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Covid-19 induced lockdowns significantly disrupted Shoppers Stop Ltd.’s Q1 but headline numbers beat consensus estimates.
Revenue de-grew 70% QoQ to Rs 201.1 crore (Q1 FY21: Rs 53.9 crore).
The company achieved operational cost savings worth Rs 140 crore (versus Q1 FY20 levels), which reduced the quarterly cash burns, to certain extent.
Ebitda losses were at Rs 113.2 crore versus Rs 62.8 crore in Q4 FY21.
During Q1 FY22, the company reported negative free cash flow worth Rs 110 crore.
Shoppers Stop’s liquidity position remains fairly stable with cash and investments worth Rs 96 crore and debt worth Rs 195 (net debt Rs 19 crore, debt/equity: 0.1 time).
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