Shoppers Stop (SHOPERSTOP) investor relations material

Executive summary

• Departmental store business crossed INR 5,000 crore revenue for the first time, with consolidated sales reaching Rs 6,057 Cr, up 8% YoY, and like-for-like growth of up to 5%.

• Beauty segment delivered Rs 426 Cr in sales, up 81% YoY, with a 3-year CAGR of 90%.

• Premiumization initiatives led to 69% premium portfolio contribution and 11% sales growth in premium categories.

• Loyalty program saw record additions, with 9.4 lakh new recruits and 67,000 new Black Card members; First Citizen Club Black card up 50% YoY.

• Audited standalone and consolidated financial results for FY26 were approved, with statutory auditors issuing an unmodified opinion.

Financial highlights

• Generated highest operating cash flow in eight years at INR 301 crores, aided by working capital optimization of INR 155 crores.

• Q4 consolidated sales were Rs 1,448 Cr, up 8% YoY; EBITDA at Rs 38 Cr, down from Rs 57 Cr last year, excluding a one-off gain.

• Consolidated revenue from operations for FY26 was Rs. 5,043.32 Crores, up from Rs. 4,627.64 Crores in FY25.

• PAT for the year was -Rs 2 Cr (Non-GAAP), compared to Rs 28 Cr last year; consolidated net loss for FY26 was Rs. 36.09 Crores.

• Beauty business revenue reached INR 1,281 crores for the year, up 17% YoY; beauty distribution revenue was INR 426 crores, up 81% YoY.

Outlook and guidance

• Focus remains on premiumization, store renovations, and expansion in premium malls, with plans to add 14 new stores (9 department, 5 beauty) in FY27.

• INTUNE expansion paused for H1 FY 2027 to focus on operational efficiency; breakeven targeted by FY 2028.

• Expect to be debt-free by Q4 FY 2027, with continued investment in growth and beauty distribution.

• The company is investing further in its beauty subsidiary to support expansion and working capital.