SS Retail Q1 Results: Newly listed shares surged over 19% on Wednesday, October 14, after the recently listed mobile retailer reported strong financial performance for the quarter ended June 2026 (Q1FY27).
The company’s performance was supported by healthy same-store sales, higher average selling prices of mobile phones and continued expansion of its retail network.
The earnings announcement comes shortly after its stock market debut during which the shares listed at a substantial premium to their issue price. The stock has now climbed nearly 95% above its IPO price of ₹424, reflecting the strong gains since listing.
SS Retail shares jumped 19.5% to ₹828.30 on Wednesday, October 14, following the company’s earnings announcement. The stock has gained 11% over the past week. SS Retail shares touched a 52-week high of ₹888 on September 24, 2026, after hitting a low of ₹603 on September 23, the listing day.
The stock made a strong debut on September 23, 2026, listing at ₹639.10 on the BSE, a premium of 50.73% over its issue price. On the NSE, the shares listed at ₹624, representing a premium of 47.17%.
Key Q1 results highlights
The company reported that its profit after tax (PAT) increased 61% to ₹23.8 crore. Meanwhile, its consolidated revenue came in at ₹789.7 crore for Q1FY27, marking a 59% year-on-year (YoY) increase. Earnings before interest, tax, depreciation and amortisation (EBITDA) also rose 51% YoY to ₹45.4 crore.
Gross margin improved by 53 basis points YoY to 12.8%. However, the EBITDA margin declined by 31 basis points to 5.8%, despite growth in revenue and operating profit.
Commenting on the company’s first results announcement since its listing, Siddharth Shah, founder, chairman and managing director of SS Retail, said, “Our first results announcement since listing marks an exciting new chapter for SS Retail, with record-high revenue, EBITDA and PAT, growing 59%, 51% and 61% YoY, respectively. Building on this strong performance, we are targeting 750 stores by FY28 and 2x revenue growth over the FY26 base, backed by India’s significant organised mobile retail opportunity.”
SS Retail attributed its revenue growth to higher average selling prices of mobile phones, healthy same-store sales and continued store additions. Same-store sales growth stood at 34% in Q1FY27, reflecting strong demand across its existing retail network. The company added 33 stores during the quarter, taking its retail footprint to 536 stores across five states, with a cumulative retail area of 2.8 lakh square feet.
SS Retail expansion plans
SS Retail’s expansion strategy includes a combination of company-operated and franchise-led outlets. During Q1FY27, company-owned and company-operated stores contributed 20% of revenue, the Company-Owned, Franchise-Operated (COFO) model contributed 72%, and the Franchise-Owned, Franchise-Operated (FOFO) model accounted for 8%. The partner-led COFO model supports faster expansion, while inventory ownership remains with the company.
Shah added, “As we scale, improved store productivity and operating leverage are expected to drive incremental EBITDA margin expansion, translating into stronger PAT margins and profitable growth. Opportunities across pre-owned devices, accessories and financing further strengthen our growth runway as we build SS Retail into a scalable consumer technology platform focused on accelerating growth, expanding profitability and creating sustainable long-term value.”
The retailer also maintained inventory days at 47 despite acquisitions, business growth and expansion into new markets.
SS Retail IPO Details
SS Retail completed its initial public offering (IPO) after the June quarter ended. The issue was priced at ₹424 per share and comprised a fresh issue of 85,04,075 shares worth ₹360 crore and an offer for sale of 33,01,884 shares worth ₹140 crore by existing shareholders.
The IPO bidding opened on September 16, 2026, and closed on September 18. The allotment was finalised on September 21, and the shares were listed on the NSE and BSE on September 23. The SS Retail IPO concluded its bidding period with an overwhelming response, achieving an overall final subscription of 107.41 times.
The company said the ₹500 crore , including the ₹360 crore fresh issue, would fund the addition of 115 stores and meet working capital requirements. It had started deploying the proceeds for the purposes specified in its prospectus, with a portion of the net proceeds temporarily deposited with scheduled commercial banks.
SS Retail operates a multi-brand retail chain selling mobile phones, accessories and other electronic products through formats including SS Mobile, The Mobile Space and Mobile Exchange Wala. Its operations span Maharashtra, Karnataka, Madhya Pradesh, Goa and Gujarat.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.