DMart MD, CEO Ignatius Navil Noronha’s term ends January 31, Anshul Asawa to take over

Avenue Supermarts Limited has informed that the tenure of its Managing Director and Chief Executive Officer, Ignatius Navil Noronha, will conclude on January 31, 2026. Consequently, Noronha will cease to hold office as Managing Director and CEO with effect from the close of business hours on that date.

Further, based on the recommendation of the Nomination and Remuneration Committee, the Board approved the appointment of Anshul Asawa as Chief Executive Officer and Key Managerial Personnel of the company with effect from February 1, 2026. Asawa will also be appointed as Managing Director for a term of three years starting April 1, 2026, subject to shareholders’ approval. Asawa is currently the CEO Designate of the company.

Asawa is an alumnus of IIT Roorkee and IIM Lucknow and joined DMart in March 2025 after a three-decade-long career at Unilever, where he held several senior leadership roles across India, Asia and Europe.

Separately, the company said it has designated four officials as Senior Management Personnel with effect from February 1, 2026, due to a change in reporting structure. These include Sachin Jaolekar, Vice President – FMCG, Dastgir Shaikh, Vice President – General Merchandising, Shyam Gupta, Head – Apparels, and Rushabh Ghiya, Head – Investor Relations and Chief of Staff.

In DMart’s third quarter, the company reported a healthy financial performance, with net profit rising 17% year-on-year to ₹856 crore from ₹733 crore in the corresponding quarter last year. Revenue grew 13.3% year-on-year to ₹18,101 crore compared with ₹15,972 crore, while EBITDA increased 20.2% to ₹1,463 crore from ₹1,217.5 crore. EBITDA margin for the quarter improved to 8.1% from 7.7% on a year-on-year basis.

Shares of Avenue Supermarts ended higher on the NSE on 9 January 2026, closing at ₹3,807, up 0.45%.

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