Avenue Supermarket, the company which operates the D’Mart supermarket chain has an exemplary track record despite industry challenges. Costs have been kept low by acquiring property rather than renting. A direct play on rising domestic consumption Avenue Supermarket was a clear favorite with investors because of its business model and following of its promoter R.K. Damani who is a legendary investor. The covid 19 pandemic had deeply impacted the performance of the company and operations had normalized but with the second wave, most stores are recording restricted activity. There are two main growth triggers for the company – geographical expansion and increasing market share from unorganized sector. Strong balance sheet, aggressive management, good capital allocation policy and reasonable valuation due to recent underperformance makes Avenue Supermarket a compelling buy – 15-07-2021 Price: 3319.30 Rating: Over Weight Recommendation: Buy
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