DMart MD, CEO Ignatius Navil Noronha's Term Ends January 31, Anshul Asawa to Take Over

Avenue Supermarts Limited has announced a major leadership transition as the tenure of Managing Director and Chief Executive Officer Ignatius Navil Noronha concludes on January 31, 2026. The company has simultaneously appointed Anshul Asawa as the new CEO, marking a significant milestone in DMart's corporate governance structure.

Leadership Transition Details

Noronha will cease to hold office as Managing Director and CEO with effect from the close of business hours on January 31, 2026. Based on the recommendation of the Nomination and Remuneration Committee, the Board has approved Asawa's appointment as Chief Executive Officer and Key Managerial Personnel effective February 1, 2026.

Position:	Effective Date	Duration
Chief Executive Officer:	February 1, 2026	Ongoing
Managing Director:	April 1, 2026	3 years (subject to approval)

New CEO Profile

Asawa, currently serving as CEO Designate, brings extensive leadership experience to his new role. An alumnus of IIT Roorkee and IIM Lucknow, he joined DMart in March 2025 after a distinguished three-decade career at Unilever. During his tenure at Unilever, Asawa held several senior leadership positions across India, Asia, and Europe, providing him with comprehensive global business experience.

Organizational Restructuring

The company has designated four officials as Senior Management Personnel effective February 1, 2026, reflecting changes in the reporting structure:

Sachin Jaolekar: Vice President – FMCG
Dastgir Shaikh: Vice President – General Merchandising
Shyam Gupta: Head – Apparels
Rushabh Ghiya: Head – Investor Relations and Chief of Staff

Strong Financial Performance

DMart's third quarter results demonstrate robust business fundamentals during this leadership transition period. The company delivered impressive financial metrics across key performance indicators.

Financial Metric:	Q3 Current	Q3 Previous Year	Growth (%)
Net Profit:	₹856.00 crore	₹733.00 crore	+17.0%
Revenue:	₹18,101.00 crore	₹15,972.00 crore	+13.3%
EBITDA:	₹1,463.00 crore	₹1,217.50 crore	+20.2%
EBITDA Margin:	8.1%	7.7%	+40 bps

Market Response

Shares of Avenue Supermarts ended higher on the NSE on January 9, 2026, closing at ₹3,807.00, representing a gain of 0.45%. The positive market response reflects investor confidence in the company's leadership transition and continued business momentum.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.30%	+2.29%	-1.71%	-9.77%	-1.09%	+28.10%

Avenue Supermarts Limited has demonstrated strong financial performance in its Q3FY26 results, with the retail giant reporting significant growth across key operational and financial metrics. The company released its comprehensive investor presentation covering the quarter and nine months ended December 31, 2025, highlighting sustained expansion and improved market presence.

Financial Performance Overview

The company's financial results for the nine-month period showcase robust growth momentum. Revenue from operations reached ₹49,764.00 crores for 9M FY26, marking a substantial 14.9% increase from ₹43,327.00 crores recorded in the corresponding period of the previous year.

Financial Metric	9M FY26	9M FY25	Growth
Revenue from Operations	₹49,764 crores	₹43,327 crores	+14.9%
EBITDA	₹4,024 crores	₹3,561 crores	+13.0%
EBITDA Margin	8.1%	8.2%	-10 bps
PAT	₹2,499 crores	₹2,307 crores	+8.3%
PAT Margin	5.0%	5.3%	-30 bps

Operational Metrics and Store Expansion

The company's operational performance reflects strong customer engagement and strategic expansion. Total bill cuts reached 10.3 crores in Q3FY26, representing growth from 9.2 crores in Q3FY25. However, like-for-like growth for stores operational for more than 24 months moderated to 5.6% in Q3FY26 from 8.3% in Q3FY25.

Operational Parameter	Q3FY26	Q3FY25	Change
Total Bill Cuts	10.3 crores	9.2 crores	+12.0%
Like-for-Like Growth	5.6%	8.3%	-270 bps
Retail Business Area	18.3 mn sqft	16.1 mn sqft	+13.7%
Revenue per sqft	₹9,290	₹9,317	-0.3%

Geographic Expansion Strategy

Avenue Supermarts continues its cluster-based expansion approach, operating 442 stores across 12 states as of 9M FY26, compared to 387 stores in the previous year. The company added 27 new stores during the nine-month period, with significant presence in key markets including Maharashtra (120 stores), Gujarat (71 stores), and Telangana (45 stores).

Product Portfolio Performance

The company maintains a diversified product mix across three main categories. Foods segment accounts for 57.19% of revenue share in 9M FY26, slightly up from 57.01% in the previous year. Non-Foods (FMCG) segment represents 19.83% of revenue, while General Merchandise & Apparel contributes 22.98% to the overall revenue mix.

Digital Initiative - DMart Ready

The company's online delivery service, DMart Ready, operates across 19 cities as of 9M FY26, focusing on key large towns and metropolitan areas. This represents a strategic approach to capture the growing digital commerce opportunity while leveraging the company's existing supply chain and inventory management capabilities.

The presentation demonstrates Avenue Supermarts' continued focus on sustainable growth through strategic store expansion, operational efficiency improvements, and maintaining its value proposition of daily discounts across diverse product categories.