Trading Symbol: STYLEBAAZA

Financial Performance Summary

Consolidated Financial Highlights (IND AS):

| Metric | Q1FY27 | Q1FY26 | YoY % | Q4FY26 | QoQ % | FY26 |

| Revenue from Operations (Rs Mn) | 4,864 | 3,775 | 29% | 4,657 | 4% | 18,409 |

| EBITDA (Rs Mn) | 719 | 578 | 24% | 482 | 49% | 2,641 |

| EBITDA Margin % | 14.8% | 15.3% | - | 10.3% | - | 14.3% |

| Net Profit (Rs Mn) | 22 | 21 | 8% | -256* | 109% | 469 |

*Exceptional loss of Rs 206 Mn recognized on full and final settlement of insurance claim in Q4FY26

Operational Highlights

Store Network Expansion:

  • Store count increased 19% YoY to 276 stores in Q1FY27
  • Total rental area expanded 22% YoY to 2.58 Mn sq. ft.
  • Average store size increased to 9,347 sq. ft.
  • Stores located across 198 cities and 10 states

Private Label Performance:

  • Revenue rose 31% YoY to Rs 3,006 Mn in Q1FY27
  • Contribution to total revenue increased from 61% in Q1FY26 to 62% in Q1FY27
  • Company aims to increase private label contribution to approximately 75% over the next one to two years

Regional Market Performance:

  • Focus markets revenue increased 50% YoY to Rs 1,086 Mn
  • Contribution of focus markets in revenue increased to 22% from 19% in Q1FY26

Strategic Initiatives

Growth Outlook for FY27:

  • Target of 25% revenue growth in FY27
  • Same-store sales growth (SSSG) target of 7-8%
  • Store expansion plan of opening 50-70 new stores in FY27
  • Selective entry into new markets

Digital Transformation:

  • Successfully transformed to SAP S/4HANA Greenfield Implementation
  • Ongoing digital transformation spans ERP, warehouse management, replenishment and analytics
  • Systems deployed include SAP ERP, Infor WMS, Goldratt replenishment systems, and Domo analytics
  • Expected benefits: improved supply-chain visibility, optimized inventory turns, data-led decision-making

Value-Fashion Proposition:

  • Company remains focused on offering affordable, fashionable and aspirational products
  • Evaluating sourcing diversification and selective cost-mitigation measures
  • Watchful of input-cost movements amid dynamic global operating environment and volatile raw-material costs

Strategic Relationship with Cupid Limited:

  • Company places significant strategic importance on relationship with Cupid Limited
  • Believes complementary strengths present meaningful opportunities for collaboration and business expansion
  • Committed to strengthening strategic relationship and unlocking synergies between the two businesses

Company Background

Baazar Style Retail Limited is a value fashion retailer established in 2013 and based in Kolkata. The company operates as a one-stop shop catering to the requirements of the entire family, offering quality products at affordable prices.

CIN No: L18109WB2013PLC194160

Management Commentary

The company remains confident in its ability to sustain growth momentum and create enduring value through operational excellence, strategic expansion, and relentless focus on delivering superior customer value. The cluster-led expansion model continues to create a virtuous cycle of scale, enabling greater supply-chain efficiencies, sharper inventory management, stronger local brand visibility and more productive deployment of marketing and human capital.