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

occupy a prime location in the malls on terms we believe favorable to us as compared to
the other occupants.
• Large base of loyal customers
We had 12,21 mn customer entries in our stores in the year ended March 31, 2004. We
believe that the emotional connect that we have been able to create with our customers
through our service offering and special promotions has helped us convert many of them
into loyal customers. We had 307,331 members of our loyalty programme as on June 30,
2004. First Citizens contributed to about half of our Retail Sales in FY 2004.
Quantitative Factors
• Adjusted Earning Per Equity Share
Year
Earning per Equity Share of face
Value Of Rs.10/- each
226
Weight
FY 2002 0.27 1
FY 2003 3.46 2
FY2004 4.48 3
Weighted
average
3.44
b) The Earning per Equity Share has been computed on the basis of adjusted Profits &
Losses for the respective years/periods after considering the impact of accounting
changes and prior period adjustments /regroupings pertaining to earlier years.
c) The denominator considered for the purpose of calculating earning per share is the
weighted
average number of Equity Shares outstanding during the period
� Price/earning ratio in relation to issue price of Rs. [ ]*
a) EPS based on FY 2004 financials is Rs 4.48
b) P/E based on FY 2004 financials is [ ]
c) Industry P/E
As there is no separate classification of Retail sector as an Industry, benchmark
comparable Industry P/E is not available. * would be calculated after discovery of price
through book Building
Average Return on Net Worth
Sr. No. Year ended % Weight
1 March 31, 2002 1.26 1
2 March 31, 2003 13.93 2
3 March 31, 2004 15.59 3
Weighted average 12.65
1) The average return on net worth has been computed on the basis of adjusted profits &
Losses for the respective year/period after considering the impact of accounting policy
changes and prior period adjustments/regrouping pertaining to earlier years.
� Minimum Return on Increased Net Worth required to maintain Pre-Issue EPS is [ ]
to [ ]
� Net Asset Value per Equity share as at March 31, 2004 is Rs 28.74