D-Mart Founder- RK Damani Success Story [Bio, Facts, Net worth & More]
D-Mart Owner RK Damani Success Story: Radha Kishan Damani or RK Dami is a Mumbai based billionaire investor, businessman, and owner of the mega-retail chain stores “D-Mart” in India. The veteran investor Rakesh Jhunjhunwala considers him as his guru (mentor) in the Indian share market. Here are some interesting facts about RK Damani
- Current Age: 66 (Born 1954)
- Net worth: $15.5 Billion
- Occupation: Trader, Investor, Businessman
- Status: Self-Made Billionaire
According to Forbes’s latest Richest Indian’s list, RK Damani is the 7th richest person in India, with a net worth of over $15.5 Billion, which is equivalent to over Rs 116,200 Crores.
RK Damani Success Story
RK Damani does not consider himself as 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, still was able to make it big.
— Stock Market Career
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 his 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 3,400. Further, India cement gave a return of +115% to his porfolio.
Some other companies in his portfolio are Food & Inns Ltd, Simplex Infrastructure Ltd, Mangalam Organics, Spencer’s Retail, BF Utilities, Prozone Inty Properties, Kava Ltd, Astra Microwave products, etc.
— D’Mart Owner – The career as a Businessman
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. (Also read: 10 secrets behind the stunning success of D-Mart’s Radhakishan Damani). Currently, the shares of Avenue Supermarts are trading at Rs 2,372 per share, as of 30 April 2020.
Further, by 2019, D-Mart has over 176 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 a total revenue of Rs 19,916 Crores in the year ending March 2019.
(Fig: Dmart Stores Success Story)
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— Other Facts about RK Damani
RK Damani considers himself as both a trader and an Investor. He trades in market swing and invests when he’s getting long-term value.
Personally, Mr. Damani lives a very simple life. He is known as ‘Mr. White and White’ because most of the time he wears a simple white shirt and white trousers. Besides, he avoids media and public gatherings.
(Video Credits: FinnovationZ)
That’s all for this RK Damani success story. I hope this article will motivate you towards your own success journey. Let me know whose story should we cover in the next article by commenting below. Happy Investing.
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Hi, I am Kritesh (Tweet me here), an NSE Certified Equity Fundamental Analyst and an electrical engineer (NIT Warangal) by qualification. I have a passion for stocks and have spent my last 4+ years learning, investing and educating people about stock market investing. And so, I am delighted to share my learnings with you. #HappyInvesting