New Delhi, April 7 Leading retail players reported strong double-digit revenue growth in the fourth quarter of FY26, driven by a stable demand environment and resilient macroeconomic conditions.
Listed retail companies such as Trent, Avenue Supermarts (D-Mart), and V-Mart reported around 20 per cent year-on-year growth in their latest quarterly updates, aided by aggressive store additions and steady consumption trends.
Trent, a Tata group firm, reported around 20 per cent growth in standalone (domestic) revenue to Rs 4,937 crore in the March quarter of FY26. This was up from Rs 4,106 crore in the corresponding January-March period a year ago.
"Revenue from the sale of merchandise (excluding other operating income) grew by 21 per cent and 19 per cent during the quarter and the year ended March 2026, respectively," said Trent, which operates popular fashion outlets under the Westside and Zudio retail formats.
Trent has opened 22 Westside stores and 109 stores of its value retail format, Zudio.
According to Elara Capital Executive Vice President Karan Taurani, Trent's standalone revenue growth of 20 per cent appears to be largely driven by strong store additions of 25 per cent YoY across both Westside and Zudio.
"In our view, a meaningful portion of the reported growth is likely attributable to network expansion rather than like-for-like (LFL) strength," he said.
A key takeaway from Trent's update is the sharp acceleration in Westside store additions, which grew 21 per cent year-on-year, marking the strongest expansion phase for the format in many years.
For the entire FY26, Trent's standalone revenue from operations was Rs 19,701 crore, up 18 per cent.
While Avenue Supermarts, which operates the D-Mart retail chain, reported a 19 per cent increase in standalone revenue to Rs 17,204.50 crore, compared to Rs 14,462.39 crore in the corresponding quarter.
The Damani-family promoted entity had a total of 500 stores as of March 31, 2026.
Value fashion retailer D-mart reported that its "total revenue from operations for the quarter stood at Rs 971 crore, compared to Rs 780 crore in the corresponding quarter of the previous year, reflecting a year-on-year growth of 24 per cent," it said.
V-Mart reported a sales growth of over 12 per cent for the quarter, having opened 29 and closed 6 stores during the period.
This resulted in a total operating portfolio of 577 stores as of March 31, 2026.
Similarly, leading FMCG (Fast-Moving Consumer Goods) companies reported resilient growth amidst a stable demand environment in the March quarter, posting healthy revenue expansion, even though geopolitical tensions in the Middle East markets remained a concern.
Companies such as Marico, Dabur, and AWL Agri Business (formerly Adani Wilmar) reported growth on both volume and value basis, driven by pricing actions, category momentum, and resilient domestic consumption, as well as growth from international markets, excluding the conflict area.
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