Slide 1: Shoppers Stop exchange filing cover letter
SHOPPERS STOP SEC/7/2026-27 May 05, 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.: Pres
Slide 2: Press Release: Resilient performance in Q4 and FY26
Press Release for immediate distribution Shoppers Stop Ltd. delivered a resilient performance Q4 Revenue Rs 1,117 Cr, +9% YoY and EBITDA Rs 187 Cr; Annual Revenue of Rs 4,708 Cr, +6% YoY and EBITDA Rs 770 Cr (GAAP) Mumbai, May 5, 2026: Shoppers Stop Ltd., India’s leading destination for premium fash
Slide 3: Management Comments
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 reve
Slide 4: Note and About Shoppers Stop Limited
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: Q4 FY26 Performance Highlights
Q4 FY26 Performance Highlights
Slide 6: Our Vision
Our Vision We aim to be the most loved premium shopping destination for aspirational Young Indian families Prasaditya Mall, Rajahmundry 2
Slide 7: Contents
Contents 01 MARKET OUTLOOK 02 PERFORMANCE UPDATE – CORE BUSINESS – NEW VENTURES 03 BEAUTY DISTRIBUTION 04 FINANCIALS 3
Slide 8: Market Outlook
Market Outlook – Non-apparel categories drive stronger indulgence in the premium segment – 30% of shoppers say in-store sensory experiences still shape buying decisions CUSTOMER – Early signs of demand recovery in Q4, consumption trends remains resilient – Fast fashion and luxury are fueling a reviv
Slide 9: Contents
Contents 01 MARKET OUTLOOK 02 PERFORMANCE UPDATE – CORE BUSINESS – NEW VENTURES 03 BEAUTY DISTRIBUTION 04 FINANCIALS 5
Slide 10: FY26 at a Glance
FY26 at a Glance SALES ̶ Consolidated Rs 6,057 Crs; +8% YoY ̶ Department format crossed Rs 5,000 Crs; +5% LFL ̶ Global SSBeauty Rs 426 Crs; +81% YoY. Last 3 yrs CAGR @ 90% RETAIL EXPANSION ̶ Opened 8 Department, 14 INTUNE, 3 Beauty and 2 HomeStop stores ̶ Renovated Super premium Juhu Store alongwith
Slide 11: FY26 at a Glance….Contd.
FY26 at a Glance….Contd. Premiumization Upgraded in-store experience and launched premium/aspirational brands across categories Premium Portfolio Personal Shoppers Sales +11% Contribution Sales +24% Contribution LFL +10% (Clocked Sales of Rs 1,200+ Crs in FY26) Operational KPIs First Citizen Club Hi
Slide 12: Power Categories
Power Categories Watches – Sold 70 watches per hour (5.8 Lakh units in FY26) – Revenue +16% YoY Handbags – Sold 60 bags per hour (4.7 Lakh units in FY26) – Revenue +10% YoY Fragrance – Sold 150 units per hour (12.1 Lakh units in FY26) – Revenue +12% YoY – Sold 10 T-Shirts every Minute Apparels – Sol
Slide 13: Q4 Strategic initiatives to drive Core
Q4 Strategic initiatives to drive Core Sustaining and growing “Brand Love” ̵ Brand IP Gifts of Love reinforces our positioning as the ultimate gifting destination ̵ Launched The Travel Edit, a destination-inspired fashion campaign for modern travelers ̵ Curated Premium Assortment with New offerings
Slide 14: Q4 Strategic Initiatives ….Contd.
Q4 Strategic Initiatives….Contd. First Citizen Accelerating enrolments with focused engagement and personalized outreach ̵ Black card enrolments (including renewals) 32K (+42%) ̵ Silver card enrolments 182k (+11%) ̵ 36 Black Card events across 25 cities engaging 1500+ members Private Brand Improved
Slide 15: Q4 Highlights – Core Business
Q4 Highlights – Core Business Operational KPIs Customer entry +3% LFL ATV +8% ASP +11% Premium Portfolio Personal Shoppers Premiumization Sales +13% Contribution Sales +15% Contribution Top Categories Growth Watches+21% Fragrance +15% Handbags +13% Member base Contribution Enrolments First Citizen C
Slide 16: Core Business – Financial Update
Core Business – Financial Update Particulars Q4 YTD Rs. Crs FY26 FY25 Gr% FY26 FY25 Gr% Sales 1,282 1,228 4% 5,409 5,229 3% Opex 412 395 4% 1,671 1,611 4% EBITDA* 50 57 -13% 226 226 Flat – Department format grew 6% (LFL+5%) – Costs under control; Investment in Tech and Loyalty, besides inflation – *
Slide 17: Beauty
Beauty Inspiring Beauty through Expression, Engagement and Education Beauty Business Network Sales Rs 309 Crs grew by 17% Retail Count Led by Fragrance +37% Department stores 113 EBOs (incl. SSBeauty) 73 Shop-in-shop 61 Private Brands GSSBB Distribution network – Sales +14% LFL 27 Retailers with 565
Slide 18: New Ventures - Performance Update
New Ventures - Performance Update Particulars Q4 YTD Rs. Crs FY26 FY25 Gr% FY26 FY25 Gr% Sales 72 56 27% 300 199 51% Opex 43 33 29% 166 105 58% EBITDA -21 -19 -10% -80 -43 -87% INTUNE – Improved Sales trend from Feb onwards, LTL sustained in April – Structured CRM outreach led to progressive improve
Slide 19: New Store Launches And Marketing Highlights
New Store Launches And Marketing Highlights 15
Slide 20: Store network update
Store network update Expansion Q4 YTD Store Count as on Mar’26 Additions 9 27 Department 113 Department 4 8 Beauty Beauty 3 SSBeauty/Boutique 17 HomeStop 1 2 SSFragrance 2 INTUNE 4 14 Beauty EBOs 54 INTUNE 84 Renovations 3 HomeStop 12 Department 3 Airport 13 Capex and Deposits Rs 25 Crs Rs 114 Crs T
Slide 21: City Center Mall (Bareilly)
City Center Mall (Bareilly) 17
Slide 22: Prasaditya Mall (Rajahmundry)
Prasaditya Mall (Rajahmundry) 18
Slide 23: V3S Mall (Gurgaon)
V3S Mall (Gurgaon) 19
Slide 24: Zora Mall (Raipur)
Zora Mall (Raipur) 20
Slide 25: DLF Midtown (New Delhi)
DLF Midtown (New Delhi) 21
Slide 26: INTUNE
INTUNE Malpani Center, Nashik 1. Malpani Center, Nashik 3. Zora Mall, Raipur 2. Kapali Mall, Bangalore 4. Prasaditya Mall, Rajahmundry 22
Slide 27: Marketing Highlights
Marketing Highlights “Gifts Of Love” The Travel Edit Campaign showcase “The Travel Edit” Shoppers Stop at Bombay Times Fashion Week 2026 Travel Edit Campaign Clip Instagram Gifts Of Love Valentine’s week gifting At Bombay Times Fashion Week 2026 A destination inspired Fashion Campaign Reach 165M+; V
Slide 28: Contents
Contents 01 MARKET OUTLOOK 02 PERFORMANCE UPDATE – CORE BUSINESS – NEW VENTURES 03 BEAUTY DISTRIBUTION 04 FINANCIALS 24
Slide 29: Beauty Distribution - Performance Update
Beauty Distribution - Performance Update Strong growth momentum continues Sales Q4 Rs 114 Crs; +69% YoY Sales YTD Rs 426 Crs; +81% YoY 122 Last 3 years CAGR @ 90% 106 114 84 77 67 Network 39 52 – 4 ARMANI, 2 NARS and 1 PRADA Boutique in prestige malls – Distribution network: 565 POS (+20 in Q4) with
Slide 30: Contents
Contents 01 MARKET OUTLOOK 02 PERFORMANCE UPDATE – CORE BUSINESS – NEW VENTURES 03 BEAUTY DISTRIBUTION 04 FINANCIALS 26
Slide 31: Q4 Performance at a Glance
Q4 Performance at a Glance Core New Particulars Total** Global Beauty Consolidated Business Ventures* Rs Crs FY26 FY25 FY26 FY25 FY26 FY25 FY26 FY25 FY26 FY25 Sales 1,282 1,228 72 56 1,353 1,284 114 67 1,448 1,339 Opex 412 395 43 33 455 428 27 19 482 447 EBITDA 50 57 -21 -19 28 38 5 0 33 38 *New Ven
Slide 32: YTD Performance at a Glance
YTD Performance at a Glance Core New Particulars Total Global Beauty Consolidated Business Ventures* Rs Crs FY26 FY25 FY26 FY25 FY26 FY25 FY26 FY25 FY26 FY25 Sales 5,409 5,229 300 199 5,709 5,427 426 236 6,057 5,616 Opex 1,671 1,611 166 105 1,838 1,716 97 64 1,934 1,780 EBITDA 226 226 -80 -43 146 18
Slide 33: Financials Q4 FY26 (Standalone)
Particulars Non GAAP GAAP Rs in Crs FY26 FY25 Gr% FY26 FY25 Gr% Gross Revenue 1353 1284 5% 1239 1144 8% Financials Net Revenue Other Income 1210 26 1136 25 7% 6% 1117 9 1022 17 9% -51% Q4 FY26 (STANDALONE) Total Revenue 1236 1160 7% 1126 1040 8% Margin 457 441 4% 464 453 2% Margin% 37.8% 3
Slide 34: Financials YTD FY26 (Standalone)
Particulars Non GAAP GAAP Rs in Crs FY26 FY25 Gr% FY26 FY25 Gr% Gross Revenue 5709 5427 5% 5264 4981 6% Financials YTD FY26 Net Revenue 5070 4795 6% 4708 4436 6% Other Income 99 90 10% 52 53 -2% Total Revenue 5169 4885 6% 4760 4489 6% (STANDALONE) Margin 1884 1809 4% 1893 1832 3% Margin% 3
Slide 35: Balance Sheet (Non-GAAP)
Balance Sheet (Non-GAAP) (STANDALONE) Particulars (Rs in Crs) Mar’26 Mar’25 Net worth 805 815 Loan Fund^ 154 262 Total Liabilities 959 1077 Fixed Assets + Lease Deposit 871 902 Investments* 110 60 Inventory** 1911 1921 Other Assets 595 583 Total Current Assets 2385 2400 Trade Creditors Goods** 1993
Slide 36: Cash Flow
Cash Flow (STANDALONE) Particulars (Rs in Crs) Mar’26 Mar’25 Cash Profit from Operations (EBITDA) 146 182 Changes in Working Capital 155 -112 Cash generated from Operations 301 70 Fixed Assets -123 -199 Investment in Subsidiary -50 -1 Interest Expense -16 -13 Cash post Investing Activities 111 -143
Slide 37: Financials Q4 FY26 (Consolidated)
Particulars Non GAAP GAAP Rs in Crs FY26 FY25 Gr% FY26 FY25 Gr% Gross Revenue 1448 1339 8% 1350 1196 13% Financials Net Revenue 1290 1182 9% 1210 1064 14% Other Income 26 25 6% 9 18 -53% Q4 FY26 Total Revenue 1316 1207 9% 1218 1082 13% (CONSOLIDATED) Margin 489 460 6% 495 466 6% Margin% 37
Slide 38: Financials YTD FY26 (Consolidated)
Particulars Non GAAP GAAP Rs in Crs FY26 FY25 Gr% FY26 FY25 Gr% Gross Revenue 6057 5616 8% 5665 5210 9% Financials Net Revenue 5365 4954 8% 5043 4628 9% Other Income 99 90 10% 52 54 -4% YTD FY26 Total Revenue 5464 5045 8% 5095 4682 9% (CONSOLIDATED) Margin 2003 1883 6% 2009 1900 6% Margin%
Slide 39: Way Forward
Way Forward CUSTOMER ̶ Strengthening Brand IPs viz. “India Weds with Shoppers Stop” and “Gifts of Love” ̶ Partnered with HYBE for India’s 1st Global Girl Group auditions targeting the Gen-Zs ̶ Relentlessly driving higher enrolments and conversion through data-driven personalized engagement PRODUCT ̶
Slide 40: Annexure
ANNEXURE 36
Slide 41: As on 31st Mar’26
As on 31st Mar’26 295 Stores 4.5 M 73 SQUARE FEET CITIES AREA 13.5 M 800+ FIRST CITIZENS BRANDS 15% Mix (1) 21% Mix PRIVATE BRAND BEAUTY APPARELS 12 M CUSTOMER ENTRY in Q4 2 1 . 5 K (2) TALENT POOL Tapasya One, Gurgaon (1) Excluding INTUNE ( 2 ) Includes Brand staff 37
Slide 42: Premiumization driving growth
Premiumization driving growth; Contribution @ 71%, Sales +13% (LFL +11%) in Q4 New Brand additions highlighted in Orange 38
Slide 43: New Brand additions highlighted in Orange
New Brand additions highlighted in Orange 39
Slide 44: Operational KPIs in Q4
Operational KPIs in Q4 ATV (Rs/-) ASP (Rs/-) +8% +11% 4942 5351 1743 1926 4236 4581 1585 1677 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 Items per Txn. (Nos.) 2.7 2.7 2.8 2.8 0.0 FY23 FY24 FY25 FY26 (Excluding Online and INTUNE) 40
Slide 45: Operational KPIs in FY26
Operational KPIs in FY26 ATV (Rs/-) ASP (Rs/-) +6% +7% +7% +7% +5% +6% +10% +4% 4657 4990 5346 1748 1861 4373 1597 1666 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 Items per Txn. (Nos.) -3% +2% +2% +1% 2.7 2.8 2.9 2.9 0.0 FY23 FY24 FY25 FY26 (Excluding Online and INTUNE) 41
Slide 46: 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