DMART

May 5 (Reuters) - ** India's DMart AVEU.NS fall 0.5% 4.038 rupees after posting drop in Q4 margins due to increasing competition from quick commerce firms and higher costs

** AVEU, on average, rated 'hold' and mean price target at 4,083.46 - data compiled by LSEG

MARGIN PRESSURE TO SUSTAIN IN FY26

** Goldman Sachs ("sell," PT: 3,400) says gross margin woes due likely to sustain in FY26, with rev growth unlikely to accelerate as food inflation may offset faster store expansion

** BofA ("underperform," PT: 3,725) says short-term and mid-term impact of competition on pricing and gross margins, especially in metro cities, needs to be seen

** J.P.Morgan ("neutral," PT: 4,150) cuts EBITDA estimates by ~2% on lower margin assumptions despite raising revenue estimates

** CLSA ("outperform," PT: 5,549) lowers FY26-27 earnings estimates to reflect higher near-term costs due to faster store additions

($1 = 84.3040 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru)

(([email protected]; Mobile: +91 9591011727;))

April 3 (Reuters) - Avenue Supermarts Ltd AVEU.NS:

• Q4 STANDALONE REVENUE AT 144.62 BILLION RUPEES

Source text: ID:nBSE4bPvVx

Further company coverage: AVEU.NS

(([email protected];;))

Feb 28 (Reuters) - Avenue Supermarts Ltd AVEU.NS:

• AVENUE SUPERMARTS LTD - GOT TAX DEMAND OF 1.1 MILLION RUPEES AND PENALTY OF 117,460 RUPEES

Source text: ID:nBSE9TLf7c

Further company coverage: AVEU.NS

(([email protected];))

Adds details paragraph 2 onwards

Feb 6 (Reuters) - Indian food and grocery delivery platform Zomato ZOMT.NS said on Thursday it will rename the company to "Eternal" and unveiled a new logo, a move that comes more than two years after it began using the new name internally.

Eternal would comprise its four major businesses - food delivery vertical Zomato, quick-commerce unit Blinkit, live events business District and kitchen supplies unit Hyperpure, the company said.

"We thought of publicly renaming the company when something beyond Zomato became a significant driver of our future," Founder Deepinder Goyal said in a letter to shareholders.

"Today, with Blinkit, I feel we are here," Goyal said.

The move marks a shift for the company, from when investors were skeptical about Zomato's acquisition of Blinkit in mid-2022, to quick commerce-led growth drawing increasing investor interest.

Blinkit as well as early bird Swiggy's SWIG.NS Instamart have driven a shift in the way Indians shop, and forced retailers such as Reliance Industries' RELI.NS JioMart as well as Amazon AMZN.O and Walmart's WMT.N Indian business to launch their own quick-commerce services.

(Reporting by Kashish Tandon in Bengaluru; Editing by Savio D'Souza and Mrigank Dhaniwala)

(([email protected]; 8800437922;))

Jan 22 (Reuters) - Avenue Supermarts Ltd AVEU.NS:

• COURT OF COLLECTOR (STAMPS) LEVIED TOTAL DEMAND OF 6.9 MILLION RUPEES

Source text: ID:nBSE3lHkhL

Further company coverage: AVEU.NS

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** Shares of DMart stores-operator Avenue Supermarts AVEU.NS fall 3.2% to 3,564.3 rupees

** Co posts ~5% rise in net profit to 7.24 bln rupees ($84 mln); but EBITDA margin contracts to 7.6% from 8.3%

** Systematix Institutional Equities analysts say margins hurt by bigger discounts, rising share of low-margin foods, slow growth in general merchandise and apparel, rising quick commerce competition

** ICICI Securities expects uncertainty and pressure on profitability to persist in the medium term

** At least 10 analysts cut price targets, per LSEG data

** Avg rating of 26 analysts is "hold" rating; median PT is 4,000 rupees -LSEG data

** Stock shed ~13% in 2024

($1 = 86.3000 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

(([email protected] ; ( +91 8078332441))

Updates

** Shares of DMart stores operator Avenue Supermarts Ltd AVEU.NS jump 12.1% to 4,045 rupees; best one-day pct gain since April 2017

** AVEU on Thursday said its Q3 standalone rev grew 17.5% to a record 155.65 billion rupees ($1.82 billion)

** Shares fell 30% in the three months ending Dec. 31, their worst ever quarterly fall

** Quick commerce-led concerns on Dmart's revenue/margins got sharply priced in over past 3 months; valuations favorable - Axis Capital

** Impact from quick commerce seems to be lower than previously feared - JP Morgan

** Shares see most active session in 6-1/2 yrs; more than 5.8 mln shares change hands, 7.1x their 30-day avg

** Analysts tracking AVEU rate it "hold" on avg - data compiled by LSEG

** AVEU shares dropped 13% in 2024

($1 = 85.7330 Indian rupees)

(Reporting by Nandan Mandayam and Ashna Britto in Bengaluru)

(([email protected]; Mobile: +91 9591011727;))

Jan 2 (Reuters) - Avenue Supermarts Ltd AVEU.NS:

• AVENUE SUPERMARTS - STANDALONE REVENUE FOR Q3 FY 2024-25 AT 155.65 BILLION RUPEES

Source text: ID:nBSE2zmtYV

Further company coverage: AVEU.NS

(([email protected];))

Adds analysts comments, details of bids, background on retail chain operators through out

By Nandan Mandayam and Kashish Tandon

Dec 12 (Reuters) - Indian budget retailer Vishal Mega Mart's $943 million IPO was fully subscribed on the second day of bids on Thursday, though a flood of recent offerings dulled retail investors' appetite for a company analysts say is immune to its bigger rivals' problems.

The issue got bids for 1.17 billion shares at the end of the second day of the three-day process, per exchange data, versus the 756.8 million shares on offer from existing shareholder Samayat Services. Vishal Mega Mart is not selling new shares.

The company, which sells clothes for as low as 99 rupees (just over $1) and groceries, is a relatively small player in India's $600 billion grocery and supermarket industry that is led by the likes of Reliance Retail, DMart AVEU.NS and Tata Group's Star Bazaar.

The big players, however, have struggled with high inflation curbing consumer demand and the rise of quick commerce companies as major rivals.

Meanwhile, Vishal Mega Mart, with 70% of its stores in smaller cities where quick commerce is nascent, is relatively insulated, said Narendra Solanki of brokerage Anand Rathi.

"Vishal Mega Mart is a proxy for rising aspirations in India's smaller towns and cities and stands to benefit from such customers upgrading to branded products from unbranded ones."

Still, retail investors were not as hungry for the IPO. The shares allocated to non-institutional investors were subscribed nearly four-fold, but the retail portion was subscribed just over one-fold.

That was due to the high number of offerings this week and Vishal Mega Mart reserving about 35% of shares for retail investors, the high end of the normal 10%-35% band, said Solanki.

The recent IPO offerings include fintech firm MobiKwik's ONEM.NS $67.4 million IPO on Wednesday, which was fully subscribed in just one hour. Retail investors had bid for 65 times the shares on offer, as on the second day of bidding.

India's IPO market has been bustling, with over 300 companies having raised $17.5 billion so far this year, more than double the amount raised last year, LSEG data showed.

Vishal Mega Mart's shares are likely to begin trading on Dec. 18.

($1 = 84.8600 Indian rupees)

(Reporting by Nandan Mandayam, Kashish Tandon and Chris Thomas in Bengaluru, writing by Indranil Sarkar; Editing by Savio D'Souza and Janane Venkatraman)

(([email protected]; 8800437922;))

** D-Mart stores operator Avenue Supermarts AVEU.NS falls as much as 3.7% to 3,676.9 rupees

** Goldman Sachs cuts PT from 4,000 rupees to 3,425 rupees, a 10.3% discount to last close; retains "sell"

** Says D-Mart's key competitive advantage of offering lowest prices for branded FMCG facing increasing pressure due to recent increase in discount by leading quick-commerce players

** Cuts AVEU's FY25 earnings estimates by 4.2% on lower rev growth

** Stock set to snap four straight quarters of gains

** AVEU rated "hold" on avg; median PT is 4,475 rupees, ~17% above current price - LSEG

** Stock last down 1.6%, extending YTD losses to ~8%

(Reporting by Anuran Sadhu in Bengaluru)

(([email protected]; +91 8697274436;))

By Dhwani Pandya and Aditya Kalra

NAVI MUMBAI, India, Oct 30 (Reuters) - Asia's richest man Mukesh Ambani is mimicking the strategy of popular Indian grocery startups to drastically change how his retail empire operates: from home deliveries that can take a day or two, his business is now targeting a 10-30 minute service.

Quick commerce has reshaped how Indians shop as Zomato, SoftBank-backed Swiggy and Zepto now promise deliveries from their neighbourhood warehouses within 10 minutes, even beating Amazon AMZN.O. These multi-billion-dollar quick commerce businesses, though loss-making, have disrupted sales of mom-and-pop stores and supermarkets as people opt for quick deliveries of everything from milk and chocolates to Apple AAPL.O iPhones.

The sector has become too hot, too fast for Ambani's Reliance RELI.NS to ignore, even though experts say its late entry will face challenges including a lack of small-scale warehouses and running the business from supermarkets focused on walk-in customers.

Datum Intelligence estimates quick commerce sales will hit $6 billion this year, up from just $100 million in 2020.

Reliance plans to leverage its 3,000 supermarkets in 1,150 cities for quick deliveries by deploying small teams operating from dedicated kiosks inside, according to three people familiar with its strategy and Reuters' visits to outlets near Mumbai, where the service was launched this month.

The sources provided previously unreported details of order volume targets, delivery plans and links to Reliance Retail's long-awaited IPO.

Reliance's bet is sparked by changing shopping trends. A recent Datum survey of 3,000 Indian quick commerce shoppers showed 36% had reduced shopping at supermarkets and 46% cut back purchases from mom-and-pop stores.

"Reliance is making an entry as quick commerce is already impacting modern retail and will also impact Reliance stores," said Satish Meena, an adviser at Datum.

Reliance is aiming for a 10-30 minute delivery window because it does not believe customers need orders within 10 minutes and the longer timeframe will help ensure the business is sustainable, said the first person.

Ambani wants to ensure quick commerce helps bolster its business ahead of an IPO of Reliance Retail, which was last year valued at $100 billion, has backers including KKR KKR.N, two of the sources said.

Reliance runs the biggest brick-and-mortar retailer in India's $600 billion grocery market, though it still plays catch-up with Amazon in e-commerce.

Reliance did not respond to Reuters' queries.

CHALLENGES

Reliance is betting a wider product portfolio at its supermarkets - some of which stock more than 10,000 items - will help distinguish its offering from smaller rivals, though it has decided not to add any new warehouses, the sources said.

Once expanded nationwide in coming months, Reliance expects quick commerce to help take daily orders on its JioMart app from around 200,000 now to roughly 500,000, said the second person.

Like he did with mobile data offerings, Ambani has a strong reputation of using cutthroat pricing to disrupt businesses he enters. But cracking quick commerce will not be easy.

Rahul Malhotra, a senior analyst at Bernstein, said quick commerce needs neighbourhood warehouses for fast deliveries under 10 minutes, so any large retailer will need to offer superior product selection and cheaper pricing to ensure customers are willing to wait for up to 30 minutes.

A former Reliance executive who declined to be named for fear of reprisal said many stores are multi-storied and items are located far from each other on shelves, making quick packaging difficult, a task further complicated by in-store crowds.

Inside two Reliance stores in Navi Mumbai, Reuters found distinct "Q-Commerce" areas have been created for stocking frequently ordered items such as noodles, dairy products and chocolates. Riders outside waited for app alerts to pick up orders.

Ajit Karande, a Reliance store manager, said an eight-member team had been tasked to "completely focus on quick commerce", adding "we need to bill and pack the items within 10 minutes."

Earlier visits to IPO-bound Swiggy's SWIG.NS Instamart and Zomato's ZOMT.NS Blinkit warehouses by Reuters showed workers there are mandated to pack orders in under two minutes.

'TOP RIDER', 'BOTTOM RIDER'

The rapid quick commerce growth appears to be hitting the supermarket business.

Reliance Retail, which does not break down its grocery, fashion, electronics and telecom revenue, in October reported its first quarterly revenue decline in at least three years - a 1.1% fall in July-September sales to $9 billion.

Zomato's Blinkit sales surged 122% to $730 million in that period and recorded average growth of 103% in the last six quarters, when Reliance Retail's average stood at 13%, Bernstein said. But Reliance has reported profits for years, while Blinkit remains loss-making.

While Reliance has not commented on quick commerce stress, its rival DMart AVEU.NS, which has 377 supermarkets, said this month it can "clearly see the impact of online grocery formats" on its big-city stores but has declined to compete in that area, leading several analysts to downgrade the stock.

Reliance's "Hyperlocal" grocery service has begun in a handful of Navi Mumbai and Bengaluru stores and will next be launched in cities like New Delhi and Chennai, a fourth source said, adding there was a plan to incentivise its delivery drivers with weekly bonuses to boost the business.

The company also plans to rope in quick delivery startup Dunzo, in which it holds a near 26% stake, to further beef up its delivery fleet, said a fifth source. Dunzo declined comment.

To lure customers and trump rivals, Ambani is using free delivery.

In Mumbai, customers can use Reliance's JioMart app to get a 40 rupees ($0.48) can of Coca-Cola delivered free. Rivals impose levies such as "small cart fee" and "high demand surge" of up to 65 rupees on such an order.

At the Reliance store in Belapur near Mumbai, riders are tracked by the minute. A whiteboard inside names "Top Picker" and "Top Rider" to acknowledge efficiency, and "Bottom Picker" and "Bottom Rider" for slow work.

A "customer order has to be delivered in 30 minutes," said Supriya Naik, a JioMart delivery executive.

"I need to run around a lot."

($1 = 84.0610 Indian rupees)

(Reporting by Dhwani Pandya and Aditya Kalra; Additional reporting by Jatindra Dash in Bhubaneshwar; Editing by Jamie Freed)

(([email protected];))

** Shares of Avenue Supermarts AVEU.NS fall as much as 9.5% to 4,140 rupees, lowest since March 21

** DMart stores operator's rev growth slows to 4-year low of 14% in Q2, while EBITDA margin contract on higher operating costs

** Systematix Institutional Equities says offline operating rev was subdued; store opening rate remained weak

** Antique Stock Broking says increasing online competition, especially quick commerce, hurt revenue

** Stock cuts YTD gains to 3%

(Reporting by Ashna Teresa Britto in Bengaluru)

(([email protected] ; ( +91 8078332441))

** India's Avenue Supermarts AVEU.NS drops 3%

** Operator of DMart stores posts 14.2% y/y rise in Q2 revenue vs 18.5% rise in Q1

** Rev growth moderation "disappoints" JP Morgan; negative surprise for Morgan Stanley

** Moderation could be on extended rainfall, supply chain disruptions, JPM says, citing own checks

** Macquarie flags slower-than-expected store additions

** Analysts avg rating on AVEU is "hold" -LSEG data

** YTD stock has gained ~18%

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

Oct 3 (Reuters) - Avenue Supermarts Ltd AVEU.NS:

• STANDALONE REVENUE FROM OPERATIONS FOR QUARTER ENDED SEPT 30 STOOD AT 140.5 BILLION RUPEES

Source text for Eikon: ID:nBSE3qbj3t

Further company coverage: AVEU.NS

(([email protected];;))

** Bernstein starts coverage of supermarkets operator Dmart AVEU.NS, fashion retailer Trent TREN.NS, Jubilant FoodWorks JUBI.NS, Devyani International DEVY.NS with "Outperform"

** Says Dmart has "clear value positioning"; Trent benefiting from private label portfolio

** Dominos India franchisee Jubilant and KFC India operator Devyani to see boost from revival in fast food demand, menu innovation, expansion

** Consumers beyond the top 10% of income pyramid and outside the top 40 cities to boost retail, restaurant sectors: Bernstein

** Brokerage however rates fashion retailer Aditya Birla Fashion & Retail ADIA.NS and McDonald's operator Westlife Foodworld WEST.NS "Underperform"

** Rigid cost structure to weigh on WEST profitability; debt overhang and weak growth in legacy brands to hurt ADIA - brokerage

** Starts Pizza Hut operator Sapphire Foods SAPI.NS with "Marketperform", citing high valuations

** FMCG index .NIFTYFMCG is up 10.14% in 2024, underperforming the 15.3% rise in Nifty 50 .NSEI

** TREN up 6%, DEVY up 1.2% while AVEU is trading 0.2% lower; ADIA, JUBI, WEST, SAPI down 0.3%-1.6% - Exchange data

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

BENGALURU, July 24 (Reuters) - Indian textiles firm Trident TRIE.NS reported a 21% fall in its first-quarter profit on Wednesday as it struggled to keep a tight lid on expenses amid rising cotton prices.

The company supplies to stores including Shoppers Stop SHOP.NS, DMart AVEU.NS and online retailers Flipkart and Myntra.

Cost of cotton, a key raw material for Trident, has been elevated for more than a year, hurting profits.

Trident reported a consolidated net profit of 737.3 million rupees ($8.8 million) for the quarter ended June 30, compared with 934 million rupees a year earlier.

The company's revenue from operations rose 17% to 17.43 billion rupees during the quarter from a year ago.

However, cost of raw materials rose nearly 18% during the quarter, causing a near 20% surge in total expenses.

This ate into the company's profit.

Trident's core yarn segment, the key revenue contributor, saw a 49% surge in revenue. The smaller paper and chemicals segment saw a near 5% drop in revenue, as paper prices continued to be under pressure due to heavy imports.

Shares of Trident closed 1.3% higher ahead of results.

($1 = 83.6810 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Mrigank Dhaniwala)

(([email protected];))

** Shares of India's Avenue Supermarts AVEU.NS rise as much as 4.5% to 5,164 rupees before paring some gains

** Operator of retail chain DMart posted 17.5% rise in Q1 profit over the weekend; shares last up ~1%

** Brokerage Macquarie, which has an "outperform" rating on the co, says Q1 in line

** Pick-up in general merchandise drive belief in DMart's ability to reverse apparel weakness - Macquarie

** Operational metrics improved, Q1FY25 rev/store higher than the same qtr over FY19-24, says Morgan Stanley

** Morgan Stanley rates co "overweight"; avg rating of 23 analysts on the co "hold" - LSEG data

** At least 10 brokerages covering the stock raised PTs on the company after results - LSEG data

** YTD stock had risen 21%

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

BENGALURU, July 13 (Reuters) - India's Avenue Supermarts AVEU.NS, the operator of the DMart retail store chain, posted a 17.5% rise in first-quarter net profit on Saturday.

It reported a consolidated net profit of 7.74 billion Indian rupees ($92.68 million) for the three months ended June 30 versus 6.59 billion a year earlier.

Its revenue grew 18.5% to 140.69 billion rupees.

DMart has more than 350 stores in India. Its supermarkets offer a wide range of items from food to footwear and home appliances.

It competes with Reliance Industries' RELI.NS retail unit, e-commerce companies such as Amazon AMZN.O and many mom-and-pop stores across India.

(Reporting by Ashna Teresa Britto in Bengaluru; editing by Aditya Kalra and Jason Neely)

(([email protected];))

July 2 (Reuters) - Avenue Supermarts Ltd AVEU.NS:

• AVENUE SUPERMARTS - STANDALONE REVENUE FROM OPERATIONS FOR QUARTER-ENDED JUNE 30 AT 137.12 BILLION RUPEES

Source text for Eikon: ID:nBSELvpYm

Further company coverage: AVEU.NS

(([email protected];))

NEW DELHI, May 4 (Reuters) - India's Avenue Supermarts AVEU.NS, which operates the DMart chain of retail stores, reported a 22.4% rise in fourth-quarter profit on Saturday helped by rising footfall in its stores that sell groceries and apparel below the maximum retail price.

The retailer, known for discounts on everything from food to clothes, reported a consolidated net profit of 5.63 billion rupees ($67.5 million) for the quarter ended March 31, up from 4.60 billion rupees a year ago.

Consolidated sales increased 20% in the fourth quarter, compared with 17.3% in the prior quarter, helping to boost the retailer's bottom line.

Its provision of products at affordable prices has attracted inflation-weary consumers.

The Mumbai-based company's earnings before interest, taxes, depreciation and amortization (EBITDA) margin rose to 7.4% in the quarter from 7.3% in the year-ago period.

DMart's consolidated revenue rose to 127.27 billion rupees from 105.94 billion rupees in the year-ago quarter.

During the fourth quarter, DMart opened 24 stores across the country, and had a total of 365 stores as of March 31.

Shares of Avenue Supermarts rose about 11% during the March quarter; it closed 0.2% higher on Friday.

(Reporting by Arpan Chaturvedi; editing by Giles Elgood)

(([email protected];))

May 1 (Reuters) - Avenue Supermarts Ltd AVEU.NS:

• AVENUE SUPERMARTS LTD -GETS TAX DEMAND OF 23 MILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: AVEU.NS

(([email protected];))

April 3 (Reuters) - Avenue Supermarts Ltd AVEU.NS:

• STANDALONE REVENUE FROM OPERATIONS FOR QUARTER ENDED MARCH 31 STOOD AT 123.93 BILLION RUPEES

Further company coverage: AVEU.NS

(([email protected];))

** Shares of DMart parent Avenue Supermarts AVEU.NS up as much as 4% to 4,330.50 rupees, extending gains to the fifth straight session

** AVEU up nearly 6% in last four sessions; set for its biggest weekly jump since mid-June

** Stock among top gainers on Nifty 100 index .NIFTY100

** More than 785,000 shares trade, making Friday's session its second busiest so far this month

** Avg rating of 24 analysts is 'hold', median PT is 4,082 rupees - LSEG

** Stock up 5.7% YTD vs Nifty 100 index's 3.5% rise

(Reporting by Rama Venkat in Bengaluru)

(([email protected]; https://twitter.com/ramavenkat0607;))

** Shares of DMart-parent Avenue Supermarts AVEU.NS rise 4.5% to 4,238 rupees, highest since Nov 2022

** CLSA initiates coverage with "buy" and Street-high PT of 5,107 rupees

** Brokerage notes DMart's low prices have been a key competitive advantage allowing it to gain market share in grocery retail between 2014-2023

** Sees potential for over 7,000 DMart stores in urban India in the next 25 years from 341 currently

** Over 846k shares traded, 2.4x the 30-day avg

** Avg rating of 24 analysts on AVEU is "hold"; median PT is 4,082 rupees - LSEG data

** Stock up over 6% so far in March, on pace for best monthly gain since Nov

(Reporting by Ashna Teresa Britto in Bengaluru)

(([email protected] ; ( +91 8078332441))

By M. Sriram

MUMBAI, March 12 (Reuters) - India's Vishal Mega Mart is planning a $1 billion initial public offering that would value the budget supermarket chain at up to $5 billion with some of the proceeds earmarked to add stores, two people with direct knowledge of the plan said.

Switzerland's Partners Group PGHN.S and India's Kedaara Capital, which together have a majority stake in Vishal Mega Mart, will each sell shares in the offering, said the people, declining to be identified as the discussions were private.

It was not immediately clear exactly how much of Vishal Mega Mart the two private equity firms own, how much they would sell and if they would retain a majority holding.

Vishal Mega Mart Chief Executive Gunender Kapur did not respond to Reuters requests for comment. Kedaara also did not respond while Partners Group declined to comment.

The retailer has 560 stores, mainly in smaller cities, that sell clothes and grocery items. It competes with Indian tycoon Mukesh Ambani's Reliance, Tata Group's Trent and grocery retailer Avenue Supermarts AVEU.NS.

Investment banks have been invited to pitch for the IPO this week and the offering is likely to take place later this year, the people said.

The plans come at a time when Indian stock markets are trading near record highs and the benchmark NIFTY index has climbed 12% over the last six months.

Bankers and analysts expect IPO activity in India to gain pace amid rapid economic growth and a stable political environment with Prime Minister Narendra Modi likely to easily win a third term in an election due by May.

Vishal Mega Mart's revenues jumped 36% to 75.9 billion rupees ($917 million) in its last financial year ended March 2023, while net profit surged 60% to 3.2 billion rupees, according to a report by Fitch-owned India Ratings.

India's retail market could be worth $2 trillion by 2033 compared with about $840 billion currently, according to estimates from Boston Consulting Group.

Brick-and-mortar businesses continue to dominate most of the country's retail sector despite the rise of e-commerce platforms like Amazon AMZN.O and at the lower end of the market, consumers are increasingly shifting from roadside unbranded shops to chains.

Vishal Mega Mart, which sells T-shirts from as low as 99 rupees ($1.5) and jeans from $9, gains about half of its sales from apparel, according to the sources. It also sells home appliances and luggage in addition to groceries.

Partners Group and Kedaara acquired Vishal Mega Mart for about $350 million in 2018 from rival buyout firms TPG and India's Shriram Group.

(Reporting by M. Sriram; Editing by Aditya Kalra and Edwina Gibbs)

(([email protected];; Reuters Messaging: Twitter: @followthemani))

Feb 13 (Reuters) - Avenue Supermarts Ltd AVEU.NS:

• GETS ORDER IMPOSING PENALTY OF 90.1 MILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: AVEU.NS

(([email protected];))

Adds currency in paragraph 2

BENGALURU, Feb 6 (Reuters) - Indian textiles firm Trident Ltd TRIE.NS posted a nearly 25% drop in its third-quarter profit, hurt by a rise in expenses, even as consumers bought more home linen during the festive season.

Trident - which counts cotton as its primary raw material - said its total expenses jumped 16% for the quarter ended Dec.31, with costs of raw materials climbing about 9%. This ate into its profit, which fell to 1.09 billion rupees.

Shares of Trident - which supplies products to department stores such as Shoppers Stop SHOP.NS, D-Mart AVEU.NS and Walmart WMT.N - closed 2.6% lower after the results.

India's festive season coincided with the third quarter, with consumers spending more on home linen items such as bedsheets. This helped Trident report a 12% jump in revenue to 18.35 billion rupees ($220.99 million).

The company, which is also engaged in manufacturing paper and chemicals, said revenue from its yarn and bedsheets segment rose about 25% and 36%, respectively, while its towels division fell 8%.

All three segments made up 86% of the total revenue.

($1 = 83.0343 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Sonia Cheema)

(([email protected]; X: @MukherjeeHritam;))

Feb 1 (Reuters) - Avenue Supermarts Ltd AVEU.NS:

• RECEIVED NOTICE FROM JOINT DISTRICT REGISTRAR CLASS-1 AND COLLECTOR OF STAMPS, PUNE CITY

• NOTICE FOR PENALTY OF 2.5 MILLION RUPEES IN ADDITION TO DEMAND FOR PAYMENT OF DEFICIT STAMP DUTY OF 4 MILLION RUPEES

Source text for Eikon: ID:nNSE6X9f5p

Further company coverage: AVEU.NS

(([email protected];))

Jan 2 (Reuters) - Avenue Supermarts Ltd AVEU.NS:

• AVENUE SUPERMARTS LTD - TOTAL NUMBER OF STORES AS OF DECEMBER 31, 2023 STOOD AT 341

• AVENUE SUPERMARTS LTD- STANDALONE REVENUE FROM OPERATIONS FOR QUARTER ENDED DEC 31 STOOD AT 132.47 BILLION RUPEES

Source text for Eikon: ID:nBSE62D2MK

Further company coverage: AVEU.NS

(([email protected];))

Avenue Supermarts Ltd AVEU.NS:

• AVENUE SUPERMARTS LTD- GOT ORDER FOR TAX DEMAND OF 18.1 MILLION RUPEES

Source text for Eikon: ID:nBSE6S43sX

Further company coverage: AVEU.NS