Retail revenues de-grow 6.9% YoY in Q4FY19 Retail business revenues de-grew 6.9% YoY to | 351.9 crore and contributed ~57% to overall revenues in Q4FY19. EBIT margins for this business contracted 350 bps YoY to 7.3% in Q4FY19 on account of volatility in steel prices. Shankara currently has 134 retail stores and is looking to close down six stores (~21,300 sq ft) mainly in Gujarat as the management does not see Gujarat as its strategic focus. Overall, the company reported same store sales (SSS) de-growth of