SHOPERSTOP
Shoppers Stop share price & financials
- Price
- ₹360.5
- Market cap
- ₹4.3k Cr
- Sector
- Consumer Services
- Calls analysed
- 7
Shoppers Stop Limited Q1 FY27
What went well
- Consolidated top line grew by 10% YoY.
- EBITDA grew by 40% YoY.
- PAT turned positive at Rs 5 crores, compared to a loss of Rs 4 crores in Q1 FY26.
What to watch
- Gross margin percentage might appear lower due to premiumization strategy, though rupee value is higher.
- Analyst concern regarding sales stagnation despite expansion, which management attributed to seasonality and current growth.
What Shoppers Stop Limited does
Shoppers Stop is a premium fashion and beauty retailer that operates multi-brand department stores, standalone specialty-beauty boutiques, home-concept stores, airport stores, and the INTUNE value-fashion chain across Indian cities. It earns by retailing third-party and private-label apparel, footwear, accessories, and beauty products through these owned/franchised store formats, supplemented by its First Citizen loyalty programme and 'Personal Shopper' concierge shopping service. Through its subsidiary Global SSBeauty (GSSBB), the company also runs a beauty distribution business that supplies prestige brands such as Estee Lauder, MAC, Bobbi Brown, Clinique, Jo Malone, NARS, Armani Beauty and Prada Beauty to third-party retailers across the country. The company also sells beauty products online via ssbeauty.in.
Segments
- Core Business
- New Ventures
- Global Beauty Distribution (GSSBB)
- Total store network
- 295 stores
- Store format mix
- 113 department stores, 84 INTUNE stores, 73 specialty beauty stores (incl. EBOs and SSBeauty boutiques), 13 airport stores, 12 HomeStop stores
- Total retail area
- 4.5 million sq ft
- Cities with store presence
- 73 cities
- Brands sold in-store
- 800+ brands
- First Citizen loyalty membership base
- 13.5 million members
Guidance record · Q1 FY27
what the last two calls moved 16 tracked 1 delivered 7 missed 8 open- Core Business EBITDA Margin delivered said Q2 FY26 Promised: mid-single-digit or slightly better for FY26 Q1 FY27: Management stated the full last year (FY26) margin was 4.7%, which is within the 'mid-single-digit' range.
- INTUNE Store Count went quiet said Q1 FY25 Promised: 75+ stores by end of FY25 Q1 FY27: Final FY25 number was not discussed.
- INTUNE Complete Breakeven delayed said Q3 FY25 Promised: Complete breakeven (including SO cost) by Q3/Q4 FY26 Q1 FY27: INTUNE showed 10% LFL growth after 4 quarters of decline. Management expects substantial loss reduction from Q2 FY27 onwards, reinforcing the delayed timeline towards FY27 breakeven.
All 16 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 8.3%, net profit up 5.6% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,068 | 1,311 | 1,022 | 1,094 | 1,175 +10% | 1,321 +1% | 1,117 +9% | 1,185 +8% |
| EBITDA | 147 | 240 | 169 | 166 | 164 +12% | 210 −12% | 178 +5% | 180 +8% |
| Net profit | -22 | 49 | 2 | -18 | -23 −5% | 13 −73% | -18 −1000% | -17 +6% |
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 −32.0% 1Y
1Y: ₹551.8 on 10 Sept 2025 → ₹375.45. High ₹557.8 (22 Sept 2025), low ₹287.15 (7 Apr 2026).
How the price took the results
close before → close after
- Q1 FY27
- −0.4%
- 28 Jul
- Q2 FY26
- −0.8%
- 17 Oct
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.
Financials, as filed
Revenue grew 5.5% a year over 3 years, FY23 to FY26. Operating margin narrowed to 15.3%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹4.0k Cr | ₹4.2k Cr | ₹4.4k Cr | ₹4.7k Cr |
| Operating profit | ₹697 Cr | ₹711 Cr | ₹698 Cr | ₹718 Cr |
| Operating margin | 17.4% | 16.9% | 15.7% | 15.3% |
| Interest | ₹209 Cr | ₹224 Cr | ₹258 Cr | ₹283 Cr |
| Depreciation | ₹382 Cr | ₹436 Cr | ₹491 Cr | ₹534 Cr |
| Net profit | ₹118 Cr | ₹75 Cr | ₹6 Cr | ₹-46 Cr |
| Net margin | 2.9% | 1.8% | 0.1% | -1.0% |
| Cash from operations | ₹562 Cr | ₹616 Cr | ₹566 Cr | ₹873 Cr |
| Free cash flow | ₹418 Cr | ₹445 Cr | ₹399 Cr | ₹751 Cr |
| ROCE | 16.0% | 12.0% | 8.0% | 7.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹55 Cr | ₹55 Cr | ₹55 Cr | ₹55 Cr | ₹55 Cr | ₹55 Cr |
| Reserves | ₹127 Cr | ₹44 Cr | ₹177 Cr | ₹269 Cr | ₹233 Cr | ₹244 Cr |
| Borrowings | ₹2.1k Cr | ₹2.1k Cr | ₹2.4k Cr | ₹2.7k Cr | ₹3.3k Cr | ₹3.2k Cr |
| Other liabilities | ₹1.3k Cr | ₹1.6k Cr | ₹2.0k Cr | ₹2.2k Cr | ₹2.6k Cr | ₹2.5k Cr |
| Total liabilities | ₹3.5k Cr | ₹3.8k Cr | ₹4.6k Cr | ₹5.2k Cr | ₹6.2k Cr | ₹6.1k Cr |
| Fixed assets | ₹1.7k Cr | ₹1.7k Cr | ₹2.1k Cr | ₹2.6k Cr | ₹2.9k Cr | ₹3.0k Cr |
| Capital work in progress | ₹3 Cr | ₹14 Cr | ₹34 Cr | ₹21 Cr | ₹16 Cr | ₹7 Cr |
| Investments | ₹128 Cr | ₹146 Cr | ₹73 Cr | ₹55 Cr | ₹3 Cr | ₹110 Cr |
| Other assets | ₹1.7k Cr | ₹1.9k Cr | ₹2.4k Cr | ₹2.6k Cr | ₹3.2k Cr | ₹3.0k Cr |
| Total assets | ₹3.5k Cr | ₹3.8k Cr | ₹4.6k Cr | ₹5.2k Cr | ₹6.2k Cr | ₹6.1k 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.
Mutual funds in SHOPERSTOP
Filings to Aug 2026
0 new, 2 added, 0 trimmed, 0 sold out — net +3.09 L shares (+2.2%).
- Held by funds
- ₹561 Cr
- 3 schemes
- Biggest holder
- HDFC Small Cap Fund
- ₹391 Cr · 0.9% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| HDFC Small Cap Fund HDFC Mutual Fund | ₹391 Cr | +0.87 L | Apr '23 |
| Nippon India Multi Cap Fund Nippon India Mutual Fund | ₹158 Cr | held | Sep '12 |
| HDFC Children's Fund HDFC Mutual Fund | ₹12 Cr | +2.23 L | Jun '26 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
2 added, 0 trimmed — net +3.09 L shares (+2.2%)
- Funds are sitting on
- -30%
- vs est. average cost
- Held by funds
- ₹561 Cr
- 3 schemes · ≈ 12% of the company
- Biggest holder
- HDFC Small Cap Fund
- ₹391 Cr · 0.9% of that fund
- Longest holder
- Nippon India Multi Cap Fund
- 14y · since Sep '12
Shares held by these funds +92%
Aug '23 1.45 cr shares Jul '26
All earnings calls (6)
Read the Q1 FY27 call →Learn to analyse Shoppers Stop Limited
Guides on how to read this kind of business and the numbers that matter.