STYLEBAAZANSE15 May 2025

Baazar Style Retail Limited has informed the Exchange regarding Corrigendum to Investor Presentation for the quarter and financial year ended on March 31, 2025.

Baazar Style Retail Limited

Date: May 15, 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: Corrigendum to the Investor Presentation on the Audited Standalone and Consolidated Financial Results of the Company for the quarter and financial year ended March 31, 2025.

In furtherance to the intimation dated May 14, 2025, regarding Investor Presentation on the Audited Standalone and Consolidated Financial Results of the Company for the quarter and financial year ended March 31, 2025, we hereby inform that on slide no 19 and 20 of the said investor presentation all figures are to be read in Million (Mn).

Enclosed herewith a copy of the updated Investor Presentation on Audited Standalone and Consolidated Financial Results of the Company for the quarter and financial year ended on March 31, 2025.

All the other contents of the Investor Presentation, save and except as amended by this corrigendum remains unchanged.

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 – Q4 & FY25

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

Q4 & FY25 Highlights

Business Strengths

Annual Financials

Annexure

Style Baazar – One Of The Leading Value Fashion Retailers in Eastern India

About the Company

Product Offering

✓ Established in 2013, Baazar Style Retail Ltd is a Value

Fashion Retailer based out of Kolkata

3-year CAGR

✓ Strong Retail footprint in Eastern India with leadership position in West Bengal and Odisha in terms of scale

~35% in Revenue

✓ Fast growing in terms of Revenue and Store Count

~26% in Store Count

with 214 Stores (31-Mar-25)

Men

Women

Kids

Home

Operational Metrics (FY25)

214 Stores 1.92 Mn Rental Sq. Ft

9 States 174 Cities

8,976 Sq. Ft Average Store Size

13% Same Store Sales Growth (SSG)

10 Private Labels 45% share in Revenue

14.4 Mn No. of Bills

Rs 997 Average Transaction Value

Rs 721 Sales Per Sq. Ft (Per Month)

~71% Repeat Customers

87% Apparel^ 13% General Merchandise^

Key Financials* (FY25)

Rs 13,437 Mn Revenue from Operations

Rs 944 Mn EBITDA

Rs 524 Mn PBT

*Pre-INDAS 116; ^Revenue Mix

Q4 & FY25 Highlights

Key Financial Highlights

Revenue from Operations (Rs Mn)

Gross Profit (Rs Mn) & Margin (%)

Adj. EBITDA (Rs Mn)* & Margin (%)

Adj. PBT* (Rs Mn)

 55 %

 59 %

 139 %

2,235

3,454

Q4FY24

Q4FY25

32.1%

33.1%

1,143

718

3.4%

117

2.2%

-8

-43

Q4FY24

Q4FY25

Q4FY24

Q4FY25

Q4FY24

Q4FY25

 38 %

 39 %

 31%

 33%

9,729

FY24

13,437

FY25

33.4%

33.7%

3,247

FY24

4,524

FY25

7.4%

722

FY24

7.0%

944

FY25

394

FY24

524

FY25

*Pre-INDAS 116

Key Operational Highlights

SSSG* (%)

Private Label share

Net Store Addition

Q4FY25

20%

47% (42% in Q4FY24)

FY25

13%

45%

FY24

10%

38%

Total Store Count

214 Stores

Total Rental Area

19.21 Lakh Sq Ft

Sales Per Square Feet (PSF) per month

Total No. of Bills

Rs 679  19% YoY

3.7 Mn  58% YoY

214 Stores  32% YoY

19.21 Lakh Sq Ft  31% YoY

Rs 721  12% YoY

14.4 Mn  43% YoY

162 Stores

14.65 Lakh Sq Ft

Rs 646

10 Mn

*Same Store Sales Growth: SSSG here is calculated as the growth in net revenue of all stores that have been operational for at least 18 months at the beginning of each quarter during FY25

Profit & Loss Highlights (Consolidated)

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

Adjusted EBITDA*

Adjusted EBITDA Margin*

Adjusted PBT*

Q4FY25

Q4FY24

YoY

3,454

3,471

2,310

1,143

33.1%

321

423

399

2,235

2,248

1,517

718

32.1%

240

243

236

11.6%

10.6%

217

294

-94

117

3.4%

-8

139

197

-88

2.2%

-43

54%

59%

96 bps

69%

100 bps

139%

119 bps

81%

FY25

13,437

13,527

8,913

4,524

33.7%

1,160

1,468

1,896

14.1%

690

999

296

944

7.0%

524

FY24

9,729

9,828

6,481

3,247

33.4%

845

981

1,422

14.6%

494

735

292

722

7.4%

394

YoY

38%

39%

29 bps

33%

-50 bps

31%

-40 bps

33%

*Pre-INDAS 116. Gross Profit and EBITDA do not include Other Income

Business Highlights

Fast Growing Value Retailer in Eastern India, through a Cluster-based Approach

Consistently Growing Store Count

135

21 114

162

132

214

171

FY23

FY24

FY25

106 11 95

FY22

Core Market*

Focus Market**

Total Stores

Net Sales - Core and Focus Market (Rs Mn)

7,871 739

7,132

9,719 1,208

8,510

13,428

2,066

11,362

FY23

FY24

FY25

5,505 431 5,074

FY22

Core Market*

Focus Market**

Total Stores

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

21 Uttar Pradesh

26 Bihar

77 West Bengal

Arunachal Pradesh

34 Assam

Tripura

Jharkhand

34 Odisha

Andhra Pradesh

Stores

Cluster Based Expansion Strategy Enables:

✓ To increase efficiencies in

Supply Chain and Inventory management processes

✓ To enhance Brand Visibility

in Local Markets

✓ Optimize Marketing Expenses

✓ Efficient utilization of Human

Capital

Providing a One-Stop Family Experience for Quality Products At Affordable Pricing

Comprehensive Product Offering Across Categories to Meet the Needs of the Entire Family

Tier 1, 2 and 3 Presence Across the Underpenetrated Tier-3&4 Markets

Men

Women

Kids

General Merchandise

Men’s Wear

Bottom Wear

Women’s Western Wear

Bottom Wear

Kids’ Wear

Bottom Wear

Home Decor

Household Products

48%

7% 5%

37%

Metro - Kolkata

Tier 1 (>10 lacs)*

Tier 2 (5-10 lacs)*

Tier 3 (1-5 lacs)*

Tier 4 (<1 lacs)*

* Census Population

Athleisure

Night Wear

Athleisure

Night Wear

Athleisure

Night Wear

Home Furnishings

Home / Kitchen Appliances

Ethnic Wear

Wearables & Accessories

Ethnic Wear

Wearables & Accessories

Ethnic Wear

Wearables & Accessories

Bags

Travel Accessories

Lifestyle Products

Footwear

Growing Private Label Contribution - Testament to Our Focus on Brand Building

Private Label Revenue CAGR of ~64% over the past 3 years

✓ Healthy portfolio of 10 Private Labels contributing to 45% of overall

45%

42%

38%

6,026

47%

Revenue or Rs 6,026 Mn in FY25

✓ Strategic focus on building brand visibility through attractive pricing, with

plans to shift to fair pricing once brand recall is established.

✓ One of our established brands, Square Up, crossed revenue of Rs 2,000 Mn

in FY25

✓ Private Label Revenue enable greater control over sourcing

3,687

✓ Enhances customer loyalty with repeat purchases from existing customers

1,610

933

31%

2,477

25%

1,363

FY22

FY23

FY24

FY25

Q4FY24

Q4FY25

Private Label Revenue (Rs Mn)

Private Label (% of Revenue)

Focusing on Marketing Spend to aid Future Growth

Marketing Spend (Rs Mn & % of Revenue)

1.41%

1.52%

1.65%

1.69%

119

161

227

FY23

FY24

FY25

FY22

Repeat Purchases (%)

72%

71%

70%

69%

FY22

FY23

FY24

FY25

Partnering with Regional Celebrities to Drive Greater Engagement

Social Patronage (Followers across all social media platforms) ~2,89,000

Cumulative Customer Base

(Using both ATL and BTL activities to drive maximum store footfalls) 15.82 Million

Branding Initiatives in Q4FY25

Experienced Promoters and 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 – Pre INDAS (1/2)

Revenue (Rs Mn)

Gross Profit (Rs Mn) & Margin (%)

 35% CAGR

 37% CAGR

13,437

32%

33%

9,729

7,879

5,511

3,247

2,540

1,753

34%

4,524

FY22

FY23

FY24

FY25

FY22

FY23

FY24

FY25

Adj. EBITDA (Rs Mn) & Margin (%)

Adj. PBT (Rs Mn)

 54% CAGR

722

944

452

524

394

172

FY23

FY24

FY25

FY22

FY23

FY24

FY25

256

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)

 102% CAGR

 88% CAGR

 150% CAGR

214

162

135

106

1.92

1.47

1.25

1.02

9,628

9,289

9,046

8,976

14.38

10.04

8.22

5.75

FY22

FY23

FY24

FY25

FY22

FY23

FY24

FY25

FY22

FY23

FY24

FY25

FY22

FY23

FY24

FY25

Quantity Sold (Mn)

Avg Transaction Value (Rs)

Sales Per Sq Ft (Rs)

Same Store Sales Growth

 168% CAGR

 40% CAGR

47.12

33.69

24.95

17.58

1,025

1,041

1,039

997

7,445

7,758

8,655

6,190

25.7%

17.0%

13.0%

9.5%

FY22

FY23

FY24

FY25

FY22

FY23

FY24

FY25

FY22

FY23

FY24

FY25

FY22

FY23

FY24

FY25

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

6,481

3,247

33.4%

845

981

1,422

14.6%

494

735

292

219

2.2%

FY25

13,437

13,527

8,913

4,524

33.7%

1,160

1,468

1,896

14.1%

690

999

296

-108

147

1.1%

*Gross Profit and EBITDA do not include Other Income

Balance Sheet – Consolidated (IND-AS)

Assets (Rs Mn)

Mar-22

Mar-23

Mar-24

Mar-25

Liabilities (in Mn)

Mar-22

Mar-23

Mar-24

Mar-25

Property, Plant & Equipment

1,052

1,346

1,902

2,534

Share Capital

333

349

373

Capital Work-in-progress

Intangible Assets

Intangible Assets Under Development

116

Right-of- Use Assets

2,806

3,327

4,285

7,647

Other Equity

Total Equity

Borrowings

Lease Liability

1,105

1,587

1,802

3,664

1,438

1,936

2,151

4,037

170

181

291

177

2,798

3,435

4,405

7,764

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

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

303

222

10,875

5,215

221

1,230

Deferred Tax Liabilities

Other Liabilities & Provisions

Non-current Liabilities

2,988

3,637

4,722

7,990

Borrowings

Lease Liability

Trade Payables

845

281

971

316

1,491

1,488

388

532

1,802

1,660

2,618

3,108

Other Current Liabilities

188

151

290

386

5,032

6,666

Current Liabilities

3,116

3,098

4,787

5,514

11,660

17,541

Total Liabilities

7,542

8,671

11,660

17,541

Annexure

Store Images

Connect

CIN No. L18109WB2013PLC194160

Mr Abinash Singh

abinash.singh@stylebaazar.com

Stellar IR Advisors Pvt. Ltd.

Pooja Sharma| Suyash Samant

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

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Baazar Style Retail Limited has informed the Exchange regarding Corrigendum to Investor Presentation for the quarter and financial year ended on March 31, 2025.

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