Avenue Supermarts (DMart) has been one of the biggest gainers among retail firms since the beginning of the lockdown, appreciating 33 per cent. The company’s ability to achieve higher-than-industry growth, margins, and return ratios, coupled with a strong balance sheet have aided stock gains. The firm had raised Rs 4,000 crore in the March quarter (Q4) from a qualified institutional placement, which boosted its cash position.
Despite the lockdown, its Q4 performance was better than expected. The firm reported a 23 per cent revenue growth year-on-year (YoY) in the quarter, pegged by a nine-day loss in March. Given the 11