Avenue Supermarts Q1 FY25 results (Apr–Jun 2024) and concall

DMart delivered solid FY24 with 18.4% revenue growth, opening 41 stores. Like-for-like growth was strong at 9.9%. Gross margin declined 37bps due to competitive FMCG pricing and GM&A mix shift. E-commerce grew 31.7% with losses at ₹185 Crore in a year of consolidation. Management maintained disciplined approach to expansion, guiding 40-50 stores annually with aspiration for more as store base grows.