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ICICI Securities: Shoppers Stop - Strengthening Balance Sheet And Inducting New MD 

ICICI Securities: Shoppers Stop - Strengthening Balance Sheet And Inducting New MD



The Shoppers Stop Ltd. logo sits on a shopping bag in an arranged photograph at a store in the Malad area of Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)
The Shoppers Stop Ltd. logo sits on a shopping bag in an arranged photograph at a store in the Malad area of Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

Key takeaways from Shoppers Stop Ltd.’s Q2 FY21 result -

1. Standalone revenues (non-GAAP) declined 65% YoY to Rs 3.7 billion with Ebitda loss of Rs 833 million;

2. With easing of lockdown and onset of festive season, management expects better footfalls and improved performance in Q3 FY21;

3. Company is on track to achieve cost savings of Rs 4.5 billion in FY21;

4. It plans to raise Rs 3 billion via rights issue mainly to fund Rs 2.6 billion negative free cash flow during H1 FY21; and

5. Venugopal Nair (Chief Executive Officer - Westside at Trent since January -2020) has been appointed Managing Director and CEO for three years with-effect-from November 06, 2020.

Click on the attachment to read the full report:

ICICI Securities Shoppers Stop Q2FY21 Result Update.pdf

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