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Today's prices ask more of DMart than of Trent.
At current prices, buyers of DMart are assuming about 32% growth against 19% in its own record; for Trent it is 35% against 35%. That shows which share needs more to go right — not which is cheaper. How far each trades from its estimated fair value is in the full valuations.
- Valuation method: both on discounted cash flow.
- Size: DMart is worth about 1.3 times Trent on the stock market.
- Record: Trent has grown revenue faster: DMart compounded at about 21% a year (FY2018–FY2026) and Trent at about 32% (FY2018–FY2026).
- What to watch: store openings at DMart; zudio store growth at Trent.
| DMart | Trent | |
|---|---|---|
| Price | ₹3,439 | ₹3,165 |
| Market cap | ₹2.24L Cr | ₹1.69L Cr |
| P/E | 72.0 | 89.0 |
| P/B | 9.17 | 24.16 |
| Fair value 🔒 sign in | ₹0,000 | ₹0,000 |
| Upside 🔒 sign in | +00% | +00% |
| Valued on | Discounted cash flow | Discounted cash flow |
01Two businesses
Everyday low prices, owned stores
DMart is run by Avenue Supermarts, founded by Radhakishan Damani, which opened its first store in Mumbai in 2002. It sells groceries, household goods and basic apparel at everyday low prices, and also runs DMart Ready for online orders.
Zudio, Westside and the Tata name
Trent is the Tata group's retail company. Westside sells mid-priced fashion and home goods under its own brands, and Zudio sells value fashion at very low prices from a rapidly growing chain of stores across India.
02The records side by side
Trent has grown revenue faster: DMart compounded at about 21% a year (FY2018–FY2026) and Trent at about 32% (FY2018–FY2026). By revenue, DMart is about 3.4 times the size of Trent. DMart kept 4.3% of revenue as net profit in FY2026; Trent kept 8.6% of revenue as net profit in FY2026. DMart was profitable in every year shown; Trent reported a net loss in FY2021.
Full ten-year tables and charts are on each company's page: DMart · Trent.
03What each price assumes
Work backwards from each share price and you can see what buyers are taking for granted — the rate each company must sustain to justify what it costs, against what its own record supports.
04What decides each one's value
- Store openingsNew stores are the main source of growth, and each costs a lot because DMart usually owns the property.
- Same-store growthSales growth in existing stores shows whether the model still works as competition rises.
- Zudio store growthNew Zudio stores are the main engine of growth.
- Same-store salesWhether older stores keep growing shows how durable demand is.
05What could go wrong
- Quick-commerce competitionFast delivery apps are taking some urban grocery spending.
- Slower store expansionFinding and buying suitable sites takes time.
- Slowing growthAny slowdown matters a lot when the price assumes rapid growth.
- Competition in value fashionReliance and others are expanding their own low-price fashion chains.
06Which is better value?
Sign in free to see which trades further below its worth
- ✓Both fair values per share — each on the method that fits the business
- ✓Every step of both workings — growth, margins and cost of capital, with sources
- ✓Bull, base and bear cases — for each company
- ✓Downloadable reports — the full write-up for each, yours to keep
08Questions people ask
Is DMart or Trent better value?
That turns on how far each share trades from its estimated fair value. Both figures, with every step of the working, are in the full valuations, free to view once you sign in. On the public numbers, DMart trades at 72.0 times earnings and 9.17 times book value, and Trent at 89.0 times earnings and 24.16 times book value — but multiples alone mislead when two businesses work differently, which is why each is valued on the method that fits it.
What is the difference between DMart and Trent?
DMart is run by Avenue Supermarts, founded by Radhakishan Damani, which opened its first store in Mumbai in 2002. Trent is the Tata group's retail company.
Are DMart and Trent valued the same way?
Yes — both on discounted cash flow, so their workings compare like for like.
What does today's price assume for DMart and Trent?
Worked backwards from the share price, DMart needs about 32% growth and Trent about 35% growth, against 19% and 35% in their own records.