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Shoppers Stop Ltd Interim / Quarterly Report 2019
61501_rns_2019-01-29_1e318175-8b02-429a-bcd3-f0742b27be98.pdf
Interim / Quarterly Report
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Q U A R T E R L Y P E R F O R MA N C E D E C 1 8 - 1 9
27years of Customer Delight
1
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 a 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 manage growth, intense competition including those factors which may affect our 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.
OUR GENESIS
- Customers come through our doors for our superior product assortment, but we want them to stay for the moments of personal transformation they experience in our aisles.
- Customers click onto our shopping site for convenience, but we want them to come back for the sheer joy and promise of adding to their shopping carts.
- Our people are our greatest strength. All of us are highly engaged which makes us the best customer centric company in the country.
OUR CUSTOMER
- Our core customers are Mid-High Income families & Young Professionals.
- We also target millennial consumers via Social Media and our Website.
- These young millennials are key Purchase Influencers for Parents and Family.
OUR FORMATS
SHOPPERS STOP | 83 Department Stores
• India's foremost fashion & beauty retailer offering 400+ brands.
Beauty Formats |113 Stores
• M.A.C | 57 Clinique| 32 Estèe Lauder| 8 Bobbi Brown| 14 Smashbox| 2
HOMESTOP| 12 Stand alone
• Premium home concept store.
Shoppersstop.com
• Our shopping website and mobile app have more than 120,000+ styles across different categories and sub-categories to choose from.
CROSSWORD| 87 Stores (43 Owned | 44 Franchisee)
• The definitive place for seeking information, knowledge or simply the pleasure of reading
+53 Million +25,000 +1.5 Million
- Platform frequently used by Millennials and Young Professionals to converse with us
- Buy Online and Collect from the Store(50 stores)
- Ship from Store for fulfillment of Online Orders(37 stores)
- Buy Online and Return at the Store
- Irresistible Style Hub disseminating Latest Fashion Tips
- Cardless First Citizen Program
7
5.9 Million 76%
• We listen closely to our customers and understand the way they think and buy.
• Our popular first citizen loyalty program is one of the longestrunning loyalty program in the country
• We have a dedicated analytics team to analyze the proprietary first citizen data.
| 1260+9.9% | 100.5+22.7% | 86.5 | +307.6% |
|---|---|---|---|
| RevenueRs in Crs. | EBIDTA | PBT | |
| 4.27 | 38 | ||
| Retail Space (Million Sq Ft) | Cities |
#As on 31-12-2018
New Store Additions during Q3-18-19
MAC Store : VR Mall Chennai MAC Store : Vastrapur Ahemdabad
MAC Store : Logix Mall Noida
BOBBI BROWN Store : VR Mall Chennai
BOBBI BROWN Store : Quest Mall Kolkatta
Operational Indicators - Q3-2018-19
Q3-17-18 Q3-18-19
Sales Growth– Q3-2018-19
11
Merchandise Mix – Q3-2018-19
Revenue Mix – Q3-2018-19
Financial Summary : Shoppers Stop Limited : Q3:2018-19
| Rs in Crs. | Q3-2018-19 | Q3-2017-18 | |
|---|---|---|---|
| Retail Sales | 1,260 | 1,146 | 9.9% |
| Margin on Sales | 417 | 367 | |
| Margin on Sales % | 33.1% | 32.1% | |
| Other Retail Operating Income | 17 | 15 | |
| Operating expenses | 334 | 300 | |
| Operating expenses % | 26.5% | 26.2% | |
| Operating Profit (EBIDTA) | 100 | 82 | 22.7% |
| Operating Profit (EBIDTA) % | 8.0% | 7.1% | |
| Finance Charges (Net) | 4 | 7 | |
| Depreciation | 28 | 30 | |
| PBT (Before Exceptional Item) | 69 | 44 | 58.9% |
| PBT% | 5.5% | 3.9% | |
| Exceptional Items /OCI | (17) | 22 | |
| PBT (After Exceptional Item /OCI ) | 86 | 22 | |
| PBT (After Exceptional Item) /OCI % | 6.8% | 1.9% | |
| Tax | 25 | 11 | |
| PAT / Total Comprehensive Income | 61 | 11 | |
| PAT / Total Comprehensive Income% | 4.9% | 1.0% |
Exceptional Item includes Mark to Market impact on Future Retail Investments : Rs 18.07 Crs
Note : Figures have been regrouped for Presentation purpose. 14
Financial Summary : Shoppers Stop Limited : YTD Dec 2018-19
| Rs in Crs. | YTD -2018-19 | YTD -2017-18 | ||
|---|---|---|---|---|
| Retail Sales | 3,384 | 3,182 | 6.3% | |
| Margin on Sales | 1,120 | 1,034 | ||
| Margin on Sales % | 33.1% | 32.5% | ||
| Other Retail Operating Income | 46 | 40 | ||
| Operating expenses | 966 | 906 | ||
| Operating expenses % | 28.5% | 28.5% | ||
| Operating Profit (EBIDTA) | 200 | 168 | 19.5% | |
| Operating Profit (EBIDTA) % | 5.9% | 5.3% | ||
| Finance Charges (Net) | 4 | 26 | ||
| Depreciation | 90 | 85 | ||
| PBT ( Before Exceptional Item) | 107 | 57 | 88.5% | |
| PBT% | 3.1% | 1.8% | ||
| Exceptional Item /OCI | 25 | 56 | Exceptional Item includes | |
| PBT (After Exceptional Item /OCI) | 82 | 1 | Mark to Market impact onFuture Retail Investments : Rs | |
| PBT (After Exceptional Item /OCI) % | 2.4% | 0.0% | 22.59 Crs | |
| Tax | 39 | 16 | ||
| PAT / Total Comprehensive Income | 43 | -15 | ||
| PAT / Total Comprehensive Income% | 1.3% | -0.5% |
Balance Sheet : Shoppers Stop Limited : Standalone
| Particular | Dec,18 | Mar,18 |
|---|---|---|
| Networth | 990.0 | 953.4 |
| Loan Fund | 52.7 | 87.4 |
| Total Liabilities | 1,042.8 | 1,040.7 |
| Fixed Assets & Lease Deposit | 827.3 | 832.4 |
| Investment | 290.6 | 305.2 |
| Investment in Mutual Fund | 165.7 | 20.0 |
| Inventory | 1,161.8 | 328.4 |
| Debtors , loans and Advances | 253.8 | 276.4 |
| Total Current Assets | 1,415.6 | 604.8 |
| Trade Creditors | 1,426.9 | 488.6 |
| Other liabilities and provisions | 229.6 | 233.2 |
| Total Current Liability | 1,656.4 | 721.8 |
| Net Current Assets | (240.9) | (116.9) |
| Total Assets | 1042.8 | 1040.7 |
| Particulars | YTD Dec 18(12 monthsAnnualized ) | 2017-18 |
|---|---|---|
| ROCE | 14.2% | 9.1% |
| ROCE (withoutInvestment) | 19.9% | 13.9% |
| RONW | 9.3% | 7.2% |
| RONW (without Investment) | 13.5% | 13.8% |
| DebtEquity Ratio | 0.0 | 0.0 |
| AssetTurnover Ratio | 6.9 | 6.3 |
Investment Includes : Rs 50.72 Crs. : Crossword Book Store Limited Rs 255.44 Crs. : Future Retail Limited ( MTM provn Rs.15.6 Crs.)
Note : Figures have been regrouped for Presentation purpose.
Cashflow: Shoppers Stop Limited : Standalone
| Particulars | Cash Flow |
|---|---|
| Cash Profit from Operations (after tax) | 161.3 |
| Increase in Creditors for Goods | 921.4 |
| Increase in Other Creditors and Liabilities | 25.4 |
| Increase in Inventories | (833.4) |
| Increase in Loans & Advances & Sundry Debtors | 22.8 |
| Cash generated from Operations | 297.6 |
| Fixed Assets(including CWIP) & Deposit. | (80.6) |
| Reduction in Creditors for Capex | (12.3) |
| Cash generated from Operations | 204.7 |
| Investment in Mutual Funds | (145.7) |
| Crossword Book Store Limited -ICD's | (8.0) |
| Cash generated post Investing Activities | 51.1 |
| Cash generated from Financing Activities ( Dividend ,and loanrepayment) | (47.1) |
| Net Increase/(decrease) in Bank Balance | 4.0 |
- Key Growth Engine for Business
- Increase the share of First Citizen customers
- Fashion forward positioning
- Focus on Private Brands to bring differentiation
• Exceed customer's expectation by providing delightful shopping experience in a personalized way
• Be a dominant player in Beauty segment across all channels
Awards won in 2018
- Great Place to Work 2018 Recognized among Top 10 Retail Companies in India
- Best Customer Experience in Retail Sector in Large/Multi Brand Format
- Best Loyalty Program in Retail Sector in Large/Multi Brand Format
- Best use of Innovation in Loyalty Marketing
- Best use of Customer and Data Analytics in Loyalty Program
- Best use of Direct Marketing in Loyalty Program
- Industry Excellence in Supply Chain Retail Award for the 3rd
Consecutive year at 12th ELSC Leadership Awards
- IMAGES Most Admired Retailer of the year Store Design & Visual Merchandise
- Best Technology in HR at Manning Modern Retail 2018
- DMA Asia ECHO Awards 2018 for Best Recommender System
- ABCI awarded our Annual Report as Silver Annual Report
