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Shoppers Stop

SHOPERSTOP NSE

Key Fundamentals

MicrocapDiversified RetailRetail
Market Cap
₹4,097 Cr
Volatility
Moderate
P/E Ratio
-120.9
EBITDA
₹796 Cr
Return on Equity
-12.4%
Debt to Equity
11.4
Book Value
₹26.41
EPS
₹4.13
52W High
₹572
52W Low
₹275.95

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Weaknesses

3
  • Stock is trading at 14.2 times its book value
  • Company has low interest coverage ratio.
  • Company has a low return on equity of 8.27% over last 3 years.

Growth Rate

Revenue Growth
8.84% higher than 3Y
Net Income Growth
-431% lower than 3Y
Cash Flow Change
52.72% higher than 3Y
ROE
-466% lower than 3Y
ROCE
-12.2% higher than 3Y
EBITDA Margin (Avg.)
-4.05% higher than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 44d ago
AI opinion · based on fundamentals
Risk high

Shoppers Stop Ltd is a mid-cap department store retailer with a market cap of ₹4,303 Cr that reported FY25 revenue of ~₹4,628 Cr (up ~7% YoY) but swung to a net loss on a trailing basis, reflected in a negative PE of -124. The company is in aggressive expansion mode with 284 stores across 68 cities as of Q3 FY25, but carries elevated debt with an interest coverage ratio of just 0.8x and trades at 14.8x book value.

Bull Case 8
  • Revenue grew 10% on a TTM basis to ~₹4,628 Cr in FY25, continuing a 3-year sales CAGR of 8% and 5-year CAGR of 24%
  • Aggressive store expansion with 25 new stores added in a single quarter and total footprint reaching 284 stores across 68 cities and 4.5 million sq ft
  • INTUNE format scaled rapidly from 31 stores in Q1 FY25 to 71 stores by March 2025, with plans for 40-60 more in FY26, diversifying revenue streams
  • Q3 FY25 consolidated net profit rose 37% YoY to ₹52 Cr on a GAAP basis, showing sequential recovery momentum
  • New segments INTUNE and Beauty Distribution achieved EBITDA positivity, indicating path to profitability for growth verticals
  • FY26 revenue reached ₹4,708 Cr with operating profit of ₹718 Cr, a 3% improvement over FY25, showing continued top-line momentum
  • Company plans to fund FY26 capex through internal accruals and expects borrowings to reduce, signaling improving cash generation
  • 5-year stock CAGR of 8% and compounded profit growth of 14% over 5 years indicate longer-term value creation despite recent weakness
Bear Case 8
  • Negative trailing PE of -124 indicates the company is currently loss-making on a TTM basis, with compounded profit declining 205% on TTM
  • Interest coverage ratio of just 0.8x means EBIT does not fully cover interest costs of ₹258 Cr in FY25, posing solvency risk
  • Stock trades at 14.8x book value despite negative ROE of -6% in the last year, suggesting expensive valuation relative to returns
  • Stock price has declined 25% over 1 year and 22% CAGR decline over 3 years, reflecting sustained market de-rating
  • 3-year average ROE of only 8.27% and 10-year ROE of -5% indicate structurally weak return generation on equity capital
  • Debt-to-equity ratio reported at ~11.4x (including lease liabilities) with total debt of ₹2.4B against shareholder equity of ₹2.9B on a net basis
  • Zero dividend yield means shareholders receive no income return while bearing equity risk in a loss-making period
  • Q1 FY26 reported a net loss of ₹14.25 Cr, showing that profitability remains fragile and seasonal despite revenue growth of 11.2%

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 42d ago
Headwinds 1
  • Q1FY27 net loss continues Jul 22

    Shoppers Stop reported a consolidated net loss of ₹14.25 crore for Q1FY27, though narrowing from ₹15.74 crore YoY. The company remains loss-making despite revenue growth.

Positives 3
  • Debt-free target by FY27 Jul 24

    Shoppers Stop targets debt-free status by FY27, plans 9-10 new department stores annually funded internally, and is focusing on premium products and global brands as growth drivers.

  • Revenue up 11.2% in Q1FY27 Jul 22

    Revenue from operations rose 11.2% YoY to ₹1,291.41 crore in Q1FY27, showing healthy topline momentum despite the bottom-line loss.

  • Active institutional investor interest Jul 30

    Multiple investor meetings scheduled with Motilal Oswal (Aug 7), Fidelity International (Aug 7), and Emkay (Jul 27), indicating strong institutional engagement.

Neutral 3
  • AGM resolutions approved Jul 22

    Shoppers Stop held its 29th AGM on July 22, 2026, approving financial statements and director re-appointments without notable controversy.

  • Q1FY27 earnings call held Jul 23 Jul 15

    Analyst call hosted on July 23 with MD & CEO Kavindra Mishra and CFO Pankaj Chaturvedi to discuss quarterly performance.

  • Promoter entity reclassification Jul 9

    Board approved reclassifying Content Properties and Sycamore Properties from promoter group to public category. Both entities hold 0 shares, making this a housekeeping move.

TL;DR: Shoppers Stop is showing healthy topline growth at 11.2% YoY and has a clear strategic roadmap to become debt-free by FY27 while expanding 9-10 stores annually. The key risk is that the company remains loss-making at the net level, though losses are narrowing. Strong institutional interest and a premium-focused strategy suggest improving sentiment, but profitability needs to materialize for the narrative to fully turn positive.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
994
1,039
1,238
1,046
1,069
1,115
1,379
1,064
1,161
1,257
1,416
1,210
1,291
Expenses
822
878
1,020
880
926
965
1,134
894
990
1,086
1,198
1,026
1,104
Operating Profit
172
161
217
167
143
150
246
170
172
170
218
184
187
OPM %
17%
15%
18%
16%
13%
13%
18%
16%
15%
14%
15%
15%
15%
Other Income
7
6
3
33
4
8
23
20
10
10
6
7
5
Interest
54
55
59
58
61
65
65
70
73
73
72
72
74
Depreciation
105
108
111
112
117
122
130
125
129
134
133
144
138
PBT
20
3
51
30
-32
-29
73
-5
-21
-27
20
-25
-19
Tax %
27%
22%
28%
23%
-28%
-28%
28%
-137%
-25%
-25%
18%
-34%
-25%
Net Profit
14
3
37
23
-23
-21
52
2
-16
-20
16
-16
-14
EPS in Rs
1.32
0.25
3.35
2.11
-2.07
-1.87
4.75
0.18
-1.43
-1.83
1.46
-1.48
-1.29
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
4,217
4,595
3,757
3,697
3,578
3,464
1,749
2,519
4,022
4,317
4,628
5,043
5,174
Expenses
3,948
4,415
3,629
3,546
3,332
2,912
1,705
2,249
3,327
3,600
3,919
4,299
4,414
Operating Profit
269
180
128
151
246
552
44
270
695
717
708
744
760
OPM %
6%
3.9%
3.4%
4.1%
7%
16%
2.5%
11%
17%
17%
15%
15%
15%
Other Income
13
28
18
232
18
24
224
194
55
49
54
33
29
Interest
78
85
86
38
14
197
223
207
209
225
261
289
290
Depreciation
125
130
119
115
141
450
392
355
382
437
494
541
549
PBT
78
-7
-58
231
110
-72
-347
-98
159
104
7
-53
-51
Tax %
37%
482%
35%
8%
41%
98%
-23%
-53%
27%
26%
-55%
-32%
—
Net Profit
49
-40
-78
214
65
-142
-267
-47
116
77
11
-36
-35
EPS in Rs
4.09
0.23
-3.59
22.34
5.94
-12.98
-24.43
-4.29
10.58
7.03
0.99
-3.28
-3.14
Div. Payout %
15%
260%
-17%
3%
10%
0%
0%
0%
0%
0%
0%
0%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
42
42
42
44
44
44
55
55
55
55
55
55
Reserves
487
473
437
860
871
23
65
21
151
246
266
236
Borrowings
751
829
885
125
74
2,247
2,106
2,115
2,375
2,785
3,314
3,317
Other Liabilities
702
688
692
758
1,486
1,768
1,290
1,591
2,023
2,208
2,459
2,683
Total Liabilities
1,981
2,032
2,056
1,788
2,476
4,081
3,516
3,783
4,603
5,294
6,095
6,291
Fixed Assets
903
907
922
673
615
1,901
1,721
1,723
2,097
2,582
2,971
3,030
CWIP
28
33
20
18
35
44
3
14
34
21
13
7
Investments
0
39
20
282
258
191
128
146
48
4
3
0
Other Assets
1,051
1,053
1,094
814
1,567
1,945
1,664
1,899
2,424
2,688
3,107
3,254
Total Assets
1,981
2,032
2,056
1,788
2,476
4,081
3,516
3,783
4,603
5,294
6,095
6,291
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
111
155
64
298
202
576
-3
383
543
561
549
838
Investing
-162
-172
-111
-35
-125
-284
-24
-102
-29
-111
-169
-129
Financing
45
10
-10
-171
-63
-433
167
-270
-537
-479
-409
-675
Net Cash Flow
-6
-6
-57
92
13
-141
140
11
-23
-29
-29
34
Free Cash Flow
-52
-17
-47
184
89
395
-85
276
399
388
369
703
CFO/OP
50
110
69
221
105
112
-35
134
79
78
78
112
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
9
4
6
5
5
4
6
5
3
7
5
6
Inventory Days
69
74
90
57
188
225
290
244
235
242
273
253
Days Payable
64
63
76
84
224
277
391
349
287
283
303
295
Cash Conversion Cycle
14
15
19
-21
-31
-48
-94
-101
-49
-34
-25
-37
Working Capital Days
-30
-28
-48
-26
-21
-44
-101
-90
-51
-44
-37
-36
ROCE %
13%
6%
3%
4%
12%
8%
-5%
4%
15%
12%
8%
7%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

FIIs1.91%Promot.66.06%Others2.50%Public3.83%DIIs25.70%As ofJun 2026
9.73% of promoter holding pledged as of Jun 2026

Documents

Frequently Asked Questions about Shoppers Stop

What does Shoppers Stop Ltd do?
Company Overview Shoppers Stop Ltd. is the nation's leading premier retailer of fashion and beauty brands established in 1991. [1] It has 800+ Brands under its portfolio and 271 Stores spread across 50 cities in India as of 31st Dec 2022. [2]
Where is Shoppers Stop Ltd (SHOPERSTOP) listed?
Shoppers Stop Ltd trades as SHOPERSTOP on the NSE and under code 532638 on the BSE.
Which sector does Shoppers Stop Ltd belong to?
Shoppers Stop Ltd is classified under the Consumer Discretionary sector, in the Retailing industry.
What is the market capitalisation of Shoppers Stop Ltd?
Shoppers Stop Ltd has a market capitalisation of ₹4,097 Cr, which places it in the Small Cap band.
What is the PE ratio of Shoppers Stop Ltd?
Shoppers Stop Ltd trades at a PE ratio of -120.90, on earnings per share of ₹4.13, against a book value of ₹26.41 per share.
What is the 52-week high and low of Shoppers Stop Ltd?
Over the last 52 weeks Shoppers Stop Ltd has traded between ₹275.95 and ₹572.
What is the Return on Equity (ROE) of Shoppers Stop Ltd?
Shoppers Stop Ltd reported a return on equity of -12.40%. Its debt-to-equity ratio is 11.40.

Company Information

Company Overview Shoppers Stop Ltd. is the nation's leading premier retailer of fashion and beauty brands established in 1991. [1] It has 800+ Brands under its portfolio and 271 Stores spread across 50 cities in India as of 31st Dec 2022. [2]

Website shoppersstop.com
CEO Mr. Kavindra Mishra
Employees 6,942
Listed 2005-05-23
Face Value ₹ 5
Issued Size 11,01,12,105

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