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Swing Capital

Shoppers Stop Ltd

NSE: SHOPERSTOP BSE: 532638

Company Overview Shoppers Stop Ltd. is the nation's leading premier retailer of fashion and beauty brands established in 1991. [1] It has 800+ Brands under its portfolio and 271 Stores spread across 50 cities in India as of 31st Dec 2022. [2]

₹327
52W: ₹267 — ₹589
PE 0 · Book ₹27.2 · +1102% vs book
Market Cap₹3,597 Cr
Stock P/E—Price to Earnings
ROCE6.66%Return on Capital
ROE8.59%Return on Equity
Div. Yield0%Face Value ₹5

Weaknesses

  • −Stock is trading at 11.7 times its book value
  • −Company has low interest coverage ratio.
  • −Company has a low return on equity of 6.13% over last 3 years.

Shareholding Pattern

Promoters66.06%
FIIs2.06%
DIIs25.45%
Public6.44%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters65.58%65.57%▼0.065.54%▼0.065.52%▼0.065.52%65.53%▲0.065.7%▲0.266.06%▲0.4
FIIs7.43%7.08%▼0.33.32%▼3.83.13%▼0.23.09%▼0.02.94%▼0.12.79%▼0.12.06%▼0.7
DIIs22.22%22.67%▲0.525.32%▲2.625.51%▲0.225.48%▼0.025.58%▲0.125.44%▼0.125.45%▲0.0
Public4.78%4.68%▼0.15.81%▲1.15.83%▲0.05.91%▲0.15.95%▲0.06.06%▲0.16.44%▲0.4

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales1,2071,0001,0341,0681,3111,0221,0941,1751,3211,117
Expenses9918368929211,0728539281,0111,111939
Operating Profit215164142147240169166164210178
OPM %18%16%14%14%18%17%15%14%16%16%
Net Profit3622-23-22492-18-2313-18
EPS ₹3.231.96-2.05-24.430.22-1.63-2.061.15-1.66

AI Insights

Revenue Trend

Mar 2026 revenue at ₹4,708Cr, up 6.1% YoY. OPM at 15%.

Debt Position

Borrowings at ₹3,216Cr. Debt-to-equity ratio: 13.18x. High leverage — monitor closely.

Capex Cycle

CWIP at ₹4Cr (0% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 25.45% (+4.08pp change). FIIs: 2.06% (-4.77pp change). Promoters hold 66.06%.

Margin & Efficiency

ROCE declining from 10% (Mar 2015) to 7% (Mar 2026). Working capital days: -44.

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