Shoppers Stop Limited has received reclassification requests from two entities presently classified under the Promoter Group category, seeking to move to the Public Shareholder category. The disclosure was made on May 11, 2026, under Regulation 30 read with Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Reclassification Requests Received

The two entities, referred to as 'Outgoing Promoters' in the company's disclosure, submitted their requests vide letters dated May 11, 2026. Both entities currently hold zero shares in the company, as detailed below:

Regulatory and Approval Process

The reclassification requests are subject to consideration and approval by the Board of Directors of Shoppers Stop Limited. The company has stated that the necessary steps will be undertaken in compliance with Regulation 31A of the SEBI Listing Regulations. The disclosure was signed by Rakeshkumar Saini, Vice President – Legal, CS & Chief Compliance Officer (ACS No. 20257), on behalf of the company.

The information has also been made available on the company's corporate website at https://corporate.shoppersstop.com/investors/ .

Shoppers Stop Limited released its audited financial results for the quarter and financial year ended March 31, 2026, following a Board meeting held on May 05, 2026. The company reported a consolidated net loss of Rs 36.09 crore for FY26, a significant reversal from the net profit of Rs 10.89 crore recorded in the previous year. On a standalone basis, the net loss for the year stood at Rs 46.24 crore, compared to a profit of Rs 6.74 crore in the prior year. The statutory auditors, S R B C & CO LLP, issued an unmodified opinion on both standalone and consolidated financial results. However, they drew attention to a non-provision of retrospective service tax levy of Rs 20.11 crore in consolidated results (Rs 16.60 crore on standalone basis) for the period June 01, 2007 to March 31, 2010, pending final disposal before the Supreme Court.

Financial Performance Overview

The company's total consolidated income for FY26 rose to Rs 5,095.46 crore from Rs 4,681.76 crore in the prior year, driven by consolidated revenue from operations of Rs 5,043.32 crore versus Rs 4,627.64 crore previously. However, total consolidated expenses also increased to Rs 5,129.43 crore from Rs 4,674.75 crore, resulting in the reported loss. On a standalone basis, total income for the year was Rs 4,759.61 crore against Rs 4,488.56 crore in the prior year, while total standalone expenses rose to Rs 4,807.57 crore from Rs 4,486.98 crore. For the quarter ended March 31, 2026, the consolidated net loss was Rs 16.35 crore compared to a net profit of Rs 1.99 crore in the same quarter of the previous year, while standalone net loss for the quarter was Rs 18.28 crore versus a profit of Rs 2.47 crore previously.

The following table summarises the key financial figures:

Exceptional Items

The financial results include exceptional items that impacted the reported figures for the year. These comprised a provision for impairment of property, plant and equipment of Rs 1.30 crore, and a one-time increase in provision for employee benefit expenses of Rs 17.49 crore (standalone) and Rs 17.69 crore (consolidated) on account of the new labour code. The total exceptional items for the full year amounted to Rs 18.79 crore on a standalone basis and Rs 18.99 crore on a consolidated basis.

Balance Sheet Highlights

As at March 31, 2026, consolidated total assets stood at Rs 6,290.66 crore compared to Rs 6,094.62 crore in the prior year. Total consolidated equity declined to Rs 291.01 crore from Rs 321.20 crore, reflecting the net loss for the year. Standalone total assets were Rs 6,059.58 crore against Rs 5,955.32 crore previously, with standalone total equity at Rs 299.24 crore versus Rs 339.56 crore. Key balance sheet items are presented below:

Cash Flow Summary

For the year ended March 31, 2026, net cash from operating activities on a consolidated basis was Rs 837.68 crore, up from Rs 548.52 crore in the prior year. Net cash used in investing activities was Rs 128.98 crore (consolidated), while net cash used in financing activities was Rs 674.79 crore. On a standalone basis, net cash from operating activities was Rs 873.19 crore versus Rs 565.72 crore previously.

Strategic Investment in Beauty Subsidiary

The Board sanctioned an additional investment of up to Rs 40 crore in Global SS Beauty Brands Limited (GSSBBL), a material wholly-owned subsidiary, through subscription to a Rights Issue of 4,000 preference shares — specifically 0.01% Non-Cumulative Optionally Convertible Preference Shares (NOCPS) at a face value of Rs 1,00,000 each, in one or more tranches. As of March 31, 2026, Shoppers Stop held an existing investment of Rs 110 crore in GSSBBL, comprising 5,00,000 equity shares of Rs 100 each (Rs 5 crore) and 10,500 preference shares of Rs 1,00,000 each (Rs 105 crore). Post-acquisition, the number of preference shares held will increase to 14,500, with shareholding and control remaining at 100%. GSSBBL is engaged in the wholesale and retail distribution of beauty products and operates specialty boutique beauty stores. The transaction is classified as a related party transaction, with the allotment expected to be completed within financial year 2026-27.

Board Decisions and Appointments

During the meeting, the Board approved the re-appointment of Mr. Arun Sirdeshmukh as an Independent Director for a second term of five years, effective from October 20, 2026 to October 19, 2031, subject to shareholder approval at the ensuing Annual General Meeting. Mr. Sirdeshmukh is a seasoned fashion and retail leader with over 25 years of experience, holding an IIM Calcutta degree, and is not related to any of the Directors of the Company. Additionally, M/s. PricewaterhouseCoopers LLP was re-appointed as Internal Auditors for a one-year term commencing July 01, 2026 to June 30, 2027, based on the recommendation of the Audit Committee. The Board also authorised Mr. Kavindra Mishra (Managing Director & CEO), Mr. Pankaj Chaturvedi (CFO), and Mr. Rakeshkumar Saini (Company Secretary & Chief Compliance Officer) as Key Managerial Personnel to determine materiality of events for disclosure to stock exchanges under Regulation 30 of SEBI LODR Regulations, 2015.