Shoppers Stop Ltd

- Annual capex expected to be around INR160-200 crores, similar to the current year. - Capex includes new store additions, store renovations, beauty stores, and digital/omnichannel investments. - Capex per square foot for new stores has reduced by 35%, now around INR2,200-2,300 (higher if beauty section included). - Exploring co-funding models for capex with partners/landlords to reduce balance sheet impact. - Expansion focus continues with over 10 department stores and 12 beauty stores added recently, funded through internal accruals without requiring debt. - Capital allocation remains prudent, aiming to improve return on capital employed (20-25%) and maintain a lean balance sheet. - Investments also in digital channels and omnichannel experience (including SS Beauty platform and app). - Store payback period ranges from 2 to 2.5 years with strong growth expected from year two onwards.

- Targeting mid-double-digit overall sales growth including new stores for the coming years. - Expecting mid-single-digit same-store sales (SSD) growth annually. - Plan to open 10-12 new department stores every year, contributing to revenue expansion. - Private brand sales, currently 14% of total, expected to grow faster than overall sales, driving margins. - Growth engines identified as private brands, beauty segment, and omnichannel expansion. - Beauty segment is poised to grow above company average, supported by SS Beauty and boutique stores with exclusive partners. - Anticipate continued increase in total bills and average transaction value (ATV) due to premiumization and product mix shift. - Doubling revenues expected by FY'26 from FY'20 base, supported by like-for-like growth and new store additions.

- Targeting mid-double-digit overall revenue growth including new stores; mid-single-digit same-store sales growth (SSG) expected going forward. - Strategic growth drivers: private brands, beauty segment expansion, and omnichannel development. - Expected annual addition of 10-12 new department stores to support growth. - EBITDA and profits expected to improve with sustainable gross margin expansion (currently 41%-43%) and improved revenue mix. - Capital allocation remains prudent with no anticipated debt for expansion; funded through internal accruals. - Return on capital employed (ROCE) expected between 20%-25% over next 1-2 years. - Gross margin improvements partly due to vendor arrangement changes, contributing an estimated 30-40 basis points from next fiscal year onward. - Robust loyalty program and enhanced customer engagement to drive high-margin growth segments.

The document "2994.pdf" does not provide specific information regarding the current or expected order book or pending orders for Shoppers Stop Limited. The discussion primarily revolves around: - Sales performance and growth in average transaction value (ATV) and average selling price (ASP). - Inventory levels and their composition, especially related to private brands. - Operational aspects such as customer footfalls, store expansions, and capital expenditure. - Supply chain challenges, particularly in the beauty segment. - Strategic initiatives including omnichannel presence and customer loyalty programs. No explicit data on pending orders or order book status is disclosed in the text.

- No new debt is foreseen for expansion; the company expects to fund growth through internal accruals (Page 19, Karuna). - The company maintains a lean balance sheet with negligible net debt of around INR30 crores (Page 7, Karuna). - There is an exploration of partnerships where partners may partly or fully fund store capex, but no definitive decision yet; an update is expected in 3-4 months (Page 15, Karuna). - Overall, capital allocation is prudent, with no mention of raising equity or significant external fundraising planned in the near term.