Shoppers Stop Limited has informed the Exchange regarding a press release dated April 29, 2025, titled "Press Release".
SHOPERSTOP · price
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Awaiting price reaction for this filing.
Shoppers Stop reported Q4 FY25 GAAP revenue of Rs 1,022 Cr (+2% YoY) and full-year revenue of Rs 4,436 Cr (+5%). Q4 GAAP EBITDA was Rs 187 Cr, down 6% YoY, while non-GAAP full-year EBITDA fell 19% to Rs 183 Cr. GAAP PBT collapsed from Rs 100 Cr to Rs 0 in FY25, with management attributing the decline to higher depreciation and finance costs on new stores under Ind AS 116 lease accounting. Operational KPIs were healthy — ATV rose 8%, ASP 4%, items per ticket 4% — and the premium segment contributed 65% of sales. The First Citizen loyalty program drove 82% of sales with 12.3 million members. New formats are scaling fast: INTUNE recorded Rs 192 Cr annual sales (5x YoY) with 71 stores, and Global SS Beauty posted Rs 236 Cr (2x YoY). Capex for the year was Rs 192 Cr.
Mixed picture for shareholders. Top-line growth and operational metrics (ATV, ASP, loyalty engagement) are encouraging, but shrinking EBITDA margins and a near-zero GAAP PBT signal margin pressure that may weigh on the stock despite new business momentum. The wide gap between GAAP and non-GAAP numbers (driven by lease accounting) may create confusion among retail investors.