Want to see IN:SHOPERSTOP full AI Analyst Report?
Top Page
Shoppers Stop Limited
(SHOPERSTOP)
Select Model
Select Model
Rating:55Neutral
Price Target:
₹394.00
▲(4.36% Upside)
Action:Reiterated
Date:10/16/26
The score is driven primarily by a mixed financial profile: strong and improving cash flows offset by high leverage and a recent swing back to net losses. The earnings call adds support due to a profitability turnaround in the latest quarter and upbeat expansion/profitability guidance, but technical indicators remain weak (below key moving averages with negative MACD) and valuation is impaired by a negative P/E with no dividend yield provided.
Positive Factors
Strong cash generation
Consistently positive free cash flow and stronger operating cash generation provide internally generated funding for debt service, reinvestment, and store growth. This resilience is particularly valuable because it supports ongoing operations even while reported earnings remain volatile.
Negative Factors
High financial leverage
The debt-heavy capital structure leaves limited balance-sheet flexibility relative to the equity base. High leverage can absorb a substantial share of future cash generation, increase sensitivity to earnings volatility, and constrain the company's ability to fund expansion or withstand weaker trading.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Consistently positive free cash flow and stronger operating cash generation provide internally generated funding for debt service, reinvestment, and store growth. This resilience is particularly valuable because it supports ongoing operations even while reported earnings remain volatile.
Read all positive factors
Shoppers Stop Limited (SHOPERSTOP) vs. iShares MSCI India ETF (INDA)
Market Cap
₹37.73B
Dividend Yield0.16%
Average Volume (3M)54.12K
Price to Earnings (P/E)―
Beta (1Y)0.62
Revenue Growth8.68%
EPS Growth-161.79%
CountryIN
Employees7,055
SectorGeneral
Sector StrengthN/A
IndustryDepartment Stores
Share Statistics
EPS (TTM)-3.15
Shares Outstanding110,205,666
10 Day Avg. Volume136,759
30 Day Avg. Volume54,118
Financial Highlights & Ratios
PEG Ratio0.20
Price to Book (P/B)10.93
Price to Sales (P/S)0.63
P/FCF Ratio4.69
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)1.79
Revenue Forecast (FY)₹55.02B
Shoppers Stop Limited Business Overview & Revenue Model
Company Description
Shoppers Stop Limited, an Indian retail enterprise, provides a broad array of household and consumer goods. Its main Shoppers Stop department stores offer clothing for men, women, and children, along with various accessories like perfumes, cosmeti...
How the Company Makes Money
Shoppers Stop primarily makes money by retailing merchandise to consumers through its department store network and online channels. Its core revenue stream is the sale of goods across key categories such as apparel, beauty/cosmetics, accessories, ...
Shoppers Stop Limited Earnings Call Summary
Earnings Call Date:Oct 16, 2026
(Q2-2027)
| % Change Since: |
Next Earnings Date:Jan 21, 2027
Earnings Call Sentiment Positive
The call was predominantly positive, supported by a 7% increase in non-GAAP consolidated revenue, 56% EBITDA growth, a return to positive PAT, strong festive demand, robust beauty distribution growth, improved loyalty and premiumization metrics, e-commerce growth of 52%, inventory optimization, and continued expansion plans. The main challenges were INTUNE's ongoing loss-reduction and store-closure process, modest reported departmental-store like-for-like growth before calendar adjustment, the historical decline in Estée Lauder, negligible owned D2C beauty scale, and investor concerns about the past two years' negative return. Highlights significantly outweighed lowlights.Positive Updates
Strong Q2 Profitability Turnaround
On a non-GAAP consolidated basis, Q2 revenue grew 7% and EBITDA grew 56%, with PAT turning from a loss of INR 7 crore last year to a profit of INR 6 crore this year. On a GAAP basis, PAT improved from an INR 20 crore loss to an INR 3 crore profit.
Negative Updates
Departmental Store Reported Like-for-Like Growth Was Modest
Departmental Store like-for-like growth was 2% in Q2 before adjustment for the festive calendar shift. The adjusted like-for-like growth was 6.5%, while total growth was 4%.
Read all updates
Q2-2027 Updates
Positive
Negative
Strong Q2 Profitability Turnaround
On a non-GAAP consolidated basis, Q2 revenue grew 7% and EBITDA grew 56%, with PAT turning from a loss of INR 7 crore last year to a profit of INR 6 crore this year. On a GAAP basis, PAT improved from an INR 20 crore loss to an INR 3 crore profit.
Read all positive updates
Company Guidance
Management guided to 12 departmental store openings this year, versus the earlier 9-10, including the seventh store at Pacific Mall in Jaipur on 23rd October, with guidance of around 10-12 stores for the coming two or three years and visibility of at least 12 stores every year over the next three years; it is looking at one or two store closure, expects Personal Shopper contribution to reach 30% of revenue by end of the year, expects INTUNE losses to reduce further in Q3 and Q4, plans to discuss INTUNE expansion in the Q3 earnings call after giving the business time till end of December, and expects Q3 to be a very strong quarter, while maintaining estimated revenue growth of mid-single or slightly higher LFL FY 2027 and healthy expansion of profitability.Shoppers Stop Limited Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
33
Negative
Cash Flow
72
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 51.74B | 50.43B | 46.28B | 43.17B | 40.22B | 25.19B |
| Gross Profit | 10.30B | 10.10B | 19.00B | 8.20B | 8.52B | 2.88B |
| EBITDA | 7.83B | 7.44B | 7.08B | 7.66B | 7.50B | 4.64B |
| Net Income | -345.90M | -360.90M | 108.90M | 772.50M | 1.16B | -470.00M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 62.91B | 60.95B | 52.94B | 46.03B | 37.83B |
| Cash, Cash Equivalents and Short-Term Investments | 127.10M | 127.10M | 140.20M | 166.30M | 793.70M | 1.78B |
| Total Debt | 0.00 | 33.17B | 33.14B | 27.85B | 23.75B | 21.15B |
| Total Liabilities | -2.91B | 60.00B | 57.73B | 49.93B | 43.97B | 37.07B |
| Stockholders Equity | 2.91B | 2.91B | 3.21B | 3.01B | 2.06B | 759.30M |
Cash Flow | ||||||
| Free Cash Flow | 2.90B | 6.78B | 3.66B | 3.85B | 3.97B | 2.75B |
| Operating Cash Flow | 3.68B | 8.17B | 5.49B | 5.61B | 5.43B | 3.83B |
| Investing Cash Flow | -767.30M | -1.31B | -1.69B | -1.11B | -290.80M | -1.02B |
| Financing Cash Flow | -2.52B | -6.52B | -4.09B | -4.79B | -5.37B | -2.70B |
Shoppers Stop Limited Technical Analysis
Negative
377.55
Price Trends
388.77
Negative
383.02
Negative
358.37
Negative
Market Momentum
-15.70
Positive
33.43
Neutral
12.43
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SHOPERSTOP, the sentiment is Negative. The current price of 377.55 is above the 20-day moving average (MA) of 376.85, below the 50-day MA of 388.77, and above the 200-day MA of 358.37, indicating a bearish trend. The MACD of -15.70 indicates Positive momentum. The RSI at 33.43 is Neutral, neither overbought nor oversold. The STOCH value of 12.43 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:SHOPERSTOP.
Shoppers Stop Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ₹61.18B | 4.66 | ― | 0.13% | 19.09% | 104.43% | |
63 Neutral | ₹20.78B | 21.35 | ― | 0.60% | 16.08% | 24.68% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹37.73B | -329.04 | ― | 0.16% | 8.68% | -161.79% | |
54 Neutral | ₹48.82B | 40.87 | ― | 0.44% | 13.94% | ― | |
40 Underperform | ₹1.62B | -0.65 | ― | ― | -0.49% | 6.19% |
* General Sector Average
IN:SHOPERSTOP
Shoppers Stop Limited
342.40
-182.85
-34.81%
IN:ARVINDFASN
Arvind Fashions Ltd.
365.15
-151.84
-29.37%
IN:CANTABIL
Cantabil Retail India Limited
248.45
-9.27
-3.60%
IN:FEL
Future Enterprises Ltd
0.49
0.00
0.00%
IN:SPENCERS
Spencer's Retail Ltd.
17.95
-34.50
-65.78%
IN:VMART
V-Mart Retail Ltd
768.80
-58.49
-7.07%
Shoppers Stop Limited Corporate Events
Shoppers Stop Schedules Investor Meet with HDFC Mutual Fund
Sep 10, 2026
Shoppers Stop Limited has notified the stock exchanges that its senior management will meet representatives of HDFC Mutual Fund in person on September 16, 2026, at 4:00 p.m. The company clarified that no unpublished price-sensitive information wil...
Shoppers Stop Publishes June-Quarter Results in Line with SEBI Norms
Jul 24, 2026
Shoppers Stop Limited announced that it has published its financial results for the quarter ended June 30, 2026 in leading newspapers, following approval of the results by its Board of Directors on July 22, 2026. The disclosures, made under SEBI&#...
Shoppers Stop expands employee equity as SSL Plan 2022 advances
Jul 22, 2026
Shoppers Stop’s Nomination Remuneration Corporate Governance Committee has approved the allotment of 80,916 equity shares following the exercise of vested employee stock options under its 2022 stock option plan, marginally increasing the co...
Shoppers Stop Ups Share Capital With ESOP Allotment, Grants Fresh Equity Awards
Jul 22, 2026
Shoppers Stop has approved the allotment of 80,916 equity shares following the exercise of vested employee stock options under its 2022 stock option plan, marginally increasing its paid-up share capital to Rs. 55.10 crore spread over 11.02 crore s...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.