About Company

• The Company was originally incorporated in June 2013 as 'Dwarkadas Mohanlal Pvt. Ltd' in Calcutta, West Bengal. The name was changed to 'Baazar Style Retail Pvt. Ltd' in November 2013. Subsequently on conversion to public limited company the name was changed to 'Baazar Style Retail Limited', in December 2021. The company is a value fashion retailer, offering affordable products under the apparels and general merchandise segments.

• The company is a one-stop shop catering to the requirements of the entire family by providing a quality product portfolio at an affordable price. Within the apparels vertical, it offers garments for men, women, boys, girls and infants, and the general merchandise offerings include both non-apparels and home furnishing products.

• Baazar Style Retail has a market share of 3.03% and 2.22%, in organized value retail market in the states of West Bengal and Odisha, respectively. The company was the fastest growing value retailer between 2017 - 2024, in terms of both store count and revenue from operations as compared to listed value retailers.

• The company has the largest retail footprint in Eastern India, as compared to the listed value retailers. The company operates 162 stores spread across over 1.47 million square feet located in 146 cities.

• The company's Average Transaction Value was ? 1,038.69 in FY2024, which was the 2nd highest when compared to that of the Listed Value Retailers in India.

• The company's revenues from operations grew at a CAGR of 32.86% while the overall lifestyle and home value retail market grew at CAGR of ~19.3% during the same period.

• The company has a healthy mix of both private label and third-party brands that are offered in the stores including fashion apparel of brands such as Killer and Sparky in select stores. The company currently owns 10 private label brands contributing ? 368.99 Cr in FY2024 representing 37.93% of its revenue from operations.

• The company's revenues from operations have grown at a CAGR of 32.86% to ? 972.88 cr in FY2024 vs. ? 551.12 Cr in FY2022, while the EBITDA have grown to 14.61% from 12.40% during the same period. Due to a lean working capital cycle, the company has managed to improve its operating efficiency. In FY2024 the working capital days stood at 8.89 days vs. 17.96 days in FY2022.

Strengths

Competitive Strength 

• One of the fastest growing value retailer in eastern India with a market share of 3.03% and 2.22% in the states of West Bengal and Odisha, respectively in organized value retail market
• Strong understanding of customer preferences to offer a comprehensive, targeted and affordable product mix along with the company’s private label brands leading to customer loyalty
• Targeted marketing and promotion activities enabling increasing brand salience and garnering customer loyalty
• Experienced promoters and a strong management team with a proven track record, backed by investors
• Strong financial track record of growth

 Business Strategies 

• Expand profit margins and increase revenue contribution from the private labels. Focus towards creating differentiation and achieving greater control over product quality of private labels
• Strengthen the market position by increasing penetration in existing clusters, expand footprint in the Focus Markets, increase focus on customer retention and garnering brand loyalty
• Continue to invest in technology adoption initiatives, data analytical capabilities and implementation of omni-channel retailing business model
• Continue to invest in strengthening the supply chain management and human capital to further reduce the operating costs

Company Promoters

Company Financials

Baazar Style Retail Limited Financial Information (Restated Consolidated)

Objects of the Issue

The company proposes to utilize the Net Proceeds towards funding the following objects (collectively, referred to as the “Objects”):

1. Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company and
2. General corporate purposes.