Q. Who is the owner of D-Mart?

A. Radhakishan Damani is the main founder and the main brain behind D-Mart.

Who is Radhakishan Damani?

Radhakishan Damani was born on March 15th, 1954 to an Indian Marwari family.

He was born and brought up in Bikaner, Rajasthan.

He is one of the few self-made billionaires in the country and is currently ranked as India’s 7th richest man.

He dropped out of college while he was pursuing a B.Com from the University of Mumbai.

He had his very own stock broking business when he was 32 years old.

Although RK Damani was a little late to start his career, he still made it big.

RK Damani’s Stock Market Career:-

At the age of 32, when his father died, he started his journey as a stock broker.

Soon he realized that he needed to earn his own money, so he started trading in the Indian Stock Market instead of just being a mere broker.

He made huge profits and was a very flexible trader. He also made a lot of profits during the “Harshad Mehta Scam” by short-selling the shares, which was not so common at that time.

Suddenly, he changed his approach to trading and shifted to long-term value investing after being highly influenced by value investor Chandrakant Sampat.

The veteran investor Rakesh Jhunjhunwala considers him his GURU (mentor) in the Indian Stock Market.

R.K Damani earned thousands of rupees by investing in multi-bagger stocks. Some of the main stocks that are included in his portfolio are Century Textiles, India Cement, Blue Dart, TV Today Network, Jubilant Footwork, 3M India, BF Utilities, etc.

R.K Damani’s Journey of Becoming a Business Man:-

Before entering the stock market business, R.K. Damani had a small ball-bearing business.

After achieving a lot of success in the stock market, he suddenly decided to quit the market in 2001 and decided to enter the retail industry.

In 2002, he launched the D-Mart supermarket and hypermarket chain in Powai, Mumbai.

In 2017, he announced the IPO of D-Mart under the name “Avenue Supermarkets Ltd.” which was oversubscribed.

He also purchased an Rs. 1000 crore house in the South Mumbai’s affluent Malabar Hills and has been in talks since then.

What is D-Mart?

The company was started as a supermarket and hypermarket chain in 2002 in Mumbai.

The company has its headquarters in Mumbai.

The company is set to offer a wide range of products, starting from personal needs to home necessities, all under one roof.

The store offers several home utility products like toys, beauty products, clothes, footwear, crockery, food, toiletries, bath, linen, etc.

Working with the main objective of offering customers good products at a great value, the number of stores across the country has increased to 234, including states like Gujarat, Maharashtra, Madhya Pradesh, Rajasthan, Daman & Diu, Karnataka, etc.

The D-Mart supermarket chain is operated by “Avenue Supermarkets Ltd. (ASL)”.

The success of D-Mart is focused on three things:

  1. Employees
  2. Vendors
  3. Customers

Some of the financials of the company are as follows:

Revenue30,493.37 crore
Net Profit1616.17
Earnings Per Share (EPS)24.95
Share Price (June 2022)3825

Other facts about R.K Damani:-

He considers himself both a trader and an investor. He simply trades in market swings and invests when he thinks that a particular stock will gain his long-term value.

He is also known as “Mr. White and White” because he is always seen wearing a white shirt and white trousers.

Personally, he is very low-profile as he leads a very simple life and avoids all the public gatherings and the media.

R.K Damani’s entry into the top 100 global billionaires’ club:

R.K Damani is now ranked 98th on the Bloomberg Billionaires Index with $19.2 billion as his net worth. This index is the daily ranking of the world’s richest people.

The other Indians in the top 100 rich list that are ahead of Damani are Mukesh Ambani, Gautam Adani, Laxmi Mittal, Azim Premji, etc.

Conclusion:

R.K. Damani has his own success story, and so can you. The above are the known facts about R.K. Damani, the owner of D-Mart.

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Author

Prashant Raut is a successful professional stock market trader. He is an expert in understanding and analyzing technical charts. With his 8 years of experience and expertise, he delivers webinars on stock market concepts. He also bags the ‘Golden Book of World Record’ for having the highest number of people attending his webinar on share trading.