Mumbai, May 5, 2026: Shoppers Stop Ltd., India’s leading destination for premium fashion and beauty, announced its results for the Fourth Quarter and Year ended on 31st Mar’26,delivering strong growth on revenue combined with high cash generation from operations.
FY26 Key highlights
- Department Stores recorded LFL Sales growth of 4.7%, highest in last 10 years
- Cash generated from operations Rs 301 Cr, highest in last 8 years
- Working Capital Optimization of Rs 155 Cr YoY
- Debt reduction by Rs 109 Cr YoY besides Rs 50 Cr Capital Infusion in GSSBB, on track to be debt-free by FY27
- GSSBB Gross revenue Rs 426 Cr, grew by 81% YoY, last 3 years CAGR at 90%
- Capex Investment of Rs 114 Cr; 27 stores added - Department 8, INTUNE 14, Beauty 3, HomeStop 2 besides renovation of 3 stores including Juhu store with state-of-the-artstore design offering premium and aspirational assortment
- First Citizen program - highest ever enrolments; Black card 134K (YoY +50%) and Silver 800K (YoY +16%)
- Personal shoppers recorded Rs 1200+ Cr revenue; Contribution at 26% (+400 Bps)
Q4 Operating KPIs
- Premium brands contributed 71% to total sales, Growth of 13% YoY (LFL +11%)
- Operational KPIs: ATV +8%, ASP +11%, and Customer entry +3% LFL (3rd consecutive Quarter of growth)
- Beauty segment sales at Rs 309 Cr, 17% growth YoY, led by Fragrance +37% YoY
- INTUNE sales at Rs 67 Cr; +24% YoY
Result in Detail
Key financial highlights for Q4FY26 (Standalone)
| GAAP | Non-GAAP | |||||
| Rs In Cr | Q4FY26 | Q4FY25 | Growth% | Q4FY26 | Q4FY25 | Growth% |
| Sales | 1,117 | 1,022 | 9% | 1,353 | 1,284 | 5% |
| EBITDA | 187 | 187 | Flat | 28 | 38 | -25% |
| PAT | -19 | 2 | -6 | 9 | ||
Key financial highlights for Q4FY26 (Consolidated)
| GAAP | Non-GAAP | |||||
| Rs In Cr | Q4FY26 | Q4FY25 | Growth% | Q4FY26 | Q4FY25 | Growth% |
| Sales | 1,210 | 1,064 | 14% | 1,448 | 1,339 | 8% |
| EBITDA | 193 | 188 | 2% | 33 | 38 | -11% |
| PAT | -17 | 2 | -3 | 8 | ||
Management Comments:
Commenting on the Q4 & FY26 results, Mr. Kavindra Mishra, MD and CEO, Shoppers Stop Ltd, said,
“We delivered a resilient performance in Q4 and FY26 in a challenging environment, driven by disciplined execution and a continued focus on premiumization. FY26 consolidated gross revenue stood at Rs 6,057 Cr, up 8% YoY, while our department store business crossed Rs 5,000 Cr (LFL+4.7%). Strong operational efficiency enabled Rs 301 Cr cash generation from operations, supported by working capital optimisation of Rs 155 Cr. During the year, we partly retired debt to the extent of Rs 109 Cr and remain on track to become debt‑ free by FY27.”
“We are encouraged by resilience in consumption inspite of Global uncertainty and Supply Chain disruptions. The Indian fashion market is gaining momentum, led by fast fashion and premium/ bridge‑to‑luxury segments. While supply‑chain disruptions may create some inflationary pressures, we believe demand scenario to remain healthy.
“Our priorities remain focused on strengthening the core, scaling non-apparels, improving GMROF, keeping the cost structure leaner and ensuring prudent capital deployment. These actions position us well to deliver sustainable long‑term value.”
Progress across Strategic Priorities in Q4FY26:
- First Citizen: First Citizen contributing 83% of total sales, led by 68% from repeat members and 15% from new acquisitions. The memberbase expanded to 13.5 million, supported by strong enrolments across tiers, with over 32K Premium Black Card (+42% YoY) and 182K Silver Card (+11% YoY) additions during the quarter. The Black Card segment contributed 21% of total sales, reflecting deeper engagement with premium customers
- Beauty: The Beauty segment reported sales of Rs 309 Cr, delivering 17% YoY growth, led by a strong performance in the fragrance category, which grew 37% YoY. Customer engagement remained robust, supportedby 200K+ makeovers, 370+ masterclasses, and 9 Beauty Soirée events
Global SSBeauty (Beauty Distribution business) continued to outperform, recording quarterly sales of Rs 114 Cr, up 69% YoY
- Private Brands: Delivered steady performance with improved profitability and productivity driven by elevated product portfolio and improved margin profile. Overall Inventory reduced by Rs 40 Cr Vs Mar’25. FRATINI Girl-Premium apparels line for young girls expanded its presence to 69 stores
- Store Expansion and Financial discipline– During the quarter, we launched 9 Stores; 4 Department, 4 INTUNE and 1 HomeStop. Capital investment during the quarter was Rs 25 Cr.
