Baazar Style Retail FY26 revenue hits ₹1,842.1 crore

What the company reported for FY26

Baazar Style Retail Ltd (BSRL) reported its highest-ever standalone revenue from operations for the financial year ended March 31, 2026. The Kolkata-headquartered value fashion retailer said FY26 standalone revenue rose to ₹1,842.1 crore, a 37% year-on-year increase from ₹1,343.5 crore in FY25. The company also said it exceeded its internal guidance for the year. Management linked the performance to sustained demand in the Eastern India market.

Alongside the full-year update, the company reported strong revenue momentum in the March quarter. Standalone revenue from operations for Q4 FY26 was disclosed at ₹466.2 crore, up 35% year-on-year. The March quarter number aligns closely with the standalone quarterly financial table that showed net sales of ₹465.71 crore.

Q4 FY26 standalone quarterly performance: sales, loss, EBITDA

For the quarter ended March 2026, Baazar Style Retail’s standalone net sales were reported at ₹465.71 crore, up from ₹345.32 crore in March 2025. While revenue expanded sharply, profitability remained under pressure. The company reported a standalone net loss of ₹25.64 crore in March 2026 compared with a net loss of ₹6.40 crore in March 2025.

Operating profitability improved on an EBITDA basis. Standalone EBITDA stood at ₹50.10 crore in March 2026 versus ₹41.69 crore in March 2025. The quarterly table also showed net sales of ₹466.46 crore for December 2025, broadly flat sequentially versus March 2026.

Consolidated Q4 numbers were similar to standalone

Baazar Style Retail also disclosed consolidated quarterly numbers for the same period, which were broadly in line with standalone. Consolidated net sales for March 2026 were reported at ₹465.71 crore, compared with ₹345.37 crore in March 2025. Consolidated EBITDA for March 2026 stood at ₹50.09 crore, up from ₹41.69 crore a year earlier.

The consolidated net loss for March 2026 was reported at ₹25.65 crore, compared with ₹6.39 crore in March 2025. The consolidated quarterly table showed net sales of ₹466.48 crore for December 2025.

Store expansion and same-store sales growth

BSRL’s growth in FY26 was supported by a larger store network. As of March 31, 2026, the company operated 263 stores, up from 214 stores a year earlier, a 23% increase in store count. The company also disclosed Same Store Sales Growth (SSSG) of 3% for FY26 and 8% for Q4 FY26.

These metrics indicate that growth was not only driven by new store additions, but also supported by positive same-store performance in the March quarter. However, the quarterly net loss shows that higher sales and EBITDA did not translate into quarterly profitability.

Additional operating highlights disclosed for FY26

In another set of operating highlights provided in the material, BSRL reported that Q2 FY26 revenue rose 71% year-on-year to ₹532 crore. It also reported H1 FY26 revenue of ₹910 crore, up 55% year-on-year. For profitability, the company disclosed Q2 FY26 EBITDA of ₹69 crore (IndAS) and ₹33 crore (pre-IndAS), and H1 FY26 EBITDA of ₹127 crore (IndAS) and ₹58 crore (pre-IndAS).

The same highlights stated Q2 FY26 gross profit of ₹162 crore, up 76% year-on-year, with a gross margin of 31%. For H1 FY26, gross profit was reported at ₹298 crore, up 63% year-on-year.

Stock close and what investors will focus on

Baazar Style shares closed at ₹389.60 on May 14, 2026 (NSE), as per the provided data. With FY26 revenue at a record high and store count rising, investors are likely to track how operating leverage evolves as the footprint expands. The March quarter results highlighted the key tension in the numbers: strong top-line growth and higher EBITDA, but a wider net loss compared with the year-ago quarter.

The sequential sales trend also matters. Quarterly net sales of around ₹466 crore in both December 2025 and March 2026 suggest Q4 growth was largely year-on-year rather than driven by a sharp quarter-on-quarter jump.

Key numbers at a glance

Standalone vs consolidated quarterly snapshot (March quarter)

Why these results matter

The FY26 revenue figure of ₹1,842.1 crore sets a new benchmark for BSRL and confirms strong demand through the year, especially in its stated core geography of Eastern India. But the quarterly loss numbers highlight that scale alone does not remove pressure on net profitability. For readers tracking retail businesses, the combination of store additions, positive SSSG, and higher EBITDA alongside a wider net loss is an important signal to watch in subsequent quarters.

The company has also provided a mix of IndAS and pre-IndAS EBITDA for Q2 and H1 FY26, which signals that stakeholders may need to read operating disclosures carefully when comparing periods. For the near term, the next set of quarterly results and updates on operating metrics such as SSSG and store additions are likely to remain key reference points.

Conclusion

Baazar Style Retail ended FY26 with record standalone revenue of ₹1,842.1 crore, supported by 35% year-on-year growth in Q4 revenue and an expanded store base of 263 outlets as of March 31, 2026. The March quarter also showed higher EBITDA, but a wider net loss versus the year-ago period. Future updates on profitability alongside store expansion and same-store sales trends will shape how the market interprets the company’s growth trajectory.