| Annual Financials | Mar 2026 |
| Revenue | 2351.03 |
| Expenses | 2271.40 |
| Other Income | 1.82 |
| Total Revenue | 2352.85 |
| Profit Before Tax | 81.45 |
| Net Profit | 59.28 |
SS Retail
SS Retail IPO
₹14,105
1.42 xOver-subscribedBidding Dates 16 Sept, 26 -18 Sept, 26
Min Investment ₹14,105
Lot Size35
Price Range ₹403 – ₹424
Issue Size ₹500.00 Cr.
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IPO Subscription Details
Retail Subscription Details
2.17 x
Non-Institutional Buyers (sHNI)
2.41 x
Non-Institutional Buyers (bHNI)
1.03 x
Qualified Institutional Buyers (QIB)
0.2 x
Employees
0.32 x
Total1.42 x
1.42 x IPO Timeline
IPO Offer Start
16 Sept,26
IPO Offer Ends
18 Sept,26
Allotment Finalisation
21 Sept,26
Refund Initiation
22 Sept,26
Listing of Shares
23 Sept,26
IPO Analysis
Strengths
The company operates 503 stores as of March 31, 2026, positioning it as the largest mobile phone retail chain in West India and Maharashtra and the 3rd largest in India among peers, with a CAGR of 45.99% store growth from March 2024 to March 2026.
The company operates 62.82% COFO Model and 20.48% FOFO Model stores as of March 31, 2026, using local franchisee partners which accelerates customer acquisition while reducing customer acquisition costs and helps capitalize on local market understanding.
The company focuses on tier II and tier III cities with 17.89% and 51.69% of stores respectively as of March 31, 2026, achieving revenue growth CAGR of 37.21% and 35.48% respectively between Fiscal 2024 to Fiscal 2026.
Risks
The company derives 86.18%, 87.58% and 88.31% of revenue from operations from retailing mobile phones during Fiscals 2026, 2025 and 2024, respectively. Any economic slowdown or factors affecting the mobile phone industry could adversely impact the company's business, financial condition, and operating results.
The company is significantly reliant on arrangements with top 10 suppliers for procuring mobile phones, accessories and other electronic items, representing 79.09%, 89.42% and 88.38% of purchase of traded goods during Fiscal 2026, 2025 and 2024, respectively. The company typically does not enter into long-term agreements with suppliers and purchases are based on purchase orders, creating supply chain vulnerability.
The company derives 89.09%, 92.32% and 94.07% of revenue from operations from Maharashtra during Fiscal 2026, 2025 and 2024, respectively, with 458 stores (91.05% of total stores) located in Maharashtra as of March 31, 2026. This concentration exposes the company to risks arising from changes in political, social and economic conditions specific to Maharashtra.
Objectives
The company intends to utilize funds for capital expenditure towards furniture and fixtures, office equipment, and computers and IT systems for opening new stores across Maharashtra, Karnataka, Madhya Pradesh, and Chhattisgarh to strengthen retail network and increase market penetration.
The company proposes to utilize funds for incremental working capital requirements primarily towards purchasing inventory including mobile phones, accessories, and other electronic items to support business expansion and existing store operations.
The company intends to utilize funds for general corporate purposes including ongoing business exigencies, strategic initiatives, business development, employee welfare activities, administration, insurance, repairs and maintenance, and other approved corporate purposes.
Yearly Financial Results
Balance Sheet
| Balance Sheet | Mar 2026 |
| Total Assets | 575.42 |
| Current Assets | 401.61 |
| Fixed Assets | 173.81 |
| Total Equity & Liabilities | 575.42 |
| Total Liabilities | 344.08 |
| Current Liabilities | 233.75 |
| Non Current Liabilities | 110.34 |
| Total Equity | 231.34 |
Cash Flow
| Cash Flow | Mar 2026 |
| Net Cash Flow | 3.62 |
| Investing Activities | -30.71 |
| Operating Activities | 32.52 |
| Financing Activities | 1.81 |
About SS Retail
The company is a multi-brand retail chain for mobile phones, accessories and other electronic items, operating 503 stores across 5 states in India as of March 31, 2026. The company is positioned as the largest mobile phone retail chain in West India and Maharashtra, and the 3rd largest in India...more
Website
Managing DirectorSiddharth Gunvant Shah
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