SDREAMS

S D Retail financials

Market cap
₹155 Cr
Sector
Textiles
Calls analysed
3
Latest concall · Q4 FY26 · call held 19 May 2026

S D Retail Q4 FY26

Revenue ₹195.97 cr +13%EBITDA ₹16.53 cr EBITDA Margin 8.4% PAT ₹9.78 cr

What went well

  • Total revenue from operations for FY26 grew 13.25% YoY to ₹195.97 Crore.
  • EBO revenue for FY26 increased by 111% to ₹46.45 Crore, significantly contributing to total revenue (23.7%).
  • D2C platform revenue showed robust growth of 70% to ₹4.83 Crore in FY26.

What to watch

  • H2 FY26 PAT margin compressed to 8.2% from 9.0% in H2 FY25, driven by intentional upfront investments and increased overhead costs.
  • Muted discretionary consumption across India due to inflationary pressures, requiring continuous financial prudence and cost optimization.
Read the full call →

Guidance record · Q4 FY26

what the last two calls moved 15 tracked 4 delivered 2 missed 9 open
  • H1 PAT delivered said Q4 FY25 Promised: Want to be net profitable from H1 itself Q4 FY26: Promise pertains to H1 FY26 and was previously achieved. No new update.
  • EBO Store Additions missed said Q4 FY25 Promised: Open 3-4 EBOs a month / 36 EBOs in FY26 Q4 FY26: Company ended FY26 with 75 stores, a net addition of 24 stores from 51 at the end of FY25. This is short of the 36 store target.
  • EBITDA Margin on track said Q2 FY26 Promised: Differential margin gain in H2 FY27; no increase expected this year (FY26) Q4 FY26: FY26 EBITDA margin was 8.4%, down from 11.7% in FY25. This is consistent with the guidance of 'no increase expected'. The promise for margin gain in H2 FY27 remains.

All 15 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q4 FY26: revenue up 11.3%, net profit down 9.1% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY24Q4 FY24Q2 FY25Q4 FY25Q2 FY26Q4 FY26
Revenue57 106 72 101 78 +37%118 +11%
EBITDA-2 16 2 12 2 +200%14 −12%
Net profit-3 11 -1 9 0 +100%10 −9%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −34.6% 1Y

₹80₹100₹120Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 13 Nov 2025Q4 FY26 — 19 May 2026

1Y: ₹127 on 10 Sept 2025 → ₹83. High ₹130 (11 Sept 2025), low ₹68.9 (30 Mar 2026).

How the price took the results

close before → close after

Q4 FY26
−1.5%
19 May
Q2 FY26
+1.4%
13 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹1 Cr₹1 Cr₹1 Cr₹1 Cr₹19 Cr₹19 Cr
Reserves₹19 Cr₹29 Cr₹34 Cr₹40 Cr₹92 Cr₹101 Cr
Borrowings₹14 Cr₹18 Cr₹21 Cr₹44 Cr₹26 Cr₹16 Cr
Other liabilities₹27 Cr₹29 Cr₹34 Cr₹37 Cr₹40 Cr₹37 Cr
Total liabilities₹61 Cr₹78 Cr₹88 Cr₹122 Cr₹176 Cr₹174 Cr
Fixed assets₹3 Cr₹3 Cr₹3 Cr₹5 Cr₹9 Cr₹11 Cr
Capital work in progress₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Investments₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Other assets₹58 Cr₹75 Cr₹85 Cr₹117 Cr₹167 Cr₹162 Cr
Total assets₹61 Cr₹78 Cr₹88 Cr₹122 Cr₹176 Cr₹174 Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, the public added +2.42 pp while FIIs trimmed −2.16 pp. The shareholder count shrank 6% to 893.

Promoters
65.3%
FIIs
2.1%
DIIs
1.8%
Public
30.8%

Since Jun 2025

  • Public +2.42 pp
  • FIIs −2.16 pp
  • DIIs −0.25 pp

How it drifted, 8 quarters

Over this window the public went from 24.4% to 30.8% — +6.4 pp.

Sep '24Jun '25Jun '26

Ownership split by quarter, oldest first. Sep '24: Promoters 65.3%, FIIs 6.8%, DIIs 3.5%, Public 24.4%.Dec '24: Promoters 65.3%, FIIs 5.3%, DIIs 2.6%, Public 26.9%.Mar '25: Promoters 65.3%, FIIs 4.5%, DIIs 2.1%, Public 28.0%.Jun '25: Promoters 65.3%, FIIs 4.3%, DIIs 2.0%, Public 28.4%.Sep '25: Promoters 65.3%, FIIs 3.2%, DIIs 1.2%, Public 30.3%.Dec '25: Promoters 65.3%, FIIs 2.3%, DIIs 1.6%, Public 30.8%.Mar '26: Promoters 65.3%, FIIs 2.1%, DIIs 1.8%, Public 30.8%.Jun '26: Promoters 65.3%, FIIs 2.1%, DIIs 1.8%, Public 30.8%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of S D Retail above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Hitesh Pravinchandra Ruparelia 25.38%unchanged
Ruparelia Utpalbhai P 16.92%unchanged
Grace Garments Llp 11.36%unchanged
Sweet Dreams Loungewear (India) Llp 7.64%unchanged
Chanakya Corporate Services Private Limited 4.08%unchanged
Chanakya Value Creation Llp 4.08%unchanged
Elimath Advisors Private Limited 4.03%unchanged
Shaligram Apparels Llp 2.98%unchanged
Finavenue Capital Trust - Finavenue Growth Fund AIF1.42%unchanged
India Max Investment Fund Limited FPI fund1.29%unchanged
Bharat J. Sheth 1.17%unchanged
Sd Fashions Llp 1.01%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

All earnings calls (3)

Read the Q4 FY26 call →

Learn to analyse S D Retail

Guides on how to read this kind of business and the numbers that matter.