Company lists
The Maharashtra edition · 2026

Retail chainscompanies in Maharashtra

Fashion & apparel, supermarkets, electronics, jewellery & accessories, footwear and more: the companies building retail chains in Maharashtra, with their founders, funding, team size and business models.

114 company profiles43 with reported revenue6 with recorded fundingOctober 2026 edition
Maharashtra · Photo: Wikimedia Commons (Creative Commons Attribution-ShareAlike 4.0)

Recent retail chains business events in India

Funding, M&A, contract wins and launches involving 658 retail chains companies in India, last 24 months: 45 M&A deals · 15 funding rounds · 14 Contracts · 10 launches. Newest first; companies and investors link to their Fliar profiles. Latest event in our news feed: Jun 2026.

ContractSupply

Sbc exports · client: HUXXE Readymade Garments Trading LLC

SBC Exports has secured an export order worth around Rs 18 crore from M/s HUXXE Readymade Garments Trading LLC. The order is for supply of various Garment articles including T-Shirts,…

Textiles
ContractService

BrandMan Retail · client: Skechers India

Skechers India has selected Brandman Retail as an authorized reseller to manage its business across online marketplaces including Amazon, Flipkart, Myntra, Ajio, Tata CLiQ, and Nykaa…

Retail
M&AAcquisition · Completed

Reliance retail acquires Anomaly Haircare

Reliance Retail Limited has acquired Anomaly Haircare, the brand launched by Priyanka Chopra Jonas.

Beauty/Haircare
M&AAcquisition · Completed

Reliance retail acquires Anomaly

Reliance Retail has acquired Anomaly, the global haircare brand founded by actor and entrepreneur Priyanka Chopra Jonas.

Beauty
LaunchDigital Discount Days

Reliance digital

Reliance Digital has announced the continuation of its nationwide Digital Discount Days campaign, now active until April 19, 2026.

Retail promotion
Funding

Style baazar

Cupid Limited (BSE: 530843 | NSE: CUPID), has made the payment of ₹82.88 crore, representing 25% of its total planned investment of ₹331.53 crore in Baazar Style Retail Limited (Style…

Investors Cupid limited
M&AAcquisition · Announced

Accord Business Solutions acquires Future group

Inverness-based IT solutions provider Accord Business Solutions has taken a “significant stake” multi-service solutions provider Future Group.

Multi-service solutions provider
M&AAcquisition · Announced

Croma acquires Southern Security Services Limited

Hampshire-headquartered Croma is paying a total of £550,000 to buy Southern Security Services Limited (SSS).

Electronic security
M&AAcquisition · Announced

Government of Singapore acquires Vishal mega mart

The Government of Singapore and HDFC Mutual Fund acquired promoter stakes worth Rs 1,485 crore and Rs 1,100 crore, respectively, in Vishal Mega Mart through separate bulk deals on Friday.

Fashion-led hypermarket chain
M&AAcquisition · Announced

Hdfc mutual fund acquires Vishal mega mart

The Government of Singapore and HDFC Mutual Fund acquired promoter stakes worth Rs 1,485 crore and Rs 1,100 crore, respectively, in Vishal Mega Mart through separate bulk deals on Friday.

Fashion-led hypermarket chain
M&AAcquisition · Completed

Johnson Dye Works acquires Praxis home retail

Johnson Dye Works has acquired 10 lakh shares (0.53 percent stake) in Praxis Home Retail at Rs 8.53 per share from New Era Fabrics, amounting to Rs 85.3 lakh.

M&AAcquisition · Announced

Future group acquires Alfred

Future Group, a York-headquartered marketing group, has acquired PR and Social agency, Alfred.

Communications and digital marketing
LaunchLimitless Aptronix Exchange

Aptronix

Aptronix has launched a new device exchange program called Limitless Aptronix Exchange.

Device Exchange Program
M&AAcquisition · Announced

Senco Gold acquires August Jewellery Private Limited (AJPL)

Through the transaction, Senco Gold will acquire 68% stake in AJPL, with the acquisition expected to be completed by April 30, 2026, after which AJPL will operate as a subsidiary of the…

Jewellery
M&AAcquisition · Announced

Senco Gold acquires August

Senco Gold Limited on Wednesday said its board has approved an investment of Rs 68 crore to acquire a 68% equity stake in August Jewellery Private Limited...

Gems and Jewellery
FundingSeries B

Heads up for tails

Premium pet care brand Heads Up For Tails (HUFT) is close to closing a $25 million Series B funding round, marking a significant milestone in its growth journey. The round is being led…

Investors Nilesh Ved, Indian arm of Dubai-based retail giant Apparel Group
Pet care
M&AAcquisition · Completed

Gmr airports limited acquires Delhi Duty Free Services

GMR Airports Limited has completed a strategic acquisition of 49.90% equity stake in Delhi Duty Free Services Private Limited (DDFS) from Delhi International Airport Limited (DIAL),…

Duty-free retail
M&AAcquisition · Announced

Dätwyler acquires Capsul

Altdorf – The industrial group Dätwyler takes over the majority of Capsul With the acquisition of a 51 percent stake in the supplier of aluminium coffee capsules based in Luxembourg and…

Consumer Goods
M&AMerger · Announced

Trent acquires Fiora Online Ltd

Trent informed the exchanges that NCLT has approved the amalgamation of the two step-down subsidiaries of the company i.e. Fiora Hypermarket Ltd (amalgamating company) with Fiora Online…

ContractSupply

Sbc exports · client: HUXXE Readymade Garments Trading LLC

SBC Exports Ltd engaged in garment manufacturing & trading announced receiving a repeat order of Rs.45cr. from a textile firm ie.,HUXXE Readymade Garments Trading LLC, for the supply of…

Garments
ContractService

Zaggle Prepaid Ocean Services · client: V-mart retail

Zaggle Prepaid Ocean services ltd. engaged in delivering fintech solutions has announced receiving a new work order from V-Mart Retail Ltd for providing Zaggle Zoyer Platform, a business…

Retail
FundingQualified Institutional Placement

V2 retail

Value retail chain V2 Retail Ltd on Monday announced the successful completion of its qualified institutional placement , raising ₹399.99 crore through the allotment of 18.74 lakh equity…

Investors Motilal Oswal Small Cap Fund and related funds, Subhkam Ventures, Malabar India Fund Limited, Edelweiss
Value retail chain
ContractSupply

Bizotic · client: Osia hyper retail

The first purchase order from Osia Hyper Retail Limited constitutes the largest portion of the total, valued at around Rs. 66 crore. It includes 10,00,000 meters of fabric, 2,75,000…

M&AAcquisition · Completed

Kalyan jewellers acquires Singularity strategic

Kalyan Jewellers acquired an 85% stake in 2017 from Singularity Strategic, the family office of Brijesh Chandwani and Subram Kapoor, for Rs 35–40 crore.

Contract

Future group · client: Reliance industries

Here’s some size and scope to put the Reliance Industries-Future Group deal in perspective:

Retail
FundingSeries A

Apna mart

Accel's investments in India's consumption sector include Bengaluru-based grocery chain Apna Mart, starting with a $10-million Series A investment in 2023.

Investors Accel
Grocery
Funding

Heads up for tails

Heads Up For Tails: Raised around ₹ 277 crore in August 2021 in a funding round led by Verlinvest and Sequoia Capital India

Investors Verlinvest, Sequoia Capital India
FundingSeries B

Citykart

Citykart has raised a total funding of $29M over 2 round s . Its first funding round was on Jan 24, 2019 . Its latest funding round was a Series B round on May 23, 2025 for $ ***** . 2…

Retail chain offering clothes for men, women, and children
FundingSeries B

Genesis luxury

Here is the list of recent funding rounds of Genesis Luxury : Date of Funding Funding Amount Round Name Post-Money Valuation Revenue Multiple Lead Investors Other Investors 2011 1234…

International luxury brand franchisee
M&AMerger · Announced

Reliance Brands acquires Reliance retail

Reliance Retail’s luxury brand arm Reliance Brands aims to merge itself with its parent to avoid duplication of work and consolidate overlapping functions, according to sources within…

Retail chains companies in Maharashtra, by revenue

Browse retail chains companies in Maharashtra by reported revenue, one-year revenue growth, revenue model, age and stage. The 43 companies below are the largest by their most recent reported revenue among 43 retail chains companies in Maharashtra that have filed a figure in the last four years. Every figure keeps its own reporting period, so compare periods before comparing amounts.

Showing 25 of 43

Retail chain offering diversified products

Retail chains
₹271,227.00 crFY 2024-25
+5%2024–2025
72,846-91% 12 mo to Sep 2024LinkedIn · Jul 2026
20 yr2006
19postings · last posted Sep 2026

Retail chain of multi-category products

Retail chains
₹50,935.28 crFY 2023-24
Not reported
22,107+20% 12 mo to Jul 2024LinkedIn · Jul 2026
24 yr2002
17postings · last posted Sep 2026

Retail chain of consumer electronics and durable goods

Retail chains
₹19,228.02 crFY 2024-25
+7%2024–2025
10,146-2% 12 mo to Sep 2024LinkedIn · Jul 2026
20 yr2006
7postings · last posted Sep 2026

Retail chain of premium lifestyle apparels

Retail chains
₹14,233.44 crFY 2023-24
Not reported
14,626-5% 12 mo to Mar 2024LinkedIn · Jul 2026
29 yr1997
0none in 3 months

Multi Brand Premium Fashion Retailer

Retail chains
₹12,534.36 crFY 2022-23
Not reported
2,935-37% 12 mo to Jul 2024LinkedIn · Jul 2026
29 yr1997
0none in 3 months

Operator of supermarkets and online grocery services

Retail chains
₹4,691.79 crFY 2024-25
Not reported
1,566LinkedIn · Jul 2026
19 yr2007
0none in 3 months

Retailer of large format fashion and lifestyle products

Retail chains
₹4,372.41 crFY 2023-24
Not reported
11,582+0% 12 mo to Mar 2024LinkedIn · Jul 2026
35 yr1991
5postings · last posted Sep 2026

Online platform offering doorstep delivery of groceries and home essentials at competitive prices

Retail chains
₹3,507.03 crFY 2024-25
+21%2024–2025
—Not available
9 yr2017
0none in 3 months · last posted Jul 2026

Retail chain of fashion and clothing products

Retail chains
₹2,738.14 crFY 2021-22
Not reported
954-42% 12 mo to Mar 2022LinkedIn · Jul 2026
14 yr2012
0none in 3 months

Retail chain of electronic products

Retail chains
₹3,065.53 crFY 2024-25
+15%2024–2025
937+115% 12 mo to Aug 2024recorded Aug 2024
24 yr2002
0none in 3 months

Mobile retail chain offering a wide range of mobile devices and accessories

Retail chains
₹1,599.96 crFY 2024-25
+32%2024–2025
472+18% 12 mo to Sep 2024recorded Sep 2024
22 yr2004
0none in 3 months · last posted Jul 2026

Retailer of fashion accessories

Retail chains
₹1,241.02 crFY 2024-25
+7%2024–2025
1,114+12% 12 mo to Sep 2024LinkedIn · Jul 2026
22 yr2004
0none in 3 months · last posted Jun 2026

Franchise of international brand.

Retail chains
₹516.13 crFY 2022-23
Not reported
107-32% 12 mo to Oct 2023LinkedIn · Jul 2026
75 yr1951
—No postings tracked

Provider of online and offline retail for home, kitchen, and wellness

Retail chains
₹416.93 crFY 2024-25
+35%2024–2025
223LinkedIn · Jul 2026
11 yr2015
0none in 3 months

Retailer of electronic appliances and accessories

Retailers
₹358.63 crFY 2022-23
Not reported
59+39% 12 mo to Sep 2024LinkedIn · Jul 2026
59 yr1967
2postings · last posted Aug 2026

Time Watches is a authorized retailer offering a wide range of premium watch brands

Retail chains
₹364.09 crFY 2024-25
+39%2024–2025
436-91% 12 mo to Dec 2019LinkedIn · Jul 2026
20 yr2006
0none in 3 months · last posted Jun 2026

Retail chain for luxury and designer apparel and accessories

Retail chains
₹288.66 crFY 2024-25
+10%2024–2025
524+32% 12 mo to Sep 2024LinkedIn · Jul 2026
21 yr2005
2postings · last posted Sep 2026

Retail chain of apple products and accessories with exclusive offers and cashback options

Retail chains
₹275.82 crFY 2024-25
-45%2024–2025
186LinkedIn · Jul 2026
21 yr2005
0none in 3 months · last posted Apr 2026

Retail store of cookware & cutlery

Retail chains
₹158.12 crFY 2024-25
-30%2024–2025
448-47% 12 mo to Sep 2024recorded Sep 2024
19 yr2007
2postings · last posted Sep 2026

Internet first brand of jewelry

Fashion accessories
₹123.64 crFY 2022-23
Not reported
119LinkedIn · Jul 2026
117 yr1909
0none in 3 months

Streetwear brand with skateboarding at its roots, offering footwear, apparel, and skateboarding gear

Retail chains
₹121.52 crFY 2024-25
-3%2024–2025
95-33% 12 mo to Sep 2024LinkedIn · Jul 2026
13 yr2013
0none in 3 months

Brand of eyewear

Fashion accessories
₹98.46 crFY 2022-23
Not reported
94-3% 12 mo to Sep 2024LinkedIn · Jul 2026
49 yr1977
1postings · last posted Aug 2026

Retailer of women's ethnic wear, traditional fabrics, and designer clothing

Apparel brands
₹92.37 crFY 2023-24
Not reported
11-40% 12 mo to Aug 2024LinkedIn · Jul 2026
22 yr2004
0none in 3 months

Retail stores of apparels for men and women

Retail chains
₹81.93 crFY 2021-22
Not reported
121-71% 12 mo to Feb 2024recorded Feb 2024
28 yr1998
—No postings tracked

Online retailer offering beauty products

Retail chains
₹81.03 crFY 2024-25
+55%2024–2025
17LinkedIn · Jul 2026
22 yr2004
0none in 3 months
43 of 114 companies shown here · the full list is on Radar
Fliar Radar

Explore all 114 retail chains companies in Maharashtra on Radar

This page shows the top 43. Radar has the complete, filterable list with contacts and live company signals.

Open retail chains in Maharashtra on Radar
  • Every company, not just 50All 114 retail chains companies in Maharashtra, filterable by stage, funding, team size, revenue model and age.
  • Founders and decision-makersLeadership teams with roles and verified LinkedIn profiles, ready for outreach.
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Explore retail chains companies in Maharashtra by what you are looking for

Discover top retail chains companies in Maharashtra, from supermarkets and electronics stores to fashion and footwear chains. Find retail startups in Maharashtra, listed retailers and companies hiring in Maharashtra.

9 ways to explore retail chains in Maharashtra

Fashion & apparel retail chainsSupermarket & convenience store chainsConsumer electronics retail chainsJewellery, watches, eyewear & fashion accessoriesFootwear retail chains & brandsHome furnishing, beauty & lifestyle retail chains

Fashion & apparel retail chains

Retail chains and brands selling clothing for men, women and kids.

  1. ABFRL

    Retail chain of premium lifestyle apparels

    Retail chains
    See in list
  2. Future Lifestyle Fashions

    Retail chain of fashion and clothing products

    Retail chains
    See in list
  3. Aza Fashions

    Retail chain for luxury and designer apparel and accessories

    Retail chains
    See in list
  4. Tirumala Designers

    Retailer of women's ethnic wear, traditional fabrics, and designer clothing

    Apparel brands
    See in list
  5. Superkicks

    Premium sneaker and streetwear store offering genuine sneakers, apparel, and exclusive drops from brands like Nike

    Fashion tech
    See in list

Supermarket & convenience store chains

Multi-category supermarket, hypermarket and convenience store chains.

  1. DMart

    Retail chain of multi-category products

    Retail chains
    See in list
  2. More Store

    Operator of supermarkets and online grocery services

    Retail chains
    See in list
  3. Cravatex

    Franchise of international brand.

    Retail chains
    See in list
  4. Frootle

    Provider of online and offline retail for home, kitchen, and wellness

    Retail chains
    See in list
  5. Kohinoor Electronics

    Retailer of electronic appliances and accessories

    Retailers
    See in list

Consumer electronics retail chains

Retail chains selling electronics, appliances and mobiles.

  1. Croma

    Retail chain of consumer electronics and durable goods

    Retail chains
    See in list
  2. Unicorn

    Retail chain of electronic products

    Retail chains
    See in list
  3. SS Mobile

    Mobile retail chain offering a wide range of mobile devices and accessories

    Retail chains
    See in list
  4. Kohinoor Electronics

    Retailer of electronic appliances and accessories

    Retailers
    See in list
  5. Westside

    Internet first brand of casual apparel for men and women

    Retail chains
    Website

Jewellery, watches, eyewear & fashion accessories

Stores and brands for jewellery, eyewear, watches and accessories.

  1. ORRA

    Retailer of fashion accessories

    Retail chains
    See in list
  2. JUST IN TIME

    Time Watches is a authorized retailer offering a wide range of premium watch brands

    Retail chains
    See in list
  3. WHP Jewellers

    Internet first brand of jewelry

    Fashion accessories
    See in list
  4. Gangar Eyenation

    Brand of eyewear

    Fashion accessories
    See in list
  5. Shiv Shubham

    Retail chain of diverse range of jewelry products

    Retail chains
    See in list

Footwear retail chains & brands

Shoe stores and footwear brands for men, women and kids.

  1. Superkicks

    Premium sneaker and streetwear store offering genuine sneakers, apparel, and exclusive drops from brands like Nike

    Fashion tech
    See in list
  2. Eridani

    Retailer of women's footwear

    Footwear brands
    See in list
  3. Mochi Shoes

    Internet first brand of multi category footwear for men, women and kids

    Retail chains
    Website
  4. Element Retail

    Streetwear brand with skateboarding at its roots, offering footwear, apparel, and skateboarding gear

    Retail chains
    See in list

Home furnishing, beauty & lifestyle retail chains

Chains selling home furnishing, beauty, stationery and pet products.

  1. DMart Ready

    Online platform offering doorstep delivery of groceries and home essentials at competitive prices

    Retail chains
    See in list
  2. Frootle

    Provider of online and offline retail for home, kitchen, and wellness

    Retail chains
    See in list
  3. Praxis Home Retail

    Retail store of cookware & cutlery

    Retail chains
    See in list
  4. Parcos

    Online retailer offering beauty products

    Retail chains
    See in list
  5. Lloyds Luxuries

    Wholesaler & retail chain of beauty & skin care products

    Retail chains
    See in list

Retail startups in Maharashtra

Recently founded retail chain startups based in Maharashtra.

  1. RnR Stores

    Retail chain aggregator that organizes unorganized local grocery stores using technology and its own distribution system

    Retail chains
    Website
  2. Cop Your Drip

    Retail chain of clothing and accessories

    Retail chains
    Website
  3. BEAUTY SCENTIMENTS

    E-commerce platform offering a wide range of cosmetics and fragrance products from various brands

    Retail chains
    Website
  4. Big&Bold

    Online retailer specializing in plus-size clothing for men, offering a wide range of products including shirts, casual wear, and accessories

    Retail chains
    Website
4 companies in Maharashtra

Retail chains hiring in Maharashtra

Retail chain companies in Maharashtra with open positions right now.

  1. Reliance Retail

    Retail chain offering diversified products

    Retail chains
    See in list
  2. Croma

    Retail chain of consumer electronics and durable goods

    Retail chains
    See in list
  3. Shoppers Stop

    Retailer of large format fashion and lifestyle products

    Retail chains
    See in list
  4. DMart Ready

    Online platform offering doorstep delivery of groceries and home essentials at competitive prices

    Retail chains
    See in list
  5. SS Mobile

    Mobile retail chain offering a wide range of mobile devices and accessories

    Retail chains
    See in list
17 companies in Maharashtra

Listed retail chains in Maharashtra

Publicly listed retail chain companies in Maharashtra.

  1. DMart

    Retail chain of multi-category products

    Retail chains
    See in list
  2. ABFRL

    Retail chain of premium lifestyle apparels

    Retail chains
    See in list
  3. Pantaloons

    Multi Brand Premium Fashion Retailer

    Retail chains
    See in list
  4. Shoppers Stop

    Retailer of large format fashion and lifestyle products

    Retail chains
    See in list
  5. Cravatex

    Franchise of international brand.

    Retail chains
    See in list
8 companies in Maharashtra
Mobile reach

Top 8 retail chains apps from Maharashtra

The most-installed Android apps published by retail chains companies headquartered in Maharashtra — 32.3M installs between them. 8 companies on this page publish at least one app; each company (legal entity) appears once, with its most-installed app.

1 of 8
1

Pantaloons-Online Shopping App

by Pantaloons

Installs14.0M
Rating4.860K ratings
Last updatedMay 2026
View on Google Play ↗
Pantaloons-Online Shopping App screenshot 1Pantaloons-Online Shopping App screenshot 2Pantaloons-Online Shopping App screenshot 3Pantaloons-Online Shopping App screenshot 4
2

Shoppers Stop Fashion Shopping

by Shoppers Stop

Installs10.9M
Rating4.32101K ratings
Installs, year on year+18%
Last updatedApr 2026
View on Google Play ↗
Shoppers Stop Fashion Shopping screenshot 1Shoppers Stop Fashion Shopping screenshot 2Shoppers Stop Fashion Shopping screenshot 3Shoppers Stop Fashion Shopping screenshot 4Shoppers Stop Fashion Shopping screenshot 5Shoppers Stop Fashion Shopping screenshot 6
4

Aza Fashions Designer Clothing

by Aza Fashions

Installs925K
Rating4.721K ratings
Last updatedJun 2026
View on Google Play ↗
Aza Fashions Designer Clothing screenshot 1Aza Fashions Designer Clothing screenshot 2Aza Fashions Designer Clothing screenshot 3Aza Fashions Designer Clothing screenshot 4Aza Fashions Designer Clothing screenshot 5Aza Fashions Designer Clothing screenshot 6
5

Croma Smart Exchange

by Croma

Installs181K
Rating—
Installs, year on year+500%
Last updatedJul 2025
View on Google Play ↗
Croma Smart Exchange screenshot 1Croma Smart Exchange screenshot 2Croma Smart Exchange screenshot 3Croma Smart Exchange screenshot 4Croma Smart Exchange screenshot 5Croma Smart Exchange screenshot 6
6

LearnTrak

by DMart

Installs103K
Rating—
Installs, year on year+500%
Last updatedMay 2026
View on Google Play ↗
LearnTrak screenshot 1LearnTrak screenshot 2LearnTrak screenshot 3LearnTrak screenshot 4LearnTrak screenshot 5LearnTrak screenshot 6
7

ZUDIO FANZ

by Zudio

Installs74K
Rating—
Last updatedApr 2026
View on Google Play ↗
ZUDIO FANZ screenshot 1ZUDIO FANZ screenshot 2ZUDIO FANZ screenshot 3ZUDIO FANZ screenshot 4ZUDIO FANZ screenshot 5ZUDIO FANZ screenshot 6
8

ORRA

by ORRA

Installs37K
Rating—
Last updatedMay 2026
View on Google Play ↗
ORRA screenshot 1ORRA screenshot 2ORRA screenshot 3ORRA screenshot 4ORRA screenshot 5ORRA screenshot 6
The business behind the activity

Retail chains financials in Maharashtra

Revenue, profit and growth from the filed annual accounts of 36 retail chains companies in Maharashtra for FY24-25 — 44 of the 114 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 95% of the revenue, so medians describe the typical company better than totals.

combined revenue, FY24-25₹340,489.46 cr

36 companies filing accounts

combined net profit₹10,548.53 cr

3.1% aggregate margin

are profitable64%

23 of 36 companies

median revenue~₹107.3 cr

the typical company

median revenue growth+9%

into FY24-25

earned by the top five95%

revenue concentration

Six-year view

Combined revenue of filing companies

₹166,730.51 crFY19-2033 filers
₹151,983.73 crFY20-2134 filers
₹196,203.52 crFY21-2235 filers
₹267,929.61 crFY22-2335 filers
₹317,747.82 crFY23-2439 filers
₹340,489.46 crFY24-2536 filers

The number of companies filing changes each year; the three-year cohort below compares like with like.

Like-for-like

The same 31 companies over three years

+25%
FY22-23₹267,790.99 cr₹6,791.39 cr net
FY23-24₹312,249.09 cr₹9,474.84 cr net
FY24-25₹334,648.72 cr₹10,701.70 cr net

Companies with accounts for all three years, so growth is not an artefact of who filed.

Scale and profit

Bigger companies are far more often profitable

Under ₹1 cr1100% profitable
₹1–10 cr633% profitable
₹10–100 cr1164% profitable
₹100–1,000 cr875% profitable
Over ₹1,000 cr1070% profitable

Companies by FY24-25 revenue. Bars show how many companies sit in each band.

Momentum

How fast revenue moved into FY24-25

Shrinking10
0–20%12
20–50%9
50–100%3
Doubled+2

36 companies with accounts for both years; median growth +9%.

Profitability

Profit is concentrated at the top

23profitable
13loss-making
3.1%aggregate margin
0.5%median margin

The aggregate margin is pulled up by a few large filers; the median shows the typical company.

Growth leaders · ₹10 cr+ revenue

Fastest growing, FY24-25

CompanyGrowthRevenue
EridaniEridani Fashions Private Limited
ParcosFRAGRANCE SHOP PRIVATE LIMITED+55%₹81.03 cr
CravatexCRAVATEX LIMITED+55%₹14.33 cr
WHP JewellersWHP JEWELLERS ECOMMERCE PRIVATE LIMITED+49%₹267.11 cr
JUST IN TIMEJUST-IN-TIME TRADING PRIVATE LIMITED+39%₹364.09 cr
TrentTRENT LIMITED+38%₹16,997.48 cr
Profit leaders · ₹10 cr+ revenue

Highest net margins, FY24-25

CompanyMarginRevenue
CravatexCRAVATEX LIMITED33.9%₹14.33 cr
MapleMAPLE DIGITAL TECHNOLOGY INTERNATIONAL PRIVATE LIMITED14.1%₹275.82 cr
TrentTRENT LIMITED9.3%₹16,997.48 cr
Shiv ShubhamSHIV SHUBHAM JEWELLERS PRIVATE LIMITED
FrootleFROOTLE INDIA PRIVATE LIMITED6.9%₹416.93 cr
Armstrong ProductsARMSTRONG PRODUCTS PRIVATE LIMITED
Inside the industry

Sub-sectors compared, FY24-25

Sub-sectorCompaniesRevenueMedian revenueProfitableMargin
Retail chains26₹339,722.99 cr~₹281.8 cr62%3.1%
Leaders

Largest retail chains companies by revenue, FY24-25

Company · legal entityRevenueNet resultMarginGrowth
Reliance RetailReliance Retail Limited₹271,227.00 cr₹9,973.00 cr3.7%+5%
CromaINFINITI RETAIL LIMITED₹19,228.02 cr−₹1,090.79 cr-5.7%+7%
TrentTRENT LIMITED₹16,997.48 cr9.3%+38%
Vijay SalesVIJAY SALES (INDIA) PRIVATE LIMITED₹10,632.60 cr₹414.90 cr3.9%+22%
ABFRL, PantaloonsADITYA BIRLA FASHION AND RETAIL LIMITED₹5,807.07 cr−₹127.53 cr-2.2%+9%
Shoppers StopSHOPPERS STOP LIMITED₹4,488.56 cr₹6.74 cr0.2%+5%
DMart ReadyAVENUE E-COMMERCE LIMITED₹3,507.03 cr−₹247.37 cr-7.1%+21%
UnicornUNICORN INFOSOLUTIONS PRIVATE LIMITED₹3,065.53 cr₹29.36 cr1.0%+15%
SS MobileSS RETAIL LIMITED₹1,599.96 cr₹39.86 cr2.5%+32%
ORRAORRA FINE JEWELLERY PRIVATE LIMITED₹1,241.02 cr₹6.44 cr0.5%+7%
Some figures are available to Radar members.Log in to Radar to see every figure

Standalone annual accounts filed with the Ministry of Corporate Affairs. Brands that share one legal entity are shown together and counted once.

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The figures on this page come from Fliar’s company, funding and MCA filings data. Use it through the Investor Intelligence API and MCA financials feeds, or explore every company, filing and investor in Radar.

Capital & corporate activity

Retail chains funding and M&A across India

125 recorded equity rounds have gone to 658 retail chains companies in India — how much, at which stage, into which sub-sectors, from whom, and how Maharashtra compares. Debt, IPO and grant rounds are excluded.

equity rounds, last 12 months0

US$0k

equity rounds, last 24 months9

US$108.63m

raised over five yearsUS$1.52bn

44 rounds in India

M&A deals, India45

last 24 months

Capital by year

Equity funding into retail chains in India

amount rounds
$6.0m20185
$42m20197
$6.2bn202013
$53m20218
$34m202210
$1.3bn20239
$74m202410
$79m20257

Bars show US$ raised; the number under each year is equity rounds. 2026 is year to date. The peak year was 2020, with US$6.17bn across 13 rounds.

The funding ladder · five years

Rounds and typical cheque by stage

AngelUS$139k4 rounds · median US$39k
SeedUS$27.63m13 rounds · median US$1.81m
Series AUS$92.14m13 rounds · median US$4.61m
Series BUS$140.17m11 rounds · median US$11.80m
Series D+US$12.00m1 rounds · median US$12.00m
Private equityUS$1.24bn2 rounds · median US$622.35m
Where the money went · five years

Most-funded sub-sectors

Retail chainsUS$1.41bn35 rounds · 18 companies
Pet care productsUS$62.00m2 rounds · 1 companies
Fashion accessoriesUS$45.87m2 rounds · 1 companies
Food retailersUS$239k2 rounds · 1 companies
Clinic chainsUS$39k1 rounds · 1 companies
Fashion techUS$0k1 rounds · 1 companies
Services for healthcare providersUS$0k1 rounds · 1 companies
Corporate activity · last 24 months

M&A in India

40Acquisition
4Merger
1Announced

Most active acquirers

  1. Reliance retail18
  2. Senco Gold3
  3. Hometown3
  4. Na2
  5. TPG NewQuest and A91 Partners2

Most acquired or merged

  1. Vishal mega mart3
  2. Pahadi local2
  3. Kelvinator2
  4. Citykart2
  5. Anomaly Haircare1

Each deal appears in the events strip at the top of the page.

Retail chains funding in Maharashtra

6 retail chains companies in Maharashtra have recorded equity funding, US$7.45bn in total. Totals and round dates describe the historical record; they are not current valuations.

Founders and momentum in Maharashtra

Meet the people behind retail chains companies in Maharashtra. 58 of 114 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.

Explore Maharashtra retail chains companies by sub-sector

The most common specialisations among retail chains companies in Maharashtra. Open a company to see what it sells, who runs it and how far it has come.

Keep exploring retail chains in India and nearby markets.

Coming soon