Shoppers Stop Limited has informed the Exchange regarding Change in Auditors of the company.
SHOPERSTOP · price
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Shoppers Stop Limited reported audited financial results for Q4 and FY ended March 31, 2026. The company posted a consolidated net loss of Rs 36.09 Crores for FY2026 versus a profit of Rs 10.89 Crores in FY2025, driven by higher expenses and finance costs. Revenue from operations grew to Rs 5,043 Crores from Rs 4,628 Crores year-on-year. The Board re-appointed Mr. Arun Sirdeshmukh as Independent Director for a second 5-year term from October 20, 2026. The company also approved investing up to Rs 40 Crores in its wholly-owned subsidiary Global SS Beauty Brands Limited via a rights issue of preference shares, bringing total investment in the subsidiary to Rs 150 Crores. PwC LLP was re-appointed as Internal Auditors. Statutory auditors S R B C & CO LLP issued an unmodified opinion, though an Emphasis of Matter was noted on a Rs 20.11 Crore service tax dispute pending before the Supreme Court. Note: The exchange headline references a 'Change in Auditors' which does not appear in this filing — the statutory auditor (S R B C & CO LLP) continues, and the internal auditor (PwC) was reappointed, not changed.
The company swung to a net loss in FY2026 due to elevated finance and depreciation costs, though revenue growth is positive. The Rs 40 Crore additional investment in the beauty subsidiary signals continued expansion but adds to the cash outflow burden. The service tax dispute remains a contingent liability.