Shoppers Stop Limited · NSE:SHOPERSTOP
Shoppers Stop — Q2 FY23 Earnings Presentation
40 slides from Shoppers Stop's earnings presentation, Oct 20, 2022
Slide 1: Press Release and Investor Presentation filing letter
SHOPPERS STOP SEC/71/2022-23 October 19, 2022 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Fort, Bandra-Kurla Complex, Bandra (East), Mumbai 400 001. Mumbai 400 051. Stock Code : 532638 Stock Symbol : SHOPERSTOP Dear Sir / Madam, Sub.:
Slide 2: Shoppers Stop declares highest ever Q2 Sales and EBITDA
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 Bol
Slide 3: Strategic pillars performance and About Shoppers Stop
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 C
Slide 4: Performance Highlights Q2 FY23
PERFORMANCE HIGHLIGHTS Q2 FY23 1 KASHISH
Slide 5: Key Highlights, Expansion, Strategic Pillars, Company Financials
1 KEY HIGHLIGHTS 2 EXPANSION 3 STRATEGIC PILLARS 4 COMPANY FINANCIALS 2 HAUTE CURRY
Slide 6: Market Outlook
MARKET OUTLOOK Customer Industry • Customer confidence at its peak with • Innovate, Differentiate and Accelerate increased spending and enthusiasm • Redefining customer experience through • 78% of customers engage with offers, technology upgradation and innovation if personalized to their previous •
Slide 7: Q2 Highlights
Q2 HIGHLIGHTS (Non GAAP) BEST EVER Q2 PERFORMANCE • 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 F
Slide 8: Q2 in Numbers
Q2 in Numbers (Vs FY22) Revenue (Non GAAP) Profitability (Non GAAP) 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 Renovati
Slide 9: Operational KPIs
OPERATIONAL KPIs Customer Visits (Mn) ATV (Rs/-) 45 00 4400 43 00 4200 4100 4000 3900 3800 3700 3600 3500 3400 3300 3200 3100 3000 2900 2800 40.8 2700 2600 2500 2400 2300 4,069 2200 3,760 2100 2000 1900 29.8 3,221 3,303 1800 1700 1600 25.3 1500 1400 1300 1200 20.5 1100 1000 900 800 700 600 500 400 3
Slide 10: Yearly Trend (Non GAAP)
(Rs in Crs) YEARLY TREND (NON GAAP) 32.8% Sales 410 32.4% Margin 34.0% 1101 1001 30.9% 32.0% 27.1% 901 310 30.0% 801 701 28. 0% 601 1,070 1,270 210 416 501 347 26. 0% 401 301 785 110 242 24.0% 201 101 371 101 22.0% 10 20. 0% 1 Q2FY20 Q2FY21 Q2FY22 Q2FY23 Q2FY20 Q2FY21 Q2FY22 Q2FY23 EBITDA PBT 80 75
Slide 11: Yearly Trend (GAAP)
YEARLY TREND (GAAP) (Rs in Crs) Sales (Net of GST) 1100 1000 45 0 Margin 41.2% 41.0% 900 41.4% 39.0% 350 800 38.2% 700 37.0% 600 1,008 415 250 500 400 845 350 32.5% 35.0% 300 200 632 150 241 33.0% 100 292 95 0 50 31.0% Q2FY20 Q2FY21 Q2FY22 Q2FY23 Q2FY20 Q2FY21 Q2FY22 Q2FY23 EBITDA PBT 160 140 24 120
Slide 12: Key Highlights, Expansion, Strategic Pillars, Company Financials
1 KEY HIGHLIGHTS 2 EXPANSION 3 STRATEGIC PILLARS 4 COMPANY FINANCIALS 9 LIFE
Slide 13: Store Footprint
STORE FOOTPRINT 266 Stores ll ll l l 3.8M sq.ft.# l l l llll l lll ll l Stores Footprint as on 30th Sept22 l l l l l l l l l l l l l l l l Format Store count l l l l l ll l l l l l l l l l Department store 91 ll l l l l l l l l l Home Stop 11 l l ll l l l l l l l Beauty Stores 139* l l l l l Airport
Slide 14: Investing for Growth
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 47 Technology/Others 9 Omni (Opex) 12 Total 68 11 HOMESTOP
Slide 15: New - Dehradun Store
NEW - DEHRADUN STORE SHOPPERS STOP Way ia K OF 2
Slide 16: New - SSBeauty Store - Green Park, New Delhi
NEW - SSBEAUTY STORE - GREEN PARK, NEW DELHI 13
Slide 17: New - SSBeauty Store, Kolkata City Centre
NEW - SSBEAUTY STORE, KOLKATA CITY CENTRE 14
Slide 18: Renovated - Ahmedabad, Alpha-One
RENOVATED - AHMEDABAD, ALPHA-ONE 15
Slide 19: Renovated - Vizag Shoppers Stop
RENOVATED - VIZAG SHOPPERS STOP 16
Slide 20: Key Highlights, Expansion, Strategic Pillars, Company Financials
1 KEY HIGHLIGHTS 2 EXPANSION 3 STRATEGIC PILLARS 4 COMPANY FINANCIALS 17 LIFE
Slide 21: Strategic Pillars
STRATEGIC PILLARS Growth Vs FY22 9.2M +76% +45% +8% SALES FIRST CITIZEN PRIVATE BRANDS BEAUTY OMNI-CHANNEL CONTRIBUTION 77% 15% 15% 5% +52% +13% +212% 18 Growth Vs FY20
Slide 22: First Citizen
FIRST CITIZEN 1. Sales contribution: • Offline 77% (New Member 16%) • Online 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 drop
Slide 23: First Citizen
FIRST CITIZEN First Citizen Black Customers • Enrolment 15.5K new customers All Time High • ATV 2X of First Citizens • Members Spend 4x of First Citizens • Engagement and experiences created for Black card customer has got an overwhelming response • Adventurous Mahindra Jeep ride • Entertainment Puj
Slide 24: Sanya x Kashish Festive Campaign
Sanya x Kashish Festive Campaign 21 KASHISH
Slide 25: Private Brands
PRIVATE BRANDS Sales Rs.192 Crs +76% • PB Contribution • Overall 15% • Apparels 21% Sales and Contribution % • Kids continue to outperform 15.2% 15.5% • Value +93% • Volume +47% 11.8% 13.9% • Indian-wear and Women western wear brand “Fratini” grew 192 by 2x and Men’s Indian wear brand “Bandeya” grew
Slide 26: Beauty
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 expe
Slide 27: Omni Channel
OMNI CHANNEL Sales Rs.64 Crs +8% App Downloads 900K in Q2 15.5M Cumulative Sales and Contribution % • Exclusive Collaboration with “GOAT Brand Labs” to sell D2C Brands to appeal Young audience 5.0% 7.5% • 20 Online Exclusive brands launched • 25% of Online sales are from cities wherein Shoppers not
Slide 28: Key Highlights, Expansion, Strategic Pillars, Company Financials
1 KEY HIGHLIGHTS 2 EXPANSION 3 STRATEGIC PILLARS 4 COMPANY FINANCIALS 25 HOME STOP
Slide 29: KPI Performance - Q2
Vs FY22 KPI PERFORMANCE - Q2 62% 180 bps 6762% Sales Gross Margin EBITDA Non GAAP 1270 416 75 GAAP 1008 415 176 60% 300 bps 27% (Rs Crs) 26 INFUSE
Slide 30: KPI Performance - YTD
Vs FY22 KPI PERFORMANCE - YTD 139% 290 bps (Rs 114 Crs) Sales Gross Margin EBITDA 2460 817 142 Non GAAP 1950 813 344 GAAP 134% 340bps 146% 27 (Rs Crs) ALTLIFE
Slide 31: Financials Q2 FY23
FINANCIALS Q2 FY23 Particulars Non GAAP GAAP Rs. in Crs. FY23 FY22 Gr% FY23 FY22 Gr% Revenue 1270 785 62% 1008 632 60% Other Income 20 8 159% 4 68 -94% Adjustment in Net Profit GAAP Adj Total Revenue 1290 792 63% 1012 699 45% PBT (as per Non GAAP) 34 Margin 416 243 71% 415 241 72% Lease Rent (Non-GA
Slide 32: Financials YTD FY23
FINANCIALS YTD FY23 Particulars Non GAAP GAAP Rs. in Crs. FY23 FY22 Gr% FY23 FY22 Gr% Revenue 2460 1031 139% 1950 833 134% Other Income 36 11 228% 9 132 -93% Total Revenue 2496 1042 140% 1960 964 103% Adjustment in Net Profit GAAP Adj Margin 817 312 162% 813 319 155% PBT (as per Non GAAP) 66 Lease R
Slide 33: Balance Sheet
BALANCE SHEET Particulars Sep’22 Sep'21 Mar’22 Net worth 675 590 625 Loan Fund 134 213 194 Total Liabilities 809 802 819 Fixed Assets + Lease Deposit 766 708 732 Investments 125 137 163 Net Cash Rs. in Crs Inventory 1379* 884 1009 Cash & Investments 147 Other Assets 529 543 495 Total Current Assets
Slide 34: Cash Flow
CASH FLOW Particulars Sep'22 Sep'21 Mar’22 Cash Profit from Operations (before tax) 143 -112 -17 Changes in Working Capital -39 79 124 Cash generated from Operations 104 -33 106 Fixed Assets /Reduction in Capex Creditors -72 -32 -120 Cash generated from Operations 32 -65 -13 Redemption of Investment
Slide 35: Annexures
ANNEXURES
Slide 36: Financials Q2 FY23
FINANCIALS Q2 FY23 Particulars Non GAAP GAAP Rs. in Crs. FY23 FY22 Gr% FY23 FY22 Gr% Revenue 1270 785 62% 1008 632 60% Other Income 20 8 159% 4 68 -94% Total Revenue 1290 792 63% 1012 699 45% Margin 416 243 71% 415 241 72% Margin% 32.8% 30.9% 180 Bps 41.2% 38.2% 300 Bps Operating Exp. 361 249 45% 24
Slide 37: Financials YTD FY23
FINANCIALS YTD FY23 Particulars Non GAAP GAAP Rs. in Crs. FY23 FY22 Gr% FY23 FY22 Gr% Revenue 2460 1031 139% 1950 833 134% Other Income 36 11 228% 9 132 -93% Total Revenue 2496 1042 140% 1960 964 103% Margin 817 312 162% 813 319 155% Margin% 33.2% 30.3% 290 Bps 41.7% 38.3% 340 Bps Operating Exp. 711
Slide 38: Shoppers Stop facts as at 30th Sept'22
266 (1) Stores 9.2M 800+ FIRST CITIZENS BRANDS 15% Mix 5% Mix PRIVATE BRANDS ECOM FACTS as at 30th Sept’22 3.8 M 48 SQUARE FEET CITIES AREA 41 Mn WALK-INS in Q2 (2) 16.6K 1. Includes 54 Shop in Shops TALENT POOL 2. Including Brand staff 35 BANDEYA
Slide 39: Disclaimer
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 result
Slide 40: In case of any clarifications please contact [email protected]
In case of any clarifications please contact on [email protected]