Shoppers Stop Limited has informed the Exchange about Investor Presentation
SHOPPERS STOP
October 19, 2022
National Stock Exchange of India Limited Exchange Plaza, Bandra-Kurla Complex, Bandra (East), Mumbai 400 051. Stock Symbol : SHOPERSTOP
SEC/71/2022-23
BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai 400 001. Stock Code : 532638
Dear Sir / Madam,
Sub.: Press Release and Investor Presentation for the quarter and half year ended September 30, 2022
Please find enclosed Press Release and Investor Presentation dated October 19, 2022 for the quarter and half year ended September 30, 2022.
information
This https://corporate.shoppersstop.com/investors/.
is also being made available on the corporate website of the Company
i.e.
Kindly take the above on record.
Thank you.
Yours truly, For Shoppers Stop Limited
Vijay Kumar Gupta Vice President- Legal, Company Secretary & Compliance Officer ACS No: 14545 Encl: A/a
Registered & Service Office : Umang Tower, 5th Floor, Mindspace, Off. Link Road, Malad (W), Mumbai 400 064, Maharashtra. T 022- 42497000 CIN : L51900MH1997PLC108798. Email : customercare@shoppersstop.com Website: www.shoppersstop.com
Toll Free No.:1800-419-6648 (9 am to 9 pm).
Shoppers Stop Limited
Press Release for immediate distribution
Shoppers Stop declares highest ever Q2 Sales and EBITDA Sales up by 62% @ Rs 1270 Cr and EBITDA up by 6762% @Rs 75 Crs
PBT Rs.32 Cr against a loss of Rs.44 Crs PAT of Rs 25 Crs against the loss of Rs. 43 Crs
Debt Free with surplus cash of Rs 13 Cr Bollywood actor Sanya Malhotra endorsed Private Brand “Kashish”
Mumbai, October 19, 2022: Shoppers Stop Ltd. one of India’s leading premier retailers of fashion and beauty brands, today have declared their second quarter results for the quarter ended September 30, 2022, for the fiscal year 2022-23.
Financial Performance:
Rs in Cr.
Sales Gross Margin EBITDA PBT ESOP Crossword/One off PBT(adj.) PAT
Q2FY23 1270 416 75 34
2 32 25
Management Comments:
Non GAAP Q2FY22 785 243 1 -44
Growth% 62% 71% 6762%
-44 -43
Q2FY23 1008 415 176 31 4 3 24 18
GAAP Q2FY22 632 241 138 -4
-4 -3
Growth% 60% 72% 27%
Mr. Venu Nair, MD & CEO at Shoppers Stop, commented on the Q2 FY23 results, "The momentum from last year and first quarter of this year continued. Our strong second quarterly numbers reflect the adopted strategy delivering our results. Customer sentiments remain upbeat, which is reflecting in Footfalls, Average Selling Price, Average Transaction Value and other KPI’s. Our continued improvement in Customer Experience, engagement and improved data analytic capabilities are providing us the competitive edge to remain ahead of the curve.
Our Store expansion plan is on track and we should open 12-15 stores during the year, with 6 stores to be opened in October and November.
We are extremely happy to inform you that we have forayed distributing International Beauty Brands with exclusive rights in India. This will enable us to bring newer brands in the Country, further enhancing our strong presence in Beauty.
Continued robust performance from strategic pillars:
First Citizen Loyalty Customers – Continued to demonstrate as a preferred brand of choice for their fashion and beauty needs. Our First Citizen Members contributed 77% of our offline sales with staggering 65% repeat sales
Private Labels – Private Labels continues to grow phenomenally by 76%. The Private Label
contributed 21% of our Apparel Sales and 15%, to the overall company sales.
Beauty – Beauty category contributed 15% to the overall sales (up by 45% YoY). Twenty-four
new brands have been launched in Q2FY23.
Omni Channel – The e-commerce platform contributed Rs 64 Cr revenue, (up by 8% YoY). Over 25% of online sales was from customer buying from cities which does not have Shoppers Stop stores. This clearly demonstrates the company’s brand recall and dominance.
Note: 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 consolidated financial statements prepared in accordance with GAAP.
About Shoppers Stop Limited: Shoppers Stop Ltd. is the nation's leading premier retailer of fashion and beauty brands established in 1991. Spread across 91 department stores, the Company also operates 11 premium home concept stores, 139 Specialty Beauty stores of M.A.C, Estée Lauder, Bobbi Brown, Clinique, Jo Malone, Too Faced, SS Beauty and 25 Airport doors, occupying area of 3.8 M sq. ft. Shoppers Stop is home to one of the country's longest running and most coveted loyalty program 'First Citizen'. The Company's one-of-a-kind shopping assistance service, 'Personal Shopper' is revolutionizing the way Indian’s shop, bringing more value, comfort, and convenience to customer experiences. The brand's diversified Omni channel offering spans over 800+ recognized and trusted brands across an incomparable range of products that together serve our overarching objective of delivering customer delight.
For more information, contact: Shoppers Stop Ltd Rohit Trivedi (P) + 91- 9322672437 (E) rohit.trivedi@shoppersstop.com
---END---
PERFORMANCE HIGHLIGHTS Q2 FY23
KASHISH
1
1 KEY HIGHLIGHTS 2 EXPANSION 3 STRATEGIC PILLARS 4 COMPANY FINANCIALS
2
HAUTE CURRY
MARKET OUTLOOK
Customer • Customer confidence at its peak with increased spending and enthusiasm
• 78% of customers engage with offers,
if personalized to their previous engagements with the brand*
Channel • Offline Retail at its historic peak sales
• E-Commerce continues to grow, albeit
at a lower pace
• Collaborations between e-commerce and traditional Retail Brands continuing
•
•
Industry •
Innovate, Differentiate and Accelerate
• Redefining customer experience through technology upgradation and innovation
• Premium
and performing well
Lifestyle
segment
Expansion •
Increasing Stock of Grade A Malls in Top 7 cities
Innovative deal structuring from Landlords
Investment in stores renovation by retailers
LIFE
3
*Moengage.com blog dt Oct 10’22
Q2 HIGHLIGHTS
BEST EVER Q2 PERFORMANCE
(Non GAAP)
• Revenue grew by +62% vs LY and +19% vs pre-covid to reach Rs.1270 Crs
• Private brand recorded highest quarterly sales @ Rs. 192 Crs (+76%)
• EBITDA @ Rs.75 Crs vs Rs.1 Crs in FY22 and Pre-Covid Rs.48 Crs
• PBT @ Rs.32 Crs vs Loss of Rs 44 Crs in FY22 and nearly two times of Pre-Covid
• Continues to be debt free – Net Surplus of Rs. 13 Crs
• Opened 1 Department and 2 SS Beauty Stores; 6 Department stores under fit-out
• Renovated 2 Department stores and 2 in process
4
STOP
Q2 in Numbers
Revenue
(Non GAAP)
Profitability
(Non GAAP)
(Vs FY22)
Sales
Rs 1270 Crs +62%
Gross Margin
Rs 416 Crs +71% (+180Bps)
Private Brand
Rs 192 Crs +76%
EBITDA
Rs 75 Crs
(FY22 + Rs.1 Crs)
Beauty
Rs. 185 Crs +45%
PBT
Rs 32 Crs (FY22 loss of Rs 44 Crs)
Balance Sheet
Store Expansion and Renovation
Net Surplus
Rs.13 Crs
New Store
Capex
Rs 56 Crs
1 Dept Store (6 under Fit-out) 2 SS Beauty
Renovation
2 Dept Stores
5 ARCELIA
OPERATIONAL KPIs
Customer Visits (Mn)
ATV (Rs/-)
40.8
29.8
25.3
20.5
45 00
4400
43 00
4200
4100
4000
3900
3800
3700
3600
3500
3400
3300
3200
3100
3000
2900
2800
2700
2600
2500
2400
2300
2200
2100
2000
1900
1800
1700
1600
1500
1400
1300
1200
1100
1000
900
800
700
600
500
400
300
200
100
3,221
3,303
3,760
4,069
6.0
Q2FY20 Q2FY21 Q2FY22 Q2FY23
Q2FY20
Q2FY21
Q2FY22
Q2FY23
ALTLIFE LIFE
(Offline & Online)
6
YEARLY TREND (NON GAAP)
Sales
1101
1001
901
801
701
601
501
401
301
201
101
1
80
-20
-120
1,070
1,270
785
371
Q2FY20
Q2FY21
Q2FY22
Q2FY23
EBITDA
48
1
75
-83
Q2FY20
Q2FY21
Q2FY22
Q2FY23
32.4%
347
(Rs in Crs)
32.8%
Margin
30.9%
27.1%
101
416
242
Q2FY20
Q2FY21
Q2FY22
Q2FY23
PBT
32
-30
-44
-126
Q2FY20
Q2FY21
Q2FY22
Q2FY23
34.0%
32.0%
30.0%
28. 0%
26. 0%
24.0%
22.0%
20. 0%
7
410
310
210
110
10
-60
-160
7
INSENSE
Sales (Net of GST)
845
632
292
1,008
Q2FY20 Q2FY21 Q2FY22 Q2FY23
EBITDA
155
176
138
28
45 0
350
250
150
50
-25
-100
-175
1100
1000
900
800
700
600
500
400
300
200
100
0
160
140
120
100
80
60
40
20
0
Q2FY20
Q2FY23 EBITDA Q2FY20 includes One off gain of Rs 13 Crs on account of revision of Lease life due to closed stores. Without this EBITDA grew by 23%
Q2FY22
Q2FY21
YEARLY TREND (GAAP)
41.4%
Margin
350
32.5%
95
(Rs in Crs)
41.2%
41.0%
38.2%
241
415
39.0%
37.0%
35.0%
33.0%
31.0%
Q2FY20
Q2FY21
Q2FY22
Q2FY23
PBT
24
-30
-4
-137
Q2FY20
Q2FY21
Q2FY22
Q2FY23 8
STOP
1 KEY HIGHLIGHTS 2 EXPANSION 3 STRATEGIC PILLARS 4 COMPANY FINANCIALS
9
LIFE
STORE FOOTPRINT
Stores Footprint as on 30th Sept22
Format
Store count
Department store
Home Stop
Beauty Stores
Airport Doors
91
11
139*
25
*Includes 54 Shop in Shop
# Carpet area
266 Stores 3.8M sq.ft.#
l
l
l
l
l
l
l
l
l
l
l
10
l
l
l
l
l
l
l
l l l
l
l l l ll
l
l
l
l
l
l
l
l
l
l
l
l
l
l
l
ll
l
l
llllllllllllllllllllllllllllllllllllllllllllll INVESTING FOR GROWTH
On track to add 12 Department stores and 15 Beauty stores during FY23
Store count
Metro
Tier II
Tier III
Total
3
7
2
12
Investments (Rs In Crs)
Q2FY23
New Stores and Renovation
Technology/Others
Omni (Opex)
Total
47
9
12
68
11
HOMESTOP
NEW - DEHRADUN STORE
12
NEW - SSBEAUTY STORE - GREEN PARK, NEW DELHI
13
NEW - SSBEAUTY STORE, KOLKATA CITY CENTRE
14
RENOVATED - AHMEDABAD, ALPHA-ONE
15
RENOVATED - VIZAG SHOPPERS STOP
16
1 KEY HIGHLIGHTS 2 EXPANSION 3 STRATEGIC PILLARS 4 COMPANY FINANCIALS
17
LIFE
STRATEGIC PILLARS
Growth Vs FY22
9.2M
+76%
+45%
+8%
SALES CONTRIBUTION
FIRST CITIZEN 77%
PRIVATE BRANDS 15%
+52%
BEAUTY 15%
+13%
OMNI-CHANNEL 5%
+212%
Growth Vs FY20
18
FIRST CITIZEN
1. Sales contribution:
• Offline • Online
77% (New Member 16%) 37%
• Pujo campaign leading to 29% higher Customer
Entry in east
• Private Brands: Member penetration @ 49% up by
736 bps
• Active base increased by 500 bps and overall growth of 29% by activating lapsers and arresting dropouts
19
STOP
FIRST CITIZEN
First Citizen Black Customers
• Enrolment • ATV • Members Spend
15.5K new customers 2X of First Citizens 4x of First Citizens
All Time High
• Engagement and experiences created for Black card customer
has got an overwhelming response
• Adventurous • Entertainment • Master Class
Mahindra Jeep ride Pujo celebration at Westin Kolkata Celebrity make up artist Ojas Rajani
20
TAPASYA STORE
Sanya x Kashish Festive Campaign
21 KASHISH
PRIVATE BRANDS
Sales
•
PB Contribution • Overall • Apparels
• Kids continue to outperform
• Value • Volume
Rs.192 Crs +76%
15%
21%
+93%
+47%
•
Indian-wear and Women western wear brand “Fratini” grew by 2x and Men’s Indian wear brand “Bandeya” grew 3X • Newly introduced New born apparels, gifts sets & utilities
grew by 2x
• Exclusive range of character merchandise grew by 3x
Sales and Contribution %
11.8%
126
15.5%
57
15.2%
192
13.9%
109
Q2FY20 Q2FY21 Q2FY22 Q2FY23
22
FRATINI
BEAUTY
Sales
Rs.185 Crs. +45%
• As a part of strengthening our Beauty Business, we have obtained exclusive
Rights for Retailing and Distribution of Leading International Beauty Brands for India from L'Oréal and Clarins. Expect to significantly add Luxury portfolio besides enriching the Customer experience at par with Global Standards
• Active engagement with Fast growing New-Age India brands across Online
and Offline
•
•
•
•
Showstopper campaign and 30 Makeup Masterclasses to drive engagement
Launched 2 New SS Beauty Stores – Green Park Delhi and City Centre Kolkata
Arcelia (Private Brand) • • Going to Launch 90 SKUs of Makeup and 3 SKUs in Bath and Body
Launched 35 SKUs of Bath & Body; contributing 20% to total category
Supply Chain disruptions continues for International brands, likely to normalize by Q4
15.3%
163
Sales and Contribution % 14.6%
17.0%
133
185
14.7%
54
Q2FY20 Q2FY21 Q2FY22 Q2FY23
23
OMNI CHANNEL
Sales App Downloads 900K in Q2
Rs.64 Crs +8%
15.5M Cumulative
Sales and Contribution %
• Exclusive Collaboration with “GOAT Brand Labs” to
5.0%
7.5%
59
64
sell D2C Brands to appeal Young audience
• 20 Online Exclusive brands launched • 25% of Online sales are from cities wherein Shoppers
not present
Omni Customers Shop both offline /online • Annual spend Omni Customer 2X of Stores • Frequency 5 times
7.8%
29
1.9%
20
Q2FY20 Q2FY21 Q2FY22 Q2FY23
24
HAUTE CURRY
1 KEY HIGHLIGHTS 2 EXPANSION 3 STRATEGIC PILLARS 4 COMPANY FINANCIALS
25
HOME STOP
KPI PERFORMANCE - Q2
Vs FY22
62%
180 bps
6762%
Sales
Gross Margin
EBITDA
Non GAAP
1270
GAAP
1008
416
415
75
176
60%
300 bps
27%
(Rs Crs)
26
INFUSE INFUSE
KPI PERFORMANCE - YTD
Vs FY22
139%
290 bps
(Rs 114 Crs)
Sales
Gross Margin
EBITDA
2460
1950
817
813
142
Non GAAP
344
GAAP
ALTLIFE
27
(Rs Crs)
134%
340bps
146%
FINANCIALS Q2 FY23
Particulars
Rs. in Crs.
Revenue
Other Income
Total Revenue
Margin
Margin% Operating Exp. (1)
EBITDA Depreciation(2)
Finance Cost
Non GAAP
FY23
1270
20
1290
416
FY22
785
8
792
243
Gr%
62%
159%
63%
71%
FY23
1008
4
1012
415
GAAP
FY22
632
68
699
241
Gr%
60%
-94%
45%
72%
32.8%
30.9%
180 Bps
41.2%
38.2% 300 Bps
361
75
36
5
249
45%
1
37
8
6762%
-5%
-35%
244
176
93
51
31
170
138
90
52
-4
43%
27%
3%
-1%
GAAP Revenue is Net of GST
PBT* 34 Previous years numbers are regrouped/rearranged wherever necessary
-44
*FY23 GAAP PBT is before ESOP and Crossword w/off of Rs 6 Crs
Adjustment in Net Profit PBT (as per Non GAAP) Lease Rent (Non-GAAP) Finance costs Depreciation on ROU Assets Remeasurement of leases life Others PBT (as per GAAP)
GAAP Adj 34 -101 46 57 0 1 31
1. Operating expenses include receivables write off (onetime)
Rs.5 Crs
2. Depreciation includes accelerated depreciation of IT
application for E.Com – Rs.3 Crs
28 BANDEYA
FINANCIALS YTD FY23
Particulars
Rs. in Crs.
Revenue
Other Income
Total Revenue
Margin
Margin%
Operating Exp.
EBITDA
Depreciation
Finance Cost
FY23
2460
36
2496
817
33.2% 711(1)
142 65(2)
11
Non GAAP
FY22
1031
11
1042
312
Gr%
139%
228%
140%
162%
FY23
1950
9
1960
813
GAAP
FY22
833
132
964
319
Gr%
134%
-93%
103%
155%
30.3%
290 Bps
41.7%
38.3% 340 Bps
438
-114
73
13
62%
-11%
-18%
479
344
177
103
64
311
140
178
103
-141
54%
146%
0%
0%
GAAP Revenue is Net of GST
PBT* 66 Previous years numbers are regrouped/rearranged wherever necessary
-201
*FY23 GAAP PBT is before ESOP and Crossword w/off of Rs 6 Crs
Adjustment in Net Profit PBT (as per Non GAAP) Lease Rent (Non-GAAP) Finance costs Depreciation on ROU Assets Remeasurement of leases life Others PBT (as per GAAP)
GAAP Adj 66 -197 92 110 -1 1 64
1. Operating expenses include receivables write off
(onetime) Rs.5 Crs
2. Depreciation includes accelerated depreciation of IT
application for E.Com – Rs.3 Crs
29
KASHISH
BALANCE SHEET
Particulars Net worth Loan Fund Total Liabilities Fixed Assets + Lease Deposit Investments Inventory Other Assets Total Current Assets Creditors Other Liabilities Total Current Liability Net Current Assets Total Assets Previous years numbers are regrouped/rearranged wherever necessary
Sep’22 675 134 809 766 125 1379* 529 1756 1514* 475 1989 -233 809
Sep'21 590 213 802 708 137 884 543 1254 985 484 1469 -215 802
*Includes ROR Inventory and Creditors of Rs. 923 Cr
Mar’22 625 194 819 732 163 1009 495 1336 1152 429 1581 -245 819
Net Cash
Rs. in Crs
Cash & Investments
Loan
Net Negative Debt
147
134
13
30
INSENSE
CASH FLOW
Particulars
Sep'22
Sep'21
Mar’22
Cash Profit from Operations (before tax)
Changes in Working Capital
Cash generated from Operations
Fixed Assets /Reduction in Capex Creditors
Cash generated from Operations
Redemption of Investments (Net)
Cash post Investing Activities
ESOP
Interest & Finance Cost
Loan (net of repayment)
Net Increase/(decrease) in Bank Balance
143
-39
104
-72
32
37
69
2
-10
-60
0
-112
79
-33
-32
-65
5
-60
2
-13
63
-9
-17
124
106
-120
-13
-24
-37
2
-19
44
-9
31
STOP
ANNEXURES
FINANCIALS Q2 FY23
Particulars Rs. in Crs. Revenue Other Income Total Revenue Margin Margin% Operating Exp. EBITDA Depreciation Finance Cost PBT ESOP’s + Crossword PBT(Adj) Tax PAT
Gr% 62% 159% 63% 71% 180 Bps 45% 6762% -5% -35%
Non GAAP FY23 FY22 1270 785 20 8 1290 792 243 416 32.8% 30.9% 249 361 1 75 37 36 8 5 -44 34 0 2 -44 32 -1 7 -43 25
FY23 1008 4 1012 415 41.2% 244 176 93 51 31 7 24 7 18
Gr% 60% -94% 45% 72%
GAAP FY22 632 68 699 241 38.2% 300 Bps 170 138 90 52 -4 0 -4 -1 -3
43% 27% 3% -1%
Previous years numbers are regrouped/rearranged wherever necessary
GAAP Revenue is Net of GST
33
LIFE
FINANCIALS YTD FY23
Particulars Rs. in Crs. Revenue Other Income Total Revenue Margin Margin% Operating Exp. EBITDA Depreciation Finance Cost PBT ESOP’s + Crossword PBT(Adj) Tax PAT
FY23 2460 36 2496 817 33.2% 711 142 65 11 66 2 64 16 48
Gr% 139% 228% 140% 162% 290 Bps 62%
-11% -18%
-87%
Non GAAP FY22 1031 11 1042 312 30.3% 438 -114 73 13 -201 15 -216 -36 -180
Gr% 134% -93% 103% 155% 340 Bps 54% 146% 0% 0%
-51%
GAAP FY22 833 132 964 319 38.3% 311 140 178 103 -141 15 -156 -36 -121
FY23 1950 9 1960 813 41.7% 479 344 177 103 64 7 56 16 40
Previous years numbers are regrouped/rearranged wherever necessary
GAAP Revenue is Net of GST
34
INFUSE
266( 1 )
S t o r e s
9.2M F I R S T C I T I Z E N S
15% Mix P R I V A T E B R A N D S
3.8 M S Q U A R E F E E T A R E A
800+ B R A N D S
5% Mix E C O M
48 C I T I E S
41 Mn W A L K - I N S i n Q 2
16.6K ( 2 ) T A L E N T P O O L
FACTS as at 30th Sept’22
I n c l u d e s 5 4 S h o p i n S h o p s
1 . 2 . I n c l u d i n g B r a n d s t a f f
35
BANDEYA
DISCLAIMER
Certain statements in this release concerning our future growth prospects are forward-looking statements within the meaning of applicable securities laws and regulations, and which involve number of risks and uncertainties, beyond the Control of the company, that could cause actual results to differ materially from those in such forward-looking statements The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding Fluctuations in earnings, our ability to attract and retain highly skilled professionals, political instability, legal cost advantage, wage increases, our ability to attract and retain highly skilled professionals, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and General economic conditions affecting our industry.
Shopper’s Stop Ltd. may, from time to time, make additional written and oral forward looking statements, including our reports to shareholders. The Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company. The Company also expects the media to have access to all or parts of this release and the management’s commentaries and opinions thereon, based on which the media may wish to comment and/or report on the same. Such comments and/or reporting maybe made only after taking due clearance and approval from the Company’s authorized personnel. The Company does not take any responsibility for any interpretations/ views/ commentaries/reports which may be published or expressed by any media agency, without the prior authorization of the Company’s authorized personnel.
In case of any clarifications please contact on investor@shoppersstop.com