DMart reported revenue growth of 22%YoY (below expectation) supported by recovery in footfalls along with strong store additions in recent quarters. The recovery momentum which was witnessed from Q4FY21 had slowed subsequently due to Covid 2nd wave. Now, the short-term demand outlook is again under pressure due to resurgence of Covid cases in recent months as the footfall will be dependent on local regulations. However, DMart's strong store additions will support future growth when the economy normalises. The recent QIP of Rs.4,098cr is supporting acceleration in store additions. DMart has added 17/29 stores in Q3/9MFY22 & 60 stores in last 2Yrs....