Shoppers Stop Limited · NSE:SHOPERSTOP
Shoppers Stop — Q4 FY23 Earnings Presentation
37 slides from Shoppers Stop's earnings presentation, Apr 27, 2023
Slide 1: Exchange cover letter: Press Release and Investor Presentation
SHOPPERS STOP SEC/13/2023-24 April 26, 2023 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.: P
Slide 2: Highest ever Q4 Revenue of Rs.1175 Crs, Annual Revenue Rs 5066 Cr
Press Release for immediate distribution Highest ever Q4 Revenue of Rs.1175 Crs +32% YoY & Annual Revenue of Rs 5066 Cr, up 63% YoY PBT for Q4 of Rs 14 Crs and Highest ever Annual PBT of Rs.164 Crs Q4 FY23 Results • Highest ever Q4 Revenue of Rs 1175 Cr, up 32% YoY • EBITDA Rs 55 Cr in Q4 FY23 vs (R
Slide 3: Key financial highlights for Q4 FY23 and fiscal year 2022-23
Our Private Brands Sales grew by 35%, and volume grew by 28%. The Beauty segment grew by 29%. For the full year our Private brands and Beauty grew by 70% and 54% respectively. We have begun distributing premium Beauty Brands from last quarter. We have added 15 brands with exclusive distribution righ
Slide 4: Performance Highlights Q4 FY23
PERFORMANCE HIGHLIGHTS Q4 FY23 LIFE 11
Slide 5: Key Highlights, Strategic Pillars, Financials
1 KEY HIGHLIGHTS 2 STRATEGIC PILLARS 3 FINANCIALS 2 FRATINI2
Slide 6: Market Outlook
MARKET OUTLOOK Customer Industry • Experiential retail is evolving • Tier I with higher value price points to rebound • Personalization going beyond the typical shopping experience • Slowdown in Discretionary consumption in rural Areas, particularly in Q4 • Sustainability gaining traction • Better s
Slide 7: Q4 Highlights
Q4 HIGHLIGHTS (Non GAAP) Financials Revenue Rs 1175 Crs +32% EBITDA Rs 55 Crs 5.3% of Net Sales PBT Rs 14 Crs 1.3% of Net Sales PAT Rs 10 Crs 1.0% of Net Sales Strategic Pillars Private Brand Rs 158 Crs +35% Beauty Rs 197 Crs +29% Launched plus size apparel brand “U R You” Expansion and Renovation •
Slide 8: FY23 At a Glance
FY23 At a Glance (Non GAAP) Financials Revenue Rs 5066 Crs +63% EBITDA Rs 324 Crs 7.3% of Net Sales PBT Rs 164 Crs 3.7% of Net Sales PAT Rs 121 Crs 2.7% of Net Sales Strategic Pillars Private Brand Rs 723 Crs +70% Beauty Rs 804 Crs +54% Expansion and Renovation • Expansion 11 Department + 12 Beauty
Slide 9: Quarterly Trend (Non GAAP)
QUARTERLY TREND (NON GAAP) (Rs in Crs) Sales Margin 1400 39.0% 37.7% 1300 1200 1100 400 37.1% 38.0% 1000 35.9% 37.0% 900 800 34.9% 700 36.0% 600 1175 300 384 916 890 500 825 35.0% 400 300 200 282 275 281 34.0% 100 0 200 33.0% Q4FY20 Q4FY21 Q4FY22 Q4FY23 Q4FY20 Q4FY21 Q4FY22 Q4FY23 5.3% EBITDA 6.0% P
Slide 10: Quarterly Trend (GAAP)
QUARTERLY TREND (GAAP) (Rs in Crs) 500 45 .0% 1200 Margin 1100 Sales 44.0% 1000 43.2% 400 43 .0% 900 800 42.0% 41.0% 700 600 500 916 300 40.1% 40.1% 396 41.0% 709 671 710 284 285 400 275 40.0% 300 200 39.0% 200 Q4FY20 Q4FY21 Q4FY22 Q4FY23 Q4FY20 Q4FY21 Q4FY22 Q4FY23 EBITDA PBT 250 19.6% 20. 0% 200 1
Slide 11: Yearly Trend (Non GAAP)
YEARLY TREND (NON GAAP) (Rs in Crs) Sales Margin 6000 5900 5800 5700 5600 2000 1900 37.5% 38.0% 5500 1800 36.9% 37.5% 5400 5300 1700 5200 5100 5000 1600 4900 37.0% 4800 1500 4700 4600 35.9% 45 00 1400 4400 36.5% 43 00 1300 4200 4100 4000 1200 3900 3800 36.0% 1100 3700 3600 3500 1000 3400 34.9% 1675
Slide 12: Yearly Trend (GAAP)
YEARLY TREND (GAAP) (Rs in Crs) 5000 2200 44.0% 4900 Sales Margin 4800 2100 4700 4600 2000 45 00 41.8% 4400 43 .0% 41.8% 1900 43 00 4200 4100 1800 4000 3900 1700 3800 42.0% 3700 1600 3600 3500 1500 3400 39.7% 3300 1400 41.0% 3200 3100 1300 3000 2900 1200 2800 2700 3998 40.0% 1100 2600 1671 2500 38.3
Slide 13: Operational KPIs (Offline and Online)
OPERATIONAL KPIs (Offline and Online) Customer Visits (Mn) 5000 4900 ATV (Rs/-) 4800 4700 4600 45 00 4400 43 00 4200 4100 4000 3900 3800 3700 3600 3500 3400 3300 3200 3100 3000 2900 2800 2700 2600 2500 2400 45.4 2300 4086 2200 3895 2100 2000 3398 3402 1900 35.5 36.2 1800 1700 1600 30.1 1500 1400 130
Slide 14: Strategic Pillars
1 KEY HIGHLIGHTS 2 STRATEGIC PILLARS 3 FINANCIALS STOP 11
Slide 15: Strategic Pillars
STRATEGIC PILLARS Growth Vs Q4 FY22 Additions in Q4 2 Dept 9.0M +35% +29% 1 Beauty SALES FIRST CITIZEN PRIVATE BRANDS BEAUTY EXPANSION CONTRIBUTION 77% 14% 17% (Q4 FY23) 11 Dept +70% +54% 12 Beauty Additions in FY23 Growth Vs FY22 12
Slide 16: First Citizen
FIRST CITIZEN Sales contribution: • Offline 77%, New Member 12% • Online 39% • Targeted Inactive members, 300K members, 29% of the Total members shopped • HDFC Co-brand increasing traction; 51K members joining the program in Q4 Black Card Members : • ATV 2X of First Citizens • Members Spend 4x of Fi
Slide 17: Private Brands
PRIVATE BRANDS (Vs Q4 FY22) Sales Rs.158 Crs +35% • PB Contribution • Overall 14% • Apparels 20% • “STOP” and “LIFE” amongst Top 5 Apparel brands Sales and Contribution % • Launched plus size apparel brand “U R You” 13.5% 16.0% 13.0% 13.2% 14.0% • Men's Indian wear brand “Bandeya” grew +129% 10.7% 1
Slide 18: Beauty
BEAUTY (Vs Q4 FY22) Sales Rs.197 Crs. +29% • 112K makeovers led to strong customer engagement, generated sales of Rs 40 Crs • Launched 1 SSBeauty Store In PMC, Chennai Vasant Kunj • Arcelia (Private Brand) • 40 SKUs launched under Makeup and Fragrances; Total Sales and Contribution % Portfolio of 45
Slide 19: Store Footprint
STORE FOOTPRINT 270 Stores 3.9M sq.ft.# Store Footprint as on 31st Mar23 Format Store count Department Stores 98 Home Stop 7 Beauty Stores 142* Airport Doors 23 *Includes 57 Shop in Shop # Carpet area 16 16
Slide 20: Investing for Growth
INVESTING FOR GROWTH STORE ADDITIONS FOR FY23 Metro Tier I Tier II/III Total 3 2 6 11 Investments (Rs In Crs) Q4 FY23 FY23 New Stores and Renovation 52 137 Technology/Others 12 29 Deposits for New Stores 16 40 Total 80 206 17 HOME STOP 17
Slide 21: New Store – Pacific Tower @ Jammu
New Store – Pacific Tower @ Jammu 18
Slide 22: New Store – Pluton Mall @ Rourkela
New Store – Pluton Mall @ Rourkela 19
Slide 23: New Store – PMC @ Chennai
New Store – PMC @ Chennai 20
Slide 24: Financials
1 KEY HIGHLIGHTS 2 STRATEGIC PILLARS 3 FINANCIALS 21 KASHISH HAUTE CURRY 21
Slide 25: KPI Performance – Q4
KPI PERFORMANCE – Q4 Vs FY22 (Rs Crs) +32% +120 bps Sales Gross Margin EBITDA* Non GAAP 1175 384 55 GAAP 916 396 179 +29% +300 bps +86% 22 *EBITDA Loss of Rs 13 Crs in Q4 FY22 FRATINI 22
Slide 26: KPI Performance - YTD
KPI PERFORMANCE - YTD Vs FY22 +63% +170 bps (Rs Crs) Sales Gross Margin EBITDA* 5066 1675 324 Non GAAP 3998 1671 755 GAAP +60% +210 bps +74% STOP KIDS *EBITDA Loss of Rs 27 Crs in FY22 23
Slide 27: Financials Q4 FY23
FINANCIALS Q4 FY23 Particulars Non - GAAP Financials GAAP Financials Rs. in Crs. FY23 FY22 Gr% FY23 FY22 Gr% Gross Revenue 1175 890 32% 1033 798 29% Net Revenue 1036 782 32% 916 710 29% Other Income 28 13 117% 21 20 8% Total Revenue 1063 795 34% 938 730 29% Margin 384 281 37% 396 285 39% Adjustment
Slide 28: Financials YTD FY23
FINANCIALS YTD FY23 Particulars Non - GAAP Financials GAAP Financials Rs. in Crs. FY23 FY22 Gr% FY23 FY22 Gr% Gross Revenue 5066 3111 63% 4501 2803 61% Net Revenue 4464 2744 63% 3998 2494 60% Other Income 95 38 152% 55 166 -67% Total Revenue 4560 2781 64% 4054 2660 52% Margin 1675 984 70% 1671 990 6
Slide 29: Balance Sheet
BALANCE SHEET Particulars (Rs. In Crs.) Mar’23 Mar’22 Net worth 765 625 Loan Fund 104 194 Total Liabilities 869 819 Fixed Assets + Lease Deposit 795 720 Investments 77 163 Inventory 1488 1009 Other Assets 525 516 Net Cash Rs. in Crs Total Current Assets 1883 1357 Cash & Investments 74 Trade Creditor
Slide 30: Cash Flow
CASH FLOW Particulars Mar’23 Mar’22 Cash Profit from Operations (after tax) 321 -17 Changes in Working Capital -124 124 Cash generated from Operations 197 106 Fixed Assets /Reduction in Capex Creditors -191 -120 Cash generated from Operations 7 -13 Redemption of Investments (Net) 87 -24 Cash post In
Slide 31: Way Forward
Way Forward – We will continue to focus on: – Customer Centricity – Capital Efficiency – Consistent Performance – Maintain the momentum on expansion to accelerate the Growth – Scaling up the Distribution business for Beauty Segment – Hybrid Shopping and Seamless Shopper Journey – Focus on Experienti
Slide 32: Annexures
ANNEXURES
Slide 33: Financials Q4 FY23
FINANCIALS Q4 FY23 Particulars Non GAAP GAAP Rs. in Crs. FY23 FY22 Gr% FY23 FY22 Gr% Gross Revenue 1175 890 32% 1033 798 29% Net Revenue 1036 782 32% 916 710 29% Other Income 28 13 117% 21 20 8% Total Revenue 1063 795 34% 938 730 29% Margin 384 281 37% 396 285 39% Margin% 37.1% 35.9% 120 Bps 43.2% 4
Slide 34: Financials YTD FY23
FINANCIALS YTD FY23 Particulars Non GAAP GAAP Rs. in Crs. FY23 FY22 Gr% FY23 FY22 Gr% Gross Revenue 5066 3111 63% 4501 2803 61% Net Revenue 4464 2744 63% 3998 2494 60% Other Income 95 38 152% 55 166 -67% Total Revenue 4560 2781 64% 4054 2660 52% Margin 1675 984 70% 1671 990 69% Margin% 37.5% 35.9% 1
Slide 35: Facts as at 31st Mar'23
270 (1) Stores 9.0M 800+ FIRST CITIZENS BRANDS 14% Mix 17% Mix PRIVATE BRANDS BEAUTY FACTS as at 31st Mar’23 3.9 M 52 SQUARE FEET CITIES AREA 36 Mn CUSTOMER VISITS in Q4 (2) 18.4K 1. Includes 57 Shop in Shops 2. Including Brand staff TALENT POOL LIFE 32
Slide 36: 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 37: Investor contact
In case of any clarifications please contact on [email protected]