Baazar Style Retail Ltd.

•

₹ 417.65-4.99%

2026-08-21

stylebaazar.inBSE: 544243NSE: STYLEBAAZA

Market Cap₹ 3,226 Cr.

Current Price₹ 440

High / Low₹ 427 / 230

Stock P/E68.6

Book Value₹ 66

Price to Book4.44

Dividend Yield0.00 %

ROCE18.9 %

ROE4.7 %

Face Value₹ 5

Add ratio to table

ABOUT

KEY POINTS

PROS

Promoters have been increasing their shareholding - up 13.1pp over 2 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 4.73x)
Company maintains a comfortable, low leverage position

CONS

A large part of profit comes from other income (47.5% of PBT)
Company has a low return on equity of 6.0% over last 3 years
Interest coverage is weak at 1.3x - earnings barely cover interest
Though reporting repeated profits, the company pays out little dividend (0.0%)
Company's return on assets is weak at 1.0%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

EDIT COLUMNS

Consumer ServicesRetailingRetailing

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Sales Qtr Rs.Cr.	Qtr Sales Var %	ROCE %	OPM %
1.	DMART	3979.55	84.88	259564.55	0.00	860.44	11.34	18794.53	14.88	18.03	7.98
2.	TRENT	2944.00	86.78	156983.37	0.14	518.07	21.98	5754.71	17.84	36.73	19.45
3.	VMM	103.40	54.31	48440.92	0.00	2587.70	1155.74	37270.10	1086.82	17.13	14.61
4.	METROBRAND	924.05	61.97	25186.40	0.32	95.26	-3.58	720.36	14.66	33.25	29.85
5.	ABLBL	86.92	60.28	10608.77	0.58	29.02	20.62	2045.74	11.15	27.34	15.06
6.	PNGJL	603.90	19.94	8889.56	0.00	1053.35	1419.06	24129.81	1307.35	20.40	7.56
7.	V2RETAIL	220.00	44.90	8022.03	0.00	41.85	69.70	997.20	57.73	38.43	13.99
8.	AVL	605.70	0.00	7821.89	0.21	77.22	39.99	1192.68	26.85	20.82	10.44
9.	MEDPLUS	649.85	37.09	7807.11	0.00	33.17	-21.67	1879.60	21.84	22.22	7.09
10.	ETHOSLTD	2904.30	74.81	7771.24	0.00	28.66	50.71	461.71	33.32	13.70	12.97
11.	EMIL	191.15	35.67	7354.47	0.00	120.64	458.07	2418.95	39.07	14.49	9.88
12.	STYLEBAAZA	423.80	68.57	3225.85	0.00	2.23	8.41	486.38	28.72	18.85	14.79

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	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
	228	188	333	224	276	311	412	345	378	532	466	466	486
	194	180	257	200	234	287	328	305	320	463	377	418	487
Operating Profit	—	—	—	—	—	—	—	—	—	—	—	—	—
OPM %	—	—	—	—	—	—	—	—	—	—	—	—	—
Other Income	2	1	6	1	3	2	2	2	3	4	2	2	3
Interest	11	13	11	14	14	16	17	22	24	17	19	18	20
Depreciation	17	18	19	20	21	22	27	29	34	42	46	48	52
	8	-21	51	-9	-1	-12	41	-9	3	69	26	-36	3
Tax %	27.52%	25.93%	25.24%	26.57%	34.38%	24.68%	25.41%	31.88%	27.46%	25.28%	25.81%	28.84%	33.04%
Net Profit	0	0	0	0	-0	-9	30	-6	2	51	19	-26	2
	1	-2	5	-1	-0	-1	4	-1	0	7	3	-3	0
Equity Capital	35	35	35	35	35	37	37	37	37	37	37	37	38
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Equity Capital	35	35	35	35	35	37	37	37	37	37	37	37	38
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Jun 2023

: 228
: 194
Operating Profit: —
OPM %: —
Other Income: 2
Interest: 11
Depreciation: 17
: 8
Tax %: 27.52%
Net Profit: 0
: 1
Equity Capital: 35
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 35
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2023

: 188
: 180
Operating Profit: —
OPM %: —
Other Income: 1
Interest: 13
Depreciation: 18
: -21
Tax %: 25.93%
Net Profit: 0
: -2
Equity Capital: 35
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 35
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2023

: 333
: 257
Operating Profit: —
OPM %: —
Other Income: 6
Interest: 11
Depreciation: 19
: 51
Tax %: 25.24%
Net Profit: 0
: 5
Equity Capital: 35
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 35
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2024

: 224
: 200
Operating Profit: —
OPM %: —
Other Income: 1
Interest: 14
Depreciation: 20
: -9
Tax %: 26.57%
Net Profit: 0
: -1
Equity Capital: 35
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 35
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2024

: 276
: 234
Operating Profit: —
OPM %: —
Other Income: 3
Interest: 14
Depreciation: 21
: -1
Tax %: 34.38%
Net Profit: -0
: -0
Equity Capital: 35
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 35
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2024

: 311
: 287
Operating Profit: —
OPM %: —
Other Income: 2
Interest: 16
Depreciation: 22
: -12
Tax %: 24.68%
Net Profit: -9
: -1
Equity Capital: 37
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 37
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2024

: 412
: 328
Operating Profit: —
OPM %: —
Other Income: 2
Interest: 17
Depreciation: 27
: 41
Tax %: 25.41%
Net Profit: 30
: 4
Equity Capital: 37
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 37
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2025

: 345
: 305
Operating Profit: —
OPM %: —
Other Income: 2
Interest: 22
Depreciation: 29
: -9
Tax %: 31.88%
Net Profit: -6
: -1
Equity Capital: 37
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 37
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2025

: 378
: 320
Operating Profit: —
OPM %: —
Other Income: 3
Interest: 24
Depreciation: 34
: 3
Tax %: 27.46%
Net Profit: 2
: 0
Equity Capital: 37
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 37
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2025

: 532
: 463
Operating Profit: —
OPM %: —
Other Income: 4
Interest: 17
Depreciation: 42
: 69
Tax %: 25.28%
Net Profit: 51
: 7
Equity Capital: 37
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 37
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2025

: 466
: 377
Operating Profit: —
OPM %: —
Other Income: 2
Interest: 19
Depreciation: 46
: 26
Tax %: 25.81%
Net Profit: 19
: 3
Equity Capital: 37
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 37
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2026

: 466
: 418
Operating Profit: —
OPM %: —
Other Income: 2
Interest: 18
Depreciation: 48
: -36
Tax %: 28.84%
Net Profit: -26
: -3
Equity Capital: 37
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 37
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2026

: 486
: 487
Operating Profit: —
OPM %: —
Other Income: 3
Interest: 20
Depreciation: 52
: 3
Tax %: 33.04%
Net Profit: 2
: 0
Equity Capital: 38
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 38
Reserves: 0
Promoter Pledge %: 0.00%

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025	TTM
	788	973	1,344	1,950
	686	829	1,151	1,744
Operating Profit	108	154	201	—
OPM %	14	16	15	—
Other Income	6	10	9	11
Interest	41	51	72	74
Depreciation	61	73	100	188
	5	29	19	62
Tax %	6	25	22	24
Net Profit	5	22	15	47
EPS	1	3	2	—
Dividend Payout %	0	0	0	—
Minority Interest	0	0	0	0
Share of Associates	0	0	0	0
Adjusted EPS	1	3	2	—
Minority Interest	0	0	0	0
Share of Associates	0	0	0	0
Adjusted EPS	1	3	2	—

Mar 2023

: 788
: 686
Operating Profit: 108
OPM %: 14
Other Income: 6
Interest: 41
Depreciation: 61
: 5
Tax %: 6
Net Profit: 5
EPS: 1
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 1
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 1

Mar 2024

: 973
: 829
Operating Profit: 154
OPM %: 16
Other Income: 10
Interest: 51
Depreciation: 73
: 29
Tax %: 25
Net Profit: 22
EPS: 3
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 3
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 3

Mar 2025

: 1,344
: 1,151
Operating Profit: 201
OPM %: 15
Other Income: 9
Interest: 72
Depreciation: 100
: 19
Tax %: 22
Net Profit: 15
EPS: 2
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2

TTM

: 1,950
: 1,744
Operating Profit: —
OPM %: —
Other Income: 11
Interest: 74
Depreciation: 188
: 62
Tax %: 24
Net Profit: 47
EPS: —
Dividend Payout %: —
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: —
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: —

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: 39%

RETURN ON EQUITY

10 Years:: —
5 Years:: —
3 Years:: 6%
Last Year:: 5%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025
LIABILITIES	-	-	-
Equity Capital	35	35	37
	159	180	366
	97	149	149
Trade Payables	166	262	311
	410	530	879
Total Liabilities	867	1,156	1,742
ASSETS	-	-	-
	468	620	1,020
Capital Work in Progress	2	7	12
	317	433	521
Cash & Bank	5	15	22
	75	81	167
Total Assets	867	1,156	1,742
Total Debt	115	178	166
Net Working Capital	55	25	115
Contingent Liabilities	1	3	19
Book Value per Share	55.42	30.80	54.11
Face Value	10.00	5.00	5.00
Total Debt	115	178	166
Net Working Capital	55	25	115
Contingent Liabilities	1	3	19
Book Value per Share	55.42	30.80	54.11
Face Value	10.00	5.00	5.00

Mar 2023

Equity Capital: 35
: 159
: 97
Trade Payables: 166
: 410
Total Liabilities: 867
: 468
Capital Work in Progress: 2
: 317
Cash & Bank: 5
: 75
Total Assets: 867
Total Debt: 115
Net Working Capital: 55
Contingent Liabilities: 1
Book Value per Share: 55.42
Face Value: 10.00
Total Debt: 115
Net Working Capital: 55
Contingent Liabilities: 1
Book Value per Share: 55.42
Face Value: 10.00

Mar 2024

Equity Capital: 35
: 180
: 149
Trade Payables: 262
: 530
Total Liabilities: 1,156
: 620
Capital Work in Progress: 7
: 433
Cash & Bank: 15
: 81
Total Assets: 1,156
Total Debt: 178
Net Working Capital: 25
Contingent Liabilities: 3
Book Value per Share: 30.80
Face Value: 5.00
Total Debt: 178
Net Working Capital: 25
Contingent Liabilities: 3
Book Value per Share: 30.80
Face Value: 5.00

Mar 2025

Equity Capital: 37
: 366
: 149
Trade Payables: 311
: 879
Total Liabilities: 1,742
: 1,020
Capital Work in Progress: 12
: 521
Cash & Bank: 22
: 167
Total Assets: 1,742
Total Debt: 166
Net Working Capital: 115
Contingent Liabilities: 19
Book Value per Share: 54.11
Face Value: 5.00
Total Debt: 166
Net Working Capital: 115
Contingent Liabilities: 19
Book Value per Share: 54.11
Face Value: 5.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025
	33	112	53
Cash from Investing	-43	-85	-103
Cash from Financing	-8	-18	54
	-18	9	4
Free Cash Flow	33	-99	-423
OCF / Net Profit	6.45	5.09	3.59
Cumulative 5-Year FCF	0	0	0
OCF / Net Profit	6.45	5.09	3.59
Cumulative 5-Year FCF	0	0	0

Mar 2023

: 33
Cash from Investing: -43
Cash from Financing: -8
: -18
Free Cash Flow: 33
OCF / Net Profit: 6.45
Cumulative 5-Year FCF: 0
OCF / Net Profit: 6.45
Cumulative 5-Year FCF: 0

Mar 2024

: 112
Cash from Investing: -85
Cash from Financing: -18
: 9
Free Cash Flow: -99
OCF / Net Profit: 5.09
Cumulative 5-Year FCF: 0
OCF / Net Profit: 5.09
Cumulative 5-Year FCF: 0

Mar 2025

: 53
Cash from Investing: -103
Cash from Financing: 54
: 4
Free Cash Flow: -423
OCF / Net Profit: 3.59
Cumulative 5-Year FCF: 0
OCF / Net Profit: 3.59
Cumulative 5-Year FCF: 0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025
PER SHARE	-	-	-
EPS (₹)	1.46	3.14	1.97
Book Value (₹)	55.42	30.80	54.11
Dividend per Share (₹)	0.00	0.00	0.00
Cash EPS (₹)	9.49	13.66	15.35
PROFITABILITY	-	-	-
Operating Margin %	13.70%	14.80%	14.31%
Net Margin %	0.65%	2.25%	1.09%
ROE %	2.64%	10.74%	4.74%
ROCE %	15.15%	22.97%	18.85%
	0.59%	2.17%	1.01%
EFFICIENCY	-	-	-
Debtor Days	0	0	0
Inventory Days	147	141	129
Payable Days	113	120	117
	33	20	12
FINANCIAL HEALTH	-	-	-
Debt to Equity (x)	0.59x	0.83x	0.41x
Interest Coverage (x)	1.13x	1.57x	1.26x
	1.18x	1.05x	1.21x
GROWTH	-	-	-
Revenue Growth %	0.00%	23.48%	38.12%
Operating Profit Growth %	0.00%	42.71%	30.75%
Net Profit Growth %	0.00%	330.11%	-33.18%
	0.00%	115.05%	-37.44%
VALUATION	-	-	-
P/E (x)	0.00x	0.00x	122.36x
P/B (x)	0.00x	0.00x	4.44x
Dividend Yield %	0.00%	0.00%	0.00%
	0.00x	1.29x	9.62x

Mar 2023

EPS (₹): 1.46
Book Value (₹): 55.42
Dividend per Share (₹): 0.00
Cash EPS (₹): 9.49
Operating Margin %: 13.70%
Net Margin %: 0.65%
ROE %: 2.64%
ROCE %: 15.15%
: 0.59%
Debtor Days: 0
Inventory Days: 147
Payable Days: 113
: 33
Debt to Equity (x): 0.59x
Interest Coverage (x): 1.13x
: 1.18x
Revenue Growth %: 0.00%
Operating Profit Growth %: 0.00%
Net Profit Growth %: 0.00%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2024

EPS (₹): 3.14
Book Value (₹): 30.80
Dividend per Share (₹): 0.00
Cash EPS (₹): 13.66
Operating Margin %: 14.80%
Net Margin %: 2.25%
ROE %: 10.74%
ROCE %: 22.97%
: 2.17%
Debtor Days: 0
Inventory Days: 141
Payable Days: 120
: 20
Debt to Equity (x): 0.83x
Interest Coverage (x): 1.57x
: 1.05x
Revenue Growth %: 23.48%
Operating Profit Growth %: 42.71%
Net Profit Growth %: 330.11%
: 115.05%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 1.29x

Mar 2025

EPS (₹): 1.97
Book Value (₹): 54.11
Dividend per Share (₹): 0.00
Cash EPS (₹): 15.35
Operating Margin %: 14.31%
Net Margin %: 1.09%
ROE %: 4.74%
ROCE %: 18.85%
: 1.01%
Debtor Days: 0
Inventory Days: 129
Payable Days: 117
: 12
Debt to Equity (x): 0.41x
Interest Coverage (x): 1.26x
: 1.21x
Revenue Growth %: 38.12%
Operating Profit Growth %: 30.75%
Net Profit Growth %: -33.18%
: -37.44%
P/E (x): 122.36x
P/B (x): 4.44x
Dividend Yield %: 0.00%
: 9.62x

Shareholding Pattern

Numbers in percentages

TRADES

	Mar 2023	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	31.76	45.56	45.56	45.57	45.57	45.71	45.71	45.71	44.81
	0.00	6.53	5.98	2.53	2.41	3.13	2.40	1.68	1.69
	0.00	9.96	10.36	11.10	11.25	10.31	8.65	6.61	5.90
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	68.24	37.95	38.10	40.80	40.78	40.84	43.24	46.01	47.60

Mar 2023

: 31.76
: 0.00
: 0.00
Government: 0.00
: 68.24

Sep 2024

: 45.56
: 6.53
: 9.96
Government: 0.00
: 37.95

Dec 2024

: 45.56
: 5.98
: 10.36
Government: 0.00
: 38.10

Mar 2025

: 45.57
: 2.53
: 11.10
Government: 0.00
: 40.80

Jun 2025

: 45.57
: 2.41
: 11.25
Government: 0.00
: 40.78

Sep 2025

: 45.71
: 3.13
: 10.31
Government: 0.00
: 40.84

Dec 2025

: 45.71
: 2.40
: 8.65
Government: 0.00
: 43.24

Mar 2026

: 45.71
: 1.68
: 6.61
Government: 0.00
: 46.01

Jun 2026

: 44.81
: 1.69
: 5.90
Government: 0.00
: 47.60

Documents

Announcements

Resignation
2026-08-20 - Baazar Style Retail Limited has informed the Exchange regarding Resignation of Mrs. Richa Manoj Goyal and Mr. Prashant Singhania as Non- Executive Independent Directors of the company w.e.f. August 20, 2026.
Resignation
2026-08-19 - Baazar Style Retail Limited has informed the Exchange regarding Resignation of Mrs. Ushma Sheth Sule as Non- Executive Director of the company w.e.f. August 19, 2026.

Annual Reports

Annual Report FY2025
2025

Credit Ratings

Nothing filed yet.

Concalls

Aug 2026
TranscriptPPTREC
May 2026
TranscriptPPTREC
Feb 2026
Transcript PPTREC