Shoppers Stop has announced its business guidance projecting mid-teen revenue growth for FY27, as disclosed during a recent conference call with stakeholders. The guidance reflects the company's strategic outlook for its overall business performance over the medium term.

Business Growth Projections

The management's guidance indicates confidence in the company's ability to achieve sustained growth across its retail operations. The mid-teen revenue growth target for FY27 suggests the company expects to maintain momentum in its business expansion and operational efficiency initiatives.

Conference Call Highlights

During the conference call, the company provided this forward-looking guidance to stakeholders, offering insights into expected business trajectory. The guidance covers the overall business performance expectations, indicating a comprehensive growth strategy across various business segments.

Strategic Outlook

The projected mid-teen revenue growth for FY27 demonstrates the company's strategic planning and business development initiatives. This guidance provides stakeholders with visibility into the company's medium-term performance expectations and growth trajectory planning.

Shoppers Stop Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2025, revealing a mixed performance with revenue growth offset by declining profitability. The Board of Directors approved the results at their meeting held on January 20, 2026.

Financial Performance Overview

The company's standalone performance showed contrasting trends between revenue and profitability metrics during the quarter under review.

Nine-Month Performance Analysis

The nine-month period ending December 31, 2025, presented more challenging results for the retail chain.

Impact of Exceptional Items

The company's results were significantly affected by exceptional items totaling ₹17.49 crores during the quarter. These charges stemmed from the implementation of New Labour Codes by the Government of India, effective November 21, 2025. The consolidation of multiple existing labour legislations into four unified Labour Codes resulted in a one-time increase in employee benefit provisions, which was recognized as an exceptional item under Indian Accounting Standards.

Consolidated Results

On a consolidated basis, which includes subsidiaries Gateway Multichannel Retail (India) Limited, Shoppers Stop Brands (India) Limited, Global SS Beauty Brands Limited, and Shoppers Stop.Com (India) Limited, the performance metrics were:

Operational Highlights

During the quarter, the company granted 78,777 Employee Stock Options under the ESOP Scheme 2022, compared to 21,345 options in the corresponding quarter of the previous year. Additionally, 39,388 Restricted Stock Units were granted to eligible employees, significantly higher than 10,673 units granted in Q3FY25.

Earnings Per Share and Other Metrics

The company's earnings per share on a standalone basis declined to ₹1.14 for Q3FY26 from ₹4.43 in Q3FY25. For the nine-month period, the company reported a loss per share of ₹2.54 compared to earnings per share of ₹0.39 in the previous year. The paid-up equity share capital remained relatively stable at ₹55.04 crores with a face value of ₹5 per share.

Regulatory and Legal Matters

The company continues to contest a retrospective service tax levy of ₹16.60 crores (₹20.11 crores on consolidated basis) for the period June 1, 2007, to March 31, 2010, related to renting of immovable properties for commercial use. The matter remains pending before the Supreme Court of India, and the company has not made provisions for this amount, which was paid under protest.