Narrative Update • Jul 28
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Indian (NIFTY) General Merchandise and Department Stores Industry Analysis
UpdatedAug 25, 2026
DataAggregated Company Financials
Companies9
- 7D6.3%
- 3M1.8%
- 1Y-22.5%
- YTD-0.04%
Over the last 7 days, the General Merchandise and Department Stores industry has risen 4.2%, driven by gains from Meesho of 5.8%. In the same time, Shoppers Stop was down 5.9%. In the past year, the industry is down 29%. As for the next few years, earnings are expected to grow by 56% per annum.
Industry Valuation and Performance
Has the Indian General Merchandise and Department Stores Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 25 Aug 2026 | ₹1.6t | ₹399.2b | -₹7,865,467,307.00 | 54.5x | -203.6x | 4x |
| Thu, 23 Jul 2026 | ₹1.6t | ₹429.0b | -₹5,568,262,307.00 | 52.6x | -279.1x | 3.6x |
| Sat, 20 Jun 2026 | ₹1.5t | ₹429.0b | -₹5,568,262,307.00 | 55.8x | -272.2x | 3.5x |
| Mon, 18 May 2026 | ₹1.6t | ₹422.3b | -₹8,083,258,807.00 | 51.7x | -195.2x | 3.7x |
| Wed, 15 Apr 2026 | ₹1.4t | ₹352.8b | -₹20,418,965,500.00 | 48.1x | -67x | 3.9x |
| Fri, 13 Mar 2026 | ₹1.2t | ₹352.7b | -₹20,439,375,307.00 | 37.9x | -59.8x | 3.5x |
| Sun, 08 Feb 2026 | ₹1.4t | ₹351.5b | -₹20,526,943,307.00 | 43.9x | -67.1x | 3.9x |
| Tue, 06 Jan 2026 | ₹1.6t | ₹385.3b | -₹16,508,855,307.00 | 55.9x | -98.4x | 4.2x |
| Thu, 04 Dec 2025 | ₹806.5b | ₹278.7b | ₹4.8b | 53.5x | 168.5x | 2.9x |
| Sat, 01 Nov 2025 | ₹884.1b | ₹274.5b | ₹5.4b | 97.2x | 164.1x | 3.2x |
| Mon, 29 Sep 2025 | ₹813.7b | ₹225.4b | ₹5.2b | 85.4x | 157.6x | 3.6x |
| Wed, 27 Aug 2025 | ₹866.5b | ₹221.3b | ₹5.2b | 87.3x | 167.8x | 3.9x |
| Fri, 25 Jul 2025 | ₹810.7b | ₹216.5b | ₹7.9b | 99.2x | 103x | 3.7x |
| Sun, 22 Jun 2025 | ₹822.8b | ₹262.8b | ₹8.0b | 96.7x | 103x | 3.1x |
| Tue, 20 May 2025 | ₹788.0b | ₹258.2b | ₹10.7b | 56x | 73.4x | 3.1x |
| Thu, 17 Apr 2025 | ₹633.6b | ₹206.0b | ₹9.5b | 18.6x | 66.6x | 3.1x |
| Sat, 15 Mar 2025 | ₹581.1b | ₹206.0b | ₹9.5b | 25x | 61.1x | 2.8x |
| Mon, 10 Feb 2025 | ₹675.8b | ₹205.9b | ₹9.5b | 33.1x | 71.1x | 3.3x |
| Wed, 08 Jan 2025 | ₹780.1b | ₹245.1b | ₹12.3b | 50.2x | 63.7x | 3.2x |
| Fri, 06 Dec 2024 | ₹279.8b | ₹148.0b | ₹7.0b | 25.7x | 39.7x | 1.9x |
| Sun, 03 Nov 2024 | ₹297.1b | ₹148.7b | ₹10.8b | 42.2x | 27.4x | 2x |
| Tue, 01 Oct 2024 | ₹316.5b | ₹146.7b | ₹11.0b | 45.9x | 28.8x | 2.2x |
| Thu, 29 Aug 2024 | ₹301.5b | ₹146.7b | ₹11.0b | 50.5x | 27.4x | 2.1x |
| Sat, 27 Jul 2024 | ₹288.5b | ₹135.6b | ₹3.9b | 45.1x | 73.8x | 2.1x |
| Mon, 24 Jun 2024 | ₹281.3b | ₹134.8b | ₹4.3b | 48.6x | 66x | 2.1x |
| Wed, 22 May 2024 | ₹266.0b | ₹132.7b | ₹3.7b | 68.9x | 72.7x | 2x |
| Fri, 19 Apr 2024 | ₹171.2b | ₹88.4b | ₹2.9b | 27.2x | 59.2x | 1.9x |
| Sun, 17 Mar 2024 | ₹160.7b | ₹88.4b | ₹2.9b | 26.4x | 55.6x | 1.8x |
| Tue, 13 Feb 2024 | ₹180.8b | ₹88.4b | ₹2.9b | 29.2x | 62.6x | 2x |
| Thu, 11 Jan 2024 | ₹256.5b | ₹123.2b | ₹1.5b | 77.9x | 169.2x | 2.1x |
| Sat, 09 Dec 2023 | ₹245.1b | ₹123.2b | ₹1.5b | 78.3x | 161.6x | 2x |
| Mon, 06 Nov 2023 | ₹203.1b | ₹120.3b | ₹1.7b | 71.1x | 122.8x | 1.7x |
| Wed, 04 Oct 2023 | ₹138.2b | ₹79.3b | ₹711.6m | 46.2x | 194.2x | 1.7x |
| Fri, 01 Sep 2023 | ₹147.7b | ₹79.3b | ₹711.1m | 48.5x | 207.7x | 1.9x |
Price to Earnings Ratio
207.7x
Current Industry PE
- Investors are optimistic on the Indian Multiline Retail industry, and appear confident in long term growth rates.
- The 3-year average PS ratio of 2.8x is lower than the industry's current PS ratio of 3.9x.
Past Earnings Growth
- Total earnings for the Multiline Retail industry have declined over the last three years, with the industry now making a loss overall.
- Meanwhile revenues have grown 71% per year.
- This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.
Industry Trends
Which industries have driven the changes within the Indian Consumer Discretionary industry?
| IN Market | -0.11% | |
| Consumer Discretionary | 0.56% | |
| General Merchandise and Department Stores | 6.29% | |
| Broadline Retail | 6.29% | |
| Department Stores | 0% | 0 |
| General Merchandise Stores | 0% | 0 |
Industry PE
Forecasted Growth
- Analysts are most optimistic on the Broadline Retail industry, expecting annual earnings growth of 56% over the next 5 years.
- This is better than its past earnings growth rate of 44% per year.
- In contrast, the Broadline Retail industry is expected to see its earnings grow by 56% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| MEESHO Meesho | ₹206.32 | 6.9% +₹61.8b | n/a | PS6.9x | |
| VMM Vishal Mega Mart | ₹112.50 | 8.5% +₹41.1b | -26.5% | PE59x | |
| VMART V-Mart Retail | ₹862.15 | 6.5% +₹4.2b | 16.6% | PE49.8x | |
| 524622 iStreet Network | ₹54.99 | 22.8% +₹727.7m | 180.3% | PE96.3x | |
| ROCKINGDCE Rockingdeals Circular Economy | ₹238.90 | 47.7% +₹640.7m | 5.2% | PE19.6x |