Shoppers Stop Ltd

The key equity benchmarks traded with moderate losses in early afternoon trade. The Nifty traded below the 25,150 mark. The sharp rise in India VIX indicates growing volatility expectations as investors stay on the sidelines ahead of key Q3 earnings outcomes and cues from the World Economic Forum. PSU bank shares witnessed selling pressure for third consecutive trading session. At 12:25 IST, the barometer index, the S&P BSE Sensex declined 276.82 points or 0.36% to 81,854.74. The Nifty 50 index fell 97.85 points or 0.39% to 25,134.65. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 0.95% and the S&P BSE Small-Cap index fell 0.75%. The market breadth was weak. On the BSE, 1,184 shares rose and 2,892 shares fell. A total of 152 shares were unchanged. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 6.71% to 13.59. The Nifty 27 January 2026 futures were trading at 25,162.30, at a premium of 27.65 points as compared with the spot at 25,134.65. The Nifty option chain for the 27 January 2026 expiry showed a maximum call OI of 151.4 lakh contracts at the 26,000 strike price. Maximum put OI of 125.3 lakh contracts was seen at 25,000 strike price. Buzzing Index: The Nifty PSU Bank index declined 1% to 8,779. The index fell 2.61% in the previous three consecutive trading sessions. Canara Bank (down 1.57%), Union Bank of India (down 1.45%), Indian Overseas Bank (down 1.27%), Punjab National Bank (down 1.11%), State Bank of India (down 0.82%), Bank of Baroda (down 0.79%), Bank of India (down 0.79%), Indian Bank (down 0.51%), Punjab & Sind Bank (down 0.4%) and Central Bank of India (down 0.24%) declined. Stocks in Spotlight: Shoppers Stop tanked 6.29% after the company's standalone profit slipped 74.14% to Rs 12.61 crore in Q3 FY26, compared with Rs 48.78 crore in Q3 FY25. Revenue from operations marginally rose 0.71% year on year (YoY) to Rs 1,320.85 crore in Q3 FY26. Vikram Solar tumbled 6.86% after the company reported a 25.2% decline in consolidated net profit to Rs 96.1 crore on a 0.36% fall in revenue from operations to Rs 1,105.95 crore in Q3 FY26 over Q2 FY26.Powered by Capital Market - Live

Revenue from operations marginally rose 0.71% year on year (YoY) to Rs 1,320.85 crore in Q3 FY26. The company posted a GAAP EBITDA of Rs 234 crore in Q3 FY26, down from Rs 262 crore in Q3 FY25. Non-GAAP EBITDA for the December 2025 quarter stood at Rs 70 crore, reflecting a 36% YoY decline. The GAAP gross margin came in at 39.4% in Q3 FY26, slightly lower than the 40.7% recorded in Q3 FY25. The average transaction value (ATV) and average selling price (ASP) both rose 7% year-on-year in Q3 FY26. During the quarter, premium brands contributed 69% of total sales, up 6% year-on-year, with like-for-like (LFL) growth also at 6%. In Q3 FY26, core business sales stood at Rs 1,516 crore, remaining flat year-on-year. Beauty segment sales rose 14% to Rs 395 crore, while INTUNE sales grew 22% to Rs 77 crore. Shoppers Stop's First Citizen loyalty program remained a key driver of sales, contributing 84% of total revenue during the quarter. The member base expanded to 13.3 million, supported by strong enrollments across tiers and a record addition of Premium Black Card members. The Black Card segment's contribution rose to 21% of total sales, reflecting higher engagement from premium customers. The Beauty category sustained strong performance, led by growth in fragrances and continued expansion of global luxury brands. During the quarter, the company launched eight Est'e Lauder Brands SIS stores and strengthened customer engagement through initiatives such as makeovers, masterclasses, and curated beauty events. The Beauty Distribution business scaled further, delivering 58% year-on-year growth. The Private Brands portfolio delivered steady performance, aided by focused product launches. FRATINI Girls, a new apparel line for young girls, received a positive initial response across eight stores, with plans to expand to 60 stores. The INTUNE value fashion format grew year-on-year, though performance was impacted by subdued discretionary demand. The company continues to strengthen the format through targeted investments in existing stores while maintaining disciplined capital allocation. During Q3 FY26, Shoppers Stop expanded its retail network with the opening of three department stores, three INTUNE stores, and one HomeStop store. Capital expenditure for the quarter stood at Rs 35 crore, taking year-to-date capex to Rs 89 crore. Working capital was reduced during the quarter, while net debt remained stable at Rs 90 crore. Kavindra Mishra, Managing Director & CEO, Shoppers Stop Ltd, said, 'Q3 was marked by external factors such as festive calendar shifts and uneven consumption trends, which weighed on overall sales. However, we continued to make steady progress on our strategic priorities. Premium brands grew on a like-for-like basis and now account for 69% of our total sales, reinforcing the direction of our portfolio shift. [ The re-launch of our Juhu store as one of India's most premium experiential retail destinations reflects our long-term commitment to differentiated customer experiences. Categories such as Beauty, Handbags and Watches continue to scale well, and our Beauty Distribution business has delivered strong year-on-year growth. While discretionary demand remained subdued for INTUNE, we are taking a calibrated approach to strengthening the format through focused investments and measured expansion. As macro conditions improve, we believe our investments in premium offerings, personalization and omnichannel capabilities position us well for sustainable growth.' Shoppers Stop is the nation's leading premier retailer of fashion and beauty brands. Powered by Capital Market - Live

Net profit of Shoppers Stop declined 69.14% to Rs 16.12 crore in the quarter ended December 2025 as against Rs 52.23 crore during the previous quarter ended December 2024. Sales rose 2.64% to Rs 1415.82 crore in the quarter ended December 2025 as against Rs 1379.47 crore during the previous quarter ended December 2024. ParticularsQuarter EndedDec. 2025Dec. 2024% Var. Sales1415.821379.47 3 OPM %15.3917.82 - PBDT170.18202.87 -16 PBT37.3872.84 -49 NP16.1252.23 -69 Powered by Capital Market - Live

Shoppers Stop will hold a meeting of the Board of Directors of the Company on 20 January 2026.Powered by Capital Market - Live

Net Loss of Shoppers Stop reported to Rs 20.11 crore in the quarter ended September 2025 as against net loss of Rs 20.59 crore during the previous quarter ended September 2024. Sales rose 12.71% to Rs 1256.62 crore in the quarter ended September 2025 as against Rs 1114.87 crore during the previous quarter ended September 2024. ParticularsQuarter EndedSep. 2025Sep. 2024% Var. Sales1256.621114.87 13 OPM %13.5613.44 - PBDT107.3395.07 13 PBT-26.86-26.69 -1 NP-20.11-20.59 2 Powered by Capital Market - Live

Shoppers Stop will hold a meeting of the Board of Directors of the Company on 17 October 2025.Powered by Capital Market - Live

However, revenue from operations increased 5.85% year on year (YoY) to Rs 1,094.19 crore in the first quarter of FY26. The firm posted a pre-tax loss of Rs 22.83 crore in Q1 FY26, compared to a pre-tax loss of Rs 31.45 crore for Q1 FY25. The company reported a GAAP EBITDA of Rs 176 crore in Q1 FY26, compared to Rs 146 crore in Q1 FY25. Non-GAAP EBITDA stood at Rs 26 crore in the June 2025 quarter, registering a growth of 68% YoY. The company reported a GAAP gross margin of 40.9% for Q1 FY26, marginally higher than 40.6% in the corresponding quarter of FY25. Meanwhile, non-GAAP gross margin stood at 37.6% for the June 2025 quarter, slightly down from 37.7% in Q1 FY25. The average transaction value (ATV) rose 6% YoY to Rs 5,169 crore in Q1 FY26. During the quarter, private brands sales for the quarter were at Rs 156 crore with a contribution of 13% to Sales and 18% on apparel's sale. The company's wholly-owned subsidiary, Global SS Beauty Brands, continued its strong performance, reporting sales of Rs 84 crore in Q1FY26, a robust year-on-year growth of 117%. The company's First Citizen programme remained a major growth driver, contributing 85% to overall sales. Beauty distribution revenue stood at Rs 84 crore in Q1 FY26, registering a robust 117% year-on-year growth. INTUNE, the company's fashion and lifestyle retail format, posted sales of Rs 68 crore'doubling its performance over the previous year. During the quarter, the company opened four new INTUNE stores, with capital expenditure amounting to Rs 21 crore. Commenting on the Q1FY26 performance, Kavindra Mishra, CEO and MD of Shoppers Stop, said, 'We have delivered an impressive performance. Consumers are becoming more discerning and are willing to spend more. In a crowded marketplace, premiumisation allows retailers to stand out. As a leader in premium category products, our initiatives helped increase the contribution of our premium portfolio to 67%, reflecting 8% year-on-year growth and 9% like-for-like (LFL) growth.' Outlook for FY26 The company remains committed to its premiumisation strategy and plans a series of new launches aimed at increasing the premium portfolio's share to 70% by the end of FY26. Shoppers Stop is optimistic that an above-average monsoon and recent cuts in income tax rates will boost consumer demand. In addition, the retailer will focus on inventory optimisation to ensure 'the right products at the right time,' while also working to strengthen cash flows. Meanwhile, B.S. Nagesh has stepped down as chairman of Shoppers Stop, bringing to a close a leadership tenure spanning over three decades. His retirement, announced at the company's Annual General Meeting on Thursday, marks the end of an era for the Mumbai-based retailer, which is currently navigating a phase of senior-level exits and intensifying market competition. The board of Shoppers Stop has appointed Nirvik Singh, International President at global advertising and marketing agency Grey Group, as the new Chairman, effective 18 July. Singh has been a member of the company's board since June 2008. Shoppers Stop is the nation's leading premier retailer of fashion and beauty brands. Shares of Shoppers Stop declined 4.40% to Rs 545 on the BSE. Powered by Capital Market - Live

Net Loss of Shoppers Stop reported to Rs 15.74 crore in the quarter ended June 2025 as against net loss of Rs 22.72 crore during the previous quarter ended June 2024. Sales rose 8.58% to Rs 1161.08 crore in the quarter ended June 2025 as against Rs 1069.31 crore during the previous quarter ended June 2024. ParticularsQuarter EndedJun. 2025Jun. 2024% Var. Sales1161.081069.31 9 OPM %14.7713.37 - PBDT108.4385.47 27 PBT-20.91-31.64 34 NP-15.74-22.72 31 Powered by Capital Market - Live

Shoppers Stop has allotted 53,024 equity shares under ESOP on 17 July 2025. Post allotment of these shares, the share capital of the Company stands increased to Rs. 55,05,60,525 divided into 11,01,12,105 shares of Rs. 5/- each.Powered by Capital Market - Live

Shoppers Stop will hold a meeting of the Board of Directors of the Company on 17 July 2025.Powered by Capital Market - Live