Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - FY26 revenue close to INR67,000 Cr, EBITDA margin about 7.8%, PAT margin about 4.8% - Like-for-like store growth for stores older than 2 years was 8.1% in FY26 - Store additions target around 15% annually; 85 stores added last year with 68 leased stores total - DMart Ready e-commerce focused on 11 cities with 6-hour delivery, aiming for sustainable profitability - Metro stores facing saturation and competition, impacting same-store sales growth; Tier 1/2 stores showing better ramp-up - Gross margin stable at 14-15%, staff costs increased due to capability building and wage code implementation - Capex funded by internal accruals and debt; INR1,000 Cr NCD approved to reduce borrowing cost - No plan to integrate online and offline businesses; focus on profitable growth and operational rigor - Management focused on technology upgrades and building organizational capabilities for scale