Past 10 year's financial track record analysis by Moneyworks4me indicates that Baazar Style Retail Ltd is a average quality company.
The key valuation ratios of Baazar Style Retail Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Baazar Style Retail Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 23.4% | 34.3% | 29.4% | 14.8% | 11.2% | 7.7% | 12.2% | 16.9% | 22.4% | - |
| Value Creation Index ⓘ | 0.7 | 1.5 | 1.1 | 0.1 | -0.2 | -0.5 | -0.1 | 0.2 | 0.6 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | ||||||||||
| Sales ⓘ | 109 | 184 | 307 | 538 | 629 | 427 | 551 | 788 | 973 | 973 |
| Sales YoY Gr. | - | 69.8% | 66.7% | 75.2% | 16.9% | -32.2% | 29.1% | 43% | 23.5% | - |
| Adj EPS ⓘ | 0.6 | 1.3 | 1.8 | 1.3 | -1.5 | -3 | -1.1 | 0.9 | 3.3 | 3 |
| YoY Gr. | - | 117.2% | 39.7% | -29% | -217.6% | NA | NA | NA | 274.7% | - |
| BVPS (₹) ⓘ | 1.4 | 3.3 | 11.1 | 19.3 | 17.6 | 14.7 | 21.6 | 27.7 | 30.8 | 50.9 |
| Adj Net Profit ⓘ | 2 | 4.7 | 9.5 | 7.6 | -9 | -18 | -7.5 | 6.1 | 22.8 | 22 |
| Cash Flow from Ops. ⓘ | -0.5 | 3 | 5.3 | -12.7 | 63.2 | 47.4 | 15.6 | 32.9 | 112 | - |
| Debt/CF from Ops. ⓘ | -32.1 | 11.1 | 5.6 | -7 | 1.3 | 1.7 | 6.5 | 3.5 | 1.6 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | 12.6% | 31.6% | 23.5% | ||||
| Adj EPS ⓘ | NA | 21.1% | NA | 274.7% | ||||
| BVPSⓘ | NA | 9.8% | 28% | 11.2% | ||||
| Share Price | - | - | - | - | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 42.2 | 55.7 | 26.3 | 8.6 | -8 | -18.2 | -6.4 | 3.6 | 11.2 | 7.2 |
| Op. Profit Mgn % ⓘ | 6 | 7.4 | 8 | 6 | 10.4 | 11.1 | 12.6 | 13.1 | 14.8 | 10.9 |
| Net Profit Mgn % ⓘ | 1.8 | 2.5 | 3.1 | 1.4 | -1.4 | -4.2 | -1.4 | 0.8 | 2.3 | 2.3 |
| Debt to Equity ⓘ | 3.6 | 2.8 | 0.5 | 0.8 | 0.8 | 0.9 | 0.7 | 0.6 | 0.8 | 0 |
| Working Cap Days ⓘ | 0 | 105 | 131 | 146 | 161 | 226 | 192 | 165 | 167 | 45 |
| Cash Conv. Cycle ⓘ | 0 | 21 | 28 | 37 | 28 | 30 | 58 | 54 | 61 | 9 |
Return on Equity has increased versus last 3 years average to 7.20%
Sales growth is growing at healthy rate in last 3 years 31.60%
Debt to equity has declined versus last 3 years average to 0.83
Sales growth is good in last 4 quarters at 21.52%
Net Profit has been subdued in last 3 years 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 3 | 2.9 |
| TTM Sales (₹ Cr.) | 973 | 973 |
| BVPS (₹.) ⓘ | 50.9 | 50.9 |
| Reserves (₹ Cr.) ⓘ | 1,031 | 343 |
| P/BV ⓘ | 6.36 | 6.36 |
| PE ⓘ | 109.87 | 110.10 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 306.15 / 430.95 |
| All Time Low / High (₹) | 306.15 / 430.95 |
| Market Cap (₹ Cr.) | 2,416 |
| Equity (₹ Cr.) | 37.3 |
| Face Value (₹) | 5 |
| Industry PE ⓘ | 97.3 |
| Pledged * | 0.00 |
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 109 | 184 | 307 | 538 | 629 | 427 | 551 | 788 | 973 |
| Operating Expenses ⓘ | 102 | 171 | 283 | 506 | 565 | 380 | 483 | 686 | 830 |
| Manufacturing Costs | 3 | 4 | 8 | 21 | 23 | 14 | 18 | 24 | 28 |
| Material Costs | 82 | 134 | 213 | 369 | 443 | 302 | 376 | 534 | 647 |
| Employee Cost | 4 | 9 | 15 | 35 | 46 | 30 | 45 | 65 | 80 |
| Other Costs ⓘ | 13 | 24 | 46 | 81 | 53 | 34 | 45 | 63 | 75 |
| Operating Profit ⓘ | 6 | 14 | 24 | 32 | 64 | 47 | 68 | 101 | 142 |
| Operating Profit Margin (%) | 6.0% | 7.4% | 8.0% | 6.0% | 10.2% | 10.9% | 12.4% | 12.9% | 14.6% |
| Other Income ⓘ | 0 | 0 | 0 | 1 | 3 | 15 | 10 | 6 | 10 |
| Interest ⓘ | 2 | 4 | 5 | 10 | 35 | 34 | 35 | 41 | 49 |
| Depreciation ⓘ | 1 | 2 | 5 | 11 | 45 | 48 | 53 | 61 | 73 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 3 | 7 | 15 | 12 | -13 | -20 | -10 | 5 | 29 |
| Tax ⓘ | 1 | 3 | 5 | 4 | -3 | -2 | -2 | 0 | 7 |
| Profit After Tax | 2 | 5 | 9 | 8 | -10 | -18 | -8 | 5 | 22 |
| PAT Margin (%) | 1.6% | 2.5% | 3.1% | 1.4% | -1.6% | -4.3% | -1.5% | 0.6% | 2.3% |
| Adjusted EPS (₹) | 0.5 | 1.3 | 1.8 | 1.3 | -1.6 | -3.0 | -1.2 | 0.7 | 3.2 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 5 | 12 | 60 | 117 | 108 | 90 | 144 | 194 | 215 | |
| Share Capital ⓘ | 1 | 1 | 4 | 4 | 4 | 4 | 33 | 35 | 35 | |
| Reserves ⓘ | 4 | 11 | 56 | 113 | 103 | 85 | 110 | 159 | 180 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Debt | 17 | 33 | 29 | 78 | 76 | 82 | 102 | 115 | 178 | |
| Long Term Debt | 12 | 13 | 4 | 27 | 29 | 25 | 17 | 18 | 29 | |
| Short Term Debt | 5 | 20 | 25 | 51 | 47 | 57 | 85 | 97 | 149 | |
| Trade Payables | 24 | 44 | 104 | 165 | 172 | 148 | 180 | 166 | 262 | |
| Others Liabilities ⓘ | 6 | 5 | 17 | 31 | 284 | 275 | 319 | 380 | 495 | |
| Total Liabilities ⓘ | 51 | 94 | 210 | 391 | 639 | 594 | 744 | 854 | 1,150 | |
Fixed Assets | ||||||||||
| Gross Block | 16 | 25 | 57 | 119 | 396 | 431 | 523 | 654 | 859 | |
| Accumulated Depreciation | 2 | 4 | 9 | 20 | 45 | 93 | 136 | 186 | 239 | |
| Net Fixed Assetsⓘ | 14 | 21 | 48 | 99 | 352 | 338 | 386 | 468 | 620 | |
| CWIP ⓘ | 0 | 0 | 1 | 3 | 3 | 2 | 3 | 2 | 7 | |
| Investmentsⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Inventories | 33 | 59 | 131 | 233 | 231 | 202 | 280 | 317 | 433 | |
| Trade Receivables | 3 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Cash Equivalents | -2 | 6 | 8 | 14 | 3 | 7 | 24 | 5 | 15 | |
| Others Assetsⓘ | 3 | 7 | 23 | 43 | 50 | 46 | 51 | 63 | 76 | |
| Total Assets ⓘ | 51 | 94 | 210 | 391 | 639 | 594 | 744 | 854 | 1,150 | |
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -1 | 3 | 5 | -13 | 63 | 47 | 16 | 33 | 112 |
| PBT ⓘ | 3 | 7 | 15 | 12 | -13 | -20 | -10 | 5 | 29 |
| Adjustment ⓘ | 4 | 6 | 10 | 20 | 80 | 73 | 81 | 101 | 117 |
| Changes in Working Capital ⓘ | -7 | -10 | -20 | -39 | 0 | -5 | -53 | -68 | -32 |
| Tax Paid ⓘ | 0 | -1 | 0 | -5 | -4 | 0 | -2 | -5 | -3 |
| Cash Flow From Investing Activity ⓘ | -6 | -10 | 0 | -56 | -26 | -9 | -27 | -43 | -85 |
| Capex | -6 | -9 | 0 | -56 | -26 | -9 | -27 | -43 | -85 |
| Net Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | 8 | 13 | -4 | 75 | -46 | -37 | 29 | -8 | -18 |
| Net Proceeds from Shares ⓘ | 2 | 0 | 0 | 50 | 0 | 0 | 62 | 45 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 35 | -2 | 5 | 0 | 3 | 10 |
| Interest Paid ⓘ | -2 | -4 | 0 | -10 | 0 | -9 | -7 | -9 | -12 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 8 | 17 | -4 | 0 | -43 | -33 | -26 | -47 | -16 |
| Net Cash Flow ⓘ | 1 | 6 | 1 | 6 | -9 | 2 | 18 | -18 | 9 |
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 36.13 | 55.69 | 26.34 | 8.61 | -8.76 | -18.54 | -6.86 | 3.02 | 10.76 | |
| ROCE (%) | 23.38 | 34.33 | 29.44 | 14.84 | 11.15 | 7.68 | 12.17 | 16.89 | 22.42 | |
| Asset Turnover Ratio | 2.11 | 2.53 | 2.02 | 1.79 | 1.22 | 0.69 | 0.82 | 0.99 | 0.97 | |
| PAT to CFO Conversion(x) | -0.5 | 0.6 | 0.56 | -1.63 | N/A | N/A | N/A | 6.6 | 5.09 | Working Capital Days |
| Receivable Days | 9 | 3 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Inventory Days | 112 | 91 | 112 | 123 | 135 | 185 | 160 | 138 | 141 | |
| Payable Days | 108 | 92 | 126 | 133 | 139 | 193 | 159 | 118 | 121 | |
Baazar Style Retail Limited was incorporated as Dwarkadas Mohanlal Private Limited, a private limited company under the Companies Act, 1956 on June 3, 2013, and was granted the certificate of incorporation by the RoC. Subsequently, the name of the Company was changed to Baazar Style Retail Private Limited pursuant to a special resolution passed by the shareholders of the Company on November 21, 2013, and a fresh certificate of incorporation dated November 26, 2013 was issued by the RoC. Pursuant to the conversion of the company into a public limited company and a special resolution passed by its Shareholders at the EGM on December 16, 2021, the name of the was changed to ‘Baazar Style Retail Limited’, and the RoC issued a fresh certificate of incorporation on January 6, 2022.
The company operates in the value retail sector, offering a diverse range of both apparel and non-apparel consumer goods. These products are retailed through a network of stores operating under the brand names ‘Express Baazar’, ‘Mega Baazar’, and ‘Style Baazar’. The company’s offerings are bifurcated under the apparels and general merchandise verticals. Within the apparels vertical, it offers garments for men, women, boys, girls and infants, whereas it’s general merchandise offerings include both non-apparels and home furnishing products. Its target customer segment is the aspiring middle class comprising of households, comprising of fashion conscious, value and quality seeking youth and young families, which forms the bulk of purchasing power of the Indian population. The company focuses on providing a family-oriented shopping experience, offering quality products and strives to offer every Indian stylish merchandise at an affordable price. By providing a family-oriented shopping experience, it is a one-stop shop catering to the requirements of the entire family by providing a quality product portfolio at an affordable price.
The company ventures into untapped markets with high potential by offering multiplicity of brands, wide range of apparels and general merchandise, customised product range catering to the local preferences, brand specific counters highlighting specific products and brands such as Sparky and K-Lounge counter, where it offers branded products for the Killer brand. Its stores are operated on a cluster-based expansion model in which a new store is opened and operated within the same or nearby districts in which it operates its existing stores. This enables it to increase efficiencies in supply chain and inventory management processes, strengthen its brand visibility in local markets, optimize its marketing expenditure, efficient utilization of its human resources and provides it with an incisive understanding of customer preferences at a micro market level.
Business area of the company
The company operates in the value retail sector, offering a diverse range of both apparel and non-apparel consumer goods.
Awards, accreditations and recognitions
History and milestones
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