despite recent positive developments, investors should note that DMart has faced past penalties for labor law compliance and alleged minimum wage violations, as well as fines for non-compliance with SEBI listing regulations and income tax assessments.
