<ul data-eligibleForWebStory="false">DMart's revenue grew 16.2% YoY to Rs 159.3 billion in Q1 FY26.HDFC Securities maintains an 'Add' rating for DMart despite margin disappointment, with EPS estimates cut for FY26/27 by ~3/2% respectively.Challenging competitive landscape and store addition pace with margin improvement are key monitorables for DMart.