Shoppers Stop Limited · NSE:SHOPERSTOP
Shoppers Stop — Q2 FY27 Earnings Presentation
44 slides from Shoppers Stop's earnings presentation, Oct 16, 2026
Slide 1: Shoppers Stop exchange filing cover letter
SHOPPERS STOP SEC/54/2026-27 October 16, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Fort, Bandra-Kurla Complex, Bandra (East), Mumbai 400 001. Mumbai 400 051. Stock Code : 532638 Stock Symbol : SHOPERSTOP Dear Sir / Madam, Sub.:
Slide 2: Press Release: Profitability Turnaround Continues; EBITDA momentum accelerates
Press Release for immediate distribution Profitability Turnaround Continues; EBITDA momentum accelerates Mumbai, October 16, 2026: Shoppers Stop Ltd., India’s pioneer destination for premium fashion, beauty, and non-apparels, announced its results for quarter ended 30th September’26, achieving PAT p
Slide 3: Management comments and strategic priorities update
More importantly, we delivered a meaningful turnaround in profitability, with Consolidated PAT turning positive at Rs 6 Cr compared to a loss of Rs 7 Cr in the last year and Standalone PAT also turning positive from a loss of Rs 10 Cr in last year, reflecting the strength of our operating leverage a
Slide 4: Note on non-GAAP and About Shoppers Stop
Note: We have published a detailed Non-GAAP and GAAP Income Statement. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP.
Slide 5: Q2 FY27 Performance Highlights
Q2 FY27 Performance Highlights
Slide 6: Our Vision
Our Vision We aim to be the most loved premium shopping destination for aspirational Young Indian families 2
Slide 7: Contents
Contents 01 Market Outlook 02 Performance Update 03 Beauty Distribution 04 Financials 3
Slide 8: Market Outlook
Market Outlook CUSTOMER INDUSTRY WAY FORWARD – Demand for quality, aspiration and – Domestic demand remained resilient – Inflation, crude prices, interest rates experiences continues to drive even as the overall operating and Rupee remain key variables for premiumisation environment stayed volatile
Slide 9: Contents
Contents 01 Market Outlook 02 Performance Update 03 Beauty Distribution 04 Financials 5
Slide 10: Q2 at a Glance
Q2 at a Glance (Non GAAP) SALES ̶ Consolidated Rs 1,618 Crs; +7% YoY ̶ Department format Rs 1,302 Crs, +4% YoY; +2% LFL (+7% Festive Adj. LFL) ̶ INTUNE Rs 72 Crs, +3% YoY (+6% Festive Adj. LFL) ̶ GSSBB Sales at Rs 168 Crs; +59% YoY; Momentum continues EXPANSION & RENOVATION ̶ Opened 4 Department, 2
Slide 11: H1 at a Glance
H1 at a Glance (Non GAAP) SALES ̶ Consolidated Rs 3,154 Crs; +8% YoY ̶ Department format Rs 2,544 Crs, +5% YoY; +4% LFL (+6% Festive Adj. LFL) ̶ INTUNE Rs 154 Crs, +12% YoY (+7% Festive Adj. LFL) ̶ GSSBB Sales at Rs 297 Crs; +56% YoY EXPANSION & RENOVATION ̶ Opened 17 stores ̶ 6 Department, 5 Beauty
Slide 12: Q2 Strategic Initiatives
Q2 Strategic Initiatives Sustaining and growing “Brand Love” through our campaigns ̵ “Gifts Of Love” IP activated for Rakshabandhan and upcoming festive period ̵ “Denim Decode” celebrates creative self-expression through 2,000+ curated styles, with Levi’s as Official Fashion Partner ̵ “Lip Land” a d
Slide 13: Q2 Strategic Initiatives Contd: First Citizen, Private Brand
Q2 Strategic Initiatives Contd…. First Citizen • Accelerating enrolments with focused engagement and personalized outreach – Highest ever Black card enrolments @ 40K (+24%); Renewal rate 66% – Silver card enrolments 208K – First Citizen Club Fest 2026 – 2.3L repeat member shopped (20th Aug-6th Sep)
Slide 14: Core Business Financial Update
Core Business Financial Update (Non GAAP) Particulars Q2 H1 Rs. Crs FY27 FY26 Gr% FY27 FY26 Gr% Sales 1,403 1,346 4% 2,747 2,612 5% EBITDA 49 46 7% 97 86 12% – Sales momentum sustained despite festive shift to Q3 Department Format Q2 H1 Overall Growth 4% 5% LFL Festive Adj. 7% 6% 10
Slide 15: Q2 Highlights – Core Business
Q2 Highlights – Core Business OPERATIONAL KPIS PREMIUMISATION POWER CATEGORIES +8% (Rs 5,527) Watches +24% Average transaction value Premium portfolio 73% +10% Sales YoY 73% Contribution (+390 bps) Handbags +16% +9% (Rs 1,903) Average selling price Fragrance +13% Sunglasses +8% +1% Personal shopper
Slide 16: Beauty
Beauty Inspiring through Expression, Engagement and Education Sales* Rs 367 Crs +18% YoY Beauty Business Network Led by Fragrance +35% YoY Retail Count ELCA portfolio growth continues, +4% LFL YoY Department stores 119 EBOs (incl. SSBeauty) 73 – Added 1 MAC Shop in Shop store Shop-in-shop 64 GSSBB D
Slide 17: New Ventures Performance Update
New Ventures Performance Update (Non GAAP) Particulars Q2 H1 Rs. Crs FY27 FY26* Gr% FY27 FY26* Gr% Sales 72 74 -3% 154 144 7% EBITDA -15 -23 35% -26 -38 33% *FY26 includes SSBeauty.in numbers Reduction in losses YoY; Rs 8 Crs in Q2 and Rs 12 Crs in H1 Led by improvement in INTUNE productivity & inte
Slide 18: New Store Launch, Key Campaigns & Collabs
New Store Launch, Key Campaigns & Collabs 14
Slide 19: Store Network Update
Store Network Update No. of Stores Additions Format Q1 Q2 As on Sep’26 Department 2 4 119 Beauty SSBeauty/Boutique 3 2 22 SSFragrance 2 Beauty EBOs 1 49 INTUNE 2 82 75 HomeStop 12 Cities Airport 3 Total 8 6 289 4.6 M sq ft area Capex Investment in Q2 Rs 39 Crs and YTD Rs 83 Crs 15
Slide 20: Sindhu Bhavan, Ahmedabad
Sindhu Bhavan, Ahmedabad Area: 24,812 sqft 16
Slide 21: Mall 11, Jabalpur
Mall 11, Jabalpur Area: 23,167 sqft 17
Slide 22: Bailey Square, Patna
Bailey Square, Patna Area: 27,077 sqft 18
Slide 23: Jhansi
Jhansi Area: 16,912 sqft 19
Slide 24: Marketing Campaigns
Marketing Campaigns Gifts of Love Lip Land Denim Decode Gifts Of Love Denim Decode • Guiness World RecordsTM title for the Longest Line of Lipsticks, bringing together • Gifting Category generated Rs 48 Crs Sales • Denim Category Growth beauty enthusiasts (+25% YoY) • Men’s +13% YoY; Women’s +17% Yo
Slide 25: New Collabs
New Collabs Shoppers Stop × RBL Bank A 3-tier co-branded credit card offering differentiated rewards, privileges and experiences STOP × Peter England Exclusive menswear collaboration, now across 53 stores 21
Slide 26: Contents
Contents 01 Market Outlook 02 Performance Update 03 Beauty Distribution 04 Financials 22 LID Brand activation
Slide 27: Beauty Distribution – Performance Update
Beauty Distribution – Performance Update +59% SALES Rs 168 Cr + 59% YoY 168 (Highest Quarterly Sales) 106 FY26 FY27 NEW BOUTIQUES LAUNCHED CREED — Chanakyapuri, Delhi Shiseido — Mall of Asia, Bangalore NETWORK UPDATE DISTRIBUTION BOUTIQUES 614 POS 11 Boutiques +42 in Q2 in Prestige Malls across 31 R
Slide 28: New Boutiques
New Boutiques Shiseido, Mall of Asia Bangalore CREED, Chankyapuri Delhi 24
Slide 29: Marketing Activations
Marketing Activations LID Brands: 360-degree Activation Versace Crystal Emerald Launch Shiseido Bangkok Event 7 Mall Animations 10+ Retailers activations across 400+ touchpoints Over 10Mn reach delivered Versace Launch Versace Launch 350+ HNIs | 100+ Influencer Click on the image above for the campa
Slide 30: Contents
Contents 01 Market Outlook 02 Performance Update 03 Beauty Distribution 04 Financials 26
Slide 31: Q2 Performance at a Glance
Q2 Performance at a Glance (Non GAAP) Core New Particulars Total GSSBB Consolidated Business Ventures Rs Crs FY27 FY26 FY27 FY26* FY27 FY26 FY27 FY26 FY27 FY26 Sales 1,403 1,346 72 74 1,475 1,420 168 106 1,618 1,507 EBITDA 49 46 -15 -23 34 23 9 5 43 28 *FY26 numbers include SSBeauty.in – Consolidate
Slide 32: H1 Performance at a Glance
H1 Performance at a Glance (Non GAAP) Core New Particulars Total GSSBB Consolidated Business Ventures Rs Crs FY27 FY26 FY27 FY26* FY27 FY26 FY27 FY26 FY27 FY26 Sales 2,747 2,612 154 144 2,901 2,756 297 190 3,154 2,908 EBITDA 97 86 -26 -38 71 48 15 10 86 58 *FY26 numbers include SSBeauty.in – Consoli
Slide 33: Financials Q2 FY27 (Consolidated)
Turned PAT Positive to Rs 6 Crs vs Loss of Rs 7 Crs LY Particulars Non GAAP GAAP Rs in Crs FY27 FY26 Gr% FY27 FY26 Gr% Gross Revenue Net Revenue 1618 1444 1507 1331 7% 8% 1523 1366 1416 1257 8% 9% Financials Other Income Total Revenue 28 1471 1355 24 18% 9% 23 1389 9 1266 141% 10% Q2 FY27 (CONSOLIDA
Slide 34: Financials H1 FY27 (Consolidated)
Turned PAT Positive to Rs 11 Crs vs Loss of Rs 11 Crs LY Particulars Non GAAP GAAP Rs in Crs FY27 FY26 Gr% FY27 FY26 Gr% Gross Revenue Net Revenue 3154 2817 2908 2569 8% 10% 2967 2658 2726 2418 9% 10% Financials Other Income Total Revenue 56 2873 2616 47 19% 10% 28 2686 20 2437 45% 10% H1 FY27 (CONS
Slide 35: Financials Q2 FY27 (Standalone)
Turned PAT Positive vs Loss of Rs 10 Crs LY Particulars Non GAAP GAAP Rs in Crs FY27 FY26 Gr% FY27 FY26 Gr% Gross Revenue Net Revenue 1475 1321 1420 1258 4% 5% 1382 1227 1319 1175 5% 4% Financials Other Income Total Revenue 28 1348 1282 24 18% 5% 23 1250 9 1185 140% 5% Q2 FY27 (STANDALONE) Margin 48
Slide 36: Financials H1 FY27 (Standalone)
Turned PAT Positive Rs 3 Crs vs Loss of Rs 16 Crs LY Particulars Non GAAP GAAP Rs in Crs FY27 FY26 Gr% FY27 FY26 Gr% Gross Revenue Net Revenue 2901 2601 2756 2441 5% 7% 2677 2412 2548 2270 5% 6% Financials Other Income Total Revenue 56 2657 47 2487 19% 7% 28 2440 19 2289 43% 7% H1 FY27 (STANDALONE)
Slide 37: Balance Sheet (Non-GAAP) (Standalone)
Balance Sheet (Non-GAAP) (STANDALONE) On track to be Debt free by Q3 end Particulars (Rs in Crs) Sep’26 Sep’25 Mar’26 Net worth 810 793 805 Loan Fund# 177 263 154 Total Liabilities 987 1056 959 Fixed Assets + Lease Deposit 891 891 871 Investments* 130 100 110 Inventory^** 2052 1962 1911 Other Assets
Slide 38: Cashflow (Standalone)
Cashflow (STANDALONE) Particulars (Rs in Crs) H1FY27 H1 FY26 FY26 Cash Profit from Operations (EBITDA) 71 47 146 Changes in Working Capital 9 64 155 Cash generated from Operations 80 112 301 Fixed Assets -83 -67 -124 Investment in Subsidiary -20 -40 -67 Interest Expense -7 -9 Cash post Investing Act
Slide 39: Annexure
Annexure 35
Slide 40: Business scale as on 30 Sep
Business scale 289 4.6 M 75 STORES SQUARE FEET CITIES As on 30 Sep th 14 M 800+ 14.4 M 2026 CUSTOMER FIRST CITIZENS BRANDS ENTRY in Q2 17% 23% 21.4 K Surat PRIVATE BRANDS BEAUTY MIX TALENT POOL Apparels mix, excl. INTUNE Includes brand staff 36
Slide 41: Our Portfolio
PREMIUM BRANDS MEN’S APPARELS Our Portfolio WOMEN’S APPARELS LIMITED EDITION WATCHES BEAUTY LEATHER ACCESSORIES 37 New Brand additions highlighted in Yellow
Slide 42: Our Portfolio
PREMIUM BRANDS Our Portfolio FRAGRANCE MAKEUP SKINCARE 38
Slide 43: Operational KPIs in Q2
Operational KPIs in Q2 ATV (Rs/-) ASP (Rs/-) +8% +9% 5109 5527 1903 4348 4729 1529 1640 1744 FY24 FY25 FY26 FY27 FY24 FY25 FY26 FY27 Items per Txn. (Nos.) 2.8 2.9 2.9 2.9 0.0 FY24 FY25 FY26 FY27 (Excluding Online and INTUNE) 39
Slide 44: Disclaimer
Disclaimer Certain statements in this release concerning our future growth prospects are forward-looking statements within the meaning of applicable securities laws and regulations, and which involve number of risks and uncertainties, beyond the Control of the company, that could cause actual result