Shoppers Stop Limited reported a sharp 91% year-on-year (YoY) drop in consolidated net profit for the quarter ended March 31, 2025 (Q4 FY25), coming in at Rs 2 crore compared to Rs 21 crore in the same period last year.
Despite the steep decline in profits, the company’s revenue from operations rose 2% YoY to Rs 1,022 crore in Q4 FY25, compared to Rs 1,000 crore in Q4 FY24.
(Note: GAAP revenue was marginally impacted by a reclassification adjustment of Rs 41 crore; without this, sales growth would have been approximately 6%.)
Key consolidated financial highlights (Q4 FY25):
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Revenue from operations: Rs 1,022 crore vs Rs 1,000 crore (YoY)
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Total income: Rs 1,040 crore vs Rs 1,034 crore (YoY)
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EBITDA: Rs 187 crore vs Rs 199 crore (YoY)
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EBITDA margin: 18.3% vs 19.9% (YoY)
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Profit before tax (PBT): Rs (5) crore vs Rs 28 crore (YoY)
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Net profit (PAT): Rs 2 crore vs Rs 21 crore (YoY)
Full-year FY25 performance:
For the financial year ended March 31, 2025, Shoppers Stop reported:
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Revenue from operations: Rs 4,436 crore, up 5% from Rs 4,213 crore in FY24
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Net profit: Rs 6 crore, sharply down from Rs 73 crore in FY24
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EBITDA: Rs 751 crore vs Rs 767 crore in FY24
The company saw an improvement in its gross margin to 41.3% for the full year (up 60 basis points YoY), driven by premiumization and a strong private label performance.
Management commentary:
Commenting on the results, Kavindra Mishra, Managing Director and CEO of Shoppers Stop, said:
“Despite a challenging macro environment, we achieved consistent operational improvements and recorded 4% revenue growth on a like-for-like basis. Premiumization continues to be a key growth lever, with premium brands contributing 65% to total sales. Our loyalty program ‘First Citizen’ also remained strong, driving 82% of our sales.”
He added that the company remains cautiously optimistic about FY26, focusing on experiential retail, expanding beauty and value fashion offerings through its INTUNE brand, and enhancing digital personalization.
Strategic highlights:
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Premiumization: Premium brands accounted for 65% of total sales (+7% YoY).
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INTUNE: Value fashion brand INTUNE clocked Rs 54 crore sales in Q4, and Rs 192 crore for the full year, adding 52 new stores across 30 cities.
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Beauty segment: Beauty category sales stood at Rs 209 crore (excluding distribution) in Q4, with Global SS Beauty reporting Rs 67 crore in the quarter (+61% YoY).
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Expansion: The company added 21 stores during the quarter, including 5 department stores, 15 INTUNE stores, and 1 beauty store.
Outlook:
Shoppers Stop stated that although short-term demand trends remain volatile, long-term growth prospects remain positive due to rising affluence, premiumization trends, and strategic investments in new-age technologies like AI and automation.
