Avenue Supermarts Ltd., the company that operates the popular retail chain DMart, has announced the appointment of Kalpana Unadkat as its new chairperson. The decision was approved by the company’s board during a meeting held on March 14, 2026. She will officially take charge of the role from April 1, 2026, replacing outgoing chairman Chandrashekhar Bhave.
The leadership change comes as Bhave completes his tenure as chairman and independent director. According to the company’s regulatory filing, Bhave will step down as chairman at the close of business on March 31, while his term as an independent director will end later in May 2026.
Avenue Supermarts is one of India’s most successful retail companies, known for its network of DMart supermarkets that focus on value pricing and efficient operations. Founded by investor and entrepreneur Radhakishan Damani, the company has grown steadily since launching its first store in Mumbai in 2002. Today, DMart operates hundreds of stores across several states in India and has become a key player in the country’s organized retail sector.
The appointment of Unadkat is seen as part of the company’s effort to strengthen governance and leadership at the board level as it continues to expand its footprint in India’s fast-growing retail market.
Experienced Corporate Lawyer to Lead the Board:
Kalpana Unadkat brings extensive experience in corporate law, governance, and international transactions to the role. She has more than 25 years of professional experience and is a dual-qualified solicitor in both India and the United Kingdom.
Over the course of her career, Unadkat has worked with several major law firms and corporations. She previously served as a senior partner at Khaitan & Co., one of India’s leading law firms. She also held the role of co-head of the India practice at Ashurst, a global law firm headquartered in London. In these roles, she advised multinational companies on cross-border mergers and acquisitions, joint ventures, and corporate governance matters.
Unadkat joined Avenue Supermarts’ board as an independent director in 2018 and has since played a key role in the company’s governance and board-level decision making. Her nomination as chairperson shows the board’s trust in her expertise and leadership ability.Aside from her involvement with DMart’s parent business, she also serves as an independent director on the boards of other well-known companies such as TVS Credit Services and Eris Life Sciences. Her expertise in corporate governance and regulatory frameworks has made her a familiar face in boardrooms across a variety of businesses.
Transition After Chandrashekhar Bhave’s Tenure:
Chandrashekhar Bhave, who currently serves as the chairman of Avenue Supermarts, has been associated with the company for several years and played a key role in its governance framework. His term as chairman will end on March 31, 2026, after which Unadkat will assume the position. The transition has been planned in accordance with corporate governance norms and board succession planning. The company confirmed that the board approved Unadkat’s appointment as chairperson following Bhave’s completion of his second term as an independent director.
Bhave previously served as chairman of the Securities and Exchange Board of India (SEBI), the country’s capital markets regulator. During his tenure at Avenue Supermarts, he helped strengthen governance structures and guide the company during a period of significant expansion and growth. With Unadkat stepping into the role, the board leadership will continue to emphasize regulatory compliance, transparency, and long-term strategic oversight for the company.
Growing Retail Giant Strengthens Governance Leadership:
The leadership change comes at a time when Avenue Supermarts continues to expand its retail presence across India. The company’s DMart chain has built a strong reputation for offering everyday low prices and maintaining efficient supply chain operations. As of 2026, the retailer operates more than 460 stores across multiple states and union territories, serving millions of customers through its supermarket and hypermarket formats. The company’s disciplined expansion strategy and focus on operational efficiency have helped it maintain strong financial performance over the years.
The selection of Kalpana Unadkat as chairperson aims to improve the company’s governance and board monitoring. Her experience in corporate law and foreign deals could be useful as the company navigates regulatory hurdles and seeks potential expansion prospects. For investors and industry watchers, the leadership shift shows the company’s focus on board stability and continuity. Avenue Supermarts appears to be on track to continue its steady expansion in India’s competitive retail industry, now that a seasoned governance expert has been appointed to chair the board.
