DMart shares fall 4% after Q1 results. What are Motilal Oswal, other brokerages saying?

DMart shares fell 4% after its Q1 FY27 results showed moderating growth, with revenue up 14.9% YoY at Rs 18,794 crore and PAT up 11% at Rs 860 crore, while EBITDA margin was largely flat at 8%. Brokerages flagged flat same-store sales in metro stores due to rising quick-commerce competition, slower store additions (only 3 versus 9 a year ago), and a slowdown in DMart Ready. Motilal Oswal stayed Buy with a target of Rs 4,800, while Emkay reiterated Sell with a target of Rs 3,700, and HDFC Securities trimmed FY27/FY28 earnings estimates by around 3% and 2%.