Patel Retail opens 52nd store at Bapgaon in Bhiwandi

Patel Retail has opened its 52nd Patel's R Mart store at H. No 457 (A) Near Petrol Pump Village, Bapgaon, Bhiwandi, strengthening its presence in the Mumbai Metropolitan Region (MMR). The launch marks a step in the company's cluster-based expansion strategy to enhance accessibility in suburban and emerging urban markets. The disclosure was made to the exchanges on June 6, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Latest Store Opening

The newly launched outlet in Bhiwandi represents Patel Retail's most recent milestone in its ongoing retail expansion drive. With this addition, the company's network now stands at 52 stores, reflecting steady progress toward its stated growth ambitions.

Parameter	Details
New Store Name	Patel's R Mart
Location	Bapgaon, Bhiwandi
Total Store Count	52

Expansion Strategy

The retailer's growth roadmap reflects a structured approach to scaling its store count and geographic reach. Patel Retail is targeting the opening of over 75 stores by FY27, moving beyond its existing presence in the Mumbai Metropolitan Region (MMR) into new cities across Maharashtra and Western India. The Bhiwandi store opening is consistent with this strategy of expanding into newer geographies within the region.

Parameter	Details
Store Target	Over 75 stores
Target Timeline	FY27
Current Region	Mumbai Metropolitan Region (MMR)
Expansion Geography	New cities in Maharashtra and Western India

Leadership Commentary

Dhanji Patel, Chairman & Managing Director of Patel Retail, stated that the opening of the 52nd store reflects a strategic approach where every location is selected after assessing demographics, consumer demand, and long-term growth prospects. He noted that Bhiwandi is emerging as an important economic and residential hub within the MMR, supported by population growth and infrastructure development. The company aims to build a scalable retail network while driving sustainable and profitable growth.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-3.73%	+2.04%	-12.49%	-16.45%	-35.59%	-35.59%

Patel Retail reported a 54.5% rise in net profit to ₹39.05 crore for the financial year ended March 31, 2026, driven by a 28.3% increase in revenue. The company achieved a PAT margin of 3.69%, an expansion of 63 basis points from the previous year. The board of directors approved the audited standalone financial results for the year on May 25, 2026, upon the recommendation of the audit committee. The statutory auditors, M/s. Kanu Doshi Associates LLP, issued an unmodified opinion on the financial results.

Revenue from operations for FY26 stood at ₹1059.29 crore, compared to ₹825.99 crore in FY25. For the quarter ended March 31, 2026, the company recorded a net profit of ₹9.98 crore compared to ₹7.18 crore in the same period last year, on revenue from operations of ₹339.55 crore versus ₹221.42 crore year-on-year. Q4 EBITDA came in at ₹22.74 crore against ₹17.33 crore in the corresponding quarter of the previous year.

Financial Performance

The company's total income for the year increased to ₹1059.29 crore from ₹825.99 crore in FY25. Total expenses for FY26 rose to ₹1006.87 crore from ₹791.66 crore. Profit before tax for the year grew to ₹52.42 crore from ₹34.33 crore. Earnings per share (EPS) for the year improved to ₹13.03 from ₹10.30 in the previous year.

The following table summarizes the key annual financial metrics:

Particulars	Year Ended March 31, 2026 (₹ in crore)	Year Ended March 31, 2025 (₹ in crore)
Revenue from operations	1048.33	820.69
Total income	1059.29	825.99
Total expenses	1006.87	791.66
Profit for the year	39.05	25.28
Earnings per share (Basic)	13.03	10.30

Operational Highlights

During the year, the company completed its initial public offer (IPO), raising net proceeds of ₹189.39 crore. The funds were utilized for working capital requirements, repayment of borrowings, and general corporate purposes. The company confirmed there was no deviation in the utilization of funds raised, as certified by Chief Financial Officer Hitesh B. Sawlani.

The company reassessed its store lease agreements during the quarter, resulting in the recognition of Right-of-Use (ROU) assets and lease liabilities under Ind AS 116. This change led to a depreciation expense of ₹65.30 crore and a finance cost of ₹15.85 crore for the year, with a corresponding reversal of rent and service charges amounting to ₹69.41 crore. The company stated this accounting change had no adverse impact on cash flows.

Patel Retail achieved key milestones with the launch of its 50th store in Thakurli and 51st store in Rasayani, further strengthening its presence in the Mumbai Metropolitan Region. Additionally, the company received export authorization from the Directorate General of Foreign Trade (DGFT) for wheat flour and related products. The investor presentation for FY26 was posted on the company's website on June 2, 2026.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE0R8B01010/896b11a2f2ff4bfa.pdf