The company accelerated its store addition pace with opening of 13 D-Mart stores in Q4FY21 (FY21: 22 stores). Capex also crossed last year's figure (| 2029 crore vs. 1712 crore in FY20). CWIP was at ~ | 1020 crore vs. | 364 crore in FY20, which indicates healthy store addition pipeline in FY22E. The company added ~1 million square feet during the year and also converted two stores to fulfilment centres (FC) to scale up its e-commerce business. Following subdued store addition pace in FY21E, we expect it to make up for the same in FY22E. We bake in 80 incremental stores in FY22-23E...