Highlights:
- Business recovery continues with easing mobility restrictions and consumers returning to stores
- Q2 consolidated revenue doubled YoY to Rs. 2054 Cr., (Q2 FY21 at Rs. 1028 Cr.) Recovery of ~90% over pre-COVID levels (Q2 FY20)
- Lifestyle revenues more than doubled YoY. 92% recovery compared to pre-COVID levels. Pantaloons grew 80% over the previous year with a slower recovery owing to a larger share of mall stores that had prolonged restrictions.
- Other businesses, including Active Athleisure Innerwear, Youth Western Fashion and Super Premium brands, have grown over preCOVID levels, aided by online channels.
- Ethnic wear portfolio continues to build on all of its constituent brands; new store openings boosted growth.
- Small-town formats continue to show promising results. While Peter England Red and Allen Solly Prime are rapidly accelerating; two more brands— Van Heusen and Louis Philippe have successfully forayed into these markets through pilots
- Company recorded consolidated EBIDTA of Rs. 338 Cr.
- EBITDA performance has been driven by robust demand recovery and tight control on costs. E-commerce sales continued to grow rapidly
- Both own brand websites and 3rd party marketplaces performed well.
- Strengthened Omni-channel coverage across businesses, with more than 30% stores now omni-enabled.
- The debt has reduced from Rs. 1200 Cr. in Q1 FY22 to Rs. 873 Cr. by the end of Q2 FY22. Despite aggressive growth plans across brands and channels, debt is expected to stay range bound at these levels for the year.
