ICICI Securities: Shoppers Stop - Strengthening Balance Sheet And Inducting New MD
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:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.