Baazar Style Retail Ltd(STYLEBAAZA)

NSE: STYLEBAAZABSE: 544243

₹ 373.8+0.89%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 2,883 crWebsite: www.stylebaazar.inUpdated: 24 Oct 2026

About

Baazar Style Retail runs value-fashion stores under the Style Baazar name, mainly in Eastern India, and reports a single segment, "Retail Sales". FY26 revenue was 1840.95 (Rs Cr), and the store count reached 283 as of September 30, 2026. Its 11 private labels made up 62% of revenue in Q1 FY27.^[1][2][3][4]

Business and brands

The company reports only one segment, Retail Sales (FY25 annual report).^[1]
11 private labels made up 62% of revenue (Rs 3,006 Mn) in Q1 FY27, up from 61%. Square Up had its highest-ever quarterly revenue of Rs 1,207 Mn.^[4]
Private labels were 53% of revenue (Rs 9,770 Mn) in FY26, up from 45%, and private-label revenue grew 62% YoY.^[5]
Management targets a private-label share of about 65% within two years, with prices adjusted later once brand recall is established.^[6][5]

Store network

283 stores as of September 30, 2026, up 13% YoY. Rental area was 26.69 lakh sq ft, up 16% YoY.^[3]
In Q2 FY27 the company opened 14 stores and closed 7.^[3]
Store count was 263 at Q4 FY26 (+23% YoY), compared with 214 in FY25.^[5][1]
Store count reached 286 on October 11, 2026, after openings in Barhiya (Bihar), Siliguri, Fulbari, Naini (Prayagraj) and Raniganj.^{[7][8][9][10][11]}

Key operating numbers

SSSG was -25% in Q2 FY27 and -11% in H1 FY27. FY26 SSSG was 3%.^[3][5]
Monthly sales per sq ft were Rs 642 in Q2 FY27 (-26% YoY) and Rs 660 in H1 FY27 (-14% YoY), against Rs 731 in FY26.^[3][5]
Management attributed the 10% fall in Q2 FY27 revenue to Durga Puja moving from Q2 FY26 into Q3 FY27.^[3]
In Q1 FY27, 19.9 Mn units were sold (+32%) across 5.53 Mn bills (+24%). Average transaction value was Rs 933 (+4%).^[4]
Gross margin was 34.1% in Q1 FY27, against 35.8% a year earlier. FY26 gross margin was 33.4%.^[4][5]
Inventory days were 129 in FY26.^[5]
Rent was Rs 58 per sq ft in Q3 FY26, and management guided to Rs 57-60 for the next year.^[6]

Markets

Focus markets (Jharkhand, Andhra Pradesh, Tripura, Uttar Pradesh, Arunachal Pradesh) were 22% of revenue in Q1 FY27, up from 19%. Their sales were Rs 1,086 Mn vs Rs 726 Mn, and their store count rose from 48 to 65.^[4]
The core markets are West Bengal, Odisha, Assam and Bihar. Uttar Pradesh stores rose from 4 to 21 in FY25.^[4][1]

Expansion plans

The company targets 500+ stores by FY29, adding 60-80 stores a year (raised from 40-50).^[5][6]
It plans two regional distribution centres and 5-7 collection centres within 12-18 months. The Assam centre cut delivery time to stores there from about 10 days to 5-6 days.^[6]
It plans warehouse capex of Rs 20-25 cr and a move to SAP ERP.^[6]
It aims to fit double-height gondolas in 80% of stores within 12-14 months. Early data showed about Rs 11,000 sales per sq ft for converted stores vs about Rs 9,000 for others.^[6]

Recent developments

Cupid Ltd is making a strategic investment of Rs 331.53 Cr through up to 1.01 Cr warrants at Rs 328.25 each. The funds are for store expansion, debt reduction and an entry into personal care.^[5][6]
Whole-Time Directors Rohit Kedia and Pradeep Kumar Agarwal resigned, effective September 24 and September 25, 2026.^[12][13]
In the Q2 FY27 festive season, a Style Baazar wardrobe installation set a Guinness World Record.^[3]
The company listed on NSE and BSE on September 6, 2024, after its IPO.^[1]

Market Cap

₹2,883 Cr

High / Low

₹446 / 230

Stock P/E

59.3

Price / Book

6.2

Book Value

₹60

EPS

₹6.3

No. of Shares

7.46 Cr

ROCE

7.9%

ROE

11.0%

OPM

5.7%

Debt / Equity

0.77

Sales

₹1,841 Cr

Net Profit

₹47 Cr

Promoter holding

36.0%

Loading chart…

Signal history

AI Deep Dive

The analysis Screener can't give you

Our models read the latest earnings call, annual report, and financials end-to-end - then grade management, value the business, and flag the risks. Unlock all of it for this company:

Verdict
The headline call - descriptive label, conviction, and the synthesis behind it.
Valuation
Guidance-anchored P&L bridge - worst / average / best multiple cases.
Walk the talk
Did management deliver on past guidance? A commitment-by-commitment scorecard.
Red flags
Forensic and governance risk pointers, severity-ranked.
Balance sheet
Solvency and earnings-quality score.
Concall briefs
Quarter-by-quarter earnings-call briefs - what changed and why.

₹49 unlocks this company for 90 days, ₹299 for a full year - bundles bring it lower. Built on public disclosures - educational, not investment advice.

AI Deep Dive

Verdict

Locked

The headline call - descriptive label, conviction, and the synthesis behind it.

Company data

Financials