Avenue Supermarts Limited has announced the resignation of Mr. Rajeev Chandrasekharan from his position as Head - Centre of Excellence and Senior Management Personnel. The resignation was submitted on 6th April, 2026, due to personal reasons, with the executive set to conclude his tenure on 5th July, 2026.

Resignation Details

The company has formally notified the BSE and NSE about this senior management change in compliance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. Mr. Chandrasekharan, who held the position of AVP (Assistant Vice President) at the Centre of Excellence, cited personal reasons for his decision to resign.

Regulatory Compliance

Avenue Supermarts has fulfilled its disclosure obligations by providing the required information to stock exchanges as mandated under SEBI regulations. The company submitted the necessary documentation including the formal resignation letter and annexure containing details as per SEBI Master Circular requirements.

Transition Planning

In his resignation letter addressed to CEO & MD Mr. Anshul Asawa, Mr. Chandrasekharan expressed his commitment to ensuring a smooth transition during his remaining tenure. He stated his intention to complete ongoing projects and facilitate proper handover of responsibilities. The executive mentioned his desire to prioritize a personal passion as the driving factor behind his career decision.

Corporate Communication

The formal intimation was signed by Company Secretary & Compliance Officer Ashu Gupta and communicated to both major stock exchanges. Avenue Supermarts maintains its headquarters at Wagle Industrial Estate, Thane (West), Maharashtra, and continues its operations while managing this senior management transition.

Avenue Supermarts has received a significant rating upgrade from Morgan Stanley, which has raised its recommendation to Overweight with a target price of ₹5,188. The upgrade reflects the brokerage's confidence in the retail chain's strong operational performance and growth prospects.

Strong Q4 Performance Drives Upgrade

The upgrade is primarily anchored on Avenue Supermarts' robust Q4 revenue growth of 19%, which demonstrates the company's ability to maintain strong momentum in a challenging retail environment. This performance has reinforced Morgan Stanley's positive outlook on the company's operational efficiency and market positioning.

Key Growth Drivers Identified

Morgan Stanley has highlighted several factors supporting its bullish stance on Avenue Supermarts:

Strategic Positioning in Retail Landscape

The brokerage has emphasized Avenue Supermarts' defensive positioning within the discretionary retail space, which provides the company with resilience against market volatility. This strategic advantage, combined with inflation-led same-store sales growth tailwinds, positions the retailer favorably for sustained growth.

Long-term Revenue Growth Expectations

Morgan Stanley projects that Avenue Supermarts will achieve revenue growth improvement to 19-20% in FY27-28, indicating strong confidence in the company's long-term growth trajectory. This projection reflects the expected benefits from the company's expansion strategy and operational improvements.

The upgrade to Overweight rating with a ₹5,188 target price represents Morgan Stanley's conviction in Avenue Supermarts' ability to capitalize on favorable market conditions and execute its growth strategy effectively.