Interim report
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10th October, 2026 To, BSE Limited Corporate Services Department Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001 National Stock Exchange of India Ltd. Corporate Communications Department “Exchange Plaza”, 5th Floor, Bandra – Kurla Complex, Bandra (East), Mumbai – 400 051 BSE Scrip Code: 540376 NSE Scrip Symbol: DMART Sub: Proceedings of the Board Meeting held on 10th October, 2026 as per Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended Dear Sir/ Madam, With reference to the captioned subject, we hereby inform you that the Board of Directors of the Company at its meeting held o n 1 0th October, 202 6, inter -alia other matters, have approved the Un-audited Standalone & Consolidated Financial Statement s for quarter and half year ended on 30 th September, 202 6 along with the Limited Review Report issued by S R B C & Co LLP, Chartered Accountants, Statutory Auditors of the Company in accordance with Regulation 33 and 52 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 and the same is attached herewith. The said meeting commenced at 1.40 p.m. and concluded at 2.35 p.m. Kindly take the same on your record and acknowledge. Thanking you. Yours faithfully, For Avenue Supermarts Limited Ashu Gupta Company Secretary & Compliance Officer Encl: As above
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SR BC & CO LLP Chartered Accountants 12th Floor, The Ruby 29 Senapati Bapat Marg Dadar (West) Mumbai • 400 028, India Tel : +91 22 6819 8000 Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Standalone Financial Results of the Company Pursuant to the Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended Review Report to The Board of Directors Avenue Supermarts Limited 1. We have reviewed the accompanying statement of unaudited standalone financial results of Avenue Supermarts Limited (the "Company") for the quarter ended September 30, 2026 and year to date from April 01, 2026 to September 30, 2026 (the "Statement") attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations"). 2. The Company's Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 and 52 of the Listing Regulations. The Statement has been approved by the Company's Board of Directors. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires t hat we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financ ial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. For S R BC & CO LLP Chartered Accountants ICAI Firm registration number: 324982E/E300003 v-l Ll ~ 1, \j/•--~ per Vikram Mehta Partner Membership No.: 105938 UDIN: 26105938WOQHHl6732 Thane, October 10, 2026 Page 1 of 1 S R B C & CO LLP. a Limited Liability Partnership with LLP Identity No. AAB-43 18 Regd. Offi ce : 22, Camac Street, Block '8' , 3rd Floor, Kolkata-700 016
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D*M ® ~ art Avenue Supermarts Limited Sr. No. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 GIN : L51900MH2000PLC126473 Regd. Office : Anjaneya CHS limited, Orchard Avenue, Opp. Hlranandani Foundation School, Powai, Mumbai 400 076 Unaudited standa lone fina ncial results for the quarter and six months ended 30th September, 2026 (fin Crores, unless otherwise staled) Quarter ended Quarter ended Quarte r ended Six months ended Six months ended Year ended 31st Particulars 30th September, 30th June, 2026 3oth September, 30th September, 30th September, March, 2026 2026 2025 2026 2025 tUnaudlted l IUnauditedl ! Unaudited) /Unaudited) ! Unaudited) /Audited) Income a) Revenue from opera tions 19,206.18 18,343.49 16,218.79 37,549.67 32,150.91 66,968.03 b) Olher income 23.27 37.76 32.92 61.03 67.05 128.02 Total Income 19,229.45 18,381.25 16,251.71 37,610.70 32,217.96 67,096 .05 Expenses a) Purchases of stock-in -trade 17,752.71 15,698.14 14,613.22 33,450.85 28,090.73 58,216.11 b) Change in inventories of stock-in-trade (1,263.29) (124.41) (704.19) (1,387.70) (581.87) (824.99) c) Employee benefits expense 396.54 397.06 331.13 793.60 632.92 1,352.42 d} Finance costs 59.55 50.60 31.84 110.15 58.46 129.93 e) Depreciation and amort isation expense 287.04 262.07 228.22 549.11 437.80 934.81 f) Other expenses 917.03 845.79 748.67 1,762.82 1,465.85 2,969.27 Total expenses 18,149.58 17,129.25 15,248.89 35,278.83 30,103.89 62,777.55 Profit before tax 1,079.87 1,252.00 1,002.82 2,331.87 2,114.07 4,318.50 Tax expenses Current tax 273.35 309.33 252.60 582.68 531.05 1,085.23 Deferred tax charge 2.92 6.90 3.67 9.82 6.74 9.34 Net profit after tax 803.60 935.77 746.55 1,739.37 1,576.28 3,223.93 Other comprehensive incomel( loss) (net of tax) (9.46) (1.97) (8.56) (11.43) (10.53) (4.77) Total comprehens ive income for the period / year 794.14 933.80 737.99 1,727.94 1,565.75 3,219.16 Paid -up equity share capital 652.25 652.25 650.73 652.25 650.73 651.96 (Face Value - f10I- per share) Olher equity 26,637.56 25,817.52 23.159.79 26,637.56 23,159.79 24,867.63 (excluding revaluation reserves) Earnings per shate (of ,101- each) (not annualised): a) Basic in , 12.32 14.35 11.47 26.67 24.22 49.54 b) Diluted inf 12.32 14.35 11.44 26.67 24.16 49.52 Additional disclosures as per Regula!!on 52(4) of Securities and Exchange Board of India (listing Obligations and Disclosure Requirements) Regula!!ons, 2015 (refer note 7 and 8): Debt-equity ratio (times) 0.15 Debt service coverage ratio (times) 0.67 Interest service coverage ratio (times) 19.61 Current ratio (times) 1.73 Long tern, debt to working capital (times) 0.33 Current liability ratio (times) 0.79 Total debts to total assels (times) 0.12 Trade receivables turnover (times) (not annual ised) 51.51 Inventory turnover (times) (not annualised) 2.58 Operating margin(%) 7.31% Net profit margin(%) 4.18% Oulstandlng redeemable preference shares (quantity and value) NA Capltal redemption reserve/debentu re redemption reserve NA Bad debts to Account receivable ratio NA SIGNED FOR IDENTIFICATION BY SR BC & CO LLP MUMBAI 0.10 0.76 24.02 2.06 0.34 0.72 0.08 46.02 2.74 8.32% 5.10% NA NA NA 0.06 0.15 0.06 0.09 15.52 0.72 16.23 3.36 41.43 21.68 45.71 33.36 2.61 1.73 2.61 2.01 0.25 0.33 0.25 0.30 0.69 0.79 0.69 0.75 0.05 0.12 0.05 0.07 34.21 86.78 71.02 148.67 2.76 5.07 5.40 11.00 7.58% 7.80% 7.91% 7.85% 4.60% 4.63% 4.90% 4.81% NA NA NA NA NA NA NA NA NA NA NA NA
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Notes 1 Standalone Balance Sheet as at 30th September, 2026 Sr.No. I 1) a b C d e f f.i f.ii g h 2) a b b.i b.ii b.iii b.iv C II 1) a b 2) a a.ia a.ii b 3) a a.i a.ia a.ii a.iii b C d Particulars Assets Non-current assets Property, plant and equipment Capital work-in-progress Right to use assets Investment properties Intangible assets Financial assets Investments Other financial assets Income tax assets (net) Other non-current assets Total non-current assets Current assets Inventories Financial assets Trade receivables Cash and cash equivalents Bank Balances other than cash and cash equivalents Other financial assets Other current assets Total current assets Total assets Equity and liabilities Equity Equity share capital Other equity Total equity Non current liabilities Financial liabilities Lease liabilities Other financial liabilities Deferred tax liabilities (net) Total non current liabilities Current liabilities Financial liabilities Borrowings Lease liabilities Trade payables due to: Micro and small enterprises Other than micro and small enterprises Other financial liabilities Other current liabilities Provisions Current Tax Liabilities (Net) Total current liabilities Total equitv and liabilities SIGNED FOR IDENTIFICATION BY f SR BC & CO LLP MUMBAI (~ in Crores, unless otherwise stated) As at As at 30th September, 2026 31st March, 2026 (Unaudited) (Audited) 18,726.26 17,342.15 1,591.25 1,284.24 2,321.22 2,200.00 15.44 50.64 27.85 26.55 1,757.13 1,607.13 187.85 175.76 16.10 16.10 341.30 409.23 24 984.40 23 111.80 7,018.14 5,630.44 323.01 356.97 135.34 248.06 30.93 17.53 745.83 705.33 441.86 234.20 8 695.11 7,192.53 33 679.51 30,304.33 652.25 651.96 26,637.56 24,867.63 27,289.81 25,519.59 1,221.69 1,089.50 0.54 0.54 134.32 124.50 1,356.55 1 214.54 2,628.66 965.27 228.95 212.45 293.54 344.33 824.44 929.11 511.87 613.62 94.64 132.91 102.52 101.19 348.53 271.32 5 033.15 3 570.20 /", 33,679.51 30,304.33 I ' ~~ ~ ~ )~ I ft~ ~--~ 'I ' .,, I \~ t:,1 ·, -v
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2 Standalone Cash Flows statement for the six months ended 30th September, 2026 Sr. No. I II Ill Cash flow from operating activities: Profit before tax Adjustments for: Depreciation and amortizat ion expenses Finance costs Interest income Gain on sale of investments Expense on employee stock option scheme Rent income Loss/(Gain) on disposa l of property, plant and equipment (net) Operating profit before working capital changes Adjustments for: lncrease/(Decrease) in trade payables lncrease/(Dec rease) in provisions lncrease/(Decrease) in other current financial liabilities Decrease in other current liabilities Increase in other non-cur rent financial liabilities (Increase )/Decrease in trade receivab les Increase in inventories (lncrease)/Decrease in other non-current assets Increase in other non-current financial assets Increase in bank balances other than cash and cash equivalents Increase in other current assets Increase in other current financial assets Cash flow from operating activities Direct taxes paid (net of refunds) Net cash flow from operating activities Cash flow from investing activities: Proceeds from disposa l of property, plant and equipment Purchase of Bank Deposits Interest received Rent income received Purchase of property, plant and equipment, intangible assets, investment properties, capital work in progress, capita l advances and capital creditors (net) Purchase of non current Investments Proceeds from sale of current Investments Purchase of current Investments Loan given to subsidiary company Net cash flow used in investing activities Cash flow from financing activities: Proceeds from exercise of share options Proceeds from share application money pending allotment Proceeds from short term borrowings Proceeds of commercia l papers Repayment of short term borrowings Repayment of commercial papers Payment of lease liabilities Interest paid on lease liabilities Interest paid Cash flow from/(used in) financing activities Net increase/(decrease) in cash and cash equivalent Cash and cash equivalents at beginning of the period Cash and cash equivalents at end of the period (net of bank overdrawn balances) Cash and cash equivalents as per above compr ises of the following: Cash and cash equivalents Bank overdrawn Balance as per statement of cash flows SIGNED FOR IDENTIFICATION BY j SR BC & CO LLP MUMBAI {fin Crores unless otherwise stated) Six months ended Six months ended 30th Seotember 2026 30th Seotember 2025 /Unaudi ted\ /Unaudited) 2,331.87 2,114.07 549.11 437.80 110.1 5 58.46 (24.85) (29.11) (3.09) (1.67) 13.33 12.21 (26.56) (33.05) 0.48 (0.39 2,950.44 2,558.32 (155.46) 46.89 (13.95) 20.75 (37.50) 4.45 (38.27) (51.20) - 0.05 33.96 (19.33) (1.387.70) (581.87) 0.72 (0.79) (19.52) (14.09) (13.40) (17.86) (207.66) (67.02) 110.87 (40.65 (1,849.65 (720.67 1,100.79 1,837.65 (501.62) (441.05) 599.17 1,396.60 3.08 2.77 (13.41) (150.11) 25.91 36.68 25.13 32.09 (2,089 .82) (1,704.84) (150.00) (100.00) 2,910.95 921.62 (2,907.85) (919.95) 19.12' 13.00 12,205.131 (1,884.74 8.59 - 18.66 - 2,403 .68 165.00 2,600.00 100.00 (1,848.67) - (1,300 .00) - (86.73) (70.58) (66.06) (54.03) 144.61) (3.07' 1,684.86 137.32 78.90 1350.82) (132.21) 330.22 (53.31) (20.60) 135.34 162.59 (188.65) (183.19 ) (53.31) (20.60) 1/
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Notes:• 3 The above standalone financial results have been prepared In accordance with Indian Accounting Standards as prescribed under Section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting standards) Rules as amended from time to time and other relevant provisions of the Act. 4 The above standalone financial results have been reviewed and recommended by the Audit Committee and have been approved and taken on record by the Board of Directors at Its meeting held on 10th October, 2026. 5 The limited review as required under Regulation 33 and 52 of the SEBI (Listing Obligation and Disclosure Requireme nts) Regulations, 2015 has been completed by the auditors of the Company. 6 The Company is primarily engaged In the business of retail trades through offline channels. There are no separate reportable segment as per IND AS 1 OB - Operating Segments. 7 The Company has allotted Commercial Papers which are listed on BSE Limited . Details of Commercial Papers are as follows: Particulars Credit Rating Issue Date Maturity Date Amount Discount Rate 10,000 Commercial Paper of~ 5 Lakh each ICRA A 1 + by ICRA 10th April, 2026 Limited 29th June, 2026 't 500 crore 6.60 % p.a 6,000 Commercial Paper of 't 5 Lakh each ICRA A1+ by ICRA 09th June, 2026 Limited 07th September, 2026 't 300 crore 7.18 % p.a 4,000 Commercial Paper of 't 5 Lakh each ICRA A1+ by ICRA 3oth June, 2026 28th September, 2026 t 200 crore 6.70 % p.a Limited 6,000 Commercial Paper oft 5 Lakh each ICRAA1+ by ICRA 6th July, 2026 29th September, 2026 t 300 crore 6.60 % p.a Limited 6,000 Commercia l Paper oft 5 Lakh each ICRA A1+ by ICRA 11th August, 2026 09th November, 2026 't 300 crore 6.70 % p.a Limited 4,000 Commercial Paper of 't 5 Lakh each ICRA A1 + by ICRA 20th August, 2026 18th November, 2026 't 200 crore 6.50 % p.a Limited 6,000 Commercia l Paper of, 5 Lakh each ICRA A1 + by ICRA 8th September, 2026 Limited 7th December, 2026 , 300 crore 6.40 % p.a 10,000 Commercial Paper of'{ 5 Lakh each ICRAA1+ by ICRA 30th September, 2026 Limited 29th December, 2026 t 500 crore 6.12 % p.a 8 Formulae used for calculation of kev ratios and finan cial indicators: Ratios Numerator Denominator Borrowings (Including current and non current Debt-equity ratio (times) lease liabilities) + Interest accrued but not due on Total Equity borrowings Earnings available for debt service = Net profit Debt service coverage ratio (times) after taxes + Non-cash operating expenses Debi service = Finance costs & Lease (depreciation, Finance costs & (gain)/loss on Payments + Principal Repayme nts disposal of assets) Earnings available for debt service = Net profit Interest service coverage ratio (times) after taxes + Non-cash operating expenses Interest Expense (depreciation, Interest & loss on disposal of assets) Current ratio (times) Current Asset Current Liabilities Long term debt to working capital Non Current Borrowings + Non Current Lease Current Assets - Current Liabilities Liabilities Current liability ratio Current Liabilities Total Liabilities Borrowings (Including current and non current Total debts to total assets lease liabilities) + Interest accrued but not due on Total Assets borrowings Trade receivables turnover (times) (not annualised) Net credit sales = Gross credit sales - sales Average Trade Receivable return Inventory turnover (times) (not annualised) Cost of goods sold Average Inventory Earnings before finance costs, taxes, Operating margin(%) depreciation, amortization expenses less Other Income Revenue from Operations Net profit margin(%) Net profit after tax Revenue from Operations g Previous year/ quarter figures are regrouped and rearranged wherever necessary. For and on behalf of the I W of Directors of SIGNED FOR IDENTIFICATION BY ~u£8~ Avenuel u~ ~ rl narts Limited ~ ~ ~ ,r~,<) "l"' ,,'('~ L_),~) SR BC & CO LLP \ a • :i:,, I Managin 0 Place: Thane MUMBAI ~L~Jl~~ DIN: 11400809 Date: 10th October, 2026 v
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SR BC & CO LLP Chartered Accountants 12th Floor, The Ruby 29 Senapati Bapat Marg Dadar <West) Mumbai - 400 028, India Tel : +91 22 6819 8000 Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Consolidated Financial Results of the Company Pursuant to the Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended Review Report to The Board of Directors Avenue Supermarts Limited 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Avenue Supermarts Limited (the "Holding Company") and its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group"), for the quarter ended September 30, 2026 and year to date from April 01, 2026 to September 30, 2026 (the "Statement") attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 , as amended (the "Listing Regulations"). 2. The Holding Company's Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 and 52 of the Listing Regulations. The Statement has been approved by the Holding Company's Board of Directors. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analyt ical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the Circular No. CIR/CFD/CMDl/44/2019 dated March 29, 2019 issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable. 4. The Statement includes the results of the following entities: Parent Company: i. Avenue Supermarts Limited Subsidiaries: i. Avenue E-commerce Limited ii. Align Retail Trades Private Limited iii. Nahar Seth & Jogani Developers Private Limited iv. Avenue Food Plaza Private Limited v. Reflect Healthcare and Retail Private Limited Page 1 of 2 S R B C & co LLP, a Limited Liability Partnership with LLP Identity No. AAB-4318 Regd. Olfi ce : 22, Camac Street, Block 'B', 3rd Floor, Kolkata-700 0 16
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SR BC & CO LLP Chartered Accountants Avenue Supermarts Limited Limited review report for consolidated financial results 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. 6. The accompanying Statement includes the unaudited interim financial result and other financial information, in respect of 1 subsidiary, whose unaudited interim financial result include total assets of Rs 631.61 crore as at September 30, 2026, total revenues of Rs 971.23 crore and Rs 1,885.35 crore, total net loss after tax of Rs. 75.35 crore and Rs 166.62 crore, total comprehensive loss of Rs. 75.47 crore and Rs 166.86 crore, for the quarter ended September 30, 2026 and period ended on that date respectively, and net cash outflow of Rs 15.64 crore for the period from April 01, 2026 to September 30, 2026, as considered in the Statement which have been reviewed by their respective independent auditor. The independent auditor's report on interim financial results and other financial information of this entity have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures in respect of this subsidiary, is based solely on the report of such auditor and procedures performed by us as stated in paragraph 3 above 7. The accompanying Statement includes the unaudited inter im financial results and other financial information, in respect of 3 subsidiaries, whose unaudited interim financial results include total assets of Rs 143.43 crore as at September 30, 2026, total revenues of Rs 104.22 crore and Rs 210.53 crore, total net profit after tax of Rs. 2.79 crore and Rs 9.08 crore and total comprehensive profit of Rs. 2.57 crore and Rs 8.81 crore, for the quarter ended September 30, 2026 and period ended on that date respectively, and net cash inflow of Rs 1.84 crore for the period from April 01, 2026 to September 30, 2026. These unaudited interim financial results and other unaudited financial information of the these subsidiaries have not been reviewed by their auditors and have been approved and furn ished to us by the Management and our conclusion on the Statement, in so far as it relates to the affairs of these subsidiaries, is based solely on such unaudited interim financial results and other unaudited financial information. According to the information and explanations given to us by the Management, these interim financial results are not material to the Group. Our conclusion on the Statement in respect of matters stated in para 6 and 7 above is not modified with respect to our reliance on the work done and the financial results certified by the Management. For SR BC & CO LLP Chartered Accountants ICAI Firm registration number: 324982E/E300003 ,,.J k/1.~V' '(J/' 1/. per Vikram Mehta Partner Membership No.: 105938 UDIN: 26105938AIDJWN379 Thane, October 10, 2026 Page 2 of 2
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D ~ Mart® Avenue Supermarts Limited GIN : L51900MH2000P LC126473 Regd. Office: Anjaneya CHS limited, Orchard Avenue, Opp. Hiranandanl Foundation School, Powai, Mumbai 400 076 Unaudited consolidated financial results for the quarter and six months ended 30th September, 2026 C~ in Crores, unless otherwise stated) Quarter ended Quarter ended Quarter ended Six months Six months Sr. Parti culars 30th September, 30th June, 2026 30th September, ended ended Year ended No. 30th September, 30th September, 31st March,2026 2026 2025 2026 2025 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) 1 Income a) Revenue from operations 19,644.01 18,794.53 16,676.30 38,438.54 33,036.00 68,820.74 b) Other income 13.53 25.78 19.57 39.31 39.00 74.10 Total income 19,657.54 18,820.31 16,695.87 38.477.85 33,075.00 68,894.84 2 Expenses a) Purchases of stock-in-trade 17,988.23 15,936.19 14,918.81 33,924.42 28,650.96 59.315.99 b) Change in Inventories of stock-in-trade (1,276.15) (110.36) (755.79) (1,386.51) (632.96) (856.26) c) Employee benefits expense 447.14 451.93 376.83 899.07 723.69 1,541.48 d) Finance costs 63.90 54.28 34.96 118.18 64.26 142.05 e) Depreciation and amortisation expense 317.75 287.70 253.47 605.45 485.17 1,037.02 f) Other expenses 1,091.83 1,017.43 922.80 2,109.26 1,781.62 3,632.94 Total expenses 18,632.70 17,637.17 15.751.08 36,269.87 31,072.74 64,813.22 3 Profit before tax 1,024.84 1,183.14 944.79 2,207.98 2,002.26 4,081.62 4 Tax expenses Current tax 279.88 315.60 258.19 595.48 538.84 1,101.23 Deferred tax charge 1.98 7.10 1.75 9.08 5.76 10.16 Tax in respect of earlier period/ year - - 0.37 5 Net profit afte r tax 742.98 860.44 684.85 1,603.42 1,457.66 2,969.86 6 Other comprehensive lncome/(loss) (net of tax) (10.00) (2.17) (8.87) (12.17) (11.22) (5.48) 7 Total compre hensive income for the period I year 732.98 858.27 675.98 1,591.25 1,446.44 2,964.38 8 Profitl(ioss) for the period I year 742.98 860.44 684.85 1,603.42 1,457.66 2,969.86 Attributable to: Equity holders of the Company 743.57 860.61 685.01 1,604.18 1,457.98 2,970.49 Non-controlling interests (0.59) (0.17) (0.16) (0.76) (0.32) (0.63) 9 Total comprehe nsive income for the period I year 732.98 858.27 675.98 1,591.25 1,446.44 2,964.38 Attributable to: Equity holders of the Company 733.57 858.44 676.14 1,592.01 1,446.76 2,965.01 Non-controlling interests (0.59) (0.17) (0.16) (0.76) (0.32) (0.63) 10 Paid-up equity share capital 652.25 652.25 650.73 652.25 650.73 651.96 (Face Value - ~101-per share) 11 Other equity (excluding revaluation reserves) 25,446.52 24,680.64 22,238.90 25,446.52 22,238.90 23,812.08 12 Earnings per share (of ~101- each) (not annualised): a) Basic in~ 11.40 13.20 10.53 24.60 22.41 45.65 b) Diluted inf 11.40 13.20 10.49 24.60 22.34 45.63 Additional disdosures as per Regulation 52(4} or Securities Md Exchange Board of India (Listing Ob1igaHons and Disclosure Requirements) Regulations, 2015 (refer note 8 and 9): 13 Debt-equity ratio (times) 0.16 0.11 0.07 0.16 0.07 0.10 14 Debt service coverage ratio (limes) 0.65 0.73 11.31 0.69 12.71 3.11 15 Interest service coverage ratio (times) 17.85 21.65 36.71 19.63 40.56 29.51 16 Current ratio (limes) 1.72 2.03 2.49 1.72 2.49 1.98 17 Long term debt to working capital (limes) 0.35 0.34 0.27 0.35 0.27 0.31 18 Current liability ratio (times) 0.78 0.72 0.69 0.78 0.69 0.75 19 Total debts to total assets (times) 0.13 0.09 0.06 0.13 0.06 0.08 20 Trade receivables turnover (times) (not annualised) 114 .84 105.74 112.34 223.31 192.26 350.64 21 Inventory turnover (times) (not annualised) 2.53 2.66 2.67 4.93 5.23 10.68 22 Operating margin(%) 7.09% 7.98% 7.28% 7.52% 7.61% 7.54% 23 Net profit margin (%) 3.78% 4.58% 4.11% 4.17% 4.41% 4.32% 24 Outstanding redeemable preference shares (quantity and value) NA NA NA NA NA NA 25 Capital redemption reserve/debenture redemption reserve NA NA NA NA NA NA 26 Bad debts to Account receivable ratio NA NA NA NA NA NA r-. SIGNED FOR IDENTIFICATION I .\ ~&_J-~~4 BY ~ 0 ,:r1 SR BC & CO LLP \:Y' \~!}~, MUMBAI -~1/
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Notes: 1 Consolidated Balance Sheet as at 30th September,2026 Sr.No. I 1) a b C d e f g g.i g.ii h i i 2) a b b.i b.ii b.iii b.iv b.v C II 1) a b 2) a a.ia a.ii b C 3) a a.i a.ia a.ii a.iii b C d Particulars Assets Non-current assets Property, plant and equipment Capital work-in-progress Right to use assets Investment properties Goodwill Intangible assets Financial assets Investments Other financial assets Income tax assets (net) Deferred tax assets (net) Other non-current assets Total non-current assets Current assets Inventories Financial assets Investments Trade receivables Cash and cash equivalents Bank Balances other than cash and cash equivalents Other financial assets Other current assets Total current assets Total assets Equity and liabilities Equity Equity share capital Other eauitv Eauitv attributable to eauitv holders of the Comoanv Non-controllinq interest Total eaultv Non current liabilities Financial liabilities Lease liabilities Other financial liabilities Provisions Deferred tax liabilities (net) Total non current liabilities Current liabilities Financial liabilities Borrowings Lease liabilities Trade payables Micro and small enterprises Other than micro and small enterprises Other financial liabilities Other current liabilities Provisions Current Tax Liabilities (Net) Total current liabilities Total eauitv and liabilities SIGNED FOR IDENTIFICATION BY SR BC & CO LLP MUMBAI (? in Crores unless otherwise stated) ' As at As at 30th Seotember 2026 31st March 2026 (Unaudited) (Audited) 18,932.95 17,586.95 1,624.28 1,299.96 2,533.50 2,381.41 7.08 7.26 78.27 78.27 36.16 36.42 2.01 2.01 200.57 196.71 21.21 16.80 6.56 6.71 366.49 433.98 23 809.08 22 046.48 7,287.15 5,900.64 3.14 2.00 118.06 149.34 156.87 283.71 36.53 20.07 763.17 726.60 628.73 395.42 8 993.65 7 477.78 32 802.73 29 524.26 652.25 651.96 25,446.52 23 812.08 26 098.77 24.464.04 12.451 (1.68 26 096.32 24 462.36 1,337.94 1,142.54 0.54 0.54 16.03 14.70 130.78 121.86 1 485.29 1 279.64 2,628.66 965.27 297.01 317.18 337.17 393.47 864.59 944.76 524.89 637.19 101.90 141.44 114.35 111.42 352.55 271.53 5 221.12 3 782.26 32 802.73 29 524.26 -¥- 10 ~I". ~
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2 Consolid ated Cash Flows statement for the six months ended 30th September 2026 Sr. No. I II Ill Particulars Cash flow from operating activities: Profit before tax Adjustments for: Depreciation and amortisation expenses Finance costs Interest income Gain on sale of investments Expense on employee stock option scheme Rent income Loss/(Gain) on disposal of property, plant and equipment (net) Operating profit before working capital changes Adjustments for: lncrease/(Decrease) in trade payables lncrease/(Dec rease) in provisions lncrease/(Dec rease) in other current financial liabilities Decrease in other current liabilities Increase in non-current provisions Increase in other non-cur rent financial liabilities Decrease in trade receivables Increase in inventories Decrease in other non-current assets Increase in other non-current financ ial assets Increase in bank balances other than cash and cash equivalents Increase in other current assets Increase in other current financial assets Cash flow from operating activities Direct taxes paid (net of refunds) Net cash flow from operating activities Cash flow from investing activities: Proceeds from disposal of property, plant and equipment Purchase in Bank Depos its Interest received Rent income received Purchase of property, plant and equipment, intangible assets, investment properties, capital work in progress, capital advances and capital creditors (net) Proceeds from sale of current Investments Purchase of current Investments Net cash flow used In investing activities Cash flow from financing activities: Proceeds from exercise of share options Proceeds from share application money pending allotment Proceeds from short term borrowings Proceeds from commer cial papers Repayment of short term borrowings Repayment of commercial papers Payment of lease liabilities Interest paid on lease liabilities Interest paid Net Cash flow from/(used In) financing activities Net lncrease/(decr ease) in cash and cash equivalent Cash and cash equivalents at beginning of the period Cash and cash equivalents at end of the period (net of bank overdrawn balances) Cash and cash equivalents as per above comprises of the following Cash and cash equivalents Bank overdrawn Balance as per statemen t of cash flows SIGNED FOR IDENTIFICATION BY \Y SR BC & CO LLP MUMBAI (~ in Crores unless otherwise stated' Six month s ended Six months ended 30th September 2026 30th September 2025 !unaudited\ !unaudited\ 2,207.98 2,002.26 605.45 485.17 118.18 64.26 (26.27) (30.62) (3.60) (2.56) 16.32 15.12 (2.74) (2.59) 3.79 (0.38 2,919.11 2,530.66 (136.47) 98.56 (13.19) 21.97 (41.90) 0.37 (39.54) (54.60) 1.33 1.03 - 0.05 31.28 40.31 (1,386.51) (632.97) 2.85 0.35 (10.32) (15.57) (16.46) (17.77) (233 .31) (88.12) (9.38) (37.55) 1,067.49 1,846.72 /514.9 i (448.55 552.57 1,398.17 3.11 4.15 (24.17) (150.83) 26.62 38.84 2.74 2.59 (2,139. 18) (1,752.66) 2,930.74 1,500.58 12,928.281 (1,497.28' /2 128.42 (1,854.61] 8.59 - 18.66 - 2,403.68 165.00 2,600.00 100.00 (1,848.67) - (1,300.00) - (122.89) (94.97) (73.95) (59.75) 144.79 (3.15 1,640.63 107.13 64.78 (349.31 (96.56) 355.48 (31 .78) 6.17 156.87 189.36 (188.65) (183.19) (31.78) 6.17
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Notes:- 3 The above consolidated financial results have been prepared in accordance with Indian Accounting Standards as prescribed under Section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting standards) Rules as amended from time to time and other relevant provisions of the Act. 4 The above consolidated financial results have been reviewed and recommended by the Audit Committee and have been approved and taken on record by the Board of Directors al its meeting held on 10!11 October,2026. 5 The limited review as required under Regulation 33 and 52 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 has been completed by the auditors of the Group. 6 As at 30Ih September,2026, the holding company has the following subsidiaries: Subsidiaries Avenue E-commerce Limited Align Retail Trades Private Limited Avenue Food Plaza Private Limiled Reflect Healthcare and Retail Private Limited Nahar Selh & Jogani Developers Private Limited The Holding Company had investment in FP Ampere Energy Private Limited (inves tee) w.e.f 24th October, 2024 of 26%, however since the Holding Company does not exercise significant influence over financial & operating policy decisions of the investee, it is not being considered as an Associate Company . 7 The Group is primarily engaged in lhe business of retail trades through offiine and online channels. There are no separate repo~able segment as per IND AS 108 - Opera ting Segments 8 The Holding Company has a/lolled Commercial Papers which are listed on BSE Limited. Details of Commercial Papers are as follows: Particulars Credit Ralina Issue Date Maturitv Date Amount Discount Rate 10,000 Commerc ial Paper of, 5 Lakh each 6,000 Commercial Paper of , 5 Lakh each 4,000 Commercia l Paper of f 5 Lakh each 6,000 Commercia l Paper of , 5 Lakh each 6,000 Commercial Paper of , 5 Lakh each 4,000 Commercia l Paper or , 5 Lakh each 6,000 Comme rcial Paper of , 5 Lakh each 10,000 Commercial Paper or, 5 Lakh each 9 Formulae usod for calculation of kev ratios and financial indicators: ICRAA1+ by ICRA Limited ICRA Al+ by ICRA Limited ICRA A l + by ICRA Limited ICRA Al+ by ICRA Limited ICRA Al+ by ICRA Limited ICRA A 1 + by ICRA Limited ICRA A 1 + by ICRA Limited ICRA A1+ by ICRA Limited 10th April, 2026 09Lh June, 2026 30lh June, 2026 6th July, 2026 11th August, 2026 20th Augusl, 2026 8th September , 2026 30lh September, 2026 Ratios Numerator Borrowings (Including current and non current Debt-equity ratio (times) lease liabilities)+ Interest accrued bul nol due on Debt service coverage ratio (time s) Interest service coverage ratio (times) Current ratio (times) Long term debt to working capital Current liability ratio Total debts to total assets Trade receivables turnover (times) (nol annua lised) Inventory turnover (times) (not annualised) Operating margin (%) Net profit margin(%) borrowings Earnings available for debt service = Net profit after taxes + Non-cash operating expenses (deprec1at1on, t--mance costs & (gain)/loss on disposal of assets) Earnings available for debt service = Net profit afler laxes + Non-cash operating expenses (depreciation, Interest & loss on disposal of assets) Current Asset Non Currenl Borrowings + Non Current Lease Liabilities Current Liabilities Borrowings (Including current and non current lease liabilities)+ Interest accrued but not due on borrowings Net credit sales = Gross credit sales • sales return Cost of goods sold Earnings before finance costs, taxes, depreciation, amorlization expenses less Olher Income Net profit after lax 1 O Previous year/ quarte , figures a,e regrouped and rearranged wherever necessary. 29th June, 2026 , 500 crore 07Ih Seplember , 2026 , 300 crore 28Ih Seplember , 2026 , 200 crore 29Ih Seplember , 2026 , 300 crore 09Ih Novembe r, 2026 , 300 crore 18Ih November , 2026 , 200 crore 7th Decembe r, 2026 , 300 crore 29Ih December, 2026 , 500 crore Denominator Tola! Equity Debt service = Finance costs & Lease Payments + Principal Repayments Interest Expense Current Liabilities Current Assets - Current Liabilities Total Liabilities Total Assets Average Trade Receivable Average Inventory Revenc from Operations Revene from Operations 6.60 % p.a 7.18%p.a 6.70 % p.a 6.60 % p.a 6.70 % p.a 6.50 % p.a 6.40 % p.a 6.12 % p.a ~~, For and on behalf or th B, pre of Directors of Place: Thane SIGNED FOR IDENTIFICATION BY SR BC & CO LLP MUMBAI /\)-\JEN(/~~ Avonu Su eqnartslimitod l/ ,011 ·-~~ ~ v' , _1,.~'/J DIN: 11400809 (//// '<.\ ~ ✓-:_~✓ Date: 10th October ,2026