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Baazar Style Retail Ltd (STYLEBAAZA)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544243 NSE: STYLEBAAZA Retailing | Small Cap | Baazar Style Retail Share Price

₹337.80 5.90 (1.78%)

As on 04-Jun'26 16:59

Baazar Style Retail Ltd (STYLEBAAZA)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544243 NSE: STYLEBAAZA Retailing | Small Cap | Baazar Style Retail Share Price

₹337.80 5.90 (1.78%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹2,571 Cr.
Current Price
₹337.8
52-Week Low / High
₹230 / 427
TTM EPS
₹6.2
TTM Sales
₹1,841 Cr.
Book Value per Share
₹65.6
P/E Ratio
54.84
Lower than its 5-year historical median
Industry PE
70.6
Price to Book (P/B)
5.15
Higher than its 5-year historical median
Price to Sales (P/S)
1.40
Lower than its 5-year historical median
EV/EBITDA
10.54
In line with its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
4.76%
Outperforms industry median
Return on Capital Employed (ROCE)
18.87%
Outperforms industry median
Return on Assets (ROA)
1.02%
Operating Profit Margin
14.5%
Net Profit Margin
1.1%
Gross Profit Margin
9.6%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
38.13%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
33.55%
Net Profit Growth (1 Year)
-
-32.97%
Asset Quality
Promoter Holding
45.71%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹461 Cr.
Equity
₹38.1 Cr.
Face Value
₹5
All Time Low / High
₹181.30 / 430.95

Baazar Style Retail stock performance

Key Ratios
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Quality

Somewhat Good

Valuation

Fair

Price Trend

Semi Strong
Q.1 Is Baazar Style Retail Ltd a good quality company?
Baazar Style Retail Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Baazar Style Retail Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Baazar Style Retail Ltd vs industry peers?
Baazar Style Retail Ltd revenue CAGR is 16.38%, compared to the industry median CAGR of 0.00%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Baazar Style Retail Ltd?
Promoters hold 45.71% of the Baazar Style Retail Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Baazar Style Retail Ltd over the last decade?
Over the last 1 year(s), the stock has delivered a CAGR of 31.09% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Baazar Style Retail Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 23.4%34.3%29.4%14.8%11.2%7.7%12.2%16.9%23%18.9%-
Value Creation
Index
0.71.51.10.1-0.2-0.5-0.10.20.60.4-

Growth Parameters

Sales 1091843075386294275517889731,3441,841
Sales YoY Gr.-69.8%66.7%75.2%16.9%-32.2%29.1%43%23.5%38.1%-
Adj EPS 0.61.31.81.3-1.5-3-1.10.93.33.26.2
YoY Gr.-117.2%39.7%-29%-217.6%NANANA274.7%-0.6%-
BVPS (₹) 1.43.311.119.317.614.721.627.730.854.165.6
Adj Net
Profit
24.79.57.6-9-18-7.56.122.824.247
Cash Flow from Ops. -0.535.3-12.763.247.415.632.911252.8-
Debt/CF from Ops. -32.111.15.6-71.31.76.53.51.63.2-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 32.3%16.4%34.6%38.1%
Adj EPS 21.1%NANA-0.6%
BVPS50.5%25.1%35.8%75.7%
Share Price - - - 32.6%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
42.255.726.38.6-8-18.2-6.43.611.27.810.3
Op. Profit
Mgn %
67.48610.411.112.613.11514.514.4
Net Profit
Mgn %
1.82.53.11.4-1.4-4.2-1.40.82.31.82.6
Debt to
Equity
3.62.80.50.80.80.90.70.60.80.40.1
Working Cap
Days
010513114616122619216516816372
Cash Conv.
Cycle
0212837283058546151-1

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales1091843075386294275517889731,344
Operating Expenses + 1021712835065653804836868281,151
Manufacturing Costs34821231418243042
Material Costs82134213369443302376534648891
Employee Cost 4915354630456580109
Other Costs 132446815334456371109
Operating Profit 6142432644768101144193
Operating Profit Margin (%) 6.0%7.4%8.0%6.0%10.2%10.9%12.4%12.9%14.8%14.3%
Other Income + 0001315106109
Exceptional Items -000000000-11
Interest 24510353435415172
Depreciation 125114548536173100
Profit Before Tax 371512-13-20-1052919
Tax 1354-3-2-2074
Profit After Tax 2598-10-18-852215
PAT Margin (%) 1.6%2.5%3.1%1.4%-1.6%-4.3%-1.5%0.7%2.3%1.1%
Adjusted EPS (₹)0.51.31.81.3-1.6-3.0-1.20.73.22.0
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Valuation of Baazar Style Retail - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 5126011710890144194215404
Share Capital 11444433353537
Reserves 4115611310385110159180367
Debt +173329787682102115178166
Long Term Debt1213427292517182918
Short Term Debt520255147578597149149
Minority Interest0000000000
Trade Payables2444104165172148180166262311
Others Liabilities 651731284275319380501861
Total Liabilities 51942103916395947448541,1561,742

Fixed Assets

Net Fixed Assets +142148993523383864686201,020
Gross Block1625571193964315236548591,330
Accumulated Depreciation249204593136186239310
CWIP 00133232714
Investments 0000000000
Inventories3359131233231202280317433521
Trade Receivables3110000000
Cash Equivalents -26814372451522
Others Assets 3723435046516382164
Total Assets 51942103916395947448541,1561,742

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + -135-136347163311253
PBT 371512-13-20-1052919
Adjustment 461020807381101117176
Changes in Working Capital -7-10-20-390-5-53-68-31-130
Tax Paid -0-10-5-4-0-2-5-3-12
Cash Flow From Investing Activity + -6-100-56-26-9-27-43-85-103
Capex -6-90-56-26-9-27-43-85-103
Net Investments 00000000-0-0
Others -0-0000000-00
Cash Flow From Financing Activity + 813-475-46-3729-8-1854
Net Proceeds from Shares 200500062450175
Net Proceeds from Borrowing 00035-25-0310-16
Interest Paid -2-40-100-9-7-9-48-67
Dividend Paid 0000000000
Others 817-40-43-33-26-4720-38
Net Cash Flow 1616-9218-1894

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)36.1355.6926.348.61-8.76-18.54-6.863.0210.764.76
ROCE (%)23.3834.3329.4414.8411.157.6812.1716.8922.9818.87
Asset Turnover Ratio2.112.532.021.791.220.690.820.990.970.93
PAT to CFO Conversion(x)-0.50.60.56-1.63N/AN/AN/A6.65.093.53
Working Capital Days
Receivable Days8.603.400.900000000
Inventory Days111.8090.90112.40123.20134.50185.10159.60138.30140.50129.50
Payable Days107.7092.50126.30133138.80193.40159.40118.30120.40117.20

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Baazar Style Retail Ltd FAQs

The current trading price of Baazar Style Retail on 04-Jun-2026 16:59 is ₹337.8.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 03-Jun-2026 the market cap of Baazar Style Retail stood at ₹2,571.2 Cr

The latest P/E ratio of Baazar Style Retail as of 03-Jun-2026 is 54.84.

The latest P/B ratio of Baazar Style Retail as of 03-Jun-2026 is 5.15.

The 52-week high of Baazar Style Retail is ₹426.9 and the 52-week low is ₹230.0.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Baazar Style Retail is ₹1,841 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Baazar Style Retail Ltd is a average quality company.

The key valuation ratios of Baazar Style Retail Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Baazar Style Retail Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Baazar Style Retail Ltd

Baazar Style Retail Limited was incorporated as Dwarkadas Mohanlal Private Limited, a private limited company under the Companies Act, 1956 on June 3, 2013, and was granted the certificate of incorporation by the RoC. Subsequently, the name of the Company was changed to Baazar Style Retail Private Limited pursuant to a special resolution passed by the shareholders of the Company on November 21, 2013, and a fresh certificate of incorporation dated November 26, 2013 was issued by the RoC. Pursuant to the conversion of the company into a public limited company and a special resolution passed by its Shareholders at the EGM on December 16, 2021, the name of the was changed to ‘Baazar Style Retail Limited’, and the RoC issued a fresh certificate of incorporation on January 6, 2022.

The company operates in the value retail sector, offering a diverse range of both apparel and non-apparel consumer goods. These products are retailed through a network of stores operating under the brand names ‘Express Baazar’, ‘Mega Baazar’, and ‘Style Baazar’. The company’s offerings are bifurcated under the apparels and general merchandise verticals. Within the apparels vertical, it offers garments for men, women, boys, girls and infants, whereas it’s general merchandise offerings include both non-apparels and home furnishing products. Its target customer segment is the aspiring middle class comprising of households, comprising of fashion conscious, value and quality seeking youth and young families, which forms the bulk of purchasing power of the Indian population. The company focuses on providing a family-oriented shopping experience, offering quality products and strives to offer every Indian stylish merchandise at an affordable price. By providing a family-oriented shopping experience, it is a one-stop shop catering to the requirements of the entire family by providing a quality product portfolio at an affordable price. 

The company ventures into untapped markets with high potential by offering multiplicity of brands, wide range of apparels and general merchandise, customised product range catering to the local preferences, brand specific counters highlighting specific products and brands such as Sparky and K-Lounge counter, where it offers branded products for the Killer brand. Its stores are operated on a cluster-based expansion model in which a new store is opened and operated within the same or nearby districts in which it operates its existing stores. This enables it to increase efficiencies in supply chain and inventory management processes, strengthen its brand visibility in local markets, optimize its marketing expenditure, efficient utilization of its human resources and provides it with an incisive understanding of customer preferences at a micro market level.

Business area of the company

The company operates in the value retail sector, offering a diverse range of both apparel and non-apparel consumer goods.

Awards, accreditations and recognitions

  • 2019: IMAGES Most Admired Fashion Retailer of the Year - Large Format Regional MBO Chain Award in recognition of excellence in the business of fashion by Indian Fashion Forum 2019.
  • 2019: ‘Pride of Bengal Award’ by Century ply (Edition 2.0)
  • 2020: ‘Emerging Retailer of the Year Award’ for innovative, disruptive in the last five years by Bhartiya City Centre.
  • 2022: ET Industry Leader Award ‘Industry Leader in Fashion Retail’ by the Times Group.
  • 2024: ‘Trade Excellence Awards, 2024’ by Confederation of West Bengal Trade Associations.

History and milestones 

  • 2014: Incorporation of the company.
  • 2014: The company opened its maiden store at Netaji Road, Khagra, Berhampore, West Bengal.
  • 2016: Opened its maiden store in the state of Odisha.
  • 2016: Crossed an aggregate of 0.10 million square feet of retail space.
  • 2016: The revenue of the company crossed Rs 100 crore.
  • 2017: Crossed an aggregate of 0.17 million square feet of retail space
  • 2017: The company opened its maiden store each in Bihar and Tripura.
  • 2017: The store count of the company increased to 19 stores.
  • 2018: The company raised funds from Late Rakesh Jhunjhunwala and Intensive Finance Private Limited.
  • 2018: The company opened its maiden store each in the states of Assam and Jharkhand
  • 2018: The store count of the company increased to 38 stores.
  • 2019: The revenue of the company crossed Rs 500 crore.
  • 2019: The company opened its maiden store in the state of Andhra Pradesh.
  • 2019: Crossed an aggregate of 0.70 million square feet of retail space.
  • 2019:  The store count of the company increased to 72 stores.
  • 2023: The company opened its maiden store each in the states of Uttar Pradesh and Chhattisgarh.
  • 2023: The store count of the company increased to 135 stores across nine states of India.
  • 2023: Crossed an aggregate of 1.20 million square feet of retail space.
  • 2024: Incorporation of its wholly-owned Subsidiary.
  • 2024: The store count of the company increased to 162 stores across nine states of India.
  • 2024: Crossed an aggregate of 1.40 million square feet of retail space.

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