Shoppers Stop Ltd.
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ABOUT
AI Sector View
AI GENERATEDConsumer Services
Consumer services have a mixed operating backdrop but strong market sponsorship. Foreign tourist arrivals in India rose 6.0% YoY (2026-06), export of services grew 13.0% YoY (2026-06), and headline tourist arrivals were 584000 (Jun/26), though airport passenger traffic was -2.0% YoY (2026-06). Strong FPI inflow of INR 19847 crore over 3 months to 2026-08-31 supports a Buy stance despite some travel softness.
PROS
- Company has a healthy return on capital (ROCE) of 62.8%
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 59.78x)
- Company has delivered good sales growth of 22.2% CAGR over last 5 years
- Company generates healthy free cash flow
CONS
- Company is loss-making at the operating / net level
- Company has a low return on equity of 4.9% over last 3 years
- Interest coverage is weak at 0.8x - earnings barely cover interest
- Contingent liabilities are large at 69.2% of net worth
- Stock is trading at 11.1x its book value
- Recurring exceptional / one-off items are inflating headline profit
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| DMART | 3667.65 | 78.22 | 239221.00 | 0.00 | 860.44 | 11.34 | 18794.53 | 14.88 | 18.03 | 7.98 |
| TRENT | 2789.70 | 82.24 | 148761.10 | 0.14 | 518.07 | 21.98 | 5754.71 | 17.84 | 36.73 | 19.45 |
| VMM | 103.30 | 54.26 | 48394.07 | 0.00 | 258.77 | 25.57 | 3727.01 | 18.68 | 19.24 | 14.61 |
| METROBRAND | 953.35 | 63.94 | 25987.63 | 0.63 | 95.26 | -3.58 | 720.36 | 14.66 | 35.77 | 29.85 |
| ABLBL | 83.94 | 58.21 | 10245.06 | 0.60 | 29.02 | 20.62 | 2045.74 | 11.15 | 27.34 | 15.06 |
| PNGJL | 613.45 | 20.26 | 9030.14 | 0.00 | 105.33 | 51.91 | 2412.98 | 40.73 | 21.80 | 7.56 |
| V2RETAIL | 218.55 | 44.61 | 7969.15 | 0.00 | 41.85 | 69.70 | 997.20 | 57.73 | 38.43 | 13.99 |
| MEDPLUS | 658.55 | 37.59 | 7911.63 | 0.00 | 33.17 | -21.67 | 1879.60 | 21.84 | 22.22 | 7.09 |
| AVL | 604.25 | 56.15 | 7803.17 | 0.21 | 77.22 | 39.99 | 1192.68 | 26.85 | 20.82 | 10.44 |
| EMIL | 192.05 | 35.84 | 7389.10 | 0.00 | 120.64 | 458.07 | 2418.95 | 39.07 | 11.84 | 9.88 |
| ETHOSLTD | 2684.65 | 69.15 | 7183.50 | 0.00 | 28.66 | 50.71 | 461.71 | 33.32 | 13.70 | 12.97 |
| SHOPERSTOP | 379.65 | 0.00 | 4183.96 | 0.00 | -14.25 | 9.47 | 1291.41 | 11.22 | 43.81 | 14.51 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 982 | 1,025 | 1,207 | 1,000 | 1,034 | 1,068 | 1,311 | 1,022 | 1,094 | 1,175 | 1,321 | 1,117 | 1,185 | |
| 809 | 865 | 991 | 836 | 892 | 921 | 1,072 | 853 | 928 | 1,011 | 1,111 | 939 | 1,213 | |
| Operating Profit | 172 | 160 | 215 | 164 | 142 | 147 | 240 | 169 | 166 | 164 | 210 | 178 | -27 |
| OPM % | 17.55% | 15.59% | 17.85% | 16.42% | 13.74% | 13.75% | 18.29% | 16.57% | 15.19% | 13.95% | 15.88% | 15.93% | -2.31% |
| 7 | 6 | 3 | 33 | 4 | 8 | 22 | 19 | 10 | 9 | 6 | 7 | 5 | |
| Interest | 54 | 55 | 58 | 57 | 60 | 64 | 65 | 69 | 72 | 71 | 70 | 70 | 72 |
| Depreciation | 105 | 108 | 111 | 112 | 117 | 121 | 129 | 124 | 128 | 133 | 131 | 142 | 136 |
| Profit before Tax | 20 | 3 | 50 | 28 | -31 | -31 | 68 | -5 | -24 | -30 | 15 | -28 | -22 |
| Tax % | 26.87% | 29.92% | 28.35% | 24.16% | 28.43% | 28.29% | 28.52% | 154.53% | 24.93% | 24.93% | 15.48% | 33.84% | 24.90% |
| Net Profit | 15 | 2 | 36 | 22 | -23 | -22 | 49 | 2 | -18 | -23 | 13 | -18 | -17 |
| 1.36 | 0.16 | 3.23 | 1.96 | -2.05 | -2.00 | 4.43 | 0.22 | -1.63 | -2.06 | 1.14 | -1.66 | -1.52 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 3,648 | 3,591 | 3,481 | 3,381 | 1,725 | 2,494 | 3,998 | 4,213 | 4,436 | 4,708 | 4,799 | |
| 3,430 | 3,353 | 3,204 | 2,808 | 1,661 | 2,211 | 3,283 | 3,482 | 3,713 | 3,966 | 4,274 | |
| Operating Profit | 218 | 238 | 277 | 573 | 64 | 283 | 715 | 731 | 722 | 742 | 524 |
| OPM % | 5.98% | 6.63% | 7.96% | 16.95% | 3.74% | 11.33% | 17.88% | 17.35% | 16.28% | 15.75% | 10.93% |
| -18 | -34 | 18 | 14 | 196 | 151 | 61 | 54 | 53 | 33 | 28 | |
| Interest | 84 | 63 | 37 | 218 | 231 | 220 | 233 | 248 | 282 | 307 | 284 |
| Depreciation | 116 | 112 | 135 | 439 | 385 | 352 | 382 | 436 | 492 | 534 | 542 |
| Profit before Tax | 0 | 29 | 124 | -71 | -355 | -139 | 162 | 101 | 2 | -67 | -65 |
| Tax % | 6425.67% | 60.21% | 36.33% | -99.46% | 22.46% | 37.55% | 26.44% | 26.91% | -326.58% | 30.73% | 30.86% |
| Net Profit | -20 | 12 | 79 | -141 | -275 | -87 | 119 | 74 | 7 | -46 | -45 |
| EPS | -2.39 | 1.37 | 8.95 | -16.02 | -29.24 | -7.92 | 10.80 | 6.72 | 0.61 | -4.20 | — |
| Dividend Payout % | -31.41% | 56.85% | 8.38% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 3%
- 5 Years:
- 22%
- 3 Years:
- 6%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- 1%
- 5 Years:
- 8%
- 3 Years:
- -19%
- 1 Year:
- -29%
RETURN ON EQUITY
- 10 Years:
- -16%
- 5 Years:
- 6%
- 3 Years:
- 5%
- Last Year:
- -15%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 42 | 44 | 44 | 44 | 55 | 55 | 55 | 55 | 55 | 55 |
| 717 | 909 | 933 | 92 | 126 | 41 | 164 | 258 | 271 | 232 | |
| 576 | 87 | 47 | 2,189 | 1,845 | 1,872 | 2,081 | 2,418 | 2,897 | 2,821 | |
| Trade Payables | 330 | 489 | 1,254 | 1,497 | 1,140 | 1,442 | 1,826 | 1,955 | 2,212 | 2,334 |
| 167 | 214 | 165 | -20 | 9 | -1 | 142 | 249 | 211 | 291 | |
| Total Liabilities | 1,831 | 1,743 | 2,443 | 3,801 | 3,175 | 3,409 | 4,267 | 4,934 | 5,645 | 5,732 |
| 635 | 648 | 595 | 1,878 | 1,711 | 1,723 | 2,097 | 2,575 | 2,944 | 2,990 | |
| Capital Work in Progress | 13 | 15 | 31 | 10 | 3 | 14 | 30 | 17 | 4 | 4 |
| 408 | 318 | 294 | 206 | 128 | 146 | 73 | 55 | 60 | 110 | |
| 353 | 328 | 1,054 | 1,224 | 847 | 1,008 | 1,486 | 1,615 | 1,920 | 1,910 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 70 | 35 | 39 | |
| Cash & Bank | 5 | 5 | 17 | 1 | 42 | 32 | 25 | 16 | 13 | 11 |
| 418 | 428 | 454 | 482 | 445 | 486 | 555 | 585 | 669 | 669 | |
| Total Assets | 1,831 | 1,743 | 2,443 | 3,801 | 3,175 | 3,409 | 4,267 | 4,934 | 5,645 | 5,732 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 180 | 357 | 260 | 607 | -2 | 368 | 566 | 616 | 566 | 873 | |
| Cash from Investing | -85 | 32 | -131 | -283 | -36 | -109 | -52 | -137 | -162 | -170 |
| Cash from Financing | -110 | -270 | -59 | -423 | 171 | -280 | -537 | -498 | -429 | -651 |
| -39 | 84 | 13 | -142 | 145 | -0 | -27 | -18 | -26 | 52 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-10 - Shoppers Stop Limited has informed the Exchange about Schedule of meet
2026-08-26 - Shoppers Stop Limited has informed the Exchange about Schedule of meet
2026-08-26 - Shoppers Stop Limited has informed the Exchange regarding 'Press / Media Release: "Shoppers Stop and Peter England Come Together to Introduce STOP × Peter England - ANew Chapter in Contemporary Menswear"
2026-08-21 - Shoppers Stop Limited has informed the Exchange regarding 'Press / Media Release: " Shoppers Stop and RBL Bank launch three-tier co-branded credit cards '.
2026-07-31 - Shoppers Stop Limited has informed the Exchange about General Updates
2026-07-30 - Shoppers Stop Limited has informed the Exchange about Schedule of meet
2026-07-30 - Shoppers Stop Limited has informed the Exchange about Schedule of meet
2026-07-28 - Shoppers Stop Limited has informed the Exchange about Transcript
2026-07-24 - Shoppers Stop Limited has informed the Exchange about Copy of Newspaper Publication
News
Recent coverage and analyst commentary for SHOPERSTOP
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