Motilal Oswal Lifts DMart Target to Rs 4,800 After In-Line Q1, Sees ~18% Upside
Motilal Oswal retained its Buy on Avenue Supermarts and raised the target to Rs 4,800 from Rs 4,750 following in-line Q1 FY27 results. Growth deceleration to ~15% stokes quick-commerce share worries in metros, but tier-2 store economics stay strong. Brokerage models 18%/19%/16% revenue/Ebitda/PAT CAGR over FY26-29E.
Motilal Oswal raised DMart's target price to Rs 4,800, retaining Buy, after in-line Q1 FY27 results. Growth deceleration to ~15% raises quick-commerce market-share concerns in metros, but tier-2 store economics remain a strength.
Why this matters
The upgrade follows DMart's metro squeeze from quick-commerce, its retreat from 7 cities and e-commerce refocus, plus Q1 PAT rising 12.8% to Rs 936 crore alongside a Rs 1,000-crore NCD issue.
Retail-company signals are accelerating, up +741000% QoQ.