The retailer’s EBITDA margin fell to 7.9% in Q3FY25 as compared to 8.5% in Q3FY24 while the PAT margin also decreased to 5% vs 5.5% on a YoY basis.
During the quarter, same store revenue growth for 2 years and older stores was at 8.3%. “We continue to see increased intensity in discounting in the FMCG category and the consequent impact to high turnover per square feet stores in metro towns. However, this quarter the impact has relatively reduced versus the previous quarter (Q2 FY 2025),” Avenue Supermarts MD and CEO Neville Noronha said.
Also Read: Neville Noronha quits Avenue Supermarts, Unilever’s Anshul Asawa to be new CEO
DMart Ready recorded a growth of 21.5% in the first 9 months of FY 2025. The company said it is seeing significantly more demand for home delivery compared to pick-up point and hence it continues to align business to that extent.
“Our home delivery business now far exceeds our pick-up point sales contribution. We will continue to provide both channels of delivery as an option to our shoppers in select towns. In several towns we now only operate ‘Home Delivery’ as a delivery channel,” Noronha said.Leadership Transition
While announcing the quarterly numbers, the company also announced that Noronha will not be offering his candidature for renewal of his role as the Managing Director and CEO at the conclusion of his current term in January 2026, a year from now.
Avenue Supermarts board has appointed Anshul Asawa as the CEO Designate, effective March 15th, 2025.
Neville joined DMart in January 2004 and has shepherded the company from its early years to its current position as one of the largest supermarket chains of the country.
“He has demonstrated exceptional leadership skills and dedication in his remarkably successful tenure. A leader who saw the big picture but never lost the eye for detail, Neville made sure that growth and profits were not ends in themselves, rather they were the by products of efficiency, fairness and customer value,” said C.B. Bhave, the Chairman of the Board of Directors of Avenue Supermarts Limited.
Neville said he will ensure a smooth transition till his tenure ends and available even after that for any counsel
the company may need from time to time.
The incoming CEO Anshul Asawa is an IIT Roorkee and IIM Lucknow alumnus who will be joining DMart after a 30-year long stint at Unilever where he had leadership roles overseeing the growth of product categories and developing impactful functions in India, Asia, and Europe. He currently serves as Country Head of Unilever in Thailand and General Manager for the Home Care business unit in Greater Asia.
