Pursuant to provisions of Regulation 34(1) of the SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015, enclosed please find herewith Annual Report for the Financial Year ....

23rd July, 2026 BSE Limited National Stock Exchange of India Ltd. Corporate Relationship Department Corporate Communications Department Phiroze Jeejeebhoy Towers, “Exchange Plaza”, 5th Floor, Dalal Street, Bandra – Kurla Complex, Bandra (East), Mumbai – 400 001 Mumbai – 400 051 BSE Scrip Code: 540376 NSE Scrip Symbol: DMART Sub: Notice convening the 26th Annual General Meeting and Annual Report of the Company for financial year 2025-26 Dear Sir/ Madam, Pursuant to provisions of Regulation 34(1) of the SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015, please find enclosed herewith Annual Report for the Financial Year 2025-26, including the Notice convening 26th Annual General Meeting (AGM) of the Company scheduled to be held on Wednesday, 19th August, 2026 at 11:00 AM through Video Conferencing/ Other Audio-Visual Means. The Annual Report is being sent through electronic mode to those Members whose e-mail addresses are registered with the Company or their respective Depositories. The aforesaid documents are also available on the website of the Company at www.dmartindia.com. Kindly take the same on record. Thanking You, For Avenue Supermarts Limited Ashu Gupta Company Secretary & Compliance Officer Encl: As above GOOD PRODUCTS GREAT VALUE 2025-26 ANNUAL REPORT AVENUE SUPERMARTS LIMITED Contents Key Highlights FY 2025-26 66,968 Corporate Overview Financial Statements Revenue from Operations 01 Good Products Great Value Standalone Accounts 02 About DMart 122 Independent Auditors’ Report 5,255 127 Annexure 1 to Independent cr 03 Core Values, Vision and Mission Auditors’ Report EBITDA 130 Annexure 2 to Independent 04 DMart Competency Framework Auditors’ Report 06 Presence and Expansion Strategy 132 Standalone Balance Sheet 3,224 133 Standalone Statement of cr 08 Key Product Categories Profit and Loss Profit After Tax 134 Standalone Statement of 10 Key Performance Indicators Cash Flows 136 Standalone Statement of 12 Message from the Chairperson Changes in Equity 500 14 Message from the Managing 138 Notes Director & CEO # of Stores 16 Environmental Focus at DMart Consolidated Accounts 186 Independent Auditors’ Report 22 Corporate Social Responsibility 15/1 192 Annexure 1 to Independent 34 Board of Directors Auditors’ Report # of States and Union Territory and NCR 192 Annexure 2 to Independent 36 Senior Leadership Team Auditors’ Report 194 Consolidated Balance Sheet 38 Corporate Information 85 195 Consolidated Statement of Statutory Reports Profit and Loss # of New Stores Added 196 Consolidated Statement of 40 Management Discussion and Cash Flows Analysis 198 Consolidated Statement of 42 Directors’ Report Changes in Equity 20.58 mn sq. ft. 200 Notes 62 Corporate Governance Report Retail Business Area 84 Business Responsibility & 248 Notice of the 26th Annual General Meeting Sustainability Reporting Good Products Great Value DMart has continued in its mission to fulfil customers’ everyday needs by providing good quality products at low prices. We continue to focus on further improving our operations and thus make it more convenient for our customers to shop in our stores. Our customer-centric approach has helped us achieve credible growth thus far. 2 About DMart | Core Values, Vision and Mission CORPORATE OVERVIEW STATUTORY REPORTS FINANCIAL STATEMENTS NOTICE OF THE AGM About DMart DMart was conceived by value investor Mr. Radhakishan Damani in the year 2000, who at the time was operating a single store in Maharashtra. With a mission to be the lowest-priced retailer in its area of operation, DMart has grown steadily over the years, and operates 500 stores in 15 States, 1 Union Territory and NCR. The Company has delivered stable performance across stakeholder metrics by focusing on financial fundamentals, with fortitude and strong conviction. OUR BEGINNING By the late 1990s, our founder, A focus on financial fundamentals, More importantly, from the very Mr. Radhakishan Damani, was already high levels of patience and strong beginning, he had the foresight to established as one of the more conviction have been the bedrock understand and strongly believed that successful and well-known value on which the Company’s values and any business needs the right blend of investors in the Indian equity markets. business direction have been built. entrepreneurship and professionalism. Through his investing style, he had Entrepreneurship to build and strengthen developed a very keen understanding DMart took eight years to start its first the concept in its formative years, and of the Indian consumer sector and ten stores. This wasn’t because of dearth professionalism to allow a committed its psyche. He was anxious to start a of investment opportunities, but more team to create, sustain and grow a business beyond investing, which would because of his belief in the importance scalable business model into the future. enable him to test his hypothesis about of validating the business model from the Indian consumer. After a couple of a perspective of both profitability and Today, DMart continues to focus on this years of introspection and research, scalability. His beginnings at DMart early belief system created during our he decided to start a grocery retail chain, were frugal. For a number of years since formative years. We have a good blend focusing primarily on the value segment. inception, DMart’s corporate operations of entrepreneurial spirit and high-quality were run from a small space carved out execution. We humbly attribute our DMart, our retail chain, was conceived from one of the early stores. He and his success to the values and the way of by him in the year 2000. Mr. Damani early leadership team worked together business thinking that our founder has imagined the retail business with the as one cohesive unit without any instilled in us. same values of simplicity, speed, and hierarchy or barriers. nimbleness that he espoused in his stellar investing career. Avenue Supermarts Limited | ANNUAL REPORT FY 2025-26 3 Core Values, Vision and Mission OUR CORE VALUES OUR VISION OUR MISSION Action It is our continuous endeavour to To be the lowest priced retailer in the investigate, identify and make available area of operation / city / region. Focus new products / categories for the To be focused about what I do. customer’s everyday use and at the ‘best’ value than anybody else. Motivated To have a strong drive towards achieving my goals. Enthusiastic To love what I do. Care Respect To respect every individual in the organisation, treat her/him with dignity and pay due consideration to make her/him believe that she/he makes a difference to the organisation. Listen To listen and resolve any employee / partner / customer grievance quickly and fairly. Truth Integrity To be open, honest and fair in all our relationships with highest level of personal and business integrity. 4 DMart Competency Framework CORPORATE OVERVIEW STATUTORY REPORTS FINANCIAL STATEMENTS NOTICE OF THE AGM DMart Competency Framework We defined 4RQC as a deliverable to cause-effect relationships on what works understand for all employees. Everybody our customers very early in our journey. and what does not. It is a great way to understands what a house is. It is our It is a single source of action for every bring direction on how to hire and how endeavour to simplify everything in our DMart Employee and its Partner to evaluate the performance of every business, including complex concepts. ecosystem. All Employees take a pledge employee. This framework is more a Our way of defining the competency to deliver the 4RQC promise through the guiding light for all existing leaders framework in simple terms of an invisible DMart Values of Action, Care and Truth. to ensure values, competencies and foundation on which competencies of outcomes are aligned. our people stand to deliver 4RQC to our The DMart Competency Framework customers is a reflection of the thinking was an idea that emerged ove [Showing first 8,000 characters — download PDF for full document]