One of the top department stores released its investor presentation and quarterly results, but the company’s stock fell 2.73 percent to ₹683.30 on Friday at 11.00 a.m. from its closing price of ₹702.5.
Shoppers Stop Ltd reported its financial results for the quarter ended December 31, 2023, as well as its investor presentation, in an exchange filing.
Looking at their financial performance their net revenue rose by by 8.8% year over year, from ₹1,137 crore in Q3FY23 to ₹1,238 crore in Q3FY24. Their revenue rose by 19% sequentially from ₹1,039 crore in Q2FY24 to the current levels.
Additionally, the company’s net profit decreased by 41% from ₹63 crores in Q3FY23 to ₹37 crores in Q3FY24. The company’s quarterly profit increased by 1133% from ₹3 crore in Q2FY24 to current levels.
Furthermore, in the filing, the company stated that in Q3FY234, First Citizen members accounted for 78% of total sales, with 65% repeat members and 13% new members. Premium Black Card members contributed 13%, representing an 18% YoY increase.
Private Brands accounted for 13% of sales, with Sanya X Kashish’s campaign driving an 18% increase. Beauty increased by 10%, contributing 18% of total sales. Intune, a rapidly expanding segment, has added four stores and plans for fourteen more.
Beauty Distribution generated Rs 39 crore in sales and expanded to 334 doors. In the third quarter of FY24, the company opened 13 stores and invested Rs 51 crores in expansion.
The Shoppers Stop Ltd is a small-cap company with a market capitalization of ₹7,490 Crores, However, the share price rose only 1.3% in the last year.
Shoppers Stop Ltd has a low price-to-earnings ratio of 81, a debt-to-equity ratio of 0.65, a return on equity ratio of 15%, and an 80 percent return on capital employed.
The promoter owns 65.55% of the company, while the general public owns 6.21%, foreign institutional investors own 6.28%, and domestic institutional investors own 21.45%.
Shoppers Stop Limited is an India-based company that operates retail and departmental stores. The company is in the business of selling a wide range of household and consumer products through department stores.
Written by Sriram KV
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