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Shoppers Stop Limited (SHOPERSTOP) Fair Value & Analysis

Consumer Cyclical · IN · Market cap ₹39.3B

SS Shoppers Stop Limited SHOPERSTOP · NSE
Price₹421.30
Fair Value₹510.75
Upside+21.2%
Quality44/100

Strengths

Trades 18% below our fair value of ₹510.75
Low debt · generates free cash flow

Risks

!Mixed Growth (revenue 5y +23.6 %/yr)
!Loss-making · -0.7% net margin
!Mixed vs. peers (5/10)
!Narrow moat 16/100
Mixed Growth (revenue 5y +23.6 %/yr)
Loss-making · -0.7% net margin
Low debt · generates free cash flow
Mixed vs. peers (5/10)
Narrow moat 16/100
Evidence: Medium Range ₹308.06 – ₹510.75 Share as image

Fair value as of: Aug 13, 2026

From 14 valuation models · updated 10 days ago

Share price +12.1% over the past month.

Below-average quality, screening 21% undervalued on our models.

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69 individual criteria per stock, every one traceable See the method →

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What matters now

  • Our model range runs from ₹308.06 (bear) to ₹510.75 (bull), base ₹510.75. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 44/100 (below-average quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

₹914.05 ₹196.50 Fair Value ₹510.75 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹196.50 – ₹914.05 · fair‑value band ₹308.06 – ₹510.75 · the ₹421.30 price screens below the ₹510.75 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Shoppers Stop Limited (SHOPERSTOP) currently trades at ₹421.30, while our model-based Fair Value estimate is ₹510.75, implying the stock looks roughly 21.2% undervalued today. The Quality Score stands at 44/100 (below-average quality), in the Consumer Cyclical sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Shoppers Stop Limited generated revenue of ₹50.4B at a net margin of -0.7%. Revenue grew 13.7% year over year. It earns a return on equity of -11.8%. Net debt stands at ₹33.0B. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹308.06 (bear case) to ₹510.75 (bull case); at ₹421.30, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 28% below its 52-week high and 53% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 3% fair-value upside, at 21%, SHOPERSTOP screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

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. Evidence
Highest evidence
Growth DCF ₹734.37 ₹1,194 ₹1,925 80
Rev-Margin DCF ₹351.53 ₹496.47 ₹674.10 74
ROIC Compounder ₹164.58 ₹204.23 ₹247.46 72
All 14 models by family
DCF Models
FCF DCF ₹728.07 ₹1,198 ₹1,949 38
Owner Earnings ₹391.32 ₹644.75 ₹1,050 31
5Y Revenue Exit ₹351.53 ₹487.48 ₹651.71 39
5Y EBITDA Exit ₹606.74 ₹981.88 ₹1,426 41
10Y Revenue Exit ₹472.53 ₹634.23 ₹840.83 36
10Y EBITDA Exit ₹642.84 ₹984.11 ₹1,452 37
Earnings-Based
EPV ₹155.09 ₹181.47 ₹204.55 59
Multiples
EV/EBIT ₹246.09 ₹329.19 ₹412.28 53
EV/EBITDA ₹604.89 ₹807.58 ₹1,010 54
EV/Revenue ₹164.85 ₹236.86 ₹308.88 43
Asset-Based
NCAV (Graham) ₹13.21 ₹17.71 ₹26.43 50
Growth DCF
Growth DCF ₹734.37 ₹1,194 ₹1,925 80
Rev-Margin DCF ₹351.53 ₹496.47 ₹674.10 74
Economic Profit
ROIC Compounder ₹164.58 ₹204.23 ₹247.46 72

Widest divergence: DCF Models (₹644.75) versus Asset-Based (₹17.71). Highest evidence: Growth DCF (80).

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Key figures & financial health

P/S ratio 0.78 TTM
Net margin -0.7% TTM
Return on equity -11.8% TTM
Return on assets 2.3% TTM
Operating margin 5.4% TTM
EPS (TTM) ₹-3.28
More key figures
Growth
Revenue (TTM) ₹50.4B TTM
Revenue growth (YoY) +13.7% 3y avg +7.8%
EPS growth (YoY) -69.1%
Balance sheet & cash flow
Free cash flow ₹6.8B FY2026
Net debt ₹33.0B FY2026 · ≈ 4.9 yrs of FCF

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 44/100

Of which business quality 45 · Market factors (momentum, volatility) 52

Profitability 23
Margins and returns on capital today
Quality Growth 41
Are margins and returns improving?
Cashflow 67
Earnings quality: real cash, not paper profit
Fin. Strength 13
Balance sheet, leverage, solvency risk
Investment 60
Disciplined investing over empire-building
Low Volatility 75
Calm price path (market factor)
Momentum 51
Price trend over the last 3–12 months (market factor)
52W Momentum 27
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Shoppers Stop Limited engages in the retailing of household and consumer products through departmental stores under the Shoppers Stop brand in India.

Full company description

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.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

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.

Growth Quality 67/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
₹50.4B
Latest YoY
+9.0%
Avg. growth/yr (3Y) 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.
+7.8%
Avg. growth/yr (5Y) 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.
+23.6%
Avg. growth/yr (21Y) 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.
+12.2%
Value creation/yr 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
Revenue +19.0%/yr
FY22 ₹25.2B
FY23 ₹40.2B
FY24 ₹43.2B
FY25 ₹46.3B
FY26 ₹50.4B
Net income
FY22 −₹470M
FY23 ₹1.2B
FY24 ₹773M
FY25 ₹109M
FY26 −₹361M
Character of growth · EPS growth decomposed (2015-2026) +5.3 % p.a.
Revenue per share −2.3 pp

of which total revenue +0.1 pp · buybacks/dilution −2.4 pp

EBIT margin +6.5 pp
Tax rate +7.5 pp
Residual (interest, one-offs) −6.4 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Shoppers Stop Limited Fair Value". https://www.fairvalue-calculator.com/stock/SHOPERSTOP

Peer Group

Department Stores · 126 stocks

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.

Quality Score 44 · Bottom 25%
Fair Value upside +21% · Above median
Return on assets 2% · Above median
Net margin (TTM) -1% · Below median
Operating margin (TTM) 5% · Below median
Revenue growth 14% · Top 25%
Debt / equity 0.16× · Higher than median

Valuation Multiples vs Department Stores median · lower = cheaper

P/B 0.14× · Cheaper than 75% of peers
P/FCF 0.1× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE62 · sector 24
FUTURE69 · sector 1
PAST0 · sector 14
HEALTH92 · sector 96
DIVIDEND0 · sector 37

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Department Stores stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Falabella S.A FALABELLA 6,380 CLP 8,005 CLP +25%
Dillard's, Inc DDS $636.02 $718.64 +13%
99 Speed Mart Retail Holdings 5326 3.65 MYR 1.59 MYR -56%
Cencosud S.A CENCOSUD 1,949 CLP 2,425 CLP +24%
Macy's, Inc M $23.79 $42.68 +79%
Vishal Mega Mart Limited VMM ₹107.00 ₹30.46 -72%
Central Retail Corporation CRC 27.50 THB 20.89 THB -24%
SHINSEGAE Inc 004170 399,000 KRW 177,841 KRW -55%
Lotte Shopping Co 023530 96,700 KRW 76,636 KRW -21%
PT Daya Intiguna Yasa Tbk MDIY 940.00 IDR 968.76 IDR +3%

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Frequently asked questions

Is Shoppers Stop Limited (SHOPERSTOP) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹510.75 versus a price of ₹421.30, about +21% (undervalued).
What is the fair value of SHOPERSTOP?
Our model-based fair value for Shoppers Stop Limited is ₹510.75 (as of Aug 13, 2026), built from audited fundamentals. The current price: ₹421.30.
What is the quality score of SHOPERSTOP?
Shoppers Stop Limited has a Quality Score of 44/100. 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 revenue of Shoppers Stop Limited (SHOPERSTOP)?
Shoppers Stop Limited reported trailing-twelve-month revenue of about ₹50.4B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of SHOPERSTOP?
The net profit margin of Shoppers Stop Limited is about -0.7%, meaning it is currently running at a net loss. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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