According to Forbes’s latest Richest Indian list, RK Damani is the 4th richest person in India, with a net worth of over $16.5 Billion, which is equivalent to over Rs 123,117 Crores.
RK Damani does not consider himself a highly educated person. He dropped out of college while pursuing B Com from the University of Mumbai. Before entering the stock market, RK Damani had a small ‘ball-bearing business. However, after the death of his father, he started working as a stockbroker in his family business. He was 32 at that time.
Therefore, unlike most tech entrepreneurs who start their startup journey in their 20s, RK Damani was a little late to join this journey but still was able to make it big.
Although RK Damani started his career as a stockbroker, he soon understood that if he wants to make real money from the market, then he needed to trade his own money in the market, instead of being just a broker. And soon he started trading in the Indian stock market.
RK Damani made a lot of profits from his trading in stocks. He was a very flexible trader and believed in making profits using different market swings. For example, during the Harshad Mehta scam, he made a lot of money by ‘Short-selling’ the stocks, which was not common at that time.
However, after getting influenced by value investor Chandrakant Sampat, later RK Damini changed his approach. He shifted to long-term value investing.
RK Damani made a lot of money by investing and holding multi-baggers stocks. A few best-performing stocks from his portfolio are VST Industries, Sundaram Finance, Indian Cement, and Blue Dart. He also invested in VST Industries at an average of Rs 85 and it is currently trading at Rs 3,466. Further, India cement gave a return of +115% to his portfolio.
Some other companies in RK Damani’s portfolio are Food & Inns Ltd, Simplex Infrastructure Ltd, Mangalam Organics, Spencer’s Retail, BF Utilities, Prozone Inty Properties, Kava Ltd, Astra Microwave products, etc.
RK Damani has been very interested in consumer retails for a long time. That’s why he opened D-mart in 2002 with one store in suburban Mumbai. Nevertheless, being a value investor, this was a very planned move by him.
In March 2017, D-Mart went public by offering its IPO, under the name of the parent company- ‘Avenue Supermarts’. The IPO was a big hit. Avenue supermart offered its shares to the public at a price of Rs 299 and got listed at Rs 604 after over-subscription. Currently, the shares of Avenue Supermarts are trading at Rs 4,250 per share, as of 06 October 2021.
Further, by 2021, D-Mart has over 234 stores spread across Maharashtra, Andhra Pradesh, Telangana, Gujarat, Madhya Pradesh, Chhattisgarh, Rajasthan, National Capital Region, Tamil Nadu, Karnataka, Daman and Diu, and Punjab. Dmart stores generated total revenue of Rs 23,787 Crores in the year ending March 2021.
Avenue Supermarts is primarily engaged in the business of organized retail and operates supermarkets under the brand name of D-Mart. D-Mart seeks to be a one-stop shopping destination for the entire family, meeting all their daily household needs. Let us also explore the is future opportunities the organized retail sector possesses.
Avenue Supermarts Ltd – Stock Analysis
Retail Sector Overview
D-Mart has shored up its store addition by adding 13 stores (8 in Q1 FY20 + 5 in Q2 FY20) of (0.6 mn sq.ft. addition) in the first half of FY2019-20 (vs. 5 stores in H1:FY19 and 21 stores in FY19). Thus, the total store count is 189 stores spread across 6.5 mn sq.ft.
We can get a clear idea of the earnings visibility of the company from the above projections and calculations.
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