Baazar Style Retail Limited — Investor Meet, 21-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Baazar Style Retail posted FY25 revenue of Rs. 1,344 Cr, up 38% YoY, driven by 52 new stores (total 214) and 13% same-store sales growth. Private labels contributed Rs. 600 Cr, growing at a 64% CAGR over three years. Pre-IndAS EBITDA rose 31% to Rs. 94.4 Cr; adjusted PAT increased 35% to Rs. 39.75 Cr. Q4 revenue surged 55% to Rs. 345 Cr with 20% SSSG. Inventory per sq.ft dropped to Rs. 715. Management targets 20-25% revenue growth in FY26 with 40-50 new stores and 7-8% SSSG. Tech investments (~Rs. 20-25 Cr) aim to enhance efficiency. Debt stands at Rs. 166 Cr, expected to reduce post insurance claim. Mature stores deliver 13-15% EBITDA margins; PAT margin is guided to 3-4% (pre-IndAS) in FY26, with a 4-5% target by FY27.