Shoppers Stop Limited (SHOPERSTOP) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Shoppers Stop Limited ₹510, price ₹405, upside +26.1%, quality 43 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 1, 2026.
How to read this chart
60‑month range ₹225.75 – ₹914.05 · fair‑value band ₹307.83 – ₹510.38 · the ₹404.70 price screens below the ₹510.38 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 3 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Oct 1, 2026.
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Shoppers Stop Limited engages in the retailing of household and consumer products through departmental stores under the Shoppers Stop brand in India.
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Shoppers Stop Limited engages in the retailing of household and consumer products through departmental stores under the Shoppers Stop brand in India. The company offers women's Indian wear for weddings, festivals, and occasions under the Kashish brand; festive and ceremonial ethnic wear for men under the Bandeya brand; Smart casual products under the Fratini brands; family fashion products under the Stop brand; and Western-inspired denim and casual wear under the Life brand. It also provides girls' wear products under the Fratini girl brand; clothing for young children under the karrot brand; innerwear and loungewear for women under the insense women brand; beauty products under the ARCELIA brand; fashion products under the Haute curry brand; color-first beauty products under the Joyology Beauty brand; and watches, leather handbags, high-fashion footwear, sunglasses, jewelry, and luggage. In addition, the company offers home décor, premium furnishing, and lifestyle products through HomeStop concept stores. Further, it is involved in the distribution of beauty brands; and retailing of various consumer products through an online channel. Shoppers Stop Limited was founded in 1991 and is based in Mumbai, India.
Stock analysis
Shoppers Stop Limited (SHOPERSTOP) currently trades at ₹404.70, while our model-based Fair Value estimate is ₹510.38, implying the stock looks roughly 20.7% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of ₹842.99 per share, and 9 of the 14 models we run sit above the ₹404.70 price.
Bear case: the Earnings-Based group reads lowest at ₹147.78, and 5 of the 14 models stay below the price. Evidence for this calculation is low.
Scenario range: ₹307.83 (bear) to ₹510.38 (bull), the price of ₹404.70 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 43/100 (below-average quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Shoppers Stop Limited reported revenue of ₹50.4B in FY2026 versus ₹25.2B in FY2022, a compound +19.0%/yr. Reported net income was −₹361M in FY2026.
Key figures
Market cap ₹44.5B (≈ $462M) · P/S ratio 0.88 · EPS (TTM) ₹−3.35 · Net margin −0.7% · Return on equity −11.8% · Return on assets (EBIT) 3.3% · Operating margin 3.8% · Revenue (TTM) ₹51.7B.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 24% below its 52-week high and 41% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −6% fair-value upside, at 26%, SHOPERSTOP screens cheaper than that median.
Fair Value models
Bear ₹307.83Fair Value ₹510.38Bull ₹510.38
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.67/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+9.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.8%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+23.6%
Start year 2021 (pandemic). Over 10 years: +1.0% a year
Revenue growth 21 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+12.2%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−19.9% (2021) → 4.0% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−2.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+10.5%
Yearly sales growth analysts expect, extended to five years.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about −6.3% a year for the price and +6.1% for the forecasts.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Department Stores · 105 stocks
Beats the industry median on 4/8 measures
A mixed picture versus its industry peers.
Valuation
Quality Score43 · Bottom 25%
Fair Value upside+26.1% · Above median
Profitability
Return on assets2.3% · Above median
Net margin (TTM)−0.7% · Bottom 25%
Operating margin (TTM)3.8% · Below median
Growth and dividend
Revenue growth11.2% · Top 25%
Balance sheet
Debt / equity0.16× · Above median
Valuation Multiplesvs Department Stores median · lower = cheaper
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Is Shoppers Stop Limited (SHOPERSTOP) overvalued or undervalued?
As of Oct 1, 2026, our model estimates a fair value of ₹510.38 versus a price of ₹404.70, about +26% upside (undervalued).
What is the fair value of SHOPERSTOP?
Our model-based fair value for Shoppers Stop Limited is ₹510.38 (as of Oct 1, 2026), built from audited fundamentals. The current price: ₹404.70.
What is the quality score of SHOPERSTOP?
Shoppers Stop Limited has a Quality Score of 43/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Shoppers Stop Limited (SHOPERSTOP)?
Our model-based price target is the fair value of ₹510.38 (as of Oct 1, 2026) from 14 valuation models. Cautious scenario ₹307.83, optimistic scenario ₹510.38. It is a calculation from audited fundamentals, not an analyst target.
What is the Shoppers Stop Limited stock forecast for 2026?
Our models put fair value at ₹510.38, about +26% upside versus a price of ₹404.70 (undervalued). Cautious scenario ₹307.83, optimistic scenario ₹510.38. The calculation is refreshed regularly with new filings.
What is the revenue of Shoppers Stop Limited (SHOPERSTOP)?
Shoppers Stop Limited reported trailing-twelve-month revenue of about ₹51.7B (latest available figure, as of Oct 1, 2026).
What growth is priced into Shoppers Stop Limited (SHOPERSTOP)?
For today's price to be fair in a discounted-cash-flow model, Shoppers Stop Limited would have to grow free cash flow by -2.4 % per year for five years (discount rate 13.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +23.6 % per year. As of Oct 1, 2026.
What discount rate (WACC) does the fair value of SHOPERSTOP use?
Our models discount Shoppers Stop Limited at 13.9 %: a base by market capitalisation (small), country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Shoppers Stop Limited that is -2.4 % per year a year over ten years, using the same discount rate (13.9 %) and the same formula as our fair value.
How much growth has Shoppers Stop Limited (SHOPERSTOP) delivered so far?
Over the past 5 years revenue at Shoppers Stop Limited grew +23.6 % a year. The price currently implies -2.4 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Shoppers Stop Limited (SHOPERSTOP) growing?
The median revenue growth in the sector is +3.2 % a year. That is the yardstick for the growth priced into Shoppers Stop Limited (-2.4 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Shoppers Stop Limited (SHOPERSTOP)?
The free-cash-flow yield on the price is 15.23 %: that much free cash flow Shoppers Stop Limited produces per unit of market value. When it exceeds the discount rate of our models (13.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Shoppers Stop Limited (SHOPERSTOP)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Shoppers Stop Limited it is ₹510.38 per share (as of Oct 1, 2026), against a price of ₹404.70. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Shoppers Stop Limited stock overvalued or undervalued in 2026?
As of Oct 1, 2026, SHOPERSTOP trades below its calculated fair value: price ₹404.70, fair value ₹510.38, a gap of about +26% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of SHOPERSTOP?
No. The price is what the market pays today (₹404.70); the fair value is what the company's own numbers justify (₹510.38). For Shoppers Stop Limited the two are ₹105.68 per share apart. That gap is exactly why we show both numbers side by side.
How much is Shoppers Stop Limited worth?
The market values Shoppers Stop Limited at about ₹44.5B (market capitalisation, as of Oct 1, 2026). Per share that is ₹404.70; our models calculate a fair value of ₹510.38 per share.
What do the bullish and bearish scenarios say about SHOPERSTOP?
Our models span a range for Shoppers Stop Limited: cautious scenario ₹307.83, base ₹510.38, optimistic ₹510.38 per share (as of Oct 1, 2026, price ₹404.70). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Shoppers Stop Limited (SHOPERSTOP)?
Balance-sheet figures for Shoppers Stop Limited (as of Oct 1, 2026): return on equity −11.8%, debt of 0.16 per unit of equity. They feed the Quality Score of 43/100, which measures business quality independently of the share price.
How far is SHOPERSTOP from its 52-week high?
Shoppers Stop Limited trades at ₹404.70, about 24% below its 52-week high of ₹532.45 and 41% above the low of ₹287.15 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹510.38 is for.
Which stocks are comparable to Shoppers Stop Limited?
From the same area (Consumer Cyclical) we also value Falabella S.A, Dillard's, Inc, 99 Speed Mart Retail Holdings, Macy's, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Shoppers Stop Limited stock attractive at the current price?
The data as of Oct 1, 2026: price ₹404.70, calculated fair value ₹510.38 (+26%), Quality Score 43/100, from 14 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of SHOPERSTOP calculated?
We run Shoppers Stop Limited through 14 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹510.38, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Shoppers Stop Limited currently trades 21 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Shoppers Stop Limited (SHOPERSTOP)?
The closing price on Oct 1, 2026 was ₹404.70. Our model-based fair value is ₹510.38, about +26% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Shoppers Stop Limited right now?
Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Where does the earnings growth of Shoppers Stop Limited (SHOPERSTOP) come from?
Earnings per share at Shoppers Stop Limited grew +5.3 % a year from 2015 to 2026. Broken into its drivers: revenue per share −2.3 %, EBIT margin +6.5 %, tax rate +7.5 %, residual (interest, one-offs) −5.9 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Shoppers Stop Limited
How large is the market capitalisation of Shoppers Stop Limited (SHOPERSTOP)?
The market capitalisation of Shoppers Stop Limited is ₹44.5B (≈ $462M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Shoppers Stop Limited (SHOPERSTOP)?
The price-to-sales ratio of Shoppers Stop Limited is 0.88 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Shoppers Stop Limited (SHOPERSTOP)?
Earnings per share at Shoppers Stop Limited are ₹−3.35. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Shoppers Stop Limited (SHOPERSTOP)?
The net margin of Shoppers Stop Limited is −0.7% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Shoppers Stop Limited (SHOPERSTOP)?
The return on equity (ROE) of Shoppers Stop Limited is −11.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Shoppers Stop Limited (SHOPERSTOP)?
On an EBIT basis the return on assets of Shoppers Stop Limited is 3.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Shoppers Stop Limited (SHOPERSTOP)?
The operating margin of Shoppers Stop Limited is 3.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Shoppers Stop Limited (SHOPERSTOP)?
Revenue at Shoppers Stop Limited is growing +11.2% versus a year earlier (3y avg +7.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Shoppers Stop Limited (SHOPERSTOP)?
Earnings per share at Shoppers Stop Limited are growing −69.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Shoppers Stop Limited (SHOPERSTOP) carry?
The net debt of Shoppers Stop Limited is ₹33.0B (fiscal year 2026, ≈ 4.9 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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