SHOPERSTOP - Shoppers Stop Ltd Share Price

Retailing

₹540.65-4.70(-0.86%)

Market Open as of Apr 28, 2025, 12:04 IST

What does Shoppers Stop Ltd do?

Diversified Retail•Consumer Services•Small Cap

Shoppers Stop Limited engages in the retail of various household and consumer products through retail and departmental stores in India. The company operates Shoppers Stop stores that provide apparels for men, women, and kids; accessories, bags and wallets, grooming, watches, sunglasses and frames, jewellery, and footwear; and beauty products, such as make up, skincare, bath and body, nails, haircare, and fragrances products, as well as tools and accessories; and HomeStop stores, which offer kitchen and dining, dÃƒÆ’Ã‚Â©cor, home furnishing, storage and organization, smart home and appliances, bath accessories, and bedding products. It also operates Crossword bookstores; and retails various consumer products through online channels and mobile applications. Shoppers Stop Limited was founded in 1991 and is based in Mumbai, India.

Industry Group:Retailing

Employees:6,327

Website:www.shoppersstop.com

The Good, Bad and Ugly

Growth

Profitability

Size

Dilution Rank

Balance Sheet

Momentum

Technicals

Smart Money

Insider Trading

Category	SHOPERSTOP	Retailing
PE	186.90	-164.28
PS	1.28	3.87
Growth	10.4 %	10.4 %

Summary of Latest Earnings Report from Shoppers Stop

Summary of Shoppers Stop's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.

Earnings Outlook

Last updated: Jan 25

Outlook by Management:
Shoppers Stop anticipates sustained growth driven by the upcoming wedding season, expecting their "India Weds" campaign to boost sales. Investments in experiential retail, omnichannel integration, and premiumization will continue. The Global SS Beauty distribution business aims to become India's top beauty distributor, targeting FY25 revenue of Rs.240"“250 crore (distributor level). Cost rationalization remains a priority, with FY25 H2 like-for-like growth guidance maintained at 5%. Marketing efforts will focus on customer retention and personalized engagement.

Major Points:

Premiumization: 64% of revenue now from premium segments; new brand launches (Tom Ford, Armani Exchange, etc.) and store renovations (e.g., Malad) drove 50% productivity growth.
Beauty Growth: SS Beauty (B2C) grew 3%, while Global SS Beauty (B2B) doubled sales to Rs.77 crore in Q3 (4x EBITDA growth).
INTUNE Expansion: 26 new stores planned in Q4 (85 total by FY25), nearing store-level EBITDA breakeven.
Digital & Loyalty: New Magento platform and app improved conversions. First Citizen loyalty program contributed 83% of sales (11.5M members).
Cost Control: Expenses grew ~2% YoY; reduced markdowns and private brand rationalization boosted margins.
HomeStop & Personal Shoppers: 10% sales growth; 450 personal shoppers (28% of sales, 3x average ATV).
Store Strategy: Opened 52 stores YTD (closed 7 unprofitable stores); targeting 12"“15 new department stores in FY26.

Q&A Session

Last updated: Jan 25

Question 1:
What were the store closure and opening plans for Q4 and FY26, and what prompted recent closures?
Answer:
Most closures occurred in Q3, targeting underperforming high-street stores. Minimal closures are expected in FY26, with 12-15 new departmental stores planned. Closures were due to low footfall or relocation needs, not entire market exits.

Question 2:
Why did the Beauty B2C segment grow only 3% despite premiumization efforts?
Answer:
Masstige/value segments faced softness, but premium/luxury categories grew. A new private label, Joyology, was launched to offer quality at value, focusing on experience over discounts.

Question 3:
What is INTUNE's EBITDA breakeven timeline and sales outlook?
Answer:
INTUNE is nearing store-level EBITDA breakeven. Full profitability (including costs) is expected by FY26. Mature stores show ~~25% higher productivity (~~Rs.11,000/sq ft). Revenue of Rs.350-400 crore should drive breakeven.

Question 4:
How sustainable is the 4-5% LFL growth given market challenges?
Answer:
Confidence stems from initiatives like India Weds campaigns (targeting Rs.300 crore annually), renovated stores (e.g., Malad's 50% productivity jump), and premiumization. Early Q4 trends are promising.

Question 5:
Why is Shoppers Stop's Beauty growth lagging Nykaa's?
Answer:
Shoppers prioritizes sustainable growth via in-store experiences over aggressive discounting. Online-heavy players face pressure to sustain promotions, while Shoppers focuses on premium/experiential segments.

Question 6:
How is in-store space rationalization managed?
Answer:
Brand/category performance is reviewed every 6 months using GMROF (profit/sq ft). Underperformers are replaced. Beauty/watches gained space in renovations, while unprofitable private labels were trimmed.

Question 7:
What is the future of private labels?
Answer:
Private labels remain focused on profitability, not volume. Core categories (e.g., Kashish for women, Bandeya for men) thrived, while non-core segments (footwear/handbags) were reduced.

Question 8:
What are INTUNE's expansion targets and store economics?
Answer:
Targets: 85 stores by FY25-end, 90-100 in FY26. Average store size: 5,000 sq ft. Capex: Rs.1.6-1.7 crore/store. Inventory cycle: 6-8 weeks. Payback: ~3 years, improving with maturity.

Question 9:
Why have short-term borrowings increased?
Answer:
Borrowings fund capex (Rs.230 crore FY25) and INTUNE's working capital (Rs.50-60 crore). EBITDA is expected to align with capital needs from FY26, reducing reliance on debt.

Question 10:
Are dividends or bonuses planned?
Answer:
No current plans. Capital is prioritized for growth (store expansions, renovations). Dividends are evaluated annually, with no discussions in Q3.

Share Holdings

Understand Shoppers Stop ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.

Holding Pattern

Major Shareholders

Share Holding Details

As of 2025-03-31

Shareholder Name	Holding %
CAPE TRADING LLP	12.12%
ANBEE CONSTRUCTIONS LLP	12.12%
CASA MARIA PROPERTIES LLP	8.16%
CAPSTAN TRADING LLP	8.16%
PALM SHELTER ESTATE DEVELOPMENT LLP	8.16%
RAGHUKOOL ESTATE DEVELOPEMENT LLP	8.16%
HDFC SMALL CAP FUND	7.26%
KOTAK SMALL CAP FUND	4.97%
K RAHEJA CORP PVT LTD	3.92%
NIPPON LIFE INDIA TRUSTEE LTD-A/C NIPPON INDIA MUL	3.73%
TATA MUTUAL FUND - TATA SMALL CAP FUND	3.04%
ICICI PRUDENTIAL LIFE INSURANCE COMPANY LIMITED	2.79%
DSP SMALL CAP FUND	2.65%
NEEL CHANDRU RAHEJA	2.37%
RAVI CHANDRU RAHEJA	1.24%
BNP PARIBAS FINANCIAL MARKETS - ODI	1.18%
SUMATI RAVI RAHEJA	1.13%
IVORY PROPERTIES AND HOTELS PVT. LTD.	0%
INORBIT MALLS (INDIA) PRIVATE LIMITED	0%
K. RAHEJA PRIVATE LIMITED	0%

Overall Distribution

Distribution across major stakeholders

Ownership Distribution

Distribution across major institutional holders

Income Statement for Shoppers Stop

Standalone figures (in Rs. Crores) / View Consolidated Data

AnnualQuarterly

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020	Mar-2019
Revenue From Operations	5.4%	4,213	3,998	2,494	1,725	3,381	3,481
Other Income	0%	56	56	166	219	33	18
Total Income	5.3%	4,269	4,054	2,660	1,944	3,414	3,499
Purchases of stock-in-trade	-6.5%	2,625	2,806	1,664	688	2,138	2,752
Employee Expense	9.5%	382	349	269	257	322	314
Finance costs	7.2%	224	209	205	220	194	12
Depreciation and Amortization	14.2%	436	382	352	385	439	135
Other expenses	0.2%	624	623	454	349	542	886
Total Expenses	7%	4,161	3,890	2,784	2,276	3,465	3,376
Profit Before exceptional items and Tax	-34.4%	108	164	-123.79	-332.53	-50.66	124
Exceptional items before tax	-149.7%	-6.49	-2	-15	-22.4	-20	0
Total profit before tax	-37.9%	101	162	-138.79	-354.93	-70.66	124
Current tax	-	0	0	-20.59	-1.48	25	57
Deferred tax	-38.1%	27	43	-31.52	-78.23	45	-12.22
Total tax	-38.1%	27	43	-52.11	-79.71	70	45
Total profit (loss) for period	-38.1%	74	119	-86.68	-275.22	-140.94	79
Other comp. income net of taxes	-62.2%	-1.06	-0.27	-0.82	23	-177.03	-47.78
Total Comprehensive Income	-39%	73	119	-87.5	-252.38	-317.97	31
Earnings Per Share, Basic	-42%	6.73	10.88	-7.92	-29.24	-16.02	8.95
Earnings Per Share, Diluted	-41.9%	6.69	10.8	-7.92	-29.24	-16.02	8.95

Description	(%) Q/Q	Dec-2024	Sep-2024	Jun-2024	Mar-2024	Dec-2023	Sep-2023
Revenue From Operations	22.8%	1,311	1,068	1,034	1,000	1,207	1,025
Other Income	140.8%	22	9.72	3.54	35	3.34	11
Total Income	23.8%	1,334	1,078	1,037	1,034	1,210	1,036
Purchases of stock-in-trade	19.2%	950	797	664	466	820	775
Employee Expense	5%	106	101	100	91	96	98
Finance costs	1.6%	65	64	60	57	58	55
Depreciation and Amortization	6.7%	129	121	117	112	111	108
Other expenses	5.1%	187	178	177	150	168	160
Total Expenses	14.5%	1,266	1,106	1,069	1,004	1,160	1,028
Profit Before exceptional items and Tax	326.1%	68	-28.63	-31.45	30	50	7.44
Exceptional items before tax	67.2%	0	-2.05	0	-1.59	0	-4.9
Total profit before tax	311.5%	68	-30.68	-31.45	28	50	2.54
Deferred tax	286%	19	-8.68	-8.94	6.88	14	0.76
Total tax	286%	19	-8.68	-8.94	6.88	14	0.76
Total profit (loss) for period	308.7%	49	-22	-22.51	22	36	1.78
Other comp. income net of taxes	0%	-0.19	-0.19	-0.19	-0.65	-0.14	-0.22
Total Comprehensive Income	307%	49	-22.19	-22.7	21	35	1.56
Earnings Per Share, Basic	214.3%	4.43	-2	-2.05	1.96	3.23	0.16
Earnings Per Share, Diluted	213.7%	4.41	-2	-2.05	1.95	3.22	0.16

Consolidated figures (in Rs. Crores) / View Standalone Data

AnnualQuarterly

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020	Mar-2019
Revenue From Operations	7.3%	4,317	4,022	2,519	1,749	3,464	-
Other Income	-1.8%	56	57	168	224	34	-
Total Income	7.2%	4,372	4,079	2,687	1,973	3,498	-
Purchases of stock-in-trade	-3.3%	2,731	2,824	1,664	693	2,174	-
Employee Expense	11.7%	393	352	273	265	335	-
Finance costs	7.7%	225	209	207	223	197	-
Depreciation and Amortization	14.4%	437	382	355	392	450	-
Other expenses	2.5%	662	646	471	364	571	-
Total Expenses	8.8%	4,261	3,918	2,811	2,320	3,560	-
Profit Before exceptional items and Tax	-31.2%	111	161	-124.46	-346.87	-61.99	-
Exceptional items before tax	-149.7%	-6.49	-2	27	0	-9.65	-
Total profit before tax	-34.8%	104	159	-97.53	-346.87	-71.64	-
Current tax	-	0.21	0	-20.59	-1.48	25	-
Deferred tax	-38.1%	27	43	-31.52	-78.23	45	-
Total tax	-38.1%	27	43	-52.11	-79.71	70	-
Total profit (loss) for period	-33.9%	77	116	-47	-267.16	-142.02	-
Other comp. income net of taxes	-63%	-1.07	-0.27	-0.91	23	-177.07	-
Total Comprehensive Income	-34.8%	76	116	-47.91	-244.3	-319.09	-
Earnings Per Share, Basic	-37.1%	7.03	10.59	-4.29	-28.38	-16.14	-
Earnings Per Share, Diluted	-36.9%	7	10.51	-4.29	-28.38	-16.14	-

Description	(%) Q/Q	Dec-2024	Sep-2024	Jun-2024	Mar-2024	Dec-2023	Sep-2023
Revenue From Operations	23.7%	1,379	1,115	1,069	1,046	1,238	1,039
Other Income	151.4%	23	9.75	3.56	35	3.36	11
Total Income	24.6%	1,402	1,125	1,073	1,081	1,241	1,050
Purchases of stock-in-trade	22.8%	1,019	830	676	486	862	801
Employee Expense	4.8%	110	105	103	95	99	100
Finance costs	0%	65	65	61	58	59	55
Depreciation and Amortization	6.6%	130	122	117	112	111	108
Other expenses	7.5%	202	188	188	169	175	165
Total Expenses	15.5%	1,329	1,151	1,105	1,049	1,190	1,041
Profit Before exceptional items and Tax	360%	73	-26.69	-31.64	32	51	8.39
Exceptional items before tax	67.2%	0	-2.05	0	-1.59	0	-4.9
Total profit before tax	342.1%	73	-28.74	-31.64	30	51	3.49
Current tax	204.9%	1.43	0.59	0.02	0.21	0	0
Deferred tax	284.8%	19	-8.74	-8.94	6.67	14	0.76
Total tax	318.6%	21	-8.15	-8.92	6.88	14	0.76
Total profit (loss) for period	336.2%	52	-20.59	-22.72	23	37	2.73
Other comp. income net of taxes	0%	-0.19	-0.19	-0.19	-0.66	-0.14	-0.22
Total Comprehensive Income	334.2%	52	-20.78	-22.91	23	37	2.51
Earnings Per Share, Basic	230.7%	4.75	-1.87	-2.07	2.11	3.36	0.25
Earnings Per Share, Diluted	229.6%	4.72	-1.87	-2.07	2.1	3.33	0.24

Balance Sheet for Shoppers Stop

Standalone figures (in Rs. Crores) / View Consolidated Data

Description	(%) Q/Q	Sep-2024	Mar-2024	Sep-2023	Mar-2023	Sep-2022	Mar-2022
Cash and cash equivalents	0%	11	11	5.39	5.23	12	12
Current investments	-	0.43	0	0	48	115	146
Loans, current	0%	3.69	3.69	0	0	5.14	12
Total current financial assets	-23%	135	175	120	151	247	300
Inventories	12.7%	1,820	1,615	1,651	1,486	1,378	1,008
Total current assets	9.9%	2,284	2,078	2,046	1,894	1,845	1,495
Property, plant and equipment	-1.6%	493	501	446	413	380	379
Capital work-in-progress	37.5%	23	17	26	30	36	14
Non-current investments	9.3%	60	55	30	25	0.43	0.43
Loans, non-current	-	0	0	3.69	3.69	3.9	3.88
Total non-current financial assets	13.2%	215	190	179	166	149	106
Total non-current assets	3.8%	3,280	3,161	2,837	2,705	2,377	2,287
Total assets	6.2%	5,563	5,239	4,883	4,599	4,222	3,783
Borrowings, non-current	-	50	0	0	21	46	90
Total non-current financial liabilities	-97.9%	50	2,314	2,065	1,998	1,762	1,767
Total non-current liabilities	6.5%	2,464	2,314	2,065	1,998	1,762	1,767
Borrowings, current	4%	130	125	110	83	88	104
Total current financial liabilities	9.2%	2,703	2,475	2,442	2,257	2,205	1,816
Provisions, current	-	0.66	0	3.1	3.86	8.96	8.55
Total current liabilities	8.2%	2,815	2,601	2,555	2,369	2,316	1,917
Total liabilities	7.4%	5,279	4,915	4,620	4,367	4,077	3,685
Equity share capital	0%	55	55	55	55	55	55
Total equity	-12.4%	284	324	263	232	145	98
Total equity and liabilities	6.2%	5,563	5,239	4,883	4,599	4,222	3,783

Consolidated figures (in Rs. Crores) / View Standalone Data

Description	(%) Q/Q	Sep-2024	Mar-2024	Sep-2023	Mar-2023	Sep-2022	Mar-2022
Cash and cash equivalents	30%	14	11	5.87	9.9	12	13
Current investments	-	0	0	0	48	115	146
Loans, current	0.3%	4.11	4.1	0	0	5.14	13
Total current financial assets	-10.2%	169	188	127	156	240	295
Inventories	11.7%	1,885	1,687	1,701	1,500	1,378	1,008
Total current assets	10.2%	2,394	2,173	2,114	1,921	1,842	1,495
Property, plant and equipment	-0.6%	501	504	447	413	380	379
Capital work-in-progress	37.5%	23	17	26	30	36	14
Non-current investments	0%	4.01	4.01	0.01	0.01	0.01	0.01
Loans, non-current	-	0	0	4.1	4.1	4.11	4.09
Total non-current financial assets	15.2%	160	139	149	141	148	106
Total non-current assets	3.8%	3,240	3,121	2,812	2,683	2,378	2,288
Total assets	6.4%	5,634	5,294	4,926	4,603	4,221	3,783
Borrowings, non-current	-	50	0	0	21	46	90
Total non-current financial liabilities	-97.9%	50	2,317	2,065	1,998	1,762	1,767
Provisions, non-current	-	0	0	0.04	0.03	0	0
Total non-current liabilities	6.4%	2,466	2,317	2,065	1,998	1,762	1,767
Borrowings, current	1.7%	177	174	153	105	110	126
Total current financial liabilities	9.4%	2,788	2,548	2,508	2,286	2,227	1,837
Provisions, current	78.8%	0.82	0.15	3.1	3.86	8.96	8.55
Current tax liabilities	-	0	0	-	-	-	-
Total current liabilities	8.6%	2,905	2,676	2,623	2,400	2,339	1,939
Total liabilities	7.6%	5,372	4,993	4,688	4,397	4,100	3,707
Equity share capital	0%	55	55	55	55	55	55
Total equity	-12.7%	263	301	238	206	120	76
Total equity and liabilities	6.4%	5,634	5,294	4,926	4,603	4,221	3,783

Cash Flow for Shoppers Stop

Standalone figures (in Rs. Crores) / View Consolidated Data

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022
Finance costs	7.2%	224	209	205
Change in inventories	72.9%	-128.92	-478.79	-160.35
Depreciation	14.2%	436	382	352
Adjustments for interest income	-	14	0	8.69
Share-based payments	-	9.36	0	1.66
Net Cashflows from Operations	7.8%	611	567	368
Interest paid	-470.4%	0	1.27	0
Income taxes paid (refund)	-340.2%	-5.27	3.61	-21.01
Net Cashflows From Operating Activities	9.6%	616	562	389
Cashflows used in obtaining control of subsidiaries	-	30	0	0
Proceeds from sales of PPE	566.7%	2.6	1.24	0.98
Purchase of property, plant and equipment	19.3%	174	146	108
Proceeds from sales of long-term assets	-100.1%	0	1,377	758
Purchase of other long-term assets	-100.1%	0	1,288	767
Interest received	-81.1%	1.39	3.06	6.45
Other inflows (outflows) of cash	-	63	0	0
Net Cashflows From Investing Activities	-159.8%	-136.68	-51.99	-109.25
Proceeds from issuing shares	-152.6%	0	2.9	2.45
Proceeds from exercise of stock options	-	9.71	0	0
Proceeds from borrowings	-	60	0	100
Repayments of borrowings	-43.1%	63	110	56
Payments of lease liabilities	28.3%	282	220	121
Interest paid	6.7%	223	209	206
Other inflows (outflows) of cash	-	0.12	0	0
Net Cashflows from Financing Activities	7.3%	-497.66	-537.18	-280.42
Net change in cash and cash eq.	32.3%	-17.95	-26.99	-0.5

Consolidated figures (in Rs. Crores) / View Standalone Data

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022
Finance costs	7.7%	225	209	207
Change in inventories	61.9%	-186.77	-492.25	-157.96
Depreciation	14.4%	437	382	355
Adjustments for interest income	-	14	0	7.53
Share-based payments	-	9.36	0	1.66
Net Cashflows from Operations	1.3%	556	549	362
Interest received	51.7%	0	-1.07	0
Income taxes paid (refund)	-255.8%	-5.14	4.94	-20.57
Net Cashflows From Operating Activities	3.3%	561	543	383
Proceeds from sales of PPE	566.7%	2.6	1.24	0.99
Purchase of property, plant and equipment	20.7%	176	146	108
Proceeds from sales of long-term assets	-100.1%	0	1,377	765
Purchase of other long-term assets	-100.1%	0	1,264	767
Interest received	-74.9%	1.46	2.83	7.5
Other inflows (outflows) of cash	-	60	0	0
Net Cashflows From Investing Activities	-273.8%	-111.44	-29.08	-101.57
Proceeds from issuing shares	-157.1%	0	2.75	2.45
Proceeds from exercise of stock options	-	9.71	0	0
Proceeds from borrowings	-	80	0	116
Repayments of borrowings	-43.1%	63	110	59
Payments of lease liabilities	28.3%	282	220	122
Interest paid	7.7%	225	209	207
Other inflows (outflows) of cash	-	0.12	0	0
Net Cashflows from Financing Activities	10.8%	-479.2	-537.34	-270.19
Net change in cash and cash eq.	-26.5%	-29.35	-22.99	11

Valuation
Market Cap	6 kCr
Price/Earnings (Trailing)	186.9
Price/Sales (Trailing)	1.28
EV/EBITDA	7.77
Price/Free Cashflow	17.85
MarketCap/EBT	141.1

Fundamentals
Revenue (TTM)	4.68 kCr
Rev. Growth (Yr)	12.98%
Rev. Growth (Qtr)	24.66%
Earnings (TTM)	32.1 Cr
Earnings Growth (Yr)	41.74%
Earnings Growth (Qtr)	353.67%

Profitability
Operating Margin	0.99%
EBT Margin	0.91%
Return on Equity	12.22%
Return on Assets	0.57%
Free Cashflow Yield	5.6%

Ticker	Name	Mkt Cap	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
TRENT	Trent [Lakme Ltd]Speciality Retail	1.83 LCr	16.45 kCr	-3.32%	+19.01%	94.53	11.12	+42.29%	+138.76%
ABFRL	Aditya Birla Fashion and RetailSpeciality Retail	30.15 kCr	15.03 kCr	+2.66%	-0.19%	-40.83	2.01	+10.04%	-11.18%
V2RETAIL	V2 RetailSpeciality Retail	6.36 kCr	1.69 kCr	+7.83%	+249.87%	91.9	3.77	+57.65%	+321.76%
VMART	V-Mart RetailDiversified Retail	6.33 kCr	3.16 kCr	+10.75%	+50.02%	-542.63	2	+15.42%	+87.70%
SPENCERS	Spencer's RetailDiversified Retail	599.47 Cr	2.23 kCr	+3.08%	-36.32%	-2.32	0.27	-6.00%	-4.85%

Investor Care
Dividend Yield	0.12%
Dividend/Share (TTM)	0.75
Shares Dilution (1Y)	0.07%
Diluted EPS (TTM)	2.88

SHOPERSTOP - Shoppers Stop Ltd Share Price

What does Shoppers Stop Ltd do?

Sector Comparison: SHOPERSTOP vs Retailing

Comparative Metrics

Performance Comparison

Summary of Latest Earnings Report from Shoppers Stop

Share Holdings

Holding Pattern

Share Holding Details

Overall Distribution

Ownership Distribution

Income Statement for Shoppers Stop

Balance Sheet for Shoppers Stop

Cash Flow for Shoppers Stop

Valuation

Fundamentals

Profitability

Is Shoppers Stop Better than it's peers?

Investor Care

Financial Health

Price to Sales Ratio

Revenue (Last 12 mths)

Net Income (Last 12 mths)