Baazar Style Retail reports 37 percent revenue increase for financial year 2026

Indian value fashion retail chain Baazar Style Retail Limited, known as Style Baazar, has announced a strong financial and operational performance for the financial year 2026 (FY26). The results reflect growing demand for affordable fashion alongside the company expansion, brand building and operational focus.

Revenue from operations for FY26 rose 37 percent year-over-year (YoY) to 18,409 million rupees, while EBITDA increased 40 percent to 2,641 million rupees. Profit after tax (PAT) grew 220 percent YoY to 469 million rupees.

The company continued an aggressive expansion strategy during the year, increasing its store network to 263 stores from 214 stores in the financial year 2025.

Private labels drive financial year growth

One of the strongest drivers of growth during FY26 was the rising contribution of private labels. Private label revenue grew 62 percent YoY to 9,770 million rupees, with its contribution to overall revenue increasing to 53 percent from 45 percent in the previous year.

The company also reported strong traction in its focus markets, where revenues increased 57 percent YoY to 3,248 million rupees. Management noted that the differentiated proposition of delivering ‘style for the entire day at 1,000 rupees’ continues to resonate with value-conscious consumers across Tier 2 and Tier 3 cities, while gaining traction among younger consumers in Tier 1 markets.

Strategic investment supports long-term expansion

FY26 marked a strategic milestone for the company with an investment commitment of 3.32 billion rupees from Indian manufacturing firm Cupid Limited through a preferential issue of equity warrants. Of this total, 1.20 billion rupees has already been received. The investment is expected to support future store expansion, strengthen the balance sheet and help the company diversify into the personal care and wellness category.

Looking ahead, the company remains optimistic about growth opportunities in the underpenetrated Indian value retail market. Supported by expansion plans, strengthening brand equity and improving consumer demand, the company is targeting 25 percent revenue growth and same-store sales growth of 7 percent to 8 percent in the financial year 2027, with plans to scale its network to between 450 and 500 stores over the next three years.