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DMart operator Avenue Supermarts touches Rs 1 lakh crore mcap

The company’s current market capitalisation stands at Rs 100,440.16 crore.

Avenue Supermarts, the operator of DMart chain of outlets, surpassed a market capitalization of Rs 1 lakh crore on Monday morning. The stock managed to gain 2 percent intraday.

The stock touched a 52-week high of Rs 1,619.95, while it had an intraday low of Rs 1,591.00.

The company’s current market capitalization stands at Rs 100,440.16 crore.

The company was in the news recently after it was added to the MSCI India index from June 1. The stock had also reacted to a stake sale by promoter Radhakishan Damani in a bid to meet public disclosure norms.

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In its recently-declared results for the March quarter, the firm reported a stellar 65.8 percent rise in the December quarter net profit to Rs 251.8 crore against Rs 151.9 crore reported during the same period last year.

The company’s revenues rose 23 percent at Rs 4,094.8 crore against Rs 3,339.3 crore year on year.

At the operating level, the earnings before interest, taxes, depreciation, and amortization (EBITDA) soared 46.4 percent at Rs 421.8 crore against Rs 288.2 crore in the corresponding quarter last year.

The operating margin has come in at 10.3 percent against 8.63 percent year on year.

Basic earnings per share (EPS) for Q3FY18 stood at Rs. 4.03, as compared with Rs. 2.70 for Q3FY17.

The company had a stellar listing last year, doubling its gains to the issue price. In the past one year, the stock has risen over 100 percent. In the past three days, its gains have been over 6 percent. At 10:20 hrs Avenue Supermarts was quoting at Rs 1,611.15, up Rs 18.10, or 1.14 percent, on the BSE.

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DMart operator Avenue Supermarts touches Rs 1 lakh crore mcap DMart operator Avenue Supermarts touches Rs 1 lakh crore mcap Reviewed by Shivi Choudhary on June 11, 2018 Rating: 5

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