reports Revenue Rs 1430 Crs, up 20% YoY Non-GAAP EBITDA Rs 128 Cr up 27% YoY in Q3FY23
·Reports highest ever PBT at Rs.91 Cr in Q3 FY23, up 44% YoY; PAT at Rs 68 Cr, up 45% YoY
·Continues to be debt free, post Investment in Capex of Rs 125 Cr /need based Working Capital of Rs.85 Crs.
·Brands premiumization across categories results in strong ASP growth of 23%
·Launches six new department stores and five beauty stores
Mumbai, January 23, 2023: Shoppers Stop Ltd. one of India’s leading premier retailers of fashion and beauty brands, has declared its results for the quarter ended December 31, 2022, for the fiscal year 2022-23.
Key financial highlights for Q3 FY23:
·Revenue at Rs 1430 Cr, up 20% YoY
·EBITDA grew 27% YoY to Rs 128 Crs
·PBT grew up by 44% YoY to Rs 91 Crs
·PAT Rs 68 Crs vs Rs 47 Cr in Q3FY22
·Debt free with a surplus cash of Rs 42 Crs
|
Rs in Cr. |
Non-GAAP |
|
|
GAAP |
||
|
|
Q3FY23 |
Q3FY22 |
Growth% |
Q3FY23 |
Q3FY22 |
Growth% |
|
Revenue |
1430 |
1190 |
20% |
1132* |
951* |
19% |
|
Gross Margin |
474 |
392 |
21% |
462 |
387 |
20% |
|
EBITDA |
128 |
100 |
27% |
240 |
198 |
21% |
|
PBT |
95 |
64 |
49% |
89 |
67 |
33% |
|
ESOP |
4 |
0 |
|
4 |
0 |
|
|
PBT(adj.) |
91 |
63 |
44% |
85 |
66 |
28% |
|
PAT |
68 |
47 |
45% |
62 |
50 |
23% |
*Net of tax
Mr. Venu Nair, MD and CEO at Shoppers Stop, commented on the Q3FY23 results, "The growth momentum continued from the second quarter, tapering down a little after Diwali. Customer sentiments remain largely buoyant due to the prolonged festive and wedding season demand. The company’s strategy to give a great buying experience to the customers is fueling footfalls at our physical stores, and eyeballs online. The revamped look and feel of the stores, and diversified product SKUs have made Shoppers Stop the preferred choice of customers.
We clocked the highest ever quarterly Sales, Gross Margin, EBITDA and PBT. Product premiumization across private brand categories has resulted in the highest quarterly sales with a growth of 23%. The beauty category was strong and reported their highest quarterly sales with a growth of 18% The company’s fund allocation strategy has kept us debt free, and we have a net surplus cash of Rs 42 Cr in our books.
Our store expansion plan is on track as we opened six department and five beauty Stores. Five more department stores are under fit out. By the fiscal year end, we plan to open a further 5 Department stores and 4 Beauty Stores in 7 cities, taking the overall store count to 280 stores in 54 cities.”
Continued robust performance from strategic pillars:
First Citizen Loyalty Customers – Continue to choose as preferred brand of choice for their fashion, lifestyle and beauty needs. Our First Citizen Members contributed 77% of our offline sales and 38% of online sales. Our engagement continues to remain focused with multiple activities during the quarter.
·Private Brands – Private Brands category grew 23% YoY with “STOP” being the highest Apparel grossing brand.
“Fratini” grew by 48%. Men's Indian wear brand “Bandeya” grew up by 62%
·Beauty – Beauty category was up 18% YoY and reported sales of Rs 232 Cr. “Block Friday” and “Singles Day” campaign gathered a strong response, driving the sales up by 85% during the campaign. Over 112,000 makeovers done during the quarter, created strong customer resulting in Rs.30 Crs additional sales in Beauty. In our Private Brand, “Arcelia” we launched 80 new SKUs. The total SKU count under the beauty segment has now reached 400 and above. The company intends to launch 19 SKUs of make-up, bath and body, and fragrance in the near term.
·Store Expansion – The Company opened 6 Department and 5 Beauty stores in Q3, taking the total store count to 271, spread across 50 cities across India. With the addition of these stores, the company has now over 3.9 M sq. ft. of store presence across the length and breadth of the country. The company intends to add 5 Department and 4 Beauty stores by the end of fiscal 2022-23.
·Omni – Our sale has been consistent; our share of Beauty and Private Brand are higher. The customer journey doesn’t just begin and end in our store, due to the variety of options present both online and in store. We are positioned to be great Omni Channel store, with significant depth and a huge role in influencing consumers to walk in through the door, as customers typically switch between online search and offline when researching the products to buy. With this in mind, we have been investing in online the best way to integrate the two to drive growth.
We have published a detailed Non-GAAP and GAAP Income Statement. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our financial statements prepared in accordance with GAAP.
Gurugram, India – October 11, 2023: Samsung announced exciting offers
Bangalore, 10th October 2023: The Nokia G42 5G (16GB+256G
Bengaluru, October 10, 2023 IN-SPACe (Indian National Space Promotion and
New Delhi, October 3, India- Philips India announces an exciting co
One of the largest CPG Pitch Slams in India, offering participants a chance to win one year of free access to NIQ data, valued at $30,000!<
 (1)_1713611592.jpg)
Through this exciting initiative, the brand aims to emerge as the go-to purveyor of authentic Chinese in India
New D
Business / 29-04-2024
CSMIA's cargo operations thrive in FY 2024, driven by 10% rise in international volumesEducation / 29-04-2024
“69% Female Representation in MBA Analytics, Underscores the Evolving Landscape of Education – Sandeep Singh, Chairman BoG – IIM Kashipur”Business / 29-04-2024
NIQ Announces Inaugural ‘NIQ Founders Pitch Slam’ Competition for Emerging CPG Brands in Indiaeducation / 29-04-2024
IIT Kanpur is inviting applications for the 4th batch of eMasters degree program in Data Science and Business AnalyticsKerala / 29-04-2024
CII Digital Saksham Transforms Kerala's Entrepreneurial Landscape: Empowering Micro-Businesses for a Digital FuturePelikken © Copyright 2022, All Rights Reserved
