May 2026
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Largest Specialty Stores Public Companies in India
Benchmark revenue and EBITDA valuation multiples for public comps like
Asian Paints, Trent, Kalyan Jewellers India, Metro Brands and Medplus Health Services.
 | Asian Paints Ltd manufactures and sells a variety of paint and home improvement products. The firm operates itself as a Paints and Home Decor company which sells interior and exterior paints, metal finish, and wood finish. The home improvement product offerings include kitchen and bathroom products. Asian Paints sells its products to distributors and directly to the home improvement industry through the company's network of retail stores. The majority of revenue comes from India. | $28 | +9% | $27B | $26B | 6.9x | 33.3x | ||
| Trent Ltd through its subsidiaries, operates a chain of retail stores. The company offers various brands across women's wear, men's wear, kids' wear, footwear, lingerie, cosmetics, perfumes, handbags, and accessories. It also offers foods, beverages, health and beauty products, vegetables, fruits, dairy products, and others. The company offers these products by operating a portfolio of retail concepts like Westside, Zudio, Samoh, Utsa, Misbu, and others. The company is in the business of retailing/trading predominantly in India. | $44 | -35% | $16B | $16B | 7.4x | 39.7x | ||
| Kalyan Jewellers India Ltd is a Jewellery company. The business activities of the company are to design, manufacture, and sell a variety of gold, studded and other jewellery products for various occasions such as weddings, festivals and others. It operates in a single segment namely the jewellery business. | $4 | -40% | $4B | $4B | 1.1x | 15.2x | ||
| Metro Brands Ltd is a specialty retailer of fashion footwear, bags, and accessories. It offers a wide range of branded products for the entire family, including items for men, women, unisex, and kids, suitable for every occasion, from casual to formal events. The company is also involved in manufacturing foot care and shoe care products through a joint venture. The various in-house and third-party brands in its product portfolio include Metro Shoes, Mochi Shoes, Clarks, Fila, New Era, Foot Locker, FitFlop, Walkway Shoes, Crocs, daVinchi, and Cheemo. The company’s only business is the trading of fashion footwear, bags, and accessories, operating in the premium and economy categories. | $11 | -13% | $3B | $3B | 10.1x | 29.8x | ||
| Medplus Health Services Ltd is a pharmacy retailer. It offers pharmaceutical and wellness products such as medicines, vitamins, medical devices, test kits, and others. The company also offers an omnichannel platform wherein customers can purchase products through stores, place orders over the telephone, online orders, and a Click and Pick facility. Its operating segments include Retail, Diagnostics, and Others. | $9 | -5% | $1B | $1B | 1.6x | 16.7x | ||
| Senco Gold Ltd is a pan-India jewellery retail company with a history of more than five decades, and has a fourth-generation entrepreneur in the jewellery industry as its Promoter. The company principally sell gold and diamond jewellery and also sells jewellery made of silver, platinum, precious and semi-precious stones and other metals. Its other offerings also include costume jewellery, gold and silver coins and utensils made of silver. Its products are sold under the Senco Gold & Diamonds tradename, through multiple channels, including its 75 Company Operated Showrooms and 61 Franchisee Showrooms and various online platforms, including its website. Geographically, the company generates the majority of its revenue from India. | $4 | -4% | $587M | $792M | 0.9x | 7.2x | ||
| Rajesh Exports Ltd is a gold refiner and Manufacturer of all kind of Gold products. The Company export its products to various countries around the world and it also sell its products in whole sale and retail in India and also through its own retail showrooms under the brand name of SHUBH Jewellers. Rajesh Exports Ltd has setup various manufacturing facilities in India and other countries. | $1 | -46% | $345M | $142M | 0.0x | 3.5x | ||
| Median | $9 | -13% | $3B | $3B | 1.6x | 16.7x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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