Avenue Supermart: a compounding machine?

Hi @ranjan_r

This is the trend of Dmart Gross Margins over time. The average gross margin of the last 8 years is ~15%. Gross margins are just reverting to that.

Operating expense % has gone up by a few basis points as highlighted by you but not by a great amount but in retail a few basis points is meaningful esp in dmart.

The gross margin is expected to bob around 15% as far as i am concerned.

Best
Bheeshma

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