Shopper's Stop Limited - Securities and Exchange Board of India

Earnings before Interest, Depreciation, Tax , Amortisation and Exceptional items (EBIDTA).
A comparison of EBIDTA (Rs. in million) and as percentage to Gross Retail Sales (Revenues from sales
of bought out merchandise, sales from concessions and sales from consignment arrangements).
Period ending March 31 2004 2003
Rs in mn
2002
Gross Retail Sales 3954 2,949 2402
Profit after Tax 121 106 2
Add:
Finance Charges 40 32 54
Depreciation 75 58 49
Tax 10 - -
Non Recurring Items 1 - 4
EBIDTA 247 196 109
EBIDTA as a %age of Gross Retail Sales 6.2% 6.7% 4.5%
Profit After Tax (before restatement)
The profit after tax (before restatement) was Rs 121million in FY 2004, Rs. 106 million in FY 2003, and
Rs. 2 million in FY 2002. Our profit after tax margins to Gross Retail Turnover have been 2.9%, 3.5% and
0.08%for FY 2004, FY 2003 and FY 2002 respectively.
Sundry Debtors
The following table presents the details of our debtors:
Period ending March 31 2004 2003 2002
Gross Retail Sales 3954 2,949 2402
147
Rs. mn
Outstanding Debtors at the end of the period 15 12 15
Debtors Less than 180 days 14 12 15
Debtors more than 180 days 1 0 0
Debtors less than 180 days as a % of Gross
Retail Sales 0.3% 0.4% 0.6%
Debtors more than 180 days as a % of Gross
Retail Sales 0% 0% 0%
Bad Debts Written off/Provision 1 0 0
Outstanding Debtors (Days) 1.4 1.4 2.2
% of Bad Debts to Gross Retail Sales 0% 0% 0%
Our sales collections are primarily by cash or by way of credit card transactions. The number of days for
which sales are outstanding in our business thus tend be much lower than other businesses such as
manufacturing, etc.