Shoppers Stop

Q4 FY25Retailing

Shoppers Stop Q4 FY25 Results & Concall Highlights: Revenue, Margins & Order Book

Q4 FY25 earnings call: what management guided on revenue, margins and order book.

Price₹421

Market cap₹4.6K Cr

Updated23 Aug 2026

Read4 min read

The short version

Industry expected to maintain growth momentum in 2025 driven by rising disposable incomes, urbanization, and growing middle class. EBITDA for FY '25 declined by 19% non-GAAP but showed a 16% increase in H2, indicating improving momentum.

From Shoppers Stop's Q4 FY25 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

Industry expected to maintain growth momentum in 2025 driven by rising disposable incomes, urbanization, and growing middle class.
Shoppers Stop expects growth through key pillars: brands, beauty business expansion, and retail store expansion.
Beauty business at consolidated level grew 3% with strong customer engagement; Global SSBeauty subsidiary reported nearly 100% sales increase.
INTUNE planned expansion of 40-60 stores in FY '26 aiming for increased productivity and sales growth.
Departmental stores targeting 6-7 new stores with focus on profitable growth and premiumization.
Like-for-like (LFL) growth of mid-single-digit expected; older stores showing improving sales productivity (10,000+ INR per sqft annualized).
Marketing and customer-centric initiatives ("India Weds Shoppers Stop", "Gifts of Love") showing encouraging results.
Expectation of improving full-price sell-through and cost benefits deriving margin expansion over next 2-3 years.

Profitability & Margins

EBITDA for FY '25 declined by 19% non-GAAP but showed a 16% increase in H2, indicating improving momentum.
Profit Before Tax (PBT) rose by 10% in the second half, showing a positive trend.
FY '26 expectations include decent top-line growth, EBITDA, and profit improvement driven by recovering customer demand.
Borrowings expected to reduce significantly in FY '26 due to inventory rationalization and funding new stores through internal accruals.
INTUNE expansion with 40-60 new stores planned in FY '26, aimed at boosting revenues and margins over the medium term.
Department store business targets profitable growth with 6-7 new stores, focusing on KPIs and customer experience.
Margin improvement expected via supply leverage, better pricing, and higher full-price sell-through over 2-3 years.
Overall, management confident of mid-single-digit same-store sales growth and higher margins in FY '26 and beyond.

See what Shoppers Stop said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

FY '25 capital allocation included Rs 192 crores in fixed assets and deposits, and Rs 126 crores in working capital, primarily for INTUNE and Beauty businesses.
Increased borrowings of Rs 137 crores during FY '25 to finance new business working capital (INTUNE, Global SSBeauty) and onboarding new brands.
For FY '26, full capital expenditure will be funded through internal accruals—no external borrowings planned.
Planned FY '26 expansion includes opening 6 to 7 Departmental stores and 40 to 60 INTUNE stores.
Focus on rationalizing working capital to reduce borrowings significantly in FY '26.
Continued investments in marketing campaigns (e.g., India Weds Shoppers Stop, Gifts of Love) to drive growth.

Top-ranked in Retailing

Ranked on what management guided this quarter

5x potential

1V2 Retail₹8.0K Cr

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2Entero Healthcar₹7.9K Cr

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3₹730 Cr

Rev 2Mar 2

4₹3.1L Cr

Rev 2Mar 3

5₹1.2L Cr

Rev 2Mar 3

Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

For FY '26, Shoppers Stop plans to reduce borrowings significantly by focusing on lowering working capital by INR 100 crores.
Capital expenditure for FY '26 will be funded entirely through internal accruals, indicating no immediate need for new debt or equity fundraising.
Increased borrowings of INR 137 crores in the previous year were primarily to support new businesses like INTUNE and Global SSBeauty, but the company intends to reduce this going forward.
Management's clear plan is to grow profitably and fund expansion through internal accruals rather than taking on more debt.
No specific mention of any upcoming equity fundraising was made in the provided discussion.

See what Shoppers Stop said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The provided pages from the Shoppers Stop Limited document do not contain specific information about the company's current or expected order book or pending orders. The discussion primarily focuses on: - Store closures and performance of INTUNE and departmental stores. - Expansion plans: Opening 6-7 departmental stores and 40-60 INTUNE stores in FY '26. - Inventory management strategies including end-of-season sales and stock provisioning. - Financials related to borrowings, margins, and capital allocations. - Customer engagement through loyalty programs like First Citizen and Personal Shoppers. No explicit details regarding order book status or pending orders are mentioned in these excerpts.

Shoppers Stop — Quarterly revenue & net profit

Revenue Net profit Net loss

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹1.2K Cr, net loss ₹16 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

Full financials →

What Shoppers Stop Ltd's management said in earlier quarters

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Frequently Asked Questions

What were Shoppers Stop Q4 FY25 results?

What is Shoppers Stop share price analysis?

Shoppers Stop currently shows a neutral. The stock trades at a P/E of N/A with a market cap of ₹4,643 Cr. Investors should review the full earnings analysis for detailed insights.

Is Shoppers Stop planning capital expenditure?

FY '25 capital allocation included Rs 192 crores in fixed assets and deposits, and Rs 126 crores in working capital, primarily for INTUNE and Beauty businesses.

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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.