Baazar Style Retail Limited has informed the Exchange about Transcript
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Baazar Style Retail reported Q1 FY26 revenue of INR 378 crores, up 37% year-on-year and 9% sequentially, with gross profit at INR 136 crores (49% YoY growth) and EBITDA of INR 25 crores (+14% YoY, +114% QoQ). PAT came in at INR 9 crores, a 531% YoY jump. The store network expanded to 232 stores (40% YoY growth) with retail area of 2.11 million sq ft, while private labels contributed 61% of revenue. Management reaffirmed FY26 guidance of 25% revenue growth, 7-8% same-store sales growth, 7-8% pre-Ind AS EBITDA margin, and 40-50 new store openings. They outlined a multi-year margin roadmap targeting 9-10% EBITDA by FY28 and SPSF of INR 9,800-10,000 by FY27. Debt is expected to reduce from INR 157 crores to ~INR 120 crores by year-end, and capex for FY26 is set at INR 90-100 crores.
Positive for shareholders: strong topline growth, clear multi-year margin expansion roadmap, debt reduction plan, and store expansion visibility. Near-term SSG appears weak (-3%) but was attributed to the Eid festival shift; normalized SSG of 11% suggests underlying demand remains healthy. Festive season (Durga Puja, Diwali) and store ramp-ups are expected to drive the rest of FY26.