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

NOTES TO THE SUMMARY STATEMENTS
(Rupees in Millions)
1. Brief Background of the Company:
The Company was incorporated on 16 June 1997. The Company is engaged in the business of
selling garments and a variety of other products through departmental stores facilities. As at 31
March 2004 the Company operated through 14 stores located in the cities of Mumbai, Bangalore,
Hyderabad, Jaipur, New Delhi, Chennai, Kolkatta, Gurgoan and Pune.
2. Contingent Liabilities:
As at March 31
Particulars 2004 2003 2002 2001 2000
Contractual
liability
Counter
Guarantee
38 26 NIL 15 7
NIL 70 70 70 70
Total 38 96 70 85 77
3. Outstanding Capital Commitments (Net of Advances)
As at 31 March
2004 2003 2002 2001 2000
Capex contract remaining to be
executed and not provided (Net
of advances)
Investments in UTL, a 100%
subsidiary
4. Summary of other income:
24 NIL NIL 44 7
50 NIL NIL NIL NIL
For the year ended Nature of Income
2004 2003 2002 2001 2000
Interest income 1 2 9 28 5 Recurring
Credit balance and
provisions no
required (net)
longer
7 13 10 Nil Nil Non-Recurring
Expired gift vouchers Nil Nil 7 Nil Nil Non-Recurring
Refund of sales-tax Nil Nil 5 Nil Nil Non-Recurring
Scrap sales 3 2 2 1 2 Recurring
Miscellaneous income and
credits
7 6 7 6 6 Recurring
Total 18 23 40 35 13
5. Revision in useful lives of fixed assets:
During the year ended 31 March 2002, the Company revised its estimate of the useful lives of some
of its fixed assets (see table below). A revision in the useful life of fixed assets, being a change in
accounting estimate, in accordance with Accounting Standard 5 on “Net Profit or Loss for the Period,
Prior Period Items and Changes in Accounting Policies” and Accounting Standard 6 on “Depreciation
Accounting”, the change has been applied prospectively and the concerned assets have been
depreciated over the balance of their new estimated useful lives.
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