STYLEBAAZANSE28 January 2025

Baazar Style Retail Limited has informed the Exchange about Investor Presentation

Baazar Style Retail Limited

Date: January 28, 2025

BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001

National Stock Exchange of India Limited, Exchange Plaza, Plot No. C-1, G Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400 051

Scrip Code: 544243

Trading Symbol: STYLEBAAZA

Dear Sir/Madam,

Subject: Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

Pursuant to the Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith a copy of the Investor Presentation on Unaudited Standalone and Consolidated Financial Results of the Company for the quarter and nine months ended on December 31, 2024.

We request you to kindly take the aforesaid information on record.

For Baazar Style Retail Limited

Abinash Singh Chief Compliance Officer, Company Secretary and Head - Legal & Compliance

Baazar Style Retail Limited {Formerly known as Baazar Style Retail Pvt. Ltd.)

PS Srijan Tech Park, DN-52, 12th Floor, Sector-V, Salt Lake, North 24 Parganas, West Bengal 700091 t: (033} 61256125 e: info@stylebaazar.com www.stylebaazar.in

CIN No: L18109WB2013PLC194160

Baazar Style Retail Limited Investor Presentation – Q3 & 9MFY25

Safe Harbour Statement

This presentation and the accompanying slides (the “Presentation”), which have been prepared by Baazar Style Retail Limited (the “Company”) solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.

This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. All product names, logos, and brands are property of their respective owners. All company, product and service names used in this presentation are for identification purposes only. Use of these names, logos, and brands does not imply endorsement.

Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guaranteeing of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third-party statements and projections.

Table of Contents

Q3 & 9MFY25 Highlights

Company Overview

Annual Financials

Annexure

Q3 & 9MFY25 Highlights

Key Financial Highlights (Pre-IND AS)

Revenue (Rs Mn) Revenue (in ₹ Million)

Gross Margin (Rs Mn) Gross Margin (in ₹ Million)

 33 %

9983

 24 %

7494

4116

3332

33.9%

3381

 34 %

33.8%

2529

 25 %

37.7%

1553

37.2%

1239

Q3 FY25

Q3 FY24

9M FY25

9M FY24

Q3 FY25

Q3 FY24

9M FY25

9M FY24

EBITDA (Rs Mn) EBITDA (in ₹ Million)

 0.4 %

14.0%

575

17.2%

573

 23 %

8.3%

827

9.0%

674

PBT (Rs Mn) PBT

 5 %

 22 %

11.6%

480

15.1%

503

5.3%

532

5.8%

437

Q3 FY25

Q3 FY24

9M FY25

9M FY24

Q3 FY25

Q3 FY24

9M FY25

9M FY24

Key Financial Highlights (IND-AS)

Revenue (Rs Mn)

Gross Margin (Rs Mn)

 33 %

 24 %

33.9%

 34 %

33.8%

 25 %

37.7%

37.2%

EBITDA (Rs Mn)

PBT (Rs Mn) PBT (in ₹ Million)

15.0%

 26 %

15.8%

 10 %

20.2%

22.8%

 20 %

15.1%

513

9.9%

408

 3 %

3.9%

390

5.0%

380

Q3 FY25

Q3 FY24

9M FY25

9M FY24

Key Financial Highlights (IND-AS)

Revenue

Rs 4,116 Mn

 24 % YOY

 32 % QOQ

Rs 9,983 Mn

 33 % YOY

5 2 Y F 3 Q

5 2 Y F M 9

Key Highlights:

Gross Profit

Rs 1,553 Mn

EBITDA

Rs 833 Mn

 25 % YOY & 69% QOQ

 10 % YOY & 242% QOQ

Gross Margin: 37.7%

EBITDA Margin: 20.2%

Rs 3,381 Mn

 34 % YOY

Rs 1,497 Mn

 26 % YOY

Gross Margin: 33.9%

EBITDA Margin: 15.0%

PBT

Rs 408 Mn

 20 % YOY

 443 % QOQ

Rs 390 Mn

 3 % YOY

✓ Demand landscape remains robust, and we are optimistic about the upcoming quarter. With the wedding season and Eid approaching, we

anticipate a strong demand coming in Q4 FY25.

✓ Same Store Sales Growth stood at 10% in 9MFY25 and (-)3% in Q3FY25 due to preponement of Durga Puja by 11 days.

✓ Net addition of 15 stores in Q3FY25 taking the total Store Count to 199 as of Dec’24 (vs 153 stores as of Dec’23)

✓ Private Label Sales share increased to ~44% of Total Sales in 9MFY25 (vs 37% in 9MFY24)

Key Operational Metrics – Q3FY25

Store Count (No.)

199

153

Rental Area of Stores (Mn Sq Ft)

1.79

1.39

Average Store Size (Sq Ft)

No of Bills (Mn)

9,114

8,998

4.26

3.15

Q3FY24

Q3FY25

Q3FY24

Q3FY25

Q3FY24

Q3FY25

Q3FY24

Q3FY25

Quantity Sold (Mn)

Avg Transaction Value (Rs)

Sales Per Sq Ft (Rs)*

Same Store Sales Growth

13.04

9.84

1,135

1,031

859

826

50%

Q3FY24

Q3FY25

Q3FY24

Q3FY25

Q3FY24

Q3FY25

Q3FY24

*Per Month

-3%

Q3FY25

Key Operational Metrics – 9MFY25

No of Bills (Mn)

Quantity Sold (Mn)

Avg Transaction Value (Rs)

10.67

7.69

35.29

25.93

1,045

998

9MFY24

9MFY25

9MFY24

9MFY25

9MFY24

9MFY25

Sales Per Sq Ft (Rs)*

Same Store Sales Growth

737

10%

673

9MFY24

9MFY25

9MFY24

9MFY25

*Per Month

Sales Mix (1/2)

Apparels and General Merchandise

Apparels – Men, Women and Kids

Q3FY24 Revenue: Rs 3,330 Mn

Q3FY25 Revenue: Rs 4,114 Mn

Q3FY24 Revenue: Rs 2,850 Mn

Q3FY25 Revenue: Rs 3,588 Mn

Rs 480 Mn, 14.4%

Rs 2,850 Mn, 85.6%

 26% YOY

Rs 526 Mn, 12.8%

Rs 3,588 Mn, 87.2%

Rs 815 Mn 28.6%

Rs 1,214 Mn 42.6%

Rs 821 Mn 28.8%

Rs 1,020 Mn 28.4%

Rs 1,052 Mn 29.3%

Rs 1,515 Mn 42.2%

Apparels

General Merchandise

Apparels

General Merchandise

Men Women

Kids

Men Women

Kids

9MFY24 Revenue: Rs 7,485 Mn

9MFY25 Revenue: Rs 9,978 Mn

9MFY24 Revenue: Rs 6,300 Mn

9MFY25 Revenue: Rs 8,673 Mn

Rs 1,185 Mn, 15.8%

Rs 6,300 Mn, 84.2%

Rs 1,305 Mn, 13.1%

 38% YOY

Rs 8,673 Mn, 86.9%

Rs 1,742 Mn 27.7%

Rs 2,691 Mn 42.7%

Rs 1,867 Mn 29.6%

Rs 2,424 Mn 28.0%

Rs 3,658 Mn 42.2%

Rs 2,591 Mn 29.9%

Apparels

General Merchandise

Apparels

General Merchandise

Men Women

Kids

Men Women

Kids

Sales Mix (2/2)

Private Label Contribution (%)

Markets – Core and Focus

Q3FY24 Revenue: Rs 3,330 Mn

Q3FY25 Revenue: Rs 4,114 Mn

Q3FY24 Revenue: Rs 3,330 Mn

Q3FY25 Revenue: Rs 4,114 Mn

Rs 2,163 Mn, 64.9%

Rs 1,167 Mn, 35.1%

 35% YOY

Rs 2,542 Mn, 61.8%

Rs 1,572 Mn, 38.2%

Rs 395 Mn 11.9%

Rs 2,935 Mn 88.1%

Rs 658 Mn 12.9%

Rs 3,456 Mn 87.1%

Private Label

Others

Private Label

Others

Core Market*

Focus Market**

Core Market*

Focus Market**

9MFY24 Revenue: Rs 7,485 Mn

9MFY25 Revenue: Rs 9,978 Mn

9MFY24 Revenue: Rs 7,485 Mn

9MFY25 Revenue: Rs 9,978 Mn

Rs 4,732 Mn, 63.2%

Rs 2,753 Mn, 36.8%

 60% YOY

Rs 5,563 Mn, 55.8%

Rs 4,415 Mn, 44.2%

Private Label

Others

Private Label

Others

Rs 874 Mn 11.5%

Rs 6,611 Mn 88.5%

Rs 1,480 Mn 14.0%

Rs 8,498 Mn 86.0%

Core Market*

Focus Market**

Core Market*

Focus Market**

* Includes West Bengal, Odisha, Assam, Bihar ** Includes Jharkhand, Andhra Pradesh, Tripura, Uttar Pradesh, Arunachal Pradesh

P & L – Consolidated (IND-AS)

Particulars (Rs Mn)

Revenue From Operations

Other Income

Total Income

Costs of Goods Sold

Gross Profit

Gross Profit Margin

Employee Expenses

Other Expenses

EBITDA

EBITDA Margin

Finance Cost

Depreciation And Amortization

Profit Before Tax

Exceptional Items

Tax Expenses

PAT

PAT Margin

Q3FY25

Q3FY24

YOY

Q2FY25

QoQ

9MFY25

9MFY24

YoY

9,983

32%

10,055

69%

29.6%

810 bps

242%

1,240 bps

15.0%

4,116

4,135

2,563

1,553

37.7%

316

404

833

3,332

3,392

2,093

1,239

37.2%

224

256

758

22%

25%

55 bps

10%

20.2%

22.8%

-252 bps

173

271

408

104

304

114

192

513

129

383

-20%

-21%

3,109

3,131

2,188

921

291

387

244

7.8%

159

225

-119

-29

-89

443%

440%

6,602

3,381

33.9%

840

1,045

1,497

473

705

390

-108

211

2.1%

7.4%

11.5%

-411 bps

-2.9%

1,026 bps

7,494

7,580

4,964

2,529

33.8%

605

738

1,186

15.8%

355

537

380

284

3.8%

33%

34%

12 bps

26%

-83 bps

-26%

-168 bps

P & L – Standalone (IND-AS)

Particulars (Rs Mn)

Revenue From Operations

Other Income

Total Income

Costs of Goods Sold

Gross Profit

Gross Profit Margin

Employee Expenses

Other Expenses

EBITDA

EBITDA Margin

Finance Cost

Depreciation And Amortization

Profit Before Tax

Exceptional Items

Tax Expenses

PAT

PAT Margin

Q3FY25

Q3FY24

YOY

Q2FY25

QoQ

9MFY25

9MFY24

YoY

9,982

32%

10,054

69%

29.6%

810 bps

241%

1,239 bps

15.0%

4,116

4,135

2,563

1,553

37.7%

316

404

833

3,331

3,390

2,093

1,238

37.2%

224

255

759

22%

25%

55 bps

10%

20.2%

22.8%

-254 bps

173

271

408

104

304

114

192

513

129

384

-20%

-21%

3,109

3,131

2,188

921

290

387

244

7.9%

159

225

-118

-29

-89

445%

442%

6,602

3,381

33.9%

839

1,044

1,498

473

705

391

-108

211

2.1%

7.4%

11.5%

-412 bps

-2.9%

1,025 bps

7,492

7,579

4,964

2,529

33.7%

605

737

1,186

15.8%

355

537

380

284

3.8%

33%

34%

12 bps

26%

-83 bps

-26%

-167 bps

P & L – Consolidated (Pre-IND AS)

Particulars (Rs Mn)

Revenue From Operations

Other Income

Total Income

Costs of Goods Sold

Gross Profit

Gross Profit Margin

Employee Expenses

Other Expenses

EBITDA

EBITDA Margin

Finance Cost

Depreciation And Amortization

Profit Before Tax

Exceptional Items

Tax Expenses

PAT

PAT Margin

Q3FY25

Q3FY24

YOY

Q2FY25

QoQ

9MFY25

9MFY24

YoY

9,983

32%

10,000

4,116

3,332

4,121

2,563

1,553

37.7%

316

662

575

3,338

2,093

1,239

37.2%

227

439

573

23%

25%

55 bps

0.4%

3,109

3,115

2,188

921

69%

29.6%

810 bps

289

600

1683%

14.0%

17.2%

-321 bps

1.0%

1,294 bps

480

122

358

503

127

376

-5%

8.7%

11.3%

-259 bps

-73

-18

-56

-2%

753%

744%

1,049 bps

6,602

3,381

33.9%

840

1,714

827

8.3%

106

206

532

-108

108

317

7,494

7,509

4,964

2,529

33.8%

609

1,247

674

9.0%

161

437

110

326

33%

34%

12 bps

23%

-70 bps

22%

-3%

-118 bps

P & L – Standalone (Pre-IND AS)

Particulars (Rs Mn)

Revenue From Operations

Other Income

Total Income

Costs of Goods Sold

Gross Profit

Gross Profit Margin

Employee Expenses

Other Expenses

EBITDA

EBITDA Margin

Finance Cost

Depreciation And Amortization

Profit Before Tax

Exceptional Items

Tax Expenses

PAT

PAT Margin

Q3FY25

Q3FY24

YOY

Q2FY25

QoQ

9MFY25

9MFY24

YoY

4,116

3,331

4,122

2,563

1,553

37.7%

316

662

575

3,337

2,093

1,238

37.2%

227

438

573

3,109

3,115

2,188

921

32%

69%

29.6%

810 bps

289

600

1656%

24%

25%

55 bps

0.4%

14.0%

17.2%

-323 bps

1.1%

1,293 bps

488

122

366

501

127

374

-3%

-2%

-73

-18

-55

769%

764%

8.9%

11.2%

-234 bps

-1.8%

1,066 bps

9,982

9,999

6,602

3,381

33.9%

839

1,714

828

8.3%

106

206

533

-108

108

318

3.2%

7,492

7,508

4,964

2,529

33.7%

609

1,246

674

9.0%

161

437

110

327

33%

34%

12 bps

23%

-70 bps

22%

-3%

4.4%

-118 bps

Branding Initiatives (1/2)

Branding Initiatives (2/2)

New Stores Opened During Q3FY25

Titabar, Assam

Taramandal, Uttar Pradesh

Mau, Uttar Pradesh

Nautanwa, Uttar Pradesh

Itanagar, Arunachal Pradesh

Robertsganj, Uttar Pradesh

Company Overview

Style Baazar – One Of The Leading Value Fashion Retailers

About the Company

Product Offerings

Baazar Style Retail Ltd is a Value Fashion Retailer established in 2013 and based in Kolkata.

We are a one-stop shop catering:

✓ Family-Oriented Shopping

✓ Customer-Centric

✓ Affordable Fashion

✓ Trendy Indian Fashion

✓ Wide Range of Products

✓ Quality Assurance

Men

Women

Kids

Home

Capabilities

(9MFY25)

Sales

(9MFY25)

Financials

(9MFY25)

199 Stores 1.79 Mn Rental Sq. Ft

9 States 170 Cities

8,998 Sq. Ft Average Store Size

10% Same Store Sales Growth (SSG)

10 Private Labels 44% share in Revenue

10.67 Mn No. of Bills

Rs 998 Average Transaction Value

Rs 8,844 Sales Per Sq. Ft

~73% Repeat Customers

87% Apparel* 13% General Merchandise*

Rs 9,983 Mn Revenue from Operations

Rs 3,381 Mn Gross Profit

Rs 1,497 Mn EBITDA

Rs 211 Mn PAT

Rs 676 Mn Net Cashflow From Operations^

*Sales Mix, ^ as of H1FY25

Our Growth Story

• Incorporated on June 3, 2013.

• 1st Store Opened in September 2013 at Berhampore, WB

2 Stores

• Entered into New

geography Bihar and Tripura.

• Retail space crossed

0.17 mn sq. ft.

• Entered into New geography

Andhra Pradesh.

• Crossed Rs 5,000 mn Revenue.

• Retail space crossed 0.70 mn

sq.ft.

• Incorporation of our wholly-

owned Subsidiary.

• Crossed an aggregate of 1.79

mn sq.ft. of retail space.

• Successfully completed IPO and shares listed on NSE & BSE in Sep’24.

• Entered into new Geography Odisha.

• Retail space crossed 0.10 mn + sq. ft.

• Covered Rs 1,000 mn

Revenue

11 Stores

19 Stores

72 Stores

• Entered into New

geography Assam and Jharkhand.

• Private equity round- Fund raised from Late Rakesh Jhunjhunwala, Intensive Group

• Entered into New geography Uttar Pradesh and Chhattisgarh.

• Retail space crossed

1.20 mn sq.ft.

199 Stores

38 Stores

135 Stores

2014

2016

2017

2018

2019

2023

2024*

*As on 31st December 2024

Key Business Strengths

Value Retailer

Cost Efficiency

One of the Fastest growing Value Retailer in eastern India with market leadership in West Bengal and Odisha

High operational efficiency and lean cost structure due to strong focus on business processes and automation

Expansion

Marketing Activities

Accelerated store expansion through a Cluster-based Approach

Targeted marketing and promotion activities enabling increasing brand salience and garnering customer loyalty

Strong Clientele

Strong Management

Strong understanding of customer preferences to offer a comprehensive, targeted and affordable product mix along with our private label brands leading to customer loyalty.

Experienced promoters and a strong management team with a proven track record, backed by investors.

Fastest Growing Value Retailer in Eastern India…

North & East Region market share for Value Retail (Lifestyle & Home) (Rs Cr)

Store Count - Core and Focus Market

3,09,867 47%

CAGR ~14%

4,58,675 47%

North & East Region South & West Region FY 2024

North & East Region South & West Region FY2027 P

* Includes West Bengal, Odisha, Assam, Bihar ** Includes Jharkhand, Andhra Pradesh, Tripura, Uttar Pradesh, Arunachal Pradesh

135

114

FY23

162

132

FY24

Core Market*

Focus Market**

Total Stores

Revenue - Core and Focus Market (Rs Mn)

7,879

740

7,139

FY23

9,729

1,209

8,520

FY24

106

FY22

5,511

431

5,080

FY22

Core Market*

Focus Market**

Total Stores

…Through A Cluster-based Approach

18 Uttar Pradesh

23 Bihar

72 West Bengal

Cluster Based Expansion Strategy Enables

✓ To increase efficiencies in supply chain and inventory

management processes

32 Assam

✓ Strengthen brand visibility in local markets

Tripura

Arunachal Pradesh

Jharkhand

33 Odisha

Andhra Pradesh

✓ Optimize marketing expenditure

✓ Efficient utilization of our human capital

Accelerated Retail Area and Store Growth

✓ Increased the Rental Area from 1.02 Mn Sq Ft in FY22

to 1.47 Mn Sq Ft in FY24.

✓ Increased the store count from 106 in FY22 to 162 in

Stores

FY24, Strong CAGR of 24%

One Stop Family Experience With Comprehensive Quality Product Offering At Affordable Pricing

Product Offering Across Categories

FASHION APPAREL SEGMENT*

84%

Men’s Wear

Women’s Western Wear

Kids’ Wear

Athleisure

Bottom Wear

Ethnic Wear

Night Wear

Wearables & Accessories

GENERAL MERCHANDISE*

16%

Home Decor

Household Products

Home Furnishings

Home / Kitchen Appliances

Bags

Travel Accessories

Lifestyle Products

Footwear

Private Label Brands Leading To Customer Loyalty

s ’ n e M

e r a p p A

s ’ n e m o W

e r a p p A

s ’ d K

e r a p p A

a r e n e G

e s i d n a h c r e M

Private Label Brands: Our Mantra For Success

• A formidable growth engine, contributing significantly to revenues (~44% In 9MFY25)

• Greater control over sourcing

• Enhanced customer loyalty with repeat purchases from existing customers

CAGR: 64.6%

25%

1,362

FY22

38%

3,690

31%

2,477

FY23

FY24

Private Label Sales (Rs Mn) Private Label (% of Revenue)

*As of FY24

High Operational Efficiency and Lean Cost Structure led by Focus On Business Process & Automation

Financial Information And Data Management

Warehouse And Inventory Management

Tableau

Helps us to understand the fashion trends in different geographies thereby enabling us to optimize inventory and prioritize production and marketing of the best-selling SKUs on real-time basis & forecast the trends in the market.

CRM

Through our customer relationship management system (‘CRM’), to provide special offers to loyal customers to induce repeat purchases.

Ginesys

Backup solution for Ginesys database in order to minimize downtime if any and to provide uninterrupted operation of Ginesys application.

Use an integrated and robust information technology system.

Auto replenishment system and WMS

Provides with seamless assistance in the management of central warehouse.

Supplymint

Helps by improving the efficiency of warehouse management through reducing the dispatch time and to effectively manage risks

Integrated & Robust IT Systems

Our information technology systems provide information across our stores, warehouse and corporate office on a daily basis, for procurement, inventory management and store management enabling us to react quickly to changing customer preferences

Using in-house built technology to decide on the allocation of goods, based on average daily sales, projected sales, festivals and seasons, lead-time for replenishment and buffer stock to be kept at the stores.

Brand Salience Leading to Customer Loyalty

Marketing Spend (Rs Million & % of Sales)

Inhouse Marketing Personnel

1.65%

161

1.52%

119

FY23

FY24

FY22

FY23

FY24

1.41%

FY22

Repeat Purchases

• Loyalty Programs & CRM drives Repeat Purchases

72%

• Social Patronage (Followers across all social media platforms) ~1,70,000

70%

69%

FY22

FY23

FY24

• Cumulative Customer Base (Using both ATL and BTL activities to drive maximum store footfalls)

11.26 Million

Awards & Achievements

IMAGES Most Admired Fashion Retailer of the Year: Large Format Regional MBO Chain

Pride of Bengal Award Century ply (Edition 2.0)

Emerging Retailer of the Year Award For innovative, disruptive in the last five years by Bhartiya City Centre

Industry Leader in Fashion Retail By the Times Group ET Industry Leader Award

Trade Excellence Award by Confederation of West Bengal Trade Associations.

Strong Promoters and Experienced Board of Directors

Promoters

Pradeep Kumar Agarwal Chairman and WTD

Shreyans Surana Managing Director

Rohit Kedia Whole-time Director

Bhagwan Prasad Whole-time Director

Rajendra Kumar Surana Mentor

Board of Directors

Ushma Seth Sule Nominee Director

Dr. Dhanpat Ram Agarwal Independent Director

Richa Manoj Goyal Independent Director

Prashant Singhania Independent Director

Saurabh Mittal Independent Director

Rishabh Narendra Jain Independent Director

Rajendra Kumar Gupta Promoter

Track Record of Robust Growth (1/2)

Revenue (Rs Mn)

Gross Profit (Rs Mn) & Margin (%)

EBITDA (Rs Mn) & Margin (%)

9,729

7,879

5,511

33.5%

3,260

32.2%

2,540

31.8%

1,753

14.6%

1,422

12.9%

1,015

12.4%

683

FY22

FY23

FY24

FY22

FY23

FY24

FY22

FY23

FY24

PAT (Rs Mn)

219

ROCE

14%

18%

ROE

11%

-7%

FY23

FY24

FY22

FY23

FY24

FY22

FY23

FY24

-80

FY22

Track Record of Robust Growth (2/2)

Store Count (No.)

Rental Area of Stores (Mn Sq Ft)

Average Store Size (Sq Ft)

No of Bills (Mn)

162

135

106

1.47

1.25

1.02

9,628

9,289

9,046

5.75

10.04

8.22

FY22

FY23

FY24

FY22

FY23

FY24

FY22

FY23

FY24

FY22

FY23

FY24

Quantity Sold (Mn)

Avg Transaction Value (Rs)

Sales Per Sq Ft (Rs)

Same Store Sales Growth

33.69

1,026

1,041

1,039

7,445

7,758

6,190

24.95

17.58

25.7%

17.0%

9.5%

FY22

FY23

FY24

FY22

FY23

FY24

FY22

FY23

FY24

FY22

FY23

FY24

Key Growth Strategies

Strengthen Market Position

Aim to expand store count:

• Through deeper penetration in

core markets*

• Forming new clusters in focus

markets**

Technology Adoption • Continue to improve operational efficiency through investment in technology adoption initiatives, data analytical capabilities.

• Implementation of omni-channel

retailing business model

Supply Chain Management

Continue to invest in strengthening our supply chain management and human capital to further reduce our operating costs

Private Label

Focus towards creating differentiation and achieving: • Greater control over product

quality of private labels • Further margin expansion

* Includes West Bengal, Odisha, Assam, Bihar ** Includes Jharkhand, Andhra Pradesh, Tripura, Uttar Pradesh, Arunachal Pradesh

Annual Financials

P & L – Consolidated (IND-AS)

Particulars (Rs Mn)

Revenue From Operations

Other Income

Total Income

Costs of Goods Sold

Gross Profit

Gross Profit Margin

Employee Expenses

Other Expenses

EBITDA

EBITDA Margin

Finance Cost

Depreciation And Amortization

Profit Before Tax

Exceptional Items

Tax Expenses

PAT

PAT Margin

FY22

5,511

100

5,611

3,758

1,753

31.8%

464

605

684

12.4%

354

530

-100

-20

-80

-1.5%

FY23

7,879

7,944

5,339

2,540

32.2%

685

840

1,015

12.9%

414

612

0.6%

FY24

9,729

9,828

6,469

3,260

33.5%

845

993

1,422

14.6%

494

735

292

219

2.2%

Balance Sheet – Consolidated (IND-AS)

Assets (Rs Mn)

Mar 22 Mar 23 Mar 24

Sep 24

Liabilities (Rs Mn)

Mar 22 Mar 23 Mar 24

Sep 24

Property, Plant & Equipment

1,052

1,346

1,902

2,191

Share Capital

333

349

Capital Work-in-progress

Intangible Assets

Intangible Assets Under Development

Right-of- Use Assets

Financial Assets/Investments

Deferred tax assets (net)+Tax assets (net)

Other Non-current Assets

Total Non-current Assets

Inventories

Trade Receivables

Cash And Bank Balances

Other Current Assets, Financial Assets And Current Tax Assets

Current Assets

Total Assets

2,806

3,327

4,285

5905

Other Equity

Total Equity

Borrowings

Lease Liability

373

3426

1,105

1,587

1,802

1,438

1,936

2,151

3,799

170

181

291

2,798

3,435

4,405

5,984

133

128

4,155

2,804

245

339

3,387

7,542

169

150

5,018

3,169

432

3,653

8,671

197

159

6,627

4,329

149

555

5,032

239

194

8,611

4,478

585

1212

6275

Deferred Tax Liabilities

Other Liabilities & Provisions

Non-current Liabilities

2,988

3,637

4,712

6,053

Borrowings

Lease Liability

Trade Payables

845

281

971

316

1,491

388

632

451

1,802

1,660

2,618

3,212

Other Current Liabilities

188

151

299

740

Current Liabilities

3,116

3,098

4,796

5,035

11,660

14,887

Total Liabilities

7,542

8,671

11,660

14,887

Cashflow – Consolidated (IND-AS)

Particulars (Rs Mn)

Net Cash Flow From Operating Activities

Cash Generated/ (Used) In Investing Activities

Cash Generated/ (Used) In Financing Activities

Net Increase/(Decrease) In Cash And Cash Equivalents

Cash and Cash Equivalents at the beginning of the year

Cash and Cash Equivalents at the end of the year

FY22

155.9

-265.3

285.3

175.9

230

FY23

329.1

-430.2

-77.2

-178.3

230

FY24

1116.2

-845.4

-181.4

89.4

141

H1FY25

676.0

-393.1

153.2

436.0

141

577

Annexure

Store Images

Connect

CIN No. U18109WB2013PLC194160

Mr Abinash Singh

abinash.singh@stylebaazar.com

Stellar IR Advisors Pvt. Ltd.

Rajesh Agarwal | Suyash Samant

rajesh@stellar-ir.com | suyash@stellar-ir.com

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