Avenue Supermarts transitions to new leadership amid 500-store milestone
4 April 2026, Mumbai
Operator of the DMart retail chain, Avenue Supermarts, has formally completed its leadership transition with Anshul Asawa assuming the role of Managing Director and Chief Executive Officer on April 1, 2026.
A seasoned veteran with nearly three decades of experience at Unilever, Asawa succeeds Ignatius Navil Noronha following a meticulously planned year-long handover. This transition occurs as the firm crosses a historic operational threshold, reaching 500 stores nationwide as of March 31, 2026.
Financial momentum and apparel growth levers
The leadership change coincides with robust fiscal performance, as Avenue reported standalone revenue of Rs 17,204.50 crore for Q4 FY26, representing a significant double-digit increase over the previous year. For the full fiscal year, the company’s standalone revenue reached approximately Rs 66,968 crore, supported by a strategic focus on high-frequency essential categories and an expanding apparel portfolio. DMart’s soft goods segment, including private-label clothing and home textiles, continues to act as a critical margin-expander, helping the company maintain a 5.2 per cent PAT margin despite inflationary pressures in the global cotton and synthetic fiber markets. Asawa is expected to prioritize deeper penetration into Southern and Eastern India, while scaling digital commerce initiatives to compete in an Indian value retail market projected to grow at a 19.5 per cent CAGR through 2027.
Value retail dominance
Avenue Supermarts is India’s premier value retailer, operating the DMart chain focused on home and personal care, staples, and apparel. With 500 stores and a Rs 66,900+ crore FY26 revenue base, the company plans aggressive Tier II expansion. Founded in 2002, DMart remains a sector leader in operational efficiency and profitability.
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