Shoppers Stop Ltd Share Price – NSE /  BSE

Retail, Small Cap

The key equity benchmarks traded with moderate losses in early afternoon trade. The Nifty traded below the 25,150 mark. The sharp rise in India VIX indicates growing volatility expectations as investors stay on the sidelines ahead of key Q3 earnings outcomes and cues from the World Economic Forum.

PSU bank shares witnessed selling pressure for third consecutive trading session.

At 12:25 IST, the barometer index, the S&P BSE Sensex declined 276.82 points or 0.36% to 81,854.74. The Nifty 50 index fell 97.85 points or 0.39% to 25,134.65.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 0.95% and the S&P BSE Small-Cap index fell 0.75%.

The market breadth was weak. On the BSE, 1,184 shares rose and 2,892 shares fell. A total of 152 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 6.71% to 13.59. The Nifty 27 January 2026 futures were trading at 25,162.30, at a premium of 27.65 points as compared with the spot at 25,134.65.

The Nifty option chain for the 27 January 2026 expiry showed a maximum call OI of 151.4 lakh contracts at the 26,000 strike price. Maximum put OI of 125.3 lakh contracts was seen at 25,000 strike price.

Buzzing Index:

The Nifty PSU Bank index declined 1% to 8,779. The index fell 2.61% in the previous three consecutive trading sessions.

Canara Bank (down 1.57%), Union Bank of India (down 1.45%), Indian Overseas Bank (down 1.27%), Punjab National Bank (down 1.11%), State Bank of India (down 0.82%), Bank of Baroda (down 0.79%), Bank of India (down 0.79%), Indian Bank (down 0.51%), Punjab & Sind Bank (down 0.4%) and Central Bank of India (down 0.24%) declined.

Stocks in Spotlight:

Shoppers Stop tanked 6.29% after the company?s standalone profit slipped 74.14% to Rs 12.61 crore in Q3 FY26, compared with Rs 48.78 crore in Q3 FY25. Revenue from operations marginally rose 0.71% year on year (YoY) to Rs 1,320.85 crore in Q3 FY26.

Vikram Solar tumbled 6.86% after the company reported a 25.2% decline in consolidated net profit to Rs 96.1 crore on a 0.36% fall in revenue from operations to Rs 1,105.95 crore in Q3 FY26 over Q2 FY26.

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Revenue from operations marginally rose 0.71% year on year (YoY) to Rs 1,320.85 crore in Q3 FY26.

The company posted a GAAP EBITDA of Rs 234 crore in Q3 FY26, down from Rs 262 crore in Q3 FY25. Non-GAAP EBITDA for the December 2025 quarter stood at Rs 70 crore, reflecting a 36% YoY decline. The GAAP gross margin came in at 39.4% in Q3 FY26, slightly lower than the 40.7% recorded in Q3 FY25.

The average transaction value (ATV) and average selling price (ASP) both rose 7% year-on-year in Q3 FY26.

During the quarter, premium brands contributed 69% of total sales, up 6% year-on-year, with like-for-like (LFL) growth also at 6%.

In Q3 FY26, core business sales stood at Rs 1,516 crore, remaining flat year-on-year. Beauty segment sales rose 14% to Rs 395 crore, while INTUNE sales grew 22% to Rs 77 crore.

Shoppers Stop?s First Citizen loyalty program remained a key driver of sales, contributing 84% of total revenue during the quarter. The member base expanded to 13.3 million, supported by strong enrollments across tiers and a record addition of Premium Black Card members. The Black Card segment?s contribution rose to 21% of total sales, reflecting higher engagement from premium customers.

The Beauty category sustained strong performance, led by growth in fragrances and continued expansion of global luxury brands. During the quarter, the company launched eight Est?e Lauder Brands SIS stores and strengthened customer engagement through initiatives such as makeovers, masterclasses, and curated beauty events. The Beauty Distribution business scaled further, delivering 58% year-on-year growth.

The Private Brands portfolio delivered steady performance, aided by focused product launches. FRATINI Girls, a new apparel line for young girls, received a positive initial response across eight stores, with plans to expand to 60 stores.

The INTUNE value fashion format grew year-on-year, though performance was impacted by subdued discretionary demand. The company continues to strengthen the format through targeted investments in existing stores while maintaining disciplined capital allocation.

During Q3 FY26, Shoppers Stop expanded its retail network with the opening of three department stores, three INTUNE stores, and one HomeStop store. Capital expenditure for the quarter stood at Rs 35 crore, taking year-to-date capex to Rs 89 crore. Working capital was reduced during the quarter, while net debt remained stable at Rs 90 crore.

Kavindra Mishra, Managing Director & CEO, Shoppers Stop Ltd, said, ?Q3 was marked by external factors such as festive calendar shifts and uneven consumption trends, which weighed on overall sales. However, we continued to make steady progress on our strategic priorities. Premium brands grew on a like-for-like basis and now account for 69% of our total sales, reinforcing the direction of our portfolio shift. <[> The re-launch of our Juhu store as one of India?s most premium experiential retail destinations reflects our long-term commitment to differentiated customer experiences. Categories such as Beauty, Handbags and Watches continue to scale well, and our Beauty Distribution business has delivered strong year-on-year growth.

While discretionary demand remained subdued for INTUNE, we are taking a calibrated approach to strengthening the format through focused investments and measured expansion. As macro conditions improve, we believe our investments in premium offerings, personalization and omnichannel capabilities position us well for sustainable growth.?

Shoppers Stop is the nation's leading premier retailer of fashion and beauty brands.

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Net profit of Shoppers Stop declined 69.14% to Rs 16.12 crore in the quarter ended December 2025 as against Rs 52.23 crore during the previous quarter ended December 2024. Sales rose 2.64% to Rs 1415.82 crore in the quarter ended December 2025 as against Rs 1379.47 crore during the previous quarter ended December 2024.

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Shoppers Stop will hold a meeting of the Board of Directors of the Company on 20 January 2026.

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