SS Retail Limited
PROSPECTUS · filed 21 Sept 2026
SS Retail Limited is a retailer of mobile phones and electronic accessories, with a significant portion of its revenue derived from the state of Maharashtra. The company is structuring the offer as a fresh issue of 360.0 crore, with no offer for sale component. The company has demonstrated a strong financial trajectory with a return on equity of 30.6% and a debt-to-equity ratio of 0.7. The most material risks include high revenue concentration from mobile phones, high supplier concentration, and high geographic concentration in Maharashtra.
What stands out
Risk factor. We derive a significant portion of our revenue from operations from retailing mobile phones, which accounted for 86.18%, 87.58% and 88.31% of our revenue from operations during Fiscal 2026, 2025 and 2024, respectively.
Risk factor. We are significantly reliant on our arrangements with top 10 Suppliers for procuring mobile phones, accessories and other electronic items, with the amount of purchase of traded goods from our top 10 Suppliers being 79.09%, 89.42% and 88.38% of our purchase of traded goods during Fiscal 2026, Fiscal
Risk factor. We derive a significant portion of our revenue from operations from our stores in the state of Maharashtra, which accounted for 89.09%, 92.32% and 94.07% of our revenue from operations during Fiscal 2026, Fiscal 2025 and Fiscal 2024, respectively.
Primarily fresh capital. 100% of the offer is fresh issue, so most proceeds fund the company.
Healthy return on equity. ROE of 30.6%.
How the offer is structured
Fresh issue
₹360 Cr
New capital into the company
OFS share
0%
- Funding capital expenditure for Fit Outs towards setting up of new stores in Fiscal 2027 and Fiscal 2028
- Part funding of the incremental working capital requirements of our Company
- General corporate purposes
Promoters, litigation & related parties
Promoter (pre)
75.7%
Related-party
0.0%
Share of revenue
Except as stated in this section, there are no outstanding (a) criminal proceedings (including first information reports even if no cognizance has been taken by any court) involving our Company, Subsidiaries, Directors, Promoters, Key Managerial Personnel and members of Senior Management; (b) actions (including all penalties and show cause notices) by any statutory or regulatory authorities involving our Company, Subsidiaries, Directors, Promoters, Key Managerial Personnel and members of Senior Management; (c) disciplinary action including penalty imposed by SEBI or stock exchanges against our Promoters in the last 5 Fiscals including outstanding action; (d) claim involving our Company, Subsidiaries, Directors or Promoters for any direct or indirect tax liabilities (disclosed in a consolidated manner giving the total number of claims and total amounts involved); and (e) other pending civil litigations including arbitration involving our Company, Subsidiaries, Directors, Promoters (other than proceedings covered under (a) to (d) above) which have been determined to be material pursuant to the materiality policy approved by our Board in its meeting held on December 27, 2025 (Materiality Policy) (as disclosed herein below).
Risks the company discloses
We derive a significant portion of our revenue from operations from retailing mobile phones, which accounted for 86.18%, 87.58% and 88.31% of our revenue from operations during Fiscal 2026, 2025 and 2024, respectively.(Revenue Concentration)
We are significantly reliant on our arrangements with top 10 Suppliers for procuring mobile phones, accessories and other electronic items, with the amount of purchase of traded goods from our top 10 Suppliers being 79.09%, 89.42% and 88.38% of our purchase of traded goods during Fiscal 2026, Fiscal 2025 and Fiscal 2024, respectively.(Supplier Concentration)
We are significantly reliant on our arrangements with top 10 Suppliers for procuring mobile phones, accessories and other electronic items, and we typically do not enter into long-term agreements with our Suppliers, purchasing products based on purchase orders.(Supply Chain)
We derive a significant portion of our revenue from operations from our stores in the state of Maharashtra, which accounted for 89.09%, 92.32% and 94.07% of our revenue from operations during Fiscal 2026, Fiscal 2025 and Fiscal 2024, respectively.(Geographic Concentration)
We derive a significant portion of our revenue from operations from our stores in the state of Maharashtra, which constituted 91.05% of our total stores as of March 31, 2026.(Geographic Concentration)
We are subject to risks arising from changes in political, social and economic conditions of Maharashtra which could have an adverse effect on our business, financial condition, result of operations and cash flow.(Geographic Concentration)
We also purchase and sell pre-owned smartphones under our ‘Mobile Exchange Wala’ brand.(Business Model)
We also sell mobile phones in wholesale through our Company, and accessories through one of our Subsidiaries i.e., Nexora (collectively, ‘Corporate Sales’).(Business Model)
How this document reads, dimension by dimension
Each bar is a fixed formula applied to the figures shown above, scored 0–100. This is a reading of what the company disclosed — not a recommendation to apply or avoid, not a price target, and not a prediction of listing performance. Dimensions that could not be extracted are excluded rather than assumed, so coverage varies between documents.

