New Delhi: The owner of the D-Mart Chain Hypermarket, Avenue Supermarts, has entered the list of the top 15 companies that are most valued by market capitalization because M-Cap reaches the sign of Rs 3 trillion on Monday when the shares reached a record high of 4,800 before closing at Rs 4,716.
Shares have surged more than 70% in 2021.
On October 11, Avenue Supermarts rose 7.06% to end the highest record RS 4,719.60, with market capitalization of RS 3.05,710.79 Crore.
Now the 15th most valuable company by the market cap, after Cat Asia, HCL Technologies, Wipro, and Box Mahindra Bank, Bharti Airtel, SBI, Bajaj Finance, ICICI Bank, HDFC, HDFC Bank.
Established in 2002, D-Mart saw sales growth and a strong two-digit advantage between FY09 and FY20.
FY21 is affected by a pandemic.
D-Mart revenue grew 46% year-on-year in the second quarter of the financial year 2022 to RS 7,649.64 Crore from RS 5,218.15 Crore a year ago with 90% pre-covid recovery.
D-Mart sales increased 123% in Mumbai and now have been obtained to Ahmedabad, Pune, Bangalore, Hyderabad and Faridabad.
The e-commerce business will be scaled quickly after the Mumbai model changes profitable.
In the September quarter, the added eight shops took the total number of stores to 246.
Nowadays the presence in 11 states and 1 Union region.
“High inflation trends allow retailer value such as D-Mart to offer increased value for customers and get a share of general trade-oriented trading.
We expect inflation to activate the average bill value to remain increased vis à covid times with cutting normalization bills Because of the convenience restrictions provide strong growth potential in the medium term, “said Broker Prabhudas Lilladher in a note.
In August 2021, Radhakishan S Dewani, promoter of the D-Mart supermarket chain, also entered the top 100 list of global billionaires.
Damanii is now ranked 98th on the Bloomberg billionaire index with $ 24.68 as a net worth.