Nuvama cuts Avenue Supermarts stock target from INR 4,174 to INR 3,784

Published on 10/14/2026 at 05:08 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Revenue rose 17.8 percent in the second quarter, but margin fell to 7.1 percent. For Avenue Supermarts stock, targets span INR 3,214 to INR 5,000.

Broker targets and margins

Nuvama cut its Avenue Supermarts target from INR 4,174 to INR 3,784 on October 11, 2026.
Revenue rose 17.8 percent in the second quarter, while EBITDA margin fell to 7.1 percent.
Avenue Supermarts had a market capitalization of INR 2.2 trillion on October 13, 2026.

Avenue, INE192R01011, Illustration mit AI erstellt.

Avenue Supermarts (INE192R01011) faced a lower broker target after its second-quarter results, with Nuvama cutting its target from INR 4,174 to INR 3,784 in a research report dated October 11, 2026. The retail operator reported higher sales but weaker profitability metrics.

Three dates shape the update

On October 10, 2026, Avenue Supermarts reported consolidated revenue of INR 19,644 crore for the second quarter, up 17.8 percent year over year, while consolidated net profit rose 8.5 percent to INR 743.5 crore, according to CNBC TV18.

On October 11, 2026, Nuvama retained its Hold rating while cutting the target from INR 4,174 to INR 3,784, according to The Economic Times.

On October 12, 2026, Prabhudas Lilladher cut its rating from Hold to Reduce and lowered its target from INR 4,027 to INR 3,214, citing competition from quick-commerce platforms and limited pricing power, according to Moneycontrol.

What changed after Q2 results?

The sales increase did not translate into equal profit growth. Standalone revenue rose 18.4 percent to INR 19,206 crore in the second quarter, while EBITDA increased 14.0 percent to INR 1,403 crore and the EBITDA margin declined to 7.0 percent from 7.6 percent a year earlier, according to CNBC TV18.

The contrast is also visible in store productivity. Avenue Supermarts opened 15 stores during the quarter and ended it with 518 stores, while like-for-like growth reached 9.5 percent, according to CNBC TV18.

Broker caution meets store expansion

Analyst views remain divided. ICICI Securities kept a Hold rating and a target of INR 3,700 while noting that the EBITDA margin contracted 28 basis points year over year, according to Moneycontrol.

On October 13, 2026, Avenue Supermarts last traded at INR 3,383 on the NSE at 3:28 p.m. IST. Its market capitalization was INR 2.2 trillion, and its 52-week range was INR 3,345.90 to INR 4,644.