ALFA Finder
| Market Cap | ₹5,474 CrSpecialty Retail |
|---|---|
| 1-Year Return | 73.6%Price Performance |
| Promoter Holding | 64.9%Stable Stake |
| RSI | 54.0Neutral Zone |
| Metric | Q2-27 | Q1-27 | Q2-26 |
|---|---|---|---|
| Revenue from Operations | 940 | 789 | 503 |
| Other Income | 0.5 | 0.6 | 0.2 |
| Total Income | 941 | 790 | 504 |
| Profit Before Tax | 36.3 | 31.5 | 15.2 |
| Net Profit | 28.0 | 23.7 | 10.8 |
| Operating Margin | 3.9% | 4.0% | 3.0% |
| Net Profit QoQ | +18.1% | ||
| Net Profit YoY | +159.3% | ||
| Adj. Profit QoQ | +15.9% | ||
| Adj. Profit YoY | +138.7% | ||
Key highlights
- Consolidated revenue from operations grew 86.9% year-on-year to ₹940 crore in Q2 FY27
- Net profit jumped 159.3% to ₹28.0 crore, up from ₹10.8 crore in the corresponding quarter last year
- Operating margins improved to 3.9% during the quarter, compared to 3.0% in Q2 FY26
- Successful completion of ₹360 crore fresh issue IPO in September 2026 to fund store expansion
- Company currently operates 536 stores with a roadmap to reach 750 outlets by FY28
- Consolidated profit before tax (PBT) reached ₹36.3 crore, up from ₹15.2 crore YoY
Top-line Momentum and Network Expansion
SS Retail reported a robust 86.9% year-on-year increase in consolidated revenue from operations, which reached ₹940 crore for the quarter ended September 30, 2026. This growth aligns with the company’s aggressive expansion in the specialty retail space, specifically focusing on mobile phones and consumer electronics. On a sequential basis, revenue rose by 19.1% from ₹789 crore in the June quarter.
The company is currently tracking toward a long-term guidance of doubling its revenue by FY28. Management previously indicated a target of reaching 750 stores, increasing from its current network, to capture a larger share of the organized electronics retail market.
Profitability Trends and Operating Efficiency
Profitability saw a significant uplift as consolidated net profit surged 159.3% year-on-year to ₹28.0 crore. Operating margins improved to 3.9% in Q2 FY27, up from 3.0% in the year-ago period, reflecting better scale and cost management during the pre-festive season. Total expenses for the quarter were recorded at ₹9,044.72 crore, with purchases of traded goods remaining the primary cost driver.
The company's profit before tax reached ₹36.3 crore, more than doubling from ₹15.2 crore in Q2 FY26. This performance demonstrates the operating leverage inherent in the retail model as newly established stores mature and overall network density increases.
Utilization of IPO Proceeds
- Fresh issue proceeds of ₹360.00 crore intended for funding fit-outs for new stores in Fiscal 2027 and 2028.
- Allocated ₹124.53 crore for capital expenditure on store fit-outs, with the full amount remaining unutilised as of September 30, 2026.
- Utilised ₹601.77 crore of the ₹2,413.48 crore allocated for working capital requirements.
- Temporarily invested ₹192.47 crore of unutilised IPO proceeds in fixed deposits with scheduled commercial banks.
- Paid-up equity share capital increased to ₹74.37 crore following the listing on September 23, 2026.
Market Valuation and Technical Profile
Following its recent listing, SS Retail currently commands a market capitalization of ₹5,473.76 crore. The stock has demonstrated strong momentum, gaining 73.58% over the past year and 13.25% in the last week. With a Relative Strength Index of 54.0, the stock is trading in a neutral technical zone.
Promoter holding remains significant at 64.86%, providing stable ownership, while institutional investors hold an 8.66% stake. The specialty retail industry carries a TTM P/E of 43.54, which serves as a benchmark for the company as it integrates its new capital and continues its expansion toward FY28 goals.
| Date | Announcement | Amount |
|---|---|---|
| 14 Oct 2026 | Management Guidance: Target of 750 stores and 2x revenue by FY28Source: ndtvprofit.com | – |
| 13 Oct 2026 | Q1 FY27 Consolidated Net ProfitSource: choiceindia.com | ₹23.68 Cr |
| 13 Oct 2026 | Q1 FY27 Consolidated Revenue from OperationsSource: choiceindia.com | ₹789.05 Cr |
| 13 Oct 2026 | Q1 FY27 Standalone Net ProfitSource: choiceindia.com | ₹23.87 Cr |
| 13 Oct 2026 | Q1 FY27 Standalone Revenue from OperationsSource: choiceindia.com | ₹769.49 Cr |
What to watch next
- Deployment of ₹124.53 crore in IPO proceeds for store fit-outs across FY27 and FY28
- Progress toward the management's stated target of reaching a 750-store network
- Third-quarter financial performance update for the period ending December 31, 2026
| Share price | ₹736 |
|---|---|
| Market capitalisation | ₹5,473.76 Cr |
| Revenue (annual) | ₹2,351.03 Cr |
| Net profit (annual) | ₹59.83 Cr |
| Revenue (latest quarter) | ₹789.05 Cr+18.69% vs previous quarter |
| Net profit (latest quarter) | ₹23.58 Cr+35.68% vs previous quarter |
| Promoter holding | 64.86% |
| FII holding | 0.42%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by SS Retail Ltd announcing its unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2026. Market figures from a third-party data provider.
