Shoppers Stop Limited has informed the Exchange regarding Cessation of Mr Nagesh SatyanarayanBasavanhalli as Chairman of the company w.e.f. July 17, 2025.
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Shoppers Stop announced audited results for Q4 and FY ended March 31, 2025. Consolidated revenue from operations rose about 7% to Rs 4,627.64 crores in FY25 from Rs 4,316.59 crores a year earlier, but net profit dropped sharply to Rs 10.89 crores from Rs 77.25 crores. Q4 standalone revenue was Rs 1,022.36 crores and net profit was just Rs 2.47 crores. The Board accepted the decision of founder and Non-Executive Chairman Mr. B.S. Nagesh not to seek reappointment at the July 17, 2025 AGM, ending a 34-year association. To fill the role, the Board appointed existing Non-Executive Director Mr. Nirvik Singh, former Global COO of Grey Group (WPP), as Non-Executive Chairman effective July 18, 2025. The company also appointed M/s. Parikh & Associates as Secretarial Auditors for a five-year term starting April 1, 2025, subject to shareholder approval.
The sharp drop in FY25 profit despite revenue growth is the key concern and may weigh on the stock in the short term. The chairman transition is orderly, with a well-credentialed insider successor and no change in the CEO/MD (Kavindra Mishra), so governance continuity is maintained.