Sector Alpha Week of 2026-07-31
Sector Alpha — machine-written from the numbers · Data as of 2026-07-31

Baazar Style Retail Ltd

STYLEBAAZA
Textiles - Readymade Apparel

Baazar Style Retail Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it.

The sharpest disagreement: annual EPS moved +220.4% against a +0.8% price move — the market has not yet caught up with the delivery.

The price is in a downtrend (1 weeks in) while the P/E sits at the 59th percentile of its own 2-year range. Underneath, the last four quarters read mixed, and 346% of the last 3 years' profit arrived as cash. What settles it: whether the price catches up with earnings that have already moved.

Price
₹271
+0.8% 1Y
P/E
93.9×
59th pctile
of its own 2-year range
Revenue (Mar 26)
₹466 Cr
+35.1% YoY
Profit (Mar 26)
₹−26.0 Cr
Operating margin
10.0%
−2.0 pp YoY
ROCE
7%
FY26
ROIC
5.3%
vs WACC 12.0% → −6.7 pp
Cash conversion
346%
of profit, last 3 FY
01 · Price story

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Baazar Style Retail Ltd trades at ₹271, in a downtrend and 1 weeks into that stage. That is −13.7% against its own 200-day average. It sits at 18% of a 52-week range of ₹239 to ₹414. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (8 weeks and counting).

Today the stock is in a downtrend — week 1 of stage 4, confirmed. At ₹271 it trades −13.7% versus its 200-day average and sits at 18% of its 52-week range (₹239–₹414).

Jul 26: ₹271 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 2-year window.
−13.7% versus the 200-day line, week 1 of stage 4
Price50-day avg200-day avg
S4S2S4S1S2₹432₹367₹302₹237₹172₹271₹315Sep 24Mar 25Sep 25Mar 26Jul 26
S4S2S4S1S2₹432₹367₹302₹237₹172₹271₹315Sep 24Sep 25Jul 26
Beating or trailing, week by week since 2024 Each cell is one week from 2024 to now (105 weeks): the stock's trailing 13-week return minus the NIFTY 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the NIFTY 500 reading is not held.
trailing 13-week return vs the NIFTY 500
Sep 24Jul 26

Against the market, two honest reads. Cumulative: over the last 1.9 years the stock moved −32% while the NIFTY 500 moved +0% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (8 weeks and counting; last ahead the week of 2026-06-19) — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

02 · Valuation

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Baazar Style Retail Ltd trades at 93.9× P/E, mid-range by its own standards (59th percentile). Its long-run median P/E is 89.2×, measured across 1.9 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 93.9× is mid-range by its own standards (59th percentile), against a long-run median of 89.2× measured over 1.9 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 93.9× vs a 89.2× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 1.9-year window; loss-period spikes above 158× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
mid-range by its own standards (59th percentile)
P/EMedianEPS (TTM) (quarterly)
166.7×₹5.2135.2×₹3.9103.7×₹2.672.1×₹1.340.6×₹0.0×92.00×₹3Sep 24Mar 25Sep 25Mar 26Jul 26
166.7×₹5.2135.2×₹3.9103.7×₹2.672.1×₹1.340.6×₹0.0×92.00×₹3Sep 24Sep 25Jul 26
PEG 2.06 PEG ratio per quarter — the P/E divided by the earnings-growth rate. The dashed line marks 1.0: below it the growth is cheap against the multiple, above it the price already prices the growth in. Last 5 quarters.
above 1.0, the multiple already banks the growth
PEGPEG = 1.0
2.1×1.8×1.5×1.2×0.9××2.06×Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26
2.1×1.8×1.5×1.2×0.9××2.06×Q4 FY25Q2 FY26Q4 FY26
P/E
93.9×
59th percentile of 2y
PEG
0.69
as reported

Why the multiple sits where it does: over the past year annual EPS moved +220.4% against a +0.8% price move — earnings outran the price, pushing the multiple DOWN its own range.

Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.

03 · Stage: No read

Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Baazar Style Retail Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 9 quarters across 2 curves, on partial evidence.

Growth, year by year: revenue +37.0% in FY26, profit +213.3% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn. Turnaround-year spikes shown pinned (▲).
Revenue YoYProfit YoYEPS YoY
39%327%35%229%31%131%27%33%22%−65%%%37%213.3%FY23FY24FY26
39%327%35%229%31%131%27%33%22%−65%%%37%213.3%FY23FY24FY26
Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. Where the trailing-twelve-month history is short, the curve falls back to single-quarter year-on-year growth — noisier, and the classifier smooths and caps base-effect spikes before reading. Base-effect spikes shown pinned (▲). A missing point means that reading is not held for the quarter.
the trajectory the stage is read from · revenue stabilising, profit accelerating
RevenueProfitEPS
76%328%59%226%42%125%25%23%8.5%−78%%%35.1%206.7%220.4%Jun 23Sep 24Mar 26
76%328%59%226%42%125%25%23%8.5%−78%%%35.1%206.7%220.4%Jun 23Sep 24Mar 26
ROCE Trailing-twelve-month operating profit (before interest and tax) as a share of average capital employed — total assets minus current liabilities, the standard textbook basis, %.
the return curve, computed quarterly
ROCE
19%16%13%9.0%5.5%%17.2%Jun 23Dec 23Sep 24Jun 25Mar 26
19%16%13%9.0%5.5%%17.2%Jun 23Sep 24Mar 26
Revenue growth
Rolling over
latest +35.1% · span +13.1% to +65.4%
ROCE
Rising
latest 17.2% · span 6.5%–18.5%

Why it matters: with too little history, an honest page says so instead of guessing a trajectory.

The latest quarter’s profit carries a one-off item larger than the operating base, so the profit curve is shown but does not vote in the stage call.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.

Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; share price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue+37.0%+32.7%
Profit+213.3%+111.0%
EPS+220.4%+62.6%
Share price+0.8%
Revenue YoY (Mar 26)
+35.1%
latest quarter vs a year ago
Revenue 10y
32.7%
long-run compound pace
04 · 4-Factor Sector Score

4-Factor Sector Score

35.8/100 — rank 20 of 26 in Textiles - Readymade Apparel · 71% evidence confidence

Baazar Style Retail Ltd scores 35.8 out of 100 against the 26 companies it is compared with in Textiles - Readymade Apparel, ranking 20. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 18.1 + 6.3 + 8.6 + 2.8 = 35.8. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

05 · Revenue

Revenue Revenue is the top line: everything the company billed its customers in the period.

Baazar Style Retail Ltd reported ₹466 Cr of revenue in the Mar 26 quarter, +35.1% year on year. That is the 9th straight quarter of year-on-year growth. Over 3 years it has compounded at 32.7% a year. The last full year, FY26, came in at ₹1,841 Cr. The last four reported quarters add to ₹1,842 Cr.

FY26 revenue came in at ₹1,841 Cr (+37.0% on the year), capping 3 years at 32.7% compound. The latest quarter (Mar 26) printed ₹466 Cr, +35.1% year on year — the 9th consecutive quarter of year-over-year growth.

FY26 revenue ₹1,841 Cr (+37.0% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 4-year window. A bar is red when it is lower than the year before.
32.7% a year over 3 years
RevenueYoY growth
2.0k39%1.5k35%99431%49727%022%₹ Cr%₹1,84137%FY23FY24FY26
2.0k39%1.5k35%99431%49727%022%₹ Cr%₹1,84137%FY23FY24FY26
Mar 26: ₹466 Cr (+35.1% YoY) Quarterly revenue bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
9th straight quarter of growth
Revenue (quarterly)YoY growth
57576%43159%28742%14425%08.5%₹ Cr%₹46635.1%Jun 23Sep 24Mar 26
57576%43159%28742%14425%08.5%₹ Cr%₹46635.1%Jun 23Sep 24Mar 26

Pace check: the last four quarters averaged +39.1% growth against the decade's 32.7% — the current year is running faster than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +37.1% over the last 4 quarters against +37.6%/yr over the last 8 — stabilising; TTM profit +206.7% vs +41.4%/yr — accelerating.

06 · Operating margin

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Baazar Style Retail Ltd's operating margin is 10.0% in the Mar 26 quarter, −2.0 percentage points against the same quarter a year ago. Across 4 fiscal years the operating margin has ranged 13.0% to 15.0%. The current quarter is running below every full year in that window.

The latest quarter's operating margin is 10.0%, −2.0 pp against the same quarter a year ago. Across 4 fiscal years the operating margin has ranged 13.0%–15.0%.

🚨 Why the margin moved: operating margin went −1.2 pp year on year while gross margin went −2.9 pp — the loss came mostly from the gross line: input costs and pricing.

FY26: 14.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 4-year window.
within a 13.0–15.0% band over 4 years
operating marginYoY change (pp)
15.2%2.2%14.6%1.4%14.0%0.5%13.4%−0.4%12.8%−1.2%%%14%0%FY23FY24FY26
15.2%2.2%14.6%1.4%14.0%0.5%13.4%−0.4%12.8%−1.2%%%14%0%FY23FY24FY26
Mar 26: 10.0% operating margin (−2.0 pp YoY) Quarterly operating margin, %, line (left); year-on-year change in the margin, in percentage points, line (right). Last 12 quarters. Operating profit as a share of revenue, per quarter.
Operating marginYoY change (pp)
24%5.6%19%3.3%14%1.0%8.5%−1.3%3.1%−3.6%%%10%−2%Jun 23Sep 24Mar 26
24%5.6%19%3.3%14%1.0%8.5%−1.3%3.1%−3.6%%%10%−2%Jun 23Sep 24Mar 26
07 · Net profit

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Baazar Style Retail Ltd posted a net loss of ₹26.0 Cr in the Mar 26 quarter. Full-year FY26 profit was ₹47.0 Cr. The 3-year compound rate is 111.0%. That loss is 5.6% of the quarter's revenue. The same quarter a year earlier lost ₹6.0 Cr. 5 of the last 12 reported quarters were loss-making.

Mar 26 profit was ₹−26.0 Cr, null year on year. On the full year, FY26 printed ₹47.0 Cr (+213.3%), and the 3-year compound rate is 111.0%.

FY26 profit ₹47.0 Cr (+213.3% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 4-year window. A bar is red when it is lower than the year before.
111.0% a year over 3 years
Net profitYoY growth
51370%38262%25154%1346%0−62%₹ Cr%₹47213.3%FY23FY24FY26
51370%38262%25154%1346%0−62%₹ Cr%₹47213.3%FY23FY24FY26
Mar 26: ₹−26.0 Cr (null YoY) Quarterly net profit bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Net profit (quarterly)YoY growth
57−15%35−38%13−61%−10−83%−32−106%₹ Cr%₹−26−36.7%Jun 23Sep 24Mar 26
57−15%35−38%13−61%−10−83%−32−106%₹ Cr%₹−26−36.7%Jun 23Sep 24Mar 26
08 · Cash flow — the router

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 346% of Baazar Style Retail Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹126 Cr of operating cash against ₹47.0 Cr of profit. After ₹111 Cr of capital spending, ₹15.0 Cr was left as free cash.

FY26: operating cash of ₹126 Cr against reported profit of ₹47.0 Cr, leaving free cash of ₹15.0 Cr after ₹111 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 346% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

FY26: CFO ₹126 Cr vs profit ₹47.0 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 4-year window, annual resolution. FY25 reflects an acquisition year — point shown clipped.
346% of 3-year profit arrived as cash
Operating cashNet profitFree cash
146754−67−138₹ Cr₹126₹47₹15FY23FY24FY26
146754−67−138₹ Cr₹126₹47₹15FY23FY24FY26
FY26: CFO = 268% of profit (three-year rate 346%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash; outlier years shown pinned.
Conversion100%
316%258%200%142%84%%268%FY23FY24FY26
316%258%200%142%84%%268%FY23FY24FY26

Why conversion sits at 346%: the cash cycle tightened 17 days between FY23 and FY26 — cash that used to wait in the cycle now reaches the bank sooner.

Router verdict: the bigger cash user is investment — capital spending ran 2.5× depreciation over three years, so the next section's job is to check what that build-out is buying.

09 · Where the cash goes

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Baazar Style Retail Ltd's cash conversion cycle runs 86 days in FY26, down from 103 days in FY23. Capital spending ran ₹848 Cr over the last 3 years. At FY26 sales of ₹1,841 Cr each day of that cycle holds about ₹5.0 Cr, so roughly ₹434 Cr sits inside the business at any moment.

FY26: debtors at 0 days, inventory at 203 days — roughly 6.7 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 86 days, tighter than FY23's 103.

The full loop: cash goes out to suppliers and production on day 0; stock waits 203 days to sell; customers pay about 0 days after that; and suppliers themselves are paid at 117 days — netting out to the 86-day cycle.

In money terms: at FY26 sales of ₹1,841 Cr, each day of the cycle holds about ₹5.0 Cr — so the 86-day loop keeps roughly ₹434 Cr sitting inside the business at any moment.

FY26: a 86-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 4-year window.
−17 days vs FY23
Cash cycleInventory daysDebtor daysPayable days
26419312251−20days86d203d0d117dFY23FY24FY26
26419312251−20days86d203d0d117dFY23FY24FY26

On the investment side: capital spending of ₹848 Cr over the last 3 fiscal years against ₹343 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹12.0 Cr (FY26) — capacity paid for but not yet earning.

FY26: capex ₹111 Cr, work-in-progress ₹12.0 Cr Capital spending per fiscal year, ₹ Cr (bars); capital work-in-progress, ₹ Cr (line). Quarterly capital-spending history is not held for India — annual is the honest resolution.
a build-out
CapexWork-in-progress
5484112741370₹ Cr₹111₹12FY24FY25FY26
5484112741370₹ Cr₹111₹12FY24FY25FY26

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

10 · Return on capital

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

Baazar Style Retail Ltd earns a ROCE of 7% in FY26. Return on invested capital clears the cost of that capital by −6.7 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 2.6% net margin on 0.98× asset turns.

FY26 ROCE is 7%.

🚨 Why the return is what it is — the wiring (FY26): 2.6% net margin × 0.98× asset turns × 4.18× balance-sheet leverage ≈ 10.7% on equity. Margin does its share; leverage is a meaningful part of the equation.

The capstone test — ROIC − WACC: 5.3% − 12.0% = a −6.7 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.

FY26: ROCE 7% Return on capital employed by fiscal year, % (line); ROIC by fiscal year, % (line). 3-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the full ladder
ROCEROIC (annual)WACC
13%11%8.6%6.5%4.5%%7%5.1%FY24FY25FY26
13%11%8.6%6.5%4.5%%7%5.1%FY24FY25FY26
Q4 FY26: ROCE 9.3% (TTM) vs WACC 12.0% Trailing-twelve-month ROCE and ROIC, per quarter, %; dashed line = the cost of capital. Last 12 quarters, put on a trailing-twelve-month basis and anchored to the annual figure.
ROCE (TTM)ROIC (TTM)WACC
13%9.3%5.2%1.1%−2.9%%9.3%6.5%Q4 FY23Q2 FY25Q4 FY26
13%9.3%5.2%1.1%−2.9%%9.3%6.5%Q4 FY23Q2 FY25Q4 FY26
11 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.

Baazar Style Retail Ltd carries total debt of ₹995 Cr against shareholder equity of ₹450 Cr as of Mar 26, a debt-to-equity of 2.21. On the annual view that ratio went from 2.53 in FY23 to 2.21 in FY26. Read the returns elsewhere on this page with that leverage in mind.

Mar 26: total debt of ₹995 Cr against shareholder equity of ₹450 Cr — a debt-to-equity of 2.21. On the annual view, debt-to-equity went from 2.53 (FY23) to 2.21 (FY26). Read the returns on this page with that leverage in mind.

FY26: debt ₹995 Cr at 2.21× equity Total debt by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 4-year window.
Total debtDebt-to-equity
1.1k3.1×8072.9×5382.6×2692.4×02.1×₹ Cr×₹9952.21×FY23FY24FY26
1.1k3.1×8072.9×5382.6×2692.4×02.1×₹ Cr×₹9952.21×FY23FY24FY26
Mar 26: debt ₹995 Cr, debt-to-equity 2.21 Total debt per quarter, ₹ Cr (bars); debt-to-equity, × (line). Last 12 quarters. India reports the full balance sheet half-yearly, so the intervening quarter carries the prior reading forward.
Total debt (quarterly)Debt-to-equity
1.1k3.2×8072.8×5382.5×2692.1×01.8×₹ Cr×₹9952.21×Mar 23Sep 24Mar 26
1.1k3.2×8072.8×5382.5×2692.1×01.8×₹ Cr×₹9952.21×Mar 23Sep 24Mar 26
12 · Ownership

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Foreign institutions cut 4.8 points of Baazar Style Retail Ltd over 8 quarters, the biggest move on the register. That takes foreign institutions to 1.7% of the company. Domestic institutions moved −4.0 points over the same window, to 5.9%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Foreign institutions: −4.8 points over 8 quarters to 1.7%; Domestic institutions: −4.0 points over 8 quarters to 5.9%; Promoters: −0.8 points over 8 quarters to 44.8%.

🚨 Why the register moved: foreign institutions drove it (−4.8 points), alongside domestic institutions (−4.0 points) — distribution into the market’s bid.

Fiscal-year ends: promoters +0.1 pts from Mar 25 to Mar 26 Shareholding at each fiscal-year end (March quarter), % of the company. 2 year-ends held.
PromotersForeign inst.Domestic inst.Public
50%37%24%11%−1.9%%45.7%1.7%6.7%46.0%Mar 25Mar 26
50%37%24%11%−1.9%%45.7%1.7%6.7%46.0%Mar 25Mar 26
Foreign institutions cut 4.8 points over 8 quarters Shareholding by holder class, % of the company, quarterly, last 9 quarters.
PromotersForeign inst.Domestic inst.Public
52%38%25%11%−2.4%%44.8%1.7%5.9%47.5%Sep 24Sep 25Jun 26
52%38%25%11%−2.4%%44.8%1.7%5.9%47.5%Sep 24Sep 25Jun 26
13 · Safety line

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Baazar Style Retail Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

14 · Related companies · Textiles - Readymade Apparel
CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1Cantabil Retail India LtdCANTABIL 68.7/100Favorable setup77% evidence TURNING 23.6/35 Revenue 18% · PAT 28% · OPM change 4 pp 83% evidence 19.6/25 ROCE 19.1% · OPM 31% 95% evidence 12.6/20 P/E 21.4× · PEG — 50% evidence 12.9/20 RS sector 10.1% · RS bench -4.2% · 1Y -8.6%0 of 10 weeks ahead 70% evidence
Exact sum: 23.6 + 19.6 + 12.6 + 12.9 = 68.7 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
2V2 Retail LtdV2RETAIL 66.6/100Favorable setup79% evidence LEADER 28.6/35 Revenue 62.7% · PAT 100% · OPM change 2 pp 88% evidence 15.3/25 ROCE 19.3% · OPM 14% 100% evidence 9.4/20 P/E 56× · PEG — 15% evidence 13.3/20 RS sector 5.4% · RS bench 2.5% · 1Y 13.7%10 of 12 weeks ahead 100% evidence
Exact sum: 28.6 + 15.3 + 9.4 + 13.3 = 66.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3Kewal Kiran Clothing LtdKKCL 66.3/100Favorable setup96% evidence FADING 19.7/35 Revenue 21.1% · PAT 2% · OPM change 1 pp 88% evidence 18.5/25 ROCE 18.1% · OPM 19% 100% evidence 16.4/20 P/E 21.6× · PEG 0.59 100% evidence 11.7/20 RS sector 2.3% · RS bench -0.7% · 1Y -9.1%3 of 12 weeks ahead 100% evidence
Exact sum: 19.7 + 18.5 + 16.4 + 11.7 = 66.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4Iris Clothings LtdIRISDOREME 64.2/100Mixed-positive evidence87% evidence LEADER 22.3/35 Revenue 31.8% · PAT 31.9% · OPM change 3 pp 95% evidence 14.3/25 ROCE 16% · OPM 17% 95% evidence 7.6/20 P/E 57.4× · PEG — 50% evidence 20.0/20 RS sector 53% · RS bench 48.9% · 1Y 73.8%11 of 12 weeks ahead 100% evidence
Exact sum: 22.3 + 14.3 + 7.6 + 20 = 64.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5SBC Exports LtdSBC 58.7/100Mixed-positive evidence83% evidence LEADER 26.2/35 Revenue 34.4% · PAT 86.6% · OPM change -0.6 pp 83% evidence 11.5/25 ROCE 18.2% · OPM 4.2% 95% evidence 6.7/20 P/E 79.2× · PEG — 50% evidence 14.3/20 RS sector 39.5% · RS bench 36.9% · 1Y 141.4%12 of 12 weeks ahead 100% evidence
Exact sum: 26.2 + 11.5 + 6.7 + 14.3 = 58.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
6Pearl Global Industries LtdPGIL 58.7/100Mixed-positive evidence78% evidence BREAKING OUT 16.0/35 Revenue 11.5% · PAT 17.3% · OPM change 0 pp 83% evidence 16.9/25 ROCE 19.9% · OPM 10% 76% evidence 7.2/20 P/E 34.7× · PEG — 50% evidence 18.6/20 RS sector 33% · RS bench 29.8% · 1Y 35.4%10 of 12 weeks ahead 100% evidence
Exact sum: 16 + 16.9 + 7.2 + 18.6 = 58.7 · Decision use: Price leads the evidence: RS versus the benchmark is 29.8%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
7V-Mart Retail LtdVMART 58.3/100Mixed-positive evidence93% evidence BREAKING OUT 25.6/35 Revenue 19.1% · PAT 100% · OPM change 1 pp 100% evidence 7.2/25 ROCE 13.2% · OPM 15% 100% evidence 7.3/20 P/E 44.7× · PEG 2.5 65% evidence 18.2/20 RS sector 13.8% · RS bench 10% · 1Y -3.1%12 of 12 weeks ahead 100% evidence
Exact sum: 25.6 + 7.2 + 7.3 + 18.2 = 58.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8S P Apparels LtdSPAL 57.0/100Mixed-positive evidence96% evidence LEADER 14.9/35 Revenue 13.2% · PAT 8.5% · OPM change -2 pp 88% evidence 12.5/25 ROCE 14% · OPM 12% 100% evidence 11.7/20 P/E 24.7× · PEG 0.69 100% evidence 17.9/20 RS sector 28.9% · RS bench 25.4% · 1Y 19.9%12 of 12 weeks ahead 100% evidence
Exact sum: 14.9 + 12.5 + 11.7 + 17.9 = 57 · Decision use: Price leads the evidence: RS versus the benchmark is 25.4%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
9Monte Carlo Fashions LtdMONTECARLO 56.3/100Mixed-positive evidence69% evidence ASLEEP 22.6/35 Revenue 15.9% · PAT 38.1% · OPM change 6.5 pp 62% evidence 9.5/25 ROCE 14% · OPM 9.2% 95% evidence 14.5/20 P/E 9.7× · PEG — 50% evidence 9.7/20 RS sector 0% · RS bench -14.5% · 1Y -12.2%0 of 10 weeks ahead 70% evidence
Exact sum: 22.6 + 9.5 + 14.5 + 9.7 = 56.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
10Trent LtdTRENT 54.8/100Mixed-positive evidence89% evidence TURNING 23.0/35 Revenue 17.1% · PAT 12.1% · OPM change 3 pp 88% evidence 19.9/25 ROCE 28.3% · OPM 18% 100% evidence 3.7/20 P/E 92.8× · PEG 6.56 65% evidence 8.2/20 RS sector -21.8% · RS bench 1.5% · 1Y -40.4%1 of 12 weeks ahead 100% evidence
Exact sum: 23 + 19.9 + 3.7 + 8.2 = 54.8 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
11Arvind Fashions LtdARVINDFASN 53.7/100Mixed-positive evidence93% evidence TURNING 23.5/35 Revenue 14% · PAT 100% · OPM change 0 pp 100% evidence 14.9/25 ROCE 19.6% · OPM 12% 100% evidence 8.9/20 P/E 45.9× · PEG 1.95 65% evidence 6.4/20 RS sector -4.5% · RS bench -7.5% · 1Y -10%3 of 12 weeks ahead 100% evidence
Exact sum: 23.5 + 14.9 + 8.9 + 6.4 = 53.7 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -4.5% and the one-year return is -10%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
12Aditya Birla Lifestyle Brands LtdABLBL 51.7/100Mixed-positive evidence78% evidence ASLEEP 20.0/35 Revenue 9.1% · PAT 100% · OPM change 1 pp 100% evidence 12.0/25 ROCE 15% · OPM 15% 100% evidence 11.4/20 P/E 54.1× · PEG 1.39 65% evidence 8.3/20 RS sector — · RS bench -19% · 1Y -35.1%0 of 10 weeks ahead 25% evidence
Exact sum: 20 + 12 + 11.4 + 8.3 = 51.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
13Thomas Scott India LtdTHOMASCOTT 51.0/100Thin evidence · provisional54% evidence 18.2/35 Revenue 61.5% · PAT 54.4% · OPM change -0.4 pp 53% evidence 15.1/25 ROCE 20.4% · OPM 11.8% 71% evidence 11.0/20 P/E 21× · PEG — 15% evidence 6.7/20 RS sector -5.2% · RS bench -17.3% · 1Y -25.7%1 of 12 weeks ahead to 2026-03-29 70% evidence
Exact sum: 18.2 + 15.1 + 11 + 6.7 = 51 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
14Credo Brands Marketing LtdMUFTI 50.9/100Mixed-positive evidence63% evidence FADING 13.5/35 Revenue 0% · PAT -3.4% · OPM change -2 pp 45% evidence 17.0/25 ROCE 19.1% · OPM 29% 71% evidence 12.6/20 P/E 7.7× · PEG — 50% evidence 7.8/20 RS sector -12.7% · RS bench -15.7% · 1Y -49.6%5 of 12 weeks ahead 100% evidence
Exact sum: 13.5 + 17 + 12.6 + 7.8 = 50.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
15Vishal Mega Mart LtdVMM 50.5/100Mixed-positive evidence87% evidence ASLEEP 23.8/35 Revenue 19.8% · PAT 29.6% · OPM change 0 pp 100% evidence 11.8/25 ROCE 14.8% · OPM 15% 100% evidence 4.7/20 P/E 56.2× · PEG 5.39 65% evidence 10.2/20 RS sector 2.7% · RS bench -17.7% · 1Y -23.5%3 of 10 weeks ahead 70% evidence
Exact sum: 23.8 + 11.8 + 4.7 + 10.2 = 50.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
16Bella Casa Fashion & Retail LtdBELLACASA 50.2/100Mixed-positive evidence61% evidence 22.4/35 Revenue 21.8% · PAT 37% · OPM change -0.3 pp 53% evidence 12.7/25 ROCE 17.2% · OPM 8.7% 71% evidence 11.2/20 P/E 16.6× · PEG — 50% evidence 3.9/20 RS sector -20.8% · RS bench -31.3% · 1Y -41.5%0 of 12 weeks ahead to 2026-03-29 70% evidence
Exact sum: 22.4 + 12.7 + 11.2 + 3.9 = 50.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
17Vedant Fashions LtdMANYAVAR 47.5/100Mixed-negative evidence90% evidence ASLEEP 9.9/35 Revenue 2.4% · PAT 0.8% · OPM change -0.7 pp 88% evidence 19.4/25 ROCE 30.7% · OPM 33.8% 100% evidence 14.4/20 P/E 25× · PEG 1.61 100% evidence 3.8/20 RS sector -32% · RS bench -22.2% · 1Y -47.4%3 of 10 weeks ahead 70% evidence
Exact sum: 9.9 + 19.4 + 14.4 + 3.8 = 47.5 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
18Sai Silks (Kalamandir) LtdKALAMANDIR 47.1/100Mixed-negative evidence81% evidence ASLEEP 13.3/35 Revenue 4.8% · PAT 20.2% · OPM change -1 pp 95% evidence 15.4/25 ROCE 14.4% · OPM 14% 95% evidence 14.4/20 P/E 10× · PEG — 50% evidence 4.0/20 RS sector -16.9% · RS bench -33.5% · 1Y -51.9%0 of 10 weeks ahead 70% evidence
Exact sum: 13.3 + 15.4 + 14.4 + 4 = 47.1 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
19Lux Industries LtdLUXIND 38.6/100Mixed-negative evidence78% evidence ASLEEP 10.1/35 Revenue 13.4% · PAT -35.8% · OPM change -2 pp 83% evidence 7.8/25 ROCE 8.1% · OPM 7% 76% evidence 9.0/20 P/E 34.6× · PEG — 50% evidence 11.7/20 RS sector 5.9% · RS bench 2.6% · 1Y -11.5%8 of 12 weeks ahead 100% evidence
Exact sum: 10.1 + 7.8 + 9 + 11.7 = 38.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
20Baazar Style Retail Ltdthis pageSTYLEBAAZA 35.8/100Mixed-negative evidence71% evidence ASLEEP 18.1/35 Revenue 37% · PAT 100% · OPM change -2 pp 65% evidence 6.3/25 ROCE 7.4% · OPM 10% 100% evidence 8.6/20 P/E 93.9× · PEG — 15% evidence 2.8/20 RS sector -13.1% · RS bench -15.6% · 1Y 0.1%6 of 12 weeks ahead 100% evidence
Exact sum: 18.1 + 6.3 + 8.6 + 2.8 = 35.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
21Raymond Lifestyle LtdRAYMONDLSL 35.4/100Mixed-negative evidence68% evidence ASLEEP 17.6/35 Revenue 9.2% · PAT 4.9% · OPM change 1 pp 74% evidence 2.0/25 ROCE 3.5% · OPM 6% 100% evidence 10.2/20 P/E 29× · PEG — 15% evidence 5.6/20 RS sector -8.1% · RS bench -26.6% · 1Y -35.3%0 of 10 weeks ahead 70% evidence
Exact sum: 17.6 + 2 + 10.2 + 5.6 = 35.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
22Go Fashion (India) LtdGOCOLORS 30.5/100Adverse evidence81% evidence TURNING 4.7/35 Revenue -1.6% · PAT -39.1% · OPM change -4 pp 95% evidence 10.2/25 ROCE 10.6% · OPM 27% 95% evidence 12.3/20 P/E 32.2× · PEG — 50% evidence 3.3/20 RS sector -47.6% · RS bench -28.4% · 1Y -61.9%7 of 10 weeks ahead 70% evidence
Exact sum: 4.7 + 10.2 + 12.3 + 3.3 = 30.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
23Aditya Birla Fashion & Retail LtdABFRL 30.2/100Adverse evidence61% evidence ASLEEP 12.6/35 Revenue 11.2% · PAT -80% · OPM change -3 pp 62% evidence 3.9/25 ROCE -3.1% · OPM 9% 76% evidence 10.0/20 P/E — · PEG — 0% evidence 3.7/20 RS sector -13% · RS bench -15.9% · 1Y -18.3%0 of 12 weeks ahead 100% evidence
Exact sum: 12.6 + 3.9 + 10 + 3.7 = 30.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
24Gokaldas Exports LtdGOKEX 28.3/100Adverse evidence90% evidence TURNING 8.5/35 Revenue 3.2% · PAT -36.7% · OPM change -1 pp 88% evidence 8.1/25 ROCE 8.4% · OPM 11% 100% evidence 1.9/20 P/E 59.6× · PEG 4.98 100% evidence 9.8/20 RS sector -6.8% · RS bench 7.5% · 1Y -9.6%8 of 10 weeks ahead 70% evidence
Exact sum: 8.5 + 8.1 + 1.9 + 9.8 = 28.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
25Kitex Garments LtdKITEX 22.5/100Adverse evidence65% evidence ASLEEP 3.9/35 Revenue -32.1% · PAT -80% · OPM change -16 pp 83% evidence 4.5/25 ROCE 1.5% · OPM 1% 76% evidence 8.5/20 P/E 290× · PEG — 15% evidence 5.6/20 RS sector -9.2% · RS bench -19.1% · 1Y -44%0 of 10 weeks ahead 70% evidence
Exact sum: 3.9 + 4.5 + 8.5 + 5.6 = 22.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
26Karnika Industries LtdKARNIKA 59.8/100Thin evidence · provisional48% evidence ASLEEP 20.3/35 Revenue — · PAT — · OPM change 2.3 pp 19% evidence 20.9/25 ROCE 51.2% · OPM 17.2% 95% evidence 10.4/20 P/E 26.1× · PEG — 15% evidence 8.2/20 RS sector -2.4% · RS bench -16.3% · 1Y -16.7%5 of 10 weeks ahead 70% evidence
Exact sum: 20.3 + 20.9 + 10.4 + 8.2 = 59.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

15 · Frequently asked questions

Frequently asked questions

What is Baazar Style Retail Ltd's share price today?

Baazar Style Retail Ltd trades at ₹271, +0.8% over the past year. The company is valued at ₹2,066 Cr. The stock sits at 18% of its 52-week range of ₹239–₹414, −13.7% versus its 200-day average. On the tape, the price is in a downtrend, 1 weeks in. — as of 31 July 2026.

What were Baazar Style Retail Ltd's latest quarterly results?

Baazar Style Retail Ltd reported revenue of ₹466 Cr and a net loss of ₹26.0 Cr for the Mar 26 quarter. Earnings per share were ₹−3.44. The operating margin was 10.0%, 2.0 pp lower than a year earlier. — as of 31 July 2026.

What is Baazar Style Retail Ltd's revenue?

Baazar Style Retail Ltd reported revenue of ₹466 Cr in the Mar 26 quarter, +35.1% year on year. For the full FY26 fiscal year, revenue was ₹1,841 Cr (+37.0%). Over the last 3 years revenue compounded at 32.7% a year. — as of 31 July 2026.

What is Baazar Style Retail Ltd's profit?

Baazar Style Retail Ltd earned ₹−26.0 Cr of net profit in the Mar 26 quarter. Full-year FY26 profit was ₹47.0 Cr. The operating margin ran 10.0% in the latest quarter. — as of 31 July 2026.

What is Baazar Style Retail Ltd's market cap?

Baazar Style Retail Ltd's market capitalisation is ₹2,066 Cr at a share price of ₹271. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 31 July 2026.

What is Baazar Style Retail Ltd's P/E ratio?

Baazar Style Retail Ltd trades at a P/E of 93.9×, at the 59th percentile of its own 2-year range, against a long-run median of 89.2×. This is a comparison with the stock's own history, not a value call — as of 31 July 2026.

Does Baazar Style Retail Ltd pay a dividend?

No — Baazar Style Retail Ltd has recorded a dividend payout of 0% of profit in each of its last 4 reported fiscal years, so there is no payout history to quote. That is a reading of the filed annual statements, not an estimate. — as of 31 July 2026.

Is Baazar Style Retail Ltd overvalued?

On its own history, Baazar Style Retail Ltd looks mid-range against its own history: its P/E of 93.9× sits at the 59th percentile of its 2-year range (long-run median 89.2×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 31 July 2026.

How is Baazar Style Retail Ltd performing?

Baazar Style Retail Ltd is in a downtrend, 1 weeks in. Against the NIFTY 500 it has been behind on a trailing-13-week view for 8 weeks. This describes what the data did, not a rating. — as of 31 July 2026.

Is Baazar Style Retail Ltd in an uptrend?

No — the price is in a downtrend (week 1 of stage 4), trading −13.7% versus its 200-day average and at 18% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 31 July 2026.

Is Baazar Style Retail Ltd beating the market?

Not lately — on a trailing-13-week view Baazar Style Retail Ltd is currently behind the NIFTY 500 (8 weeks and counting; last ahead the week of 2026-06-19), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 1.9 years the stock moved −32% against the NIFTY 500's +0% — behind the index over the full window. — as of 31 July 2026.

Will Baazar Style Retail Ltd's share price go up?

This page publishes no price forecast for Baazar Style Retail Ltd. What it measures instead: the share price is ₹271, the price is in a downtrend 1 weeks in. Its P/E of 93.9× sits at the 59th percentile of its own 2-year range. — as of 31 July 2026.

Who owns Baazar Style Retail Ltd?

Promoters hold 44.8% of Baazar Style Retail Ltd, foreign institutions 1.7%, domestic institutions 5.9% and the public 47.5% (latest quarter). The biggest move on the register over the last two years: Foreign institutions cut 4.8 points over 8 quarters. — as of 31 July 2026.

Does Baazar Style Retail Ltd have too much debt?

It carries real leverage — Baazar Style Retail Ltd's debt-to-equity is 2.21, and operating profit covers the interest bill 3×. FY26 borrowings were ₹995 Cr against equity of ₹450 Cr. Read the returns on this page with that leverage in mind — as of 31 July 2026.

What is Baazar Style Retail Ltd's capex?

Baazar Style Retail Ltd spent ₹848 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹111 Cr, with ₹12.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 31 July 2026.

What is Baazar Style Retail Ltd's cash flow?

Baazar Style Retail Ltd generated ₹126 Cr of operating cash flow in FY26 and ₹15.0 Cr of free cash flow after ₹111 Cr of capital spending. Reported profit that year was ₹47.0 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 31 July 2026.

Is Baazar Style Retail Ltd's profit real cash?

Yes — over the last 3 fiscal years, 346% of Baazar Style Retail Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹126 Cr against reported profit of ₹47.0 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 31 July 2026.

Where is Baazar Style Retail Ltd in its business cycle?

Baazar Style Retail Ltd's FY26 operating margin was 14.0%, against a 4-year band of 13.0%–15.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 10.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 31 July 2026.

What could break the Baazar Style Retail Ltd story?

The sharpest disagreement: annual EPS moved +220.4% against a +0.8% price move — the market has not yet caught up with the delivery. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 31 July 2026.

Is Baazar Style Retail Ltd a stock worth studying right now?

This is not investment advice. The machine read: Baazar Style Retail Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it. The sharpest open question: whether the price catches up with earnings that have already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 31 July 2026.

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