Description
The evolution of the brand Shoppers Stop began when the baseline of the brand logo changed with
ever-rising customer aspirations. From the 'Ultimate Shopping Experience' in 1992 and 'Feel the
experience while you shop' in 1993, to 'Shopping. And beyond.' in 2005, the brand journey speaks
about a paradigm shift from enjoying the international shopping experience to shopping for
emotional fulfilments: for example, buying a diamond ring for your loved one to express your love or
flaunting your status.
This changed to 'Start Something New' in 2008 as a part of the Brand's Makeover strategy, but still
connecting to the current mindset of customers to constantly upgrade and experiment.
Auuua| Report 2O1O-11 O1
20 YE/RS. 20 l/K|S l0Y/l CuSI0VERS. /rc t|e jcu|re] çces cr. S|cppe|s Stcp |as ueer
p|cree||rç t|e ¤cce|r |eta|| |rcust|] |r |rc|a lc| 2 cecaces, a|wa]s sta]|rç cre step a|eac.
I|ar|s tc t|e Cc¤par]s c|||çerce, e·pe|t|se arc c|ec|u|||t], S|cppe|s Stcp |as uecc¤e t|e
||ç|est uerc|¤a|| lc| t|e |rc|ar ¤cce|r |eta|| |rcust|], p|cv|c|rç t|e u|t|¤ate |r custc¤e|
sat|slact|cr ac|css t|e ccurt|]. |t c|eatec a Wc||c C|ass s|cpp|rç e·pe||erce
u] ta||rç t|e l||st step tcwa|cs a rew e|a cl las||cr arc ||lest]|e.
|ts ueer 20 ]ea|s cl ccrstart evc|ut|cr arc ||¤|t|ess |rrcvat|cr.
|ts ueer 20 ]ea|s cl up|c|c|rç t|e p|||cscp|] tc a|wa]s "Start Somethiug lew."
MlLEST0lES
Auuua| Report 2O1O-11 O2
1991
0lle||rç e·parcec tc |rc|uce su|t|rç, uc]swea| arc |ac|es ¤e|c|arc|se .
1992
1993
/ccec Casua|s, K|cswea|, Jewe||e|], ||aç|arces, Ccs¤et|cs arc Watc|es ¤a||rç S|cppe|s
Stcp |rc|a's l||st eve| cepa|t¤erta| stc|e.
1994
S|cppe|s Stcp |aurc|ec ar e·c|us|ve |c]a|t] p|cç|a¤ t|t|ec 'I|e |||st C|t|ter's C|uu' arc
'SI0|' t|e l||st |r-|cuse |aue|.
1995
|||st steps tcwa|cs a par-|rc|a p|eserce. S|cppe|s Stcp |aurc|ec |ts seccrc stc|e |r
Berça|u|u.
Shoppers Stop's jouruey to becomiug a |eader iu the moderu retai| marlet has beeu dotted with successes.
0ver the years, it has bui|t up a ster|iug reputatiou with its dedicatiou to striugeut qua|ity of products,
superior customer care aud uupara||e|ed shoppiug experieuce.
Auuua| Report 2O1O-11 O3
MAkINß
ßßEAkIhß0üßh8
1997
S|cppe|s Stcp |rcc|pc|atec as a ucc] cc|pc|ate. laurc|ec |a||||a¤a, a lest|va| tc ce|eu|ate |rc|ar
t|ac|t|cr arc cu|tu|e.
Sc|e |eta||e| tc ue awa|cec t|e |rte|ccrt|rerta| C|cup cl Depa|t¤ert Stc|es (|CDS} ¤e¤ue|s||p.
|rst|tutec Custc¤e| Ca|e /sscc|ate as t|e cc¤¤cr ces|çrat|cr lc| a|| e¤p|c]ees.
1998
1999
Reta|| |evc|ut|cr tcc| |ccts |r |c|t| |rc|a w|t| t|e |aurc| cl stc|es |r /rsa| ||ata (De|||} arc Ja|pu|.
2000
|rc|a's pcpu|a| c|a|r cl ucc|stc|es, C|csswc|c, ueca¤e a pa|t cl S|cppe|s Stcp. S|cppe|s Stcp
|aurc|ec |r C|erra|.
2001
|||st |rc|ar |eta||e| tc accpt Erte|p||se Rescu|ce ||arr|rç (ER|} |r asscc|at|cr w|t| J.D. /|¤st|crç tc
st|erçt|er p|ccesses.
2003
|as||cr steppec |rtc t|e East w|t| t|e |aurc| cl a stc|e |r Kc||ata.
2004
S|cppe|s Stcp was vctec |rc|a's ¤cst lavcu|ec |eta|| cest|rat|cr cl t|e ]ea| u] |¤açes Reta|| Rewa|c.
Auuua| Report 2O1O-11 O4
1996
S|cppe|s Stcp ueçar |ts jcu|re] cl e·c|t|rç ¤a||et|rç p|c¤ct|crs arc |r-stc|e e·c|te¤ert w|t| a l||st cl
|ts ||rc '|est|va| cl B||ta|r', ce|eu|atec |r asscc|at|cr w|t| t|e cc¤¤e|c|a| cepa|t¤ert cl t|e B||t|s|
Ccrsu|ate.
2005
|c¤eStcp ÷ |c¤e reecs spec|a||st stc|e |aurc|ec |r Berça|u|u. S|cppe|s Stcp ||0
cve|suusc||uec cve|a|| u] 17.25 t|¤es. 'C|csswc|c' ueca¤e a w|c||] cwrec suus|c|a|] cl t|e
Cc¤par]. B|arc pcs|t|cr|rç c|arçec l|c¤ '|ee| t|e e·pe||erce' tc 'S|cpp|rç. /rc ue]crc'.
Vct|e|ca|e |aurc|ec |r |rc|a u] S|cppe|s Stcp. Dec|a|ec 'Reta||e| cl t|e ]ea|' at t|e |¤açes
|as||cr |c|u¤.
2006
C|eatec ¤cv|e ¤e|c|arc|s|rç ||stc|] w|t| t|e urve|||rç cl t|e 0¤ S|art| 0¤ cc||ect|cr.
Ce|eu|atec t|e |aurc| w|t| S|a||u|| K|ar, Deep||a |acu|cre arc /|jur Ra¤pa| ¤cce|||rç t|e
c|ct|es at a las||cr s|cw. I|e Cc¤par] accu||ec a 19º sta|e |r |]pe|c|t]. |e||c|tatec t|e Cc|c
S||e|c /wa|c u] |C/| lc| E·ce||erce |r ||rarc|a| Repc|t|rç lc| t|e Yea| 200c |r t|e Varulactu||rç c
I|ac|rç Erte|p||se cateçc|].
2007
2008
S|cppe|s Stcp was awa|cec t|e 'E¤e|ç|rç ¤a||et |eta||e| cl t|e Yea|' at t|e Wc||c Reta||
ccrç|ess |r /p||| 2008. V|. |açes| |as ueer |rcuctec |rtc t|e 'Wc||c Reta|| |a|| cl |a¤e' at t|e
Wc||c Reta|| Ccrç|ess |r Ba|ce|cra. S|cppe|s Stcp |epcs|t|crec arc |e|rvertec as a 'u||cçe tc
|u·u|]' u|arc w|t| t|e urve|||rç cl t|e rew |cçc arc taç||re, 'SI/RI S0VEI|||C |EW'.
Auuua| Report 2O1O-11 O5
2009
||cree|ec ¤ascct ||cers|rç t||cuç| ar e·c|us|ve t|e-up lc| ce|ta|r p|ccucts w|t| Vccalcre lc| t|e||
pcpu|a| u|arc ¤ascct Zcctcc.
2010
0pe|at|crs e·parcec tc 3c stc|es ac|css 15 c|t|es.
2011
Reccçr|sec as t|e 'Vcst Respectec Cc¤par] |r t|e Reta|| Sectc|' u] Bus|ress Wc||c.
BRAND
JOURNEY
The evolution of the brand Shoppers Stop began when the baseline of the brand logo changed with
ever-rising customer aspirations. From the 'Ultimate Shopping Experience' in 1992 and 'Feel the
experience while you shop' in 1993, to 'Shopping. And beyond.' in 2005, the brand journey speaks
about a paradigm shift from enjoying the international shopping experience to shopping for
emotional fulfilments: for example, buying a diamond ring for your loved one to express your love or
flaunting your status.
This changed to 'Start Something New' in 2008 as a part of the Brand's Makeover strategy, but still
connecting to the current mindset of customers to constantly upgrade and experiment.
1991 – A beginning: Exclusively Male
BRAND
REINVENTION
Annual Report 2010-11 08
1992 – Becoming a family stop
1993 – Grabbing attention
1994 – Infusing excitement
Annual Report 2010-11 09
1996 – Bringing in an International Experience
1998 – Not forgetting our roots
2002 – Emotionally Bonding with the market
Annual Report 2010-11 10
2003 – Outdoing customer expectations
2004 – Presenting the Corporate Entity
2005 – Evolving as a Brand to: Shopping. And beyond.
Annual Report 2010-11 11
2007 – Being simply irresistible
2008 – Thinking ahead and revamping
ourselves with changing times
2010 – Riding current times
hR
PRACTlCES
Auuua| Report 2O1O-11 12
Auuua| Report 2O1O-11 13
INN0vAIIvE
IEAMW0ßk
8ecause customers come first at Shoppers Stop, every emp|oyee is a Customer Care Associate, right from the
Vice Chairmau to the f|oor staff. Associates start each day with the authem 'had Se Aage' writteu by 6u|/aar
Sahab, suug by Souu ligam aud composed by Ram Sampat.
Ic |eep suc| ||ç||]-|rvc|vec wc||lc|ce
erçaçec arc ¤ct|vatec, S|cppe|s Stcp |as
|rt|ccucec ¤ar] pecp|e |r|t|at|ves.
Parichay ÷ I|e |rcuct|cr. I||s |s ar |rcuct|cr
p|cç|a¤¤e t|at cc¤p||ses cl c|ass|cc¤
t|a|r|rç, jcu t|a|r|rç arc a|sc |rt|ccuces t|e
la¤||] cl t|e asscc|ates tc t|e c|çar|sat|cr.
Learuiug aud 0eve|opmeut Ceutre ÷ I|e
lea|r|rç arc Deve|cp¤ert Cert|e |s
|espcrs|u|e lc| suppc|t|rç asscc|ates |r t|e||
ceve|cp¤ert reecs as we|| as p|cv|c|rç t|e
c|çar|sat|cr w|t| pecp|e ta|ert lc| va||cus
|r|t|at|ves.
Jo Jeeta Wohi Silaudar ÷ Reccçr|ses arc
|aucs pe|lc|¤arces cl asscc|ates w|c |ave
çcre ue]crc t|e ca|| cl t|e|| cut].
The 8aby Kaugaroo Programme ÷
Reccçr|s|rç ||ç| |ctert|a|, t||s |s t|e l||st
p|cç|a¤ |r t|e |eta|| sectc| w||c| clle|s
a st|uctu|ec ç|cwt| pat| tc asscc|ates.
I|e p|cç|a¤¤e |as wcr ¤ar] accc|aces
|r t|e |rcust|] arc cre cl t|e¤ |s t|e
p|est|ç|cus 'DV/ ÷ E|e|wcr /wa|c lc|
|rrcvat|ve |R |r|t|at|ves'.
Measuremeut of Associate Satisfactiou ÷
We act|ve|] ¤easu|e asscc|ates' sat|slact|cr
u] ccrcuct|rç ar arrua| cr||re su|ve] tc
cete|¤|re t|e /sscc|ate Sat|slact|cr |rce·
(/S|}. /|| asscc|ates pa|t|c|pate, ac|css |eve|s,
¤a||rç t||s ar |¤pc|tart tcc| lc| ccrt|rucus
|¤p|cve¤ert.
REACh 8 CuST0MER
EXPERlElCE
Auuua| Report 2O1O-11 14
Auuua| Report 2O1O-11 15
ßEA6hINß NEW
ß0üNßAßIE8
Shoppers Stop has beeu de|ightiug customers by offeriug a comp|ete shoppiug experieuce iu mauy cities
arouud the couutry. lt is this much-appreciated aud ta|led-about experieuce that is uow beiug iutroduced to
other, uewer cities iu ludia.
Custc¤e|s a|e t|eatec w|t| a cc¤p|ete
sersc||a| e·pe||erce w|||e s|cpp|rç at
S|cppe|s Stcp stc|es. I|e scct||rç l|aç|arce
cl t|e Beaut] |a|| at t|e ert|arce ¤es¤e||ses
t|e custc¤e|s as sccr as t|e] step |r. I|e
|u·u||cus arc urc|utte|ec |a]cut cl t|e stc|es
|e|ps custc¤e| s|cp at ease w|||e t|e pepp]
S|cppe|s Stcp Rac|c u||ç|ters up t|e|| ¤ccc.
I|e ||ue|t] tc t|] cut p|ccucts w|t|cut t|e
cu||çat|cr cl pu|c|ase ÷ |||e ¤a|e-up ÷ accs
tc t|e cve|a|| s|cpp|rç e·pe||erce arc t|e
Cale |r eac| stc|e ersu|es a |el|es||rç u|ea|
|r-uetweer s|cpp|rç. Vc|ecve|, |as||cr
/ss|starts at eac| stc|e |e|p custc¤e|s |a|se
t|e|| las||cr cuct|ert u] ass|st|rç t|e¤ w|||e
¤a||rç a pu|c|ase cec|s|cr.
Du||rç t|e ]ea|, t|e Cc¤par] e·tercec t||s
urpa|a||e|ec s|cpp|rç e·pe||erce tc rewe|
c|t|es arc catc|¤ert u] |aurc||rç c S|cppe|s
Stcp stc|es.
S|cppe|s Stcp |as |eac|ec cut tc
custc¤e|s ac|css |rc|a, arc a|sc tc
|R|s, t||cuç| |ts e-cc¤¤e|ce weus|te,
www.s|cppe|sstcp.cc¤, w||c| ce||ve|s tc
¤c|e t|ar 500 c|t|es arc tcwrs ac|css t|e
ccurt|]. I|e cr||re s|cpp|rç weus|te clle|s
t|e ease arc ccrver|erce tc s|cp lc| |eac|rç
||lest]|e u|arcs, l|c¤ ar]w|e|e w|t| secu|e
pa]¤ert cpt|crs arc a|sc a||cws |||st C|t|ter
¤e¤ue|s tc ea|r arc |ecee¤ pc|rts cr||re.
(|rc|uces C|csswc|c, Vct|e|ca|e, |c¤eStcp
V./.C., C||r|cue arc Estee lauce| cut|ets}
luc||ara
/¤||tsa|
|rcc|e
/u|arçauac
S|||çu||
Du|çapu|
B|cpa|
|açpu|
|as|||
F0RMATS
Auuua| Report 2O1O-11 16
Shoppers Stop provides for the customers' every ueed, be it fashiou aud home ueeds or specia|ty
retai|iug such as bools, materuity aud iufaut care aud cosmetics. Products iuc|ude both uatioua|
aud iuteruatioua| brauds that have oue thiug iu commou ÷ their uuquestiouab|e qua|ity.
Shoppers Stop
I|e Cc¤par] s l| açs|| p uus| ress cl
cepa| t ¤ert st c| es | s ¤ar| l est | r
S|cppe|s Stcp. |t clle|s custc¤e|s ar
|rte|rat|cra| s|cpp|rç erv||cr¤ert arc a
wc||c c|ass s|cpp|rç e·pe||erce t||cuç| |ts
38 stc|es |r 17 c|t|es.
|t |cuses a |cst cl |rte|rat|cra| arc cc¤est|c
u|arcs ac|css cateçc||es suc| as appa|e|,
accessc||es, ccs¤et|cs, |c¤e c ||tc|erwa|e
arc a|sc |ts cwr e·c|us|ve u|arcs. Sc¤e
|rte|rat|cra| p|e¤|u¤ u|arcs |eta||ec at
S|cppe|s Stcp a|e /ust|r Reec, VuSI/|C,
CK Jears, ||erc| Ccrrect|cr, Ic¤¤] |||l|çe|,
Esp||t, uCB, C|are|, larcc¤e, Cuess, Varçc,
Jac| c Jcres arc uS |c|c, tc ra¤e a lew.
homeStop
|c¤eStcp |s t|e l||st-cl-|ts-||rc p|e¤|u¤
|c¤e ccrcept stc|e p|esert |r 3 c|t|es at 1
|ccat|crs. |t clle|s a w|ce |arçe cl |c¤e
p|ccucts ac|css cateçc||es a|crç w|t| sc¤e
cl t|e ¤cst |eputec rat|cra| arc |rte|rat|cra|
u|arcs.
|t |s a cre-stcp s|cp lc| a|| |c¤e reecs
|arç|rç l|c¤ |c¤e cecc| tc lu|r|tu|e, uat|
accessc|| es tc uec|cc¤ lu|r| s|| rçs,
¤att|esses tc c|ape||es, arc ca|pets tc |ea|t|
ecu|p¤ert, a|| urce| cre |ccl.
Crossword
C|csswc|c |s t|e |eace| |r t|e ||lest]|e
ucc|stc|e cateçc|] w|t| a ur|cue p|ccuct ¤|·
cl ucc|s, ¤açat|res, CD-R0Vs, ¤us|c,
stat|cre|] arc tc]s. I||s |s lu|t|e| er|arcec
w|t| se|v|ces |||e D|a|-a-Bcc|, arc lac|||t|es
|||e C|lt Vcuc|e|s arc Retu|r, E·c|arçe,
c Relurcs pc||c]. Cu||ert|], t|e|e a|e
c9 C|csswc|c stc|es/ccc|s |r cpe|at|cr.
ßIvEß8IF¥INß
0üß kN0WIEßßE
Auuua| Report 2O1O-11 11
hyperClTY
|]pe|C|IY |as |ecel|rec t|e e·pe||erce cl t|e
|rc|ar ccrsu¤e| |r t|e u|ç uc· ¤|·ec |eta||
lc|¤at. |ts clle||rçs |rc|uce lccc arc ç|cce|],
çere|a| ¤e|c|arc|se arc appa|e|. I|e
uus|ress cpe|ates a Vc|e tc D|sccve| u]||re
arc ce||ve|s cua||t] p|ccucts at a ç|eat va|ue.
|]pe|C|IY cpe|ates 9 stc|es, cre eac| |r
/¤||tsa|, B|cpa|, Ja|pu|, luc||ara, |av|
Vu¤ua|, |]ce|auac, arc Berça|u|u arc 2 |r
Vu¤ua|.
Mothercare 8 Ear|y Learuiug Ceutre (ELC)
S|cppe|s Stcp ltc (SSl} |as e·c|us|ve
a||arçe¤erts tc cper Vct|e|ca|e arc ElC
s|cp-|r-s|cps |r |rc|a. Vct|e|ca|e, uKs
p|e¤|u¤ |rte|rat|cra| u|arc lc| ¤ate|r|t],
|rlart arc c|||cca|e p|ccucts, cu||ert|] |as 29
stc|es cpe|atec u] SSl, |rc|uc|rç 7 starc-
a|cre stc|es w|t| a p|eserce |r 11 c|t|es.
Ea||] lea|r|rç Cert|e (ElC}, uKs ru¤ue| cre
ecucat|cra| tc] u|arc lc| c|||c|er açec 0-c
]ea|s |s a|sc ava||au|e |r se|ect S|cppe|s Stcp
stc|es.
Estee Lauder 6roup of Compauies
S|cppe|s Stcp |as erte|ec |rtc a rcr-
e·c|us|ve |eta|| aç|ee¤ert w|t| wc||c
|ercwrec ccs¤et|cs ¤ajc| Estee lauce| tc
cper stc|es lc| |rte|rat|cra| u|arcs |||e
V./.C, Estee lauce| arc C||r|cue |r |rc|a.
/s cr Va|c| 31, 2011, S|cppe|s Stcp |as 17
V./.C stc|es w|t| a p|eserce |r Vu¤ua|,
|ure, Berça|u|u, /¤||tsa|, |]ce|auac,
C|erra|, arc De|||. Estee lauce| |as 1 stc|es,
|rc|uc|rç 3 starca|cre stc|es, cre eac| |r
De|||, Berça|u|u arc Vu¤ua|. C||r|cue |as 10
stc|es, |rc|uc|rç twc starca|cre stc|es.
Auuua| Report 2O1O-11 18
Airport Retai|iug
I|e Cc¤par] cu||ert|] |as 1 stc|e eac| |r
Berça|u|u arc |]ce|auac cut] pa|c arc 1 cut] l|ee
at Berça|u|u.
Time/oue
S|cppe|s Stcp ue||eves t|at |rc|ar ccrsu¤e|s
a|e |cc||rç lc| ¤u|t|p|e cpt|crs tc erte|ta|r
t|e¤se|ves arc t|e|| la¤|||es. |t |as lc|a]ec
|rtc t|e erte|ta|r¤ert sectc| w|t| a sta|e cl
1c.89º |r I|¤etcre Erte|ta|r¤ert |||vate
l|¤|tec, w||c| |s t|e uus|ress cl cpe|at|rç
|a¤||] Erte|ta|r¤ert Cert|es (|ECs}. |t
cu||ert|] |as 12 ccc|s |r |eac|rç ¤et|cs.
Auuua| Report 2O1O-11 19
L0YALTY PR06RAM
8 FlRST llSl6hT
Auuua| Report 2O1O-11 2O
Shoppers Stop's streugth is its customer |oya|ty. lt strives to male the shoppiug experieuce as va|uab|e as
possib|e, so that customers leep returuiug for more. Shoppers Stop tales the shoppiug experieuce
to the uext |eve|, by maliug it persoua|ised for its |oya| customers.
ßEWAßßINß
0üß 6ü8I0MEß8
Auuua| Report 2O1O-11 21
First Citi/eu coutributiou to Sa|es
1Oº
2Oº
3Oº
4Oº
5Oº
6Oº
1Oº
8Oº
O.Oº
2OO1
61º
2OO8
65º
2OO9
12º
2O1O
15º
2O11
13º
First Citi/eu Programme
S|cppe|s Stcp ue||eves t|at t|e custc¤e|
ta|es p||c||t] cve| a|| e|se, w||c| |s w|] t||s
p|cç|a¤¤e |as ¤c|e t|ar 2 ¤||||cr sat|sl|ec
¤e¤ue|s w|c ccrt||uute up tc 73º tc cu|
sa|es.
I|e |||st C|t|ter |c]a|t] p|cç|a¤¤e |s t|e ¤cst
successlu| |e|at|crs||p arc |c]a|t] p|cç|a¤¤e
|r t|e |eta|| |rcust|] |r |rc|a arc tcca]. I|e
uase cl t|e |||st C|t|ter Ve¤ue|s ccrt|rues tc
ç|cw. I|e|| t|ust |r t|e u|arc |as |rsp||ec |t tc
ccrt|rue tc e·ce| |r se|v|ce, cua||t] arc
clle||rçs.
I|e cuject|ve cl t|e |||st C|t|ter ||cç|a¤¤e |s
tc ersu|e custc¤e| ce||ç|t arc er|arce
custc¤e| sat|slact|cr. S|cppe|s Stcp t|u|]
va|ues t|e leecuac| |t |ece|ves l|c¤ |ts
custc¤e|s. Ic t|u|] |rcw custc¤e|s,
S|cppe|s Stcp ara|]ses t|e p|cp||eta|] |||st
C|t|ter cata cr a ccrt|rucus uas|s us|rç
D||s|t|, a cata wa|e|cus|rç arc cata ¤|r|rç
|I uac|ucre.
Custc¤e| ç|cups a|e ara|]sec us|rç t|e
p|cp||eta|] |||st |rs|ç|t. I||s |e|ps tc p|ar
ta|çetec clle|s, u|arcs arc cc¤¤ur|cat|crs.
Auuua| Report 2O1O-11 22
Crossword 8ool Rewards Programme
lc]a| C|csswc|c Bcc|stc|e custc¤e|s a|e
|ewa|cec t||cuç| t|e C|csswc|c Bcc|
Rewa|cs p|cç|a¤¤e w|t| pc|rts, c|sccurts,
p|c¤ct|cra| clle|s arc ¤c|e. eWc|cs, a
¤crt||] e-rews|ette| w|t| |ev|ews cl rew
ucc|s, rews aucut |r-stc|e everts arc uest
se||e| ||sts, |s ¤a||ec tc t|ese ¤e¤ue|s. I|e
C|csswc|c Bcc| Rewa|cs |c]a|t] p|cç|a¤¤e
|as ¤c|e t|ar 2.77 |ac ¤e¤ue|s arc |as
ccrt||uutec tc 10º cl sa|es cl C|csswc|c
Bcc|stc|es ltc.
0iscovery C|ub Programme
I|e |]pe|C|t] D|sccve|] C|uu u||rçs eve|]
cust c¤e| ç| eat sav| rçs, e·c| us| ve
p|c¤ct|crs, spec|a| p|ev|ews arc a w|c|e |ct
¤c|e. 0re car ea|r c|sccve|] |ewa|c pc|rts
arc |ecee¤ t|e¤ aça|rst pu|c|ases. I||s
|c]a|t] p|cç|a¤¤e |el|ects |]pe|C|t]s
cc¤¤|t¤ert tc clle| |ts custc¤e|s t|e
u|t|¤ate s|cpp|rç e·pe||erce. |]pe|C|t]s
|c]a|t] p|cç|a¤¤e D|sccve|] C|uu, |aurc|ec
|r 2009, ccrt|rues tc ç|cw arc |ep|esert 11º
cl sa|es |r 01|Y11. I|e|e a|e a tcta| cl 1.c3
|acs ¤e¤ue|s.
Auuua| Report 2O1O-11 23
Customer Satisfactiou ludex Scores
JAl O6
6Oº
Au6 O6
63º
l0V O1
63º
FE8 O9
81º
O.Oº
1Oº
2Oº
3Oº
4Oº
5Oº
6Oº
1Oº
8Oº
9Oº
APRlL 1O
8Oº
8RAl0S
Auuua| Report 2O1O-11 24
S|rce |ts |rcept|cr, S|cppe|s Stcp |as
ccrt|ruec tc |rt|ccuce rew u|arcs arc |as
sta]ec a|eac t||cuç| e·c|us|ve arc rcr-
e·c|us|ve t|e-ups w|t| va||cus u|arcs. I|e
|arçe cl |rc|ar arc |rte|rat|cra| u|arcs |ave
ueer ca|elu||] c|cser tc ¤eet t|e reecs cl
t|e ¤cce|r s|cppe|.
E·ters|ve e·pe||erce |r t|e |eta|| space |as
|e|pec |t art|c|pate t|e custc¤e|s' s|cpp|rç
reecs arc |rt|ccuce seve|a| cua||t]
|rte|rat|cra| u|arcs |r |rc|a ¤uc| uelc|e
ct|e|s. S|cppe|s Stcp |as set t|e uerc|¤a||
lc| w|at ¤cce|r |eta|| car clle| arc asp||es tc
ta|e |t tc t|e re·t |eve|.
S¤a|t, cc¤lc|tau|e c|ct|es t|at a|e a pe|lect
¤|· cl c|ass|c arc ccrte¤pc|a|] st]||rç.
I|erc] casua| c|ct|es arc accessc||es uasec
cr ç|cua| las||cr t|ercs.
E|eçart arc e·cu|s|te t|ac|t|cra| cccas|cr
wea| lc| et|r|c c||c.
0ßIßINAI
6ßEAII0N8
Auuua| Report 2O1O-11 25
Attuued to the braud phi|osophy of 'Start Somethiug lew', Shoppers Stop observes fashiou treuds,
aud tales de|ight iu offeriug uuique qua|ity merchaudise that is treudy aud aspiratioua|. lt tales pride iu
the fact that its customers fiud exact|y what they ueed aud are eucouraged to exp|ore more optious.
Scp||st|catec lc|¤a| arc casua| c|ct|es lc|
t|e pcwe| c|esse|.
|aute cu||] |s a ]curç arc lur|] et|rc-
lus|cr u|arc lc| tcca]'s ]curç las||cr
c|vas. V|v|c |rc|ar cc|cu|s arc ¤ct|ls a|e
las||crau|] captu|ec |r ¤cce|r s|||cuettes
arc ces|çrs. I|e ||re cc¤p||ses cl st]||s|
|u|t|s arc t|erc] sa|waa| |a¤eet arc
cupatta sets.
S|cppe|s Stcp |as ra¤ec wc||c la¤cus s|ta|
¤aest|c arc ¤us|c cc¤pcse| /rcus||a
S|ar|a| as t|e u|arc a¤uassacc| lc| |aute
cu||]. S|e |s rct cr|] a ]cut| |ccr uut |s a|sc ar
apt e·a¤p|e cl et|r|c c|ve|s|t], ue |t t||cuç|
|e| ¤us|c c| pe|scra| st]|e. S|e pe|lect|]
¤atc|es t|e u|arc va|ues arc pcs|t|cr|rç cl
|aute cu||] arc |e| pe|scra| st]|e state¤ert
¤|||c|s t|e ¤cce|r|sec et|r|c|t] cl |aute
cu||]'s ces|çrs arc st]|es.
|as||cr cer|¤ wea| lc| t|e u|uar ]cut| t|at
ep|tc¤|ses |rc|v|cua||t].
E|eçart|] st]||s| ]et p|act|ca| arc cc¤lc|tau|e
wc¤er's wea| lc| spec|a| cccas|crs.
|as||crau|e lc|¤a|s arc s¤a|t casua|s lc|
st]||s| arc l|a¤uc]art ¤er.
|as||crau|e ccpc|ate wea| arc accessc||es
lc| wc¤er.
Auuua| Report 2O1O-11 26
llTERlATl0lAL 8RAl0S
S|cppe|s Stcp erjc]s ar e·c|us|ve |eta||
a||arçe¤ert w|t| t|e B||t|s| las||cr arc
||lest]|e u|arc /ust|r Reec. urce| t||s, t|e
/ust|r Reec |arçe cl lc|¤a| uus|ress wea|
arc s¤a|t casua| wea| lc| ¤er arc wc¤er |s
e·c|us|ve|] ava||au|e at S|cppe|s Stcp stc|es.
I||s Ce|¤ar u|arc |as ueer u|cuç|t tc t|e
|rc|ar ¤a||et t||cuç| ar e·c|us|ve |eta||
a||arçe¤ert, |r t|e cepa|t¤ert stc|e
seç¤ert, w|t| S|cppe|s Stcp ltc. I|e
appa|e| e·||u|ts s|çr|l|cart |rte|rat|cra|
|rl|uerce |r st]|e arc l|resse arc |t e·uces
u|uar c||c w|t| |ts aut|ert|c st]|e arc
ur¤atc|ec cc¤lc|t.
/s t|e l||st cer|¤ u|arc cl Eu|cpe, VuSI/|C
|s wc||c |ercwrec lc| |ts p|ec|se l|ts arc
was|es.
I|e ç|cua| appea| cl t|e cc||ect|cr |s
urce|scc|ec u] |ts |rte|rat|cra| s|||cuettes
t|at pe|lect|] ta||] w|t| t|¤e|ess ]et t|erc-
|rsp||ec cc|cu|s arc ceta||s. |t a||cws t|e
c|sce|r|rç las||cr cevctee t|e cpt|cr cl
uu]|rç cc¤p|ete erse¤u|es, cve| arc aucve
|rc|v|cua| ça|¤erts.
Auuua| Report 2O1O-11 21
MARKETll6
lllTlATlVES
Auuua| Report 2O1O-11 28
8raud Campaigu
I||s ]ea|s ca¤pa|çr ccrt|rues w|t| t|e
t|cuç|t cl 'SI/RI S0VEI|||C |EW'.
I|e u|arc S|cppe|s Stcp |s a||çrec w|t| scc|a|
|ssues |r t|e upcc¤|rç ca¤pa|çr ÷ t|e cc|e
¤essaçe |s tc s|cwcase ||C| |/S||0|.
I|e ¤e|c|arc|se ccrrect |s e·t|e¤e|]
st|crç arc c|eates ar |rterse ces||e tc
uu] ¤e|c|arc|se |r custc¤e|s ¤|rcs. I|e
ca¤pa|çr w||| leatu|e st]||s| pecp|e |r s|¤p|e
ca]-tc- ca] s| tuat| crs actua| | ] cc| rç
sc¤et||rç rew ÷ sc t|e 'Sta|t Sc¤et||rç
|ew' car actua||] t|ars|ate |rtc act|cr.
Socia| Media Marletiug
|rrcvat|ve |r|t|at|ves |r t|e Scc|a| Vec|a
Va||et|rç space |ave |ept t|e u|arc
ccrrectec w|t| cu| custc¤e|s l|c¤ ac|css t|e
ccurt|]. Va||cus ccrtests cr t||s space |ave
ersu|ec t|at S|cppe|s Stcp erjc]s a |a|çe
ru¤ue| cl l|KES, ¤c|e t|ar 7 |acs cr
|aceucc|. S|cppe|s Stcp |s a|sc act|ve cr
ct|e| p|atlc|¤s suc| as Iw|tte|, |cu|scua|e
arc Ycu Iuue.
Auuua| Report 2O1O-11 29
ßß0üNß-ßßEAkINß
INN0vAII0N
Fi|m Merchaudisiug: 8real Ke 8aad
|as||cr |r |rc|a |s p|ececec arc |a|çe|]
çcve|rec u] Bc||]wcccs st]|e state¤ert. |r
t|e past, S|cppe|s Stcp ¤et w|t| ¤uc|
success lc| |ts e·c|us|ve appa|e| ||res |rsp||ec
u] ç|eat l||¤s suc| as 0¤ S|art| 0¤, lcve /aj
Ka|, arc Ka|t||| Ca|||rç Ka|t||| etc. I||s ]ea|
S|cppe|s Stcp t|ec up w|t| ¤eça sta||e| l||¤
B|ea| Ke Baac arc |aurc|ec ar e·c|us|ve
appa|e| ||re urce| |ts pcpu|a| ]cut| u|arc l|le.
Deep||a |acu|cres le¤|r|re arc c||c st]|e
arc |¤|ar K|ars c|ccc|ate-uc] c|a|¤ was
¤|||c|ec pe|lect|] |r t|e casua| appea| cl
t|e cc||ect|cr.
Eud-of-Seasou Sa|e
S|cppe|s Stcp |aurc|ec |ts De||ç|tlu||] lcw
|||ces uptc 51º 0ll Sa|e ca¤pa|çr w|t| rew
e]e-catc||rç arc c|utte| u|ea||rç |¤açe|].
I|e e·ters|ve cutccc| ca¤pa|çr c|eatec t|e
||ç|t v|s|u|||t] t||cuç| a pe|lect se|ect|cr
cl u|||uca|cs. I||s was suppc|tec u]
acve|t|s|rç |r |eac|rç puu||cat|crs ac|css
c|t|es w|t| S|cppe|s Stcp stc|es.
Choose Your 0wu 6ift
S|cppe|s Stcp p|esertec t|e ert||e stc|e tc
t|e|| |||st C|t|ter Ve¤ue|s arc e¤pcwe|ec
t|e¤ tc c|ccse t|e|| cwr ç|lt cu||rç t|e||
arrua| |c]a|t] p|cç|a¤¤e p|c¤ct|cr. |rsteac
cl clle||rç a p|e-se|ectec ç|lt, S|cppe|s Stcp
clle|ec |ts |c]a|t] p|cç|a¤¤e ¤e¤ue|s w|t|
Bcrus Rewa|c |c|rts cr t|e|| pu|c|ases,
w||c| ccu|c ue |ecee¤ec cr ar] p|ccuct cl
t|e|| c|c|ce.
Start Somethiug lew Today
I|e Sta|t Sc¤et||rç |ew Icca] ca¤pa|çr |s
a se||es cl s¤a|| acs |r |eac|rç puu||cat|crs
t|at appea| eve|] I|u|sca] cr pç. 3. I|ese
acs uas|ca||] p|cv|ce |rte|est|rç las||cr arc
s|cpp|rç t|ps tc t|e custc¤e|s. /t t|e sa¤e
t|¤e, t|e sa¤e t|p |s ||ç|||ç|tec at t|e
p|]s|ca| stc|es t||cuç| V|sua| Ve|c|arc|s|rç.
luuovatiou is the ley to everythiug at Shoppers Stop. Carryiug forward the braud phi|osophy of
'Start Somethiug lew', the past year saw c|utter-brealiug iuuovative campaigus that |eut
uewuess aud topica|ity to pu|| customers aud he|ped iucrease footfa||s.
FllAlClAL
hl6hLl6hTS
Auuua| Report 2O1O-11 3O
ßEINvENIINß
Fß0FII8
Shoppers Stop has a|ways strived to leep its sa|es growth at a coustaut |eve|. lt is assured that the
high staudards of the products comp|emeut the high output |eve| of profits.
Auuua| Report 2O1O-11 31
S|cppe|s Stcp |as ta|er ç|art steps tcwa|cs
ac||ev|rç st|ateç|c ç|cwt|. I|e lccus cr ccst
|at|cra||sat|cr, st|ea¤||r|rç p|ccesses arc
ersu||rç custc¤e| sat|slact|cr |as ç|ver |t ar
ecçe |r t|e ¤a||et. W|t| ecua| e¤p|as|s cr
caut|cus p|arr|rç, S|cppe|s Stcp |as
ccrsc||catec |ts pcs|t|cr as a |eac|rç |eta||
|rrcvatc| |r |rc|a.
I|e Cc¤par] |as wc||ec tcwa|cs ceve|cp|rç
|tse|l as ar e·e¤p|a|] |eta|| ¤cce| w|t| t|e
cc¤u|rat|cr cl ||ç|t pcs|t|cr|rç |r t|e ¤|rcs
cl |ts custc¤e|s, ccst |at|cra||sat|cr
¤easu|es arc e·| t| rç rcr-p|cl| tau| e
uus|resses. |r |Y 2011, S|cppe|s Stcp ltc.
ac||evec a C|css Reta|| Iu|rcve| cl 1929
c|c|es, up u] 23º, w|||e t|e ç|css ¤a|ç|r
stccc at 599 c|c|es s|cw|rç a ç|cwt|
cl 21º.
I|e Cc¤par] |as w|tressec a st|crç arc
stau|e erv||cr¤ert cve| t|e ]ea| w|t| st|crç
ç|cwt| |r |||e-tc-|||e sa|es cl 17º lc| t|e ]ea|.
|t |s a|sc e·parc|rç steac||] |r ¤et|cs as we||
as t|e| || c|t|es, w||c| |s w|tress|rç t|e
ccrsu¤pt|cr ucc¤ arc |as ç|ver t|e
Cc¤par] access tc a ç|cw|rç ru¤ue| cl
custc¤e|s.
6ross Retai| Turuover
3,OOO
6,OOO
9,OOO
12,OOO
15,OOO
18,OOO
C
A
6
R
~
2
3
º
21,OOO
8,996
2OO1
12,O69.1
2OO8
14,OO1
2OO9
15,684
2O1O
O
19,29O
2O11
AWAR0S
Auuua| Report 2O1O-11 32
Du||rç t|e ]ea| 2010-11, S|cppe|s Stcp was
t|e p|cuc |ec|p|ert cl ¤ar] |rcust|]
accc|aces.
|t |as ueer |eccçr|sec as t|e 'Most
Respected Compauy iu the Retai| Sector'
u] Bus|ress Wc||c.
S|cppe|s Stcp wcr t|e p|est|ç|cus |c]a|t]
award for 'Customer 8 8raud Loya|ty' iu the
'Retai| Sector' ccrsecut|ve|] lc| twc ]ea|s
(2010 c 2011} at t|e lc]a|t] Su¤¤|t.
I|e Cc¤par] a|sc |ece|vec t|e "Most
Admired lou-Store Fashiou aud Lifesty|e
Retai|er of the Year" awa|c at t|e |¤açes
|as||cr /wa|cs 2011 lc| |ts ecc¤¤e|ce
weus|te. www.s|cppe|sstcp.cc¤
EI Reta|| /wa|cs, uac|ec u] t|e Eccrc¤|c
I|¤es arc Reta||e|s /sscc|at|cr cl |rc|a (R/|},
|ave awa|cec S|cppe|s Stcp w| t|
t|e 'Marletiug ldea of The Year' awa|c lc|
t|e Zcctcc ¤e|c|arc|se t|e-up w|t|
Vccalcre-Essa|.
S|cppe|s Stcp |as ueer ccrle||ec w|t| t|e
°8est Retai| Marletiug Campaigu of the
Year° awa|c arc ' Customer Loya|ty
programme' awa|c at t|e 7t| Re|c c Ia]|c|
Auuua| Report 2O1O-11 33
0ver the years the Compauy's success iu the retai| fie|d was mouitored aud awarded by the
busiuess wor|d. lt wasu't Lady Lucl who smi|ed ou the orgauisatiou aud he|ped it achieve
what it has, but the dedicated devotiou of a|| the Associates, Customers aud Staleho|ders.
/wa|cs lc| Reta|| E·ce||erce at /s|a Reta||
|c|u¤ (/s|a Reta|| Ccrç|ess}.
S|cppe|s Stcp a|sc |ece|vec a Merit
Certificate iu the category '0epartmeut
Store more thau 2O,OOO sq.ft.' at t|e VVRD
Reta|| Des|çr /wa|cs 2011.
|0WERBR/|DS, a |esea|c| c||ver ucc| cl
|rc|a's ¤cst pcwe|lu| u|arcs |eccçr|sec
Shoppers Stop as oue of the most
aspiratioua| brauds, w||c| |as lc|t|l|ec |ts
p|eserce |r t|e |ea|ts arc ¤|rcs cl t|e |rc|ar
ccrsu¤e|s.
S0ClAL
RESP0lSl8lLlTY
Auuua| Report 2O1O-11 34
FI0NEEßINß 806IAI
ßE8F0N8IßIIII¥
At Shoppers Stop, it is a mora| duty to give bacl to society. Severa| socia| coucerus are supported at a|| |eve|s of the
orgauisatiou. Associates are eucouraged to leep iu miud their Socia| Respousibi|ity, aud the Compauy uses measures
aud techuo|ogy that positive|y effect the we|fare of society. Customers are a|so motivated to |ool at the big picture
aud he|p out the |ess fortuuate.
/s a Respcrs|u|e Cc|pc|ate C|t|ter, S|cppe|s
Stcp |as suppc|tec ¤ar] scc|a| ccrce|rs.
0ve| t|e ]ea|s, S|cppe|s Stcp |as ta|er ¤ar]
Cc|pc|ate Scc|a| Respcrs|u|||t] |r|t|at|ves tc
vc|ce va||cus causes. Sc¤e |r|t|at|ves cl t|e
Cc¤par]s p|||art||cp] |rc|uce ç|v|rç awa]
ç|eer p|arts tc custc¤e|s at t|e |aurc| cl
Berça|u|u's l||st S|cppe|s Stcp stc|e. I|e l||st
S|cppe|s Stcp stc|e |r Kc||ata ue|rç
|rauçu|atec u] urce|-p||v||eçec c|||c|er, arc
t|e |a||||a¤a lest|va| p|c¤ct|rç |u|a| a|t|sars
sc t|at t|e] ccu|c sta|t tc ea|r susta|rau|e
|rcc¤es. Sc¤e cl t|e ct|e| |r|t|at|ves ta|er |r
t|e past ]ea| a|e.
Euergy Couservatiou
| r 2007 we l c|¤u| atec ar Ere|ç]
Varaçe¤ert |c||c]. Ia||rç |t a step lc|wa|c,
we tcc| up 'Erv||cr¤ert ||cject /' arc
cep|c]ec ere|ç] sav|rç arc ccrse|vat|cr
s]ste¤s |||e Cert|a| Ere|ç] Vcr|tc||rç
S]ste¤s (CEVS}, Va||au|e ||ecuerc] D||ve
(V|D}, lED, |esc|ecu||rç cl /|| |arc||rç ur|ts
(/|us}, |esu|t|rç |r a 1cº |ecuct|cr |r ere|ç]
ur|t ccrsu¤pt|cr |r lIl stc|es. |r t|e past ]ea|
we |ave ueer au|e tc save 11 |a||s ur|ts.
8acl to Earth by homeStop
|c¤eStcp ccrt|ruec tc clle| t|e ecc-l||erc|]
u|arc Bac| tc Ea|t|. I||s cc||ect|cr |as ueer
|rsp||ec u] ratu|e arc t|e p|ccucts a|e ¤ace
cl |uuue| wccc, ceac wccc, C||rese jujuue,
ua¤ucc, jute, ratu|a| l|u|e, |ec]c|ec wccc arc
||rer. 0re car c|ccse l|c¤ a w|ce |arçe cl
p|ccucts ac|css cateçc||es |||e lu|r|s||rç, uec
||rer, ||tc|er accessc||es arc |c¤e cecc|.
8raud Campaigu 'Start Somethiug lew'
Ca||]|rç lc|wa|c t|e u|arcs p|||cscp|] cl
Sta|t Sc¤et||rç |ew, t|e u|arc ca¤pa|çrs
cl S|cppe|s Stcp |ave vc|cec va||cus scc|a|
ccrce|rs arc causes | r | ts t]p| ca|
tcrçue-|r-c|ee| ¤arre|. I|e u|arc ca¤pa|çr
cl t|e ]ea| 2008 vc|cec t|e cause cl
erv||cr¤ert ccrse|vat|cr.
I|e cu||ert u|arc ca¤pa|çr vc|ces u|uar
scc|a| ccrce|rs.
Fouudatiou 0ay ce|ebratiou
I|e |curcat|cr Da] cl S|cppe|s Stcp |s
cec|catec tc up|c|c|rç scc|a| causes. Eac|
stc|e, |eç|cr arc Se|v|ces 0ll|ce |e|ps ar |C0
cl |ts c|c|ce. |r 2010 t|e Se|v|ces 0ll|ce |ac
c|çar|sec a B|ccc Dcrat|cr c||ve tc suppc|t
t|e cause cl I|a|asse¤|a |r asscc|at|cr w|t|
t|e State B|ccc I|arslus|cr Ccurc||.
Sa|war Kamee/ 0upatta (SK0)
Exchauge offer
I||s |s ar arrua| e·c|arçe clle| t|at S|cppe|s
Stcp |as ccrcuctec lc| ¤ar] ]ea|s |r
asscc|at|cr w|t| |C0s |||e Ccrce|r |rc|a arc
Cccrj. |c| t||s clle| we |rv|te custc¤e|s tc
ccrate t|e|| c|c uut wea|au|e SKDs tcwa|cs
t|e cause arc |r |etu|r erjc] c|sccurts cr
t|e|| rew pu|c|ases cl SKDs.
Auuua| Report 2O1O-11 35
80AR0 0F 0lRECT0RS
C0V||D S|R|K|/|DE B. S. |/CES| ||RV|K S||C|
DEE|/K C|/|S/S
||I|| S/|C|/V| S|/|Z//D D/l/l
Culu V|RC|/|D/||
|EEl C. R/|EJ/ R/V| C. R/|EJ/
C|/|DRu l. R/|EJ/
Auuua| Report 2O1O-11 36
C|a||¤ars State¤ert 039
Bca|c cl D||ectc|s 010
||rarc|a| ||ç|||ç|ts arc Ke] Rat|cs 011
D||ectc|s Repc|t 012
Varaçe¤ert D|scuss|cr c /ra|]s|s Repc|t 050
Cc|pc|ate Ccve|rarce Repc|t 0c1
/uc|tc|s Repc|t 079
Ba|arce S|eet 082
||cl|t c lcss /cccurt 083
Cas| ||cw State¤ert 081
|ctes tc t|e ||rarc|a| State¤erts 089
Ba|arce S|eet /ust|act arc Cc¤par]s
Cere|a| Bus|ress ||cl||e 10c
||rarc|a| |rlc|¤at|cr cl Suus|c|a|] Cc¤par|es 107
Ccrsc||catec ||rarc|a| State¤erts 109
C0lTElT
Auuua| Report 2O1O-11 31
Auuua| Report 2O1O-11 38
ChAlRMAl'S STATEMElT
I|e ¤cce|r |eta|| |rcust|] |r |rc|a |as ccre we|| |r
|Y 2010-11 cr t|e uac| cl eccrc¤|c arc pc||t|ca|
stau|||t], |crç te|¤ pc||c] ccrt|ru|t], st|crç
urce||]|rç eccrc¤|c ç|cwt|, |¤p|cvec custc¤e|
sert|¤ert, ç|cw|rç u|uar|tat|cr c all|uerce arc
erc|¤cus|] ç|cw|rç pctert|a| ce¤arc |r t|e |rc|ar
Va||et.
|c| t|e ]ea| 2010-11, ]cu| Cc¤par] |as ac||evec
|everues cl 1929 c|c|es, up u] 23º, EB|DI/ cl
152 c|c|es , up u] 31º arc ||cl|t alte| Ia· cl 75
c|c|es, up u] 50º, cve| t|e p|ev|cus ]ea|.
0pe|at|rç p|cl|t (EB|DI/} |as |rc|easec l|c¤ 7.30º
|r t|e p|ev|cus l|rarc|a| ]ea| tc 8º cl sa|es |r t|e
cu||ert l|rarc|a| ]ea|.
|r t|e ]ea| çcre u], ]cu| Cc¤par] saw a l||e-tc-
l||e sa|es ç|cwt| cl 17º, w|||st c|a|r |eve| ç|cwt|
|r sa|es was 23º. I|e /ve|açe Se|||rç |||ce c
I|arsact|cr S|te |ave seer ç|cwt|s cl 7º arc 9º
|espect|ve|] cve| t|e |ast ]ea|. I|e 0|| arc
||c¤cte|s Wa||arts |ssue tcta||rç tc 253 c|c|es
was successlu||] cc¤p|etec u] ]cu| Cc¤par]. |r
v|ew cl t||s |cuust pe|lc|¤arce a 15º c|v|cerc
|as ueer |ecc¤¤ercec u] t|e Bca|c, suuject tc
app|cva| cl ¤e¤ue|s.
/s pa|t cl cu| ccrt|rucus erceavcu| tc ç|cw arc
peret|ate t|e ¤a||et, ]cu| Cc¤par] cperec c rew
S|cppe|s Stcp stc|es cu||rç t|e ]ea| ÷ cre eac| at
Berça|u|u, B|cpa|, De|||, /u|arçauac, S|||çu|| arc
Du|çapu| ta||rç t|e ru¤ue| cl c|a|r cl stc|es tc 38
as cl Va|c| 31, 2011. /t a c|a|r |eve| ]cu|
Cc¤par] |as accec ¤c|e t|ar 3,00,000 scua|e
leet |r t|e ]ea| 2010-11.
|r t|e ]ea|, ]cu| Cc¤par] |as accu||ec 32º sta|e
suus|c|a|] cl ]cu| Cc¤par]. I|e|elc|e, t|e
ccrsc||catec l|rarc|a|s cl t|e ]ea| |el|ect |]pe|C|t]
l|rarc|a| ru¤ue|s. Ycu| Cc¤par] arc |ts
¤araçe¤ert ue||eves t|at t|e|e |s |¤¤erse
pctert|a| |r t|e |]pe|¤a||et sectc| cl ¤cce|r
|eta|||rç, arc |]pe|C|t] w||| ue a s|çr|l|cart ç|cwt|
erç|re lc| ]cu| Cc¤par]'s cve|a|| p|cl|tau|||t] |r t|e
]ea|s tc cc¤e. |]pe|C|t]'s uus|ress |s cu||ert|] |r
t|e evc|ut|cr staçe ue|rç |r |ts l|lt| ]ea| cl
cpe|at|cr. |r te|¤s cl custc¤e|s l|arc||se |t |as
ueer au|e tc ea|r cc¤¤ercau|e |c]a|t] l|c¤ |ts
custc¤e|s. |ts stc|es a|e we|| app|ec|atec u]
custc¤e|s arc ever ac¤||ec |r t|e |rcust|].
/wa|cs ccrle||ec upcr |]pe|C|t] ac|css |ast ¤ar]
]ea|s suppc|t t||s lact.
Ycu| Cc¤par]'s |c]a|t] p|cç|a¤¤e, '|||st C|t|ter'
ac||evec a ¤ajc| ¤||estcre |r |Y 10-11. I|e tcta|
¤e¤ue|s||p cl t|e p|cç|a¤¤e c|cssec t|e
2 ¤||||cr ¤a|| arc tcca] |s cre cl t|e |a|çest |c]a|t]
p|cç|a¤¤es ac|css sectc|s. Ycu| Cc¤par]'s |||st
C|t|ters ccrt|rue tc ue a |uçe uast|cr cl suppc|t
arc |ave ccrt||uutec tc 73º cl ]cu| Cc¤par]'s
sa|es. /s cu| |c]a|t] p|cç|a¤¤e ç|cws, cu|
|aceucc| lar c|uu |s a|sc ç|cw|rç ve|] last. |t |as
rcw c|cssec 7 |a||s lars. |t |s ve|] |¤pc|tart lc| a
|eta|| cc¤par] |||e ]cu|s tc |e¤a|r |r tcuc| w|t|
custc¤e|s at a|| t|e t|¤es arc scc|a| ¤ec|a |s ar
|¤pc|tart averue tc |e¤a|r |r ccrstart tcuc| w|t|
custc¤e|s.
|r t|e ]ea| urce| |ev|ew, ]cu| Cc¤par] |ece|vec a
ru¤ue| cl ccvetec awa|cs. I|ese |ave ueer
leatu|ec cr paçe rcs. 32 arc 33 cl t||s /rrua|
Repc|t. 0re cl t|e ¤cst s|çr|l|cart was
'Vcst Respectec Reta|| Cc¤par] cl t|e Yea|' l|c¤
Bus|ress Wc||c. I||s awa|c |s ç|ver tc sc¤e cl t|e
uest cc¤par|es |r va||cus sectc|s, arc |r ¤cce|r
|eta|| ]cu| Cc¤par] |as wcr |t. /pa|t l|c¤ t|at
ct|e| |¤pc|tart awa|cs t|at ]cu| Cc¤par] |as
wcr we|e ÷ VVRD Reta|| Des|çr /wa|c, Custc¤e|
c B|arc lc]a|t] /wa|c at t|e |cu|t| lc]a|t] /wa|cs
p|cç|a¤¤e arc ¤cst ac¤||ec '|cr Stc|e |as||cr
arc l|lest]|e Reta|| cl I|e Yea|' at |V/CES |as||cr
/wa|cs 2011. I|ese awa|cs cr|] |e|te|ate t|e
|espect arc ac¤||at|cr t|at ]cu| Cc¤par]
cc¤¤arcs |r t|e |rcust|] arc a¤crçst |ts pee|s.
Ycu| Cc¤par] |as c|awr up e·ters|ve p|ars tc
|aurc| |ts re·t p|ase cl ç|cwt| arc e·pars|cr.
W|t| t|e st|crç uac||rç cl ]cu| Cc¤par]'s
custc¤e|s, s|a|e|c|ce|s, asscc|ates arc vercc|
pa|tre|s, ]cu| Cc¤par] arc |ts ¤araçe¤ert |s
ccrl|cert t|at t|e ]cu| Cc¤par] w||| çc l|c¤
st|erçt| tc st|erçt| |r t|e lutu|e arc ccrt|rue tc ue
a ¤ajc| arc s|çr|l|cart p|a]e| |r t|e l|e|c cl |rc|ar
¤cce|r |eta||.
C|/|DRu l. R/|EJ/
C|a||¤ar
Auuua| Report 2O1O-11 39
Fß0M0IINß
IEAßEß8hIF
|r |]pe|C|t] Reta|| l|¤|tec ¤a||rç |t a 51º (|rc|a}
Auuua| Report 2O1O-11 4O
Fiuaucia| high|ights 8 Key Ratios
( |r |acs}
FroI|tab|||ty 8tatomoot 2010-11 2009-10 2008-09 2007-08 2006-07
|c. cl Stc|es 97 93 72 73 c0
Iocomo
C|css Reta|| Sa|es 190,713 151,c58 138,311 119,008 88,505
less. Va|ue /ccec Ia· 8,9c0 c,857 c,138 5,551 3,871
C|css Reta|| Sa|es (|et cl ta·es} 181,753 117,801 131,873 113,157 81,c31
0t|e| 0pe|at|rç c V|sce||arecus |rcc¤e 2,412 2,135 2,555 2,5c7 2,77c
184,165 150,23c 131,128 11c,021 87,10c
Expood|turos
Ccst cl çcccs sc|c 121,867 98,12c 88,000 75,351 5c,879
E¤p|c]ee ccsts 9,898 8,759 8,588 7,82c 5,850
0pe|at|rç arc ac¤|r|st|at|ve e·perses 37,189 31,700 32,91c 2c,312 1c,801
168,954 138,885 129,501 109,522 79,532
EßIßIA 15,211 11,351 1,921 c,503 7,871
|rte|est arc l|rarce c|a|çes 734 1,8c9 2,5c0 1,121 110
Dep|ec|at|cr 3,100 3,103 c,313 3,927 2,5c3
||cl|t Belc|e Ia· uelc|e e·cept|cra| |te¤s 11,377 c,379 (3,919} 1,152 1,871
E·cept|cra| |te¤s (5} (188} 2,18c ÷ ÷
||cl|t Belc|e Ia· alte| e·cept|cra| |te¤s 11,383 c,5c7 (c,13c} 1,152 1,871
||cl|t /lte| Ia· 7,518 5,023 (c,372} c97 2,c20
ßa|aoco 8hoot |toms
S|a|e Cap|ta| 4,108 3,191 3,187 3,18c 3,183
0pt|cra||] Ccrve|t|u|e Wa||arts ~ 3,072 ÷ ÷ ÷
Rese|ve c Su|p|us 55,702 21,32c 19,822 2c,183 2c,031
lcar |urcs 14,872 19,935 20,77c 17,293 11,311
Dele||ec Ia· (l|au|||t]}//ssets 325 155 ÷ (1c9} (112}
Cap|ta| E¤p|c]ec 74,682 50,821 11,085 17,131 11,213
||·ec /ssets 35,679 29,8c7 25,873 21,038 15,21c
|et Wc|||rç Cap|ta| 14,959 8,531 8,1c7 15,021 21,13c
FroI|t 8 Ioss ßat|os
Sa|es (C|a|r |eve| ç|cwt|} 23.0% 10.0º 15.9º 31.2º 32.7º
Sa|es (l||e tc l||e ç|cwt|} 16.7% 3.7º 1.2º 11.0º 21.0º
C|css ||cl|t Va|ç|r 31.4% 31.9º 31.7º 32.0º 31.1º
0pe|at|rç E·perses Rat|c 24.7% 2c.2º 30.0º 28.7º 25.1º
0pe|at|rç Va|ç|r (EB|DI/} (Belc|e e·cept|cra| |te¤} 8.0% 7.3º 3.cº 5.5º 8.9º
|BI Va|ç|r uelc|e e·cept|cra| |te¤ 6.0% 1.1º -2.9º 1.2º 5.5º
|/I Va|ç|r 3.9% 3.2º -1.cº 0.cº 3.0º
|rte|est Ccve|açe 8.9 1.7 1.0 5.3 13.7
ßa|aoco 8hoot ßat|os
Deutc|s |c. cl Da]s 3 3 3 2 3
C|ec|tc|s |c. cl Da]s 79 93 91 c9 55
Stcc| Iu|rcve| Rat|c 3.7 3.5 1.0 3.3 3.7
Cu||ert Rat|c 1.4 1.3 1.5 2.0 2.7
/ssets Iu|rcve| Rat|c 3.1 3.3 3.1 2.7 2.1
Deut Ecu|t] Rat|c 0.2 0.c 0.9 0.c 0.1
ßoturo to Iovostors
Retu|r cr |etwc|t| 26.7% 30.1º -5.2º 8.7º 18.8º
Retu|r cr Cap|ta| E¤p|c]ec 19.3% 17.1º -3.0º 5.8º 11.3º
Bcc| Va|ue |e| S|a|e (|r } 75.71 88.58 cc.85 85.11 85.1c
E|S (ta||rç ecu|t] s|a|e at 10/- eac|}
( 5 lc| 2010-11(|r }
Bas|c 9.5 11.1 (18.3} 2.0 7.58
D||utec 9.4 11.3 (18.3} 2.0 7.57
Cas| E|S 13.44 23.30 (0.17} 13.27 15.00
D|v|cerc |e| S|a|e 0.75 1.50 ÷ 1.50 1.50
|cte. |u¤ue| cl stc|es |rc|uces t|e S|cppe|s Stcp Depa|t¤ert stc|es arc Spec|a||t] Stc|es (v|t |c¤e Stcp, Vct|e|ca|e, C|csswc|c
Bcc|stc|es, /|ce||a, Vac, C||r|cue, Estee lauce| c /||pc|t Bus|ress}.
Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 11
Dea| Ve¤ue|s,
Ycu| D||ectc|s a|e p|easec tc p|esert t|e 11
t|
/rrua| Repc|t cr t|e uus|ress arc cpe|at|crs cl t|e Cc¤par] tcçet|e| w|t| t|e /uc|tec
State¤erts cl /cccurts lc| t|e ]ea| ercec Va|c| 31, 2011.
F|oaoc|a| ForIormaoco
( |o |acs}
¥oar oodod Yea| ercec
Fart|cu|ars March 31, 2011 Va|c| 31, 2010
ßota|| Iuroovor
0wr ¤e|c|arc|se (|rc|uc|rç ccrcess|cr sa|es} 172,583.12 111,583.75
Ccrs|çr¤ert ¤e|c|arc|se 18,130.30 13,071.07
0t|e| Reta|| cpe|at|rç |rcc¤e 2,186.88 2,178.93
192,900.30 15c,83c.75
less. Va|ue /ccec Ia· 8,960.24 c,85c.81
less. Ccst cl ccrs|çr¤ert ¤e|c|arc|se 12,965.82 9,129.83
170,974.24 110,550.08
0t|e| |rcc¤e 945.47 c31.17
171,919.71 111,181.25
||cl|t uelc|e Dep|ec|at|cr c Ia· 14,482.46 9,cc9.57
less. Dep|ec|at|cr 3,099.88 3,102.51
||cl|t uelc|e Ia· 11,382.58 c,5c7.03
less. ||cv|s|cr lc| Ia· 3,865.00 1,513.98
||cl|t alte| Ia· 7,517.58 5,023.05
/cc/(less}. Ba|arce u|cuç|t lc|wa|c l|c¤ p|ev|cus ]ea| 2,685.19 (1,17c.00}
||cpcsec D|v|cerc (|rc|. D|v|cerc D|st||uut|cr Ia·} 695.84 c10.71
I|arsle| tc Cere|a| Rese|ve 375.88 251.15
Ba|arce ca|||ec lc|wa|c 9,131.05 2,c85.19
ForIormaoco ßov|ow
Ycu| Cc¤par] |as cperec e|ç|t cepa|t¤erta| stc|es |.e. cre eac| at /u|arçauac, Berça|u|u, B|cpa|, Du|çapu|, |rcc|e, |ew De|||, |ure
arc S|||çu||, ta||rç |ts c|a|r cl stc|es tc 10 stc|es (|rc|uc|rç twc a||pc|t stc|es} sp|eac ac|css |rc|a. |u|t|e|, t|e Cc¤par] |as a|sc cperec
cre '|c¤eStcp' at luc|rcw, ta||rç |ts ta||] tc 5 stc|es.
I|e |everue |s 171,919.71 |acs (p|ev|cus ]ea| . 111,181.25 |acs}, |eç|ste||rç a ç|cwt| cl 21.77º ]-c-] uas|s. I|e ret ||cl|t ac||evec
was 7,517.58 |acs (p|ev|cus ]ea| ret p|cl|t cl 5,023.05 |acs}.
ß|v|dood
Ycu| D||ectc|s a|e p|easec tc |ecc¤¤erc a c|v|cerc cl 0.75 pe| ecu|t] s|a|e cl 5 eac|. [(p|ev|cus ]ea| . 1.50} pe| ecu|t] s|a|e cl
10 eac|.[
I|e c|v|cerc, crce app|cvec u] ¤e¤ue|s |r t|e ersu|rç /rrua| Cere|a| Veet|rç w||| ue pa|c cut cl t|e p|cl|ts cl t|e Cc¤par] lc| t|e
]ea| arc w||| su¤ up tc a tcta| cl c95.81 |acs, |rc|uc|rç c|v|cerc c|st||uut|cr ta·.
Awards aod ßocogo|t|oo
Ycu| Cc¤par] |as ueer ccrle||ec |rte|-a||a w|t| t|e lc||cw|rç awa|cs arc |eccçr|t|crs cu||rç t|e ]ea| urce| |ev|ew.
º Depa|t¤ert Stc|e cl t|e Yea| u] Sta| Reta||e| /wa|cs.
º Ve||t Ce|t|l|cate |r t|e cateçc|] Depa|t¤ert Stc|e > 20000 sc.lt. at t|e VVRD Reta|| Des|çr /wa|cs 2011.
Shoppers Stop Ltd. 0irectors' Report
/rrua| Repc|t 2010-11 | 12
º ||est|ç|cus lc]a|t] awa|c lc| Custc¤e| c B|arc |c]a|t] |r t|e Reta|| Sectc| at t|e lc]a|t] Su¤¤|t.
º Best Reta|| Va||et|rç Ca¤pa|çr cl t|e Yea| /wa|c arc Custc¤e| lc]a|t] p|cç|a¤¤e awa|c at t|e 7t| Re|c c Ia]|c| /wa|cs lc|
Reta|| E·ce||erce at /s|a Reta|| |c|u¤ (/s|a Reta|| Ccrç|ess}.
º Va||et|rç |cea cl I|e Yea| awa|c lc| t|e Zcctcc ¤e|c|arc|se t|e-up w|t| Vccalcre-Essa| at EI Reta|| /wa|cs, uac|ec u] t|e
Eccrc¤|c I|¤es arc Reta||e|s /sscc|at|cr cl |rc|a (R/|}.
º Vcst Respectec Cc¤par] |r t|e Reta|| Sectc| u] Bus|ress Wc||c.
º s|cppe|sstcp.cc¤ |as ueer |eccçr|sec as t|e Vcst /c¤||ec |cr-Stc|e |as||cr arc l|lest]|e Reta||e| cl t|e Yea| at t|e |¤açes
|as||cr /wa|cs 2011.
Furthor Issuo oI 6ap|ta|
Ic ¤eet t|e lurc |ecu||e¤erts erta||ec u] t|e st|crç ç|cwt| pctert|a|s, t|e Cc¤par] |ssuec 2,000,000 ecu|t] s|a|es cl 10/-
eac| tc 0ua||l|ec |rst|tut|cra| Bu]e|s at a p||ce cl c19/- |r accc|carce w|t| SEB| (|ssue cl Cap|ta| arc D|sc|csu|e Recu||e¤erts}
Reçu|at|crs, 2009 c pu|suart tc t|e app|cva| cl ¤e¤ue|s accc|cec u] |csta| Ba||ct cr Dece¤ue| 1c, 2009. |u|t|e| t|e Cc¤par] |as a|sc
s|¤u|tarecus|] a||cttec 1,000,000 ecu|t] s|a|es cl 10/- eac| at a p||ce cl 307.18/-, tc t|e p|c¤cte|s cl t|e Cc¤par] cr p|ele|ert|a|
uas|s, ccrsecuert upcr e·e|c|se cl t|e|| cpt|cr lc| ccrve|s|cr cl 1,000,000 wa||arts, |r accc|carce w|t| SEB| Cu|ce||res.
6rod|t ßat|og
Du||rç t|e ]ea|, ||tc| Rat|rçs |rc|a |||vate l|¤|tec |as upç|acec |at|rç lc| cc¤¤e|c|a| pape| arc s|c|t-te|¤ ceut p|cç|a¤¤e cl Cc¤par]
l|c¤ '|1(|rc}' tc '|1÷(|rc}'. I|e ||¤|t cl t|e |at|rç |as ueer |rc|easec l|c¤ 80 c|c|es tc 100 c|c|es cut cl w||c| 50 c|c|es wcu|c
ue ca|vec cut cl t|e sarct|crec wc|||rç cap|ta| ||¤|t cl t|e Cc¤par].
Du||rç t|e ]ea|, C|ec|t /ra|]s|s c Resea|c| l|¤|tec (C/RE} |as awa|cec '|R1÷' |at|rç lc| cc¤¤e|c|a| pape| arc s|c|t-te|¤ ceut
p|cç|a¤¤e cl Cc¤par] lc| 100 c|c|es, cut cl w||c| 70 c|c|es wcu|c ue ca|vec cut cl t|e sarct|crec wc|||rç cap|ta| ||¤|t cl t|e
Cc¤par]. Ycu| Cc¤par] |as a|sc cuta|rec c|ec|t |at|rç l|c¤ C/RE lc| |crç-te|¤ uar| lac|||t|es cl 291 c|c|es arc s|c|t te|¤ uar|
lac|||t|es cl 10 c|c|es. I|e |at|rç ass|çrec lc| |crç-te|¤ uar| lac|||t|es arc s|c|t-te|¤ uar| lac|||t|es a|e 'C/RE /÷' arc '|R1÷'
|espect|ve|]. Ycu| Cc¤par] |as a|sc cuta|rec c|ec|t |at|rç 'C/RE / ÷' l|c¤ C/RE lc| |cr-Ccrve|t|u|e Deuertu|e |ssue cl 100
c|c|es.
F|oaoco
Ycu| Cc¤par] ccrt|rues w|t| va||cus |r|t|at|ves lc| u||rç|rç ccwr t|e ccst cl uc||cw|rçs w||c| |rc|uces app||cat|cr cl s|c|t-
te|¤ |rst|u¤erts |||e cc¤¤e|c|a| pape|, wc|||rç cap|ta| ce¤arc |cars w|t||r wc|||rç cap|ta| uc||cw|rç, sc as tc |ave lurcs at
cc¤pet|t|ve ccst.
8ub-d|v|s|oo oI sharos
/s app|cvec u] ¤e¤ue|s, u] |csta| Ba||ct cr Dece¤ue| 23, 2010, t|e Cc¤par] |as suu-c|v|cec t|e ecu|t] s|a|e cl t|e lace va|ue cl
10 eac| |rtc twc ecu|t] s|a|es cl 5 eac|. I|e Cc¤par] |ac l|·ec Jarua|] 13, 2011 as t|e Recc|c Date lc| t|e pu|pcse cl suu-c|v|s|cr
cl t|e ecu|t] s|a|es.
Emp|oyoos 8tock 0pt|oo F|ao
I|e ç|art cl stcc| cpt|crs tc e¤p|c]ees |s a ¤ec|ar|s¤ tc a||çr t|e |rte|est cl e¤p|c]ees w|t| t|cse cl t|e Cc¤par], tc p|cv|ce t|e¤
w|t| ar cppc|tur|t] tc s|a|e t|e ç|cwt| cl t|e Cc¤par] arc a|sc tc lcste| t|e |crç-te|¤ cc¤¤|t¤ert. Ycu| Cc¤par] |as lc|¤u|atec arc
ces|çrec va||cus E¤p|c]ees Stcc| 0pt|cr ||ar Sc|e¤es lc| |ts e¤p|c]ees arc cpt|crs we|e ç|artec |r accc|carce w|t| Secu||t|es arc
E·c|arçe Bca|c cl |rc|a (E¤p|c]ees Stcc| 0pt|cr Sc|e¤e arc E¤p|c]ees Stcc| |u|c|ase Sc|e¤e} Cu|ce||res, 1999, as a¤ercec. I|e
Cc¤persat|cr/ Re¤ure|at|cr Cc¤¤|ttee cl t|e Cc¤par] ac¤|r|ste| arc ¤cr|tc| t|e sa¤e.
Du||rç t|e ]ea| urce| |ev|ew, t|e Cc¤par] |as a||cttec 151,120 ecu|t] s|a|es cl 10 eac| (uelc|e suu-c|v|s|cr as statec aucve} arc
29,308 ecu|t] s|a|es cl 5/- eac| cr e·e|c|se cl vestec cpt|crs u] ce|ta|r e¤p|c]ees urce| t|e sa|c ES0| Sc|e¤es.
I|e pa|t|cu|a|s cl E¤p|c]ees Stcc| 0pt|cr ||ar (ES0|} Sc|e¤es, as |ecu||ec u] SEB| (E¤p|c]ee Stcc| 0pt|cr Sc|e¤e arc E¤p|c]ee
Stcc| |u|c|ase Sc|e¤e} Cu|ce||res, 1999, as a¤ercec, a|e appercec |e|ew|t| arc lc|¤s pa|t cl t||s Repc|t.
Shoppers Stop Ltd. 0irectors' Report
/rrua| Repc|t 2010-11 | 13
8ubs|d|ary 6ompao|os aod 6ooso||datod F|oaoc|a| 8tatomoots
|r accc|carce w|t| t|e /cccurt|rç Starca|c /S-21 cr ccrsc||catec l|rarc|a| state¤erts, ]cu| D||ectc|s |ave p|easu|e |r attac||rç
t|e ccrsc||catec l|rarc|a| state¤erts, w||c| lc|¤ pa|t cl t||s /rrua| Repc|t. I|ese ccrsc||catec l|rarc|a| state¤erts p|cv|ce l|rarc|a|
|rlc|¤at|cr aucut ]cu| Cc¤par] arc |ts suus|c|a||es as a s|rç|e ert|t].
V|r|st|] cl Cc|pc|ate /lla||s, Ccve|r¤ert cl |rc|a v|ce Cere|a| C||cu|a| |c . 2/2011 catec |eu|ua|] 8, 2011, |as ç|artec çere|a|
e·e¤pt|cr urce| Sect|cr 212 cl t|e Cc¤par|es /ct, 195c, tc t|e |c|c|rç cc¤par|es, l|c¤ attac||rç t|e spec|l|ec cccu¤erts cl |ts
suus|c|a|] cc¤par|es, as |ele||ec |r Sect|cr 212(1} cl t|e /ct, w|t| |ts Ba|arce S|eet, cr lu|l|||¤ert cl ce|ta|r ccrc|t|crs. I|e Cc¤par]
|as lu|l|||ec t|ese spec|l|ec ccrc|t|crs arc accc|c|rç|], t|e sa|c cccu¤erts cl suus|c|a|] cc¤par|es a|e rct attac|ec tc t|e l|rarc|a|
state¤erts cl t|e Cc¤par]. / su¤¤a|] cl t|e l|rarc|a| pe|lc|¤arce cl t|e suus|c|a|] cc¤par|es |s ç|ver |r t||s /rrua| Repc|t. I|e
arrua| acccurts cl t|e suus|c|a|] cc¤par|es arc t|e |e|atec ceta||ec |rlc|¤at|cr a|e ¤ace ava||au|e tc s|a|e|c|ce|s cl t|e cc¤par]
arc suus|c|a|] cc¤par|es see||rç suc| |rlc|¤at|cr. I|e /rrua| /cccurts cl suus|c|a|] cc¤par|es a|e a|sc cper lc| |rspect|cr u] ar]
¤e¤ue| at t|e |eç|ste|ec cll|ce cl t|e cc¤par] arc cl t|e suus|c|a|] cc¤par].
Du||rç t|e ]ea| urce| |ev|ew, cr Jure 30, 2010, t|e Cc¤par] |as |rc|easec |ts ecu|t] sta|e |r |]pe|c|t] Reta|| (|rc|a} ltc., l|c¤ 19º tc
51º arc ¤ace |t, as |ts suus|c|a|]. I|e Cc¤par] a|sc |c|cs 51º cl |]pe|c|t]'s p|ele|erce s|a|e cap|ta|.
I|e Cc¤par] arc C|csswc|c Bcc|stc|es l|¤|tec, |ts w|c||]-cwrec suus|c|a|] |as ¤utua||] te|¤|ratec t|e l|arc||se aç|ee¤ert w|t|
ellect l|c¤ erc cl uus|ress |cu|s cl Septe¤ue| 30, 2010 arc accc|c|rç|], 'C|csswc|c' uus|ress was |arcec cve| uac| tc C|csswc|c
Bcc|stc|es l|¤|tec.
humao ßosourcos
I|e Cc¤par] ta|es ç|eat p||ce |r t|e cc¤¤|t¤ert, cc¤peterce arc v|çcu| s|cwr u] |ts e¤p|c]ees |r a|| |ea|¤s cl uus|ress. I|e
Cc¤par] ccrt|rues tc ta|e rew |r|t|at|ves tc lu|t|e| a||çr |ts |R pc||c|es tc ¤eet t|e ç|cw|rç reecs cl |ts uus|ress. |ecp|e ceve|cp¤ert
ccrt|rues tc ue a |e] lccus a|ea |r t|e Cc¤par]. Spec|a| ces|çrec t|a|r|rç ¤ccu|es lc| t|e l|crt||re e¤p|c]ees a|e ue|rç ce||ve|ec l|c¤
t|¤e tc t|¤e tc ¤eet t|e t|a|r|rç reecs cl t|e e¤p|c]ees. |u¤ar |e|at|crs |e¤a|rec cc|c|a| t||cuç|cut t|e ]ea|. /s |r t|e ea|||e| ]ea|s,
t|e Cc¤par] ccrcuctec seve|a| t|a|r|rç p|cç|a¤¤es.
/s cr cate cl t|e Ba|arce S|eet, t|e Cc¤par] |ac a tcta| cl 1,317 Custc¤e| Ca|e /sscc|ates.
F|xod ßopos|ts
Du||rç t|e ]ea| urce| |ev|ew, t|e Cc¤par] |as rct acceptec ar] cepcs|t urce| Sect|cr 58/ cl t|e Cc¤par|es /ct, 195c, |eac w|t|
Cc¤par|es (/cceptarce cl Depcs|ts} Ru|es, 1975. |c a¤curt cl p||rc|pa| c| |rte|est was cutstarc|rç as cr t|e Ba|arce S|eet cate.
Aud|tors
Ycu| Cc¤par]'s Statutc|] /uc|tc|s, De|c|tte |as||rs c Se||s, C|a|te|ec /cccurtarts, Vu¤ua|, |et||e at t|e ccrc|us|cr cl t|e ersu|rç
/rrua| Cere|a| Veet|rç. De|c|tte |as||rs c Se||s |ave scuç|t t|e |e-appc|rt¤ert arc |ave ccrl||¤ec t|at t|e|| |e-appc|rt¤ert, |l ¤ace,
s|a|| ue w|t||r t|e ||¤|ts |a|c ccwr urce| Sect|cr 221(1B} cl t|e Cc¤par|es /ct, 195c.
I|e /uc|t Cc¤¤|ttee arc t|e Bca|c cl D||ectc|s |ecc¤¤erc t|e |e-appc|rt¤ert cl De|c|tte |as||rs c Se||s, C|a|te|ec /cccurtarts, as
t|e Statutc|] /uc|tc|s cl t|e Cc¤par].
ß|roctors
|r app|ec|at|cr cl V|. Ccv|rc S|||||arces la|s|ç|tec v|s|cr, w|scc¤ arc çu|carce, w||c| |ave ueer |rva|uau|e tc t|e Cc¤par]'s ç|cwt|,
|e was e|evatec as a Custc¤e| Ca|e /sscc|ate c Varaç|rç D||ectc| cl t|e Cc¤par] lc| a pe||cc cl 3 ]ea|s cc¤¤erc|rç l|c¤ Ju|] 29,
2010. Belc|e t||s appc|rt¤ert, V|. S|||||arce was ||es|cert c CE0 c E·ecut|ve D||ectc| cl t|e Cc¤par].
Ycu| D||ectc|s wcu|c |||e tc p|ace cr |ecc|c t|e|| s|rce|e ç|at|tuce tcwa|cs t|e çu|carce arc ccrt||uut|cr ¤ace u] V|. S|||||arce arc
we|cc¤es ||¤, as t|e Varaç|rç D||ectc| cl t|e Cc¤par].
|r accc|carce w|t| t|e p|cv|s|cr cl t|e Cc¤par|es /ct, 195c arc /|t|c|es cl /sscc|at|cr cl t|e Cc¤par], V|. B. S. |açes| arc
V|. S|a|taac Da|a|, D||ectc|s cl t|e Cc¤par], |et||e u] |ctat|cr at t|e ersu|rç /rrua| Cere|a| Veet|rç arc ue|rç e||ç|u|e, clle| t|e¤ lc|
|e-appc|rt¤ert. / u||el |esu¤e cl t|ese D||ectc|s, ratu|e cl t|e|| e·pe|t|se |r spec|l|c lurct|cra| a|eas, ra¤es cl cc¤par|es |r w||c|
t|e] |c|c t|e c||ectc|s||ps/c|a||¤ars||ps cl Cc¤¤|ttees cl t|e Bca|c as st|pu|atec urce| C|ause 19 cl t|e l|st|rç /ç|ee¤ert w|t| t|e
stcc| e·c|arçes a|e ç|ver |r t|e e·p|aratc|] state¤ert arre·ec tc t|e |ct|ce ccrver|rç t|e lcu|teert| /rrua| Cere|a| Veet|rç.
Shoppers Stop Ltd. 0irectors' Report
/rrua| Repc|t 2010-11 | 11
6orporato ßovoroaoco
I|e Cc¤par] |as ueer p|c-act|ve |r lc||cw|rç t|e p||rc|p|es arc p|act|ces cl çccc Cc|pc|ate Ccve|rarce. I|e Cc¤par] |as ta|er
acecuate steps tc ersu|e t|at t|e ccrc|t|crs cl Cc|pc|ate Ccve|rarce as st|pu|atec |r c|ause 19 cl t|e ||st|rç aç|ee¤ert w|t| t|e Stcc|
E·c|arçes a|e cc¤p||ec w|t|.
/ sepa|ate sect|cr cr Cc|pc|ate Ccve|rarce arc /uc|tc|s Ce|t|l|cate |s arre·ec |e|etc arc lc|¤s pa|t cl t||s Repc|t.
6omp||aoco w|th tho 6odo oI 6ooduct
I|e Cc¤par] |ac evc|vec arc accptec a Ccce cl Ccrcuct lc| |ts Bca|c cl D||ectc|s arc |ts ¤araçe¤ert pe|scrre| uasec cr t|e
p||rc|p|es cl çccc cc|pc|ate çcve|rarce arc uest ¤araçe¤ert p|act|ces. I|e cec|a|at|cr cl cc¤p||arce w|t| t|e Ccce cl Ccrcuct |as
ueer |ece|vec l|c¤ t|e¤. I|e Ccce |s ava||au|e cr t|e weus|te cl t|e Cc¤par]. / ce|t|l|cate tc t||s ellect l|c¤ V|. Ccv|rc S|||||arce,
Varaç|rç D||ectc| lc|¤s pa|t cl t||s Repc|t.
ßomat 8uspooso Accouot üoc|a|mod 8haros
Du||rç t|e ]ea| urce| |ev|ew, 50 ecu|t] s|a|es cl 5/- eac| we|e t|arsle|ec l|c¤ t|e susperse acccurt tc a s|a|e|c|ce| ce¤at acccurt.
/s cr cate, t|e|e a|e 700 Ecu|t] S|a|es cl 5/- eac| (pcst suu-c|v|s|cr}, w||c| we|e a||cttec |r |r|t|a| |uu||c 0lle||rç cl 2005, we|e
|]|rç |r t|e esc|cw acccurt cue tc rcr-ava||au|||t] cl 13 s|a|e|c|ce|s cc||ect pa|t|cu|a|s. Desp|te va||cus |e¤|rce|s tc t|e¤, u] Ka|v]
Cc¤pute|s|a|e |||vate l|¤|tec cu| Reç|st|a| arc S|a|e I|arsle| /çert, rc |espcrse |as ueer |ece|vec. /s a |esu|t, t|e sa|c urc|a|¤ec
s|a|es a|e c|ec|tec tc 'S|cppe|s Stcp ltc ÷ urc|a|¤ec S|a|es De¤at Susperse /cccurt' |r v|ew cl cc¤p||arce cl C|ause 5/ cl t|e
l|st|rç /ç|ee¤ert. Suc| s|a|e|c|ce|s ¤a] app|cac| t|e Cc¤par] w|t| t|e|| cc||ect pa|t|cu|a|s arc p|ccl cl t|e|| |cert|t] lc| c|ec|t|rç
|ecu|s|te s|a|es l|c¤ t|e De¤at Susperse /cccurt tc t|e|| |rc|v|cua| ce¤at /cccurt. I|e vct|rç ||ç|ts cr t|ese s|a|es s|a|| |e¤a|r
l|cter t||| t|e ||ç|tlu| cwre| cl suc| s|a|es c|a|¤s t|e s|a|es.
6oosorvat|oo oI Eoorgy, Iochoo|ogy Absorpt|oo aod Foro|go Exchaogo Earo|ogs 8 0utgo
I|e Cc¤par] |s erçaçec |r t|e ccrt|rucus p|ccess cl ere|ç] ccrse|vat|cr t||cuç| |¤p|cvec cpe|at|cra| arc ¤a|rterarce p|act|ces. I|e
u||el cl t|e pa|t|cu|a|s |r |espect cl va||cus steps arc |r|t|at|ves ta|er |eça|c|rç ccrse|vat|cr cl ere|ç] arc tec|rc|cç] ausc|pt|cr arc |ts
c|sc|csu|e as st|pu|atec u] t|e Cc¤par|es (D|sc|csu|e cl |a|t|cu|a|s |r t|e Repc|t cl t|e Bca|c cl D||ectc|s} Ru|es, 1988 |s as urce|.
º Da||] captu||rç arc ¤cr|tc||rç t|e ere|ç] ccrsu¤pt|cr |r eve|] stc|e.
º /ccpt|cr cl Va||au|e ||ecuerc] D||ves (V|D's} lc| /|| |arc||rç ur|ts w|t| te¤pe|atu|e sersc|s.
º /ccpt|cr cl rew lED ||ç|t|rç tc |ecuce t|e ere|ç] ccrsu¤pt|cr |r ||ç|t|rç.
º Ccrt|c||ec t|e ere|ç] ccrsu¤pt|cr cl |V/C s]ste¤ u] cpt|¤|s|rç t|e te¤pe|atu|e |rs|ce t|e stc|es.
º |rsta||ec capac|tc| Bar|s tc Va|rta|r t|e |cwe| lactc| arc |ecuce t|e |csses.
º Ersu|e p|evert|ve ¤a|rterarce sc|ecu|es çeru|re|] tc |ave uette| ell|c|erc] arc cutput l|c¤ t|e ecu|p¤erts.
º /|| aucve ellc|ts |esu|tec |r t|e ccrse|vat|cr cl 1,118,171 rcs cl ur|ts cl e|ect||c|t] ac|css t|e c|a|r cu||rç t|e ]ea| w||c| a¤curts
tc app·. 85.11 |acs.
I|e Cc¤par] a|sc p|cpcses tc cc¤¤erce ere|ç] auc|t|rç, |¤p|cve¤erts |r t|e pu¤p|rç s]ste¤ |rsta||ec at starca|cre stc|es, |ecuct|cr
|r ere|ç] ccst |r cue ccu|se cl t|¤e.
I|e Cc¤par] ea|rs |c|e|çr E·c|arçe cr sa|e cl |ts ¤e|c|arc|se tc |ts custc¤e|s. |c|e|çr E·c|arçe cutçc cu||rç t|e ]ea| |rc|ucec
pu|c|ase cl cc¤pute| scltwa|e arc pu|c|ase cl ¤e|c|arc|se, p|cless|cra| lees etc. I|e lc|e|çr e·c|arçe ea|r|rçs cu||rç t|e
]ea| was 1,187.10 |acs (p|ev|cus ]ea|. 1,221.11 |acs}, w|e|e as |c|e|çr E·c|arçe cutçc was 1,815.20 |acs (p|ev|cus ]ea| .
3,387.03 |acs}.
Fart|cu|ars oI Emp|oyoos
I|e pa|t|cu|a|s cl e¤p|c]ees as |ecu||ec urce| Sect|cr 217(2/} cl t|e Cc¤par|es /ct, 195c, |eac w|t| Cc¤par|es (|a|t|cu|a|s cl
E¤p|c]ees} Ru|es 1975, as a¤ercec, lc|¤s pa|t cl t||s Repc|t. |cweve|, |r pu|suarce cl Sect|cr 219(1}(u}(|v} cl t|e Cc¤par|es
/ct,195c, t|e |epc|t arc acccurts a|e ue|rç sert tc a|| s|a|e|c|ce|s cl t|e Cc¤par], e·c|uc|rç t|e State¤ert cl |a|t|cu|a|s cl E¤p|c]ees,
w||c| |s ava||au|e lc| |rspect|cr at t|e |eç|ste|ec cll|ce cl t|e Cc¤par] cu||rç |ts wc|||rç |cu|s. /r] s|a|e|c|ce| |rte|estec |r suc|
pa|t|cu|a|s ¤a] |rspect t|e sa¤e.
Shoppers Stop Ltd. 0irectors' Report
/rrua| Repc|t 2010-11 | 15
ß|roctors' ßospoos|b|||ty 8tatomoot
|u|suart tc Sect|cr 217(2//} cl t|e Cc¤par|es /ct, 195c, t|e Bca|c cl D||ectc|s ccrl||¤s t|at.
1. |r t|e p|epa|at|cr cl /rrua| /cccurts, t|e app||cau|e acccurt|rç starca|cs |ac ueer lc||cwec a|crç w|t| p|cpe| e·p|arat|cr
|e|at|rç tc ¤ate||a| cepa|tu|es,
2. t|e] |ave se|ectec suc| acccurt|rç pc||c|es arc app||ec t|e¤ ccrs|stert|] arc ¤ace jucç¤erts arc est|¤ates t|at a|e |eascrau|e
arc p|ucert sc as tc ç|ve a t|ue arc la|| v|ew cl t|e state cl alla||s cl t|e Cc¤par] as at Va|c| 31, 2011 arc cl t|e p|cl|t cl t|e
Cc¤par] lc| t|e ]ea| ercec cr t|at cate,
3. t|e] |ave ta|er p|cpe| arc sull|c|ert ca|e lc| t|e ¤a|rterarce cl acecuate acccurt|rç |ecc|cs |r accc|carce w|t| t|e p|cv|s|crs
cl t|e Cc¤par|es /ct, 195c lc| saleçua|c|rç t|e assets cl t|e Cc¤par] arc lc| p|evert|rç arc cetect|rç l|aucs arc ct|e|
|||eçu|a||t|es,
1. t|e] |ave p|epa|ec t|e arrua| acccurts cr a 'çc|rç ccrce|r' uas|s.
Aud|tors' ßoport
I|e Bca|c |as cu|] e·a¤|rec t|e Statutc|] /uc|tc|s |epc|t tc acccurts arc t|e c|a||l|cat|crs, w|e|eve| recessa|], |ave ueer |rc|ucec
|r t|e |ctes tc /cccurts, sect|cr cl /rrua| Repc|t.
Ackoow|odgomoot
Ycu| D||ectc|s w|s| tc ccrve] t|e|| app|ec|at|cr tc a|| custc¤e|s, uus|ress pa|tre|s, supp||e|s, uar|s arc l|rarc|a| |rst|tut|crs lc| t|e||
|rva|uau|e suppc|t arc |cc| lc|wa|c tc ccrt|ruec suppc|t |r t|e lutu|e. Ycu| D||ectc|s p|ace cr |ecc|c t|e|| app|ec|at|cr lc| t|e s|çr|l|cart
ccrt||uut|cr ¤ace u] a|| t|e asscc|ates at a|| |eve|s, t|e|| cc¤peterce, pe|seve|arce, arc |a|c wc|| t|at |as erau|ec t|e Cc¤par] tc
c|css rew ¤||estcres cr a ccrt|rua| uas|s.
/rc tc ]cu cu| s|a|e|c|ce|s, we a|e ceep|] ç|atelu| lc| t|e ccrl|cerce arc la|t| t|at ]cu |ave a|wa]s |epcsec |r us.
For aod oo boha|I oI tho ßoard oI ß|roctors
6haodru I. ßahoja
/p||| 29, 2011 C|a||¤ar
Ce|t|l|cate cl Cc¤p||arce w|t| t|e ccce cl ccrcuct lc| t|e l|rarc|a| ]ea| 2010-11
|, Ccv|rc S|||||arce, Varaç|rç D||ectc| cl t|e Cc¤par], |e|eu] cec|a|e t|at t|e Cc¤par] |as accptec a Ccce cl Ccrcuct lc| |ts Bca|c
Ve¤ue|s arc |ts ¤araçe¤ert pe|scrre| arc t|e] |ave all||¤ec cc¤p||arce w|t| t|e sa|c Ccce cl Ccrcuct.
For 8hoppors 8top I|m|tod
ßov|od 8hr|khaodo
Vu¤ua|, Custc¤e| Ca|e /sscc|ate c
/p||| 29, 2011 Varaç|rç D||ectc|
Shoppers Stop Ltd. 0irectors' Report
/rrua| Repc|t 2010-11 | 1c
IoIormat|oo roqu|rod to bo d|sc|osod uodor 8EßI (E808 aod E8F8} ßu|do||oos, 1999 as oo March 31, 2011
ßoscr|pt|oo E80F III E80F Iv E80F v - 1 E80F 2008 - 1 E80F 2008 - 2
0pt|crs C|artec' 311,280 211,c80 200,302 1,032,800 100,000
Date cl C|art 01.05.2001 01.02.2005 28.12.2005 29.01.2009 21.03.2010
I|e p||c|rç lc|¤u|a' 75/- 120/- I|e cpt|crs
ç|artec tc e||ç|u|e
e¤p|c]ees a|e
ç|artec at t|e
ave|açe cl t|e
ca||] c|cs|rç
p||ce cl Ecu|t]
S|a|es cl t|e
Cc¤par] at BSE
cu||rç t|e pe||cc
cl c ¤crt|s
|¤¤ec|ate|]
p|ecec|rç t|e
cate cr w||c|
t|e cpt|crs we|e
ç|artec. I|e
cpt|crs we|e
ç|artec at ar
e·e|c|se p||ce cl
192/-
I|e cpt|crs
ç|artec tc e||ç|u|e
e¤p|c]ees a|e
ç|artec at t|e
c|cs|rç p||ce
cl t|e Ecu|t]
S|a|es cl t|e
Cc¤par] at BSE
cr t|e wc|||rç
ca] |¤¤ec|ate|]
p|ecec|rç t|e
cate cl ç|art.
I|e cpt|crs we|e
ç|artec at ar
e·e|c|se p||ce cl
55/-
I|e cpt|crs
ç|artec tc e||ç|u|e
e¤p|c]ees a|e
ç|artec at t|e
c|cs|rç p||ce
cl t|e Ecu|t]
S|a|es cl t|e
Cc¤par] at BSE
cr t|e wc|||rç
ca] |¤¤ec|ate|]
p|ecec|rç t|e
cate cl ç|art.
I|e cpt|crs we|e
ç|artec at ar
e·e|c|se p||ce cl
191/-
0pt|crs vestec' 227,031 1c2,198 131,11c 309,810 11c,700
0pt|crs e·e|c|sec arc tcta| ru¤ue|
cl Ecu|t] S|a|es a||s|rç as a |esu|t
cl e·e|c|se cl cpt|crs'
219,27c 118,351 89,c30 253,5c0 13,200
0pt|crs |apsec/Carce||ec' 92,001 9c,32c 87,710 18,110 11,000
Va||at|cr cl te|¤s cl cpt|crs ÷ ÷ ÷ ÷ ÷
Vcre] |ea||sec u] e·e|c|se cl
cpt|crs
1c,115,700 17,802,180 17,208,9c0 13,915,800 2,521,200
Icta| ru¤ue| cl cpt|crs |r lc|ce' ÷ ÷ 22,932 7c1,100 375,800
0pt|oos graotod to 8oo|or Maoagomoot porsoooo|s*
B. S. |açes| 15,120 27,9c0 22,70c 100,000 ÷
Ccv|rc S|||||arce 18,1c0 11,510 10,c12 2c0,000 21,000
C. B. |ava||a| 11,280 8,910 c,938 100,000 1c,000
Sa||| |a|| 11,220 7,c20 5,901 100,000 1c,000
Varc|a| Ka¤at| ÷ ÷ ÷ 10,000 11,000
/|ur Cupta ÷ ÷ ÷ 10,000 12,000
V|ve| Vat|u| ÷ 1,c20 2,c01 20,000 8,000
Auuexure to the 0irectors' Report Shoppers Stop Ltd.
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0pt|oos graotod to aoy omp|oyoo dur|og tho yoar amouot|og to 5% or moro oI opt|oos graotod dur|og tho yoar*
B. S. |açes| 15,120 27,9c0 22,70c 100,000 ÷
Ccv|rc S|||||arce 18,1c0 11,510 10,c12 2c0,000 21,000
C. B. |ava||a| ÷ ÷ ÷ 100,000 ÷
Sa||| |a|| ÷ ÷ ÷ 100,000 ÷
0pt|crs ç|artec tc ar] e¤p|c]ee
ecua| tc c| e·ceec|rç 1º cl t|e
|ssuec cap|ta| cl t|e cc¤par] at
t|e t|¤e cl ç|art
÷ ÷ ÷ ÷ ÷
D||utec Ea|r|rçs |e| S|a|e (E|S}
pu|suart tc |ssue cl s|a|es cr
e·e|c|se cl cpt|cr ca|cu|atec |r
accc|carce w|t| (/S} 20 Ea|r|rçs
|e| S|a|e.
I|e c||utec E|S cl t|e Cc¤par] ca|cu|atec alte| ccrs|ce||rç t|e ellect cl pctert|a| ecu|t] s|a|es
a||s|rç cr acccurt cl e·e|c|se cl cpt|crs |s 9.12 pe| s|a|e.
W|e|e t|e Cc¤par] |as ca|cu|atec
t|e e¤p|c]ee cc¤persat|cr
ccst us|rç t|e |rt||rs|c va|ue cl
t|e stcc| cpt|cr, t|e c|lle|erce
uetweer e¤p|c]ee cc¤persat|cr
ccst sc cc¤putec arc t|e
e¤p|c]ee cc¤persat|cr ccst t|at
s|a|| |ave ueer |eccçr|sec |l |t |ac
usec t|e la|| va|ue cl t|e cpt|cr,
s|a|| ue c|sc|csec. I|e |¤pact cl
t||s c|lle|erce cr p|cl|ts arc cr
E|S cl t|e Cc¤par] s|a|| a|sc ue
c|sc|csec.
|ac t|e Cc¤par] lc||cwec la|| va|ue ¤et|cc lc| acccurt|rç t|e stcc| cpt|cr cc¤persat|cr, t|e
cc¤persat|cr e·perses wcu|c |ave ueer |cwe| u] 25c.93 |acs. Ccrsecuert|] p|cl|t alte| ta·
wcu|c |ave ueer ||ç|e| u] 25c.93 |acs arc t|e uas|c E|S cl t|e Cc¤par] wcu|c |ave ueer
9.81 pe| s|a|e (||ç|e| u] 0.32 pe| s|a|e} arc t|e c||utec E|S wcu|c |ave ueer 9.71 pe| s|a|e
(||ç|e| u] 0.32 pe| s|a|e}.
We|ç|tec ave|açe e·e|c|se p||ces
arc we|ç|tec ave|açe la|| va|ue
cl t|e cpt|crs s|a|| ue c|sc|csec
sepe|ate|] lc| cpt|crs w|cse
e·e|c|se p||ce e|t|e| ecua|s c| |s
|ess t|ar t|e ¤a||et p||ce cl t|e
stcc|.
I|e Cc¤par] |as rct ç|artec ar] cpt|crs cu||rç t|e l|rarc|a| ]ea| 2010-11.
/ cesc||pt|cr cl t|e ¤et|cc arc
s|çr|l|cart assu¤pt|cr usec cu||rç
t|e ]ea| tc est|¤ate t|e la|| va|ues
cl cpt|crs.
I|e Cc¤par] |as rct ç|artec ar] cpt|crs cu||rç t|e l|rarc|a| ]ea| 2010-11.
' I|e Ecu|t] S|a|e cl t|e Cc¤par] was suu-c|v|cec l|c¤ lace va|ue 10/- eac| |rtc twc Ecu|t] S|a|es cl 5/- eac| w.e.l. Jarua|] 13,
2011, ccrsecuert|] t|e cpt|crs arc |ts |e|atec |rlc|¤at|cr |as ueer acjustec.
'' 2,5c8 cpt|crs ç|artec urce| ES0| V-|| we|e rct su||erce|ec u] |es|çrec e¤p|c]ees arc as cr cate t|ese cpt|crs a|e |apsec.
Auuexure to the 0irectors' Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 18
Certificatiou by M0 8 CF0
Ic,
I|e Bca|c cl D||ectc|s
S|cppe|s Stcp l|¤|tec
Eu|e|a Icwe|s,
B W|rç, 9t| ||cc|,
V|rcspace, l|r| Rcac,
Va|ac (West},
Vu¤ua| ÷ 100 0c1
Dea| S||s,
We |e|eu] ce|t|l] t|at.
(a} We |ave |ev|ewec t|e l|rarc|a| state¤erts arc t|e cas| l|cw state¤ert lc| t|e ]ea| arc t|at tc t|e uest cl cu| |rcw|ecçe arc
ue||el.
|. t|ese state¤erts cc rct ccrta|r ar] ¤ate||a||] urt|ue state¤ert c| c¤|t ar] ¤ate||a| lact c| ccrta|r state¤ert t|at ¤|ç|t
ue ¤|s|eac|rç,
||. t|ese state¤erts tcçet|e| p|esert a t|ue arc a la|| v|ew cl t|e Cc¤par]'s alla|| arc a|e |r cc¤p||arce w|t| e·|st|rç
acccurt|rç starca|cs, app||cau|e |aws arc |eçu|at|cr.
(u} I|e|e a|e, tc t|e uest cl cu| |rcw|ecçe arc ue||el, rc t|arsact|cr erte|ec |rtc u] t|e Cc¤par] cu||rç t|e ]ea| w||c| a|e l|aucu|ert,
|||eça| c| v|c|at|ve cl t|e Cc¤par]'s ccce cl ccrcuct.
(c} We accept |espcrs|u|||t] lc| estau||s||rç arc ¤a|rta|r|rç |rte|ra| ccrt|c|s lc| l|rarc|a| |epc|t|rç arc t|at we |ave eva|uatec t|e
ellect|veress cl t|e |rte|ra| ccrt|c| s]ste¤s cl t|e Cc¤par] pe|ta|r|rç tc l|rarc|a| |epc|t|rç arc we |ave c|sc|csec tc t|e auc|tc|s
arc t|e /uc|t Cc¤¤|ttee, cel|c|erc|es |r t|e ces|çr c| cpe|at|cr cl suc| |rte|ra| ccrt|c|s, |l ar], cl w||c| we a|e awa|e arc t|e
steps we |ave ta|er c| p|cpcse tc ta|e tc |ect|l] t|ese cel|c|erc|es.
(c} We |ave |rc|catec tc t|e auc|tc|s arc t|e /uc|t Cc¤¤|ttee .
(|} s|çr|l|cart c|arçes |r |rte|ra| ccrt|c| cve| t|e l|rarc|a| |epc|t|rç cu||rç t|e ]ea|,
(||} s|çr|l|cart c|arçes |r acccurt|rç pc||c|es cu||rç t|e ]ea| arc t|at t|e sa¤e |ave ueer c|sc|csec |r t|e rctes tc t|e l|rarc|a|
state¤erts, arc
(|||} |rstarces cl s|çr|l|cart l|auc cl w||c| we |ave uecc¤e awa|e arc t|e |rvc|ve¤ert t|e|e|r, |l ar], cl t|e ¤araçe¤ert c| ar
e¤p|c]ee |av|rç a s|çr|l|cart |c|e |r t|e cc¤par]'s |rte|ra| ccrt|c| s]ste¤ cve| l|rarc|a| |epc|t|rç.
|c| S|cppe|s Stcp l|¤|tec
ßov|od 8hr|khaodo 6. ß. Nava|kar
Varaç|rç D||ectc| C|cup C||el ||rarc|a| 0ll|ce|
/p||| 29, 2011
Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 19
Iod|ao ßota|| - Ioday
|rc|a |as ¤cvec l|c¤ ue|rç t|e 10t| |a|çest eccrc¤] |r t|e wc||c |r 1990 tc t|e 1t| |a|çest tcca] |r te|¤s cl |u|c|as|rç |cwe|
|a||t] (|||}. /ve|açe arrua| C|css Dc¤est|c ||ccuct (CD|} ç|cwt| |as |rc|easec ccrs|stert|], ||s|rç l|c¤ 5.0 pe|cert |r 1985÷1991 tc
c.2 pe|cert |r 1995÷2001 tc a|¤cst 9 pe|cert |r 2005÷2009.
|u|c|as|rç pcwe| cl |rc|ar u|uar ccrsu¤e| |s ç|cw|rç arc u|arcec ¤e|c|arc|se |r cateçc||es |||e /ppa|e|s, Ccs¤et|cs, S|ces, Watc|es,
Beve|açes, |ccc arc ever Jewe||e|], a|e s|cw|] uecc¤|rç ||lest]|e p|ccucts t|at a|e w|ce|] acceptec u] t|e u|uar |rc|ar ccrsu¤e|.
|rc|ar |eta||e|s w||| ue ta||rç acvartaçe cl t||s ç|cwt| arc a|¤|rç tc ç|cw, c|ve|s|l] arc |rt|ccuce rew lc|¤ats |ave tc pa] ¤c|e
attert|cr tc t|e u|arc uu||c|rç p|ccess. I|e e¤p|as|s w||| ccrt|rue tc ue uct| cr |eta|| as a u|arc arc cr |eta||e|s se|||rç u|arcs. Reta||e|s
w||| ccrt|rue tc uu||c t|e|| cwr stc|es as u|arcs tc |e|rlc|ce t|e|| ¤a||et|rç pcs|t|cr|rç, tc cc¤¤ur|cate cua||t] as we|| as va|ue lc|
¤cre]. Susta|rau|e cc¤pet|t|ve acvartaçe w||| ue cepercert cr t|ars|at|rç cc|e va|ues cc¤u|r|rç p|ccucts, |¤açe arc |eputat|cr |rtc
a cc|e|ert |eta|| u|arc st|ateç].
I|e|e |s ve|] c|ea| ev|cerce t|at t|e |rc|ar |eta|| scere |s cr a |c||. / ru¤ue| cl |a|çe cc|pc|ate |cuses |ave a||eac] ¤ace t|e|| lc|a]
|rtc t||s a|era w|t| ¤u|t|p|e lc|¤ats ccve||rç ueaut] arc |ea|t| stc|es, supe|¤a||ets, se|l-se|v|ce ¤us|c stc|es, rewaçe ucc| stc|es,
eve|]-ca]-|cw-p||ce stc|es, cc¤pute|s arc pe||p|e|a|s stc|es, cll|ce ecu|p¤ert stc|es arc |c¤e/uu||c|rç ccrst|uct|cr stc|es. Icca] t|e
c|çar|sec p|a]e|s a|e p|esert |r eve|] |eta|| cateçc|], sc ¤uc| sc t|at t|e|e |s a ce|ta|r serse cl 'c|cwc|rç' |r ce|ta|r sectc|s cl ¤cce|r
|eta||.
Reta|||rç |as seer suc| a t|arslc|¤at|cr cve| t|e past cecace t|at |ts ve|] cel|r|t|cr |as urce|çcre a sea c|arçe. |c |crçe| car a
¤arulactu|e| |e|] cr sa|es tc ta|e p|ace u] ersu||rç ¤e|e ava||au|||t] cl ||s p|ccuct. Icca], |eta|||rç |s aucut sc ¤uc| ¤c|e t|ar ¤e|e
¤e|c|arc|s|rç. |ts aucut cast|rç custc¤e|s |r a stc|], |el|ect|rç t|e|| ces||es arc asp||at|crs, arc lc|ç|rç |crç-|ast|rç |e|at|crs||ps. /s
t|e |rc|ar ccrsu¤e| evc|ves t|e] e·pect ¤c|e arc ¤c|e at eac| arc eve|] t|¤e w|er t|e] step |rtc a stc|e. Reta|| tcca] |as c|arçec
l|c¤ se|||rç a p|ccuct c| a se|v|ce tc se|||rç a |cpe, ar asp||at|cr arc aucve a|| ar e·pe||erce t|at a ccrsu¤e| wcu|c |||e tc |epeat.
Iod|ao ßota|| - Iomorrow
I|e crçc|rç arc e·parc|rç peret|at|cr cl ¤cce|r |eta|| w||| ccrt|rue tc ue c|a|acte||sec u] ce|ta|r |e] leatu|es. I|e|e wcu|c ue a ccuu|e
p|crçec e·pars|cr |rtc ¤ajc| u|uar c|t|es arc e·pars|cr tc s¤a||e| c|t|es arc tcwrs. Sectc|s suc| as lccc c ç|cce|], w|t| la| |esse|
¤cce|r t|ace peret|at|cr cu||ert|], wcu|c see s|çr|l|cart|] ç|eate| peret|at|cr. ||cl|tau|||t] cl p|a]e|s wcu|c ue stau|e arc ç|cua| ¤ajc|s
wcu|c ue p|a]|rç a ç|eate| |c|e t||cuç| st|ateç|c |rvest¤erts arc t|arsle| cl |rcw-|cw. I|us peret|at|cr cl c|çar|sec |eta|| |r suc| a
scera||c wcu|c ç|cw at ar açç|ess|ve pace arc |r ||re w|t| tcp cua|t||e ç|cwt| cl peret|at|cr w|tressec |r ct|e| ccurt||es.
|l ¤cce|r |eta|| we|e tc ¤eet |ts t|ue pctert|a|, t|e s|te cl t|e sectc| |s est|¤atec tc |eac| uS$ 2c0 u||||cr u] 2020 w||c| t|ars|ates
app|c·|¤ate|] tc a 21º pe|cert ¤cce|r |eta|| peret|at|cr. I|e cu||ert s|te cl c|çar|sec |eta|| |s cu||ert|] est|¤atec at c|cse tc
uS$ 28 u||||cr c| c÷7 pe|cert cl tcta| |eta||. I||s |rc|uces lccc arc ueve|açes, c|ct||rç arc accessc||es, e|ect|cr|cs arc app||arces,
lu|r|tu|e arc lu|r|s||rçs, |ea|t| arc pe|scra| ca|e, lccc se|v|ces arc c||r||rç p|aces, spc|t|rç çcccs, |cuu], ucc|s, ¤us|c, |e|su|e arc
erte|ta|r¤ert arc ct|e| ¤|sce||arecus |te¤s. |erce ¤ac|c÷eccrc¤|c lactc|s suc| as CD| ç|cwt|, p||vate ccrsu¤pt|cr ç|cwt| arc
¤|· cl çcccs arc se|v|ces w|t||r p||vate ccrsu¤pt|cr w||| c||ve ç|cwt| |r ¤cce|r |eta||.
I|e c|a||erçes cl |recu|t] w|t||r t|e |rc|ar eccrc¤] |e¤a|r pe|vas|ve. I|e |ssue cl |rc|us|ve ç|cwt| arc ceve|cp¤ert |s p|cuau|] cre
cl t|e ¤cst cc¤p|e· |ssues t|at t|e eccrc¤] laces tcca], arc |t |s |e|e t|at ¤cce|r |eta|| car ccrt||uute s|çr|l|cart|]. I|e c|çar|sec
|eta|| sectc| |as t|e au|||t] tc c||ect|] c||ve |rc|us|cr lc| a ve|] |a|çe ru¤ue| cl pecp|e la|||rç |rtc t||ee sta|e|c|ce| cateçc||es. supp||e|s,
custc¤e|s arc e¤p|c]ees.
||cuau|] cre cl t|e u|ççest 'uccr' t|at ¤cce|r |eta|| u||rçs tc t|e p|ctu|e |s a|sc cre t|at |s clter |çrc|ec. Vcce|r |eta|| car ue a
s|çr|l|cart c||ve| cl |rc|us|ve ç|cwt| |r t|e ccurt|] u] |t's s|ee| vc|u¤e cl tcuc| pc|rts.
I|e |eta|| sectc| |as p|a]ec a p|erc¤era| |c|e t||cuç|cut t|e wc||c |r |rc|eas|rç p|ccuct|v|t] cl ccrsu¤e| çcccs arc se|v|ces. |t |s
t|e seccrc |a|çest |rcust|] |r uS |r te|¤s cl ru¤ue|s cl e¤p|c]ees arc estau||s|¤erts. I|e|e |s rc cer]|rç t|e lact t|at ¤cst cl t|e
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/rrua| Repc|t 2010-11 | 50
ceve|cpec eccrc¤|es a|e ve|] ¤uc| |e|]|rç cr t|e|| |eta|| sectc| as a |ccc¤ct|ve cl ç|cwt|, arc t|e |rc|ar stc|] cl ¤cce|r |eta|| |s
rct e·pectec tc ue ar] c|lle|ert. I|e |rc|a Reta|| |rcust|] |s t|e |a|çest a¤crç a|| t|e |rcust||es, acccurt|rç lc| cve| 10 pe| cert cl t|e
ccurt|]'s CD| arc a|curc 8 pe| cert cl t|e e¤p|c]¤ert. I|e Reta|| |rcust|] |r |rc|a |as cc¤e lc|t| as cre cl t|e ¤cst c]ra¤|c arc last
pacec |rcust||es w|t| seve|a| p|a]e|s erte||rç t|e ¤a||et. /|| |rc|cat|crs s|cw t|at t|e pace arc t|e ç|cwt| cl t|e |rcust|] w||| ccrt|rue
|r t|e lutu|e.
Iod|ao ßota|| - 6ha||oogos Ahoad
||cuau|] cre cl t|e u|ççest c|a||erçes |r t|e ç|cwt| stc|] cl |rc|ar ¤cce|r |eta|| w||| ue t|e ccst, ava||au|||t] arc ce||ve|] cl cua||t] |eta||
|ea| estate. Rerta|s ccrt|rue tc ue t|e ||ç|est e·perse cl ¤cce|r |eta||e|s arc a|e a|¤cst 1 tc 5 t|¤es t|at cl t|e|| weste|r ccurte|pa|ts.
I||s ccst ccrt|rues tc pcse a c|a||erçe tc |ts ç|cwt|. I|e t|¤e|] ce||ve|] cl ¤a||s arc stc|es |s a |e] lactc| |r t|e ç|cwt| arc peret|at|cr
cl ¤cce|r |eta||. De|a]s |e|e w||| ¤ear suustart|a| setuac|s lc| t|e p|a]e|s |r t|e |rcust|].
I|a|rec ¤arpcwe| s|c|taçe |s a c|a||erçe lac|rç t|e ¤cce|r |eta|| sectc| |r |rc|a. |rc|ar |eta||e|s |ave c|ll|cu|t] |r l|rc|rç t|a|rec pe|scrre|
arc t|e|elc|e |rcu| s|çr|l|cart ccsts |r t|a|r|rç t|e¤. /tt||t|cr |s arct|e| p|cu|e¤ w||c| a|| ¤cce|r |eta||e|s a|e ç|app||rç w|t|.
|rc|ar ¤cce|r |eta|| |as rct ]et çct |rcust|] status. I||s ||rce|s eas] access tc lurcs arc ct|e| uerel|ts t|at ¤cce|r |eta|| ccu|c |ave
çct as ar |rcust|]. I|at apa|t, ¤cce|r |eta||e|s a|e suuject tc ¤u|t|p|e |u|es arc |eçu|at|crs |r acc|t|cr tc |eç|cra| |u|es arc |eçu|at|crs
cr t|e uas|s cl t|e stc|e |ccat|crs. |r sc¤e |eç|crs |eçu|at|crs a|e |¤pcsec cr t|e c|çar|sec |eta||e|s tc |est||ct t|e|| e·pars|cr arc tc
p|c¤cte |eç|cra| |eta||e|s. Reta||e|s a|e a|sc |ecu||ec tc ta|e recessa|] app|cva|s l|c¤ |cca| ucc|es tc ca||] cr w|t| t|e|| uus|ress. I|e|e
|s rc s|rç|e w|rccw lc| c|ea|arces, arc cc¤par|es |ave tc çc tc c|lle|ert açerc|es tc çet app|cva|s, w||c| |s cre cl t|e u|ççest |u|c|es
t|at t|e seç¤ert laces. /ccec tc t||s a|e t|e cevc|ve¤ert cl ce|ta|r ta·es e.ç. se|v|ce ta· ,e·c|se etc. w||c| acc lu|t|e| uu|cer tc a
|eta||e| s|rce t|ese ccsts carrct a|wa]s ue passec cr tc t|e custc¤e|.
lcç|st|cs arc c|st||uut|cr ell|c|erc] arc cpt|¤|sat|cr w||| ue |e] tc t|e success cl t|e |rcust|]. Varulactu|e|s w||| p|cç|ess|ve|] reec tc
|ave sepa|ate tea¤s se|v|c|rç ¤cce|r |eta|| t|ace tc ersu|e uct| pa|t|es p|cl|t ecua||] l|c¤ t|e t|arsact|crs. 0r-t|¤e c|ce| |ep|er|s|¤erts
w||| uecc¤e ¤c|e arc ¤c|e c||t|ca| ever as cc¤pet|t|cr |r t|e sectc| |rc|eases.
8.W.0.I. ANAI¥8I8
8troogths:
º |||st C|t|ters. 0u| |||st C|t|ters C|uu |as ccrt|ruec tc ue cre cl t|e ¤a|r st|erçt|s cl cu| uus|ress. |r t|e ]ea| çcre u] t|e
p|cç|a¤¤e |as e·ceecec t|e 2 ¤||||cr ¤a|| |r ¤e¤ue|s||ps, ¤a||rç |t cre cl t|e |a|çest |c]a|t] ¤e¤ue|s||p p|cç|a¤¤es |r t|e
ccurt|] ac|css sectc|s. I|e cc¤par] ccrt|rues tc ue||eve t|at |ts |c]a|t] p|cç|a¤¤e |s rct cr|] a scu|ce cl suustart|a| cc¤pet|t|ve
acvartaçe, uut |s a|sc a ve|] st|crç st|ateç|c tcc|. Ycu| cc¤par] ue||eves t|at |ts |||st C|t|ters w||| ccrt|rue tc c||ve |ts ç|cwt| u]
|rc|easec ave|açe e·perc|tu|e |r cu| stc|es w||c| w||| ue a|cec u] ta|çetec p|c¤ct|cra| act|v|t|es.
º St|crç lccus cr S]ste¤s c ||ccesses. We ccrt|rue tc |rvest |r cu| l|crt arc uac| erc p|ccesses arc s]ste¤s. I|e cc¤par]
ue||eves t|at ccrt|rucus |rvest¤ert |r pecp|e, p|ccess arc tec|rc|cç] w||| c||ve susta|rau|e arc p|cl|tau|e ç|cwt| lc| t|e cc¤par].
We |ave |r t|e past ]ea|, urce|ta|er a ru¤ue| cl rew |rvest¤erts |r t|e uac| erc arc ccrt|rue tc upç|ace cu| cu||ert |rlc|¤at|cr
tec|rc|cç] capau|||t|es arc p|ccesses.
º St|crç c|st||uut|cr arc |cç|st|cs retwc|| arc supp|] c|a|r. We |ave c|eatec a st|crç c|st||uut|cr arc |cç|st|cs retwc||, w|t| cu| lcu|
D|st||uut|cr Certe|s ccve||rç ¤c|e t|ar 350,000 scua|e leet |arc||rç cve| 100,000 SKus pe| ]ea|, arc wc|||rç 21·7. I|e cc¤par]
ue||eves t|at t|e '|uu ÷ arc-spc|e' ¤cce| lc||cwec u] |t lc| |ts c|st||uut|cr retwc||, w||| starc |t |r çccc steac lc| t|e e·pars|cr
erv|saçec |r t|e lc|t|cc¤|rç ]ea|s.
º Er|arc|rç cu| |u¤ar cap|ta|. We ccrt|rue tc assess cu| Custc¤e| Ca|e /sscc|ates (CC/s} ac|css a|| |eve|s t||cuç| assess¤ert
certe|s tc |cert|l] cc¤peterc] çaps arc use ceve|cp¤ert |rputs (|.e. t|a|r|rç, jcu |ctat|cr etc.} tc u||cçe t|e¤. We ccrt|rue tc
uerc|¤a|| cu| cc¤persat|cr arc uerel|ts t||cuç| ccrsu|tarts, w|t| t|e uest |r t|e |rcust|] tc pa] cu| asscc|ates accc|c|rç|].
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/rrua| Repc|t 2010-11 | 51
º St|crç urce|starc|rç cl t|e |ea| estate uus|ress. We uerel|t l|c¤ cu| ||c¤cte|s' asscc|at|cr w|t| t|e |ea| estate uus|ress arc t|e||
|e|at|crs||ps w|t| ceve|cpe|s, w||c| |ave |e|pec us accu||e p|ele||ec p|cpe|t|es at cc¤pet|t|ve |ates.
º S|cpp|rç E·pe||erce. I|e Cc¤par] p|cree|ec t|e cepa|t¤erta| stc|e lc|¤at |r t|e |rc|ar ¤a||et w|er t|e |rc|ar ccrsu¤e| was
cep||vec cl c|c|ce. Custc¤e|s we|e c|awr u] t|e s|cpp|rç e·pe||erce. I||s |s t|e c|lle|ert|at|cr t|at t|e Cc¤par] ccrt|rues tc
uar| cr. |||ce |s rct essert|a||] a c|lle|ert|atc| lc| t|e Cc¤par], s|cpp|rç e·pe||erce |s. I|e Cc¤par] |¤pa|ts spec|a| t|a|r|rç tc |ts
e¤p|c]ees tc ersu|e t|at se|v|ce |s rct cc¤p|c¤|sec cr. I|e cc¤par]'s stc|e pcs|t|cr|rç |r t|e 'u||cçe tc |u·u|]' seç¤ert c|ea||]
sets apa|t |t's stc|es l|c¤ t|cse cl t|e |est cl t|e |rcust|] p|a]e|s.
º Varaçe¤ert St|erçt| c Cc|pc|ate Ccve|rarce. I|e Cc¤par] |as a p|cless|cra| arc we||-estau||s|ec ¤araçe¤ert tea¤, |eacec
u] V|. Ccv|rc S|||||arce. |u|t|e|¤c|e, t|e Cc¤par]'s urwave||rç lccus cr çccc cc|pc|ate çcve|rarce |as ueer a ueaccr lc| t|e
|rcust|]. 0u| |rte|ra| arc e·te|ra| auc|tc|s a|e a¤crçst t|e B|ç 1 auc|t l||¤s cl t|e ç|cue. I|e Bca|c |as 5 |rcepercert D||ectc|s.
º St|crç ua|ça|r|rç st|erçt|. |av|rç ueer |r e·|sterce lc| sc ¤ar] ]ea|s arc cue tc |ts st|crç u|arc |¤açe, t|e Cc¤par] ue||eves
t|at |t |s we|| p|acec |r reçct|at|crs/|e-reçct|at|crs cl p|cpe|t] |erta|s, uette| cc¤¤e|c|a|s te|¤s w|t| ¤e|c|arc|se supp||e|s etc.
I|e Cc¤par] |as successlu||] ç|cwr ç|css ¤a|ç|rs ]ea| cr ]ea|.
ß|sks aod 6oocoros:
º E·ecut|cr. We ue||eve t|e |e] ||s| tc cu| ç|cwt| |s e·ecut|cr ||s|. I|e re·t wave cl e·pars|cr |s e·pectec tc |apper cve| t|e re·t
3c ¤crt|s arc t|e t|¤e|] e·ecut|cr cl t||s e·pars|cr w||| ue c||t|ca|. I|e Cc¤par] |as a st|crç e·ecut|cr tea¤ arc we ue||eve, |t
|as t|e capau|||t] tc e·ecute va||ec |eta|| lc|¤ats.
º E¤p|c]ee |etert|cr. W|t| t|e |rc|ar eccrc¤] uac| cr a ç|cwt| pat|, arc ccrsu¤pt|cr uac| cr t|ac|, t|e Cc¤par] ue||eves t|at
e¤p|c]ee sat|slact|cr arc |etert|cr w||| uecc¤e ve|] |¤pc|tart. I|e ce¤arc lc| e·pe||ercec pe|scrre| |r ¤cce|r |eta|| w||| cr|]
|rc|ease |r t|e rea| te|¤ arc |crç-te|¤. Ycu| Cc¤par] ue||eves t|at t||s p|cu|e¤ w||| pe|s|st urt|| t|e |rcust|] |eac|es a steac]
ç|cwt| p|ase.
º De|a] |r stc|e ce||ve|]. Vajc||t] cl t|e rew stc|es p|arrec a|e |r ¤a||s arc ar] ce|a]s |r t|e ccrst|uct|cr cl t|e ¤a||s w||| ce|a] t|e
cc¤par]'s |eta|| e·pars|cr p|ar. |cweve|, t|e Cc¤par] |as uu||t up a |cuust p|pe||re cl lutu|e stc|es arc ue||eves t|at ce|a]s w|||
rct ¤ate||a||] allect e·pars|cr.
º ||essu|e cr |eta|| |ease |erta|s. Rert |s cre cl t|e |a|çest cc¤pcrerts |r a |eta|| uus|ress' l|·ec ccsts, arc t|e case |s rc c|lle|ert
lc| t|e Cc¤par]. Rerta|s a|e e·pectec tc |a|cer crce aça|r |r t|e rea| te|¤.
º Ccve|r¤ert |ev|es. Reta|| |s cu||ert|] rct v|ewec as ar |rcust|] |r |rc|a. |erce t|e|e a|e ce|ta|r |ev|es/cascac|rç ellect cl ta·es cr
t|e uus|ress w||c| a|e p|cv|rç tc ue a ve|] |a|çe uu|cer as t|e|e a|e rc ¤cces lc| t|e |rcust|] tc |eccve| c| pass cr t|ese |ev|es.
I|e |ecert |ev] cl e·c|se cut] cr |eac]¤ace ça|¤erts |s a|sc a cause cl ccrce|r. De|a] |r t|e |c|| cut cl t|e CSI |eç|¤e |s a|sc a
¤atte| cl ccrce|r.
º |rvestee Cc¤par|es. I|e cc¤par] |as |rvestec |r ct|e| ert|t|es arc |cwe| t|ar e·pectec |etu|rs l|c¤ t|ese ert|t|es w||| |ave ar
|¤pact cr t|e cas|l|cws arc ccrsc||catec |esu|ts cl t|e cc¤par].
0pportuo|t|os:
º Cecç|ap||ca| |eac|. Ycu| Cc¤par] ccrt|rues tc |rc|ease |ts |ar-|rc|a lcctp||rt arc |s e·pect|rç tc |aurc| |rtc |ts re·t e·pars|cr
p|ase |r t|e re·t 3c ¤crt|s. I|e Cc¤par]'s st|ateç] tc |rc|ease t|e ru¤ue| cl cepa|t¤erta| stc|es, arc t|e|elc|e |¤p|cve c|t]
w|se peret|at|cr |r rew c|t|es, |rc|ease ¤a||et s|a|e |r e·|st|rç c|t|es t||cuç| acc|t|cra| rew stc|es |r t|cse c|t|es, arc rew stc|es
|r t|e| || c|t|es, |e¤a|rs urc|arçec.
º |]pe|c|t] . I|e Cc¤par] |as accu||ec 32º cl t|e ecu|t] s|a|e cap|ta| cl |]pe|c|t] Reta|| (|rc|a} ltc. cr Jure 30, 2010. |u|suart tc t|e
sa|c accu|s|t|cr, |]pe|c|t] Reta|| (|rc|a} ltc. |as uecc¤e 51º suus|c|a|] cl t|e Cc¤par]. I|e |]pe|¤a||et seç¤ert ccrt|rues tc ue a
||ç| ç|cwt| seç¤ert |r t|e ccurt|]. We ue||eve t|at t|e sccpe lc| |]pe|¤a||ets |r |rc|a |s |¤¤erse arc |]pe|C|t] w||| ue a s|çr|l|cart
ç|cwt| erç|re lc| t|e Cc¤par]. I|e stc|es |ur u] |]pe|C|t] |ave s|cwr ve|] |¤p|ess|ve pe|lc|¤arce |r t|e ]ea| çcre u].
Mauagemeut 0iscussiou aud Aua|ysis Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 52
º |c|¤at c|ve|s|l|cat|cr arc e·pars|cr. Ycu| Cc¤par], |r |t's ccrstart erceavc| tc captu|e wa||et s|a|e, |as c|ve|s|l|ec |rtc ¤u|t|p|e
lc|¤ats v|t, |c¤eStcp w||c| |eta||s |a|c arc sclt lu|r|s||rçs, C|csswc|c lc| ucc|s, ¤us|c arc stat|cre|], V./.C. w||c| |eta||s ||ç|
erc ccs¤et|c p|ccucts, C||r|cue w||c| |eta||s s||r ca|e p|ccucts, Vct|e|ca|e w||c| |eta||s |rlart arc ||cs ¤e|c|arc|se arc a||pc|t
|eta|||rç, u] t]|rç up w|t| I|e |uarce C|cup /C cl Sw|tte||arc. I|e Cc¤par] |as a|sc ¤ace a successlu| lc|a] |rtc |rte|ret |eta|||rç
t||cuç| |ts e-|eta|||rç pc|ta|. I|e cc¤par] w||| ccrt|rue tc lccus arc e·parc t|ese lc|¤ats.
º ||ele||ec pa|tre| lc| lc|e|çr p|a]e|s. Ycu| Cc¤par] ue||eves t|at u] v||tue cl |t's p|eserce ac|css a|| ||lest]|e cateçc||es |r t|e
cepa|t¤erta| lc|¤at, |t's st|crç u|arc va|ue arc |t's p|eserce |r t|e ucc|s arc ¤us|c seç¤ert, |t |s uest p|acec tc u||rç |r
|rte|rat|cra| u|arcs |rtc t|e ccurt|], t|e|e u] er||c||rç t|e p|ccuct ucucuet lc| |t's custc¤e|s arc |r tu|r |rc|eas|rç cppc|tur|t|es
lc| p|ccuct c|ve|s|l|cat|cr arc p|cl|t er|arce¤ert.
Ihroats:
º Eccrc¤|c s|cwccwr. Eccrc¤|c s|cwccwrs |ave a c||ect |¤pact cr ccrsu¤pt|cr. Reta||, ue|rç t|e '|ast ¤||e' |r t|e supp|]/va|ue
c|a|r, |s ucurc tc lace c|ll|cu|t|es |r ar erv||cr¤ert cl eccrc¤|c s|cwccwr.
º I||eat cl rew ert|arts . W|t| |rc|a ccrt|ru|rç tc ue ar att|act|ve |eta|| ¤a||et, t|e Cc¤par] e·pects ¤ar] rew ert|arts |rtc t|e
sectc|, t|us |rc|eas|rç cc¤pet|t|cr.
º Cc¤pet|t|ve ||va||] |r t|e |rcust|]. I|e|e |s |rterse ||va||] a¤crç |eac|rç rat|cra| |eta||e|s lc| rew |ccat|crs arc cua||t] |ea| estate.
I||s w||| lu|t|e| s|a|per |r t|e cc¤|rç 2 ]ea|s as t|e estau||s|ec p|a]e|s w||| lccus cr ç|cwt|. I|e cc¤par] ue||eves t|at |t |as a
|cuust p|pe||re cl stc|es lc| lutu|e e·pars|cr.
º Due tc t|e s|ee| vc|u¤e cl pecp|e v|s|t|rç |eta||s cut|ets ccup|ec w|t| eas] access, |eta|| |s ccrs|ce|ec as a sclt ta|çet arc |erce
¤c|e p|cre tc te||c| attac|s as cc¤pa|ec tc ct|e|s.
6ustomor Eotry:
Reta||e|s ¤easu|e ert|] as lcctla||s, w||c| |s t|e ru¤ue| cl pecp|e erte||rç t|e stc|es. I||s |s cc¤putec t||cuç| ¤arua| ccurt |r a||
stc|es cu||rç t|ac|rç |cu|s.
0
5
10
15
20
25
30
35
2010-11 2009-10 2008-09 2007-08 2006-07
C
u
s
t
o
m
e
r
E
n
t
r
y
(
i
n
m
n
.
)
Year
Customer Entry
(Departmental Store)
19.9
24.9
22.8
30.9
23.3
(So.·.- |o¬c-·, V|S|
Mauagemeut 0iscussiou aud Aua|ysis Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 53
6oovors|oo ßat|o:
Ccrve|s|cr |s t|e |at|c cl t|e ru¤ue| cl t|arsact|crs (Cas| Ve¤c} ve|sus t|e tcta| custc¤e| ert|] |rtc t|e stc|es. I|ac||rç ccrve|s|cr
|e|ps t|e |eta||e| urce|starc t|e p|ccuct|v|t] cl ||s l|crt-erc stc|e e¤p|c]ees arc t|e att|act|veress cl t|e ¤e|c|arc|se arc se|v|ces.
0%
5%
10%
15%
20%
25%
30%
2010-11 2009-10 2008-09 2007-08 2006-07
C
o
n
v
e
r
s
i
o
n
R
a
t
i
o
(
%
)
Year
27%
25%
28%
27%
24%
Conversion Ratio (%)
(Departmental Store)
(So.·.- |o¬c-·, V|S|
8a|os:
C|css Sa|es uct| at c|a|r |eve| arc lc| l||e-Ic-l||e stc|es s|cwec ar |¤p|cve¤ert as cc¤pa|ec tc |ast ]ea|. I|e ç|cwt| was 23º |r
ç|css |eta|| tu|rcve| cl S|cppe|s Stcp cepa|t¤erta| stc|e uus|ress. I|e sa|es pe| sc. lt. |as ueer cc¤putec cr uu||t-up a|ea.
0
5
10
15
20
25
2010-11 2009-10 2008-09 2007-08 2006-07
S
a
l
e
s
(
l
i
k
e
-
t
o
-
l
i
k
e
g
r
o
w
t
h
%
)
Year
Sales (like-to-like growth %)
(Departmental Stores)
14
21
4
1
17
S
a
l
e
s
P
e
r
S
q
u
a
r
e
F
e
e
t
(
i
n
`
)
Year
0
1000
2000
3000
4000
5000
6000
7000
8000
9000
2010-11 2009-10 2008-09 2007-08 2006-07
Sales Per Square Feet (in `)
(Departmental Store)
7973
8671
8218
7955
8518
(So.·.- |o¬c-·, V|S| (So.·.- |o¬c-·, V|S|
Apparo|:
I|e /ppa|e| ccrt||uut|cr tc tcta| sa|es cl t|e S|cppe|s Stcp cepa|t¤erta| stc|e uus|ress was 58.8º |r 2010-11 as cc¤pa|ec tc 59.5º |r
2009-10. I|e|e |as ueer ç|cwt| |r |cr-/ppa|e| seç¤ert w||c| |as |esu|tec |r |cr-/ppa|e| sa|es pe|certaçe ç|cw|rç. I||s |s p||¤a|||]
cue tc custc¤e| uu]|rç ||le st]|e p|ccucts.
Mauagemeut 0iscussiou aud Aua|ysis Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 51
Noo-Apparo|:
I||s cateçc|] |rc|uces Ccs¤et|cs, |e|scra| /ccessc||es, Jewe||e|], leat|e| çcccs, |c¤e Wa|es, E|ect|cr|cs, Bcc|s arc Vus|c. I|ese
||lest]|e p|ccucts |ave ||ç| asp||at|cr va|ue, arc as t|e ccrsu¤|rç c|ass |rc|eases, t|e|e w||| ue a u|ç su|çe |r t|e ce¤arc lc| t||s
cateçc|]. I|e |cr-/ppa|e| ccrt||uut|cr tc tcta| sa|es cl t|e Cc¤par] was 11.2º |r 2010-11.
S
a
l
e
s
M
i
x
(
%
)
0%
20%
40%
60%
80%
100%
2010-11 2009-10 2008-09 2007-08 2006-07
58.9% 61.2% 60.4% 59.5%
41.1% 38.8% 39.6% 40.5%
58.8%
41.2%
Non-Apparels Apparels
Sales Mix (%)
(Departmental Stores)
(So.·.- |o¬c-·, V|S|
Fr|vato Iabo| 8 Fr|vato ßraods:
Ycu| Cc¤par] a|¤s tc p|cv|ce a c|lle|ert|atec arc ur|cue clle||rç tc t|e custc¤e| t||cuç| |ts cwr p||vate |aue|s as we|| as t||cuç|
e·c|us|ve p||vate u|arcs. I|e ccrt||uut|cr cl p||vate |aue| |s at 17.5º cl sa|es as cc¤pa|ec tc 18.8º |ast ]ea| arc p||vate |aue| sa|es
|e¤a|rec ccrstart. Ycu| Cc¤par] |as çct ar e·c|us|ve a||arçe¤ert lc| cepa|t¤erta| stc|e uus|ress w|t| VuSI/|C JE/|S, a Ce|¤ar
B|arc, lc| t|e|| Ver's arc Wc¤er's Wea|. 0u| /ust|r Reec u.K. e·c|us|ve aç|ee¤ert tc |eta|| ¤er's c wc¤er's wea| |as pcstec a
|ea|t|] ç|cwt|. /s a pa|t cl |t's st|ateç] tc p|cv|ce a w|ce |arçe cl ¤e|c|arc|se tc custc¤e|s, ]cu| Cc¤par] a|¤s tc l||| |r t|e çaps |r
t|e rat|cra| u|arc clle||rç t||cuç| |ts p||vate |aue|s c e·c|us|ve a||arçe¤erts w|t| p||vate c |rte|rat|cra| u|arcs.
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/rrua| Repc|t 2010-11 | 55
Year
Avorago 8o|||og Fr|co (A8F}:
/ve|açe Se|||rç |||ce |s t|e C|css Reta|| Sa|es c|v|cec u] t|e ru¤ue| cl ur|ts sc|c. I|ac||rç /S| |e|ps t|e |eta||e| tc a||çr t|e clle||rç as
pe| t|e custc¤e| seç¤ert as we|| as |¤p|cve t|e p|ccuct|v|t] cl t|e l|cc| space.
704
759
821
856
913
500
600
700
800
900
1000
2010-11 2009-10 2008-09 2007-08 2006-07
A
v
e
r
a
g
e
S
e
l
l
i
n
g
P
r
i
c
e
(
`
)
Year
Average Selling Price (Like to Like)
(Departmental Stores)
(So.·.- |o¬c-·, V|S|
Iraosact|oo 8|zo ( }:
I|arsact|cr s|te |ep|eserts t|e a¤curt spert u] eac| custc¤e| cr ||s uu]|rç. I||s |s cc¤putec u] t|e tcta| sa|es c|v|cec u] t|e ru¤ue|
cl cas| ¤e¤cs.
0
300
600
900
1200
1500
1800
2100
2400
2010-11 2009-10 2008-09 2007-08 2006-07
T
r
a
n
s
a
c
t
i
o
n
S
i
z
e
(
`
)
Year
1562
1713
1843
2029
2207
Transaction Size (`)
(Departmental Store)
(So.·.- |o¬c-·, V|S|
Morchaod|so Furchaso:
Ycu| cc¤par]'s au|||t] tc p|esert cr t|e s|e|ves cc||ect ¤e|c|arc|se assc|t¤erts |r t|e ||ç|t ¤|·, st]|e, cc|cu| c las||cr |s cre cl |ts
¤cst c||t|ca| success lactc|s. / tea¤ cl Bu]e|s c Ve|c|arc|se|s ccrt|rucus|] ersu|e t|at t|e p||c|rç st|ateç] arc va|ue p|cpcs|t|cr a|e
cc¤p|ete|] |r ture w|t| t|e custc¤e|s' e·pectat|crs. We |eçu|a||] ¤cr|tc| sa|es t|ercs tc cpt|¤|se |rvertc|] |eve|s.
0u| we||-estau||s|ec s]ste¤s arc p|ccesses |r Bu]|rç c Ve|c|arc|s|rç c lcç|st|cs erau|es us tc ell|c|ert|] ¤araçe t|e l|cw cl |rvertc|]
tc stc|es , p|cv|ce p|c¤pt |ep|er|s|¤erts arc ¤araçe p||c|rç.
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Ycu| Cc¤par] ue||eves |r a u|cac c|st||uut|cr cl ||s| w|t| rc ||ç| cepercerc] cr ar] s|rç|e supp||e| arc |as a c|ve|s|l|ec supp||e| uase.
Supp||e|s a|e se|ectec alte| eva|uat|cr uasec cr la|||] st||rçert pa|a¤ete|s w||c| ersu|e t|e cua||t] c |e||au|||t] cl supp|]. /|te|rate
c|st||uut|cr c|arre|s lc| |rvertc|] |ave a|sc ueer put |r p|ace as a ccrt|rçerc], s|cu|c t|e reec a||se.
8upp||or ß|sks:
0u| u|cac|] va||ec clle||rç recess|tates a|||arces w|t| a |a|çe ru¤ue| cl supp||e|s l|c¤ va||cus uus|ress sectc|s. |r c|ce| tc ¤|t|çate t|e
||s| |rvc|vec, we erte| |rtc a||arçe¤erts w|t| vercc|s |r va||cus uus|ress lc|¤ats suc| as 0ut||ç|ts Bu]/Sa|e c| |etu|r, Ccrs|çr¤ert c
Ccrcess|cra||e/Ccrcuct|rç a||arçe¤ert.
8hr|okago:
S|||r|açe |r t|e |eta|| uus|ress |s cel|rec as t|e |css |r |rvertc|] t||cuç| a cc¤u|rat|cr cl s|cp ||lt|rç, p||le|açe, arc e||c|s |r cccu¤ertat|cr
arc t|arsact|cr p|ccess|rç t|at çc urrct|cec. We |ave lccus cr |rvertc|] ccrt|c| arc |ave set up a sepa|ate cepa|t¤ert ca||ec p|cl|t
er|arce¤ert, w||c| rct cr|] ¤cr|tc|s S|||r|açe cr a |eçu|a| uas|s uut a|sc |cc|s at va||cus lactc|s t|at ccu|c |eac tc S|||r|açe at stc|es
arc c|st||uut|cr certe|s. I|e p|cl|t er|arce¤ert cepa|t¤ert, Stc|e 0pe|at|crs a|crç w|t| t|e Supp|] C|a|r tea¤ |ave wc||ec tcçet|e|
arc ¤cr|tc|ec t|e S|||r|açe |eve| cr a ¤crt| cr ¤crt| uas|s w||c| |as |esu|tec |r t|e S|||r|açe pe|certaçe ue|rç ccrt|c||ec at 0.3cº
cl t|e Iu|rcve| arc cu| erceavc| w||| a|wa]s ue tc |cwe| t||s |at|c t||cuç| p|cpe| ¤cr|tc||rç arc ccrt|rucus|] |ev|ew|rç |rvertc|]
¤araçe¤ert p|ccesses arc s]ste¤s.
S
h
r
i
n
k
a
g
e
(
a
s
a
%
o
f
S
a
l
e
s
)
Year
0.46%
0.36%
0.35%
0.40%
0.45%
0.50%
0.55%
0.60%
0.65%
0.70%
2010-11 2009-10 2008-09 2007-08 2006-07
Shrinkage
(as a % of Sales)
0.40%
0.47%
0.52%
(So.·.- |o¬c-·, V|S|
8usta|o|og ßross Marg|os:
I|e ç|css ¤a|ç|r |as cec|easec cu||rç t|e ]ea| tc 31.1º l|c¤ 31.9º as cc¤pa|ec tc t|e |ast ]ea|, p||rc|pa||] cr acccurt cl |rc|eases
|r |ev|es arc t|e t|ars|t|cr |r t|ac|rç ¤cce|s. I|e Cc¤par] ue||eves t|at çc|rç lc|wa|c t|e |rc|eas|rç s|a|e cl |everue l|c¤ p||vate
|aue|s, |¤p|cvec sa|es ¤|· w|t| ||ç|e| ccrt||uut|cr l|c¤ ||lest]|e p|ccucts (|.e. watc|es, |eat|e|, jewe||e|], pe|lu¤es arc ccs¤et|cs}, arc
s|||r|açe ccrt|c| |as |e|pec |¤p|cve ç|css ¤a|ç|rs. Vercc| ¤araçe¤ert as a|sc scu|c|rç au|||t] |as |¤p|cvec w|t| sca|e arc wcu|c
acc|ue ¤c|e eccrc¤|es arc ||ç|e| ç|css ¤a|ç|rs çc|rç lc|wa|c.
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0porat|og FroI|t:
0pe|at|rç ||cl|t (w|t|cut e·cept|cra| |te¤s} |as |rc|easec u] 31º tc 15,211 |acs l|c¤ 11,351 |acs |r t|e p|ev|cus ]ea|. I|e 0pe|at|rç
||cl|t Va|ç|r |as ç|cwr tc 8.0º l|c¤ 7.3º. cue tc |¤p|cve¤ert |r |||e tc |||e sa|es ç|cwt|, |at|cra||sat|cr cl ccsts, ||ç|t s|t|rç cl sc¤e
cepa|t¤erta| stc|es/rew uus|ress lc|¤ats.
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
2010-11 2009-10 2008-09 2007-08 2006-07
Year
Operating Profit (without exceptional items) % to Gross Retail Sales
8.9%
5.5%
3.6%
7.3%
EBIDTA
E
B
I
D
T
A
(
`
i
n
m
i
l
l
i
o
n
s
)
7,874
6,503
4,924
11,351
15,211
8.0%
Not Iotorost:
|et |rte|est ccst |as |ecucec tc 733.c |acs as aça|rst 1,8c9 |acs ¤a|r|] cue tc t|e Cc¤par]'s 0|| |ssue arc |ecuct|cr |r ccst cl
lurcs arc |ecucec uc||cw|rçs.
FroI|t aItor Iax:
I|e Cc¤par] |as ac||evec pcst ta· p|cl|t cl 7517 |acs, as aça|rst a pcst ta· p|cl|t cl 5023 |acs |ast ]ea|, w||c| |s ar |rc|ease cl
50º cve| t|e |ast ]ea|.
ß|v|dood:
I|e Cc¤par] |as p|cpcsec a c|v|cerc cl 15º a¤curt|rç tc c9c |acs (|rc|uc|rç Cc|pc|ate D|v|cerc Ia·}.
Iovootory:
I|e |rvertc|] as at t|e erc cl cu||ert ]ea| |s 15,111 |acs as aça|rst 11,989 |acs as at t|e erc cl t|e |ast ]ea|. |rvertc|] |c|c|rç
pe||cc |s 100 ca]s cu||rç t|e cu||ert l|sca| aça|rst 105 ca]s |ast ]ea|. I|e |rvertc|] |as ueer va|uec at |cwe| cl ccst c| ret |ea||sau|e
va|ue.
I|qu|d|ty:
I|e cas| çere|atec l|c¤ cpe|at|crs was 13,721 |acs.
Froduct|v|ty/0porat|og oII|c|oocy paramotors:
We |cc| at cu| C|css Va|ç|r w|t| |ele|erce tc cu| Space, |rvertc|] arc laucu| tc ¤cr|tc| cu| ell|c|erc] w|t| t|e |e|p cl 3 |rc|catc|s
|.e. C|css Va|ç|r cr |rvertc|] (CVR0|}, C|css Va|ç|r Retu|r cr ||cc| Space (CVR0|} arc C|css Va|ç|r Retu|r cr laucu| (CVR0l}.
CVR0| |e|ps tc cpt|¤|se |rvertc|] |eve|s, CVR0| |e|ps tc ¤a·|¤|se t|e cas| ¤a|ç|rs arc CVR0l |e|ps tc |rc|ease |aucu|
p|ccuct|v|t].
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/rrua| Repc|t 2010-11 | 58
ßMß0I
2.0
2.5
3.0
3.5
4.0
4.5
5.0
5.5
6.0
6.5
2010-11 2009-10 2008-09 2007-08 2006-07
G
M
R
O
I
(
`
I
n
v
e
n
t
o
r
y
)
Year
2.75
3.62
3.29
5.50
6.03
(So.·.- |o¬c-·, V|S|
ßMß0F
G
M
R
O
F
(
`
p
e
r
u
n
i
t
o
f
r
e
t
a
i
l
s
p
a
c
e
)
Year
1700
1900
2100
2300
2500
2700
2900
2010-11 2009-10 2008-09 2007-08 2006-07
2520
2735
2471
2608
2771
(So.·.- |o¬c-·, V|S|
Mauagemeut 0iscussiou aud Aua|ysis Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 59
ßMß0I
500,000
700,000
900,000
1,100,000
1,300,000
1,500,000
1,700,000
1,900,000
2010-11 2009-10 2008-09 2007-08 2006-07
1,032,609
1,198,593
1,270,014
1,649,991
1,719,600
G
M
R
O
L
(
`
p
e
r
e
m
p
l
o
y
e
e
)
Year
(So.·.- |o¬c-·, V|S|
Fartoor 8at|sIact|oo Iodox (F8I}:
I|e pe|lc|¤arce cl ar] cc¤par] cepercs cr t|e asscc|at|cr arc |e|at|crs||p |t uu||cs w|t| va||cus vercc|s/pa|tre|s cve| a pe||cc cl
t|¤e. Ic eva|uate t||s sat|slact|cr arc e·pectat|cr, ]cu| cc¤par] |as appc|rtec CSVV (Custc¤e| Sat|slact|cr Veasu|e¤ert arc
Varaçe¤ert}, a pa|t cl |VRB (|rc|ar Va||et|rç arc Resea|c| Bu|eau} tc cc ar |¤pa|t|a| eva|uat|cr cl cu| |e|at|crs||p w|t| va||cus
sta|e|c|ce|s. I||s |e|ps ]cu| c|çar|sat|cr urce|starc t|e e·pectat|crs cl va||cus uus|ress pa|tre|s, cu||ert st|erçt|s arc ccrce|r a|eas
t|e|eu] |e|p set a c|ea| |cac¤ap lc| |¤p|cve¤ert arc uette| pe|lc|¤arce.
0u| |S| scc|es lc| t|e l|ve ]ea|s a|e as ue|cw.
¥oar 200c 2007 2008 2009 2010
8coros 3.80 1.00 1.0c 3.89 1.11
Fartoorsh|p Ior Frogross:
|a|tre|s||p lc| ||cç|ess (|||} |s a |e] vercc| ¤eet w||c| ]cu| cc¤par] ccrcucts arrua||]. Du||rç t||s evert, ]cu| cc¤par] çets arc
ç|ves cppc|tur|t] tc t|e tcp |eta|| vercc|s/u|arcs tc c|scuss arc st|erçt|er t|e asscc|at|cr, apa|t l|c¤ e·p|c||rç va||cus uus|ress
pcss|u|||t|es w|t| eac| ct|e|. I|e su¤¤|t a|sc uecc¤es a p|atlc|¤ lc| ]cu| cc¤par] as we|| as |ts pa|tre|s tc s|a|e t|e|| e·pe||erces w|t|
eac| ct|e|. Ycu| cc¤par] a|sc |rv|tes we||-|rcwr |rte|rat|cra| arc rat|cra| spea|e|s tc s|a|e |ea|r|rç arc e·pe||erce w||c| |s c|cse|]
|e|atec tc Reta||, B|arc, Custc¤e|, lcç|st|cs, etc.
Ycu| cc¤par] a|sc |eccçr|ses t|e pe|lc|¤arce cl tcp pa|tre|s w|c a|e |ewa|cec w|t| 'S|0||ERS SI0| ||||/ClE /W/RDS' cu||rç
t||s su¤¤|t.
I||s |s ar act|v|t] w|t| ¤c|e t|ar 100 vercc|s/pa|tre|s atterc|rç t|e su¤¤|t.
humao ßosourcos:
|c| ]cu| Cc¤par], t|e |u¤ar Rescu|ce lurct|cr |as evc|vec l|c¤ pu|e |R tc Ia|ert Varaçe¤ert cve| t|e |ast cre ]ea|. W|t| cu| lccus
ue|rç cr Ia|ert Varaçe¤ert ÷ Ia|ert ceve|cp¤ert arc |etert|cr we|e cl p||¤e |¤pc|tarce cve| t|e past ]ea|.
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/rrua| Repc|t 2010-11 | c0
Ycu| Cc¤par] |s |rcwr lc| |ts we||-cel|rec arc ellect|ve ¤ccu|e ÷ I|e Bau] Karça|cc p|cç|a¤¤e w||c| lurca¤erta||] ceve|cps t|e
l|crt erc asscc|ates tc a ¤araçe||a| |c||. I||s ]ea| we wc||ec w|t| arc |e|pec 27 asscc|ates c|css t|e u||cçe l|c¤ a l|crt erc asscc|ate
tcwa|cs a ¤araçe||a| |c||. We |cert|l|ec, ceve|cpec, t|a|rec arc ç|cc¤ec t|e¤ tc t|e|| re·t u|ç ass|çr¤ert.
I|e Varaçe||a| arc Supe|v|sc|] I|a|r|rç p|cç|a¤¤e (V./.S.I} was ccrcuctec lc| 37 ca]s w|t| t|e |e|p cl |rte|ra| as we|| as e·te|ra|
t|a|re|s. I|e ccrtert was e·|aust|ve arc ellect|ve.
Ycu| Cc¤par] |as a|sc |ecel|rec t|e Ke] Resu|t /|eas (KR/'s} |r a Ba|arcec Scc|e Ca|c lc|¤at. I|e sc|e cuject|ve lc| cc|rç t|e sa¤e
was tc cateçc||se t|e KR/'s |rtc l|rarc|a|, e¤p|c]ee, |rte|ra| p|ccess arc st|ateç|c sc t|at eve|] asscc|ate çets a c|ea| |cea cr t|e||
pe|lc|¤arce c||te||a. I||s ersu|es t|at t|e asscc|ate pe|lc|¤s tc t|e ¤a·|¤u¤ w||c| |esu|ts |r pe|scra| as we|| as c|çar|sat|cra|
ç|cwt|.
W|t| t|e c|arç|rç ccrsu¤e| ue|av|cu| arc tc uestcw çccc custc¤e| se|v|ce we |||ec a pcc| cl Varaçe¤ert I|a|rees t||cuç| ca¤pus
p|ace¤erts arc a|sc |||ec stucerts l|c¤ las||cr |rst|tutes arc ces|çratec t|e¤ as 'CC/ c |as||cr /ss|starts'.
I|e lccus cr lea|r|rç c Deve|cp¤ert |as ueer ar crçc|rç arc |rteç|a| pa|t cl t|e c|çar|sat|cr w|e|e t|e|e |as ueer a 5cº ç|cwt| |r
t|a|r|rç |cu|s e·tercec tc asscc|ates ac|css a|| |eve|s.
Ira|o|og hours 09-10 Ira|o|og hours 10-11 ßrowth 0vor Iast ¥oar %
12728 28931 127
Ycu| cc¤par] |as ccrcuctec 71 assess¤ert cert|es |r t|e |Y 2010-2011 ccve||rç 371 asscc|ates |r c|ce| tc p|cv|ce ç|cwt| cppc|tur|t|es
t|us ersu||rç a la|| arc t|arspa|ert ç|cwt| p|ccess.
Markot|og:
0u| u|arc p|||cscp|] cl 'Sta|t Sc¤et||rç |ew' was t|ars|atec |rtc cu| u|arc ca¤pa|çr, w||c| was t|e¤ec at vc|c|rç t|e u|uar Scc|a|
Ccrce|rs cl erv||cr¤ert, |ea|t|, |cac c puu||c t|arspc|t, a¤crçst ct|e|s. /t t|e sa¤e t|¤e t|e ca¤pa|çr pc|t|a]ec t|e ||ç| las||cr
u|arc |¤açe|] cl S|cppe|s Stcp. Ia||rç t|e u|arc p|||cscp|] a step lu|t|e|, we |r|t|atec t|e 'Sta|t Sc¤et||rç |ew Icca]' ca¤pa|çr |r
|e] ¤a||ets |||e Vu¤ua|, |ew De||| arc Berça|u|u. I||s ca¤pa|çr |s a se||es cl s¤a|| /cs t|at a|e puu||s|ec eve|] I|u|sca] cr paçe
3 cl |e] c|t] supp|e¤erts cl a |eac|rç puu||cat|cr |r t|ese c|t|es. I|ese acs p|cv|ce |rte|est|rç las||cr/s|cpp|rç t|ps tc t|e custc¤e|s
eve|] wee|, w||c| a|e a|sc ||ç|||ç|tec at t|e p|]s|ca| stc|es t||cuç| V|sua| Ve|c|arc|s|rç.
We ccrt|ruec w|t| cu| e·c|us|ve |eta|| a||arçe¤erts lc| ¤e|c|arc|se ||cers|rç w|t| Vccalcre-Essa| lc| t|e|| u|arc ¤ascct ÷ Zcctcc. |r
cu| erceavcu| tc p|cv|ce ur|cue ¤e|c|arc|se, we a|sc t|ec-up w|t| t|e l||¤ 'B|ea| Ke Baac' sta|||rç |¤|ar K|ar arc Deep||a |acu|cre
arc çave a c|arce tc cu| custc¤e|s tc e¤u|ate t|e las||cr cep|ctec |r t|e l||¤. I||s ]ea| we a|sc ccrt|ruec w|t| cateçc|]-uasec
p|c¤ct|crs |||e t|e Der|¤ |est, Watc| 0ut lest|va|, |cct la||, Sta|es c C|a|es, C||tte| c C|a¤ tc ra¤e a lew. I|ese lest|va|s lccusec cr
clle|s t|at we|e ava||au|e ac|css a|| u|arc ava||au|e |r cu| stc|e lc| t|e pa|t|cu|a| cateçc|].
Custc¤e| erçaçe¤ert ueca¤e t|e u|ç ||ç|||ç|t cl t||s ]ea| w|t| |rrcvat|ve |r|t|at|ves |r Scc|a| Vec|a Va||et|rç. Va||cus ccrtests cr t||s
space |ave ersu|ec t|at S|cppe|s Stcp erjc]s a |a|çe ru¤ue| cl l|KES, ¤c|e t|ar 7 |a||s cr |aceucc|. S|cppe|s Stcp |s a|sc act|ve cr
ct|e| p|atlc|¤s suc| as Iw|tte|, |cu|scua|e arc Ycu Iuue.
6ustomor 8at|sIact|oo:
/t S|cppe|s' Stcp, we st||ve tc p|cv|ce cu| custc¤e|s w|t| t|e uest cve|a|| e·pe||erce cl s|cpp|rç w|t| us. Ic ¤easu|e t|e custc¤e|
e·pe||erce, we ccrcuct custc¤e| sat|slact|cr su|ve]s tc eva|uate a |arçe cl pa|a¤ete|s |rc|uc|rç ¤e|c|arc|se |arçe arc cua||t], stc|e
erv||cr¤ert, stall, t|arsact|cr ell|c|erc], |c]a|t] p|cç|a¤¤e, sc|e¤es arc p|c¤ct|crs tc ra¤e a lew arc urce|ta|e |¤p|cve¤erts |r
va||cus a|eas.
We a|sc |rc|uce se|ect cc¤pet|t|cr stc|es |r cu| su|ve]s |r c|ce| tc ¤easu|e e·pe||erce |r cu| stc|es as cc¤pa|ec tc cc¤pet|t|cr.
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0vora|| 6ustomor 8at|sIact|oo Iodox:
Jaouary 2006 August 2006 Novombor 2007 Fobruary 2009 Apr|| 2010
c0 c3 c3 81 80
Ioya|ty Frogrammo
Ycu| Cc¤par] |as p|cree|ec |rc|a's l||st |eta|| |c]a|t] p|cç|a¤¤e - '|||st C|t|ters'. I|e |||st C|t|ters uase ç|ew u] 25º l|c¤ 1c.11 |acs
tc cve| 20.17 |acs custc¤e|s |r t||s ]ea|. Du||rç t|e cu||ert ]ea|, t|e |||st C|t|ters ccrt||uutec 73º cl t|e Cc¤par]'s arrua| sa|es. I|e
|||st C|t|ter p|cç|a¤¤e |as 3 t|e|s ÷ C|ass|c Vc¤erts (ert|] |eve|}, S||ve| Ecçe arc Cc|cer C|cw. Ve¤ue|s la|| |rtc t|e va||cus t|e|s cr
t|e uas|s cl t|e|| spercs w|t| us.
|||st C|t|ters a|sc ea|r c|lle|ert|a| |ewa|c uas|s cr t|e|| cu||ert t|e| cl ¤e¤ue|s||p. |||st C|t|ters |ece|ve.
º Rewa|c pc|rts cr t|e|| spercs. I|ese |ewa|c pc|rts car ue |ecee¤ec lc| a w|ce va||et] cl ¤e|c|arc|se at ]cu|
Cc¤par]'s stc|es.
º E·c|us|ve sc|e¤es, uerel|ts arc p|c¤ct|crs.
º E·tercec arc e·c|us|ve s|cpp|rç |cu|s ÷ espec|a||] cu||rç t|e lest|ve seascr. Spec|a| p|ev|ews uelc|e t|e sa|e
pe||ccs.
º |rv|tat|crs tc e·c|us|ve everts ÷ uct| |r-stc|e as we|| as t|cse c|çar|sec cuts|ce t|e stc|es.
º |c¤e ce||ve|] cl a|te|ec ¤e|c|arc|se.
º E·c|us|ve |||st C|t|ters |curçe at se|ect stc|es tc |e|a· alte| |ect|c s|cpp|rç.
|||st C|t|ters a|wa]s sta] upcatec w|t| a|| ceta||s pe|ta|r|rç tc t|e|| ¤e¤ue|s||p as we|| as t|e uest cl clle|s arc p||v||eçes ava||au|e,
t||cuç| a ur|cue se|v|ce ÷ |||st C|t|ters |||st I||cuç|. W|t| t||s se|v|ce, |||st C|t|ters çet a|| t|e |rlc|¤at|cr t|at t|e] wart cr t|e||
¤cu||e p|cres s|¤p|] u] serc|rç ar SVS.
I||s ]ea|, t|e cc¤par] ccrt|ruec w|t| t|e e·c|us|ve p|c¤ct|cr lc| |||st C|t|ters Ve¤ue|s ÷ |||st C|t|ters' ||esta. urce| t||s p|c¤ct|cr
t|e ¤e¤ue| ea|rec 3 t|¤es t|e |ewa|c pc|rts ues|ces |cts cl ct|e| spec|a| clle|s arc cea|s. I|e p|c¤ct|cr was ve|] we|| |ece|vec arc
|t |e|pec us lu|t|e| |e|rlc|ce cu| st|crç |e|at|crs||p w|t| t||s ¤e¤ue| cc¤¤ur|t].
6o-braodod 6rod|t/ßob|t 6ard Frogrammo w|th 6|t|baok:
Ycu| Cc¤par] |r asscc|at|cr w|t| C|t|uar| |as clle|ec |ts |||st C|t|ters ar cpt|cr tc acc cr a c|ec|t ca|c tc t|e|| e·|st|rç |c]a|t] ca|cs.
I||s erau|es |||st C|t|ters tc acc cr a c|ec|t ||re tc t|e|| pu|c|ases. I|e] a|sc |ave t|e accec acvartaçe cl ue|rç au|e tc c|ccse l|c¤
a¤crçst va||cus att|act|ve l|rarc|rç cpt|crs, cas| uac| sc|e¤es, EV| sc|e¤es etc. lc| uu]|rç at ]cu| Cc¤par]'s stc|es. |c| custc¤e|s
w|c a|e ave|se tc c|ec|t, t|e|e |s ar cpt|cr cl act|vat|rç a ceu|t ca|c. /s cr 31 Va|c| 2011, t|e ru¤ue| cl ¤e¤ue|s |r t|e cc-u|arcec
ca|c p|cç|a¤¤e was cve| 1,c0,000.
ß|sk Maoagomoot aod Iotoroa| 6ootro|:
Ellect|ve çcve|rarce ccrs|sts cl cc¤petert ¤araçe¤ert, |¤p|e¤ertat|cr cl starca|c pc||c|es arc p|ccesses, ¤a|rterarce cl ar
app|cp||ate auc|t p|cç|a¤¤e w|t| |rte|ra| ccrt|c| erv||cr¤ert ellect|ve ||s| ¤cr|tc||rç arc ¤araçe¤ert |rlc|¤at|cr s]ste¤s (V|S}.
I|e Cc¤par] |as ar |rteç|atec app|cac| lc| ¤araçe¤ert cl ||s| arc |as lc|¤u|atec t|e l|a¤ewc|| lc| |eçu|atc|] arc ||s| ¤araçe¤ert,
starca|c|s|rç t|e cel|r|t|cr cl |rte|ra| ccrt|c|s.
|t a|sc p|cv|ces a l|a¤ewc|| lc| ||s| ¤araçe¤ert arc |eçu|atc|] cc¤p||arce, w||c| |ecu||es ||s| assess¤erts arc |e|atec pc||c|es,
a ccrt|c|-uasec erv||cr¤ert arc act|v|t|es, |rlc|¤at|cr arc cc¤¤ur|cat|cr p|ccecu|es, arc a ¤cr|tc||rç ¤ec|ar|s¤ lc| t|e ccrt|c|
erv||cr¤ert.
I|e Cc¤par] |as a scurc s]ste¤ cl |rte|ra| Ccrt|c|s lc| l|rarc|a| |epc|t|rç cl va||cus t|arsact|crs, ell|c|erc] cl cpe|at|crs arc
cc¤p||arce w|t| |e|evart |aws arc |eçu|at|crs cc¤¤ersu|ate w|t| |ts s|te arc ratu|e cl uus|ress. I|e Cc¤par] |as a we||-cel|rec
s]ste¤ cl ¤araçe¤ert |epc|t|rç arc pe||cc|c |ev|ew cl uus|resses tc ersu|e t|¤e|] cec|s|cr-¤a||rç.
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I|ese |rte|ra| ccrt|c| p|ccecu|es ersu|e t|e lc||cw|rç.
º Ell|c|ert use arc p|ctect|cr cl |escu|ces.
º Cc¤p||arce w|t| pc||c|es, p|ccecu|es arc statutes.
º /ccu|ac] arc p|c¤ptress cl l|rarc|a| |epc|ts.
I|e V|S lc|¤s ar |rteç|a| pa|t cl t|e Cc¤par]'s ccrt|c| ¤ec|ar|s¤. /|| cpe|at|rç pa|a¤ete|s a|e ¤cr|tc|ec arc ccrt|c||ec, w|t|
¤ate||a| cev|at|crs l|c¤ t|e arrua| p|arr|rç arc uucçet|rç arc uus|ress cut|cc| |rc|uc|rç cap|ta| e·perc|tu|e |epc|tec tc t|e Bca|c cr
cua|te||] uas|s.
Repc|ts cl |rte|ra| auc|tc|s a|e |ev|ewec u] t|e /uc|t Cc¤¤|ttee, arc cc||ect|ve ¤easu|es a|e ca|||ec cut tcwa|cs lu|t|e| |¤p|cve¤ert
|r s]ste¤s arc p|ccecu|es arc cc¤p||arce w|t| |rte|ra| Ccrt|c| S]ste¤. I|e uca|c a|sc |eccçr|ses t|e wc|| cl t|e auc|tc|s as ar
|rcepercert c|ec| cr t|e |rlc|¤at|cr |ece|vec l|c¤ t|e ¤araçe¤ert cr t|e cpe|at|crs arc pe|lc|¤arce cl t|e cc¤par].
Iochoo|ogy Io|t|at|vos:
|r t|e ]ea| 2010-11, ]cu| cc¤par] ccrt|ruec |ts t||ust tcwa|cs sca||rç up lc| ç|cwt|, |rc|eas|rç cpe|at|cra| ell|c|erc] arc e·p|c||rç
tec|rc|cç] |eac |rrcvat|cr tc susta|r t|e |eace|s||p pcs|t|cr |r |I accpt|cr |r t|e |rc|ar arc C|cua| |eta|| ¤a||ets. Sc¤e cl t|e |e]
|r|t|at|ves |r t||s c||ect|cr a|e.
Ycu| cc¤par] |s cre cl t|e l||st |eta||e|s tc |¤p|e¤ert B|c¤et||cs-uasec aut|ert|cat|cr |r stc|es. I||s ç|ves t|e uus|ress t|e au|||t] tc
ccrt|c| s|||r|açe u] ¤araç|rç /sscc|ates uette| cr t|e s|cp l|cc|. |¤p|e¤ertec |r ccrjurct|cr w|t| s¤a|t CCIVs at a|| stc|es, t|e|e |s a
¤easu|au|e |ecuct|cr |r t|elt arc p||le|açe.
/ |a|çe sca|e upç|ace cl t|e cc|e Ve|c|arc|se Varaçe¤ert S]ste¤ |as ueer urce|ta|er |r t||s ||rarc|a| ]ea|. I||s upç|ace w|||e
|eep|rç t|e c|çar|sat|cr up tc speec w|t| t|e |atest arc uest |r |eta|| tec|rc|cç] wcu|c p|cv|ce seve|a| uerel|ts |rc|uc|rç uut rct ||¤|tec
tc /utc Rep|er|s|¤ert arc /||ccat|cr, Wa|e|cuse Varaçe¤ert, Ve|c|arc|se setup, Data secu||t] etc. Ycu| cc¤par] |s a|sc |r t|e
p|ccess cl upç|ac|rç |ts l|rarc|a| acccurt|rç s]ste¤ tc ersu|e t|at we cc¤p|] w|t| ç|cua| uest p|act|ces |r /cccurt|rç ||ccesses.
Ycu| cc¤par] |as autc¤atec t|e Ba|arce Scc|e Ca|c t||cuç| 0|ac|e's |ecp|eSclt app||cat|cr tc lac|||tate a la|| arc t|arspa|ert app|a|sa|
s]ste¤ lc| a|| |ts asscc|ates. / se|l-se|v|ce ¤ccu|e lc| I|ave| arc E·perses |as ueer |¤p|e¤ertec tc ersu|e t|at p|ccesses a|e lu|t|e|
s|¤p||l|ec ¤a||rç ||le eas|e| lc| e¤p|c]ees. Vc|e vercc|s |ave ueer u|cuç|t urce| t|e RICS u¤u|e||a w||c| lac|||tates |ecucec ¤arua|
ellc|t, cu|c|e| pa]¤erts, arc uette| cas| ¤araçe¤ert. We ccrt|ruec |rvest¤erts |r t|e B2B s]ste¤ ÷ a cc||auc|at|ve s]ste¤ lc| cu|
vercc| cc¤¤ur|t] w||c| |e|ps t|e¤ p|ar ¤e|c|arc|se |ave ueer lu|t|e| st|erçt|erec t||s ]ea|.
|r c|ce| tc st|erçt|er t|e |rlc|¤at|cr secu||t], ]cu| cc¤par] |as ueer wc|||rç w|t| ç|cua| |rlc|¤at|cr secu||t] |eace|s tc upç|ace arc
er|arce t|e secu||t] cl a|| s]ste¤s. I|e cc¤par] t||s ]ea| a|sc |¤p|e¤ertec tcc|s l|c¤ |BV (uu||t cr B|ç||· tec|rc|cç]}, a sc|ut|cr t|at
u||rçs ell|c|erc] |r cetect|cr cl secu||t] vu|re|au|||t] arc |e¤ec|at|cr, |I cc¤p||arce |epc|t|rç, secu||t] patc| ¤araçe¤ert arc secu||t]
pc||c] erlc|ce¤ert cr a|| use| cc¤put|rç cev|ces.
6orporato ßovoroaoco:
Ycu| Cc¤par] |as ta|er steps tc ersu|e t|at t|e Cc|pc|ate Ccve|rarce çu|ce||res a|e accptec arc lu||] cc¤p||ec w|t|. I|e ceta||ec
Cc|pc|ate Ccve|rarce Repc|t |s attac|ec w|t| t||s |epc|t.
6aut|ooary 8tatomoot:
I|e state¤ert ¤ace |r t||s sect|cr cesc||ues t|e Cc¤par]'s cuject|ves, p|cject|crs, e·pectat|crs arc est|¤at|crs w||c| ¤a] ue
lc|wa|c |cc||rç state¤erts' w|t||r t|e ¤ear|rç cl app||cau|e secu||t|es |aws arc |eçu|at|crs. I|e arrua| |esu|ts car c|lle| ¤ate||a||]
l|c¤ t|cse e·p|essec c| |¤p||ec, ceperc|rç cr t|e eccrc¤|c arc c||¤at|c ccrc|t|crs, Ccve|r¤ert pc||c|es arc ct|e| |rc|certa| lactc|s
w||c| a|e ue]crc t|e ccrt|c| cl t|e Cc¤par].
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Ic t|e Ve¤ue|s cl S|cppe|s Stcp l|¤|tec
We |ave e·a¤|rec t|e cc¤p||arce cl ccrc|t|crs cl Cc|pc|ate Ccve|rarce u] S|cppe|s Stcp l|¤|tec ('t|e Cc¤par]'} lc| t|e ]ea| ercec
cr 31 Va|c|, 2011 as st|pu|atec |r C|ause 19 cl t|e l|st|rç /ç|ee¤ert cl t|e sa|c Cc¤par] w|t| t|e stcc| e·c|arçes |r |rc|a.
I|e cc¤p||arce cl ccrc|t|crs cl Cc|pc|ate Ccve|rarce |s t|e |espcrs|u|||t] cl t|e Varaçe¤ert. 0u| e·a¤|rat|cr was ||¤|tec tc p|ccecu|es
arc |¤p|e¤ertat|cr t|e|ecl, accptec u] t|e Cc¤par] lc| ersu||rç t|e cc¤p||arce cl t|e ccrc|t|crs cl Cc|pc|ate Ccve|rarce. |t |s re|t|e|
ar auc|t rc| ar e·p|ess|cr cl cp|r|cr cr t|e l|rarc|a| state¤erts cl t|e Cc¤par].
|r cu| cp|r|cr, arc tc t|e uest cl cu| |rlc|¤at|cr arc accc|c|rç tc t|e e·p|arat|crs ç|ver tc us, we ce|t|l] t|at t|e Cc¤par] |as cc¤p||ec
w|t| t|e ccrc|t|crs cl Cc|pc|ate Ccve|rarce as st|pu|atec |r t|e aucve¤ert|crec l|st|rç /ç|ee¤ert.
We lu|t|e| state t|at suc| cc¤p||arce |s re|t|e| ar assu|arce as tc t|e lutu|e v|au|||t] cl t|e Cc¤par] rc| t|e ell|c|erc] c| ellect|veress
w|t| w||c| t|e Varaçe¤ert |as ccrcuctec t|e alla||s cl t|e Cc¤par].
For ßo|o|tto hask|os 8 8o||s,
C|a|te|ec /cccurtarts
(Reç|st|at|cr |c. 1173ccW}
8hyamak ß. Iata
|a|tre|
Ve¤ue|s||p |c. 38320
||ace. Vu¤ua|
Date. 29 /p||| 2011
Certificate of Comp|iauce from Auditors as stipu|ated uuder C|ause 49
of the Listiug Agreemeut with the Stocl Exchauges iu ludia Shoppers Stop Ltd.
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6ompaoy's ph||osophy oo 6odo oI ßovoroaoco
I|e Cc¤par] |e¤a|rs cc¤¤|ttec tc t|e ccrcept cl çccc cc|pc|ate çcve|rarce p|act|ces |r a|| |ts act|v|t|es tc ersu|e t|at t|e u|t|¤ate
çca| cl ¤a||rç t|e Cc¤par] a va|ue c||ver c|çar|sat|cr. |ts p|||cscp|] cr t|e ccce cl Cc|pc|ate Ccve|rarce |s.
º Ic ersu|e acecuate ccrt|c| s]ste¤s tc erau|e t|e Bca|c tc ell|c|ert|] ccrcuct t|e uus|ress arc c|sc|a|çe |ts |espcrs|u|||t|es tc
s|a|e|c|ce|s.
º Ic ersu|e t|at t|e cec|s|cr ¤a||rç p|ccess |s la|| arc t|arspa|ert.
º Ic ersu|e lu||est |rvc|ve¤ert arc cc¤¤|t¤ert cl t|e ¤araçe¤ert lc| ¤a·|¤|sat|cr cl s|a|e|c|ce|s va|ue.
º Ic |¤u|ue t|e cc|pc|ate va|ues |r t|e e¤p|c]ees arc erccu|açe t|e¤ |r t|e|| ccrcuct.
º Ic ersu|e t|at t|e Cc¤par] lc||cws t|e ç|cua||] |eccçr|sec cc|pc|ate çcve|rarce p|act|ces.
We |ave ¤ace ccrsc|cus ellc|ts tc |rst|tut|cra||se Cc|pc|ate Ccve|rarce p|act|ce arc we ue||eve t|at |t s|a|| çc ue]crc ac|e|erce tc
t|e |eçu|atc|] l|a¤ewc||. 0u| cc|pc|ate st|uctu|e, uus|ress arc c|sc|csu|e p|act|ces |ave ueer a||çrec tc cu| Cc|pc|ate Ccve|rarce
||||cscp|]. We w||| ccrt|rucus|] erceavcu| tc ta|e lc|wa|c t|e uest p|act|ces tc er|arce sta|e|c|ce|'s va|ue.
ßoard oI ß|roctors
I|e Bca|c cl D||ectc|s cc¤p||ses cl ter ¤e¤ue|s |rc|uc|rç cre e·ecut|ve c||ectc| arc r|re rcr-e·ecut|ve c||ectc|s. I|e Cc¤par] |as a
rcr-e·ecut|ve p|c¤cte| C|a||¤ar arc t|e ru¤ue| cl |rcepercert c||ectc|s |s cre |a|l cl t|e tcta| ru¤ue| cl D||ectc|s. I|e |rcepercert
c||ectc|s cr t|e Bca|c a|e p|cless|cra|s, tec|rcc|ats arc |eta|| e·pe|ts, w|c a|e ser|c|, cc¤petert arc ||ç||] |espectec pe|scrs l|c¤
t|e|| |espect|ve l|e|cs arc p|cv|ce st|ateç|c c||ect|cr arc t||ust tc t|e cpe|at|cr cl t|e Cc¤par].
I|e |e] cec|s|crs a|e ta|er alte| ceta||ec ce||ue|at|crs arc c|scuss|crs u] t|e Bca|c. I|e Cc¤par] a|wa]s ersu|es t|at Bca|c ¤e¤ue|s
a|e p|esertec w|t| a|| t|e |e|evart |rlc|¤at|cr cr v|ta| ¤atte|s allect|rç t|e wc|||rç cl t|e Cc¤par] |rc|uc|rç t|e |rlc|¤at|cr as |rte|a||a
spec|l|ec urce| /rre·u|e - |/ cl C|ause 19 cl t|e l|st|rç /ç|ee¤ert.
|cre cl t|e D||ectc|s cr t|e Bca|c |s a Ve¤ue| cr ¤c|e t|ar ter Cc¤¤|ttees arc C|a||¤ar cl ¤c|e t|ar l|ve Cc¤¤|ttees (as spec|l|ec
|r C|ause 19}, ac|css a|| t|e cc¤par|es |r w||c| t|e] a|e D||ectc|s.
I|e cc¤pcs|t|cr cl t|e Bca|c cl D||ectc|s, t|e|| attercarce at Bca|c Veet|rçs cu||rç t|e ]ea| arc at t|e |ast /rrua| Cere|a| Veet|rç
arc t|e ru¤ue| cl ct|e| D||ectc|s||ps arc Cc¤¤|ttee Ve¤ue|s||ps |e|c u] t|e¤ |r ct|e| Cc¤par|es a|e ç|ver ue|cw.
Namo oI ß|roctors 6atogory ßos|goat|oo Attoodaoco
part|cu|ars
No. oI othor ß|roctorsh|ps 8 6omm|ttoo
Momborsh|ps/6ha|rmaosh|ps
ßoard
Moot|ogs
Iast
AßM
ß|roctorsh|ps
1
6omm|ttoo
Momborsh|p
1 8 2
6omm|ttoo
6ha|rmaosh|p
1 8 2
V|. C|arc|u l.
Ra|eja
||c¤cte| c |cr-
E·ecut|ve D||ectc|
C|a||¤ar 1 Yes 1 1 0
V|. Rav| C.
Ra|eja
||c¤cte| c |cr-
E·ecut|ve D||ectc|
D||ectc| 5 Yes 5 1 1
V|. |ee| C.
Ra|eja
||c¤cte| c |cr-
E·ecut|ve D||ectc|
D||ectc| 5 Yes 1 1 0
V|. B. S. |açes| |cr-E·ecut|ve
D||ectc|
V|ce C|a||¤ar 5 Yes 3 1 0
V|. Cu|u l.
V||c|arcar|
|rcepercert c |cr-
E·ecut|ve D||ectc|
D||ectc| 5 |c 8 2 0
V|. S|a|taac S.
Da|a|
|rcepercert c |cr-
E·ecut|ve D||ectc|
D||ectc| 2 |c 12 7 1
||cl. ||t|r
Sarç|av|
|rcepercert c |cr-
E·ecut|ve D||ectc|
D||ectc| 1 Yes 1 1 0
V|. Deepa|
C|a|sas
|rcepercert c |cr-
E·ecut|ve D||ectc|
D||ectc| 5 Yes 3 1 2
V|. Ccv|rc
S|||||arce
E·ecut|ve D||ectc| Varaç|rç
D||ectc|
5 Yes 1 0 0
V|. |||v|| S|rç| |rcepercert c
|cr-E·ecut|ve
D||ectc|
D||ectc| 1 |c 0 0 0
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Notos:
1. I|e ct|e| D||ectc|s||ps arc C|a||¤ars||ps/Ve¤ue|s||ps cl cc¤¤|ttees |e|c |r lc|e|çr cc¤par|es, p||vate ||¤|tec cc¤par|es arc
cc¤par|es |rcc|pc|atec u/s 25 cl t|e Cc¤par|es /ct, 195c a|e e·c|ucec.
2. I|e C|a||¤ars||p arc Ve¤ue|s||p cl /uc|t Cc¤¤|ttee arc S|a|e|c|ce|s' C||evarce Cc¤¤|ttee a|cre a|e ccrs|ce|ec.
3. V|. Rav| C. Ra|eja arc V|. |ee| C. Ra|eja a|e scrs cl V|. C|arc|u. l. Ra|eja. |c ct|e| c||ectc| |s |e|atec tc ar] ct|e| c||ectc| cl t|e
Cc¤par].
1. V|. Ccv|rc S|||||arce was appc|rtec arc ces|çratec as 'Custc¤e| Ca|e /sscc|ate c Varaç|rç D||ectc|' cl t|e Cc¤par] w.e.l. 29t|
Ju|] 2010. Belc|e t||s appc|rt¤ert, V|. S|||||arce was ||es|cert c CE0 c E·ecut|ve D||ectc| cl t|e Cc¤par].
Du||rç t|e ]ea| urce| |ev|ew, t|e Bca|c cl D||ectc|s ¤et l|ve t|¤es |.e cr 28t| /p|||, 2010, 30t| Jure, 2010, 29t| Ju|], 2010,
29t| 0ctcue|, 2010 arc 21t| Jarua|], 2011. I|e ¤a·|¤u¤ |rte|va| uetweer ar] twc Veet|rçs cu||rç t||s pe||cc cces rct e·ceec
lcu| ¤crt|s.
Dates lc| t|e Bca|c Veet|rçs lc| t|e ersu|rç ]ea| a|e cec|cec we|| |r acvarce arc cc¤¤ur|catec tc t|e D||ectc|s. I|e /çerca
a|crç w|t| t|e e·p|aratc|] rctes a|e sert |r acvarce tc t|e D||ectc|s. /cc|t|cra| ¤eet|rçs cl t|e Bca|c a|e |e|c w|er cee¤ec
recessa|] u] t|e Bca|c.
I|e Cc¤par] |as accptec t|e Ccce cl Ccrcuct lc| a|| Bca|c ¤e¤ue|s arc ¤araçe¤ert pe|scrre|s cl t|e Cc¤par]. I||s Ccce |s
pcstec cr t|e weus|te cl t|e Cc¤par]. /|| Bca|c ¤e¤ue|s arc ¤araçe¤ert pe|scrre|s |ave ccrl||¤ec cc¤p||arce tc t|e Ccce
cl Ccrcuct. / cec|a|at|cr s|çrec u] t|e Varaç|rç D||ectc| cl t|e Cc¤par] tc t||s ellect |s appercec w|t| t|e Repc|t.
Aud|t 6omm|ttoo
I|e Cc¤par] |as ccrst|tutec ar /uc|t Cc¤¤|ttee |r t|e ]ea| 2001. I|e |c|e, pcwe|s arc lurct|crs cl t|e /uc|t cc¤¤|ttee |s |r
accc|carce w|t| C|ause 19 cl t|e l|st|rç /ç|ee¤ert arc Sect|cr 292/ cl t|e Cc¤par|es /ct, 195c.
I|e /uc|t Cc¤¤|ttee cc¤p||ses cl lcu| |cr-E·ecut|ve D||ectc|s. I|e ¤e¤ue|s cl t|e Cc¤¤|ttee pcssess t|e scurc |rcw|ecçe cl
l|rarce c acccurts. I|e /uc|t Cc¤¤|ttee |rv|tes suc| cl t|e e·ecut|ves, as |t ccrs|ce|s app|cp||ate tc ue p|esert at t|e ¤eet|rçs
cl t|e Cc¤¤|ttee. I|e Varaç|rç D||ectc|, V|ce C|a||¤ar, C|cup C||el ||rarc|a| 0ll|ce|, Cc¤par] Sec|eta|], |ep|esertat|ves cl t|e
|rte|ra| auc|tc|s arc statutc|] auc|tc|s a|e a|sc p|esert at t|e /uc|t Cc¤¤|ttee Veet|rçs as |rv|tees.
Du||rç t|e ]ea| urce| |ev|ew, t|e Cc¤¤|ttee ¤et lcu| t|¤es cr 28t| /p|||, 2010, 28t| Ju|], 2010, 2ct| 0ctcue|, 2010 arc
21t| Jarua|], 2011.
I|e Cc¤pcs|t|cr cl t|e /uc|t Cc¤¤|ttee arc t|e attercarce cl t|e ¤e¤ue|s at t|e ¤eet|rçs |e|c a|e as lc||cws.
Namo oI Mombor 8tatus 6atogory No. oI moot|ogs attoodod
V|. Deepa| C|a|sas C|a||¤ar |rcepercert D||ectc| 1
V|. Rav| C. Ra|eja Ve¤ue| |cr-|rcepercert D||ectc| 1
V|. S|a|taac S. Da|a| Ve¤ue| |rcepercert D||ectc| 2
||cl. ||t|r Sarç|av| Ve¤ue| |rcepercert D||ectc| 1
V|. ||as|art Ve|ta, V|ce ||es|cert ÷ leça| arc Cc¤par] Sec|eta|] cl t|e Cc¤par] acts as t|e Sec|eta|] tc t|e Cc¤¤|ttee.
I|e u|cac te|¤s cl |ele|erce cl t|e /uc|t Cc¤¤|ttee |rte|-a||a |s as urce|.
1. Ic cve|see t|e Cc¤par]'s l|rarc|a| |epc|t|rç p|ccess arc t|e c|sc|csu|e cl |ts l|rarc|a| |rlc|¤at|cr, tc ersu|e t|at t|e l|rarc|a|
state¤ert |s cc||ect, sull|c|ert arc c|ec|u|e.
2. Ic |ecc¤¤erc tc t|e Bca|c, t|e appc|rt¤ert arc |e-appc|rt¤ert cl Statutc|] /uc|tc|s, l|·at|cr cl auc|t lees arc a|sc app|cva| lc|
pa]¤ert cl ar] ct|e| se|v|ces.
Corporate 6overuauce Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | cc
3. Ic |ev|ew w|t| t|e ¤araçe¤ert, t|e arrua| l|rarc|a| state¤erts uelc|e suu¤|ss|cr tc t|e uca|c lc| app|cva|, w|t| pa|t|cu|a|
|ele|erce tc.
a} Vatte|s |ecu||ec tc ue |rc|ucec |r t|e D||ectc|'s Respcrs|u|||t] State¤ert tc ue |rc|ucec |r t|e Bca|c's |epc|t |r te|¤s cl C|ause
(2//} cl Sect|cr 217 cl t|e Cc¤par|es /ct, 195c.
u} C|arçes, |l ar], |r acccurt|rç pc||c|es arc p|act|ces arc |eascrs lc| t|e sa¤e.
c} Vajc| acccurt|rç ert||es |rvc|v|rç est|¤ates uasec cr t|e e·e|c|se cl jucçe¤ert u] ¤araçe¤ert.
c} S|çr|l|cart acjust¤erts ¤ace |r t|e l|rarc|a| state¤erts a||s|rç cut cl auc|t l|rc|rçs.
e} Cc¤p||arce w|t| ||st|rç arc ct|e| |eça| |ecu||e¤erts |e|at|rç tc l|rarc|a| state¤erts.
l} D|sc|csu|e cl |e|atec pa|t] t|arsact|crs.
ç} 0ua||l|cat|crs |r t|e c|alt auc|t |epc|t.
1. Ic |ev|ew w|t| t|e ¤araçe¤ert, t|e cua|te||] l|rarc|a| state¤erts uelc|e suu¤|ss|cr tc t|e Bca|c lc| app|cva|.
5. Ic |ev|ew w|t| t|e ¤araçe¤ert, pe|lc|¤arce cl statutc|] arc |rte|ra| auc|tc|s arc acecuac] cl t|e |rte|ra| ccrt|c| s]ste¤s.
c. Rev|ew|rç, w|t| t|e ¤araçe¤ert, t|e state¤ert cl uses/app||cat|cr cl lurcs |a|sec t||cuç| ar |ssue (puu||c |ssue, ||ç|ts |ssue,
p|ele|ert|a| |ssue, etc.} t|e state¤ert cl lurcs ut|||sec lc| pu|pcses ct|e| t|ar t|cse statec |r t|e clle| cccu¤ert c| p|cspectus arc
¤a||rç app|cp||ate |ecc¤¤ercat|crs tc t|e Bca|c tc ta|e up steps |r t||s ¤atte|.
7. Ic |ev|ew t|e acecuac] cl |rte|ra| auc|t lurct|cr, |rc|uc|rç t|e st|uctu|e cl t|e |rte|ra| auc|t cepa|t¤ert, stall|rç cl t|e cepa|t¤ert,
|epc|t|rç st|uctu|e ccve|açe arc l|ecuerc] cl |rte|ra| auc|t.
8. D|scuss|cr w|t| |rte|ra| auc|tc|s ar] s|çr|l|cart l|rc|rçs arc lc||cw up t|e|e cr.
9. Rev|ew|rç t|e l|rc|rçs cl ar] |rte|ra| |rvest|çat|crs u] t|e |rte|ra| auc|tc|s |rtc ¤atte|s w|e|e t|e|e |s suspectec l|auc c| |||eçu|a||t]
c| a la||u|e cl |rte|ra| ccrt|c| s]ste¤s cl a ¤ate||a| ratu|e arc |epc|t|rç t|e ¤atte| tc t|e Bca|c.
10. D|scuss|cr w|t| statutc|] auc|tc|s uelc|e t|e auc|t cc¤¤erces, aucut t|e ratu|e arc sccpe cl auc|t as we|| as pcst-auc|t c|scuss|cr
tc asce|ta|r ar] a|ea cl ccrce|r.
11. Ic |ev|ew t|e lurct|cr|rç cl t|e W||st|e B|cwe| ¤ec|ar|s¤.
12. Ca||]|rç cut ar] ct|e| lurct|cr as ¤a] ue accec tc t|e te|¤s cl |ele|erce cl t|e /uc|t Cc¤¤|ttee.
6ompoosat|oo/ßomuoorat|oo 6omm|ttoo
I|e Cc¤par] |as ccrst|tutec Cc¤persat|cr/Re¤ure|at|cr Cc¤¤|ttee |r t|e ]ea| 2001. I|e sccpe cl t|e act|v|t|es cl t|e
Cc¤persat|cr/Re¤ure|at|cr Cc¤¤|ttee |s tc |ecc¤¤erc t|e |e¤ure|at|cr pa]au|e tc t|e E·ecut|ve D||ectc| cl t|e Cc¤par],
pa]¤ert cl cc¤¤|ss|cr arc s|tt|rç lees tc |cr-E·ecut|ve D||ectc|s arc lc|¤u|at|cr arc |¤p|e¤ertat|cr cl va||cus E¤p|c]ee
Stcc| 0pt|cr ||ars (ES0|} Sc|e¤es |r t|e Cc¤par].
Du||rç t|e ]ea|, t|e Cc¤¤|ttee ¤et ter t|¤es |.e. cr 28t| /p|||, 2010, 29t| Ju|], 2010 (9.30 a.¤.}, 29t| Ju|], 2010 (1.30 p.¤.},
13t| /uçust, 2010, 23|c Septe¤ue|, 2010, 29t| 0ctcue|, 2010, 13t| Dece¤ue|, 2010, 21t| Jarua|], 2011, 21st |eu|ua|], 2011
arc 25t| Va|c|, 2011.
I|e Cc¤pcs|t|cr cl t|e Cc¤¤|ttee arc t|e attercarce cl t|e ¤e¤ue|s at t|e ¤eet|rçs |e|c a|e as lc||cws.
Namo oI Mombor 8tatus No. oI moot|ogs attoodod
V|. C. l. V||c|arcar| C|a||¤ar 9
V|. Rav| C. Ra|eja Ve¤ue| 10
V|. S|a|taac S. Da|a| Ve¤ue| c
||cl. ||t|r Sarç|av| Ve¤ue| 9
Corporate 6overuauce Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | c7
ßomuoorat|oo Fo||cy
1. I|e |e¤ure|at|cr cl t|e E·ecut|ve D||ectc| |s |ecc¤¤ercec u] t|e Cc¤persat|cr/Re¤ure|at|cr Cc¤¤|ttee uasec cr c||te||a suc|
as |rcust|] uerc|¤a||s, t|e Cc¤par]'s pe|lc|¤arce v|s-a-v|s t|e |rcust|], |espcrs|u|||t|es s|cu|ce|ec, pe|lc|¤arce/t|ac| |ecc|c,
¤ac|c eccrc¤|c |ev|ew cr |e¤ure|at|cr pac|açes cl |eacs cl ct|e| c|çar|sat|crs arc |s cec|cec u] t|e Bca|c cl D||ectc|s. I|e
Cc¤par] pa]s |e¤ure|at|cr u] wa] cl sa|a|], pe|cu|s|tes, a||cwarces arc p|cl|t ||r|ec |ewa|c sc|e¤e tc |ts E·ecut|ve D||ectc|.
/rrua| |rc|e¤erts a|e cec|cec u] t|e Cc¤persat|cr/Re¤ure|at|cr Cc¤¤|ttee w|t||r t|e sa|a|] app|cvec u] ¤e¤ue|s arc a|e
rc|¤a||] ellect|ve l|c¤ /p||| 1, arrua||].
2. I|e Cc¤par] pa]s s|tt|rç lees cl 20,000/- tc |ts |cr-E·ecut|ve D||ectc|s lc| atterc|rç eac| Bca|c cl D||ectc|s ¤eet|rç.
3. I|e ¤e¤ue|s cl t|e Cc¤par] at t|e ||rt| /rrua| Cere|a| Veet|rç |ac app|cvec t|e pa]¤ert arc c|st||uut|cr cl su¤ rct e·ceec|rç
1º cl t|e ret p|cl|ts cl t|e Cc¤par] ca|cu|atec |r accc|carce w|t| t|e p|cv|s|crs cl Sect|crs 198, 319 arc 350 cl t|e Cc¤par|es
/ct, 195c u] wa] cl cc¤¤|ss|cr tc |cr-E·ecut|ve D||ectc|s. |t |s rcw p|cpcsec tc |erew t|e |esc|ut|cr aut|c||s|rç t|e pa]¤ert
arc c|st||uut|cr cl sa|c cc¤¤|ss|cr lc| a lu|t|e| pe||cc cl 5 (l|ve} ]ea|s tc |cr-E·ecut|ve D||ectc|s, cc¤¤erc|rç l|c¤ /p||| 1, 2011,
suuject tc t|e |ecu|s|te app|cva| cl s|a|e|c|ce|s at t|e ersu|rç /rrua| Cere|a| Veet|rç cl t|e Cc¤par].
Deta||s cl cc¤persat|cr pa|c/pa]au|e tc |cr-E·ecut|ve D||ectc|s cu||rç t|e ]ea| a|e as urce|.
Namo oI ß|roctors 6omm|ss|oo ( } 8|tt|og Foos ( } Iota| ( }
V|. C|arc|u l. Ra|eja 0 80,000 80,000
V|. Rav| C. Ra|eja 0 100,000 100,000
V|. |ee| C. Ra|eja 0 100,000 100,000
V|. B. S. |açes| 300,000 100,000 100,000
V|. Cu|u l. V||c|arcar| 300,000 100,000 100,000
V|. S|a|taac S. Da|a| 300,000 10,000 310,000
||cl. ||t|r Sarç|av| 300,000 80,000 380,000
V|. Deepa| C|a|sas c00,000 100,000 700,000
V|. |||v|| S|rç| 300,000 80,000 380,000
Iota| 2,100,000 780,000 2,880,000
Deta||s cl |e¤ure|at|cr pa|c tc V|. Ccv|rc S|||||arce, Varaç|rç D||ectc| lc| t|e l|rarc|a| ]ea| 2010-2011 |s as urce|.
8a|ary aod ßoous ( } Forqu|s|tos
( }
6ootr|but|oo to Frov|doot
Fuod ( }
Iota|
( }
32,953,050 c21,500 1,29c,000 31,870,550
Corporate 6overuauce Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | c8
E80Fs
Deta||s cl ç|art cl stcc| cpt|crs tc arc e·e|c|se cl stcc| cpt|crs u] V|. B. S. |açes|, V|ce C|a||¤ar urce| t|e lc||cw|rç ES0|
Sc|e¤es |s as urce|.
8chomo ßato oI
ßraot
0pt|oos
ßraotod*
0pt|oos vostod
aod oxorc|sod*
ßraot pr|co por
oqu|ty sharo* ( }
Fa|r va|uo oo tho
dato oI graot* ( }
vost|og por|od
ES0|-||| 01.05.01 15,120 15,120 75 90.5 3 ]ea|s
ES0|-|V 01.02.05 27,9c0 27,9c0 120 121 39 ¤crt|s
ES0|-V-1 28.12.05 22,70c 13,c20 192 211.5 3 ]ea|s
ES0| 2008-1 29.01.09 100,000 0 55 55 38 ¤crt|s
Deta||s cl ç|art cl stcc| cpt|crs tc arc e·e|c|se cl stcc| cpt|crs u] V|. Ccv|rc S|||||arce, Varaç|rç D||ectc| urce| t|e lc||cw|rç ES0|
Sc|e¤es |s as urce|.
8chomo ßato oI
ßraot
0pt|oos
ßraotod*
0pt|oos vostod
aod oxorc|sod*
ßraot pr|co por
oqu|ty sharo* ( }
Fa|r va|uo oo tho
dato oI graot* ( }
vost|og por|od
ES0|-||| 01.05.01 18,1c0 18,1c0 75 90.5 3 ]ea|s
ES0|-|V 01.02.05 11,510 11,510 120 121 39 ¤crt|s
ES0|-V-1 28.12.05 10,c12 10,c12 192 211.5 3 ]ea|s
ES0| 2008-1 29.01.09 2c0,000 78,000 55 55 38 ¤crt|s
ES0| 2008-2 21.03.10 21,000 7,200 191 191 3 ]ea|s
'I|e ru¤ue| cl cpt|crs, ç|art p||ce pe| s|a|e arc la|| va|ue |as ueer acjustec tc |el|ect t|e suu-c|v|s|cr cl ecu|t] s|a|e cl
10/- eac| |rtc twc ecu|t] s|a|es cl 5/- eac|.
8orv|co 6ootract, sovoraoco Ioos aod oot|co por|od
Mr. ßov|od 8hr|khaodo, Maoag|og ß|roctor:
|e||cc cl ccrt|act |s 3 ]ea|s w.e.l. 29 Ju|], 2010. I|e|e |s rc sepa|ate p|cv|s|cr lc| pa]¤ert cl ar] seve|arce lees.
8haroho|dors' Iovostor ßr|ovaoco aod 8haro IraosIor 6omm|ttoo
I|e Cc¤par] |as ccrst|tutec t|e Cc¤¤|ttee |r t|e ]ea| 2001. I|e Cc¤¤|ttee |cc|s |rtc |ec|essa| cl s|a|e|c|ce|s' ç||evarces.
I|e Cc¤¤|ttee a|sc cve|sees t|e pe|lc|¤arce cl t|e Reç|st|a| arc S|a|e I|arsle| /çerts arc |ecc¤¤ercs ¤easu|es lc| cve|a||
|¤p|cve¤ert |r t|e cua||t] cl |rvestc| se|v|ces.
Du||rç t|e ]ea| 2010-11, t|e Cc¤¤|ttee ¤et t||ee t|¤es |.e. cr 7t| Va], 2010, 11t| Jure, 2010 arc 10t| Jarua|], 2011.
I|e Cc¤pcs|t|cr cl t|e Cc¤¤|ttee arc t|e attercarce cl t|e ¤e¤ue|s at t|e ¤eet|rç |e|c |s as lc||cws.
Namo oI Mombor 8tatus No. oI moot|ogs attoodod
V|. Rav| C. Ra|eja C|a||¤ar 2
V|. |ee| C. Ra|eja Ve¤ue| 2
V|. B. S. |açes| Ve¤ue| 3
V|. ||as|art Ve|ta, V|ce ||es|cert ÷ leça| c Cc¤par] Sec|eta|] cl t|e Cc¤par] |as ueer ces|çratec as t|e Cc¤p||arce 0ll|ce|.
Du||rç t|e ]ea|, t|e Cc¤par] |as |ece|vec 8 (e|ç|t} Cc¤¤ur|cat|cr/ç||evarce, w||c| we|e attercec arc |esc|vec tc t|e sat|slact|cr cl
t|e S|a|e|c|ce|s. |c ç||evarces we|e perc|rç at t|e ]ea| erc.
Corporate 6overuauce Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | c9
8ubs|d|ary 6ompao|os
Du||rç t|e ]ea|, |]pe|c|t] Reta|| (|rc|a} l|¤|tec ueca¤e cu| suus|c|a|] w.e.l. Jure 30, 2010. V|. Deepa| C|a|sas arc V|. ||t|r Sarç|av|,
|rcepercert c |cr-E·ecut|ve D||ectc|s cl t|e Cc¤par] a|e a|sc t|e D||ectc|s cl |]pe|c|t] Reta|| (|rc|a} l|¤|tec.
C|ause 19 cl Cc|pc|ate Ccve|rarce cel|res a '¤ate||a| rcr-||stec |rc|ar suus|c|a|]' as ar ur||stec suus|c|a|], |rcc|pc|atec |r |rc|a, w|cse
tu|rcve| c| ret wc|t| (|.e. pa|c-up cap|ta| arc l|ee |ese|ves} e·ceecs 20º cl t|e ccrsc||catec tu|rcve| c| ret wc|t| |espect|ve|], cl t|e
||stec |c|c|rç cc¤par] arc |ts suus|c|a||es |r t|e |¤¤ec|ate|] p|ecec|rç acccurt|rç ]ea|. |r t||s |eça|c, t|e Cc¤par] cces rct |ave ar]
¤ate||a| rcr-||stec |rc|ar suus|c|a|].
I|e Bca|c cl D||ectc|s cl t|e Cc¤par] |ev|ews eve|] cua|te| t|e l|rarc|a| state¤erts arc ¤|rutes cl Bca|c Veet|rçs cl ur||stec
suus|c|a|] cc¤par|es.
ßooora| ßody Moot|ogs
Deta||s cl /rrua| Cere|a| Veet|rçs |e|c cu||rç |ast t||ee ]ea|s.
AßM Ior
F|oaoc|a| ¥oar
oodod
ßato I|mo Iocat|oo 8poc|a| ßoso|ut|oos
passod thoroat
2009-2010 29 Ju|] 2010 3.00 p.¤. |at|cra| Stcc| E·c|arçe cl
|rc|a ltc., E·c|arçe ||ata, |SE
/uc|tc||u¤, C|curc ||cc|, Barc|a
Ku||a Cc¤p|e·, Barc|a (E},
Vu¤ua| - 100 051.
|c spec|a| |esc|ut|cr |as ueer passec.
2008-2009 29 Ju|] 2009 2.30 p.¤. R. D. |at|cra| Cc||eçe c
W. /. Sc|erce Cc||eçe,
(Cc||eçe /uc|tc||u¤},
l|r||rç Rcac, Barc|a (West},
Vu¤ua| - 100 050.
|c spec|a| |esc|ut|cr |as ueer passec.
2007-2008 29 Ju|] 2008 2.30 p.¤. R. D. |at|cra| Cc||eçe c
W. /. Sc|erce Cc||eçe,
(Cc||eçe /uc|tc||u¤},
l|r||rç Rcac, Barc|a (West},
Vu¤ua| - 100 050.
º /ppc|rt¤ert cl V|. Ccv|rc S|||||arce
as W|c|e-t|¤e D||ectc| lc| a pe||cc cl
3 ]ea|s w.e.l. Ju|] 29, 2009.
º E¤p|c]ee Stcc| 0pt|cr Sc|e¤e ÷
ES0|s tc e¤p|c]ees cl Cc¤par] arc
Suus|c|a||es.
º Vcc|l|cat|cr tc ea|||e| ES0|
Sc|e¤es.
º Rat|l|cat|cr cl R|ç|t |ssue cl s|a|es.
Fosta| ßa||ot
/s pe| Sect|cr 192/ cl t|e Cc¤par|es /ct, 195c cu||rç t|e ]ea| 2010-11, t|e lc||cw|rç spec|a| |esc|ut|crs we|e passec u] ¤e¤ue|s
t||cuç| pcsta| ua||ct cr Jure 21, 2010, 0ctcue| 27, 2010 arc Dece¤ue| 23, 2010. Deta||s cl t|e pcsta| ua||ct p|ccess lc||cwec |r
t|ese |eça|c a|e as urce|.
1. ßosu|ts oI Fosta| ßa||ot aooouocod oo Juoo 21, 2010.
/pp|cva| cl ¤e¤ue|s was scuç|t lc| lc||cw|rç Spec|a| Resc|ut|crs.
1. Va||rç |rvest¤ert |r secu||t|es u] suusc||pt|cr/pu|c|ase c| ct|e|w|se /|cars c| acvarces/çua|artee/secu||t](|es} etc. |r
|]pe|c|t] Reta|| (|rc|a} ltc, uptc ar e·tert cl 200 C|c|es urce| Sect|cr 372/ cl t|e Cc¤par|es /ct, 195c,
Corporate 6overuauce Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 70
2. Ic |arccve| arc c|spcse cll 'C|csswc|c' uus|ress tc C|csswc|c Bcc|stc|es l|¤|tec, a w|c||]-cwrec suus|c|a|] cl t|e Cc¤par]
urce| Sect|cr 293 (1}(a} cl t|e Cc¤par|es /ct, 195c, arc
3. Ic ce|ete t|e e·|st|rç /|t|c|e 150 ÷ 'Cc¤¤cr Sea|' cl t|e /|t|c|es cl /sscc|at|cr cl t|e Cc¤par] arc suust|tut|rç |t w|t| a rew
/|t|c|e urce| Sect|cr 31 cl t|e Cc¤par|es /ct, 195c,
vot|og Fattoro aod Frocoduro Ior Fosta| ßa||ot
1. I|e Bca|c cl D||ectc|s cl t|e Cc¤par] at |ts ¤eet|rç |e|c cr /p||| 28, 2010 appc|rtec V|. V. Surca|a¤, ||act|s|rç Cc¤par]
Sec|eta|] as a Sc|ut|r|te| lc| ccrcuct|rç t|e vct|rç t|cuç| |csta| Ba||ct.
2. /|| pcsta| ua||ct lc|¤s |ece|vec uptc Jure 19, 2010, t|e |ast cate lc| |ece|v|rç t|e pcsta| ua||ct lc|¤s l|c¤ s|a|e|c|ce|s we|e
ccrs|ce|ec lc| sc|ut|r]. Erve|cpes |ece|vec alte| t||s cate was rct ccrs|ce|ec lc| sc|ut|r].
3. I|e |esu|ts cl t|e |csta| Ba||ct was arrcurcec cr Jure 21, 2010 at t|e Reç|ste|ec 0ll|ce cl t|e Cc¤par]. I|e ceta||s cl vct|rç
a|e as lc||cws.
Fart|cu|ars
Io Iavour Aga|ost
Iota| No. oI
8haros
No. oI
Fosta| ßa||ot
Forms
No. oI
votos |o
Favour oI
%
No. oI
Fosta| ßa||ot
Forms
No. oI
votos
Aga|ost
%
Resc|ut|cr |c.1 239 30,383,302 99.98 9 133 0.02 30,383,735
Resc|ut|cr |c.2 238 30,383,339 99.98 10 39c 0.02 30,383,735
Resc|ut|cr |c.3 211 30,383,1c7 99.98 7 2c8 0.02 30,383,735
2. ßosu|ts oI Fosta| ßa||ot aooouocod oo 0ctobor 27, 2010.
/pp|cva| cl ¤e¤ue|s was scuç|t lc| lc||cw|rç Spec|a| Resc|ut|crs.
1. Ic appc|rt V|. Ccv|rc S|||||arce as a Varaç|rç D||ectc| cl t|e Cc¤par] ces|çratec as ' Custc¤e| Ca|e /sscc|ate c Varaç|rç
D||ectc| lc| a pe||cc 3 (t||ee} ]ea|s cc¤¤erc|rç l|c¤ Ju|] 29, 2010, arc
2. Ic c|arçe t|e ra¤e cl t|e Cc¤par] l|c¤ 'S|cppe|'s Stcp l|¤|tec' tc 'S|cppe|s Stcp l|¤|tec'.
vot|og Fattoro aod Frocoduro Ior Fosta| ßa||ot:
1. I|e Bca|c cl D||ectc|s cl t|e Cc¤par] at |ts ¤eet|rç |e|c cr Ju|] 29, 2010 appc|rtec V|. V. Surca|a¤, ||act|s|rç Cc¤par]
Sec|eta|] as a Sc|ut|r|te| lc| ccrcuct|rç t|e vct|rç t|cuç| |csta| Ba||ct.
2. /|| pcsta| ua||ct lc|¤s |ece|vec uptc 0ctcue| 2c, 2010, t|e |ast cate lc| |ece|v|rç t|e pcsta| ua||ct lc|¤s l|c¤ s|a|e|c|ce|s
we|e ccrs|ce|ec lc| sc|ut|r]. Erve|cpes |ece|vec alte| t||s cate we|e rct ccrs|ce|ec lc| sc|ut|r].
3. I|e |esu|ts cl t|e |csta| Ba||ct was arrcurcec cr 0ctcue| 27, 2010 at t|e Reç|ste|ec 0ll|ce cl t|e Cc¤par]. I|e ceta||s cl
vct|rç a|e as lc||cws.
Fart|cu|ars
Io Iavour Aga|ost
Iota| No.
oI 8haros
No. oI
Fosta| ßa||ot
Forms
No. oI
votos
%
No. oI
Fosta| ßa||ot
Forms
No. oI
votos
%
Resc|ut|cr |c. 1 170 31,120,315 100.00 1 3 ÷ 31,120,318
Resc|ut|cr |c. 2 1c8 31,120,2cc 100.00 3 52 ÷ 31,120,318
Corporate 6overuauce Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 71
3. ßosu|ts oI Fosta| ßa||ot aooouocod oo ßocombor 23, 2010.
/pp|cva| cl ¤e¤ue|s was scuç|t lc| lc||cw|rç Spec|a| Resc|ut|crs.
1. Ic app|cve suu-c|v|s|cr cl ecu|t] s|a|es cl lace va|ue cl 10/- eac| |rtc twc ecu|t] s|a|es cl 5/- eac|, arc
2. Ic a¤erc C|ause V cl t|e Ve¤c|arcu¤ cl /sscc|at|cr cl t|e Cc¤par] ccrsecuert tc alc|esa|c suu-c|v|s|cr.
vot|og Fattoro aod Frocoduro Ior Fosta| ßa||ot:
1. I|e Bca|c cl D||ectc|s cl t|e Cc¤par] at |ts ¤eet|rç |e|c cr 0ctcue| 29, 2010 appc|rtec V|. V. Surca|a¤, ||act|s|rç Cc¤par]
Sec|eta|] as a Sc|ut|r|te| lc| ccrcuct|rç t|e vct|rç t|cuç| |csta| Ba||ct.
2. /|| pcsta| ua||ct lc|¤s |ece|vec uptc Dece¤ue| 22, 2010, t|e |ast cate lc| |ece|v|rç t|e pcsta| ua||ct lc|¤s l|c¤ s|a|e|c|ce|s
we|e ccrs|ce|ec lc| sc|ut|r]. Erve|cpes |ece|vec alte| t||s cate we|e rct ccrs|ce|ec lc| sc|ut|r].
3. I|e |esu|ts cl t|e |csta| Ba||ct was arrcurcec cr Dece¤ue| 23, 2010 at t|e Reç|ste|ec 0ll|ce cl t|e Cc¤par]. I|e ceta||s cl
vct|rç a|e as lc||cws.
Fart|cu|ars
Io Iavour Aga|ost
Iota| No.
oI 8haros
No. oI
Fosta| ßa||ot
Forms
No. oI
votos
%
No. oI
Fosta| ßa||ot
Forms
No. oI
votos
%
Resc|ut|cr |c. 1 285 3c,12c,725 99.99 7 151 ÷ 3c,12c,87c
Resc|ut|cr |c. 2 283 3c,12c,cc5 99.99 9 211 ÷ 3c,12c,87c
4. Ihoro |s oo spoc|a| roso|ut|oo proposod to bo passod through Fosta| ßa||ot.
ß|sc|osuro oo mator|a||y s|go|I|caot ro|atod party traosact|oos
I|e|e we|e rc ¤ate||a||] |e|atec pa|t] t|arsact|crs t|at ¤a] |ave pctert|a| ccrl||ct w|t| t|e |rte|est cl t|e Cc¤par] at |a|çe. I|e
t|arsact|crs uetweer t|e Cc¤par] arc t|e |e|atec pa|t|es a|e c|sc|csec |r |ctes tc t|e /cccurts |r t|e /rrua| Repc|t.
ß|sc|osuro oI Accouot|og Iroatmoot
I|e l|rarc|a| state¤erts cl t|e Cc¤par] cc¤p|] w|t| t|e /cccurt|rç Starca|cs |ele||ec tc |r Sect|cr 211(3C} cl t|e Cc¤par|es
/ct, 195c.
ßoard ß|sc|osuros - ß|sk Maoagomoot
I|e Cc¤par] |as |a|c ccwr t|e |ecu|s|te p|ccecu|es tc |rlc|¤ t|e Bca|c Ve¤ue|s aucut t|e ||s| assess¤ert arc ¤|r|¤|sat|cr
p|ccecu|es w||c| a|e accc|c|rç|] lc||cwec.
ßota||s oI ooo-comp||aoco oo mattors ro|at|og to 6ap|ta| Markot
I|e|e |ave ueer rc |rstarces cl rcr-cc¤p||arces u] us arc rc pera|t|es arc/c| st||ctu|es |ave ueer |¤pcsec cr t|e Cc¤par] u] Stcc|
E·c|arçes c| SEB| c| ar] statutc|] aut|c||t] cr ar] ¤atte| |e|atec tc t|e cap|ta| ¤a||ets cu||rç t|e |ast t||ee ]ea|s.
6odo oI cooduct Ior Frovoot|oo oI Ios|dor Irad|og Fract|cos
|r cc¤p||arce w|t| t|e SEB| (||c||u|t|cr cl |rs|ce| I|ac|rç} Reçu|at|crs, 1992, as a¤ercec, t|e Cc¤par] |as lc|¤u|atec, accptec arc
|¤p|e¤ertec 'S|cppe|s Stcp Ccce cl ccrcuct lc| p|evert|cr cl |rs|ce| I|ac|rç' |r t|e s|a|es cl t|e Cc¤par].
Wh|st|o ß|owor Fo||cy
I|e W||st|e B|cwe| |c||c] a|¤s tc erccu|açe a|| e¤p|c]ees tc |rlc|¤ t|e Cc¤par] |eça|c|rç ar] ||rc cl ¤|suse cl Cc¤par] p|cpe|t],
¤|s¤araçe¤ert c| w|crçlu| ccrcuct p|eva|||rç |r t|e Cc¤par] arc rc pe|scrre| |as ueer cer|ec access t|e|etc. I|e c|sc|csu|e wcu|c
Corporate 6overuauce Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 72
ue sert tc t|e C|a||¤ar cl t|e /uc|t Cc¤¤|ttee/t|e Et||cs Ccurse|c| w|c wcu|c |rvest|çate arc |ecc¤¤erc tc t|e ¤araçe¤ert cl t|e
Cc¤par] tc ta|e suc| c|sc|p||ra|] c| cc||ect|ve act|cr as ¤a] ue cee¤ec l|t.
6omp||aoco w|th ooo-maodatory roqu|romoots oI 6|auso 49 oI tho ||st|og agroomoot.
I|e Cc¤par] |as vc|urta|||] cc¤p||ec w|t| t|e rcr-¤arcatc|] |ecu||e¤erts |e|at|rç tc Re¤ure|at|cr Cc¤¤|ttee arc w||st|e
u|cwe| pc||c].
Maoagomoot ß|scuss|oo aod Aoa|ys|s
Varaçe¤ert D|scuss|cr arc /ra|]s|s |s ç|ver as a sepa|ate sect|cr |r t|e /rrua| Repc|t.
Frocoods Irom pub||c |ssuos
I|e Cc¤par] |as c|sc|csec t|e uses arc app||cat|cr cl lurcs |a|sec t||cuç| a puu||c |ssue tc t|e /uc|t Cc¤¤|ttee cr a cua|te||] uas|s
as a pa|t cl t|e|| cua|te||] cec|a|at|cr cl l|rarc|a| |esu|ts.
Moaos oI 6ommuo|cat|oo
º I|e cua|te||] |esu|ts a|e puu||s|ec w|t||r 18 |cu|s cl t|e Bca|c Veet|rç, |r p|c¤|rert ca||] rewspape|s v|t. Eccrc¤|c I|¤es arc
Va|a|as|t|a I|¤es arc t|e sa¤e a|e a|sc pcstec cr t|e Cc¤par]'s weus|te |¤¤ec|ate|]. /t t|e erc cl eac| cua|te|, t|e Cc¤par]
cces a Ccrle|erce ca|| w|t| t|e ara|]sts |r c|ce| tc c|a||l] t|e|| ccuuts arc cue||es.
º I|e cc¤a|r ra¤e cl t|e Cc¤par]'s weus|te |s www.s|cppe|sstcp.cc¤ arc uptc cate l|rarc|a| |esu|ts, cll|c|a| p|ess |e|eases arc
t|e ct|e| |rlc|¤at|cr aucut t|e Cc¤par] arc |ts uus|resses a|e ava||au|e cr t|e weus|te.
º ||esertat|crs ¤ace tc t|e |rst|tut|cra| |rvestc|s c| tc t|e ara|]sts a|e |¤¤ec|ate|] pcstec cr Cc¤par]'s weus|te |r c|ce| tc s|a|e
t|e |rlc|¤at|cr w|t| puu||c at |a|çe.
ßooora| 8haroho|dors IoIormat|oo
(1} /rrua| Cere|a| Veet|rç.
Date, I|¤e c Verue . 2c Ju|] 2011 at 3.00 p.¤.
. E·c|arçe ||ata, |SE /uc|tc||u¤, C|curc ||cc|,
Barc|a-Ku||a Cc¤p|e·, Barc|a (East}, Vu¤ua| 100 051.
(2} ||rarc|a| Ca|erca| . 1 /p||| 2010 tc 31 Va|c| 2011
(3} Date cl Bcc| C|csu|e . 19 Ju|] 2011 tc 2c Ju|] 2011 (Bct| ca]s |rc|us|ve}.
(1} D|v|cerc |a]¤ert Date . 28 Ju|] 2011
(5} l|st|rç cr t|e Stcc| E·c|arçes . 1. Bc¤ua] Stcc| E·c|arçe l|¤|tec
||||cte Jeejeeu|c] Icwe|s, Da|a| St|eet, Vu¤ua| - 100 001.
2. |at|cra| Stcc| E·c|arçe cl |rc|a ltc.
E·c|arçe ||ata, Barc|a-Ku||a Cc¤p|e·,
Barc|a (East}, Vu¤ua| - 100 051.
I|e |ecu|s|te l|st|rç |ees lc| t|e l|rarc|a| ]ea| 2011-2012 |as ueer pa|c tc uct| t|e aucve Stcc| E·c|arçes w|e|e t|e ecu|t] s|a|es cl
t|e Cc¤par] a|e ||stec.
(c} Stcc| Ccce
Bc¤ua] Stcc| E·c|arçe l|¤|tec . 532c38
|at|cra| Stcc| E·c|arçe cl |rc|a ltc. . S|0|ERSI0| (S]¤uc|}
Corporate 6overuauce Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 73
(7} 8tock Markot ßata Ior tho por|od - 1 Apr|| 2010 to 31 March 2011
8haro pr|co porIormaoco |o compar|soo oo ß8E:
Mooth (2010-11}
ß8E 8oosox No. oI 8haros
traosactod h|gh ( } Iow ( } h|gh Iow
/p||| 181.15 375.05 18,017.8c 17,27c.80 3c9,810
Va] 117.90 370.00 17,53c.8c 15,9c0.15 209,258
Jure 581.80 118.00 17,919.c2 1c,318.39 955,c08
Ju|] ccc.25 511.00 18,237.5c 17,395.58 1,893,029
/uçust 738.70 585.20 18,175.27 17,819.99 58c,171
Septe¤ue| 719.20 c10.00 20,2c7.98 18,027.12 519,183
0ctcue| 711.00 c39.90 20,851.55 19,7c8.9c 571,232
|cve¤ue| 752.00 c15.c5 21,108.c1 18,951.82 121,c71
Dece¤ue| 775.80 cc1.00 20,552.03 19,071.57 72,225
'Jarua|] 792.00 (Belc|e suu-c|v|s|cr} 320.00 20,cc1.80 18,038.18 258,271
'|eu|ua|] 3c8.55 2c1.00 18,c90.97 17,295.c2 105,581
'Va|c| 3c1.90 301.20 19,575.1c 17,792.17 110,151
' /lte| suu-c|v|s|cr cl lace va|ue cl Ecu|t] s|a|e l|c¤ 10/- eac| tc 5/- eac|.
8hoppors 8top Fr|co Movomoot 6hart - ß8E
150
250
350
450
550
650
750
Mar Feb Jan Dec Nov Oct Sept Aug July June May Apr
A
m
o
u
n
t
(
`
)
S
e
n
s
e
x
Financial Year 2010-11
Shoppers Stop
Sensex
16000
16500
17000
17500
18000
18500
19000
19500
20000
20500
(/cjustec tc ellect suu-c|v|s|cr cl lace va|ue cl Ecu|t] s|a|e l|c¤ 10/- eac| tc 5/- eac|}.
8haro pr|co porIormaoco |o compar|soo oo N8E:
Mooth (2010-11}
N8E N|Ity
No. oI 8haros
traosactod
h|gh ( } Iow ( } h|gh Iow
/p||| 111.10 375.00 5,399.c5 5,1c0.90 228,5c8
Va] 117.80 352.c5 5,278.70 1,78c.15 381,599
Jure 590.00 113.00 5,3cc.75 1,9c1.05 1,93c,1c1
Ju|] ccc.50 515.00 5,177.50 5,225.c0 1,112,cc1
/uçust 7c8.00 592.50 5,519.80 5,318.90 1,939,109
Septe¤ue| 719.10 c11.00 c,073.50 5,103.05 1,725,192
0ctcue| 713.35 c51.00 c,281.10 5,937.10 1,2c7,901
|cve¤ue| 713.90 c72.15 c,338.50 5,c90.35 c05,ccc
Dece¤ue| 775.90 570.00 c,117.30 5,721.15 1c3,31c
'Jarua|] 787.00 (Belc|e suu-c|v|s|cr} 302.30 c,181.05 5,11c.c5 1,158,55c
'|eu|ua|] 3c8.c0 2c1.05 5,599.25 5,177.70 537,00c
'Va|c| 392.00 305.05 5,872.00 5,318.20 528,c17
' /lte| suu-c|v|s|cr cl lace va|ue cl Ecu|t] s|a|e l|c¤ 10/- eac| tc 5/- eac|.
Corporate 6overuauce Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 71
8hoppors 8top Fr|co Movomoot 6hart - N8E
250
350
450
550
650
750
Mar Feb Jan Dec Nov Oct Sept Aug July June May Apr
3500
4000
4500
5000
5500
6000
6500
A
m
o
u
n
t
(
`
)
N
i
f
t
y
Financial Year 2010-11 Shoppers Stop
Nifty
(/cjustec tc ellect suu-c|v|s|cr cl lace va|ue cl Ecu|t] s|a|e l|c¤ 10/- eac| tc 5/- eac|}.
(8} ß|str|but|oo oI 8haroho|d|og as oo 31 March 2011 aod 31 March 2010:
8haroho|d|og oI
Nom|oa| va|uo
As oo March 31, 2011 As oo March 31, 2010
8haroho|dors % to tota| 8haroho|dors % to tota|
ßupoos Numbor % to
tota|
ßupoos % to
tota|
Numbor % to
tota|
ßupoos % to
tota|
uptc 5000 7,121 9c.93 2,c11,310 0.c1 7,995 9c.8c 3,177,7c0 1.00
5001-10000 55 0.75 150,775 0.11 82 0.99 c15,110 0.18
10001-20000 37 0.50 527,885 0.13 12 0.51 580,300 0.17
20001-30000 23 0.31 575,115 0.11 33 0.10 853,890 0.21
30001-10000 12 0.17 111,115 0.10 13 0.1c 1c1,080 0.13
10001-50000 c 0.08 281,1c0 0.07 9 0.11 117,720 0.12
50001-100000 17 0.23 1,315,305 0.33 18 0.22 1,151,810 0.12
100001 arc aucve 7c 1.03 101,597,915 98.18 c2 0.75 311,252,710 97.71
Iota| 7,350 100.00 410,834,180 100.00 8,254 100.00 349,143,440 100.00
8haroho|d|og Fattoro
I|e cateçc||es cl s|a|e|c|c|rçs as cr 31 Va|c| 2011 arc 31 Va|c| 2010.
6atogory
As oo March 31, 2011 As oo March 31, 2010
No. oI
8haros ho|d
% to tota| No. oI
8haros ho|d
% to tota|
||c¤cte|s 5c,029,c71 c8.19 23,921,181 c8.51
Vutua| |urcs 5,190,130 c.32 3,c9c,138 10.59
||rarc|a| |rst|tut|cr 0 0 138,050 0.10
|c|e|çr |rst|tut|cra| |rvestc|s 10,813,521 13.1c 1,70c,9c1 1.89
Cc|pc|ate Bcc|es 7,279,731 8.8c 2,729,0c5 7.81
|rc|ar |uu||c c |u| 2,829,587 3.11 2,c81,901 7.c9
Bar|s 0 0 2,000 0.01
|R|'s c 0CB's 15,12c 0.02 8,251 0.02
C|ea||rç Ve¤ue|s (I|ars|t} 8,757 0.01 27,18c 0.08
I|ust 1 0.00 2 0.00
Iota| 82,166,836 100.00 34,914,344 100.00
Corporate 6overuauce Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 75
I|e Bca|c cl D||ectc|s arc s|a|e|c|ce|s cl t|e Cc¤par] at t|e|| ¤eet|rçs |e|c cr 0ctcue| 29, 2010 arc Dece¤ue| 23, 2010 |espect|ve|]
|ac app|cvec suu-c|v|s|cr cl ecu|t] s|a|e cl 10/- eac| |rtc twc ecu|t] s|a|es cl 5/- eac|. I|e Cc¤par] l|·ec Jarua|] 13, 2011 as
t|e Recc|c Date, lc| t|e sa|c suu-c|v|s|cr arc as cr cate, t|e ecu|t] s|a|es cl t|e cc¤par] we|e suu-c|v|cec.
8haroho|d|og oI ßoard oI ß|roctors as oo 31 March 2011:
Namo oI ß|roctor 8tatus No. oI 8haros
V|. C|arc|u l. Ra|eja ||c¤cte| D||ectc| c,97,500
V|. Rav| C. Ra|eja ||c¤cte| D||ectc| 11,00,000
V|. |ee| C. Ra|eja ||c¤cte| D||ectc| 11,50,000
V|. Cu|u l. V||c|arcar| D||ectc| 1,000
V|. S|a|taac S. Da|a| D||ectc| 2,000
||cl. ||t|r Sarç|av| D||ectc| 0
V|. Deepa| C|a|sas' D||ectc| 7,750
V|. B. S. |açes| V|ce C|a||¤ar c,12,788
V|. Ccv|rc S|||||arce Varaç|rç D||ectc| 1,12,038
V|. |||v|| S|rç| D||ectc| 0
' V|. Deepa| C|a|sas |c|cs 7,750 Ecu|t] S|a|es jc|rt|] w|t| ||s w|le as seccrc |c|ce|.
(9} Reç|st|a| arc I|arsle| /çert . Ka|v] Cc¤pute|s|a|e |||vate l|¤|tec
||ct |c. 17-21, V|tt|a| Rac |aça|, Vac|apu|, |]ce|auac - 500 081, (|rc|a}.
Ie|. ÷91-10 2312 0818, |a·. ÷91-10 2312 0811
(10} S|a|e I|arsle| S]ste¤ . I|e s|a|es cl t|e Cc¤par] a|e t|acec cr t|e Stcc| E·c|arçes t||cuç| t|e Depcs|tc|] S]ste¤.
I|e |S|| a||cttec tc t|e ecu|t] s|a|es cl 5/- eac| cl t|e Cc¤par] |s ||E198B01021.
I|e |ecuest |ece|vec u] t|e Cc¤par]/RI/ lc| ce¤ate||a||sat|cr/|e¤ate||a||sat|cr a|e c|spcsec
cll e·pec|t|cus|]. S|a|e ce|t|l|cates cu|] ercc|sec a|e |ssuec tc t|e s|a|e|c|ce|s, w|c cpt lc| t|e
s|a|es |r t|e p|]s|ca| lc|¤.
(11} De¤ate||a||sat|cr cl s|a|es . I|e t|ac|rç |r Cc¤par]'s ecu|t] s|a|es |s cc¤pu|sc|||] |r ce¤ate||a||sec ¤cce lc| a|| |rvestc|s.
arc ||cu|c|t] /s cr cate, ert||e s|a|e cap|ta| cl t|e Cc¤par] e·cept 2,358 ecu|t] s|a|es a|e ue|rç |e|c |r t|e
p|]s|ca| ¤cce.
I|e s|a|es cl t|e Cc¤par] a|e |eçu|a||] t|acec at uct| t|e Stcc| E·c|arçes w|e|e t|e] a|e
||stec, w||c| ersu|e t|e recessa|] ||cu|c|t] tc s|a|e|c|ce|s.
(12} 0utstarc|rç CDRs//DRs/ . I|e Cc¤par] |as rct |ssuec ar] /DR c| CDR c| wa||arts c| ar] ccrve|t|u|e |rst|u¤erts,
Wa||arts c| ar] Ccrve|t|u|e w||c| |as |||e|] |¤pact cr ecu|t] s|a|e cap|ta|.
|rst|u¤erts
(13} /cc|ess lc| cc||espcrcerce . V|. ||as|art Ve|ta
V|ce ||es|cert ÷ leça| c Cc¤par] Sec|eta|]
Eu|e|a Icwe|s, B-W|rç, 9t| ||cc|, V|rcspace, l|r| Rcac, Va|ac (W}, Vu¤ua| - 100 0c1.
Ie|. (022} 1219 7000
E-¤a|| |D . |rvestc|_s|cppe|sstcp.cc¤
Weu /cc|ess. www.s|cppe|sstcp.cc¤
Corporate 6overuauce Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 7c
(11} Stc|e lccat|crs . Wostoro ßog|oo
1. 211-D, S. V. Rcac, /rc|e|| (W}, Vu¤ua| - 100 058
2. K|us|a| Cc¤¤e|c|a| Cc¤p|e·, C. V. Rcac, C|e¤uu| (W}, Vu¤ua| - 100 089
3. Suuu|u|a, 0|c Barc|a Ia|||es, l|r||rç Rcac, Barc|a (West}, Vu¤ua| - 100 050
1. |a¤ar ||ata, 11, S. V. Rcac, 0pp. S|ar|a| lare, Karc|va|| (W}, Vu¤ua| - 100 0c7
5. |||¤a| l|lest]|es, l. B. S. Va|ç, Vu|urc (W}, Vu¤ua| - 100 080
c. |rc|u|t Va||, ||ct rc. 110c-/, 28//, l|r| Rcac, Va|ac (W}, Vu¤ua| - 100 0c1
7. D]ra¤|· Va||, Sart D|]ares|wa| Va|ç, JV|D Sc|e¤e, |e·t tc C|arcar C|re¤a |a||,
V||e |a||e (W}, Vu¤ua| - 100 019
8. Ccc|ej Ete|r|a, B-W|rç, S||vaj| |aça|, Vu¤ua|-|ure Rcac, |ure - 111 005
9. |uc|eus Va||, 1 C|u|c| Rcac, |ure - 111 001
10. |c¤eStcp, |rc|u|t Va||, 2rc ||cc|, l|r| Rcac, Va|ac (W}, Vu¤ua| - 100 0c1
11. ||ctcre Va||, ||ct Sectc|-C, C|||a|t|ara |rcust||a| /|ea, Vasartpu|,
/u|arçauac - 131 210
12. |rc|u|t Va||, ||ct rc. 39/1, Vas||, |av| Vu¤ua| - 100 705
13. |c¤eStcp, |rc|u|t Va||, 2rc ||cc|, Sectc| |c. 30 /, Vas||, |av| Vu¤ua| - 100 705
8outhoro ßog|oo
1. Ca|uca Sta| Va||, Vaç|at| Rcac, /s|c| |aça|, Berça|u|u - 5c0 025
2. Cc¤¤e|ce_Vart||, C|curc ||cc|, |. S. |a|]a, Barre|ç|atta Rcac, Berça|u|u - 5cc 07c
3. 1, Sa¤p|çe Rcac, |e·t tc Vart|| C|eers, Belc|e Sa¤p|çe I|eat|e, Va||es|wa|a¤,
Berça|u|u - 5c0 003
1. Sa|a|pu||]a Icwe| - ||, |ea| |c|u¤ Va||, Wa|c |c. c3, Kc|¤arça|a |rc|. la]cut,
Berça|u|u ÷ 5c0 095.
5. ||ct |c. 1-11-251/1, /||ac|r Vars|cr, Beçu¤pet, |]ce|auac - 500 01c
c. |c. 2, |a|||rçtcr Rcac, C|etpet, C|erra| - c00 031
7. CVK 0re Va||, Rcac |c. 01, Barja|a ||||s, |]ce|auac - 500 031
8. |rc|u|t Va||, /p||c Scltwa|e la]cut, ||tec| C|t], C]ue|auac, |]ce|auac - 500 081
9. CVR |]ce|auac |rte|rat|cra| /||pc|t ltc., leve| - D, |asserçe| Ie|¤|ra| Bu||c|rç,
S|a¤s|auac /||pc|t, Rarça|ecc], D|st||ct - 500 109
10. |asserçe| Ie|¤|ra| Bu||c|rç, Berça|u|u |rte|rat|cra| /||pc|t,
Devara|a|||, Berça|u|u - 5c0 300.
11. |c¤eStcp, Ra|eja |c|rt |c. 17/2, Vaç|at| Rcac, Berça|u|u - 5c0 025
Northoro ßog|oo
1. Cau|av Icwe|s 2 , ||ct |c. 2, |rc||a |a|ace, Va|v|]a |aça|, Ja|pu| - 302 017
2. /rsa| ||ata, |uccc |a|ace, /rc|ews Carj, K|e|çacr Va|ç, |ea| Scut| E·ters|cr,
|ew De||| - 110 019
3. I|e Vet|cpc||tar Va||, Ve||au||-Cu|çacr Rcac, Cu|çacr, |a|]ara - 122 002
Corporate 6overuauce Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 77
1. S||p|a Va||, S||p|a Surc|t], 9 Va|u|av K|arc, |rc||apu|a¤, C|at|auac - 201 012
5. |c¤eStcp, ||ct |c. //3, Se|ect C|t] Wa||, D|st||ct Cert|e, Sa|et, |ew De||| - 110 017
c. E-C|t] Va||, 0pp. |a|]atar B|avar, Bes|ce E|cecc C|eer Cc¤pcurc,
Cc¤t| |aça|, luc|rcw - 22c 010
7. E|cs Va||, ||ct rc. 10, S||vaj| |a|ace, D|st||ct Cert|e, Rajcu|| Ca|cer,
Be||rc V|s|a| C|re¤a Cc¤p|e·, Rajcu||, |ew De||| - 110 027
8. I|e C|eat |rc|a |a|ace, ||ct |c.2, Sectc| 38-/, |ew 0|||a |rcust||a| Deve|cp¤ert /|ea,
D|st||ct - Cauta¤ Buc| |aça|, |c|ca, utta| ||aces| - 201301
9. Vet|cpc||tar Va||, ||ess Erc|ave Rcac, D|st||ct Cert|e Sa|et, Sectc| ||, |ew De||| - 110 017
10. Surc|t] I||tcr Va||, |ea| B|awar| |||etar Cc||eçe, 0ll S||a| Rcac, C|c¤u C||c|e,
V|||açe Bass|, S|ta|a¤pu|a, Ie|s|| Sawa|, Ja|pu| - 302 012
11. /|p|a 0re Va||, VB| |a|¤, Su|tar W|rc, Va|r C. I. Rcac, /¤||tsa| - 113 010
12. /¤u|erce Va||, |e|scr Varce|a Rcac, Vasart Kurj, |ew De||| - 110 070
13. DB C|t] Va||, /|e|a ||||s, B|cpa| - 1c2 011
Eastoro ßog|oo
1. 10/3, la|a lajpat Ra| Sa|ar| (E|ç|r Rcac}, Kc||ata - 700 020
2. C|t] Cert|e, DC-1, Sectc|-1, Sa|t la|e, Kc||ata - 700 0c1
3. Scut| C|t] Va||, 375, |||rce /rwa| S|a| Rcac, 0pp. Jcc|pu| |a||, Kc||ata - 700 0c8.
1. Jurct|cr Va||, Vcuta ÷ |a||cpu|, J. l. |c. 71, C|t] Cert|e, Du|çapu| - 713 21c.
5. C|t] Cert|e,S|||çu|| uttc|a]cr Icwrs||p, || - 31, Vat|ça|a, S|||çu|| - 731 010
Corporate 6overuauce Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 78
Io,
Iho Mombors oI 8hoppors 8top I|m|tod
1. We |ave auc|tec t|e attac|ec Ba|arce S|eet cl S|cppe|s Stcp l|¤|tec ('t|e Cc¤par]'} as at 31 Va|c| 2011, t|e ||cl|t arc lcss
/cccurt arc t|e Cas| ||cw State¤ert cl t|e Cc¤par] lc| t|e ]ea| ercec cr t|at cate, uct| arre·ec t|e|etc. I|ese l|rarc|a|
state¤erts a|e t|e |espcrs|u|||t] cl t|e Cc¤par]'s Varaçe¤ert. 0u| |espcrs|u|||t] |s tc e·p|ess ar cp|r|cr cr t|ese l|rarc|a|
state¤erts uasec cr cu| auc|t.
2. We ccrcuctec cu| auc|t |r accc|carce w|t| auc|t|rç starca|cs çere|a||] acceptec |r |rc|a. I|cse Starca|cs |ecu||e t|at we p|ar
arc pe|lc|¤ t|e auc|t tc cuta|r |eascrau|e assu|arce aucut w|et|e| t|e l|rarc|a| state¤erts a|e l|ee cl ¤ate||a| ¤|sstate¤erts.
/r auc|t |rc|uces e·a¤|r|rç, cr a test uas|s, ev|cerce suppc|t|rç t|e a¤curts arc t|e c|sc|csu|es |r t|e l|rarc|a| state¤erts. /r
auc|t a|sc |rc|uces assess|rç t|e acccurt|rç p||rc|p|es usec arc t|e s|çr|l|cart est|¤ates ¤ace u] t|e Varaçe¤ert, as we|| as
eva|uat|rç t|e cve|a|| l|rarc|a| state¤ert p|esertat|cr. We ue||eve t|at cu| auc|t p|cv|ces a |eascrau|e uas|s lc| cu| cp|r|cr.
3. /s |ecu||ec u] t|e Cc¤par|es (/uc|tc|'s Repc|t} 0|ce|, 2003 |ssuec u] t|e Cert|a| Ccve|r¤ert cl |rc|a |r te|¤s cl Sect|cr
227(1/} cl t|e Cc¤par|es /ct, 195c, we erc|cse |r t|e /rre·u|e a state¤ert cr t|e ¤atte|s spec|l|ec |r pa|aç|ap|s 1 arc 5 cl
t|e sa|c 0|ce|.
1. |u|t|e| tc cu| cc¤¤erts |r t|e /rre·u|e |ele||ec tc |r pa|aç|ap| 3 aucve, we |epc|t as lc||cws.
(a} we |ave cuta|rec a|| t|e |rlc|¤at|cr arc e·p|arat|crs w||c| tc t|e uest cl cu| |rcw|ecçe arc ue||el we|e recessa|] lc| t|e
pu|pcses cl cu| auc|t,
(u} |r cu| cp|r|cr, p|cpe| ucc|s cl acccurt as |ecu||ec u] |aw |ave ueer |ept u] t|e Cc¤par] sc la| as |t appea|s l|c¤ cu|
e·a¤|rat|cr cl t|cse ucc|s,
(c} t|e Ba|arce S|eet, t|e ||cl|t arc lcss /cccurt arc t|e Cas| ||cw State¤ert cea|t w|t| u] t||s |epc|t a|e |r aç|ee¤ert w|t|
t|e ucc|s cl acccurt,
(c} |r cu| cp|r|cr, t|e Ba|arce S|eet, t|e ||cl|t arc lcss /cccurt arc t|e Cas| ||cw State¤ert cea|t w|t| u] t||s |epc|t a|e |r
cc¤p||arce w|t| t|e /cccurt|rç Starca|cs |ele||ec tc |r Sect|cr 211(3C} cl t|e Cc¤par|es /ct, 195c,
(e} W|t|cut cua||l]|rç cu| cp|r|cr, attert|cr |s |rv|tec tc |cte 21 cl t|e ||rarc|a| State¤erts |eça|c|rç rcr-p|cv|s|cr cl se|v|ce
ta· lc| t|e pe||cc 1 Jure 2007 tc 31 Va|c| 2010 cr |ert|rç cl |¤¤cveau|e p|cpe|t|es ç|ver lc| cc¤¤e|c|a| use, açç|eçat|rç
1,c19 |acs. I|e |et|cspect|ve |ev] cl se|v|ce ta· |as, |rte|-a||a, ueer c|a||erçec u] t|e Cc¤par] |r va||cus ||ç| Ccu|ts arc
ar |rte||¤ sta] |as ueer ç|artec u] t|e va||cus ||ç| Ccu|ts l|c¤ t|e |eccve|] cl t|e sa|c se|v|ce ta·. I|e ¤atte| |s ccrt|rçert
upcr t|e l|ra| cutcc¤e cl t|e ||t|çat|cr.
(l} |r cu| cp|r|cr arc tc t|e uest cl cu| |rlc|¤at|cr arc accc|c|rç tc t|e e·p|arat|crs ç|ver tc us, t|e sa|c acccurts ç|ve t|e
|rlc|¤at|cr |ecu||ec u] t|e Cc¤par|es /ct, 195c |r t|e ¤arre| sc |ecu||ec arc ç|ve a t|ue arc la|| v|ew |r ccrlc|¤|t] w|t| t|e
acccurt|rç p||rc|p|es çere|a||] acceptec |r |rc|a.
(|} |r t|e case cl t|e Ba|arce S|eet, cl t|e state cl alla||s cl t|e Cc¤par] as at 31 Va|c| 2011,
(||} |r t|e case cl t|e ||cl|t arc lcss /cccurt, cl t|e p|cl|t cl t|e Cc¤par] lc| t|e ]ea| ercec cr t|at cate arc
(|||} |r t|e case cl t|e Cas| ||cw State¤ert, cl t|e cas| l|cws cl t|e Cc¤par] lc| t|e ]ea| ercec cr t|at cate.
5. 0r t|e uas|s cl w||tter |ep|esertat|crs |ece|vec l|c¤ t|e D||ectc|s as cr 31 Va|c| 2011 arc ta|er cr |ecc|c u] t|e Bca|c cl
D||ectc|s, rcre cl t|e D||ectc|s |s c|scua||l|ec as cr 31 Va|c| 2011 l|c¤ ue|rç appc|rtec as a c||ectc| |r te|¤s cl Sect|cr 271(1}(ç}
cl t|e Cc¤par|es /ct, 195c.
For ßo|o|tto hask|os 8 8o||s,
C|a|te|ec /cccurtarts
(Reç|st|at|cr |c. 1173ccW}
8hyamak ß. Iata
|a|tre|
Ve¤ue|s||p |c. 38320
||ace. Vu¤ua|
Date. 29 /p|||, 2011
Auditors' Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 79
(ßoIorrod to |o paragraph (3} thorooI}
|r cu| cp|r|cr arc accc|c|rç tc t|e |rlc|¤at|cr arc e·p|arat|cr ç|ver tc us, t|e ratu|e cl t|e Cc¤par]'s uus|ress/act|v|t|es cu||rç t|e
]ea| a|e suc| t|at c|auses (v|}, (v|||}, (·}, (·||}, (·|||}, (·|v} arc (·|·} cl Cc¤par|es (/uc|tc|s' Repc|t} 0|ce| 2003, a|e rct app||cau|e tc t|e
Cc¤par]. |r |espect cl t|e ct|e| c|auses, we |epc|t as urce|.
1. |r |espect cl |ts l|·ec assets.
(a} I|e Cc¤par] |as ¤a|rta|rec p|cpe| |ecc|cs s|cw|rç lu|| pa|t|cu|a|s, |rc|uc|rç cuart|tat|ve ceta||s arc s|tuat|cr cl t|e
l|·ec assets.
(u} Sc¤e cl t|e l|·ec assets we|e p|]s|ca||] ve||l|ec cu||rç t|e ]ea| u] t|e Varaçe¤ert |r accc|carce w|t| a p|cç|a¤¤e
cl ve||l|cat|cr, w||c|, |r cu| cp|r|cr, p|cv|ces lc| p|]s|ca| ve||l|cat|cr cl a|| t|e l|·ec assets at |eascrau|e |rte|va|s.
/ccc|c|rç tc t|e |rlc|¤at|cr arc e·p|arat|crs ç|ver tc us, rc ¤ate||a| c|sc|eparc|es we|e rct|cec cr suc| ve||l|cat|cr.
(c} Du||rç t|e ]ea|, |r cu| cp|r|cr, a suustart|a| pa|t cl l|·ec assets |as rct ueer c|spcsec cll u] t|e Cc¤par].
2. |r |espect cl |ts |rvertc|].
(a} /s e·p|a|rec tc us, t|e |rvertc||es we|e p|]s|ca||] ve||l|ec cu||rç t|e ]ea| u] t|e Varaçe¤ert at |eascrau|e |rte|va|s.
(u} |r cu| cp|r|cr arc accc|c|rç tc t|e |rlc|¤at|cr arc e·p|arat|crs ç|ver tc us, t|e p|ccecu|es cl p|]s|ca| ve||l|cat|cr cl
|rvertc||es lc||cwec u] t|e Varaçe¤ert we|e |eascrau|e arc acecuate |r |e|at|cr tc t|e s|te cl t|e Cc¤par] arc t|e
ratu|e cl |ts uus|ress.
(c} |r cu| cp|r|cr arc accc|c|rç tc t|e |rlc|¤at|cr arc e·p|arat|crs ç|ver tc us, t|e Cc¤par] |as ¤a|rta|rec p|cpe| |ecc|cs
cl |ts |rvertc||es arc rc ¤ate||a| c|sc|eparc|es we|e rct|cec cr p|]s|ca| ve||l|cat|cr.
3. I|e cc¤par] |as rct ta|er ar] |cars, secu|ec c| ursecu|ec, l|c¤ cc¤par|es, l||¤s c| ct|e| pa|t|es ||stec |r t|e Reç|ste| ¤a|rta|rec
urce| Sect|cr 301 cl t|e Cc¤par|es /ct, 195c. |r |espect cl |cars, secu|ec c| ursecu|ec, ç|artec u] t|e Cc¤par] tc cc¤par|es,
l||¤s c| ct|e| pa|t|es ccve|ec |r t|e Reç|ste| ¤a|rta|rec urce| Sect|cr 301 cl t|e Cc¤par|es /ct, 195c, accc|c|rç tc t|e |rlc|¤at|cr
arc e·p|arat|crs ç|ver tc us.
(a} I|e cc¤par] |as ç|artec ursecu|ec |cars tc cre pa|t] cu||rç t|e ]ea|. /t t|e ]ea|-erc, t|e cutstarc|rç ua|arce cl suc|
|cars açç|eçatec 12,5c5.51 |acs arc t|e ¤a·|¤u¤ a¤curt |rvc|vec cu||rç t|e ]ea| was 13,c85.15 |acs.
(u} I|e |ate cl |rte|est arc ct|e| te|¤s arc ccrc|t|crs cl suc| |cars a|e, |r cu| cp|r|cr, c·¬- |-.- rct p|ejuc|c|a| tc t|e
|rte|ests cl t|e Cc¤par].
(c} I|e pa]¤ert cl p||rc|pa| arc |rte|est |r |espect cl suc| |cars a|e as pe| st|pu|at|crs.
(c} I|e|e a|e rc cve|cue a¤curts cl p||rc|pa| c| |rte|est as at 31 Va|c| 2011.
1. |r cu| cp|r|cr arc accc|c|rç tc t|e |rlc|¤at|cr arc e·p|arat|crs ç|ver tc us, t|e|e |s ar acecuate |rte|ra| ccrt|c| s]ste¤
cc¤¤ersu|ate w|t| t|e s|te cl t|e Cc¤par] arc t|e ratu|e cl |ts uus|ress w|t| |eça|c tc pu|c|ases cl |rvertc|] arc l|·ec assets
arc t|e sa|e cl çcccs arc se|v|ces. Du||rç t|e ccu|se cl cu| auc|t, we |ave rct cuse|vec ar] ¤ajc| wea|ress |r t|e alc|esa|c
|rte|ra| ccrt|c| s]ste¤s.
5. |r |espect cl ccrt|acts c| a||arçe¤erts erte|ec |r t|e Reç|ste| ¤a|rta|rec |r pu|suarce cl Sect|cr 301 cl t|e Cc¤par|es /ct, 195c,
tc t|e uest cl cu| |rcw|ecçe arc ue||el arc accc|c|rç tc t|e |rlc|¤at|cr arc e·p|arat|crs ç|ver tc us.
(a} I|e pa|t|cu|a|s cl t|e ccrt|acts c| a||arçe¤erts |ele||ec tc |r Sect|cr 301 t|at reecec tc ue erte|ec |r t|e Reç|ste|
¤a|rta|rec urce| t|e sa|c Sect|cr |ave ueer sc erte|ec.
(u} W|e|e eac| cl suc| t|arsact|crs |s |r e·cess cl 5 |acs |r |espect cl ar] pa|t], we a|e |rlc|¤ec t|at t|e ratu|e cl
t|arsact|cr |s suc| t|at t|e|e a|e rc cc¤pa|at|ve p|eva|||rç ¤a||et p||ces.
c. |r cu| cp|r|cr, t|e |rte|ra| auc|t lurct|crs ca|||ec cut cu||rç t|e ]ea| u] l||¤s cl C|a|te|ec /cccurtarts appc|rtec u] t|e Varaçe¤ert
|ave ueer cc¤¤ersu|ate w|t| t|e s|te cl t|e Cc¤par] arc t|e ratu|e cl |ts uus|ress.
7. /ccc|c|rç tc t|e |rlc|¤at|cr arc e·p|arat|crs ç|ver tc us, arc t|e |ecc|cs cl t|e Cc¤par] e·a¤|rec u] us |r |espect cl
statutc|] cues.
(a} I|e Cc¤par] |as çere|a||] ueer |eçu|a| |r cepcs|t|rç urc|sputec cues |rc|uc|rç ||cv|cert |urc, |rvestc| Ecucat|cr arc
||ctect|cr |urc, E¤p|c]ees' State |rsu|arce, |rcc¤e-Ia·, Sa|es Ia·, Wea|t| Ia·, Se|v|ce Ia·, Custc¤s Dut], E·c|se Dut],
Cess arc ct|e| ¤ate||a| statutc|] cues app||cau|e tc |t w|t| t|e app|cp||ate aut|c||t|es.
(u} I|e|e we|e rc urc|sputec a¤curts pa]au|e |r |espect cl |rcc¤e-Ia·, Sa|es Ia·, Wea|t| Ia·, Se|v|ce Ia·, Custc¤s Dut],
E·c|se Dut], Cess arc ct|e| ¤ate||a| statutc|] cues |r a||ea|s as at 31 Va|c| 2011 lc| a pe||cc cl ¤c|e t|ar s|· ¤crt|s
l|c¤ t|e cate t|e] ueca¤e pa]au|e.
Auuexure to the Auditors' Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 80
(c} I|e|e a|e rc c|sputec cues |e|at|rç tc Sa|es Ia·, Wea|t| Ia·, Se|v|ce Ia·, E·c|se Dut] arc Cess w||c| |ave rct ueer cepcs|tec
w|t| t|e |e|evart aut|c||t|es as at 31st Va|c|, 2011.
I|e ceta||s cl cues cl |rcc¤e-Ia· arc Custc¤s Dut] w||c| |ave rct ueer cepcs|tec as cr 31 Va|c| 2011 cr acccurt cl ar]
c|sputes a|e ç|ver ue|cw.
Namo oI tho 8tatuto Naturo oI duos For|od to wh|ch tho
amouot ro|atos
Forum whoro
d|sputo |s pood|og
Amouot uodor
d|sputo oot yot
dopos|tod
( |o |acs}
I|e |rcc¤e-ta· /ct,
19c1
|rcc¤e-ta· |Y 2007-08 D]. Cc¤¤|ss|cre|
(/ppea|s}
71.9c
|Y 2008-09 D]. Cc¤¤|ss|cre|
(/ppea|s}
71.10
I|e Custc¤s /ct, 19c2 Custc¤ cut] |Y 2007-08 Cc¤¤|ss|cre|
(/ppea|s}
17.09
8. |r cu| cp|r|cr arc accc|c|rç tc t|e |rlc|¤at|cr arc e·p|arat|crs ç|ver tc us, t|e Cc¤par] |as rct celau|tec |r t|e |epa]¤ert cl
cues tc uar|s.
9. |r cu| cp|r|cr arc accc|c|rç tc t|e |rlc|¤at|cr arc e·p|arat|crs ç|ver tc us, t|e te|¤s arc ccrc|t|crs cl t|e çua|artees ç|ver u] t|e
Cc¤par] lc| |cars ta|er u] |ts jc|rt vertu|e cc¤par|es l|c¤ uar|s a|e rct c·¬- |-.- p|ejuc|c|a| tc t|e |rte|ests cl t|e Cc¤par].
10. |r cu| cp|r|cr arc accc|c|rç tc t|e |rlc|¤at|cr arc e·p|arat|crs ç|ver tc us, t|e te|¤ |cars cuta|rec |ave ueer app||ec lc| t|e
pu|pcses lc| w||c| t|e] we|e cuta|rec.
11. |r cu| cp|r|cr arc accc|c|rç tc t|e |rlc|¤at|cr arc e·p|arat|crs ç|ver tc us arc cr ar cve|a|| e·a¤|rat|cr cl t|e Ba|arce S|eet, we
|epc|t t|at lurcs |a|sec cr s|c|t-te|¤ uas|s |ave rct ueer usec cu||rç t|e ]ea| lc| |crç-te|¤ |rvest¤ert.
12. Du||rç t|e ]ea|, t|e Cc¤par] |as ¤ace p|ele|ert|a| a||ct¤ert cl s|a|es aça|rst cpt|cra||] ccrve|t|u|e wa||arts |ssuec |r t|e p|ev|cus
]ea| tc Cc¤par|es ccve|ec |r t|e Reç|ste| ¤a|rta|rec urce| Sect|cr 301 cl t|e Cc¤par|es /ct, 195c. I|e p||ce at w||c| t|ese
s|a|es |ave ueer a||cttec, |as ueer cete|¤|rec as pe| t|e Secu||t|es arc E·c|arçe Bca|c cl |rc|a (|ssue cl Cap|ta| arc D|sc|csu|e
Recu||e¤erts} Reçu|at|crs, 2009, w||c| |r cu| cp|r|cr, |s rct p|ejuc|c|a| tc t|e |rte|est cl t|e Cc¤par].
13. We |ave ve||l|ec t|e erc use cl ¤cre]s |a|sec u] puu||c |ssue v|t. cua||l|ec |rst|tut|cra| p|ace¤ert arc t|e sa¤e |as ueer c|sc|csec
|r |cte 37(||} cl t|e l|rarc|a| state¤erts.
11. Ic t|e uest cl cu| |rcw|ecçe arc accc|c|rç tc t|e |rlc|¤at|cr arc e·p|arat|crs ç|ver tc us, rc l|auc u] t|e Cc¤par] arc rc
s|çr|l|cart l|auc cr t|e Cc¤par] |as ueer rct|cec c| |epc|tec cu||rç t|e ]ea|.
For ßo|o|tto hask|os 8 8o||s,
C|a|te|ec /cccurtarts
(Reç|st|at|cr |c. 1173ccW}
8hyamak ß. Iata
|a|tre|
Ve¤ue|s||p |c. 38320
||ace. Vu¤ua|
Date. 29 /p|||, 2011
Auuexure to the Auditors' Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 81
|r te|¤s cl cu| |epc|t cl ever cate. |c| arc cr ue|a|l cl t|e Bca|c cl D||ectc|s
For ßo|o|tto hask|os 8 8o||s ß. 8. Nagosh ßav| ßahoja ßov|od 8. 8hr|khaodo
C|a|te|ec /cccurtarts V|ce C|a||¤ar D||ectc| Custc¤e| Ca|e /sscc|ate c
Varaç|rç D||ectc|
8hyamak ß. Iata 6. ß. Nava|kar Frashaot Mohta
|a|tre| Custc¤e| Ca|e /sscc|ate c Custc¤e| Ca|e /sscc|ate c
Vu¤ua|, Datec. 29 /p|||, 2011 C|cup C||el ||rarc|a| 0ll|ce| Cc¤par] Sec|eta|] c
V|ce ||es|cert - leça|
(A|| amouots |o |acs}
Notos Mar-11 Va|-10
80üß6E8 0F FüNß8
8hAßEh0IßEß8' FüNß8
S|a|e cap|ta| 3 4,108.34 3,191.13
0pt|cra||] Ccrve|t|u|e Wa||arts ~ 3,071.80
Rese|ves arc su|p|us 1 55,701.88 21,325.99
59,810.22 30,889.22
I0AN FüNß8
Secu|ec |cars 5 12,872.17 18,131.80
ursecu|ec |cars c 2,000.00 1,500.00
14,872.17 19,931.80
74,682.39 50,821.02
AFFII6AII0N 0F FüNß8
FIkEß A88EI8 7
C|css B|cc| 50,564.24 15,7c5.95
less. /ccu¤u|atec cep|ec|at|cr, a¤c|t|sat|cr 19,350.01 18,ccc.39
|et B|cc| 31,214.23 27,099.5c
Cap|ta| wc||-|r-p|cç|ess (|rc|uc|rç Cap|ta| acvarces 4,464.61 2,7c7.71
1,118.22 |acs, 2010 . 958.17 |acs} 35,678.84 29,8c7.30
INvE8IMENI8 8 23,719.34 11,9c7.15
ßEFEßßEß IAk A88EI (NEI} 27(u} 325.00 155.00
6üßßENI A88EI8, I0AN8 ANß AßvAN6E8
|rvertc||es 9 15,113.66 11,989.32
Surc|] ceutc|s 10 1,600.63 1,090.90
Cas| arc uar| ua|arces 11 261.81 303.71
0t|e| cu||ert assets 12 125.72 ÷
lcars arc acvarces 13 27,854.68 19,112.85
44,956.50 35,19c.78
Ioss: 6üßßENI IIAßIIIIIE8 ANß Fß0vI8I0N8 11
Cu||ert l|au|||t|es 29,042.22 2c,172.31
||cv|s|crs 955.07 790.20
29,997.29 2c,9c2.51
|et cu||ert assets 14,959.21 8,531.27
74,682.39 50,821.02
I|e accc¤par]|rç rctes 1 tc 10 a|e ar |rteç|a| pa|t cl t|e l|rarc|a| state¤erts.
8a|auce Sheet as at 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 82
|r te|¤s cl cu| |epc|t cl ever cate. |c| arc cr ue|a|l cl t|e Bca|c cl D||ectc|s
For ßo|o|tto hask|os 8 8o||s ß. 8. Nagosh ßav| ßahoja ßov|od 8. 8hr|khaodo
C|a|te|ec /cccurtarts V|ce C|a||¤ar D||ectc| Custc¤e| Ca|e /sscc|ate c
Varaç|rç D||ectc|
8hyamak ß. Iata 6. ß. Nava|kar Frashaot Mohta
|a|tre| Custc¤e| Ca|e /sscc|ate c Custc¤e| Ca|e /sscc|ate c
Vu¤ua|, Datec. 29 /p|||, 2011 C|cup C||el ||rarc|a| 0ll|ce| Cc¤par] Sec|eta|] c
V|ce ||es|cert - leça|
(A|| amouots |o |acs}
Notos Mar-11 Va|-10
IN60ME
ßota|| Iuroovor
0wr ¤e|c|arc|se (|rc|uc|rç ccrcess|cr sa|es} 2(e} 172,583.12 111,583.75
Ccrs|çr¤ert ¤e|c|arc|se 18,130.30 13,071.07
0t|e| Reta|| cpe|at|rç |rcc¤e 15 2,186.88 2,178.93
21 192,900.30 15c,83c.75
less. Va|ue /ccec Ia· 8,960.24 c,85c.81
less. Ccst cl ccrs|çr¤ert ¤e|c|arc|se 12,965.82 9,129.83
170,974.24 110,550.08
0t|e| |rcc¤e 1c 945.47 c31.17
171,919.71 111,181.25
EkFENßIIüßE
Ccst cl çcccs sc|c 17 108,900.73 88,99c.23
E¤p|c]ee ccsts 18 9,898.37 8,758.55
0pe|at|rç arc ac¤|r|st|at|ve e·perses 19 37,189.48 31,700.27
|rte|est arc l|rarce c|a|çes 20 1,453.77 2,211.35
Dep|ec|at|cr arc /¤c|t|sat|cr 7 3,099.88 3,102.51
160,542.23 131,801.91
Fß0FII ßEF0ßE Ek6EFII0NAI IIEM8 ANß IAk 11,377.48 c,379.31
E·cept|cra| |te¤ 35 (5.10} (187.72}
Fß0FII ßEF0ßE IAk 11,382.58 c,5c7.03
Ia· C|a|çe 27(a} 3,865.00 1,513.98
NEI Fß0FII AFIEß IAk 7,517.58 5,023.05
ßAIAN6E ßß0üßhI F0ßWAßß Fß0M FßEvI0ü8 ¥EAß 2,685.19 (1,17c.00}
10,202.77 3,517.05
AFFß0FßIAII0N8
I|arsle| tc Cere|a| Rese|ve 375.88 251.15
||cpcsec D|v|cerc 616.26 523.72
Cc|pc|ate D|v|cerc Ia· 79.58 8c.99
ßAIAN6E 6AßßIEß I0 ßAIAN6E 8hEEI 9,131.05 2,c85.19
Earo|ogs por sharo
(Equ|ty sharos, Iaco va|uo oI 5/- por sharo} 31
Bas|c (} 9.52 c.c1
D||utec (} 9.42 c.53
I|e accc¤par]|rç |ctes 1 tc 10 a|e ar |rteç|a| pa|t cl t|e l|rarc|a| state¤erts.
Profit aud Loss Accouut
for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 83
Statemeut of Cash F|ows for the year euded 31 March, 2O11
(A|| amouots |o |acs}
Mar-11 Va|-10
6ash I|ows Irom oporat|og act|v|t|os
Not proI|t boIoro tax 11,382.58 c,5c7.03
Adjustmoots Ior:
Dep|ec|at|cr arc /¤c|t|sat|cr 3,099.88 3,102.51
|rte|est arc l|rarce c|a|çes 1,453.77 2,211.35
||cl|t cr sa|e cl l|·ec assets (37.22} (117.29}
D|v|cerc |ece|vec (125.72} ÷
|rte|est |rcc¤e (720.21} (375.10}
0porat|og proI|t boIoro work|og cap|ta| chaogos 15,053.08 11,391.23
Adjustmoots Ior:
I|ace arc ct|e| |ece|vau|es (ct|e| t|ar |ease cepcs|ts} (970.08} 1,021.15
lease cepcs|ts (ret} (341.58} 213.c3
|rvertc||es (2,449.40} (191.22}
I|ace arc ct|e| pa]au|es 5,525.19 (282.c2}
6ash goooratod Irom oporat|oos 16,817.21 11,852.17
|rcc¤e ta·es pa|c (ret cl |elurcs} (3,093.68} (1,c2c.81}
Not cash Irom oporat|og act|v|t|os 13,723.53 10,225.cc
6ash I|ow Irom |ovost|og act|v|t|os
|u|c|ase cl l|·ec assets (11,314.06} (7,300.13}
Sa|e cl l|·ec assets 188.82 c55.01
lcars c acvarces tc suus|c|a||es (ret} (8,587.06} (3,9c0.11}
lcars c acvarces tc asscc|ates (ret} ~ 1,1c1.90
|rvest¤ert |r suus|c|a||es (11,361.32} (950.00}
|rvest¤ert |r jc|rt vertu|es (390.57} (1,272.89}
|rte|est |ece|vec 722.13 373.57
Ccrs|ce|at|cr |ece|vec cr t|arsle| cl c|csswc|c uus|ress (|ele| rcte 2 ue|cw} 2,000.00 ÷
Not cash usod |o |ovost|og act|v|t|os (28,742.05} (11,289.98}
6ash I|ows Irom I|oaoc|og act|v|t|os
||cceecs l|c¤ |ssue cl s|a|e cap|ta| 616.91 1.83
Secu||t|es p|e¤|u¤ cr |ssue cl s|a|e cap|ta| |ece|vec 21,484.30 91.92
||cceecs l|c¤ |ssue cl cpt|cra||] ccrve|t|u|e wa||arts ~ 3,071.80
D|v|cerc arc c|v|cerc ta· pa|c (610.71} ÷
||cceecs l|c¤ |crç te|¤ uc||cw|rçs 2,000.00 ÷
Repa]¤ert cl |crç te|¤ uc||cw|rçs (9,668.12} (2,319.33}
S|c|t te|¤s |cars (ret} 4,105.49 (282.7c}
lcars l|c¤ suus|c|a||es 1,980.00 1,500.00
Repa]¤ert cl |cars tc suus|c|a||es (3,480.00} ÷
|rte|est arc l|rarce c|a|çes pa|c (1,453.77} (2,211.35}
Not cash Irom/(usod |o} I|oaoc|og act|v|t|os 14,974.10 (207.89}
Not ßocroaso |o cash aod cash oqu|va|oots (44.42} (1,272.21}
Cas| arc cas| ecu|va|erts as at ueç|rr|rç cl t|e ]ea| 280.84 1,553.05
Cas| arc cas| ecu|va|erts as at t|e erc cl t|e ]ea| 236.42 280.81
(44.42} (1,272.21}
Notos:
(1} Cas| arc Cas| Ecu|va|erts as pe| Ba|arce S|eet (see |cte 11} 261.81 303.71
less. Depcs|t urce| ||er 25.39 22.87
Cas| arc Cas| Ecu|va|erts as |epc|tec aucve 236.42 280.81
(2} Ccrs|ce|at|cr |ece|vau|e l|c¤ t|arsle| cl C|csswc|c uus|ress (see |cte 38} 2,639.53 ÷
less. cas| |ece|vec (2,000.00} ÷
Ba|arce ccrs|ce|at|cr |ece|vau|e as cr 31 Va|c| 2011 639.53 ÷
I|e accc¤par]|rç |ctes 1 tc 10 a|e ar |rteç|a| pa|t cl t|e l|rarc|a| state¤erts.
|r te|¤s cl cu| |epc|t cl ever cate. |c| arc cr ue|a|l cl t|e Bca|c cl D||ectc|s
For ßo|o|tto hask|os 8 8o||s ß. 8. Nagosh ßav| ßahoja ßov|od 8. 8hr|khaodo
C|a|te|ec /cccurtarts V|ce C|a||¤ar D||ectc| Custc¤e| Ca|e /sscc|ate c
Varaç|rç D||ectc|
8hyamak ß. Iata 6. ß. Nava|kar Frashaot Mohta
|a|tre| Custc¤e| Ca|e /sscc|ate c Custc¤e| Ca|e /sscc|ate c
Vu¤ua|, Datec. 29 /p|||, 2011 C|cup C||el ||rarc|a| 0ll|ce| Cc¤par] Sec|eta|] c
V|ce ||es|cert - leça|
Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 81
1. 60MFAN¥ ßA6kßß0üNß
S|cppe|s Stcp l|¤|tec ('SSl' c| 't|e Cc¤par]'} was |rcc|pc|atec cr 1c Jure 1997. I|e Cc¤par] |s erçaçec |r t|e uus|ress cl
|eta|||rç a va||et] cl |cuse|c|c arc ccrsu¤e| p|ccucts arc ucc|s t||cuç| cepa|t¤erta| stc|es. /s at 31 Va|c| 2011, t|e Cc¤par]
cpe|atec t||cuç| 12 suc| cepa|t¤erta| stc|es |ccatec |r c|lle|ert c|t|es cl |rc|a.
2. 8IßNIFI6ANI A660üNIINß F0II6IE8
a} ßas|s oI proparat|oo oI I|oaoc|a| statomoots
I|e l|rarc|a| state¤erts |ave ueer p|epa|ec urce| t|e ||stc||ca| ccst ccrvert|cr arc |r accc|carce w|t| Cere|a||] /cceptec
/cccurt|rç |||rc|p|es |rc|uc|rç app||cau|e /cccurt|rç Starca|cs |r |rc|a arc t|e p|cv|s|crs cl t|e Cc¤par|es /ct, 195c.
b} üso oI ost|matos
I|e p|epa|at|cr cl l|rarc|a| state¤erts |r ccrlc|¤|t] w|t| Cere|a||] /cceptec /cccurt|rç |||rc|p|es |ecu||es est|¤ates arc
assu¤pt|crs tc ue ¤ace t|at allect t|e |epc|tec a¤curts cl assets arc ||au|||t|es arc c|sc|csu|e cl ccrt|rçert ||au|||t|es cr t|e
cate cl t|e l|rarc|a| state¤erts arc t|e |epc|tec a¤curts cl |everues arc e·perses cu||rç t|e |epc|t|rç pe||cc. /ctua| |esu|ts
ccu|c c|lle| l|c¤ t|cse est|¤ates arc c|lle|erces uetweer actua| |esu|ts arc est|¤ates a|e |eccçr|sec |r t|e pe||ccs |r w||c|
t|e |esu|ts a|e |rcwr/¤ate||a||se.
c} F|xod Assots aod ßoproc|at|oo
Iaog|b|o Assots
||·ec assets a|e statec at t|e|| c||ç|ra| ccst cl accu|s|t|cr |ess accu¤u|atec cep|ec|at|cr arc |¤pa||¤ert |csses. Ccst cc¤p||ses
cl a|| ccsts |rcu||ec tc u||rç t|e assets tc t|e|| |ccat|cr arc wc|||rç ccrc|t|cr arc |rc|uces a|| e·perses |rcu||ec up tc t|e cate
cl |aurc||rç rew stc|es tc t|e e·tert t|e] a|e att||uutau|e tc t|e rew stc|es.
Dep|ec|at|cr |s p|cv|cec, p|c |ata lc| t|e pe||cc cl use, u] t|e st|a|ç|t ||re ¤et|cc (SlV}, uasec cr ¤araçe¤erts est|¤ate cl
uselu| ||ves cl t|e l|·ec assets, c| at t|e SlV |ates p|esc||uec |r Sc|ecu|e /|V tc t|e /ct w||c|eve| |s ||ç|e|, at t|e lc||cw|rç
arrua| |ates.
/|| ccrc|t|cr|rç arc ct|e| ecu|p¤ert 5.00÷20.00
|u|r|tu|e, l|·tu|es arc ct|e| l|tt|rçs c.33÷20.00
Cc¤pute|s 1c.21÷33.33
Ve||c|es 9.50
lease|c|c |¤p|cve¤erts 5.82÷20.00
Iotaog|b|o Assots
|rtarç|u|e assets a|e statec at t|e|| ccst cl accu|s|t|cr, |ess accu¤u|atec a¤c|t|sat|cr arc |¤pa||¤ert |csses. /r |rtarç|u|e
asset |s |eccçr|sec, w|e|e |t |s p|cuau|e t|at t|e lutu|e eccrc¤|c uerel|ts att||uutau|e tc t|e asset w||| l|cw tc t|e erte|p||se
arc w|e|e |ts ccst car ue |e||au|] ¤easu|ec. I|e |rtarç|u|e assets a|e a¤c|t|sec cve| t|e uest est|¤ate cl |ts uselu| ||le cr a
st|a|ç|t-||re uas|s.
I|ace¤a||s c |aterts arc Cc¤pute| Scltwa|e a|e a¤c|t|sec ur|lc|¤|] cve| a pe||cc cl 10 arc c ]ea|s |espect|ve|].
Siguificaut Accouutiug Po|icies aud lotes formiug part of
Fiuaucia| Statemeuts for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 85
Impa|rmoot oI assots
/r asset |s ccrs|ce|ec as |¤pa||ec |r accc|carce w|t| /cccurt|rç Starca|c 28 cr |¤pa||¤ert cl /ssets w|er at t|e ua|arce
s|eet cate t|e|e a|e |rc|cat|crs cl |¤pa||¤ert arc t|e ca||]|rç a¤curt cl t|e asset, c| w|e|e app||cau|e, cl t|e cas| çere|at|rç
ur|t tc w||c| t|e asset ue|crçs, e·ceecs |ts |eccve|au|e a¤curt (|.e. t|e ||ç|e| cl t|e asset's ret se|||rç p||ce arc va|ue |r use}.
I|e ca||]|rç a¤curt |s |ecucec tc t|e |eccve|au|e a¤curt arc t|e |ecuct|cr |s |eccçr|sec as ar |¤pa||¤ert |css |r t|e p|cl|t
arc |css acccurt.
d} Iovostmoots
lcrç-te|¤ |rvest¤erts a|e statec at ccst. W|e|e app||cau|e, p|cv|s|cr |s ¤ace tc |eccçr|se a cec||re, ct|e| t|ar te¤pc|a|], |r
t|e va|ue cl lcrç-te|¤ |rvest¤erts.
o} ßovoouo rocogo|t|oo
Reverue |s |eccçr|sec w|er |t |s ea|rec arc rc s|çr|l|cart urce|ta|rt] e·|sts as tc |ts |ea||sat|cr c| cc||ect|cr.
Reta|| sa|es a|e |eccçr|sec cr ce||ve|] cl t|e ¤e|c|arc|se tc t|e custc¤e|, w|er t|e p|cpe|t] |r çcccs arc s|çr|l|cart ||s|s arc
|ewa|cs a|e t|arsle||ec lc| a p||ce arc rc ellect|ve cwre|s||p ccrt|c| |s |eta|rec.
I|e p|cpe|t] |r t|e ¤e|c|arc|se cl t|||c pa|t] ccrcess|cr stc|es |ccatec w|t||r t|e ¤a|r cepa|t¤erta| stc|e cl t|e Cc¤par]
passes tc t|e Cc¤par] crce a custc¤e| cec|ces tc pu|c|ase ar |te¤ l|c¤ t|e ccrcess|cr stc|e. I|e Cc¤par] |r tu|r se||s t|e
|te¤ tc t|e custc¤e| arc |s accc|c|rç|] |rc|ucec urce| Reta|| Sa|es.
I|e p|cpe|t] |r t|e ¤e|c|arc|se cl t|||c pa|t] ccrs|çr¤ert stcc| cces rct pass tc t|e Cc¤par]. S|rce, |cweve|, t|e sa|e
cl suc| stcc| lc|¤s a pa|t cl t|e act|v|t|es cl t|e Cc¤par]s cepa|t¤erta| stc|es, t|e ç|css sa|es va|ues arc ccst cl t|e
¤e|c|arc|se a|e c|sc|csec sepa|ate|] arc lc|¤ pa|t cl tcta| Reta|| Iu|rcve| |r t|e p|cl|t arc |css acccurt.
Sa|es a|e ret cl c|sccurts. Va|ue /ccec Ia· arc Sa|es Ia· a|e |ecucec l|c¤ Reta|| Iu|rcve|.
|r |espect cl ç|lt vcuc|e|s arc pc|rt awa|c sc|e¤es cpe|atec u] t|e Cc¤par], sa|es a|e |eccçr|sec w|er t|e ç|lt vcuc|e|s c|
pc|rts a|e |ecee¤ec arc t|e ¤e|c|arc|se |s sc|c tc t|e custc¤e|.
Reverue l|c¤ stc|e c|sp|a]s arc spcrsc|s||ps a|e |eccçr|sec uasec cr t|e pe||cc lc| w||c| t|e p|ccucts c| t|e spcrsc|s'
acve|t|se¤erts a|e p|c¤ctec/c|sp|a]ec. |ac|||t] ¤araçe¤ert lees a|e |eccçr|sec p|c-|ata cve| t|e pe||cc cl t|e ccrt|act.
I} Iocomo Irom Iovostmoots aod Ioaos
|rte|est |rcc¤e |s |eccçr|sec cr t|¤e p|cpc|t|cr uas|s. D|v|cerc |rcc¤e |s |eccçr|sec w|er ||ç|t tc |ece|ve pa]¤ert |s
estau||s|ec.
g} Iovootor|os
|rvertc||es a|e va|uec at t|e |cwe| cl ccst arc ret |ea||sau|e va|ue. Ccst cl |rvertc||es cc¤p||ses a|| ccsts cl pu|c|ase arc ct|e|
ccsts |rcu||ec |r u||rç|rç t|e |rvertc||es tc t|e|| p|esert ccrc|t|cr arc |ccat|cr. Ccst |s cete|¤|rec u] t|e we|ç|tec ave|açe
ccst ¤et|cc.
Ve|c|arc|se |ece|vec urce| ccrs|çr¤ert arc ccrcess|cra||e a||arçe¤erts ue|crç tc t|e ccrs|çrc|s/ccrcess|cra||es arc a|e
t|e|elc|e e·c|ucec l|c¤ t|e Cc¤par]'s |rvertc||es.
h} Emp|oyoo boooI|ts
Cc¤persat|cr tc e¤p|c]ees lc| se|v|ces |erce|ec |s ¤easu|ec arc acccurtec lc| |r accc|carce w|t| /cccurt|rç Starca|c 15
cr E¤p|c]ee Berel|ts.
Siguificaut Accouutiug Po|icies aud lotes formiug part of
Fiuaucia| Statemeuts for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 8c
E¤p|c]ee Berel|ts suc| as sa|a||es, a||cwarces, rcr-¤creta|] uerel|ts arc e¤p|c]ee uerel|ts urce| cel|rec ccrt||uut|cr p|ars
suc| as p|cv|cert arc ct|e| lurcs, w||c| la|| cue lc| pa]¤ert w|t||r a pe||cc cl twe|ve ¤crt|s alte| |erce||rç se|v|ce, a|e
c|a|çec as e·perse tc t|e p|cl|t arc |css acccurt |r t|e pe||cc |r w||c| t|e se|v|ce |s |erce|ec.
E¤p|c]ee Berel|ts urce| cel|rec uerel|t p|ars arc ct|e| |crç-te|¤ e¤p|c]ee uerel|ts suc| as ç|atu|t] arc cc¤persatec
auserces w||c| la|| cue lc| pa]¤ert alte| cc¤p|et|cr/cessat|cr cl e¤p|c]¤ert c| alte| a pe||cc cl twe|ve ¤crt|s l|c¤
|erce||rç se|v|ce, a|e ¤easu|ec u] t|e p|cjectec ur|t c|ec|t ¤et|cc, uasec cr actua||a| va|uat|crs, at eac| ua|arce s|eet cate,
ca|||ec cut u] |rcepercert actua||es. I|e Cc¤par]'s cu||çat|crs |eccçr|sec |r t|e ua|arce s|eet |ep|esert t|e p|esert va|ue
cl cu||çat|crs as |ecucec u] t|e la|| va|ue cl p|ar assets, w|e|e app||cau|e.
/ctua||a| Ca|rs arc |csses a|e |eccçr|sec |¤¤ec|ate|] |r t|e ||cl|t arc lcss /cccurt.
|} 0porat|og Ioaso
0pe|at|rç lease pa]¤erts a|e |eccçr|sec as ar e·perse |r t|e ||cl|t c lcss /cccurt cr a st|a|ç|t-||re uas|s c| ct|e| s]ste¤at|c
uases ¤c|e |ep|esertat|ve cl t|e t|¤e patte|r cl t|e use|'s uerel|t.
j} ßorrow|og costs
Bc||cw|rç ccsts att||uutau|e tc t|e accu|s|t|cr c| ccrst|uct|cr cl cua||l]|rç assets, as cel|rec |r /cccurt|rç Starca|c 1c cr
Bc||cw|rç Ccsts, a|e cap|ta||sec as pa|t cl t|e ccst cl accu|s|t|cr. 0t|e| uc||cw|rç ccsts a|e e·persec as |rcu||ec.
k} Foro|go curroocy traosact|oos
I|arsact|crs |r lc|e|çr cu||erc|es a|e acccurtec at t|e p|eva|||rç |ates cl e·c|arçe cr t|e cate cl t|arsact|cr.
Vcreta|] |te¤s cerc¤|ratec |r lc|e|çr cu||erc|es, a|e |estatec at t|e p|eva|||rç |ates cl e·c|arçe at t|e Ba|arce S|eet cate.
/|| ça|rs arc |csses a||s|rç cut cl l|uctuat|crs |r e·c|arçe |ates a|e acccurtec lc| |r t|e ||cl|t arc lcss /cccurt.
E·c|arçe c|lle|erces cr lc|wa|c e·c|arçe ccrt|acts, erte|ec |rtc lc| |ecç|rç lc|e|çr e·c|arçe l|uctuat|cr ||s| |r |espect
cl ar urce||]|rç asset/||au|||t], a|e |eccçr|sec |r t|e ||cl|t arc lcss /cccurt |r t|e |epc|t|rç pe||cc |r w||c| t|e e·c|arçe
|ate c|arçes. ||e¤|u¤/ D|sccurt cr lc|wa|c e·c|arçe ccrt|acts a|e |eccçr|sec as ar e·perse/|rcc¤e cve| t|e ||le cl t|e
ccrt|act.
|} Iocomo-tax
|rcc¤e-ta·es a|e acccurtec lc| |r accc|carce w|t| /cccurt|rç Starca|c 22 cr /cccurt|rç lc| Ia·es cr |rcc¤e. Ia·es cc¤p||se
uct| cu||ert arc cele||ec ta·.
||cv|s|cr lc| cu||ert ta· |s ¤ace ta||rç |rtc acccurt ac¤|ss|u|e a||cwarces, c|sa||cwarces urce| t|e p|cv|s|crs cl |rcc¤e-ta·
/ct, 19c1, us|rç t|e app||cau|e ta· |ates.
Dele||ec ta· |esu|t|rç l|c¤ t|e t|¤|rç c|lle|erces uetweer ta·au|e |rcc¤e arc acccurt|rç |rcc¤e |s acccurtec us|rç app||cau|e
ta· |ates arc |aws, eractec c| suustart|ve|] eractec as at t|e Ba|arce S|eet.
I|e cele||ec ta· asset |s |eccçr|sec arc ca|||ec lc|wa|c cr|] tc t|e e·tert t|at t|e|e |s |eascrau|e/v||tua| ce|ta|rt] t|at t|e
asset w||| ue |ea||sec |r lutu|e.
m} 8tock-basod compoosat|oo
I|e cc¤persat|cr ccst cl stcc| cpt|crs ç|artec tc e¤p|c]ees |s ca|cu|atec us|rç t|e |rt||rs|c va|ue cl t|e stcc| cpt|crs. I|e
cc¤persat|cr e·perse |s a¤c|t|sec ur|lc|¤|] cve| t|e vest|rç pe||cc cl t|e cpt|cr.
o} Earo|ogs For 8haro
I|e cc¤par] |epc|ts uas|c arc c||utec Ea|r|rçs |e| S|a|e (E|S} |r accc|carce w|t| /cccurt|rç Starca|c 20 cr Ea|r|rçs |e|
Siguificaut Accouutiug Po|icies aud lotes formiug part of
Fiuaucia| Statemeuts for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 87
S|a|e. Bas|c E|S |s cc¤putec u] c|v|c|rç t|e ret p|cl|t c| |css lc| t|e ]ea| u] t|e we|ç|tec ave|açe ru¤ue| cl ecu|t] s|a|es
cutstarc|rç cu||rç t|e ]ea|. D||utec E|S |s cc¤putec u] c|v|c|rç t|e ret p|cl|t c| |css lc| t|e ]ea| u] t|e we|ç|tec ave|açe
ru¤ue| cl ecu|t] s|a|es cutstarc|rç cu||rç t|e ]ea| as acjustec lc| t|e ellects cl a|| c||ut|ve pctert|a| ecu|t] s|a|es, e·cept
w|e|e t|e |esu|ts a|e art|-c||ut|ve.
o} 6ash F|ow 8tatomoot
I|e Cas| ||cw State¤ert |s p|epa|ec u] t|e |rc||ect ¤et|cc set cut |r /cccurt|rç Starca|c 3 cr Cas| ||cw State¤erts arc
p|eserts t|e cas| l|cws u] cpe|at|rç, |rvest|rç arc l|rarc|rç act|v|t|es cl t|e Cc¤par]. Cas| arc cas| ecu|va|erts p|esertec
|r t|e Cas| ||cw State¤ert ccrs|st cl cas|-cr-|arc arc urercu¤ue|ec uar| ua|arces.
p} Frov|s|oo, 6oot|ogoot I|ab|||t|os aod 6oot|ogoot Assots
||cv|s|crs |rvc|v|rç suustart|a| ceç|ee cl est|¤at|cr |r ¤easu|e¤ert a|e |eccçr|sec w|er t|e|e |s a p|esert cu||çat|cr as a
|esu|t cl past everts arc |t |s p|cuau|e t|at t|e|e w||| ue ar cutl|cw cl |escu|ces. Ccrt|rçert l|au|||t|es a|e rct |eccçr|sec uut
a|e c|sc|csec |r t|e rctes tc t|e l|rarc|a| state¤erts. D|sc|csu|e |s rct ¤ace |l t|e pcss|u|||t] cl ar cutl|cw cl lutu|e eccrc¤|c
uerel|ts |s |e¤cte. Ccrt|rçert assets a|e re|t|e| |eccçr|sec rc| c|sc|csec |r t|e l|rarc|a| state¤erts.
Siguificaut Accouutiug Po|icies aud lotes formiug part of
Fiuaucia| Statemeuts for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 88
(A|| amouots |o |acs}
Mar-11 Va|-10
3. 8hAßE 6AFIIAI
Author|sod
200,000,000 ecu|t] s|a|es cl 5/- eac| (2010. 100,000,000 cl 10 eac|}
(see |cte 3c} 10,000.00 10,000.00
Issuod aod 8ubscr|bod
82,1cc,83c ecu|t] s|a|es cl 5/- eac| lu||] pa|c-up (2010. 31,911,311
ecu|t] s|a|es cl 10/- eac| lu||] pa|c-up} (see |cte 37(|}} 4,108.34 3,191.13
4,108.34 3,191.13
urce| E¤p|c]ee Stcc| 0pt|cr Sc|e¤es t|e Cc¤par] |as ç|artec
(ret cl cpt|crs |apsec} .
a} 219,27c (2010 . 225,cc0} 0pt|crs |r 2001-05, cl w||c| 219,27c
vestec cpt|crs |ave ueer e·e|c|sec.
u} 118,351 (2010 . 152,902} 0pt|crs |r 2001-05, cl w||c| 118,351
vestec cpt|crs |ave ueer e·e|c|sec.
c} 112,5c2 (2010 . 115,970} 0pt|crs |r 2005-0c, cl w||c| 89,c30
vestec cpt|crs |ave ueer e·e|c|sec.
c} 1,011,cc0 (2010 . 1,025,100} 0pt|crs |r 2009-10, cl w||c| 253,5c0
vestec cpt|crs |ave ueer e·e|c|sec.
e} 389,000 (2010 . 100,000} 0pt|crs |r 2009-10, cl w||c| 13,200
vestec cpt|crs |ave ueer e·e|c|sec.
0l t|e aucve, 338,118 cpt|crs we|e e·e|c|sec cu||rç t|e ]ea|
|cte . Eac| cpt|cr ert|t|es t|e |c|ce| t|e|ecl tc app|] lc| arc ue a||cttec
1 0|c|ra|] S|a|es cl t|e lace va|ue cl 5 eac|.
4. ßE8EßvE8 ANß 8üßFIü8
8ocur|t|os From|um Accouot:
Ba|arce at ueç|rr|rç cl t|e ]ea| 21,068.21 20,9c1.c1
/cc. Rece|vec cu||rç t|e ]ea| (see |cte 37(|}} 24,954.26 103.c0
less. ut|||sec lc| s|a|e |ssue e·perses 385.07 ÷
45,637.40 21,0c8.21
ßooora| ßosorvo
Ba|arce at ueç|rr|rç cl t|e ]ea| 552.45 301.30
I|arsle||ec l|c¤ ||cl|t arc lcss /cccurt 375.88 251.15
928.33 552.15
ßa|aoco |o FroI|t aod Ioss Accouot 9,131.05 2,c85.19
E¤p|c]ees Stcc| 0pt|crs cutstarc|rç (see |cte 30(c}(|v}} 5.10 20.11
55,701.88 21,325.99
5. 8E6üßEß I0AN8
From baoks (ßoIor ooto bo|ow}
Ie|¤ lcars 2,000.00 9,cc8.12
Cas| C|ec|t 3,560.52 1,309.19
Wc|||rç Cap|ta| De¤arc lcars 7,014.13 7,005.c9
Bu]e|s C|ec|t 297.52 151.80
12,872.17 18,131.80
Noto:
Ie|¤ lcars, Cas| C|ec|t |ac|||t|es, Wc|||rç Cap|ta| De¤arc lcars arc Bu]e|s C|ec|t a|e secu|ec u] a l||st c|a|çe cr a|| ¤cvau|e tarç|u|e
p|cpe|t|es arc ar e·c|us|ve ||er cr |ease cepcs|ts arc cr a|| cu||ert assets cl t|e Cc¤par], uct| p|esert arc lutu|e.
6. üN8E6üßEß I0AN8
Cc¤¤e|c|a| |ape| ' 2,000.00 ÷
||c¤ a Suus|c|a|] Cc¤par] ~ 1,500.00
2,000.00 1,500.00
' (Repa]au|e w|t||r cre ]ea| 2,000 |acs, Va·|¤u¤ a¤curt cutstarc|rç
cu||rç t|e ]ea| c,000 |acs}
lotes to Fiuaucia| Statemeuts
for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 89
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lotes to Fiuaucia| Statemeuts
for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 90
(A|| amouots |o |acs}
Mar-11 Va|-10
8. INvE8IMENI8 (Irado, |oog-torm at cost, uoquotod}
Io 8ubs|d|ary 6ompao|os:
S|cppe|s Stcp Se|v|ces (|rc|a} l|¤|tec
50,000 Ecu|t] S|a|es cl 10/- eac| |u||] |a|c 5.00 5.00
less. ||cv|s|cr lc| c|¤|rut|cr |r va|ue cl |rvest¤ert (5.00} (5.00}
~ ÷
upasra I|ac|rç l|¤|tec
5,000 Ecu|t] S|a|es cl 100/- eac| |u||] |a|c 5.00 5.00
less. ||cv|s|cr lc| c|¤|rut|cr |r va|ue cl |rvest¤ert (5.00} (5.00}
~ ~
S|cppe|s Stcp.cc¤ (|rc|a} l|¤|tec
50,000 Ecu|t] s|a|es cl 10/- eac| |u||] |a|c 5.00 5.00
less. ||cv|s|cr lc| c|¤|rut|cr |r va|ue cl |rvest¤ert (5.00} (5.00}
~ ÷
Catewa] Vu|t|c|arre| Reta|| (|rc|a} l|¤|tec
25,500 Ecu|t] s|a|es cl 10/- eac| |u||] |a|c 2.55 2.55
less. ||cv|s|cr lc| c|¤|rut|cr |r va|ue cl |rvest¤ert (2.55} (2.55}
~ ÷
C|csswc|c Bcc|stc|es l|¤|tec
95,c2,500 Ecu|t] s|a|es cl 10/- eac| |u||] |a|c 2,505.93 2,505.93
1,00,00,000, 5.5º Cu¤u|at|ve Reece¤au|e ||ele|erce S|a|es cl 10/- eac|
|u||] |a|c
1,000.00 1,000.00
|]pe|c|t] Reta|| (|rc|a} l|¤|tec '
1,81,500 (2010. |||} Ecu|t] S|a|es cl 10/- eac| |u||] |a|c 67.61 ÷
(3,01,000 Ecu|t] S|a|es pu|c|asec cu||rç t|e ]ea|}
13,10,70,000 (2010. |||}, 7º Cc¤pu|sc|||] Ccrve|t|u|e 14,182.20 ÷
||ele|erce S|a|es cl 10/- eac| |u||] pa|c
(9,11,70,000 ||ele|erce S|a|es pu|c|asec cu||rç t|e ]ea|}
1,12,20,000 (2010. |||}, 7º Cu¤u|at|ve Recee¤au|e 1,122.00 ÷
||ele|erce S|a|es cl 10/- eac| |u||] pa|c
(1,12,20,000 ||ele|erce S|a|es pu|c|asec cu||rç t|e ]ea|}
Io Jo|ot vooturo 6ompao|os:
I|¤etcre Erte|ta|r¤ert |||vate l|¤|tec
1,19,91,900 (2010. 80,89,211} Ecu|t] S|a|es cl 10/- eac| |u||] |a|c 1,199.49 808.92
(39,05,c8c Ecu|t] S|a|es pu|c|asec cu||rç t|e ]ea|}
|uarce C|cup (|rc|a} |||vate l|¤|tec
3,c1,10,000 Ecu|t] S|a|es cl 10/- eac| |u||] |a|c 3,641.00 3,c11.00
Io Assoc|ato 6ompaoy:
|]pe|c|t] Reta|| (|rc|a} l|¤|tec '
||| (2010. 1,80,500} Ecu|t] S|a|es cl 10/- eac| |u||] |a|c ~ 20.19
||| (2010. 3,99,00,000}, 7º Cu¤u|at|ve Recee¤au|e ~ 3,990.00
||ele|erce S|a|es cl 10/- eac| |u||] pa|c
0thors:
Sta|çate ||cpe|t|es |||vate l|¤|tec
1,000 Ecu|t] S|a|es cl 10/- eac| |u||] pa|c 0.10 0.10
Reta||e|s /sscc|at|cr cl |rc|a
10,000 Ecu|t] S|a|es cl 10/- eac| |u||] pa|c 1.00 1.00
/est|et|c Rea|tc|s |||vate l|¤|tec
cc Ecu|t] S|a|es cl 10/- eac| |u||] |a|c 0.01 0.01
23,719.34 11,9c7.15
' Beca¤e a Suus|c|a|] cc¤par] w.e.l. 30 Jure 2010
lotes to Fiuaucia| Statemeuts
for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 91
(A|| amouots |o |acs}
Mar-11 Va|-10
9. INvENI0ßIE8
(/t |cwe| cl ccst arc |et |ea||sau|e va|ue}
Reta|| ¤e|c|arc|se 15,113.66 11,989.32
10. 8üNßߥ ßEßI0ß8
(ursecu|ec}
Deuts cutstarc|rç lc| ¤c|e t|ar c ¤crt|s
Ccrs|ce|ec çccc 29.49 81.91
Ccrs|ce|ec ccuutlu| 12.40 1c.10
0t|e| Deuts, ccrs|ce|ec çccc ' 1,571.14 1,008.99
1,613.03 1,137.30
less. ||cv|s|cr lc| ccuutlu| ceuts 12.40 1c.10
1,600.63 1,090.90
' |rc|uces |ece|vau|e l|c¤ a suus|c|a|] cc¤par] cr acccurt cl
t|arsle| cl uus|ress c39.53 |acs (2010 . |||}
(see rcte 38}
11. 6A8h ANß ßANk ßAIAN6E8
Cas| cr |arc 179.87 155.09
Ba|arces w|t| sc|ecu|ec uar|s.
|r Cu||ert acccurts 56.55 125.75
|r Va|ç|r ¤cre] acccurts (urce| ||er aça|rst uar| çua|artee} 25.39 22.87
261.81 303.71
12. 0IhEß 6üßßENI A88EI8
D|v|cerc |ece|vau|e l|c¤ a suus|c|a|] cc¤par] 125.72 ÷
125.72 ÷
13. I0AN8 ANß AßvAN6E8
(ursecu|ec, ccrs|ce|ec çccc ur|ess ct|e|w|se statec}
lcars arc /cvarces tc suus|c|a|] cc¤par|es 15,081.87 c,191.82
(|rc|uces ccuutlu| acvarces cl 2,291.00 |acs, 2010. 2,29c.10 |acs}
lcars arc /cvarces tc ct|e| ç|cup cc¤par|es 335.47 311.50
/cvarces |eccve|au|e |r cas| c| |r ||rc c| lc| va|ue tc ue |ece|vec.
Ccrs|ce|ec çccc 3,994.61 3,5c9.1c
Ccrs|ce|ec ccuutlu| 393.73 393.73
4,388.34 3,9c2.89
||e¤|ses arc ct|e| cepcs|ts 10,675.45 10,333.87
|rcc¤e-ta·es pa|c (ret cl ta· p|cv|s|crs} 58.28 c99.c0
30,539.41 21,802.c8
less. ||cv|s|cr lc| ccuutlu| acvarces 2,684.73 2,c89.83
27,854.68 19,112.85
lcars tc suus|c|a|] cc¤par|es cc¤p||se cl.
÷ lcars ç|ver tc |]pe|c|t] Reta|| (|rc|a} l|¤|tec 12,5c5.51 |acs
(2010 . 1,159.12 |acs} (I|e ¤a·|¤u¤ cutstarc|rç cu||rç t|e ]ea| was
13,c85.15 |acs, 2010 . 5,03c.c5 |acs}.
÷ lcars ç|ver tc Catewa] Vu|t|c|arre| Reta|| (|rc|a} l|¤|tec 2,291 |acs
(2010 . 2,29c.10 |acs} (I|e ¤a·|¤u¤ cutstarc|rç cu||rç t|e ]ea| was
2,29c.10 |acs, 2010 . 2,183.82 |acs}.
lotes to Fiuaucia| Statemeuts
for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 92
(A|| amouots |o |acs}
Mar-11 Va|-10
14. 6üßßENI IIAßIIIIIE8 ANß Fß0vI8I0N8
Curreut |iabi|ities
Surc|] c|ec|tc|s (see rctes ue|cw}
÷ Icta| cutstarc|rç cues cl V|c|c arc S¤a|| erte|p||ses (see |cte (||} ue|cw} ~ ÷
÷ Icta| 0utstarc|rç Dues cl c|ec|tc|s ct|e| t|ar V|c|c arc S¤a|| erte|p||ses 27,711.00 25,288.38
Secu||t] cepcs|ts 238.30 2c1.81
0t|e| l|au|||t|es 1,092.92 c22.09
29,042.22 2c,172.31
Provisious
|c| ||cpcsec D|v|cerc 616.26 523.72
|c| Cc|pc|ate D|v|cerc Ia· 79.58 8c.99
|c| C|atu|t] 88.84 ÷
|c| leave Ercas|¤ert 170.39 179.19
955.07 790.20
29,997.29 2c,9c2.51
Notos:
|} Surc|] C|ec|tc|s |rc|uce a¤curts cue tc suus|c|a|] cc¤par|es.
S|cppe|s Stcp Se|v|ces (|rc|a} l|¤|tec ||| |acs (2010. 2.c7 |acs}
S|cppe|s Stcp.cc¤ (|rc|a} l|¤|tec ||| |acs (2010. 2.01 |acs}
upasra I|ac|rç l|¤|tec 98.11 |acs (2010. c5.07 |acs}
||} I|e Cc¤par] |as rct |ece|vec ar] |rt|¤at|cr l|c¤ supp||e|s urce| t|e
V|c|c S¤a|| arc Vec|u¤ Erte|p||ses Deve|cp¤ert /ct, 200c arc t|e|elc|e
c|sc|csu|es, |l ar], |e|at|rç tc a¤curts urpa|c as at t|e ]ea| erc tcçet|e| w|t|
|rte|est pa|c/pa]au|e as |ecu||ec urce| t|e sa|c /ct |ave rct ueer ç|ver.
15. 0IhEß ßEIAII 0FEßAIINß IN60ME
|ac|||t] ¤araçe¤ert lees 826.36 c31.17
|rcc¤e l|c¤ stc|e c|sp|a]s arc spcrsc|s||p |rcc¤e 606.81 15c.12
D||ect ¤a||et|rç |rcc¤e 753.71 128.1c
Re||rcu|s|¤ert cl ceve|cp¤ert ||ç|ts ~ cc0.18
2,186.88 2,178.93
16. 0IhEß IN60ME
D|v|cerc l|c¤ a suus|c|a|] cc¤par] 125.72 ÷
|rte|est |rcc¤e 720.21 375.10
[Ia· cecuctec at scu|ce c1.22 |acs (2010. 1.21 |acs[
||cl|t cr sa|e cl l|·ec assets (ret} 37.22 117.29
|c|e|çr e·c|arçe ça|r (ret} ~ 51.13
V|sce||arecus |rcc¤e arc c|ec|ts 62.32 57.05
945.47 c31.17
17. 608I 0F ß00ß8 80Iß
(|rc|uc|rç ccrcess|cr pu|c|ases}
0per|rç stcc| 14,989.32 11,198.10
/cc. |u|c|ases 111,350.13 89,187.15
less./cjust¤ert cr acccurt cl t|arsle| cl uus|ress tc
C|csswc|c Bcc|stc|es l|¤|tec (see |cte 38} 2,325.06 ÷
less. C|cs|rç stcc| 15,113.66 11,989.32
108,900.73 88,99c.23
lotes to Fiuaucia| Statemeuts
for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 93
(A|| amouots |o |acs}
Mar-11 Va|-10
18. EMFI0¥EE 608I8
Sa|a||es, a||cwarces arc ucrus 9,034.17 7,951.70
Ccrt||uut|cr tc p|cv|cert arc ct|e| lurcs 432.78 3c8.87
C|atu|t] arc |eave ercas|¤ert 161.03 238.38
Stall we|la|e e·perses 270.39 199.c0
9,898.37 8,758.55
19. 0FEßAIINß ANß AßMINI8IßAIIvE EkFEN8E8
|rsu|arce 89.82 57.1c
lease |ert arc |||e C|a|çes 15,228.80 13,7cc.3c
Bus|ress ccrcuct|rç lees 931.68 98c.1c
Rates arc ta·es 52.51 13.78
Repa||s arc ¤a|rterarce
÷ Bu||c|rçs 3,299.46 2,171.c1
÷ 0t|e|s 589.38 552.81
leça| arc p|cless|cra| lees 287.67 112.cc
|cuse|eep|rç c|a|çes 626.49 179.88
Secu||t] c|a|çes 994.25 701.11
Cc¤pute| e·perses 714.54 791.79
Ccrve]arce arc t|ave|||rç e·perses 851.32 723.85
E|ect||c|t] c|a|çes 3,665.18 3,193.92
/cve|t|se¤ert arc puu||c|t] 2,439.93 1,c02.c1
Sa|es p|c¤ct|cr 1,769.58 1,872.31
C|a|çes cr c|ec|t ca|c t|arsact|crs 1,158.63 889.90
|ac||rç ¤ate||a|s 667.38 185.72
||cv|s|cr lc| Dcuutlu| ceuts/acvarces ~ 127.73
|c|e|çr e·c|arçe |css (ret} 37.06 ÷
Se|v|ce ta· |rput c|ec|t e·persec 1,732.14 753.37
V|sce||arecus e·perses 2,053.66 1,150.55
37,189.48 31,700.27
20. INIEßE8I ANß FINAN6E 6hAßßE8
|rte|est
0r l|·ec |cars l|c¤ uar|s 709.37 1,193.c5
0r ct|e| |cars 640.10 c90.51
||rarce c|a|çes 104.30 c0.19
1,453.77 2,211.35
21. Reta|| Iu|rcve| |r t|e ||cl|t arc lcss acccurt |rc|cates t|e ç|css vc|u¤es cl uus|ress arc cpe|at|crs.
22. Est|¤atec a¤curt cl ccrt|acts |e¤a|r|rç tc ue e·ecutec cr cap|ta| acccurt arc
rct p|cv|cec lc| 3,194.26 2,311.c3
23. 60NIINßENI IIAßIIIIIE8 IN ßE8FE6I 0F:
a} Cua|artee ç|ver lc| |car ta|er u] Jc|rt vertu|e cc¤par|es l|c¤ uar|s 1,338.57 1,190.00
u} C|a|¤s aça|rst t|e Cc¤par] rct ac|rcw|ecçec as ceuts cc¤p||se cl.
(|} D|sputec |rcc¤e ta· ¤atte|s |r appea| 535.91 215.12
(||} D|sputec sa|es ta· ¤atte|s |r appea| 16.46 128.c3
(|||} D|sputec Custc¤s Dut] 17.09 21.00
c} Ccrt|rçert ccrt|actua| c|a|¤s 236.19 23c.19
c} 0t|e|s 52.25 ÷
Noto: |utu|e cas| cutl|cws |r |espect cl (u} aucve a|e cete|¤|rau|e cr|] cr |ece|pt cl jucçe¤erts/cec|s|crs perc|rç w|t| va||cus
lc|u¤s/aut|c||t|es.
lotes to Fiuaucia| Statemeuts
for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 91
24. 8EßvI6E IAk
|u|suart tc |ev] cl se|v|ce ta· cr |ert|rç cl |¤¤cveau|e p|cpe|t|es ç|ver lc| cc¤¤e|c|a| use, |et|cspect|ve|] w|t| ellect l|c¤ 1 Jure
2007 u] t|e ||rarce /ct, 2010, t|e Cc¤par] |as, uasec cr a |eça| acv|ce,c|a||erçec t|e sa|c |ev] arc, |rte|-a||a, |ts |et|cspect|ve
app||cat|cr |r va||cus ||ç| Ccu|ts. /r |rte||¤ sta] |as ueer ç|artec u] va||cus ||ç| Ccu|ts l|c¤ |eccve|] cl t|e sa|c se|v|ce ta· arc
t|e ¤atte| |s perc|rç. /ccc|c|rç|], t|e Cc¤par] |as rct p|cv|cec lc| se|v|ce ta· açç|eçat|rç tc 1,c19 |acs lc| t|e |et|cspect|ve
pe||cc uptc 31 Va|c| 2010, w||c| w||| ue app|cp||ate|] |eccçr|sec cr l|ra| cete|¤|rat|cr.
25. 8EßMENI ßEF0ßIINß
I|e Cc¤par] |s p||¤a|||] erçaçec |r t|e uus|ress cl |eta|| t|ace t||cuç| |eta|| arc cepa|t¤erta| stc|e lac|||t|es |r |rc|a, w||c| |r t|e
te|¤s cl /cccurt|rç Starca|c 17 cr Seç¤ert Repc|t|rç, ccrst|tutes a s|rç|e |epc|t|rç seç¤ert.
Mar-11 Va|-10
26. IEA8INß IßAN8A6II0N8
a} 0pe|at|rç |ease |erta|s c|a|çec tc |everue. 10,246.67 9,c19.c9
u} Va||au|e |erta|s c|a|çec tc |everue. 4,899.83 1,033.18
Va||au|e |ert lc| ce|ta|r stc|es |s pa]au|e |r accc|carce w|t| t|e |ease aç|ee¤ert
as t|e ||ç|e| cl.
(a} l|·ec ¤|r|¤u¤ çua|artee a¤curt arc (u} |everue s|a|e pe|certaçe.
c} I|e lutu|e ¤|r|¤u¤ |erta| pa]¤erts |r |espect cl rcr-carce||au|e |ease lc|
p|e¤|ses a|e as lc||cws.
|ct |ate| t|ar cre ]ea| 7,217.73 7,227.99
late| t|ar cre ]ea| arc rct |ate| t|ar l|ve ]ea|s 11,237.03 11,208.51
late| t|ar l|ve ]ea|s 1,351.99 1,c11.51
I|e aç|ee¤erts a|e e·ecutec lc| pe||ccs |arç|rç l|c¤ 33 tc 288 ¤crt|s w|t| a rcr-carce||au|e pe||cc at t|e ueç|rr|rç cl
t|e aç|ee¤ert |arç|rç l|c¤ 33 tc 108 ¤crt|s arc |av|rç a |erewau|e c|ause.
27. (A} IAk 6hAßßE
I|e ta· e·perse lc| t|e ]ea| cc¤p||ses cl.
Mar-11 Va|-10
|rcc¤e-ta·
÷ Cu||ert ta· 3,735.00 1,811.97
÷ Dele||ec ta· 130.00 (155.00}
÷ Ia· acjust¤erts/p|cv|s|cr lc| ea|||e| ]ea|s ~ 181.01
3,865.00 1,513.98
27. (ß} ßEFEßßEß IAk A88EI (NEI}
Vajc| cc¤pcrerts cl Dele||ec Ia· /sset arc l|au|||t] a|e as lc||cws.
Dele||ec ta· ||au|||t]
0r l|sca| a||cwarces cr l|·ec assets 126.87 ÷
126.87 ÷
Dele||ec Ia· /ssets
0r l|sca| a||cwarces cr l|·ec assets ~ 281.27
0r p|cv|s|cr lc| ccuutlu| ceuts/acvarces 340.60 59.1c
0r l|sca| a||cwarces cr e·perc|tu|e w|er pa|c 111.27 111.27
451.87 155.00
Dele||ec ta· asset (|et} 325.00 155.00
lotes to Fiuaucia| Statemeuts
for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 95
(A|| amouots |o |acs, uo|oss othorw|so statod}
28. ßEIAIEß FAßI¥ ßI86I08üßE8
|c||cw|rç a|e t|e ¤ate||a| t|arsact|crs w|t| |e|atec pa|t|es
Naturo 8ubs|d|ar|os 6ompao|os uodor
commoo cootro|/
s|go|I|caot
|oI|uooco (roIor
(c} bo|ow}
Jo|ot
vooturos
koy
Maoagomoot
Forsoooo|
Iota|
Furchaso oI Assots 0.17 ÷ ÷ ÷ 0.17
Catewa] Vu|t|c|arre| Reta|| (|rc|a} l|¤|tec ÷ ÷ ÷ ÷ ÷
|]pe|c|t] Reta|| (|rc|a} l|¤|tec 0.17 ÷ ÷ ÷ ÷
(20.c8} (1.18} ÷ ÷ (25.1c}
8a|o oI Assots ÷ ÷ ÷ ÷ ÷
|]pe|c|t] Reta|| (|rc|a} l|¤|tec ÷ ÷ ÷ ÷ ÷
÷ (10.58} ÷ ÷ (10.58}
8a|o oI Morchaod|so 11.19 ÷ 38.12 ÷ 19.c1
|uarce C|cup (|rc|a} |||vate l|¤|tec ÷ ÷ 38.12 ÷ ÷
|]pe|c|t] Reta|| (|rc|a} l|¤|tec 11.19 ÷ ÷ ÷ ÷
÷ (1.29} (c9.01} ÷ (70.33}
Faymoot oI cooduct|og Ioos/Ioaso ßoot/
6ommoo Aroa Ma|otooaoco 6hargos
c2.95 1,1c5.08 ÷ ÷ 1,228.03
|vc|] ||cpe|t|es arc |cte|s |||vate l|¤|tec ÷ 1,178.22 ÷ ÷ ÷
|rc|u|t Va||s (|rc|a} |||vate l|¤|tec ÷ 2,200.05 ÷ ÷ ÷
|]pe|c|t] Reta|| (|rc|a} l|¤|tec 27.15 ÷ ÷ ÷ ÷
I||cr ||cpe|t|es |||vate l|¤|tec ÷ 78c.81 ÷ ÷ ÷
C|csswc|c Bcc|stc|es l|¤|tec 35.81 ÷ ÷ ÷ ÷
÷ (3,807.c8} ÷ ÷ (3,807.c8}
Expoosos Fa|d 123.59 8.1c ÷ ÷ 132.05
upasra I|ac|rç l|¤|tec ÷ ÷ ÷ ÷ ÷
C|csswc|c Bcc|stc|es l|¤|tec 9.77 ÷ ÷ ÷ ÷
|]pe|c|t] Reta|| (|rc|a} l|¤|tec 113.82 ÷ ÷ ÷ ÷
K. Ra|eja Cc|p. |||vate l|¤|tec ÷ 8.1c ÷ ÷ ÷
(c80.37} (109.c9} ÷ ÷ (790.0c}
ß|v|dood ßoco|vod 125.72 ÷ ÷ ÷ 125.72
C|csswc|c Bcc|stc|es l|¤|tec 125.72 ÷ ÷ ÷ ÷
÷ ÷ ÷ ÷ ÷
IraosIor oI ßus|ooss 2,c39.53 ÷ ÷ ÷ 2,c39.53
C|csswc|c Bcc|stc|es l|¤|tec 2,c39.53 ÷ ÷ ÷ ÷
÷ ÷ ÷ ÷ ÷
Iotorost ßoco|vod c19.75 ÷ 22.18 ÷ c12.23
|]pe|c|t] Reta|| (|rc|a} l|¤|tec c19.75 ÷ ÷ ÷ ÷
I|¤etcre Erte|ta|r¤ert |vt. ltc. ÷ ÷ 22.18 ÷ ÷
÷ (328.13} (18.3c} ÷ (31c.19}
Iotorost Expoosos 127.85 ÷ ÷ ÷ 127.85
C|csswc|c Bcc|stc|es l|¤|tec 127.85 ÷ ÷ ÷ ÷
|vc|] ||cpe|t|es arc |cte|s |||vate l|¤|tec ÷ ÷ ÷ ÷ ÷
(35.53} (1.85} ÷ ÷ (37.38}
lotes to Fiuaucia| Statemeuts
for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 9c
8orv|co 6hargos Fa|d 1.19 ÷ ÷ ÷ 1.19
upasra I|ac|rç l|¤|tec ÷ ÷ ÷ ÷ ÷
S|cppe|s Stcp Se|v|ces (|rc|a} l|¤|tec 1.19 ÷ ÷ ÷ ÷
(12.55} ÷ ÷ ÷ (12.55}
ßopos|ts Fa|d 3c.10 121.55 ÷ ÷ 157.95
|]pe|c|t] Reta|| (|rc|a} l|¤|tec 3c.10 ÷ ÷ ÷ ÷
I||cr ||cpe|t|es |||vate l|¤|tec ÷ 121.55 ÷ ÷ ÷
|rc|u|t Va||s (|rc|a} |||vate l|¤|tec ÷ ÷ ÷ ÷ ÷
÷ (330.22} ÷ ÷ (330.22}
ßo|mbursomoot oI Expoosos 7.c5 531.91 13.37 ÷ 552.9c
|uarce C|cup (|rc|a} |||vate l|¤|tec ÷ ÷ 13.37 ÷ ÷
|]pe|c|t] Reta|| (|rc|a} l|¤|tec 7.c5 ÷ ÷ ÷ ÷
|rc|u|t Va||s (|rc|a} |||vate l|¤|tec ÷ 151.35 ÷ ÷ ÷
I||cr ||cpe|t|es |||vate l|¤|tec ÷ 80.59 ÷ ÷ ÷
÷ (51c.05} (19.11} ÷ (535.1c}
Expoosos rocovorod 0.71 ÷ 21.22 ÷ 21.93
|]pe|c|t] Reta|| (|rc|a} l|¤|tec 0.71 ÷ ÷ ÷ ÷
Catewa] Vu|t|c|arre| Reta|| (|rc|a} l|¤|tec ÷ ÷ ÷ ÷ ÷
|uarce C|cup (|rc|a} |||vate l|¤|tec ÷ ÷ 21.22 ÷ ÷
(1.30} (350.08} ÷ ÷ (351.38}
Iovostmoots mado 11,3c1.32 ÷ 390.57 ÷ 11,751.89
|]pe|c|t] Reta|| (|rc|a} l|¤|tec ÷ Ecu|t]
S|a|es
17.12 ÷ ÷ ÷ ÷
|]pe|c|t] Reta|| (|rc|a} l|¤|tec ÷ ||ele|erce
S|a|es
11,311.20 ÷ ÷ ÷ ÷
I|¤etcre Erte|ta|r¤ert |||vate l|¤|tec ÷ ÷ 390.57 ÷ ÷
÷ (950.00} (1,272.89} ÷ (2,222.89}
ßopos|t roco|vod back ÷ 3c.11 ÷ ÷ 3c.11
Catewa] Vu|t|c|arre| Reta|| (|rc|a} l|¤|tec ÷ ÷ ÷ ÷ ÷
K. Ra|eja |||vate l|¤|tec ÷ ÷ ÷ ÷ ÷
|vc|] ||cpe|t|es arc |cte|s |||vate l|¤|tec ÷ 3c.11 ÷ ÷ ÷
K. Ra|eja |I |a|| (|]ce|auac} |||vate
l|¤|tec
÷ ÷ ÷ ÷ ÷
(2.31} (17.81} ÷ ÷ (20.12}
Ioao ß|voo 1c,c00.00 ÷ ÷ ÷ 1c,c00.00
|]pe|c|t] Reta|| (|rc|a} l|¤|tec 1c,c00.00 ÷ ÷ ÷ ÷
I|¤etcre Erte|ta|r¤ert |||vate l|¤|tec ÷ ÷ ÷ ÷ ÷
÷ (8,951.50} (200.00} ÷ (9,151.50}
Ioao ßoco|vod 1,980.00 ÷ ÷ ÷ 1,980.00
C|csswc|c Bcc|stc|es l|¤|tec 1,980.00 ÷ ÷ ÷ ÷
(2,095.00} ÷ ÷ ÷ (2,095.00}
(A|| amouots |o |acs, uo|oss othorw|so statod}
Naturo 8ubs|d|ar|os 6ompao|os uodor
commoo cootro|/
s|go|I|caot
|oI|uooco (roIor
(c} bo|ow}
Jo|ot
vooturos
koy
Maoagomoot
Forsoooo|
Iota|
lotes to Fiuaucia| Statemeuts
for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 97
Ioao ropa|d 3,180.00 ÷ ÷ ÷ 3,180.00
C|csswc|c Bcc|stc|es l|¤|tec 3,180.00 ÷ ÷ ÷ ÷
(595.00} ÷ ÷ ÷ (595.00}
ßocovory oI Ioao 8,212.c0 ÷ ÷ ÷ 8,212.c0
|]pe|c|t] Reta|| (|rc|a} l|¤|tec 8,237.50 ÷ ÷ ÷ ÷
Catewa] Vu|t|c|arre| Reta|| (|rc|a} l|¤|tec 5.10 ÷ ÷ ÷ ÷
(187.72} (5,955.00} ÷ ÷ (c,112.72}
Issuo oI 8haros ÷ 12,287.20 ÷ ÷ 12,287.20
Raç|u|cc| Estate Deve|cp¤ert |||vate
l|¤|tec
÷ 1,100.85 ÷ ÷ ÷
Capstar I|ac|rç |||vate l|¤|tec ÷ 1,100.85 ÷ ÷ ÷
Casa Va||a ||cpe|t|es |||vate l|¤|tec ÷ 1,085.50 ÷ ÷ ÷
÷ ÷ ÷ ÷ ÷
Advaoco to ß|roctors ÷ ÷ ÷ ÷ ÷
÷ ÷ ÷ (211.0c} (211.0c}
ßomuoorat|oo to ß|roctors ÷ ÷ ÷ 3c9.71 3c9.71
÷ ÷ ÷ (171.92} (171.92}
ßa|aoco outstaod|og at tho yoar ood
Fayab|o
upasra I|ac|rç l|¤|tec 98.11
(c5.07} C|.
ßoco|vab|os
S|cppe|s Stcp Se|v|ces (|rc|a} l|¤|tec 0.02
(2.c7} C|.
S|cppe|s Stcp.Cc¤ (|rc|a} l|¤|tec 0.02
(2.01} C|.
|]pe|c|t] Reta|| (|rc|a} l|¤|tec 12,7c1.15
(1,372.75} D|.
|vc|] ||cpe|t|es arc |cte|s |||vate l|¤|tec 1,010.33
(1,082.c2} D|.
|rc|u|t Va||s (|rc|a} |||vate l|¤|tec c10.51
(c15.8c} D|.
Catewa] Vu|t|c|arre| Reta|| (|rc|a} l|¤|tec 2,290.97
(2,29c.07} D|.
I|¤etcre Erte|ta|r¤ert |||vate l|¤|tec 201.c8
(201.91} D|.
|uarce C|cup (|rc|a} |||vate l|¤|tec 133.79
(109.5c} D|.
I||cr ||cpe|t|es |||vate l|¤|tec 337.95
(21c.10} D|.
C|csswc|c Bcc|stc|es l|¤|tec 8c1.81
(1,1c0.38} D|.
Ke] Varaçe¤ert |e|scrre| ÷
(211.0c} D|.
I|e l|çu|e |r u|ac|et pe|ta|r tc p|ev|cus ]ea|.
(A|| amouots |o |acs, uo|oss othorw|so statod}
Naturo 8ubs|d|ar|os 6ompao|os uodor
commoo cootro|/
s|go|I|caot
|oI|uooco (roIor
(c} bo|ow}
Jo|ot
vooturos
koy
Maoagomoot
Forsoooo|
Iota|
lotes to Fiuaucia| Statemeuts
for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 98
Namos oI ro|atod part|os aod doscr|pt|oo oI ro|at|oosh|p:
(a} Suus|c|a||es upasra I|ac|rç l|¤|tec, S|cppe|s Stcp.cc¤ (|rc|a} l|¤|tec,
S|cppe|s Stcp Se|v|ces (|rc|a} l|¤|tec, C|csswc|c Bcc|stc|es l|¤|tec.
Catewa] Vu|t|c|arre| Reta|| (|rc|a} l|¤|tec.
|]pe|c|t] Reta|| (|rc|a} l|¤|tec. (w.e.l. 30 Jure 2010}
(u} ||c¤cte| c||ectc|s |av|rç ccrt|c|/s|çr|l|cart
|rl|uerce cve| cc¤par|es statec |r (c} ue|cw
C. l. Ra|eja, Rav| C. Ra|eja, |ee| C. Ra|eja
(c} Cc¤par|es |r w||c| t|e pe|scrs statec |r (u} aucve
|ave ccrt|c|/s|çr|l|cart |rl|uerce
|vc|] ||cpe|t|es arc |cte|s |||vate l|¤|tec, K. Ra|eja Cc|p. |||vate l|¤|tec
K. Ra|eja |||vate l|¤|tec, |rc|u|t Va||s (|rc|a} |||vate l|¤|tec
/vacacc ||cpe|t|es arc I|ac|rç |rc|a |||vate l|¤|tec, K. Ra|eja |I |a||
(|]ce|auac} |||vate l|¤|tec
I||cr ||cpe|t|es |||vate l|¤|tec
(c} Jc|rt Vertu|es |uarce C|cup (|rc|a} |||vate l|¤|tec
I|¤etcre Erte|ta|r¤ert |||vate l|¤|tec
(e} Ke] Varaçe¤ert |e|scrre| E·ecut|ve D||ectc|. Ccv|rc S|||||arce
|cr E·ecut|ve D||ectc|s. C|arc|u l. Ra|eja
Rav| Ra|eja
|ee| Ra|eja
B. S. |açes|
Cu|u l. V||c|arcar|
S|a|taac Da|a|
||t|r Sarç|av|
Deepa| C|a|sas
|||v|| S|rç|
29. ßEßIvAIIvE8
a} I|e Cc¤par] uses lc|e|çr cu||erc] lc|wa|c ccrt|acts tc |ecçe |ts ||s|s asscc|atec w|t| lc|e|çr cu||erc] e·pcsu|es |e|at|rç
tc t|e urce||]|rç t|arsact|crs arc l||¤ cc¤¤|t¤erts. I|e cc¤par] cces rct erte| |rtc ar] ce||vat|ve |rst|u¤erts lc| t|ac|rç
arc specu|at|ve pu|pcses.
I|e lc||cw|rç a|e t|e cutstarc|rç |c|wa|c E·c|arçe Ccrt|acts erte|ec |rtc u] t|e Cc¤par] as at 31 Va|c| 2011
|a|t|cu|a|s Mar-11 Va|-10
|u¤ue| cl Ccrt|acts 3 1 5
I]pe Bu] Bu] Bu]
|c|e|çr cu||erc] (|r |acs} c.38 CB| 0.0c uSD c.2c CB|
||R Ecu|va|ert (|r |acs} 1c9.87 2.81 151.00
b} üohodgod Foro|go 6urroocy oxposuro
I|e ]ea| erc lc|e|çr cu||erc] e·pcsu|es t|at |ave rct ueer |ecçec u] a ce||vat|ve |rst|u¤ert c| ct|e|w|se a|e ç|ver ue|cw.
|a|t|cu|a|s Mar-11 Va|-10
Io |acs Io Foro|go
curroocy
|r |acs |r |c|e|çr
cu||erc]
|a]au|e lc| pu|c|ase cl Ve|c|arc|se 37.65 ßßF 49,886 211.33 CB| 3,c0,303
77.33 ü8ß 1,72,706 82.21 uSD 1,82,728
|a]au|e tcwa|cs Rc]a|t] 36.36 ü8ß 81,110 59.70 uSD 1,32,c1c
22.55 ßßF 31,061 31.92 CB| 17,0c5
Rece|vau|e cr acccurt cl Rc]a|t] ~ ~ 21.c7 CB| 31,9c0
lotes to Fiuaucia| Statemeuts
for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 99
30. E80F 86hEME8
Mar-11* Va|-10
a} |u¤ue| cl E¤p|c]ee
Stcc| 0pt|cr 0utstarc|rç.
Numbor oI
0pt|oos
Wo|ghtod avorago
oxorc|so pr|co
|u¤ue| cl
0pt|crs
We|ç|tec ave|açe
e·e|c|se p||ce
0utstarc|rç at t|e ueç|rr|rç cl t|e ]ea| 1,539,196 99.32 778,931 181.12
C|artec cu||rç t|e ]ea| ~ ~ 71c,100 185.91
lapsec/Carce||ec cu||rç t|e ]ea| 41,216 ~ 11,281 ÷
E·e|c|sec cu||rç t|e ]ea| 338,148 85.97 18,521 20c.52
Su||erce|ec cu||rç t|e ]ea| ~ ~ c32,931 ÷
0utstarc|rç at t|e erc cl t|e ]ea| 1,159,832 101.78 7c9,598 198.c3
' /cjustec lc| suuc|v|s|cr cl s|a|es (see |cte 3c}
b} Now 8chomos Iauochod
|c rew e¤p|c]ees s|a|e uasec pa]¤ert p|ars we|e lc|¤u|atec cu||rç t|e ]ea|. I|e cc¤persat|cr ccst cl stcc| cpt|crs
ç|artec tc e¤p|c]ees |s ca|cu|atec us|rç t|e |rt||rs|c va|ue cl t|e stcc| cpt|crs.
2010-11 2009-10
Date cl ç|art ~ ~ 29.01.2009 21.03.2010
|u¤ue| cl cpt|cr ç|artec ~ ~ 51c,100 200,000
Ccrt|actua| ||le ~ ~ c ]ea|s
2 ¤crt|s
c ]ea|s
Vest|rç Sc|ecu|e
(l|c¤ t|e cate cl ç|art}
|||st Yea| ~ ~ 30º 30º
Seccrc Yea| ~ ~ 30º 30º
I|||c Yea| ~ ~ 10º 10º
Vet|cc cl sett|e¤ert ~ ~ Ecu|t] Ecu|t]
Est|¤atec |a|| Va|ues (/|||vec at u]
app|]|rç B|ac| Sc|c|es 0pt|cr
|||c|rç Vcce|}
~ ~ 12.13 171.05
Vcce| |rputs (s|a|e p||ce at
t|e ç|art cate}
~ ~ 111.50 379.10
E·e|c|se |||ce ~ ~ 110.00 382.00
E·pectec Vc|at|||t] ~ ~ 17.92º 53.32º
R|s| l|ee |ate cl |etu|r ~ ~ 5.38º÷7.38º
c} I|e we|ç|tec ave|açe ccrt|actua| ||le cl t|e cpt|crs cutstarc|rç |s 1.12 ]ea|s
c} 0t|e| |rlc|¤at|cr |eça|c|rç e¤p|c]ee s|a|e-uasec pa]¤ert p|ars |s as ue|cw .-
Mar-11 Va|-10
|} E·perse a||s|rç l|c¤ e¤p|c]ee s|a|e uasec pa]¤ert p|ars ~ ÷
||} |¤pact cr |/I |l la|| va|ue ¤et|cc |ac ueer usec |rsteac cl
|rt||rs|c Va|ue Vet|cc
256.93 1,088.39
|||} E|S |l la|| va|ue ¤et|cc |ave ueer usec |rsteac cl
|rt||rs|c Va|ue Vet|cc (}
÷ Bas|c 9.84 8.05
÷ D||utec 9.74 7.95
|v} ES0| 0utstarc|rç 5.10 20.11
0per|rç Ba|arce 20.14 31.82
less. I|arsle| tc secu||t|es p|e¤|u¤ cr e·e|c|se cl cpt|crs (13.09} (8.25}
less. 0pt|crs |apsec cu||rç t|e ]ea| (1.95} (3.13}
5.10 20.11
lotes to Fiuaucia| Statemeuts
for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 100
31. EAßNINß FEß 8hAßE (EF8} I8 6AI6üIAIEß A8 F0II0W8: (A|so soo Noto 36}
Fart|cu|ars Mar-11 Va|-10
(a} ||cl|t att||uutau|e tc ecu|t] s|a|e |c|ce|s ( |r |acs} 7,517.58 5,023.05
(u} We|ç|tec |u¤ue| cl ecu|t] s|a|es cutstarc|rç cu||rç t|e ]ea| (see rcte 3c} 78,998,136 75,939,c39
(c} We|ç|tec |u¤ue| cl ecu|t] s|a|es cutstarc|rç cu||rç t|e ]ea| alte|
acjust¤ert lc| c||ut|cr (see rcte 3c}
79,817,199 7c,8cc,800
(c} |c¤|ra| va|ue pe| s|a|e (} 5 5
(e} E|S.
Bas|c (} 9.52 c.c1
D||utec (} 9.42 c.53
32. INIEßE8I IN J0INI vENIüßE8:
I|e Cc¤par]s |rte|ests, as a vertu|e|, |r a jc|rt|] ccrt|c||ec ert|t|es a|e as lc||cws.
(A|| amouots |o |acs, uo|oss othorw|so statod}
Namo Fr|oc|pa| Act|v|t|os Froport|oo oI owoorsh|p Iotorost
31 March 2011 aod 31 March 2010
|uarce C|cup (|rc|a} |||vate l|¤|tec /||pc|t |eta|||rç 50º
I|¤etcre Erte|ta|r¤ert |||vate l|¤|tec Erte|ta|r¤ert 1c.89º (2010, 15º}
I|e Cc¤par]s s|a|e |r t|e assets, ||au|||t|es, |rcc¤e arc e·perses (eac| w|t|cut e||¤|rat|cr cl |rte| cc¤par] t|arsact|crs}
|e|atec tc |ts |rte|est |r t|e jc|rt vertu|es a|e.
Mar-11 Va|-10
I. A88EI8
1. ||·ec /ssets |rc|uc|rç cap|ta| wc||-|r-p|cç|ess (|et} 1,359.52 1,939.77
2. |rvest¤erts ~ 0.02
3. Cu||ert /ssets, lcar arc /cvarces
a} |rvertc||es 665.20 915.80
u} Surc|] Deutc|s 104.02 112.52
c} Cas| arc Bar| Ba|arces 442.25 119.19
c} lcars arc /cvarces 1,330.38 1,807.30
II. IIAßIIIIIE8
1. lcar |urcs
a} Secu|ec lcar 1,046.15 2,27c.01
u} ursecu|ec lcars 94.51 90.83
2. Cu||ert l|au|||t|es arc ||cv|s|crs
a} l|au|||t|es 1,505.94 1,111.30
u} ||cv|s|crs 26.88 23.12
III. IN60ME
Reverue 4,410.33 1,112.50
Iv. EkFEN8E8
0pe|at|cra| E·perses 4,324.89 1,81c.27
|rte|est 219.77 338.31
Dep|ec|at|cr//¤c|t|sat|cr 439.14 5c1.21
v. 60NIINßENI IIAßIIIIIE8 439.90 1c1.82
Noto: I|e cc¤par]s s|a|e |r t|e assets, ||au|||t|es, |rcc¤e arc e·perses |r |uarce C|cup (|rc|a} |||vate l|¤|tec |s uasec cr t|e
auc|tec l|rarc|a|s lc| t|e ]ea| ercec 31 Dece¤ue| 2010.
lotes to Fiuaucia| Statemeuts
for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 101
(A|| amouots |o |acs, uo|oss othorw|so statod}
33. EMFI0¥EE ßENEFII8 Mar-11 Va|-10
Fost-omp|oymoot boooI|ts
Del|rec ccrt||uut|cr p|ars
Cc¤par]s ccrt||uut|cr tc ||cv|cert |urc 432.78 3c8.87
ßoI|ood boooI|t schomo-ßratu|ty
I. 6ompoooot oI Emp|oyor Expooso
Cu||ert Se|v|ce Ccst 85.65 c9.27
|rte|est Ccst 19.71 20.c1
E·pectec Retu|r cr ||ar assets (21.15} (20.17}
/ctua||a| lcsses 94.57 18.2c
178.78 87.c7
II. 6haogo |o ßoI|ood ßoooI|t 0b||gat|oos (ßß0}
||esert Va|ue cl DB0 at t|e Beç|rr|rç cl |e||cc 262.51 280.13
Cu||ert Se|v|ce Ccst 85.65 c9.27
|rte|est Ccst 19.71 20.c1
/ctua||a| lcsses 97.86 1.81
Berel|ts pa|c/t|arsle||ec (43.91} (109.c1}
||esert Va|ue cl DB0 at t|e Erc cl |e||cc 421.82 2c2.51
III. 6haogo |o Fa|r va|uo oI Assots
||ar /ssets at t|e Beç|rr|rç cl |e||cc 262.51 280.13
E·pectec Retu|r cr ||ar /ssets 21.15 20.17
/ctua||a| Ca|rs/(lcsses} 3.29 (1c.15}
/ctua| Cc¤par] Ccrt||uut|cr 89.94 87.c7
Berel|ts pa|c/t|arsle||ec (43.91} (109.c1}
||ar /ssets at t|e Erc cl |e||cc 332.98 2c2.51
Iv. Not Assot/(I|ab|||ty} ßocogo|sod |o ßa|aoco 8hoot
||esert Va|ue cl Del|rec Berel|t 0u||çat|cr 421.82 2c2.51
|a|| Va|ue cl ||ar /ssets 332.98 2c2.51
Status [Su|p|us/(Del|c|t}[ (88.84} ÷
ur|eccçr|sec |ast Se|v|ce Ccst ~ ÷
|et /sset/(l|au|||t]} Reccçr|sec |r Ba|arce S|eet (88.84} ÷
v. Actuar|a| assumpt|oos
D|sccurt Rate 8.00% p.a. 7.50º p.a.
E·pectec Retu|r cr ||ar /ssets 8.00% p.a. 8.00º p.a.
Rate cl |rc|ease |r sa|a||es 4.00% p.a. 1.00º p.a.
Rate cl /tt||t|cr 13.76% p.a. 13.7cº p.a.
vI. Not Assot/(I|ab|||ty} rocogo|sod |o ßa|aoco 8hoot (|oc|ud|og oxpor|ooco adjustmoot |mpact}
31 March 2011 31 March 2010 31 March 2009 31 March 2008
||esert Va|ue cl t|e Del|rec Berel|t 0u||çat|cr 121.82 2c2.51 280.13 192.c0
|a|| Va|ue cl t|e ||ar /ssets 332.98 2c2.51 280.13 192.c0
Su|p|us/(Del|c|t} |r t|e ||ar (88.81} ÷ ÷ ÷
E·pe||erce /cjust¤erts a||s|rç cr ||ar
l|au|||t|es ÷ lcsses/(Ca|rs}
108.c9 (19.15} (0.11} ÷
E·pe||erce /cjust¤erts a||s|rç cr ||ar
/ssets ÷ Ca|rs/(lcsses}
3.29 (1c.15} (15.81} ÷
lotes to Fiuaucia| Statemeuts
for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 102
I|e cc¤par] e·pects tc ccrt||uute 101.05 |acs tc |ts C|atu|t] p|ar lc| t|e re·t ]ea|.
|r assess|rç t|e Cc¤par]s |cst Ret||e¤ert l|au|||t|es, t|e Cc¤par] ¤cr|tc|s ¤c|ta||t] assu¤pt|crs arc uses up-tc-cate ¤c|ta||t]
tau|es. I|e uase ue|rç t|e l|C 1991-9c u|t|¤ate tau|es.
E·pectec |etu|r cr p|ar assets |s uasec cr e·pectat|cr cl t|e ave|açe |crç-te|¤ |ate cl |etu|r e·pectec cr |rvest¤erts cl t|e lurc
cu||rç t|e est|¤atec te|¤ cl t|e cu||çat|crs.
I|e est|¤ates cl lutu|e sa|a|] |rc|eases ccrs|ce|ec |r actua||a| va|uat|cr ta|e acccurt cl |rl|at|cr, ser|c||t], p|c¤ct|cr arc ct|e|
|e|evart lactc|s, suc| as supp|] arc ce¤arc |r t|e e¤p|c]¤ert ¤a||et.
I|e ç|atu|t] uerel|t sc|e¤e cl t|e Cc¤par] |s ¤araçec u] l|le |rsu|arce Cc|pc|at|cr cl |rc|a (l|C}. I|e Cc¤par] |s cu||ert|] awa|t|rç
t|e ceta||s cl t|e cc¤pcs|t|cr cl t|e p|ar assets, u] cateçc|], l|c¤ t|e l|C lc| t|e cu||ert arc t|e p|ev|cus ]ea|s arc |erce t|e
c|sc|csu|es as |ecu||ec u] /cccurt|rç Starca|c (/S} 15 cr E¤p|c]ee Berel|ts |ave rct ueer ç|ver.
(A|| amouots |o |acs, uo|oss othorw|so statod}
Mar-11 Va|-10
34. 8üFFIEMENIAߥ 8IAIüI0ߥ ßAIA
a} Va|ue cl |¤pc|ts cr C|| Bas|s.
Cc¤pute| scltwa|e arc |a|cwa|e 93.90 51.29
Cap|ta| Ccccs 325.52 100.01
|u|c|ase cl Ve|c|arc|se 3,909.31 2,208.15
4,328.73 2,cc2.18
u} E·perc|tu|e |r lc|e|çr cu||erc] (cr pa]¤ert uas|s}.
Ccrsu|tarc] 91.36 10c.70
||cless|cra| lees 91.63 28.21
Rc]a|t] 175.88 151.c5
Cc¤¤|ss|cr pa|c tc D||ectc|s 4.00 ÷
S|tt|rç lees pa|c tc D||ectc|s 1.20 ÷
0t|e|s 122.39 135.00
486.47 721.55
c} Ea|r|rçs |r lc|e|çr e·c|arçe (0r |ece|pt uas|s}.
|c|e|çr cu||erc] arc lc|e|çr c|ec|t ca|c cc||ect|cr cr sa|e cl ¤e|c|arc|se 4,487.10 1,1c1.29
Rc]a|t] ~ c0.11
4,487.10 1,221.11
c} |a]¤erts tc /uc|tc|s (e·c|uc|rç se|v|ce ta·}.
|} /uc|t lees 28.75 25.00
||} 0t|e| ¤atte|s 18.25 2.00
|||} 0ut cl pcc|et e·perses 0.12 0.28
47.12 27.28
e} D||ectc|s Re¤ure|at|cr
Sa|a|], a||cwarce arc ucrus 329.53 12c.15
Ccrt||uut|cr tc ||cv|cert arc ct|e| |urcs 12.96 7.7c
Cc¤¤|ss|cr tc rcr-w|c|et|¤e c||ectc|s 21.00 10.00
|e|cu|s|tes 6.22 10.71
369.71 181.92
Noto:
I|e aucve e·c|uces ccrt||uut|cr tc app|cvec ç|atu|t] lurc arc p|cv|s|cr lc| |eave ercas|¤ert w||c| a|e actua||a||] cete|¤|rec
cr ar cve|a|| cc¤par] uas|s.
lotes to Fiuaucia| Statemeuts
for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 103
(A|| amouots |o |acs, uo|oss othorw|so statod}
Mar-11 Va|-10
l} Cc¤putat|cr cl |et ||cl|t |r accc|carce w|t| Sect|cr 198 cl t|e Cc¤par|es
/ct,195c arc t|e cc¤¤|ss|cr pa]au|e tc c||ectc|s.
||cl|t Belc|e Ia· 11,382.58 c,5c7.03
/cc .
Dep|ec|at|cr as pe| ucc|s 3,099.88 3,102.51
||cl|t cr sa|e cl l|·ec assets (37.22} (117.29}
D||ectc|s Re¤ure|at|cr 369.71 181.92
||cv|s|cr lc| Dcuutlu| Deuts//cvarces ~ 127.73
14,814.95 10,131.93
less.
Dep|ec|at|cr as pe| Sect|cr 350 cl t|e Cc¤par|es /ct, 195c 2,948.43 3,287.21
Reccve|] cl ccuutlu| acvarces 5.10 187.72
||cl|t cr sa|e cl l|·ec assets urce| Sect|cr 319 8.83 100.91
E·cess cl e·perc|tu|e cve| |rcc¤e cl p|ev|cus ]ea| ~ 312.55
||cl|t lc| t|e pu|pcse cl D||ectc|s Re¤ure|at|cr 11,852.59 c,51c.51
Cc¤¤|ss|cr tc |cr-W|c|et|¤e D||ectc|s _ 1º 118.53 c5.17
Cc¤¤|ss|cr pa]au|e tc |cr-W|c|et|¤e D||ectc|s 21.00 10.00
ç} 0uart|tat|ve ceta||s cl cper|rç stcc|, pu|c|ases, sa|es arc c|cs|rç stcc| (e·c|uc|rç ccrs|çr¤ert ¤e|c|arc|se}
|c| t|e ]ea| ercec 31 Va|c| 2011. (0uart|t] |r 000s}
6atogory üo|ts
0poo|og stock Furchasos IraosIor oI stock oo
sa|o oI bus|ooss
8a|os 6|os|og stock*
ûuaot|ty Amouot ûuaot|ty Amouot ûuaot|ty Amouot ûuaot|ty Amouot ûuaot|ty Amouot
Apparo|s Nos. 2,169 8,436.27 12,834 61,623.24 ~ ~ 12,408 99,558.66 2,423 9,959.92
Noo-
Apparo|s
Nos. 2,204 6,553.05 9,776 49,726.89 1,457 2,325.06 9,341 3,024.46 1,119 5,153.74
4,373 14,989.32 22,610 111,350.13 1,457 2,325.06 21,749 172,583.12 3,542 15,113.66
|c| t|e ]ea| ercec 31 Va|c| 2010.
Cateçc|] ur|ts
0per|rç stcc| |u|c|ases Sa|es C|cs|rç stcc|'
0uart|t] /¤curt 0uart|t] /¤curt 0uart|t] /¤curt 0uart|t] /¤curt
/ppa|e|s |cs. 1,995 8,278.50 10,870 18,099.17 10,513 80,5c0.58 2,1c9 8,13c.27
|cr-/ppa|e|s |cs. 2,0c8 c,219.c0 9,507 11,388.28 9,257 c1,023.17 2,201 c,553.05
1,0c3 11,198.10 20,377 89,187.15 19,770 111,583.75 1,373 11,989.32
'C|cs|rç stcc| |s alte| acjust|rç sa¤p|es, l|ee ç|lts, ca¤açec çcccs arc s|c|taçes at stc|es.
35. Ek6EFII0NAI IIEM
I|e Bca|c cl D||ectc|s cl Catewa] Vu|t|c|arre| Reta|| (|rc|a} l|¤|tec (Catewa]} |ac |r Jarua|] 2009 cec|cec tc c|sccrt|rue
cpe|at|crs arc t|e cc¤par] |ac t|e|elc|e ¤ace a p|cv|s|cr lc| |ts |rvest¤erts arc |cars arc acvarces açç|eçat|rç tc 2,18c.10
|acs |r t|e p|ev|cus ]ea|. I|e |¤pa||¤ert c|a|çe was c|sc|csec as ar E·cept|cra| |te¤ |r t|e ||cl|t arc lcss /cccurt. Du||rç t|e
]ea| t|e Cc¤par] |as |eccve|ec 5.10 |acs l|c¤ Catewa] arc |as accc|c|rç|] c|sc|csec t|e c|ec|t as ar E·cept|cra| |te¤.
3c. I|e Bca|c cl D||ectc|s arc s|a|e|c|ce|s cl t|e Cc¤par] at t|e|| ¤eet|rçs |e|c cr 0ctcue| 29, 2010 arc Dece¤ue| 23, 2010
|espect|ve|] app|cvec suu-c|v|s|cr cl ecu|t] s|a|e cl 10/- eac| |rtc twc ecu|t] s|a|es cl 5/- eac|. I|e Cc¤par] l|·ec Jarua|] 13,
2011 as t|e Recc|c Date, lc| t|e sa|c suu-c|v|s|cr arc as cr cate, t|e ecu|t] s|a|es cl t|e cc¤par] we|e suu-c|v|cec. /ccc|c|rç|],
t|e uas|c arc c||utec E|S lc| t|e cu||ert arc p||c| ]ea| |ave ueer cc¤putec cr t|e uas|s cl t|e sa|c suu-c|v|s|cr.
lotes to Fiuaucia| Statemeuts
for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 101
37 (|} Du||rç t|e ]ea|, t|e Cc¤par] |as s|¤u|tarecus|] a||cttec 20,00,000 ecu|t] s|a|es tc 0ua||l|ec |rst|tut|cra| Bu]e|s (0|Bs} arc
10,00,000 ecu|t] s|a|es tc ||c¤cte|s pu|suart tc t|e ccrve|s|cr cl cpt|cra||] ccrve|t|u|e wa||arts lc| ar açç|eçate |ssue p||ce
cl 12,980 |acs arc 12,287.20 |acs ( 3,071.80 |acs |ece|vec |r 2010 ue|rç 25º cl tcta| p||ce} |espect|ve|]. I|e p|e¤|u¤
|ece|vec açç|eçatec 21,cc7.20 |acs.
(||} |r te|¤s cl Secu||t|es arc E·c|arçe Bca|c cl |rc|a (|ssue cl Cap|ta| arc D|sc|csu|es Recu||e¤erts} Reçu|at|crs, 2009 p|cceecs
l|c¤ t|e |ssue tc 0|Bs |as ueer ut|||sec as urce|.
( |r |acs}
Fart|cu|ars üt|||sat|oo
|rte|-Cc|pc|ate lcar 1,500.00
Repa]¤ert cl lcars/Cas| C|ec|t 8,180.00
Iota| 12,980.00
38. 0r acccurt cl te|¤|rat|cr cl t|e l|arc||see aç|ee¤ert w|t| C|csswc|c Bcc|stc|es ltc. (CBl}, a w|c||]-cwrec suus|c|a|] cl t|e
Cc¤par], t|e cpe|at|crs cl 'C|csswc|c |ave ueer |arcec cve| tc C|csswc|c Bcc|stc|es l|¤|tec w|t| ellect l|c¤ 0ctcue| 1, 2010
at ucc| va|ues. /ccc|c|rç|], l|çu|es lc| t|e p|ev|cus ]ea| a|e rct cc¤pa|au|e w|t| t|cse cl t|e cu||ert ]ea|.
39. I|e Cc¤par] |as l|rarc|a| |rvc|ve¤ert |r a suus|c|a|] cc¤par], ra¤e|] |]pe|c|t] Reta|| (|rc|a} l|¤|tec arc jc|rt vertu|e cc¤par|es,
ra¤e|] |uarce C|cup (|rc|a} |||vate l|¤|tec arc I|¤etcre Erte|ta|r¤ert |||vate l|¤|tec, as lc||cws.
( |r |acs}
Namo oI tho 6ompaoy Iovostmoot |o Equ|ty
aod FroIorooco 6ap|ta|
Ioaos aod Advaocos Iota| Iovo|vomoot
|]pe|c|t] Reta|| (|rc|a} l|¤|tec 15,371.81 12,5c5.51 27,937.35
|uarce C|cup (|rc|a} |||vate l|¤|tec 3,c11.00 ÷ 3,641.00
I|¤etcre Erte|ta|r¤ert |||vate l|¤|tec 1,199.19 201.c8 1,401.17
I|e |etwc|t| cl t|ese cc¤par|es |ave ueer suustart|a||] e|ccec arc t|ese cc¤par|es ccrt|rue tc ¤a|e |csses. Basec cr t|e
uus|ress p|ars cl t|ese cc¤par|es arc t|e va|uat|cr cl uus|resses u] ar |rcepercert va|ue|, rc p|cv|s|cr lc| ar] |css |s cu||ert|]
ccrs|ce|ec recessa|] |r t|ese l|rarc|a| state¤erts.
10a. Du||rç t|e ]ea|, t|e ra¤e cl t|e Cc¤par] was c|arçec l|c¤ S|cppe|'s Stcp l|¤|tec tc S|cppe|s Stcp l|¤|tec.
10u. ||çu|es cl t|e p|ev|cus ]ea| a|e |eç|cupec, w|e|e recessa|], tc ccrlc|¤ tc t|cse cl t|e cu||ert ]ea|.
lotes to Fiuaucia| Statemeuts
for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 105
I. ßog|strat|oo ßota||s:
Reç|st|at|cr |c. State Ccce
Ba|arce S|eet Date
II. 6ap|ta| ra|sod dur|og tho yoar (Amouot |o Ihousaods}:
|uu||c |ssue R|ç|t |ssue
0ua||l|ec |rst|tut|cra| ||ace¤erts 0pt|cra||] Ccrve|t|u|e Wa||arts
Bcrus |ssue
III. Fos|t|oo oI Mob|||sat|oo aod ßop|oymoot oI Fuods (Amouots |o Ihousaods}:
Icta| l|au|||t|es Icta| /ssets
8ourcos oI Fuods
|a|c-up Cap|ta| Rese|ves c Su|p|us
Secu|ec lcars
App||cat|oo oI Fuods
|et ||·ec /ssets |rvest¤erts
|et Cu||ert /ssets Dele||ec Ia· /ssets
/ccu¤u|atec lcsses V|sc. E·perc|tu|e
Iv. ForIormaoco oI 6ompaoy (Amouot |o Ihousaods}:
Iu|rcve| (C|css Reverue} Icta| E·perc|tu|e
÷ ÷ ||cl|t/lcss Belc|e Ia· ÷ ÷ ||cl|t/lcss /lte| Ia·
(||ease t|c| /pp|cp||ate uc· ÷ lc| ||cl|t ÷ lc| lcss}
Ea|r|rçs pe| S|a|e |r D|v|cerc
v. ßooor|c Namos oI Ihroo Fr|oc|pa| Froducts/8orv|cos oI 6ompaoy (as por Moootary Iorms}:
|te¤ Ccce |c. (|IC Ccce}
||ccuct Desc||pt|cr
|te¤ Ccce |c. (|IC Ccce}
||ccuct Desc||pt|cr
|te¤ Ccce |c. (|IC Ccce}
||ccuct Desc||pt|cr
÷ ÷ ÷
1 1
1 1 0 3 3 1
Y e a | Vcrt| D a t e
1 1 - 1 0 8 7 9 8
÷ ÷ ÷
9 2 1 5 1 0
7 1 c 8 2 3 9
5 5 7 0 1 8 8
2 3 7 1 9 3 1
1 c 0 5 3 7 1 3
7 5 1 7 5 8
3 2 5 0 0
÷ ÷
1 2 9 8 0 0 0
÷ ÷ ÷
ß. 8. Nagosh ßav| ßahoja ßov|od 8. 8hr|khaodo
V|ce C|a||¤ar D||ectc| Custc¤e| Ca|e /sscc|ate c
Varaç|rç D||ectc|
6. ß. Nava|kar Frashaot Mohta
Custc¤e| Ca|e /sscc|ate c Custc¤e| Ca|e /sscc|ate c
C|cup C||el ||rarc|a| 0ll|ce| Cc¤par] Sec|eta|] c
Vu¤ua|, Datec . 29 /p|||, 2011 V|ce ||es|cert - leça|
7 1 c 8 2 3 9
1 1 0 8 3 1
1 1 8 7 2 1 7
3 5 c 7 8 8 1
1 1 9 5 9 2 1
÷ ÷ ÷
1 7 1 9 1 9 7 1
1 1 3 8 2 5 8 ÷ ÷
9 . 5 2 1 5 º
| /
| /
| /
8a|auce Sheet Abstract aud
Compauy's 6euera| 8usiuess Profi|e Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 10c
Fiuaucia| luformatiou of Subsidiary Compauies
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Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 107
/rrua| Repc|t 2010-11 | 109
8hoppors 8top I|m|tod
6ooso||datod F|oaoc|a| 8tatomoots
2010-11
Ic,
I|e Bca|c cl D||ectc|s cl S|cppe|s Stcp l|¤|tec
1. We |ave auc|tec t|e attac|ec Ccrsc||catec Ba|arce S|eet cl S|cppe|s Stcp l|¤|tec (t|e Cc¤par]} arc |ts suus|c|a||es arc jc|rt
vertu|e cc¤par|es (t|e C|cup} as at 31 Va|c| 2011, arc a|sc t|e Ccrsc||catec ||cl|t arc lcss /cccurt arc t|e Ccrsc||catec
Cas| ||cw State¤ert lc| t|e ]ea| ercec cr t|at cate, uct| arre·ec t|e|etc. I|e Ccrsc||catec ||rarc|a| State¤erts a|e t|e
|espcrs|u|||t] cl t|e Cc¤par]'s Varaçe¤ert arc |ave ueer p|epa|ec u] t|e Varaçe¤ert cr t|e uas|s cl sepa|ate l|rarc|a|
state¤erts arc ct|e| l|rarc|a| |rlc|¤at|cr |eça|c|rç cc¤pcrerts. 0u| |espcrs|u|||t] |s tc e·p|ess ar cp|r|cr cr t|ese Ccrsc||catec
||rarc|a| State¤erts uasec cr cu| auc|t.
2. We ccrcuctec cu| auc|t |r accc|carce w|t| t|e auc|t|rç starca|cs çere|a||] acceptec |r |rc|a. I|cse Starca|cs |ecu||e t|at we p|ar
arc pe|lc|¤ t|e auc|t tc cuta|r |eascrau|e assu|arce aucut w|et|e| t|e l|rarc|a| state¤erts a|e l|ee cl ¤ate||a| ¤|sstate¤erts.
/r auc|t |rc|uces e·a¤|r|rç, cr a test uas|s, ev|cerce suppc|t|rç t|e a¤curts arc t|e c|sc|csu|es |r t|e l|rarc|a| state¤erts.
/r auc|t a|sc |rc|uces assess|rç t|e acccurt|rç p||rc|p|es usec arc s|çr|l|cart est|¤ates ¤ace u] t|e Varaçe¤ert, as we|| as
eva|uat|rç t|e cve|a|| l|rarc|a| state¤ert p|esertat|cr. We ue||eve t|at cu| auc|t p|cv|ces a |eascrau|e uas|s lc| cu| cp|r|cr.
3. We c|c rct auc|t t|e l|rarc|a| state¤erts cl ce|ta|r suus|c|a||es arc a jc|rt vertu|e w|cse l|rarc|a| state¤erts |el|ect t|e C|cup's
s|a|e cl tcta| assets cl c,8c8 |acs as at 31 Va|c| 2011, arc t|e C|cup's s|a|e cl tcta| |everues cl 5,c57 |acs lc| t|e ]ea|
ercec cr t|at cate, arc ret cas| |rl|cws a¤curt|rç tc 1c1 |acs lc| t|e ]ea| ercec cr t|at cate as ccrs|ce|ec |r t|e Ccrsc||catec
||rarc|a| State¤erts. I|ese l|rarc|a| state¤erts arc ct|e| l|rarc|a| |rlc|¤at|cr |ave ueer auc|tec u] ct|e| auc|tc|s w|cse
|epc|ts |ave ueer lu|r|s|ec tc us, arc cu| cp|r|cr, |r sc la| as |t |e|ates tc t|e a¤curts |rc|ucec |r |espect cl t|ese suus|c|a||es
arc t|e jc|rt vertu|e, |s uasec sc|e|] cr t|e |epc|ts cl t|e ct|e| auc|tc|s.
1. W|t|cut cua||l]|rç cu| cp|r|cr, attert|cr |s |rv|tec tc |cte 22 cl t|e Ccrsc||catec ||rarc|a| State¤erts |eça|c|rç rcr-p|cv|s|cr
cl se|v|ce ta· lc| t|e pe||cc 1 Jure 2007 tc 31 Va|c| 2010 cr |ert|rç cl |¤¤cveau|e p|cpe|t|es ç|ver lc| cc¤¤e|c|a| use,
açç|eçat|rç 2,027 |acs. I|e |et|cspect|ve |ev] cl se|v|ce ta· |as, |rte|-a||a, ueer c|a||erçec u] t|e Cc¤par] |r va||cus ||ç|
Ccu|ts arc ar |rte||¤ sta] |as ueer ç|artec u] t|e va||cus ||ç| Ccu|ts l|c¤ t|e |eccve|] cl t|e sa|c se|v|ce ta·. I|e ¤atte| |s
ccrt|rçert upcr t|e l|ra| cutcc¤e cl t|e ||t|çat|cr.
5. We |epc|t t|at t|e Ccrsc||catec ||rarc|a| State¤erts |ave ueer p|epa|ec u] t|e Cc¤par]'s Varaçe¤ert |r accc|carce w|t| t|e
|ecu||e¤erts cl /cccurt|rç Starca|c 21, Ccrsc||catec ||rarc|a| State¤erts, arc /cccurt|rç Starca|c 27, ||rarc|a| Repc|t|rç cl
|rte|ests |r Jc|rt Vertu|es as rct|l|ec urce| t|e Cc¤par|es (/cccurt|rç Starca|cs} Ru|es, 200c.
c. Basec cr cu| auc|t arc cr ccrs|ce|at|cr cl |epc|ts cl ct|e| auc|tc|s cr sepa|ate l|rarc|a| state¤erts arc cr t|e ct|e| l|rarc|a|
|rlc|¤at|cr cl t|e cc¤pcrerts, |r cu| cp|r|cr arc tc t|e uest cl cu| |rlc|¤at|cr arc accc|c|rç tc t|e e·p|arat|crs ç|ver tc us,
t|e Ccrsc||catec ||rarc|a| State¤erts ç|ve a t|ue arc la|| v|ew |r ccrlc|¤|t] w|t| t|e acccurt|rç p||rc|p|es çere|a||] acceptec
|r |rc|a.
(|} |r t|e case cl t|e Ccrsc||catec Ba|arce S|eet, cl t|e state cl alla||s cl t|e C|cup as at 31 Va|c|, 2011,
(||} |r t|e case cl t|e Ccrsc||catec ||cl|t arc lcss /cccurt, cl t|e p|cl|t cl t|e C|cup lc| t|e ]ea| ercec cr t|at cate, arc
(|||} |r t|e case cl t|e Ccrsc||catec Cas| ||cw State¤ert, cl t|e cas| l|cws cl t|e C|cup lc| t|e ]ea| ercec cr t|at cate.
For ßo|o|tto hask|os 8 8o||s
C|a|te|ec /cccurtarts
(Reç|st|at|cr |c. 1173ccW}
8hyamak ß. Iata
|a|tre|
(Ve¤ue|s||p |c. 38320}
||ace. Vu¤ua|
Date. 29 /p||| 2011
Auditors' Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 111
(A|| amouots |o |acs}
|ctes Mar-11 Va|-10
80üß6E8 0F FüNß8
8hAßEh0IßEß8' FüNß8
S|a|e cap|ta| 2 4,108.34 3,191.13
0pt|cra||] ccrve|t|u|e wa||arts 32 ~ 3,071.80
Rese|ves arc su|p|us 3 45,981.25 21,55c.11
50,089.59 28,119.37
I0AN FüNß8
Secu|ec |cars 1 21,676.97 20,710.81
ursecu|ec |cars 5 4,624.28 2,20c.19
26,301.25 22,917.03
MIN0ßII¥ INIEßE8I 223.55 ÷
ßEFEßßEß IAk IIAßIIIIIE8 (Not} 21 (c} 132.00 ÷
76,746.39 51,03c.10
AFFII6AII0N 0F FüNß8
FIkEß A88EI8 c
C|css u|cc| 74,736.78 50,178.3c
less. /ccu¤u|atec cep|ec|at|cr, a¤c|t|sat|cr arc |¤pa||¤ert 25,996.31 21,151.01
|et u|cc| 48,740.47 29,027.35
Cap|ta| wc|| |r p|cç|ess (|rc|uc|rç Cap|ta| acvarces 5,704.33 2,781.28
1,111.15 |acs, 2010 . 1,071.58 |acs} 54,444.80 31,808.c3
INvE8IMENI8 7 1.11 3,991.13
ß00ßWIII 0N 60N80IIßAII0N 9,914.25 1,091.70
MIN0ßII¥ INIEßE8I ~ 2,171.11
ßEFEßßEß IAk A88EI (Not} 21 (u} 325.00 155.00
6üßßENI A88EI8, I0AN8 ANß AßvAN6E8
|rvertc||es 8 25,054.67 15,905.12
Surc|] ceutc|s 9 2,140.87 1,223.22
Cas| arc uar| ua|arces 10 1,823.36 922.12
lcars arc acvarces 11 22,237.63 22,117.2c
51,256.53 10,1c7.72
Ioss: 6üßßENI IIAßIIIIIE8 ANß Fß0vI8I0N8 12
Cu||ert ||au|||t|es 38,110.99 27,811.73
||cv|s|crs 1,084.31 801.19
39,195.30 28,c19.22
|et cu||ert assets 12,061.23 11,518.50
Fß0FII ANß I088 A660üNI
Ba|arce |r ||cl|t arc lcss /cccurt 589.58 81.cc
less. Cere|a| Rese|ve cecuctec as pe| ccrt|a 589.58 81.cc
~ ÷
76,746.39 51,03c.10
I|e accc¤par]|rç rctes 1 tc 31 a|e ar |rteç|a| pa|t cl t|e l|rarc|a| state¤erts.
|r te|¤s cl cu| |epc|t attac|ec. For aod oo boha|I oI tho ßoard oI ß|roctors
For ßo|o|tto hask|os 8 8o||s ß. 8. Nagosh ßav| ßahoja ßov|od 8. 8hr|khaodo
C|a|te|ec /cccurtarts V|ce C|a||¤ar D||ectc| Custc¤e| Ca|e /sscc|ate c
Varaç|rç D||ectc|
8hyamak ß. Iata 6. ß. Nava|kar Frashaot Mohta
|a|tre| Custc¤e| Ca|e /sscc|ate c Custc¤e| Ca|e /sscc|ate c
Vu¤ua|, Datec . 29 /p|||, 2011 C|cup C||el ||rarc|a| 0ll|ce| Cc¤par] Sec|eta|] c
V|ce ||es|cert ÷ leça|
Couso|idated 8a|auce Sheet as at 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 112
(A|| amouots |o |o |acs}
|ctes Mar-11 Va|-10
IN60ME
ßota|| Iuroovor
0wr ¤e|c|arc|se (|rc|uc|rç ccrcess|cr sa|es} 1(e} 225,488.67 111,732.55
Ccrs|çr¤ert ¤e|c|arc|se 18,130.30 13,071.07
0t|e| Reta|| cpe|at|rç |rcc¤e 13 3,762.78 2,c51.c7
19 247,381.75 1c0,1c1.29
less. Va|ue accec ta· 12,457.10 c,85c.81
less. Ccst cl ccrs|çr¤ert ¤e|c|arc|se 12,965.82 9,129.83
221,958.83 111,171.c2
Reverue l|c¤ Ca¤|rç Bus|ress ÷ S|a|e |r Jc|rt Vertu|e 1,163.69 710.97
Reverue l|c¤ t|arsle| cl ||cpe|t] cpt|cr 102.00 ÷
223,224.52 ' 111,915.59'
0t|e| |rcc¤e 11 511.30 927.11
223,735.82 115,813.00
' |rc|uce s|a|e |r Jc|rt vertu|es (see rcte 33} 4,348.59 1,13c.88
EkFENßIIüßE
Ccst cl çcccs sc|c 15 147,678.92 90,220.10
E¤p|c]ee ccsts 1c 13,990.89 9,198.11
0pe|at|rç arc ac¤|r|st|at|ve e·perses 17 48,715.13 31,858.c7
|rte|est arc l|rarce c|a|çes 18 2,952.90 2,513.28
Dep|ec|at|cr, a¤c|t|sat|cr arc |¤pa||¤ert c 4,689.44 3,807.09
218,027.28 110,c27.28
Fß0FII ßEF0ßE IAk 5,708.54 5,215.72
Fß0FII Fß0M 60NIINüINß 0FEßAII0N8 ßEF0ßE IAk 28 5,7c2.79 5,231.52
Ia· C|a|çe 3,887.c1 1,875.15 1,c35.15 3,59c.07
I088 Fß0M ßI860NIINüINß 0FEßAII0N8 ßEF0ßE IAk 28 (51.25} (15.80}
Ia· C|a|çe ÷ (54.25} ÷ (15.80}
Fß0FII AFIEß IAk 1,820.90 3,580.27
V|rc||t] |rte|est ÷ S|a|e cl |css 2,498.67 7.71
NEI Fß0FII F0ß IhE ¥EAß 4,319.57 3,588.01
ßAIAN6E ßß0üßhI F0ßWAßß Fß0M FßEvI0ü8 ¥EAß (84.66} (2,810.81}
4,234.91 777.20
AFFß0FßIAII0N8
I|arsle| tc Cere|a| Rese|ve 375.88 251.15
||cpcsec D|v|cerc 616.26 523.72
Cc|pc|ate D|v|cerc Ia· 99.97 8c.99
AßJü8IMENI 0N 60N80IIßAII0N 0N
A6ûüI8III0N 0F 8üß8IßIAߥ (3,732.38} ÷
ßAIAN6E 6AßßIEß I0 ßAIAN6E 8hEEI (589.58} (81.cc}
Ea|r|rçs pe| s|a|e (Ecu|t] s|a|es, pa| va|ue cl 5/- pe| s|a|e} 30
Bas|c (} 5.47 1.72
D||utec (} 5.41 1.c7
I|e accc¤par]|rç rctes 1 tc 31 a|e ar |rteç|a| pa|t cl t|e l|rarc|a| state¤erts.
|r te|¤s cl cu| |epc|t attac|ec. For aod oo boha|I oI tho ßoard oI ß|roctors
For ßo|o|tto hask|os 8 8o||s ß. 8. Nagosh ßav| ßahoja ßov|od 8. 8hr|khaodo
C|a|te|ec /cccurtarts V|ce C|a||¤ar D||ectc| Custc¤e| Ca|e /sscc|ate c
Varaç|rç D||ectc|
8hyamak ß. Iata 6. ß. Nava|kar Frashaot Mohta
|a|tre| Custc¤e| Ca|e /sscc|ate c Custc¤e| Ca|e /sscc|ate c
Vu¤ua|, Datec . 29 /p|||, 2011 C|cup C||el ||rarc|a| 0ll|ce| Cc¤par] Sec|eta|] c
V|ce ||es|cert ÷ leça|
Couso|idated Profit 8 Loss Accouut for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 113
(A|| amouots |o |acs}
Mar-11 Va|-10
6ash I|ows Irom oporat|og act|v|t|os
Not proI|t boIoro tax 5,708.54 5,215.72
Adjustmoots Ior :
Dep|ec|at|cr, /¤c|t|sat|cr 4,689.44 3,807.09
|rte|est arc l|rarce c|a|çes 2,952.90 2,513.28
lcss cr sa|e cl l|·ec assets (ret} 54.25 c5.05
|rte|est |rcc¤e (240.71} (c31.93}
0porat|og FroI|t boIoro work|og cap|ta| chaogos 13,164.42 10,999.21
/cjust¤erts lc|.
I|ace arc ct|e| |ece|vau|es (ct|e| t|ar |ease cepcs|ts} 5,048.02 (811.15}
lease cepcs|ts (ret} (1,239.73} 25c.00
|rvertc||es (2,908.16} (55.7c}
I|ace arc ct|e| pa]au|es 2,811.39 (1,015.11}
6ash goooratod Irom oporat|oos 16,875.94 9,373.1c
|rcc¤e ta·es pa|c (ret cl |elurcs} (3,089.16} (1,551.81}
Not cash Irom oporat|og act|v|t|os 13,786.78 7,818.35
6ash I|ow Irom |ovost|og act|v|t|os
|u|c|ase cl l|·ec assets (14,487.53} (7,502.c7}
Sa|e cl l|·ec assets 724.99 8c9.33
Repa]¤ert cl |cars c acvarces u] asscc|ates (ret} ~ 1,1c1.90
|rvest¤ert |r asscc|ates ~ (950.00}
|u|c|ase cl |rte|est |r a suus|c|a|] (7,842.32} -÷
|rte|est |ece|vec 237.40 c2c.70
Not cash usod |o |ovost|og act|v|t|os (21,367.46} (5,791.71}
6ash I|ows Irom I|oaoc|og act|v|t|os
||cceecs l|c¤ |ssue cl s|a|e cap|ta| 616.91 1.83
Secu||t|es p|e¤|u¤ cr |ssue cl s|a|e cap|ta| 21,484.30 91.92
||cceecs l|c¤ |ssue cl cpt|cra||] ccrve|t|u|e wa||arts ~ 3,071.80
D|v|cerc arc c|v|cerc ta· pa|c (610.71} ÷
||cceecs l|c¤ |crç-te|¤ uc||cw|rçs (ret} 2,000.00 ÷
Repa]¤ert cl |crç-te|¤ uc||cw|rçs (17,698.15} (3,50c.83}
S|c|t-te|¤s |cars (ret} 3,116.10 (151.07}
|rte|est arc l|rarce c|a|çes pa|c (2,952.90} (2,513.28}
Not cash Irom/(usod |o} I|oaoc|og act|v|t|os 5,955.55 (3,335.c3}
Not |ocroaso/(docroaso} |o cash aod cash oqu|va|oots (1,625.13} (1,309.02}
Cas| arc cas| ecu|va|erts as at ueç|rr|rç cl t|e ]ea| 725.08 2,031.10
Cas| arc cas| ecu|va|erts cr accu|s|t|cr cl suus|c|a|] 2,490.20 ÷
Cas| arc cas| ecu|va|erts as at t|e erc cl t|e ]ea| 1,590.15 725.08
Noto:
Cas| arc Cas| Ecu|va|erts as pe| Ba|arce s|eet (see rcte 10} 1,823.36 922.12
less. Depcs|t urce| ||er 233.21 197.01
Cas| arc Cas| Ecu|va|ert as |epc|tec aucve 1,590.15 725.08
I|e accc¤par]|rç |ctes 1 tc 31 a|e ar |rteç|a| pa|t cl t|e l|rarc|a| state¤erts.
|r te|¤s cl cu| |epc|t attac|ec. For aod oo boha|I oI tho ßoard oI ß|roctors
For ßo|o|tto hask|os 8 8o||s ß. 8. Nagosh ßav| ßahoja ßov|od 8. 8hr|khaodo
C|a|te|ec /cccurtarts V|ce C|a||¤ar D||ectc| Custc¤e| Ca|e /sscc|ate c
Varaç|rç D||ectc|
8hyamak ß. Iata 6. ß. Nava|kar Frashaot Mohta
|a|tre| Custc¤e| Ca|e /sscc|ate c Custc¤e| Ca|e /sscc|ate c
Vu¤ua|, Datec . 29 /p|||, 2011 C|cup C||el ||rarc|a| 0ll|ce| Cc¤par] Sec|eta|] c
V|ce ||es|cert ÷ leça|
Couso|idated Statemeut of Cash F|ows for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 111
1. 8IßNIFI6ANI A660üNIINß F0II6IE8
a} ßas|s oI proparat|oo oI I|oaoc|a| statomoots
I|e l|rarc|a| state¤erts |ave ueer p|epa|ec urce| t|e ||stc||ca| ccst ccrvert|cr arc |r accc|carce w|t| Cere|a||] /cceptec
/cccurt|rç |||rc|p|es |rc|uc|rç app||cau|e /cccurt|rç Starca|cs |r |rc|a arc t|e p|cv|s|crs cl t|e Cc¤par|es /ct, 195c.
b} üso oI ost|matos
I|e p|epa|at|cr cl l|rarc|a| state¤erts |r ccrlc|¤|t] w|t| Cere|a||] /cceptec /cccurt|rç |||rc|p|es |ecu||es est|¤ates arc
assu¤pt|crs tc ue ¤ace t|at allect t|e |epc|tec a¤curts cl assets arc ||au|||t|es arc c|sc|csu|e cl ccrt|rçert ||au|||t|es cr t|e
cate cl t|e l|rarc|a| state¤erts arc t|e |epc|tec a¤curts cl |everues arc e·perses cu||rç t|e |epc|t|rç pe||cc. /ctua| |esu|ts
ccu|c c|lle| l|c¤ t|cse est|¤ates arc c|lle|erces uetweer actua| |esu|ts arc est|¤ates a|e |eccçr|sec |r t|e pe||ccs |r w||c|
t|e |esu|ts a|e |rcwr/¤ate||a||se.
c} F|xod Assots aod ßoproc|at|oo
Iaog|b|o Assots
||·ec assets a|e statec at t|e|| c||ç|ra| ccst cl accu|s|t|cr |ess accu¤u|atec cep|ec|at|cr arc |¤pa||¤ert |csses. Ccst cc¤p||ses
cl a|| ccst |rcu||ec tc u||rç t|e assets tc t|e|| |ccat|cr arc wc|||rç ccrc|t|cr arc |rc|uces a|| e·perses |rcu||ec up tc t|e cate
cl |aurc||rç rew stc|es tc t|e e·tert t|e] a|e att||uutau|e tc t|e rew stc|e.
Dep|ec|at|cr |s p|cv|cec, p|c |ata lc| t|e pe||cc cl use, u] t|e st|a|ç|t ||re ¤et|cc (SlV}, uasec cr ¤araçe¤ert's est|¤ate cl
uselu| ||ves cl t|e l|·ec assets, c| at t|e SlV |ates p|esc||uec |r Sc|ecu|e /|V tc t|e /ct w||c|eve| |s ||ç|e|, at t|e lc||cw|rç
arrua| |ates.
(%}
/|| ccrc|t|cr|rç arc ct|e| ecu|p¤ert 5.00÷33.00
|u|r|tu|e, l|·tu|es arc ct|e| l|tt|rçs c.33÷20.00
Cc¤pute|s 1c.21÷33.33
Ve||c|es 9.50÷20.00
lease|c|c |¤p|cve¤erts 5.82÷20.00
Iotaog|b|o Assots
|rtarç|u|e assets a|e statec at t|e|| ccst cl accu|s|t|cr, |ess accu¤u|atec a¤c|t|sat|cr arc |¤pa||¤ert |csses. /r |rtarç|u|e
asset |s |eccçr|sec, w|e|e |t |s p|cuau|e t|at t|e lutu|e eccrc¤|c uerel|ts att||uutau|e tc t|e asset w||| l|cw tc t|e erte|p||se
arc w|e|e |ts ccst car ue |e||au|] ¤easu|ec. I|e cep|ec|au|e a¤curt cl |rtarç|u|e assets |s a||ccatec cve| t|e uest est|¤ate cl
|ts uselu| ||le cr a st|a|ç|t-||re uas|s.
I|ace¤a||s, paterts arc cc¤pute| scltwa|e a|e a¤c|t|sec ur|lc|¤|] cve| a pe||cc cl 10 arc c ]ea|s |espect|ve|].
Ccp]||ç|ts arc accu||ec Ccccw||| a|e a¤c|t|sec ur|lc|¤|] cve| a pe||cc cl 10 ]ea|s.
Impa|rmoot oI Assots
/r asset |s ccrs|ce|ec as |¤pa||ec |r accc|carce w|t| /cccurt|rç Starca|c 28 cr |¤pa||¤ert cl /ssets w|er at t|e ua|arce
s|eet cate t|e|e a|e |rc|cat|crs cl |¤pa||¤ert arc t|e ca||]|rç a¤curt cl t|e asset, c| w|e|e app||cau|e t|e cas| çere|at|rç
ur|t tc w||c| t|e asset ue|crçs, e·ceecs |ts |eccve|au|e a¤curt (|.e. t|e ||ç|e| cl t|e asset's ret se|||rç p||ce arc va|ue |r use}.
I|e ca||]|rç a¤curt |s |ecucec tc t|e |eccve|au|e a¤curt arc t|e |ecuct|cr |s |eccçr|sec as ar |¤pa||¤ert |css |r t|e p|cl|t
arc |css acccurt.
d} Iovostmoots
lcrç-te|¤ |rvest¤erts a|e statec at ccst. W|e|e app||cau|e, p|cv|s|cr |s ¤ace tc |eccçr|se a cec||re, ct|e| t|ar te¤pc|a|], |r
t|e va|ue cl lcrç-te|¤ |rvest¤erts.
Siguificaut Accouutiug Po|icies aud lotes formiug part of
Couso|idated Fiuaucia| Statemeuts for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 115
o} ßovoouo rocogo|t|oo
Reverue |s |eccçr|sec w|er |t |s ea|rec arc rc s|çr|l|cart urce|ta|rt] e·|sts as tc |ts |ea||sat|cr c| cc||ect|cr.
Reta|| sa|es a|e |eccçr|sec cr ce||ve|] cl t|e ¤e|c|arc|se tc t|e custc¤e|, w|er t|e p|cpe|t] |r çcccs arc s|çr|l|cart ||s|s arc
|ewa|cs a|e t|arsle||ec lc| a p||ce arc rc ellect|ve cwre|s||p ccrt|c| |s |eta|rec..
I|e p|cpe|t] |r t|e ¤e|c|arc|se cl t|||c pa|t] ccrcess|cr stc|es |ccatec w|t||r t|e ¤a|r cepa|t¤erta| stc|e cl t|e Cc¤par]
passes tc t|e Cc¤par] crce a custc¤e| cec|ces tc pu|c|ase ar |te¤ l|c¤ t|e ccrcess|cr stc|e. I|e Cc¤par] |r tu|r se||s t|e
|te¤ tc t|e custc¤e| arc |s accc|c|rç|] |rc|ucec urce| Reta|| Sa|es.
I|e p|cpe|t] |r t|e ¤e|c|arc|se cl t|||c pa|t] ccrs|çr¤ert stcc| cces rct pass tc t|e Cc¤par]. S|rce, |cweve|, t|e sa|e
cl suc| stcc| lc|¤s a pa|t cl t|e act|v|t|es cl t|e Cc¤par]'s cepa|t¤erta| stc|es, t|e ç|css sa|es va|ues arc ccst cl t|e
¤e|c|arc|se a|e c|sc|csec sepa|ate|] arc lc|¤ pa|t cl tcta| Reta|| Iu|rcve| |r t|e p|cl|t arc |css acccurt.
Sa|es a|e ret cl c|sccurts. Va|ue /ccec Ia· arc Sa|es Ia· a|e |ecucec l|c¤ Reta|| Iu|rcve|.
|r |espect cl ç|lt vcuc|e|s arc pc|rt awa|c sc|e¤es cpe|atec u] t|e Cc¤par], sa|es a|e |eccçr|sec w|er t|e ç|lt vcuc|e|s c|
pc|rts a|e |ecee¤ec arc t|e ¤e|c|arc|se |s sc|c tc t|e custc¤e|.
Reverue l|c¤ stc|e c|sp|a]s arc spcrsc|s||ps a|e |eccçr|sec uasec cr t|e pe||cc lc| w||c| t|e p|ccucts c| t|e spcrsc|s'
acve|t|se¤erts a|e p|c¤ctec/c|sp|a]ec. |ac|||t] ¤araçe¤ert lees a|e |eccçr|sec p|c-|ata cve| t|e pe||cc cl t|e ccrt|act.
||arc||se |rcc¤e |s |eccçr|sec |r accc|carce w|t| t|e |ates spec|l|ec |r t|e l|arc||se aç|ee¤erts arc |s uasec cr t|e sa|es
|ecc|cec u] t|e l|arc||sees lc| t|e ]ea|.
I} Iocomo Irom Iovostmoots aod Ioaos
|rte|est |rcc¤e |s |eccçr|sec cr t|¤e p|cpc|t|cr uas|s. D|v|cerc |rcc¤e |s |eccçr|sec w|er ||ç|t tc |ece|ve pa]¤ert |s
estau||s|ec.
g} Iovootor|os
|rvertc||es a|e va|uec at t|e |cwe| cl ccst arc ret |ea||sau|e va|ue. Ccst cl |rvertc||es cc¤p||ses cl a|| ccsts cl pu|c|ase arc
ct|e| ccsts |rcu||ec |r u||rç|rç t|e |rvertc||es tc t|e|| p|esert ccrc|t|cr arc |ccat|cr. Ccst |s cete|¤|rec u] t|e we|ç|tec
ave|açe ccst ¤et|cc.
Ve|c|arc|se |ece|vec urce| ccrs|çr¤ert arc ccrcess|cra||e a||arçe¤erts ue|crç tc t|e ccrs|çrc|s/ccrcess|cra||es arc a|e
t|e|elc|e e·c|ucec l|c¤ t|e Cc¤par]'s |rvertc||es.
0pt|cr |rvertc||es cc¤p||ses cl ||ç|t tc accu||e l|ats |r a st|uctu|e tc ue ccrst|uctec u] t|e ct|e| pa|t], w||c| ||ç|t |s l|ee|]
¤a||etau|e/t|arsle|au|e alte| a st|pu|atec pe||cc. I|e sa¤e |s va|uec at |cwe| cl ccst arc ret |ea||tau|e va|ue.
h} Emp|oyoo boooI|ts
Cc¤persat|cr tc e¤p|c]ees lc| se|v|ces |erce|ec |s ¤easu|ec arc acccurtec lc| |r accc|carce w|t| /cccurt|rç Starca|c 15
cr E¤p|c]ee Berel|ts.
E¤p|c]ee Berel|ts suc| as sa|a||es, a||cwarces, rcr-¤creta|] uerel|ts arc e¤p|c]ee uerel|ts urce| cel|rec ccrt||uut|cr p|ars
suc| as p|cv|cert arc ct|e| lurcs, w||c| la|| cue lc| pa]¤ert w|t||r a pe||cc cl twe|ve ¤crt|s alte| |erce||rç se|v|ce, a|e
c|a|çec as e·perse tc t|e p|cl|t arc |css acccurt |r t|e pe||cc |r w||c| t|e se|v|ce |s |erce|ec.
E¤p|c]ee Berel|ts urce| cel|rec uerel|t p|ars arc ct|e| |crç-te|¤ e¤p|c]ee uerel|ts suc| as ç|atu|t] arc cc¤persatec
auserces w||c| la|| cue lc| pa]¤ert alte| cc¤p|et|cr cl e¤p|c]¤ert c| alte| a pe||cc cl twe|ve ¤crt|s l|c¤ |erce||rç se|v|ce,
a|e ¤easu|ec u] t|e p|cjectec ur|t c|ec|t ¤et|cc, cr t|e uas|s cl actua||a| va|uat|crs ca|||ec cut u] t|||c pa|t] actua||es at
eac| ua|arce s|eet cate. I|e cc¤par]'s cu||çat|crs |eccçr|sec |r t|e ua|arce s|eet |ep|esert t|e p|esert va|ue cl cu||çat|crs
as |ecucec u] t|e la|| va|ue cl p|ar assets, w|e|e app||cau|e.
/ctua||a| Ca|rs arc |csses a|e |eccçr|sec |¤¤ec|ate|] |r t|e ||cl|t c lcss /cccurt.
Shoppers Stop Ltd.
Siguificaut Accouutiug Po|icies aud lotes formiug part of
Couso|idated Fiuaucia| Statemeuts for the year euded 31 March, 2O11
/rrua| Repc|t 2010-11 | 11c
Siguificaut Accouutiug Po|icies aud lotes formiug part of
Couso|idated Fiuaucia| Statemeuts for the year euded 31 March, 2O1O
|} 0porat|og Ioaso
0pe|at|rç lease pa]¤erts a|e |eccçr|sec as ar e·perse |r t|e ||cl|t c lcss /cccurt cr a st|a|ç|t-||re uas|s c| ct|e| uases,
|ep|esertat|ve cl t|e t|¤e patte|r cl t|e use|'s uerel|t.
j} ßorrow|og costs
Bc||cw|rç ccsts att||uutau|e tc t|e accu|s|t|cr c| ccrst|uct|cr cl cua||l]|rç assets, as cel|rec |r /cccurt|rç Starca|c - 1c cr
Bc||cw|rç Ccsts, a|e cap|ta||sec as pa|t cl t|e ccst cl accu|s|t|cr. 0t|e| uc||cw|rç ccsts a|e e·persec as |rcu||ec.
k} Foro|go curroocy traosact|oos
I|arsact|crs |r lc|e|çr cu||erc|es a|e acccurtec at t|e p|eva|||rç |ates cl e·c|arçe cr t|e cate cl t|arsact|cr.
Vcreta|] |te¤s cerc¤|ratec |r lc|e|çr cu||erc|es, a|e |estatec at t|e p|eva|||rç |ates cl e·c|arçe at t|e Ba|arce S|eet cate.
/|| ça|rs arc |csses a||s|rç cut cl l|uctuat|crs |r e·c|arçe |ates a|e acccurtec lc| |r t|e ||cl|t c lcss /cccurt.
E·c|arçe c|lle|erces cr lc|wa|c e·c|arçe ccrt|acts, erte|ec |rtc lc| |ecç|rç lc|e|çr e·c|arçe l|uctuat|cr ||s| |r |espect cl ar
e·|st|rç asset/||au|||t], a|e |eccçr|sec |r t|e ||cl|t c lcss /cccurt |r t|e |epc|t|rç pe||cc |r w||c| t|e e·c|arçe |ate c|arçes.
||e¤|u¤/D|sccurt cr lc|wa|c e·c|arçe ccrt|acts a|e t|eatec as ar e·perse/|rcc¤e cve| t|e ||le cl t|e ccrt|act.
|} Iocomo Iax
|rcc¤e ta·es a|e acccurtec lc| |r accc|carce w|t| /cccurt|rç Starca|c-22 cr /cccurt|rç lc| Ia·es cr |rcc¤e. Ia·es cc¤p||se
uct| cu||ert arc cele||ec ta·.
||cv|s|cr lc| cu||ert ta· |s ¤ace ta||rç |rtc acccurt ac¤|ss|u|e a||cwarces, c|sa||cwarces urce| t|e p|cv|s|crs cl |rcc¤e Ia·
/ct, 19c1, us|rç t|e app||cau|e ta· |ates.
Dele||ec ta· |esu|t|rç l|c¤ t|e t|¤|rç c|lle|erces uetweer ta·au|e |rcc¤e arc acccurt|rç |rcc¤e |s acccurtec us|rç app||cau|e
ta· |ates arc |aws, eractec c| suustart|ve|] eractec as at t|e Ba|arce S|eet.
I|e cele||ec ta· asset |s |eccçr|sec arc ca|||ec lc|wa|c cr|] tc t|e e·tert t|at t|e|e |s |eascrau|e/v||tua| ce|ta|rt] t|at t|e
asset w||| ue |ea||sec |r lutu|e.
m} 8tock-basod compoosat|oo
I|e cc¤persat|cr ccst cl stcc| cpt|crs ç|artec tc e¤p|c]ees |s ca|cu|atec us|rç t|e |rt||rs|c va|ue cl t|e stcc| cpt|crs. I|e
cc¤persat|cr e·perse |s a¤c|t|sec ur|lc|¤|] cve| t|e vest|rç pe||cc cl t|e cpt|cr.
o} Earo|ogs For 8haro
I|e cc¤par] |epc|ts uas|c arc c||utec Ea|r|rçs |e| S|a|e (E|S} |r accc|carce w|t| /cccurt|rç Starca|c÷20 cr Ea|r|rçs |e|
S|a|e. Bas|c E|S |s cc¤putec u] c|v|c|rç t|e ret p|cl|t c| |css lc| t|e ]ea| u] t|e we|ç|tec ave|açe ru¤ue| cl ecu|t] s|a|es
cutstarc|rç cu||rç t|e ]ea|. D||utec E|S |s cc¤putec u] c|v|c|rç t|e ret p|cl|t c| |css lc| t|e ]ea| u] t|e we|ç|tec ave|açe
ru¤ue| cl ecu|t] s|a|es cutstarc|rç cu||rç t|e ]ea| as acjustec lc| t|e ellects cl a|| c||ut|ve pctert|a| ecu|t] s|a|es, e·cept
w|e|e t|e |esu|ts a|e art|-c||ut|ve.
o} 6ash F|ow 8tatomoot
I|e Cas| ||cw State¤ert |s p|epa|ec u] t|e |rc||ect ¤et|cc set cut |r /cccurt|rç Starca|c÷3 cr Cas| ||cw State¤erts arc
p|eserts t|e cas| l|cws u] cpe|at|rç, |rvest|rç arc l|rarc|rç act|v|t|es cl t|e Cc¤par]. Cas| arc cas| ecu|va|erts p|esertec
|r t|e Cas| ||cw State¤ert ccrs|st cl cas| cr |arc arc urercu¤ue|ec uar| ua|arces.
p} Frov|s|oo, 6oot|ogoot I|ab|||t|os aod 6oot|ogoot Assots
||cv|s|crs |rvc|v|rç suustart|a| ceç|ee cl est|¤at|cr |r ¤easu|e¤ert a|e |eccçr|tec w|er t|e|e |s a p|esert cu||çat|cr as a
|esu|t cl past everts arc |t |s p|cuau|e t|at t|e|e w||| ue ar cutl|cw cl |escu|ces. Ccrt|rçert l|au|||t|es a|e rct |eccçr|sec uut
a|e c|sc|csec |r t|e rctes tc t|e l|rarc|a| state¤erts. D|sc|csu|e |s rct ¤ace |l t|e pcss|u|||t] cl ar cutl|cw cl lutu|e eccrc¤|c
uerel|ts |s |e¤cte. Ccrt|rçert assets a|e re|t|e| |eccçr|sec rc| c|sc|csec |r t|e l|rarc|a| state¤erts.
Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 117
(A|| amouots |o |acs}
Mar-11 Va|-10
2. 8hAßE 6AFIIAI
Author|sod
200,000,000 ecu|t] s|a|es cl 5/- eac|
(2010. 100,000,000 cl 10 eac|} (see |cte 31} 10,000.00 10,000.00
Issuod aod 8ubscr|bod
82,1cc,83c ecu|t] s|a|es cl 5/- eac| lu||] pa|c-up
(2010. 31,911,311 ecu|t] s|a|es cl 10/- eac| lu||] pa|c-up} (see |cte 32} 4,108.34 3,191.13
4,108.34 3,191.13
urce| E¤p|c]ee Stcc| 0pt|cr Sc|e¤es t|e Cc¤par] |as ç|artec
(ret cl cpt|crs |apsec}.
a} 219,27c (2010 . 225,cc0} 0pt|crs |r 2001-05, cl w||c| 219,27c
vestec cpt|crs |ave ueer e·e|c|sec.
u} 118,351 (2010 . 152,902} 0pt|crs |r 2001-05, cl w||c| 118,351
vestec cpt|crs |ave ueer e·e|c|sec.
c} 112,5c2 (2010 . 115,970} 0pt|crs |r 2005-0c, cl w||c| 89,c30
vestec cpt|crs |ave ueer e·e|c|sec.
c} 1,011,cc0 (2010 . 1,025,100} 0pt|crs |r 2009-10, cl w||c| 253,5c0
vestec cpt|crs |ave ueer e·e|c|sec.
e} 389,000 (2010 . 100,000} 0pt|crs |r 2009-10, cl w||c| 13,200
vestec cpt|crs |ave ueer e·e|c|sec.
0l t|e aucve, 338,118 cpt|crs we|e e·e|c|sec cu||rç t|e ]ea|.
Noto: Eac| cpt|cr ert|t|es t|e |c|ce| t|e|ecl tc app|] lc| arc ue a||cttec
1 0|c|ra|] S|a|es cl t|e lace va|ue cl 5/- eac|.
3. ßE8EßvE8 ANß 8üßFIü8
8ocur|t|os From|um Accouot
Ba|arce at ueç|rr|rç cl t|e ]ea| 21,068.21 20,9c1.c1
/cc. Rece|vec cu||rç t|e ]ea| (a|sc see |cte 32} 24,954.26 103.c0
less. ut|||sec lc| S|a|e |ssue e·perses (385.07} ÷
45,637.40 21,0c8.21
ßooora| ßosorvo
Ba|arce at ueç|rr|rç cl t|e ]ea| 552.45 301.30
I|arsle||ec l|c¤ ||cl|t c lcss /cccurt 375.88 251.15
less. Deu|t ua|arce |r ||cl|t c lcss /cccurt cecuctec as pe| ccrt|a 589.58 81.cc
338.75 1c7.79
Emp|oyoos' 8tock 0pt|oos outstaod|og (soo Noto 29} 5.10 20.11
45,981.25* 21,55c.11'
' |rc|uces s|a|e |r Jc|rt Vertu|es - lcss 3,1c0.18 lacs (2010 . 2,807.cc lacs}
Shoppers Stop Ltd. lotes to Couso|idated Fiuaucia| Statemeuts
/rrua| Repc|t 2010-11 | 118
(A|| amouots |o |acs}
Mar-11 Va|-10
4. 8E6üßEß I0AN8
(Rele| |cte ue|cw}
From ßaoks
Ie|¤ lcars 6,816.56 9,cc8.12
Cas| C|ec|t 3,560.52 1,309.19
Wc|||rç Cap|ta| De¤arc lcars 9,714.13 7,005.c9
B||| c|sccurt|rç 110.24 ÷
Bu]e|s C|ec|t 429.37 151.80
20,630.82 18,131.80
S|a|e |r Jc|rt Vertu|es (see rcte 33} 1,046.15 2,27c.01
21,676.97 20,710.81
Notos:
a. Ie|¤ lcars, Cas| C|ec|t |ac|||t|es arc Wc|||rç Cap|ta| De¤arc lcars a|e secu|ec
u] a l||st c|a|çe cr a|| ¤cvau|e tarç|u|e p|cpe|t|es arc ar e·c|us|ve ||er cr |ease
cepcs|ts arc cr a|| cu||ert assets, uct| p|esert arc lutu|e.
u. Ie|¤ lcars |r Jc|rt Vertu|es a|e secu|ec u] a l||st c|a|çe cr |ece|vau|es arc stcc|,
uct| p|esert arc lutu|e arc cc|pc|ate çua|artee ç|ver u] t|e jc|rt vertu|e|s.
5. üN8E6üßEß I0AN8
Wc|||rç Cap|ta| Ie|¤ lcar 2,125.00 ÷
Cc¤¤e|c|a| |ape|' 2,000.00 ÷
B||| D|sccurt|rç 499.28 ÷
0t|e|s ~ 2,20c.19
4,624.28 2,20c.19
' (Repa]au|e w|t||r cre ]ea| 2,000 |acs, Va·|¤u¤ a¤curt cutstarc|rç
cu||rç t|e ]ea| c,000 |acs}
Shoppers Stop Ltd. lotes to Couso|idated Fiuaucia| Statemeuts
/rrua| Repc|t 2010-11 | 119
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Shoppers Stop Ltd. lotes to Couso|idated Fiuaucia| Statemeuts
/rrua| Repc|t 2010-11 | 120
(A|| amouots |o |acs}
Mar-11 Va|-10
7. INvE8IMENI8 (Irado, Ioog-torm at cost, uoquotod}
Sta|çate ||cpe|t|es |||vate l|¤|tec 0.10 0.10
1,000 ecu|t] s|a|es cl 10/- eac| lu||] pa|c
Reta||e|s /sscc|at|cr cl |rc|a 1.00 1.00
10,000 ecu|t] s|a|es cl 10/- eac| lu||] pa|c
/est|et|c Rea|tc|s |||vate l|¤|tec
cc Ecu|t] S|a|es cl 10/- eac| lu||] |a|c 0.01 0.01
Io Assoc|ato 6ompaoy:
|]pe|c|t] Reta|| (|rc|a} l|¤|tec'
180,500 Ecu|t] S|a|es cl 10/- eac| lu||] |a|c ~ 20.19
less. S|a|e cl lcss cl asscc|ate Cc¤par] (|est||ctec tc t|e va|ue cl |rvest¤ert} ~ (20.19}
~ ÷
'Beca¤e a suus|c|a|] cc¤par] w.e.l. 30 Jure, 2010
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s|a|es cl 10/- eac| lu||] |a|c
0thors:
|rvest¤erts |r Ccve|r¤ert Secu||t|es (|.S.C.} ~ 0.02
1.11 3,991.13
8. INvENI0ßIE8
(/t |cwe| cl ccst arc |et |ea||sau|e va|ue}
Reta|| ¤e|c|arc|se 23,914.47 11,989.32
0pt|cr |rvertc||es 475.00 ÷
S|a|e |r Jc|rt Vertu|es (see rcte 33} 665.20 915.80
25,054.67 15,905.12
9. 8üNßߥ ßEßI0ß8
(ursecu|ec}
Deuts cutstarc|rç lc| ¤c|e t|ar c ¤crt|s
÷ Ccrs|ce|ec çccc 34.00 8c.21
÷ Ccrs|ce|ec ccuutlu| 81.35 1c.10
0t|e| Deuts, ccrs|ce|ec çccc 2,002.85 1,021.19
2,118.20 1,157.10
less. ||cv|s|cr lc| ccuutlu| ceuts 81.35 1c.10
2,036.85 1,110.70
S|a|e |r Jc|rt Vertu|es (see rcte 33} 104.02 112.52
2,140.87 1,223.22
10. 6A8h ANß ßANk ßAIAN6E8
Cas| cr |arc 265.48 155.37
Ba|arces w|t| sc|ecu|ec uar|s.
÷ |r Cu||ert acccurts 276.00 281.c9
÷ |r Depcs|t acccurts 9.53 13.00
÷ |r Cas| C|ec|t acccurts 801.71 ÷
÷ |r Va|ç|r Vcre] acccurt (urce| ||er aça|rst uar| çua|artee} 28.39 22.87
1,381.11 172.93
S|a|e |r Jc|rt Vertu|es (see rcte 33} 442.25 119.19
1,823.36 922.12
Shoppers Stop Ltd. lotes to Couso|idated Fiuaucia| Statemeuts
/rrua| Repc|t 2010-11 | 121
(A|| amouots |o |acs}
Mar-11 Va|-10
11. I0AN8 ANß AßvAN6E8
(ursecu|ec, ccrs|ce|ec çccc ur|ess ct|e|w|se statec}
lcars arc acvarces tc C|cup cc¤par|es 122.84 5,38c.80
/cvarces |eccve|au|e |r cas| c| |r ||rc c| lc| va|ue tc ue |ece|vec.
Ccrs|ce|ec Cccc 5,649.65 3,713.c1
Ccrs|ce|ec Dcuutlu| 548.32 393.73
6,197.97 1,107.37
||e¤|ses arc ct|e| cepcs|ts 14,828.74 10,510.30
|rcc¤e ta·es pa|c (ret cl ta· p|cv|s|crs} 306.02 792.38
21,455.57 20,79c.85
less. ||cv|s|cr lc| ccuutlu| acvarces 548.32 393.73
20,907.25 20,103.12
S|a|e |r Jc|rt Vertu|es (see rcte 33} 1,330.38 1,711.11
22,237.63 22,117.2c
12. 6üßßENI IIAßIIIIIE8 ANß Fß0vI8I0N8
Cu||ert l|au|||t|es
Surc|] c|ec|tc|s 33,180.62 25,1c3.98
Secu||t] cepcs|ts 352.57 332.18
0t|e| l|au|||t|es 3,052.74 c25.00
36,585.93 2c,121.1c
S|a|e |r Jc|rt Vertu|es (see rcte 33} 1,525.06 1,123.27
38,110.99 27,811.73
||cv|s|crs
|c| ||cpcsec D|v|cerc 616.26 523.72
|c| Cc|pc|ate D|v|cerc Ia· 99.97 8c.99
|c| C|atu|t] 108.32 5.00
|c| leave ercas|¤ert 251.99 179.91
1,076.54 795.c2
S|a|e |r Jc|rt Vertu|es (see rcte 33} 7.77 8.87
1,084.31 801.19
39,195.30 28,c19.22
13. 0IhEß ßEIAII 0FEßAIINß IN60ME
|ac|||t] ¤araçe¤ert lees 875.68 c31.17
|rcc¤e l|c¤ stc|e c|sp|a]s arc spcrsc|s||p |rcc¤e 1,557.39 185.12
D||ect ¤a||et|rç |rcc¤e 779.46 128.1c
Re||rcu|s|¤ert cl ceve|cp¤ert ||ç|ts ~ cc0.18
|rcc¤e l|c¤ l|arc||sees 269.33 231.11
3,481.86 2,112.07
S|a|e |r Jc|rt Vertu|es (see rcte 33} 280.92 212.c0
3,762.78 2,c51.c7
14. 0IhEß IN60ME
|rte|est |rcc¤e 240.71 c31.93
V|sce||arecus |rcc¤e arc c|ec|ts 165.05 152.cc
||cl|t cr sa|e cl l|·ec assets (ret} 37.27 85.77
|c|e|çr e·c|arçe ça|r (ret} ~ 51.13
443.03 921.79
S|a|e |r Jc|rt Vertu|es (see rcte 33} 68.27 5.c2
511.30 927.11
Shoppers Stop Ltd. lotes to Couso|idated Fiuaucia| Statemeuts
/rrua| Repc|t 2010-11 | 122
(A|| amouots |o |acs}
Mar-11 Va|-10
15. 608I 0F ß00ß8 80Iß
(|rc|uc|rç ccrcess|cr pu|c|ases}
0per|rç stcc| 14,989.32 11,198.10
/cc . /cjust¤ert cr accu|s|t|cr cl a suus|c|a|] 6,241.38 ÷
/cc. |u|c|ases 149,105.51 88,8c5.31
less. C|cs|rç stcc| 24,389.47 11,989.32
145,946.74 88,371.12
S|a|e |r Jc|rt Vertu|es (see rcte 33} 1,732.18 1,815.98
147,678.92 90,220.10
16. EMFI0¥EE 608I8
Sa|a||es, a||cwarce arc ucrus 12,261.10 7,9c2.10
Ccrt||uut|cr tc ||cv|cert arc ct|e| lurcs 651.98 370.25
C|atu|t] arc |eave ercas|¤ert 212.73 238.38
Stall we|la|e e·perses 502.24 199.c0
13,628.05 8,770.33
S|a|e |r Jc|rt Vertu|es (see rcte 33} 362.84 127.81
13,990.89 9,198.11
17. 0FEßAIINß ANß AßMINI8IßAIIvE EkFEN8E8
|rsu|arce 114.59 57.52
lease |ert arc |||e C|a|çes 18,558.38 13,7c9.72
Bus|ress ccrcuct|rç lees 931.68 98c.1c
Rates arc ta·es 52.93 17.13
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÷ Bu||c|rçs 4,193.20 2,171.c1
÷ 0t|e|s 1,003.84 557.11
leça| arc p|cless|cra| lees 419.20 323.10
|cuse|eep|rç c|a|çes 911.36 179.92
Secu||t] c|a|çes 1,205.46 705.89
Cc¤pute| e·perses 760.15 791.79
Ccrve]arce arc t|ave|||rç e·perses 1,116.13 723.92
C|ea||rç c |c|wa|c|rç c|a|çes ~ 591.c1
E|ect||c|t] c|a|çes 4,774.73 3,191.19
/cve|t|se¤ert arc puu||c|t] 3,259.19 1,c11.12
Sa|es p|c¤ct|cr 1,782.93 1,872.31
C|a|çes cr c|ec|t ca|c t|arsact|crs 1,581.70 889.90
|ac||rç ¤ate||a|s 1,091.96 185.72
lcss cr Sa|e cl ||·ec /ssets (ret} 91.52 ÷
||cv|s|cr lc| Dcuutlu| ceuts/acvarces 14.00 127.73
|c|e|çr e·c|arçe |css (ret} 52.20 ÷
Se|v|ce ta· |rput c|ec|t e·persec 1,870.33 753.37
V|sce||arecus e·perses 2,665.36 1,302.83
46,450.84 32,319.28
S|a|e |r Jc|rt Vertu|es (see rcte 33} 2,264.29 2,509.39
48,715.13 31,858.c7
18. INIEßE8I ANß FINAN6E 6hAßßE8
|rte|est
÷ 0r l|·ec |cars l|c¤ uar|s 1,826.87 1,193.c5
÷ 0r 0t|e| lcars 649.61 c1c.72
||rarce c|a|çes 254.87 cc.01
2,731.35 2,20c.11
S|a|e |r Jc|rt Vertu|es (see rcte 33} 221.55 33c.87
2,952.90 2,513.28
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19. Reta|| Iu|rcve| |r t|e ||cl|t c lcss /cccurt |rc|cates t|e ç|css vc|u¤es cl uus|ress arc cpe|at|crs.
(A|| amouots |o |acs}
Mar-11 Va|-10
20. Est|¤atec a¤curt cl ccrt|acts |e¤a|r|rç tc ue e·ecutec cr cap|ta| acccurt
arc rct p|cv|cec lc| 3,528.21 2,311.c3
21. 60NIINßENI IIAßIIIIIE8 IN ßE8FE6I 0F:
a} Cua|artee ç|ver lc| |car ta|er u] Jc|rt vertu|e cc¤par|es l|c¤ uar|s 1,341.57 1,190.00
u} C|a|¤s aça|rst t|e Cc¤par] rct ac|rcw|ecçec as ceuts cc¤p||se cl.
(|} D|sputec |rcc¤e ta· ¤atte|s |r appea| 882.94 215.12
(||} D|sputec Sa|es Ia· / Erte|ta|r¤ert Ia· ¤atte|s |r appea| 16.46 128.c3
(|||} D|sputec Custc¤s Dut] 17.09 21.00
c} Ccrt|rçert ccrt|actua| c|a|¤s 644.96 23c.19
c} ||ele|erce D|v|cerc |a]au|e 1,981.17 ÷
e} 0t|e|s 52.25 ÷
l} S|a|e cl Jc|rt Vertu|es (see rcte 33} 439.90 1c1.82
Noto: |utu|e cas| cutl|cws |r |espect cl (u} aucve a|e cete|¤|rau|e cr|] cr |ece|pt cl jucçe¤erts/cec|s|crs perc|rç w|t| va||cus
lc|u¤s/aut|c||t|es.
22. 8EßvI6E IAk
|u|suart tc |ev] cl se|v|ce ta· cr |ert|rç cl |¤¤cveau|e p|cpe|t|es ç|ver lc| cc¤¤e|c|a| use, |et|cspect|ve|] w|t| ellect l|c¤
1 Jure 2007 u] t|e ||rarce /ct, 2010, t|e C|cup |as, uasec cr a |eça| acv|ce, c|a||erçec t|e sa|c |ev] arc, |rte|-a||a, |ts |et|cspect|ve
app||cat|cr |r va||cus ||ç| Ccu|ts. /r |rte||¤ sta] |as ueer ç|artec u] va||cus ||ç| Ccu|ts l|c¤ |eccve|] cl t|e sa|c Se|v|ce Ia·
arc t|e ¤atte| |s perc|rç. /ccc|c|rç|], t|e C|cup |as rct p|cv|cec lc| Se|v|ce Ia· açç|eçat|rç tc 2,027 |acs lc| t|e |et|cspect|ve
pe||cc uptc 31 Va|c| 2010, w||c| w||| ue app|cp||ate|] |eccçr|sec cr l|ra| cete|¤|rat|cr.
23. IEA8INß IßAN8A6II0N8 Mar-11 Va|-10
a} 0pe|at|rç |ease |erta|s c|a|çec tc |everue 13,607.65 10,925.7c
u} Va||au|e |erta|s c|a|çec tc |everue. 5,682.13 1,117.c1
Va||au|e |ert lc| ce|ta|r stc|es |s pa]au|e |r accc|carce w|t| t|e
|ease aç|ee¤ert as t|e ||ç|e| cl (a} l|·ec ¤|r|¤u¤ çua|artee a¤curt
arc (u} |everue s|a|e pe|certaçe.
c} I|e lutu|e ¤|r|¤u¤ |erta| pa]¤erts |r |espect cl rcr-carce||au|e |ease lc|
p|e¤|ses a|e as lc||cws .
|ct |ate| t|ar cre ]ea| 10,499.39 7,705.82
late| t|ar cre ]ea| arc rct |ate| t|ar l|ve ]ea|s 20,292.32 11,310.27
late| t|ar l|ve ]ea|s 3,231.96 1,c11.51
I|e aç|ee¤erts a|e e·ecutec lc| pe||ccs |arç|rç l|c¤ 33 tc 288 ¤crt|s w|t| a rcr-carce||au|e pe||cc at t|e ueç|rr|rç cl
t|e aç|ee¤ert |arç|rç l|c¤ 33 tc 108 ¤crt|s arc |av|rç a |erewau|e c|ause.
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(A|| amouots |o |acs}
Mar-11 Va|-10
24. (a} IAk 6hAßßE
I|e ta· e·perse lc| t|e ]ea| cc¤p||ses cl.
|rcc¤e Ia·
÷ Cu||ert Ia· 3,788.68 1,915.17
÷ Dele||ec Ia· 262.00 (117.c0}
÷ V/I C|ec|t (163.04} ÷
÷ Ia· acjust¤erts/p|cv|s|cr lc| ea|||e| ]ea|s ÷ 1c1.88
÷ |||rçe Berel|ts Ia· ÷ 3.00
3,887.64 1,c35.15
(b} ßEFEßßEß IAk A88EI (NEI}
Vajc| cc¤pcrerts cl Dele||ec Ia· /sset arc l|au|||t] a|e as lc||cws.
Dele||ec Ia· ||au|||t]
0r l|sca| a||cwarces cr l|·ec assets 126.87 ÷
126.87 ÷
Dele||ec Ia· /ssets
0r l|sca| a||cwarces cr l|·ec assets ÷ 281.27
0r p|cv|s|cr lc| ccuutlu| ceuts/acvarces 340.60 59.1c
0r l|sca| a||cwarces cr e·perc|tu|e w|er pa|c 111.27 111.27
451.87 155.00
Dele||ec ta· asset (|et} 325.00 155.00
(c} ßoIorrod Iax I|ab|||ty
Vajc| cc¤pcrerts cl Dele||ec Ia· l|au|||t] a|e as lc||cws.
Dele||ec ta· ||au|||t]
0r l|sca| a||cwarces cr l|·ec assets 222.41 ÷
222.41 ÷
Dele||ec Ia· /ssets
0r l|sca| a||cwarces cr e·perc|tu|e w|er pa|c 8.69 ÷
urausc|uec cep|ec|at|cr 81.72 ÷
90.41 ÷
Dele||ec ta· l|au|||t] (|et} 132.00 ÷
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(A|| amouots |o |acs}
25. EMFI0¥EE ßENEFII8 Mar-11 Va|-10
Fost-omp|oymoot boooI|ts
ßoI|ood cootr|but|oo p|aos
Cc¤par]'s ccrt||uut|cr tc ||cv|cert |urc 657.85 385.18
ßoI|ood boooI|t schomo-ßratu|ty
a. 6ompoooot oI Emp|oyor Expooso
Cu||ert Se|v|ce Ccst 123.09 73.81
|rte|est Ccst 24.04 21.22
E·pectec Retu|r cr ||ar assets (26.72} (20.55}
/ctua||a| lcsses 91.55 11.c0
211.96 89.11
b. 6haogo |o ßoI|ood ßoooI|t 0b||gat|oos (ßß0}
||esert Va|ue cl DB0 at t|e Beç|rr|rç cl |e||cc 268.81 285.21
/ccu||ec cr /ccus|t|cr cl |]pe|c|t] 49.98 ÷
Cu||ert Se|v|ce Ccst 123.09 73.81
|rte|est Ccst 24.04 21.22
/ctua||a| lcsses 93.55 (1.85}
Berel|ts pa|c/t|arsle||ec (24.26} (109.c1}
||esert Va|ue cl DB0 at t|e Erc cl |e||cc 535.21 2c8.81
c. 6haogo |o Fa|r va|uo oI Assots
||ar /ssets at t|e Beç|rr|rç cl |e||cc 263.81 281.15
/ccu||ec cr /ccus|t|cr cl |]pe|c|t] 68.68 ÷
E·pectec Retu|r cr ||ar /ssets 26.72 20.55
/ctua||a| Ca|rs/(lcsses} 2.00 (1c.25}
/ctua| Cc¤par] Ccrt||uut|cr 89.94 87.c7
Berel|ts pa|c/t|arsle||ec (24.26} (109.c1}
||ar /ssets at t|e Erc cl |e||cc 426.89 2c3.81
d. Not Assot/(I|ab|||ty} ßocogo|sod |o ßa|aoco 8hoot
||esert Va|ue cl Del|rec Berel|t 0u||çat|cr 535.21 2c8.81
|a|| Va|ue cl ||ar /ssets 426.89 2c3.81
Status [Su|p|us/(Del|c|t}[ (108.32} (5.00}
ur|eccçr|sec |ast Se|v|ce Ccst ~ ÷
|et /sset/(l|au|||t]} Reccçr|sec |r Ba|arce S|eet (108.32} (5.00}
o. Actuar|a| assumpt|oos
D|sccurt Rate 7.75%-8.25% p.a. 7.50º÷8.25º p.a.
E·pectec Retu|r cr ||ar /ssets 8.00% p.a. 8.00º p.a.
Rate cl |rc|ease |r sa|a||es 4.00-5.00% p.a. 1.00÷5.00º p.a.
Rate cl /tt||t|cr 2.00-13.76% 2.00÷13.7cº
I. Not Assot/(I|ab|||ty} rocogo|sod |o ßa|aoco 8hoot (|oc|ud|og oxpor|ooco adjustmoot |mpact}
31 March 31 March 31 March 31 March
2011 2010 2009 2008
||esert Va|ue cl t|e Del|rec Berel|t 0u||çat|cr 535.21 2c8.81 285.21 192.c0
|a|| Va|ue cl t|e ||ar /ssets 12c.89 2c3.81 281.15 192.c0
Su|p|us/(Del|c|t} |r t|e ||ar (108.32} (5.00} (3.7c} ÷
E·pe||erce /cjust¤erts a||s|rç cr ||ar l|au|||t|es ÷ lcsses/(Ca|rs} 120.21 (19.15} (0.11} ÷
E·pe||erce /cjust¤erts a||s|rç cr ||ar /ssets ÷ Ca|rs/(lcsses} 3.09 (1c.15} (15.83} ÷
I|e ç|cup e·pects tc ccrt||uute 125.39 |acs tc |ts C|atu|t] p|ar lc| t|e re·t ]ea|.
|r assess|rç t|e ç|cup |cst Ret||e¤ert l|au|||t|es, t|e ç|cup ¤cr|tc|s ¤c|ta||t] assu¤pt|crs arc uses up-tc-cate ¤c|ta||t] tau|es. I|e
uase ue|rç t|e l|C 1991-9c u|t|¤ate tau|es.
E·pectec |etu|r cr p|ar assets |s uasec cr e·pectat|cr cl t|e ave|açe |crç-te|¤ |ate cl |etu|r e·pectec cr |rvest¤erts cl t|e lurc
cu||rç t|e est|¤atec te|¤ cl t|e cu||çat|crs.
I|e est|¤ates cl lutu|e sa|a|] |rc|eases ccrs|ce|ec |r actua||a| va|uat|cr ta|e acccurt cl |rl|at|cr, ser|c||t], p|c¤ct|cr arc ct|e| |e|evart
lactc|s, suc| as supp|] arc ce¤arc |r t|e e¤p|c]¤ert ¤a||et.
I|e ç|atu|t] uerel|t sc|e¤e cl t|e ç|cup |s ¤araçec u] l|le |rsu|arce Cc|pc|at|cr cl |rc|a (l|C}. I|e ç|cup |s cu||ert|] awa|t|rç t|e
ceta||s cl t|e cc¤pcs|t|cr cl t|e p|ar assets, u] cateçc|], l|c¤ t|e l|C lc| t|e cu||ert arc t|e p|ev|cus ]ea|s arc |erce t|e c|sc|csu|es
as |ecu||ec u] /cccurt|rç Starca|c (/S} - 15 cr E¤p|c]ee Berel|ts |ave rct ueer ç|ver.
Shoppers Stop Ltd. lotes to Couso|idated Fiuaucia| Statemeuts
/rrua| Repc|t 2010-11 | 12c
26. ßEIAIEß FAßI¥ ßI86I08üßE8
|c||cw|rç a|e t|e ¤ate||a| t|arsact|cr w|t| |e|atec pa|t|es. (A|| amouots |o |acs, uo|oss othorw|so statod}
Naturo 6ompao|os
uodor commoo
cootro|/
s|go|I|caot
|oI|uooco (roIor
(b} bo|ow}
Jo|ot
vooturos
koy
Maoagomoot
Forsoooo|
Iota|
Furchaso oI Assots ÷ ÷ ÷ ÷
|]pe|c|t] Reta|| (|rc|a} l|¤|tec ÷ ÷ ÷ ÷
(1.18} ÷ ÷ (1.18}
8a|o oI Assots ÷ ÷ ÷ ÷
|]pe|c|t] Reta|| (|rc|a} l|¤|tec ÷ ÷ ÷ ÷
(209.c7} ÷ ÷ (209.c7}
8a|o oI Morchaod|so ÷ 38.12 ÷ 38.12
|uarce C|cup (|rc|a} |||vate l|¤|tec ÷ 38.12 ÷ ÷
(1.29} (31.52} ÷ (35.81}
Faymoot oI cooduct|og Ioos/Ioaso ßoot/
6ommoo Aroa Ma|otooaoco 6hargos
c,931.27 ÷ ÷ c,931.27
|vc|] ||cpe|t|es arc |cte|s |||vate l|¤|tec 1,8c5.82 ÷ ÷ ÷
|rc|u|t Va||s (|rc|a} |||vate l|¤|tec 2,939.31 ÷ ÷ ÷
/vacacc ||cpe|t|es arc I|ac|rç |rc|a |||vate
l|¤|tec
193.12 ÷ ÷ ÷
K. Ra|eja |I |a|| (|]ce|auac} |||vate l|¤|tec ÷ ÷ ÷ ÷
I||cr ||cpe|t|es |||vate l|¤|tec 1,93c.02 ÷ ÷ ÷
(3,810.28} ÷ ÷ (3,810.28}
Expoosos Fa|d 38c.83 ÷ ÷ 38c.83
K. Ra|eja Cc|p. |||vate l|¤|tec 8.1c ÷ ÷ ÷
|rc|u|t Va||s (|rc|a} |||vate l|¤|tec 205.32 ÷ ÷ ÷
/vacacc ||cpe|t|es arc I|ac|rç |rc|a |||vate
l|¤|tec
0.87 ÷ ÷ ÷
I||cr ||cpe|t|es |||vate l|¤|tec 172.18 ÷ ÷ ÷
(109.c9} ÷ ÷ (109.c9}
Iotorost ßoco|vod ÷ 22.18 ÷ 22.18
I|¤etcre Erte|ta|r¤ert |vt. ltc. ÷ 22.18 ÷ ÷
(578.75} ÷ ÷ (578.75}
Iotorost Expoosos 30.73 ÷ ÷ 30.73
K. Ra|eja |||vate l|¤|tec 30.73 ÷ ÷ ÷
|vc|] ||cpe|t|es arc |cte|s |||vate l|¤|tec ÷ ÷ ÷ ÷
(1.85} ÷ ÷ (1.85}
ßopos|ts Fa|d 329.22 ÷ ÷ 329.22
/vacacc ||cpe|t|es arc I|ac|rç |rc|a |||vate
l|¤|tec
207.c7 ÷ ÷ ÷
|vc|] ||cpe|t|es arc |cte|s |||vate l|¤|tec ÷ ÷ ÷ ÷
K. Ra|eja |I |a|| (|]ce|auac} |||vate l|¤|tec ÷ ÷ ÷ ÷
I||cr ||cpe|t|es |||vate l|¤|tec 121.55 ÷ ÷ ÷
(330.22} ÷ ÷ (330.22}
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Naturo 6ompao|os
uodor commoo
cootro|/
s|go|I|caot
|oI|uooco (roIor
(b} bo|ow}
Jo|ot
vooturos
koy
Maoagomoot
Forsoooo|
Iota|
ßo|mbursomoot oI Expoosos 531.91 13.37 ÷ 515.31
|rc|u|t Va||s (|rc|a} |||vate l|¤|tec 151.35 ÷ ÷ ÷
I||cr ||cpe|t|es |||vate l|¤|tec 80.59 ÷ ÷ ÷
|uarce C|cup (|rc|a} |||vate l|¤|tec ÷ 13.37 ÷ ÷
(c03.c9} (19.11} ÷ (c22.80}
Expoosos ßocovorod ÷ 21.22 ÷ 21.22
|uarce C|cup (|rc|a} |||vate l|¤|tec ÷ 21.22 ÷ ÷
(350.08} ÷ (350.08}
Iovostmoots Mado ÷ 390.57 ÷ 390.57
I|¤etcre Erte|ta|r¤ert |||vate l|¤|tec ÷ 390.57 ÷ ÷
(950.00} ÷ ÷ (950.00}
ßopos|t ßoco|vod ßack 3c.11 ÷ ÷ 3c.11
|vc|] ||cpe|t|es arc |cte|s |||vate l|¤|tec 3c.11 ÷ ÷ ÷
K. Ra|eja |I |a|| (|]ce|auac} |||vate l|¤|tec ÷ ÷ ÷ ÷
(17.51} ÷ ÷ (17.51}
Ioao ß|voo ÷ ÷ ÷ ÷
I|¤etcre Erte|ta|r¤ert |||vate l|¤|tec ÷ ÷ ÷ ÷
(9,589.50} (110.00} ÷ (9,c99.50}
Ioao Iakoo 1,050.00 ÷ ÷ 1,050.00
K. Ra|eja |||vate l|¤|tec 1,050.00 ÷ ÷ ÷
(130.18} ÷ ÷ (130.18}
Ioao ßopa|d 2,10c.15 ÷ ÷ 2,10c.15
K. Ra|eja |||vate l|¤|tec 2,10c.15 ÷ ÷ ÷
(310.c5} ÷ ÷ (310.c5}
Issuo oI Equ|ty/FroIorooco 8haros 15,c1c.20 ÷ ÷ 15,c1c.20
Ete|rus lcç|st|cs |vt. ltc.(||ele|erce S|a|es} 911.50 ÷ ÷ ÷
Suppc|t ||cpe|t|es |vt. ltc.(||ele|erce S|a|es} 2,111.50 ÷ ÷ ÷
Raç|u|cc| Estate Deve|cp¤ert |||vate l|¤|tec 1,100.85 ÷ ÷ ÷
Capstar I|ac|rç |||vate l|¤|tec 1,100.85 ÷ ÷ ÷
Casa Va||a p|cpe|t|es |||vate l|¤|tec 1,085.50 ÷ ÷ ÷
÷ (110.00} ÷ (110.00}
ßocovory oI Ioao ÷ ÷ ÷ ÷
|]pe|c|t] Reta|| (|rc|a} l|¤|tec ÷ ÷ ÷ ÷
(5,955.00} ÷ ÷ (5,955.00}
Advaoco to ß|roctors ÷ ÷ ÷ ÷
÷ ÷ (211.0c} (211.0c}
ßomuoorat|oo to ß|roctors ÷ ÷ 3c9.71 3c9.71
÷ ÷ (171.92} (171.92}
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ßa|aoco outstaod|og at tho yoar ood
ßoco|vab|os
/vacacc ||cpe|t|es arc I|ac|rç |rc|a |||vate l|¤|tec 315.20
÷
|]pe|c|t] Reta|| (|rc|a} l|¤|tec ÷
(3,082.13}
|vc|] ||cpe|t|es arc |cte|s |||vate l|¤|tec 1,211.55
(1,082.c2}
|rc|u|t Va||s (|rc|a} |||vate l|¤|tec 931.11
(c15.8c}
I|¤etcre Erte|ta|r¤ert |||vate l|¤|tec 5cc.29
(111.07}
|uarce C|cup (|rc|a} |||vate l|¤|tec 133.79
(51.78}
I||cr ||cpe|t|es |||vate l|¤|tec 337.95
(21c.10}
Ke] Varaçe¤ert |e|scrre| ÷
(211.0c}
I|e l|çu|e |r u|ac|et pe|ta|r tc p|ev|cus ]ea|.
Namos oI ro|atod part|os aod doscr|pt|oo oI ro|at|oosh|p:
(a} ||c¤cte| c||ectc|s |av|rç ccrt|c|/s|çr|l|cart C. l. Ra|eja, Rav| C. Ra|eja, |ee| C. Ra|eja
|rl|uerce cve| cc¤par|es statec |r (u} ue|cw
(u} Cc¤par|es |r w||c| t|e pe|scrs statec |r (a} |vc|] ||cpe|t|es arc |cte|s |||vate l|¤|tec, K.Ra|eja Cc|p. |||vate
aucve |ave ccrt|c|/s|çr|l|cart |rl|uerce l|¤|tec, K. Ra|eja |||vate l|¤|tec, |rc|u|t Va||s (|rc|a} |||vate l|¤|tec,
|]pe|c|t] Reta|| (|rc|a} l|¤|tec, /vacacc ||cpe|t|es arc I|ac|rç |rc|a
|||vate l|¤|tec, K. Ra|eja |I |a|| (|]ce|auac} |||vate l|¤|tec, I||cr
||cpe|t|es |||vate l|¤|tec.
(c} Jc|rt Vertu|es |uarce C|cup (|rc|a} |||vate l|¤|tec.
I|¤etcre Erte|ta|r¤ert |||vate l|¤|tec.
(c} Ke] Varaçe¤ert |e|scrre| E·ecut|ve D||ectc|. Ccv|rc S|||||arce
|cr E·ecut|ve D||ectc|s. C|arc|u l. Ra|eja
Rav| Ra|eja
|ee| Ra|eja
B. S. |açes|
Cu|u l. V||c|arcar|
S|a|taac Da|a|
||t|r Sarç|av|
Deepa| C|a|sas
|||v|| S|rç|
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27. 8EßMENI ßEF0ßIINß
|} |rlc|¤at|cr aucut p||¤a|] uus|ress seç¤erts.
(A|| amouots |o |acs}
Mar-11 Va|-10
Fart|cu|ars ßota||
0porat|oos
0thors Iota| Reta||
0pe|at|crs
0t|e|s Icta|
ßEvENüE
E·te|ra| Sa|es 221,958.83 1,265.69 223,224.52 111,171.c2 710.97 111,915.59
Iota| ßovoouo 221,958.83 1,265.69 223,224.52 111,171.c2 710.97 111,915.59
ßE8üII8
Seç¤ert 0pe|at|rç Resu|ts 8,834.63 (173.19} 8,661.44 7,853.57 (91.57} 7,759.00
|rte|est E·perses (2,952.90} (2,513.28}
||cv|s|cr lc| Ia·at|cr (3,887.64} (1,c35.15}
FroI|t boIoro m|oor|ty |otorost 1,820.90 3,580.27
0IhEß INF0ßMAII0N
Seç¤ert /ssets 114,782.53 1,159.16 115,941.69 78,c22.12 1,0c3.50 79,c85.c2
Iota| Assots 115,941.69 79,c85.c2
Seç¤ert l|au|||t|es 65,007.66 844.44 65,852.10 50,770.19 79c.0c 51,5cc.25
Iota| I|ab|||t|os 65,852.10 51,5cc.25
Seç¤ert Dep|ec|at|cr 4,415.60 273.84 4,689.44 3,c18.58 188.51 3,807.09
Iota| ßoproc|at|oo 4,689.44 3,807.09
Seç¤ert Cap|ta| E·perc|tu|e 14,149.35 338.18 14,487.53 7,177.31 211.23 7,391.51
Iota| 6ap|ta| Expood|turo 14,487.53 7,391.51
||} I|e cc¤par] cpe|ates |r a s|rç|e çecç|ap||ca| erv||cr¤ert |.e. |r |rc|a.
28. ßI860NIINüINß 0FEßAII0N8:
I|e Bca|c cl D||ectc|s cl Catewa] Vu|t|c|arre| Reta|| (|rc|a} l|¤|tec (Catewa]}, a suus|c|a|] cl SSl |ac cec|cec tc c|sccrt|rue
cpe|at|cr |r Jarua|] 2009. SSl |as cc¤¤|ttec tc p|cv|ce t|e recessa|] |eve| cl suppc|t, tc erau|e Catewa] tc |e¤a|r |r e·|sterce
arc ccrt|rue as a çc|rç ccrce|r t||| suc| t|¤e as |t |ea||ses |ts assets arc sett|es |ts ||au|||t|es.
I|e tcta| assets arc ||au|||t|es cl Catewa] as at Va|c| 31, 2011 açç|eçatec 10.83 |acs (||ev|cus ]ea| 77.15 |acs} arc
1,19c.59 |acs (||ev|cus ]ea| 1,508.9c |acs} |espect|ve|].
I|e ret cas| l|cws att||uutau|e tc cpe|at|rç, |rvest|rç arc l|rarc|rç act|v|t|es cl Catewa] cu||rç t|e ]ea|, açç|eçatec (2.c1} |acs
(||ev|cus ]ea| (1c8.21} |acs}, ||| (||ev|cus ]ea| (211.30} |acs} arc (10.09} |acs (||ev|cus ]ea| 3c7.99 |acs} |espect|ve|].
Shoppers Stop Ltd. lotes to Couso|idated Fiuaucia| Statemeuts
/rrua| Repc|t 2010-11 | 130
8tatomoot show|og tho rovoouo aod oxpoosos oI coot|ou|og aod d|scoot|ou|og oporat|oos: (A|| amouots |o |acs}
Fart|cu|ars
31 March 2011 31 Va|c| 2010
6oot|ou|og
oporat|oos
ß|scoot|ou|og
oporat|oos
(ßatoway}
Iota| Ccrt|ru|rç
cpe|at|crs
D|sccrt|ru|rç
cpe|at|crs
(Catewa]}
Icta|
ßEvENüE
Sa|es/|rcc¤e 223,221.52 ÷ 223,221.52 111,915.59 ÷ 111,915.59
0t|e| |rcc¤e 510.1c 1.11 511.30 925.01 2.10 927.11
Iota| ßovoouo 223,734.68 1.14 223,735.82 145,840.60 2.40 145,843.00
0pe|at|rç E·perses 215,019.08 55.29 215,071.37 138,0c5.91 18.09 138,081.00
|rte|est E·perse 2,952.81 0.09 2,952.90 2,513.17 0.11 2,513.28
FroI|t/(Ioss} boIoro tax 5,762.79 (54.25} 5,708.54 5,231.52 (15.80} 5,215.72
|rcc¤e ta· 3,887.c1 -÷ 3,887.c1 1,c35.15 ÷ 1,c35.15
FroI|t/(Ioss} aItor tax 1,875.15 (54.25} 1,820.90 3,596.07 (15.80} 3,580.27
29. E80F 0üI8IANßINß
Fart|cu|ars Mar-11 Va|-10
0per|rç Ba|arce 20.14 31.82
less. I|arsle| tc secu||t|es p|e¤|u¤ cr e·e|c|se cl cpt|crs (13.09} (8.25}
less. 0pt|crs |apsec cu||rç t|e ]ea| (1.95} (3.13}
C|cs|rç Ba|arce 5.10 20.11
30. EAßNINß FEß 8hAßE (EF8} I8 6AI6üIAIEß A8 F0II0W8:
(/|sc see |cte 31}
Fart|cu|ars Mar-11 Va|-10
(a} ||cl|t/(lcss} att||uutau|e tc ecu|t] s|a|e |c|ce|s ( |r |acs} 4,319.57 3,588.01
(u} We|ç|tec |u¤ue| cl ecu|t] s|a|es cutstarc|rç cu||rç t|e ]ea| 78,998,136 75,939,c39
(c} We|ç|tec |u¤ue| cl ecu|t] s|a|es cutstarc|rç cu||rç t|e ]ea|
alte| acjust¤ert lc| c||ut|cr 79,817,199 7c,8cc,800
(c} |c¤|ra| va|ue pe| s|a|e (} 5 5
(e} E|S.
÷ Bas|c (} 5.47 1.72
÷ D||utec (} 5.41 1.c7
31. I|e Bca|c cl D||ectc|s arc s|a|e|c|ce|s cl t|e Cc¤par] at t|e|| ¤eet|rçs |e|c cr 0ctcue| 29, 2010 arc Dece¤ue| 23, 2010
|espect|ve|] app|cvec suu c|v|s|cr cl ecu|t] s|a|e cl 10/- eac| |rtc twc ecu|t] s|a|es cl 5/- eac|. I|e Cc¤par] l|·ec Jarua|] 13,
2011 as t|e Recc|c Date, lc| t|e sa|c suu c|v|s|cr arc as cr cate, t|e ecu|t] s|a|es cl t|e cc¤par] we|e suu c|v|cec. /ccc|c|rç|],
t|e uas|c arc c||utec E|S lc| t|e cu||ert arc p||c| ]ea| |ave ueer cc¤putec cr t|e uas|s cl t|e sa|c suu-c|v|s|cr.
32. Du||rç t|e ]ea|, t|e Cc¤par] |as s|¤u|tarecus|] a||cttec 20,00,000 ecu|t] s|a|es tc 0ua||l|ec |rst|tut|cra| Bu]e|s (0|Bs} arc
10,00,000 ecu|t] s|a|es tc ||c¤cte|s pu|suart tc t|e ccrve|s|cr cl cpt|cra||] ccrve|t|u|e wa||arts lc| ar açç|eçate |ssue p||ce cl
12,980 |acs arc 12,287.20 |acs ( 3,071.80 |acs |ece|vec |r 2010 ue|rç 25º cl tcta| p||ce} |espect|ve|]. I|e p|e¤|u¤ |ece|vec
açç|eçatec 21,cc7.20 |acs.
Shoppers Stop Ltd. lotes to Couso|idated Fiuaucia| Statemeuts
/rrua| Repc|t 2010-11 | 131
lotes to Couso|idated Fiuaucia| Statemeuts
(A|| amouots |o |acs, uo|oss othorw|so statod}
33. I|e Ccrsc||catec ||rarc|a| State¤erts |ave ueer p|epa|ec |r accc|carce w|t| /cccurt|rç Starca|c 21 (/S 21} ÷ ''Ccrsc||catec
||rarc|a| State¤erts'', arc /cccurt|rç Starca|c 27 (/S 27} ÷ ''||rarc|a| Repc|t|rç cl |rte|ests |r Jc|rt Vertu|es'' as rct|l|ec u]
Cc¤par|es (/cccurt|rç Starca|cs} Ru|es, 200c.
(a} I|e suus|c|a||es (w||c| a|crçw|t| S|cppe|s Stcp l|¤|tec, t|e pa|ert, ccrst|tute t|e C|cup} ccrs|ce|ec |r t|e p|epa|at|cr cl
t|ese Ccrsc||catec ||rarc|a| State¤erts a|e.
Namo 6ouotry oI
Iocorporat|oo
Forcootago oI owoorsh|p
|otorost o|thor d|roct|y or through subs|d|ary
31 March 2011 31 March 2010
|]pe|c|t] Reta|| (|rc|a} l|¤|tec' |rc|a 51 19
C|csswc|c Bcc| Stc|es l|¤|tec |rc|a 100 100
upasra I|ac|rç l|¤|tec |rc|a 100 100
S|cppe|s Stcp Se|v|ces (|rc|a} l|¤|tec |rc|a 100 100
S|cppe|s Stcp.Cc¤ (|rc|a} l|¤|tec |rc|a 100 100
Catewa] Vu|t|c|arre| Reta|| (|rc|a} l|¤|tec |rc|a 51(|r acc|t|cr |]pe|c|t]
|c|cs 19º}
51
' |]pe|c|t] ueca¤e a suus|c|a|] w.e.l. Jure 30, 2010.
(u} |rte|ests |r Jc|rt Vertu|es.
I|e C|cup's |rte|ests |r jc|rt|] ccrt|c||ec ert|t|es (|rcc|pc|atec Jc|rt Vertu|es} a|e.
Namo 6ouotry oI
Iocorporat|oo
Forcootago oI owoorsh|p
|otorost o|thor d|roct|y or through subs|d|ary
31 March 2011 31 March 2010
|uarce C|cup (|rc|a} |||vate l|¤|tec |rc|a 50 50
I|¤etcre Erte|ta|r¤ert |||vate l|¤|tec |rc|a 1c.89 15
I|e l|rarc|a| state¤erts cl t|e jc|rt vertu|es, ccrs|ce|ec |r t|e ccrsc||catec acccurts, a|e c|awr uptc 31st Va|c| ct|e| t|ar
lc| |uarce C|cup (|rc|a} |||vate l|¤|tec w|e|e |t |s uptc 31st Dece¤ue|.
I|e C|cup's |rte|est |r t|ese jc|rt vertu|es |s acccurtec lc| us|rç p|cpc|t|crate ccrsc||cat|cr.
(c} I|ese Ccrsc||catec ||rarc|a| State¤erts a|e uasec, |r sc la| as t|e] |e|ate tc a¤curts |rc|ucec |r |espect cl suus|c|a||es arc
jc|rt vertu|es cr t|e auc|tec l|rarc|a| state¤erts p|epa|ec lc| ccrsc||cat|cr |r accc|carce w|t| t|e |ecu||e¤erts, cl /S 21 arc
/S 27 u] eac| cl t|e |rc|ucec ert|t|es.
(c} Ccccw||| cr ccrsc||cat|cr |rc|uces çcccw||| cl 8799.19 lacs cr accu|s|t|cr cl |]pe|c|t]. I|e pcst-accu|s|t|cr |csses cl
|]pe|c|t] (uelc|e ¤|rc||t] s|a|e cl |css cl 2185.c1 lacs} a¤curtec tc 5072.80 lacs arc |ave ueer ccrs|ce|ec |r t|e
ccrsc||catec |esu|ts lc| t|e ]ea|. /|sc |ele| |cte 31a ue|cw.
34a. I|e ceta||s cl t|e suus|c|a|] cc¤par|es a|e ç|ver |r t|e /rre·u|e.
34b. ||çu|es cl t|e p|ev|cus ]ea| a|e |eç|cupec, w|e|e recessa|], tc ccrlc|¤ tc t|cse cl t|e cu||ert ]ea|.
Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 132
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Shoppers Stop Ltd. lotes to Couso|idated Fiuaucia| Statemeuts
/rrua| Repc|t 2010-11 | 133
Shoppers Stop Ltd. lotes
/rrua| Repc|t 2010-11 | 131
Shoppers Stop Ltd. lotes
/rrua| Repc|t 2010-11 | 135
Shoppers Stop Ltd. lotes
/rrua| Repc|t 2010-11 | 13c
doc_121253294.pdf
The evolution of the brand Shoppers Stop began when the baseline of the brand logo changed with
ever-rising customer aspirations. From the 'Ultimate Shopping Experience' in 1992 and 'Feel the
experience while you shop' in 1993, to 'Shopping. And beyond.' in 2005, the brand journey speaks
about a paradigm shift from enjoying the international shopping experience to shopping for
emotional fulfilments: for example, buying a diamond ring for your loved one to express your love or
flaunting your status.
This changed to 'Start Something New' in 2008 as a part of the Brand's Makeover strategy, but still
connecting to the current mindset of customers to constantly upgrade and experiment.
Auuua| Report 2O1O-11 O1
20 YE/RS. 20 l/K|S l0Y/l CuSI0VERS. /rc t|e jcu|re] çces cr. S|cppe|s Stcp |as ueer
p|cree||rç t|e ¤cce|r |eta|| |rcust|] |r |rc|a lc| 2 cecaces, a|wa]s sta]|rç cre step a|eac.
I|ar|s tc t|e Cc¤par]s c|||çerce, e·pe|t|se arc c|ec|u|||t], S|cppe|s Stcp |as uecc¤e t|e
||ç|est uerc|¤a|| lc| t|e |rc|ar ¤cce|r |eta|| |rcust|], p|cv|c|rç t|e u|t|¤ate |r custc¤e|
sat|slact|cr ac|css t|e ccurt|]. |t c|eatec a Wc||c C|ass s|cpp|rç e·pe||erce
u] ta||rç t|e l||st step tcwa|cs a rew e|a cl las||cr arc ||lest]|e.
|ts ueer 20 ]ea|s cl ccrstart evc|ut|cr arc ||¤|t|ess |rrcvat|cr.
|ts ueer 20 ]ea|s cl up|c|c|rç t|e p|||cscp|] tc a|wa]s "Start Somethiug lew."
MlLEST0lES
Auuua| Report 2O1O-11 O2
1991
0lle||rç e·parcec tc |rc|uce su|t|rç, uc]swea| arc |ac|es ¤e|c|arc|se .
1992
1993
/ccec Casua|s, K|cswea|, Jewe||e|], ||aç|arces, Ccs¤et|cs arc Watc|es ¤a||rç S|cppe|s
Stcp |rc|a's l||st eve| cepa|t¤erta| stc|e.
1994
S|cppe|s Stcp |aurc|ec ar e·c|us|ve |c]a|t] p|cç|a¤ t|t|ec 'I|e |||st C|t|ter's C|uu' arc
'SI0|' t|e l||st |r-|cuse |aue|.
1995
|||st steps tcwa|cs a par-|rc|a p|eserce. S|cppe|s Stcp |aurc|ec |ts seccrc stc|e |r
Berça|u|u.
Shoppers Stop's jouruey to becomiug a |eader iu the moderu retai| marlet has beeu dotted with successes.
0ver the years, it has bui|t up a ster|iug reputatiou with its dedicatiou to striugeut qua|ity of products,
superior customer care aud uupara||e|ed shoppiug experieuce.
Auuua| Report 2O1O-11 O3
MAkINß
ßßEAkIhß0üßh8
1997
S|cppe|s Stcp |rcc|pc|atec as a ucc] cc|pc|ate. laurc|ec |a||||a¤a, a lest|va| tc ce|eu|ate |rc|ar
t|ac|t|cr arc cu|tu|e.
Sc|e |eta||e| tc ue awa|cec t|e |rte|ccrt|rerta| C|cup cl Depa|t¤ert Stc|es (|CDS} ¤e¤ue|s||p.
|rst|tutec Custc¤e| Ca|e /sscc|ate as t|e cc¤¤cr ces|çrat|cr lc| a|| e¤p|c]ees.
1998
1999
Reta|| |evc|ut|cr tcc| |ccts |r |c|t| |rc|a w|t| t|e |aurc| cl stc|es |r /rsa| ||ata (De|||} arc Ja|pu|.
2000
|rc|a's pcpu|a| c|a|r cl ucc|stc|es, C|csswc|c, ueca¤e a pa|t cl S|cppe|s Stcp. S|cppe|s Stcp
|aurc|ec |r C|erra|.
2001
|||st |rc|ar |eta||e| tc accpt Erte|p||se Rescu|ce ||arr|rç (ER|} |r asscc|at|cr w|t| J.D. /|¤st|crç tc
st|erçt|er p|ccesses.
2003
|as||cr steppec |rtc t|e East w|t| t|e |aurc| cl a stc|e |r Kc||ata.
2004
S|cppe|s Stcp was vctec |rc|a's ¤cst lavcu|ec |eta|| cest|rat|cr cl t|e ]ea| u] |¤açes Reta|| Rewa|c.
Auuua| Report 2O1O-11 O4
1996
S|cppe|s Stcp ueçar |ts jcu|re] cl e·c|t|rç ¤a||et|rç p|c¤ct|crs arc |r-stc|e e·c|te¤ert w|t| a l||st cl
|ts ||rc '|est|va| cl B||ta|r', ce|eu|atec |r asscc|at|cr w|t| t|e cc¤¤e|c|a| cepa|t¤ert cl t|e B||t|s|
Ccrsu|ate.
2005
|c¤eStcp ÷ |c¤e reecs spec|a||st stc|e |aurc|ec |r Berça|u|u. S|cppe|s Stcp ||0
cve|suusc||uec cve|a|| u] 17.25 t|¤es. 'C|csswc|c' ueca¤e a w|c||] cwrec suus|c|a|] cl t|e
Cc¤par]. B|arc pcs|t|cr|rç c|arçec l|c¤ '|ee| t|e e·pe||erce' tc 'S|cpp|rç. /rc ue]crc'.
Vct|e|ca|e |aurc|ec |r |rc|a u] S|cppe|s Stcp. Dec|a|ec 'Reta||e| cl t|e ]ea|' at t|e |¤açes
|as||cr |c|u¤.
2006
C|eatec ¤cv|e ¤e|c|arc|s|rç ||stc|] w|t| t|e urve|||rç cl t|e 0¤ S|art| 0¤ cc||ect|cr.
Ce|eu|atec t|e |aurc| w|t| S|a||u|| K|ar, Deep||a |acu|cre arc /|jur Ra¤pa| ¤cce|||rç t|e
c|ct|es at a las||cr s|cw. I|e Cc¤par] accu||ec a 19º sta|e |r |]pe|c|t]. |e||c|tatec t|e Cc|c
S||e|c /wa|c u] |C/| lc| E·ce||erce |r ||rarc|a| Repc|t|rç lc| t|e Yea| 200c |r t|e Varulactu||rç c
I|ac|rç Erte|p||se cateçc|].
2007
2008
S|cppe|s Stcp was awa|cec t|e 'E¤e|ç|rç ¤a||et |eta||e| cl t|e Yea|' at t|e Wc||c Reta||
ccrç|ess |r /p||| 2008. V|. |açes| |as ueer |rcuctec |rtc t|e 'Wc||c Reta|| |a|| cl |a¤e' at t|e
Wc||c Reta|| Ccrç|ess |r Ba|ce|cra. S|cppe|s Stcp |epcs|t|crec arc |e|rvertec as a 'u||cçe tc
|u·u|]' u|arc w|t| t|e urve|||rç cl t|e rew |cçc arc taç||re, 'SI/RI S0VEI|||C |EW'.
Auuua| Report 2O1O-11 O5
2009
||cree|ec ¤ascct ||cers|rç t||cuç| ar e·c|us|ve t|e-up lc| ce|ta|r p|ccucts w|t| Vccalcre lc| t|e||
pcpu|a| u|arc ¤ascct Zcctcc.
2010
0pe|at|crs e·parcec tc 3c stc|es ac|css 15 c|t|es.
2011
Reccçr|sec as t|e 'Vcst Respectec Cc¤par] |r t|e Reta|| Sectc|' u] Bus|ress Wc||c.
BRAND
JOURNEY
The evolution of the brand Shoppers Stop began when the baseline of the brand logo changed with
ever-rising customer aspirations. From the 'Ultimate Shopping Experience' in 1992 and 'Feel the
experience while you shop' in 1993, to 'Shopping. And beyond.' in 2005, the brand journey speaks
about a paradigm shift from enjoying the international shopping experience to shopping for
emotional fulfilments: for example, buying a diamond ring for your loved one to express your love or
flaunting your status.
This changed to 'Start Something New' in 2008 as a part of the Brand's Makeover strategy, but still
connecting to the current mindset of customers to constantly upgrade and experiment.
1991 – A beginning: Exclusively Male
BRAND
REINVENTION
Annual Report 2010-11 08
1992 – Becoming a family stop
1993 – Grabbing attention
1994 – Infusing excitement
Annual Report 2010-11 09
1996 – Bringing in an International Experience
1998 – Not forgetting our roots
2002 – Emotionally Bonding with the market
Annual Report 2010-11 10
2003 – Outdoing customer expectations
2004 – Presenting the Corporate Entity
2005 – Evolving as a Brand to: Shopping. And beyond.
Annual Report 2010-11 11
2007 – Being simply irresistible
2008 – Thinking ahead and revamping
ourselves with changing times
2010 – Riding current times
hR
PRACTlCES
Auuua| Report 2O1O-11 12
Auuua| Report 2O1O-11 13
INN0vAIIvE
IEAMW0ßk
8ecause customers come first at Shoppers Stop, every emp|oyee is a Customer Care Associate, right from the
Vice Chairmau to the f|oor staff. Associates start each day with the authem 'had Se Aage' writteu by 6u|/aar
Sahab, suug by Souu ligam aud composed by Ram Sampat.
Ic |eep suc| ||ç||]-|rvc|vec wc||lc|ce
erçaçec arc ¤ct|vatec, S|cppe|s Stcp |as
|rt|ccucec ¤ar] pecp|e |r|t|at|ves.
Parichay ÷ I|e |rcuct|cr. I||s |s ar |rcuct|cr
p|cç|a¤¤e t|at cc¤p||ses cl c|ass|cc¤
t|a|r|rç, jcu t|a|r|rç arc a|sc |rt|ccuces t|e
la¤||] cl t|e asscc|ates tc t|e c|çar|sat|cr.
Learuiug aud 0eve|opmeut Ceutre ÷ I|e
lea|r|rç arc Deve|cp¤ert Cert|e |s
|espcrs|u|e lc| suppc|t|rç asscc|ates |r t|e||
ceve|cp¤ert reecs as we|| as p|cv|c|rç t|e
c|çar|sat|cr w|t| pecp|e ta|ert lc| va||cus
|r|t|at|ves.
Jo Jeeta Wohi Silaudar ÷ Reccçr|ses arc
|aucs pe|lc|¤arces cl asscc|ates w|c |ave
çcre ue]crc t|e ca|| cl t|e|| cut].
The 8aby Kaugaroo Programme ÷
Reccçr|s|rç ||ç| |ctert|a|, t||s |s t|e l||st
p|cç|a¤ |r t|e |eta|| sectc| w||c| clle|s
a st|uctu|ec ç|cwt| pat| tc asscc|ates.
I|e p|cç|a¤¤e |as wcr ¤ar] accc|aces
|r t|e |rcust|] arc cre cl t|e¤ |s t|e
p|est|ç|cus 'DV/ ÷ E|e|wcr /wa|c lc|
|rrcvat|ve |R |r|t|at|ves'.
Measuremeut of Associate Satisfactiou ÷
We act|ve|] ¤easu|e asscc|ates' sat|slact|cr
u] ccrcuct|rç ar arrua| cr||re su|ve] tc
cete|¤|re t|e /sscc|ate Sat|slact|cr |rce·
(/S|}. /|| asscc|ates pa|t|c|pate, ac|css |eve|s,
¤a||rç t||s ar |¤pc|tart tcc| lc| ccrt|rucus
|¤p|cve¤ert.
REACh 8 CuST0MER
EXPERlElCE
Auuua| Report 2O1O-11 14
Auuua| Report 2O1O-11 15
ßEA6hINß NEW
ß0üNßAßIE8
Shoppers Stop has beeu de|ightiug customers by offeriug a comp|ete shoppiug experieuce iu mauy cities
arouud the couutry. lt is this much-appreciated aud ta|led-about experieuce that is uow beiug iutroduced to
other, uewer cities iu ludia.
Custc¤e|s a|e t|eatec w|t| a cc¤p|ete
sersc||a| e·pe||erce w|||e s|cpp|rç at
S|cppe|s Stcp stc|es. I|e scct||rç l|aç|arce
cl t|e Beaut] |a|| at t|e ert|arce ¤es¤e||ses
t|e custc¤e|s as sccr as t|e] step |r. I|e
|u·u||cus arc urc|utte|ec |a]cut cl t|e stc|es
|e|ps custc¤e| s|cp at ease w|||e t|e pepp]
S|cppe|s Stcp Rac|c u||ç|ters up t|e|| ¤ccc.
I|e ||ue|t] tc t|] cut p|ccucts w|t|cut t|e
cu||çat|cr cl pu|c|ase ÷ |||e ¤a|e-up ÷ accs
tc t|e cve|a|| s|cpp|rç e·pe||erce arc t|e
Cale |r eac| stc|e ersu|es a |el|es||rç u|ea|
|r-uetweer s|cpp|rç. Vc|ecve|, |as||cr
/ss|starts at eac| stc|e |e|p custc¤e|s |a|se
t|e|| las||cr cuct|ert u] ass|st|rç t|e¤ w|||e
¤a||rç a pu|c|ase cec|s|cr.
Du||rç t|e ]ea|, t|e Cc¤par] e·tercec t||s
urpa|a||e|ec s|cpp|rç e·pe||erce tc rewe|
c|t|es arc catc|¤ert u] |aurc||rç c S|cppe|s
Stcp stc|es.
S|cppe|s Stcp |as |eac|ec cut tc
custc¤e|s ac|css |rc|a, arc a|sc tc
|R|s, t||cuç| |ts e-cc¤¤e|ce weus|te,
www.s|cppe|sstcp.cc¤, w||c| ce||ve|s tc
¤c|e t|ar 500 c|t|es arc tcwrs ac|css t|e
ccurt|]. I|e cr||re s|cpp|rç weus|te clle|s
t|e ease arc ccrver|erce tc s|cp lc| |eac|rç
||lest]|e u|arcs, l|c¤ ar]w|e|e w|t| secu|e
pa]¤ert cpt|crs arc a|sc a||cws |||st C|t|ter
¤e¤ue|s tc ea|r arc |ecee¤ pc|rts cr||re.
(|rc|uces C|csswc|c, Vct|e|ca|e, |c¤eStcp
V./.C., C||r|cue arc Estee lauce| cut|ets}
luc||ara
/¤||tsa|
|rcc|e
/u|arçauac
S|||çu||
Du|çapu|
B|cpa|
|açpu|
|as|||
F0RMATS
Auuua| Report 2O1O-11 16
Shoppers Stop provides for the customers' every ueed, be it fashiou aud home ueeds or specia|ty
retai|iug such as bools, materuity aud iufaut care aud cosmetics. Products iuc|ude both uatioua|
aud iuteruatioua| brauds that have oue thiug iu commou ÷ their uuquestiouab|e qua|ity.
Shoppers Stop
I|e Cc¤par] s l| açs|| p uus| ress cl
cepa| t ¤ert st c| es | s ¤ar| l est | r
S|cppe|s Stcp. |t clle|s custc¤e|s ar
|rte|rat|cra| s|cpp|rç erv||cr¤ert arc a
wc||c c|ass s|cpp|rç e·pe||erce t||cuç| |ts
38 stc|es |r 17 c|t|es.
|t |cuses a |cst cl |rte|rat|cra| arc cc¤est|c
u|arcs ac|css cateçc||es suc| as appa|e|,
accessc||es, ccs¤et|cs, |c¤e c ||tc|erwa|e
arc a|sc |ts cwr e·c|us|ve u|arcs. Sc¤e
|rte|rat|cra| p|e¤|u¤ u|arcs |eta||ec at
S|cppe|s Stcp a|e /ust|r Reec, VuSI/|C,
CK Jears, ||erc| Ccrrect|cr, Ic¤¤] |||l|çe|,
Esp||t, uCB, C|are|, larcc¤e, Cuess, Varçc,
Jac| c Jcres arc uS |c|c, tc ra¤e a lew.
homeStop
|c¤eStcp |s t|e l||st-cl-|ts-||rc p|e¤|u¤
|c¤e ccrcept stc|e p|esert |r 3 c|t|es at 1
|ccat|crs. |t clle|s a w|ce |arçe cl |c¤e
p|ccucts ac|css cateçc||es a|crç w|t| sc¤e
cl t|e ¤cst |eputec rat|cra| arc |rte|rat|cra|
u|arcs.
|t |s a cre-stcp s|cp lc| a|| |c¤e reecs
|arç|rç l|c¤ |c¤e cecc| tc lu|r|tu|e, uat|
accessc|| es tc uec|cc¤ lu|r| s|| rçs,
¤att|esses tc c|ape||es, arc ca|pets tc |ea|t|
ecu|p¤ert, a|| urce| cre |ccl.
Crossword
C|csswc|c |s t|e |eace| |r t|e ||lest]|e
ucc|stc|e cateçc|] w|t| a ur|cue p|ccuct ¤|·
cl ucc|s, ¤açat|res, CD-R0Vs, ¤us|c,
stat|cre|] arc tc]s. I||s |s lu|t|e| er|arcec
w|t| se|v|ces |||e D|a|-a-Bcc|, arc lac|||t|es
|||e C|lt Vcuc|e|s arc Retu|r, E·c|arçe,
c Relurcs pc||c]. Cu||ert|], t|e|e a|e
c9 C|csswc|c stc|es/ccc|s |r cpe|at|cr.
ßIvEß8IF¥INß
0üß kN0WIEßßE
Auuua| Report 2O1O-11 11
hyperClTY
|]pe|C|IY |as |ecel|rec t|e e·pe||erce cl t|e
|rc|ar ccrsu¤e| |r t|e u|ç uc· ¤|·ec |eta||
lc|¤at. |ts clle||rçs |rc|uce lccc arc ç|cce|],
çere|a| ¤e|c|arc|se arc appa|e|. I|e
uus|ress cpe|ates a Vc|e tc D|sccve| u]||re
arc ce||ve|s cua||t] p|ccucts at a ç|eat va|ue.
|]pe|C|IY cpe|ates 9 stc|es, cre eac| |r
/¤||tsa|, B|cpa|, Ja|pu|, luc||ara, |av|
Vu¤ua|, |]ce|auac, arc Berça|u|u arc 2 |r
Vu¤ua|.
Mothercare 8 Ear|y Learuiug Ceutre (ELC)
S|cppe|s Stcp ltc (SSl} |as e·c|us|ve
a||arçe¤erts tc cper Vct|e|ca|e arc ElC
s|cp-|r-s|cps |r |rc|a. Vct|e|ca|e, uKs
p|e¤|u¤ |rte|rat|cra| u|arc lc| ¤ate|r|t],
|rlart arc c|||cca|e p|ccucts, cu||ert|] |as 29
stc|es cpe|atec u] SSl, |rc|uc|rç 7 starc-
a|cre stc|es w|t| a p|eserce |r 11 c|t|es.
Ea||] lea|r|rç Cert|e (ElC}, uKs ru¤ue| cre
ecucat|cra| tc] u|arc lc| c|||c|er açec 0-c
]ea|s |s a|sc ava||au|e |r se|ect S|cppe|s Stcp
stc|es.
Estee Lauder 6roup of Compauies
S|cppe|s Stcp |as erte|ec |rtc a rcr-
e·c|us|ve |eta|| aç|ee¤ert w|t| wc||c
|ercwrec ccs¤et|cs ¤ajc| Estee lauce| tc
cper stc|es lc| |rte|rat|cra| u|arcs |||e
V./.C, Estee lauce| arc C||r|cue |r |rc|a.
/s cr Va|c| 31, 2011, S|cppe|s Stcp |as 17
V./.C stc|es w|t| a p|eserce |r Vu¤ua|,
|ure, Berça|u|u, /¤||tsa|, |]ce|auac,
C|erra|, arc De|||. Estee lauce| |as 1 stc|es,
|rc|uc|rç 3 starca|cre stc|es, cre eac| |r
De|||, Berça|u|u arc Vu¤ua|. C||r|cue |as 10
stc|es, |rc|uc|rç twc starca|cre stc|es.
Auuua| Report 2O1O-11 18
Airport Retai|iug
I|e Cc¤par] cu||ert|] |as 1 stc|e eac| |r
Berça|u|u arc |]ce|auac cut] pa|c arc 1 cut] l|ee
at Berça|u|u.
Time/oue
S|cppe|s Stcp ue||eves t|at |rc|ar ccrsu¤e|s
a|e |cc||rç lc| ¤u|t|p|e cpt|crs tc erte|ta|r
t|e¤se|ves arc t|e|| la¤|||es. |t |as lc|a]ec
|rtc t|e erte|ta|r¤ert sectc| w|t| a sta|e cl
1c.89º |r I|¤etcre Erte|ta|r¤ert |||vate
l|¤|tec, w||c| |s t|e uus|ress cl cpe|at|rç
|a¤||] Erte|ta|r¤ert Cert|es (|ECs}. |t
cu||ert|] |as 12 ccc|s |r |eac|rç ¤et|cs.
Auuua| Report 2O1O-11 19
L0YALTY PR06RAM
8 FlRST llSl6hT
Auuua| Report 2O1O-11 2O
Shoppers Stop's streugth is its customer |oya|ty. lt strives to male the shoppiug experieuce as va|uab|e as
possib|e, so that customers leep returuiug for more. Shoppers Stop tales the shoppiug experieuce
to the uext |eve|, by maliug it persoua|ised for its |oya| customers.
ßEWAßßINß
0üß 6ü8I0MEß8
Auuua| Report 2O1O-11 21
First Citi/eu coutributiou to Sa|es
1Oº
2Oº
3Oº
4Oº
5Oº
6Oº
1Oº
8Oº
O.Oº
2OO1
61º
2OO8
65º
2OO9
12º
2O1O
15º
2O11
13º
First Citi/eu Programme
S|cppe|s Stcp ue||eves t|at t|e custc¤e|
ta|es p||c||t] cve| a|| e|se, w||c| |s w|] t||s
p|cç|a¤¤e |as ¤c|e t|ar 2 ¤||||cr sat|sl|ec
¤e¤ue|s w|c ccrt||uute up tc 73º tc cu|
sa|es.
I|e |||st C|t|ter |c]a|t] p|cç|a¤¤e |s t|e ¤cst
successlu| |e|at|crs||p arc |c]a|t] p|cç|a¤¤e
|r t|e |eta|| |rcust|] |r |rc|a arc tcca]. I|e
uase cl t|e |||st C|t|ter Ve¤ue|s ccrt|rues tc
ç|cw. I|e|| t|ust |r t|e u|arc |as |rsp||ec |t tc
ccrt|rue tc e·ce| |r se|v|ce, cua||t] arc
clle||rçs.
I|e cuject|ve cl t|e |||st C|t|ter ||cç|a¤¤e |s
tc ersu|e custc¤e| ce||ç|t arc er|arce
custc¤e| sat|slact|cr. S|cppe|s Stcp t|u|]
va|ues t|e leecuac| |t |ece|ves l|c¤ |ts
custc¤e|s. Ic t|u|] |rcw custc¤e|s,
S|cppe|s Stcp ara|]ses t|e p|cp||eta|] |||st
C|t|ter cata cr a ccrt|rucus uas|s us|rç
D||s|t|, a cata wa|e|cus|rç arc cata ¤|r|rç
|I uac|ucre.
Custc¤e| ç|cups a|e ara|]sec us|rç t|e
p|cp||eta|] |||st |rs|ç|t. I||s |e|ps tc p|ar
ta|çetec clle|s, u|arcs arc cc¤¤ur|cat|crs.
Auuua| Report 2O1O-11 22
Crossword 8ool Rewards Programme
lc]a| C|csswc|c Bcc|stc|e custc¤e|s a|e
|ewa|cec t||cuç| t|e C|csswc|c Bcc|
Rewa|cs p|cç|a¤¤e w|t| pc|rts, c|sccurts,
p|c¤ct|cra| clle|s arc ¤c|e. eWc|cs, a
¤crt||] e-rews|ette| w|t| |ev|ews cl rew
ucc|s, rews aucut |r-stc|e everts arc uest
se||e| ||sts, |s ¤a||ec tc t|ese ¤e¤ue|s. I|e
C|csswc|c Bcc| Rewa|cs |c]a|t] p|cç|a¤¤e
|as ¤c|e t|ar 2.77 |ac ¤e¤ue|s arc |as
ccrt||uutec tc 10º cl sa|es cl C|csswc|c
Bcc|stc|es ltc.
0iscovery C|ub Programme
I|e |]pe|C|t] D|sccve|] C|uu u||rçs eve|]
cust c¤e| ç| eat sav| rçs, e·c| us| ve
p|c¤ct|crs, spec|a| p|ev|ews arc a w|c|e |ct
¤c|e. 0re car ea|r c|sccve|] |ewa|c pc|rts
arc |ecee¤ t|e¤ aça|rst pu|c|ases. I||s
|c]a|t] p|cç|a¤¤e |el|ects |]pe|C|t]s
cc¤¤|t¤ert tc clle| |ts custc¤e|s t|e
u|t|¤ate s|cpp|rç e·pe||erce. |]pe|C|t]s
|c]a|t] p|cç|a¤¤e D|sccve|] C|uu, |aurc|ec
|r 2009, ccrt|rues tc ç|cw arc |ep|esert 11º
cl sa|es |r 01|Y11. I|e|e a|e a tcta| cl 1.c3
|acs ¤e¤ue|s.
Auuua| Report 2O1O-11 23
Customer Satisfactiou ludex Scores
JAl O6
6Oº
Au6 O6
63º
l0V O1
63º
FE8 O9
81º
O.Oº
1Oº
2Oº
3Oº
4Oº
5Oº
6Oº
1Oº
8Oº
9Oº
APRlL 1O
8Oº
8RAl0S
Auuua| Report 2O1O-11 24
S|rce |ts |rcept|cr, S|cppe|s Stcp |as
ccrt|ruec tc |rt|ccuce rew u|arcs arc |as
sta]ec a|eac t||cuç| e·c|us|ve arc rcr-
e·c|us|ve t|e-ups w|t| va||cus u|arcs. I|e
|arçe cl |rc|ar arc |rte|rat|cra| u|arcs |ave
ueer ca|elu||] c|cser tc ¤eet t|e reecs cl
t|e ¤cce|r s|cppe|.
E·ters|ve e·pe||erce |r t|e |eta|| space |as
|e|pec |t art|c|pate t|e custc¤e|s' s|cpp|rç
reecs arc |rt|ccuce seve|a| cua||t]
|rte|rat|cra| u|arcs |r |rc|a ¤uc| uelc|e
ct|e|s. S|cppe|s Stcp |as set t|e uerc|¤a||
lc| w|at ¤cce|r |eta|| car clle| arc asp||es tc
ta|e |t tc t|e re·t |eve|.
S¤a|t, cc¤lc|tau|e c|ct|es t|at a|e a pe|lect
¤|· cl c|ass|c arc ccrte¤pc|a|] st]||rç.
I|erc] casua| c|ct|es arc accessc||es uasec
cr ç|cua| las||cr t|ercs.
E|eçart arc e·cu|s|te t|ac|t|cra| cccas|cr
wea| lc| et|r|c c||c.
0ßIßINAI
6ßEAII0N8
Auuua| Report 2O1O-11 25
Attuued to the braud phi|osophy of 'Start Somethiug lew', Shoppers Stop observes fashiou treuds,
aud tales de|ight iu offeriug uuique qua|ity merchaudise that is treudy aud aspiratioua|. lt tales pride iu
the fact that its customers fiud exact|y what they ueed aud are eucouraged to exp|ore more optious.
Scp||st|catec lc|¤a| arc casua| c|ct|es lc|
t|e pcwe| c|esse|.
|aute cu||] |s a ]curç arc lur|] et|rc-
lus|cr u|arc lc| tcca]'s ]curç las||cr
c|vas. V|v|c |rc|ar cc|cu|s arc ¤ct|ls a|e
las||crau|] captu|ec |r ¤cce|r s|||cuettes
arc ces|çrs. I|e ||re cc¤p||ses cl st]||s|
|u|t|s arc t|erc] sa|waa| |a¤eet arc
cupatta sets.
S|cppe|s Stcp |as ra¤ec wc||c la¤cus s|ta|
¤aest|c arc ¤us|c cc¤pcse| /rcus||a
S|ar|a| as t|e u|arc a¤uassacc| lc| |aute
cu||]. S|e |s rct cr|] a ]cut| |ccr uut |s a|sc ar
apt e·a¤p|e cl et|r|c c|ve|s|t], ue |t t||cuç|
|e| ¤us|c c| pe|scra| st]|e. S|e pe|lect|]
¤atc|es t|e u|arc va|ues arc pcs|t|cr|rç cl
|aute cu||] arc |e| pe|scra| st]|e state¤ert
¤|||c|s t|e ¤cce|r|sec et|r|c|t] cl |aute
cu||]'s ces|çrs arc st]|es.
|as||cr cer|¤ wea| lc| t|e u|uar ]cut| t|at
ep|tc¤|ses |rc|v|cua||t].
E|eçart|] st]||s| ]et p|act|ca| arc cc¤lc|tau|e
wc¤er's wea| lc| spec|a| cccas|crs.
|as||crau|e lc|¤a|s arc s¤a|t casua|s lc|
st]||s| arc l|a¤uc]art ¤er.
|as||crau|e ccpc|ate wea| arc accessc||es
lc| wc¤er.
Auuua| Report 2O1O-11 26
llTERlATl0lAL 8RAl0S
S|cppe|s Stcp erjc]s ar e·c|us|ve |eta||
a||arçe¤ert w|t| t|e B||t|s| las||cr arc
||lest]|e u|arc /ust|r Reec. urce| t||s, t|e
/ust|r Reec |arçe cl lc|¤a| uus|ress wea|
arc s¤a|t casua| wea| lc| ¤er arc wc¤er |s
e·c|us|ve|] ava||au|e at S|cppe|s Stcp stc|es.
I||s Ce|¤ar u|arc |as ueer u|cuç|t tc t|e
|rc|ar ¤a||et t||cuç| ar e·c|us|ve |eta||
a||arçe¤ert, |r t|e cepa|t¤ert stc|e
seç¤ert, w|t| S|cppe|s Stcp ltc. I|e
appa|e| e·||u|ts s|çr|l|cart |rte|rat|cra|
|rl|uerce |r st]|e arc l|resse arc |t e·uces
u|uar c||c w|t| |ts aut|ert|c st]|e arc
ur¤atc|ec cc¤lc|t.
/s t|e l||st cer|¤ u|arc cl Eu|cpe, VuSI/|C
|s wc||c |ercwrec lc| |ts p|ec|se l|ts arc
was|es.
I|e ç|cua| appea| cl t|e cc||ect|cr |s
urce|scc|ec u] |ts |rte|rat|cra| s|||cuettes
t|at pe|lect|] ta||] w|t| t|¤e|ess ]et t|erc-
|rsp||ec cc|cu|s arc ceta||s. |t a||cws t|e
c|sce|r|rç las||cr cevctee t|e cpt|cr cl
uu]|rç cc¤p|ete erse¤u|es, cve| arc aucve
|rc|v|cua| ça|¤erts.
Auuua| Report 2O1O-11 21
MARKETll6
lllTlATlVES
Auuua| Report 2O1O-11 28
8raud Campaigu
I||s ]ea|s ca¤pa|çr ccrt|rues w|t| t|e
t|cuç|t cl 'SI/RI S0VEI|||C |EW'.
I|e u|arc S|cppe|s Stcp |s a||çrec w|t| scc|a|
|ssues |r t|e upcc¤|rç ca¤pa|çr ÷ t|e cc|e
¤essaçe |s tc s|cwcase ||C| |/S||0|.
I|e ¤e|c|arc|se ccrrect |s e·t|e¤e|]
st|crç arc c|eates ar |rterse ces||e tc
uu] ¤e|c|arc|se |r custc¤e|s ¤|rcs. I|e
ca¤pa|çr w||| leatu|e st]||s| pecp|e |r s|¤p|e
ca]-tc- ca] s| tuat| crs actua| | ] cc| rç
sc¤et||rç rew ÷ sc t|e 'Sta|t Sc¤et||rç
|ew' car actua||] t|ars|ate |rtc act|cr.
Socia| Media Marletiug
|rrcvat|ve |r|t|at|ves |r t|e Scc|a| Vec|a
Va||et|rç space |ave |ept t|e u|arc
ccrrectec w|t| cu| custc¤e|s l|c¤ ac|css t|e
ccurt|]. Va||cus ccrtests cr t||s space |ave
ersu|ec t|at S|cppe|s Stcp erjc]s a |a|çe
ru¤ue| cl l|KES, ¤c|e t|ar 7 |acs cr
|aceucc|. S|cppe|s Stcp |s a|sc act|ve cr
ct|e| p|atlc|¤s suc| as Iw|tte|, |cu|scua|e
arc Ycu Iuue.
Auuua| Report 2O1O-11 29
ßß0üNß-ßßEAkINß
INN0vAII0N
Fi|m Merchaudisiug: 8real Ke 8aad
|as||cr |r |rc|a |s p|ececec arc |a|çe|]
çcve|rec u] Bc||]wcccs st]|e state¤ert. |r
t|e past, S|cppe|s Stcp ¤et w|t| ¤uc|
success lc| |ts e·c|us|ve appa|e| ||res |rsp||ec
u] ç|eat l||¤s suc| as 0¤ S|art| 0¤, lcve /aj
Ka|, arc Ka|t||| Ca|||rç Ka|t||| etc. I||s ]ea|
S|cppe|s Stcp t|ec up w|t| ¤eça sta||e| l||¤
B|ea| Ke Baac arc |aurc|ec ar e·c|us|ve
appa|e| ||re urce| |ts pcpu|a| ]cut| u|arc l|le.
Deep||a |acu|cres le¤|r|re arc c||c st]|e
arc |¤|ar K|ars c|ccc|ate-uc] c|a|¤ was
¤|||c|ec pe|lect|] |r t|e casua| appea| cl
t|e cc||ect|cr.
Eud-of-Seasou Sa|e
S|cppe|s Stcp |aurc|ec |ts De||ç|tlu||] lcw
|||ces uptc 51º 0ll Sa|e ca¤pa|çr w|t| rew
e]e-catc||rç arc c|utte| u|ea||rç |¤açe|].
I|e e·ters|ve cutccc| ca¤pa|çr c|eatec t|e
||ç|t v|s|u|||t] t||cuç| a pe|lect se|ect|cr
cl u|||uca|cs. I||s was suppc|tec u]
acve|t|s|rç |r |eac|rç puu||cat|crs ac|css
c|t|es w|t| S|cppe|s Stcp stc|es.
Choose Your 0wu 6ift
S|cppe|s Stcp p|esertec t|e ert||e stc|e tc
t|e|| |||st C|t|ter Ve¤ue|s arc e¤pcwe|ec
t|e¤ tc c|ccse t|e|| cwr ç|lt cu||rç t|e||
arrua| |c]a|t] p|cç|a¤¤e p|c¤ct|cr. |rsteac
cl clle||rç a p|e-se|ectec ç|lt, S|cppe|s Stcp
clle|ec |ts |c]a|t] p|cç|a¤¤e ¤e¤ue|s w|t|
Bcrus Rewa|c |c|rts cr t|e|| pu|c|ases,
w||c| ccu|c ue |ecee¤ec cr ar] p|ccuct cl
t|e|| c|c|ce.
Start Somethiug lew Today
I|e Sta|t Sc¤et||rç |ew Icca] ca¤pa|çr |s
a se||es cl s¤a|| acs |r |eac|rç puu||cat|crs
t|at appea| eve|] I|u|sca] cr pç. 3. I|ese
acs uas|ca||] p|cv|ce |rte|est|rç las||cr arc
s|cpp|rç t|ps tc t|e custc¤e|s. /t t|e sa¤e
t|¤e, t|e sa¤e t|p |s ||ç|||ç|tec at t|e
p|]s|ca| stc|es t||cuç| V|sua| Ve|c|arc|s|rç.
luuovatiou is the ley to everythiug at Shoppers Stop. Carryiug forward the braud phi|osophy of
'Start Somethiug lew', the past year saw c|utter-brealiug iuuovative campaigus that |eut
uewuess aud topica|ity to pu|| customers aud he|ped iucrease footfa||s.
FllAlClAL
hl6hLl6hTS
Auuua| Report 2O1O-11 3O
ßEINvENIINß
Fß0FII8
Shoppers Stop has a|ways strived to leep its sa|es growth at a coustaut |eve|. lt is assured that the
high staudards of the products comp|emeut the high output |eve| of profits.
Auuua| Report 2O1O-11 31
S|cppe|s Stcp |as ta|er ç|art steps tcwa|cs
ac||ev|rç st|ateç|c ç|cwt|. I|e lccus cr ccst
|at|cra||sat|cr, st|ea¤||r|rç p|ccesses arc
ersu||rç custc¤e| sat|slact|cr |as ç|ver |t ar
ecçe |r t|e ¤a||et. W|t| ecua| e¤p|as|s cr
caut|cus p|arr|rç, S|cppe|s Stcp |as
ccrsc||catec |ts pcs|t|cr as a |eac|rç |eta||
|rrcvatc| |r |rc|a.
I|e Cc¤par] |as wc||ec tcwa|cs ceve|cp|rç
|tse|l as ar e·e¤p|a|] |eta|| ¤cce| w|t| t|e
cc¤u|rat|cr cl ||ç|t pcs|t|cr|rç |r t|e ¤|rcs
cl |ts custc¤e|s, ccst |at|cra||sat|cr
¤easu|es arc e·| t| rç rcr-p|cl| tau| e
uus|resses. |r |Y 2011, S|cppe|s Stcp ltc.
ac||evec a C|css Reta|| Iu|rcve| cl 1929
c|c|es, up u] 23º, w|||e t|e ç|css ¤a|ç|r
stccc at 599 c|c|es s|cw|rç a ç|cwt|
cl 21º.
I|e Cc¤par] |as w|tressec a st|crç arc
stau|e erv||cr¤ert cve| t|e ]ea| w|t| st|crç
ç|cwt| |r |||e-tc-|||e sa|es cl 17º lc| t|e ]ea|.
|t |s a|sc e·parc|rç steac||] |r ¤et|cs as we||
as t|e| || c|t|es, w||c| |s w|tress|rç t|e
ccrsu¤pt|cr ucc¤ arc |as ç|ver t|e
Cc¤par] access tc a ç|cw|rç ru¤ue| cl
custc¤e|s.
6ross Retai| Turuover
3,OOO
6,OOO
9,OOO
12,OOO
15,OOO
18,OOO
C
A
6
R
~
2
3
º
21,OOO
8,996
2OO1
12,O69.1
2OO8
14,OO1
2OO9
15,684
2O1O
O
19,29O
2O11
AWAR0S
Auuua| Report 2O1O-11 32
Du||rç t|e ]ea| 2010-11, S|cppe|s Stcp was
t|e p|cuc |ec|p|ert cl ¤ar] |rcust|]
accc|aces.
|t |as ueer |eccçr|sec as t|e 'Most
Respected Compauy iu the Retai| Sector'
u] Bus|ress Wc||c.
S|cppe|s Stcp wcr t|e p|est|ç|cus |c]a|t]
award for 'Customer 8 8raud Loya|ty' iu the
'Retai| Sector' ccrsecut|ve|] lc| twc ]ea|s
(2010 c 2011} at t|e lc]a|t] Su¤¤|t.
I|e Cc¤par] a|sc |ece|vec t|e "Most
Admired lou-Store Fashiou aud Lifesty|e
Retai|er of the Year" awa|c at t|e |¤açes
|as||cr /wa|cs 2011 lc| |ts ecc¤¤e|ce
weus|te. www.s|cppe|sstcp.cc¤
EI Reta|| /wa|cs, uac|ec u] t|e Eccrc¤|c
I|¤es arc Reta||e|s /sscc|at|cr cl |rc|a (R/|},
|ave awa|cec S|cppe|s Stcp w| t|
t|e 'Marletiug ldea of The Year' awa|c lc|
t|e Zcctcc ¤e|c|arc|se t|e-up w|t|
Vccalcre-Essa|.
S|cppe|s Stcp |as ueer ccrle||ec w|t| t|e
°8est Retai| Marletiug Campaigu of the
Year° awa|c arc ' Customer Loya|ty
programme' awa|c at t|e 7t| Re|c c Ia]|c|
Auuua| Report 2O1O-11 33
0ver the years the Compauy's success iu the retai| fie|d was mouitored aud awarded by the
busiuess wor|d. lt wasu't Lady Lucl who smi|ed ou the orgauisatiou aud he|ped it achieve
what it has, but the dedicated devotiou of a|| the Associates, Customers aud Staleho|ders.
/wa|cs lc| Reta|| E·ce||erce at /s|a Reta||
|c|u¤ (/s|a Reta|| Ccrç|ess}.
S|cppe|s Stcp a|sc |ece|vec a Merit
Certificate iu the category '0epartmeut
Store more thau 2O,OOO sq.ft.' at t|e VVRD
Reta|| Des|çr /wa|cs 2011.
|0WERBR/|DS, a |esea|c| c||ver ucc| cl
|rc|a's ¤cst pcwe|lu| u|arcs |eccçr|sec
Shoppers Stop as oue of the most
aspiratioua| brauds, w||c| |as lc|t|l|ec |ts
p|eserce |r t|e |ea|ts arc ¤|rcs cl t|e |rc|ar
ccrsu¤e|s.
S0ClAL
RESP0lSl8lLlTY
Auuua| Report 2O1O-11 34
FI0NEEßINß 806IAI
ßE8F0N8IßIIII¥
At Shoppers Stop, it is a mora| duty to give bacl to society. Severa| socia| coucerus are supported at a|| |eve|s of the
orgauisatiou. Associates are eucouraged to leep iu miud their Socia| Respousibi|ity, aud the Compauy uses measures
aud techuo|ogy that positive|y effect the we|fare of society. Customers are a|so motivated to |ool at the big picture
aud he|p out the |ess fortuuate.
/s a Respcrs|u|e Cc|pc|ate C|t|ter, S|cppe|s
Stcp |as suppc|tec ¤ar] scc|a| ccrce|rs.
0ve| t|e ]ea|s, S|cppe|s Stcp |as ta|er ¤ar]
Cc|pc|ate Scc|a| Respcrs|u|||t] |r|t|at|ves tc
vc|ce va||cus causes. Sc¤e |r|t|at|ves cl t|e
Cc¤par]s p|||art||cp] |rc|uce ç|v|rç awa]
ç|eer p|arts tc custc¤e|s at t|e |aurc| cl
Berça|u|u's l||st S|cppe|s Stcp stc|e. I|e l||st
S|cppe|s Stcp stc|e |r Kc||ata ue|rç
|rauçu|atec u] urce|-p||v||eçec c|||c|er, arc
t|e |a||||a¤a lest|va| p|c¤ct|rç |u|a| a|t|sars
sc t|at t|e] ccu|c sta|t tc ea|r susta|rau|e
|rcc¤es. Sc¤e cl t|e ct|e| |r|t|at|ves ta|er |r
t|e past ]ea| a|e.
Euergy Couservatiou
| r 2007 we l c|¤u| atec ar Ere|ç]
Varaçe¤ert |c||c]. Ia||rç |t a step lc|wa|c,
we tcc| up 'Erv||cr¤ert ||cject /' arc
cep|c]ec ere|ç] sav|rç arc ccrse|vat|cr
s]ste¤s |||e Cert|a| Ere|ç] Vcr|tc||rç
S]ste¤s (CEVS}, Va||au|e ||ecuerc] D||ve
(V|D}, lED, |esc|ecu||rç cl /|| |arc||rç ur|ts
(/|us}, |esu|t|rç |r a 1cº |ecuct|cr |r ere|ç]
ur|t ccrsu¤pt|cr |r lIl stc|es. |r t|e past ]ea|
we |ave ueer au|e tc save 11 |a||s ur|ts.
8acl to Earth by homeStop
|c¤eStcp ccrt|ruec tc clle| t|e ecc-l||erc|]
u|arc Bac| tc Ea|t|. I||s cc||ect|cr |as ueer
|rsp||ec u] ratu|e arc t|e p|ccucts a|e ¤ace
cl |uuue| wccc, ceac wccc, C||rese jujuue,
ua¤ucc, jute, ratu|a| l|u|e, |ec]c|ec wccc arc
||rer. 0re car c|ccse l|c¤ a w|ce |arçe cl
p|ccucts ac|css cateçc||es |||e lu|r|s||rç, uec
||rer, ||tc|er accessc||es arc |c¤e cecc|.
8raud Campaigu 'Start Somethiug lew'
Ca||]|rç lc|wa|c t|e u|arcs p|||cscp|] cl
Sta|t Sc¤et||rç |ew, t|e u|arc ca¤pa|çrs
cl S|cppe|s Stcp |ave vc|cec va||cus scc|a|
ccrce|rs arc causes | r | ts t]p| ca|
tcrçue-|r-c|ee| ¤arre|. I|e u|arc ca¤pa|çr
cl t|e ]ea| 2008 vc|cec t|e cause cl
erv||cr¤ert ccrse|vat|cr.
I|e cu||ert u|arc ca¤pa|çr vc|ces u|uar
scc|a| ccrce|rs.
Fouudatiou 0ay ce|ebratiou
I|e |curcat|cr Da] cl S|cppe|s Stcp |s
cec|catec tc up|c|c|rç scc|a| causes. Eac|
stc|e, |eç|cr arc Se|v|ces 0ll|ce |e|ps ar |C0
cl |ts c|c|ce. |r 2010 t|e Se|v|ces 0ll|ce |ac
c|çar|sec a B|ccc Dcrat|cr c||ve tc suppc|t
t|e cause cl I|a|asse¤|a |r asscc|at|cr w|t|
t|e State B|ccc I|arslus|cr Ccurc||.
Sa|war Kamee/ 0upatta (SK0)
Exchauge offer
I||s |s ar arrua| e·c|arçe clle| t|at S|cppe|s
Stcp |as ccrcuctec lc| ¤ar] ]ea|s |r
asscc|at|cr w|t| |C0s |||e Ccrce|r |rc|a arc
Cccrj. |c| t||s clle| we |rv|te custc¤e|s tc
ccrate t|e|| c|c uut wea|au|e SKDs tcwa|cs
t|e cause arc |r |etu|r erjc] c|sccurts cr
t|e|| rew pu|c|ases cl SKDs.
Auuua| Report 2O1O-11 35
80AR0 0F 0lRECT0RS
C0V||D S|R|K|/|DE B. S. |/CES| ||RV|K S||C|
DEE|/K C|/|S/S
||I|| S/|C|/V| S|/|Z//D D/l/l
Culu V|RC|/|D/||
|EEl C. R/|EJ/ R/V| C. R/|EJ/
C|/|DRu l. R/|EJ/
Auuua| Report 2O1O-11 36
C|a||¤ars State¤ert 039
Bca|c cl D||ectc|s 010
||rarc|a| ||ç|||ç|ts arc Ke] Rat|cs 011
D||ectc|s Repc|t 012
Varaçe¤ert D|scuss|cr c /ra|]s|s Repc|t 050
Cc|pc|ate Ccve|rarce Repc|t 0c1
/uc|tc|s Repc|t 079
Ba|arce S|eet 082
||cl|t c lcss /cccurt 083
Cas| ||cw State¤ert 081
|ctes tc t|e ||rarc|a| State¤erts 089
Ba|arce S|eet /ust|act arc Cc¤par]s
Cere|a| Bus|ress ||cl||e 10c
||rarc|a| |rlc|¤at|cr cl Suus|c|a|] Cc¤par|es 107
Ccrsc||catec ||rarc|a| State¤erts 109
C0lTElT
Auuua| Report 2O1O-11 31
Auuua| Report 2O1O-11 38
ChAlRMAl'S STATEMElT
I|e ¤cce|r |eta|| |rcust|] |r |rc|a |as ccre we|| |r
|Y 2010-11 cr t|e uac| cl eccrc¤|c arc pc||t|ca|
stau|||t], |crç te|¤ pc||c] ccrt|ru|t], st|crç
urce||]|rç eccrc¤|c ç|cwt|, |¤p|cvec custc¤e|
sert|¤ert, ç|cw|rç u|uar|tat|cr c all|uerce arc
erc|¤cus|] ç|cw|rç pctert|a| ce¤arc |r t|e |rc|ar
Va||et.
|c| t|e ]ea| 2010-11, ]cu| Cc¤par] |as ac||evec
|everues cl 1929 c|c|es, up u] 23º, EB|DI/ cl
152 c|c|es , up u] 31º arc ||cl|t alte| Ia· cl 75
c|c|es, up u] 50º, cve| t|e p|ev|cus ]ea|.
0pe|at|rç p|cl|t (EB|DI/} |as |rc|easec l|c¤ 7.30º
|r t|e p|ev|cus l|rarc|a| ]ea| tc 8º cl sa|es |r t|e
cu||ert l|rarc|a| ]ea|.
|r t|e ]ea| çcre u], ]cu| Cc¤par] saw a l||e-tc-
l||e sa|es ç|cwt| cl 17º, w|||st c|a|r |eve| ç|cwt|
|r sa|es was 23º. I|e /ve|açe Se|||rç |||ce c
I|arsact|cr S|te |ave seer ç|cwt|s cl 7º arc 9º
|espect|ve|] cve| t|e |ast ]ea|. I|e 0|| arc
||c¤cte|s Wa||arts |ssue tcta||rç tc 253 c|c|es
was successlu||] cc¤p|etec u] ]cu| Cc¤par]. |r
v|ew cl t||s |cuust pe|lc|¤arce a 15º c|v|cerc
|as ueer |ecc¤¤ercec u] t|e Bca|c, suuject tc
app|cva| cl ¤e¤ue|s.
/s pa|t cl cu| ccrt|rucus erceavcu| tc ç|cw arc
peret|ate t|e ¤a||et, ]cu| Cc¤par] cperec c rew
S|cppe|s Stcp stc|es cu||rç t|e ]ea| ÷ cre eac| at
Berça|u|u, B|cpa|, De|||, /u|arçauac, S|||çu|| arc
Du|çapu| ta||rç t|e ru¤ue| cl c|a|r cl stc|es tc 38
as cl Va|c| 31, 2011. /t a c|a|r |eve| ]cu|
Cc¤par] |as accec ¤c|e t|ar 3,00,000 scua|e
leet |r t|e ]ea| 2010-11.
|r t|e ]ea|, ]cu| Cc¤par] |as accu||ec 32º sta|e
suus|c|a|] cl ]cu| Cc¤par]. I|e|elc|e, t|e
ccrsc||catec l|rarc|a|s cl t|e ]ea| |el|ect |]pe|C|t]
l|rarc|a| ru¤ue|s. Ycu| Cc¤par] arc |ts
¤araçe¤ert ue||eves t|at t|e|e |s |¤¤erse
pctert|a| |r t|e |]pe|¤a||et sectc| cl ¤cce|r
|eta|||rç, arc |]pe|C|t] w||| ue a s|çr|l|cart ç|cwt|
erç|re lc| ]cu| Cc¤par]'s cve|a|| p|cl|tau|||t] |r t|e
]ea|s tc cc¤e. |]pe|C|t]'s uus|ress |s cu||ert|] |r
t|e evc|ut|cr staçe ue|rç |r |ts l|lt| ]ea| cl
cpe|at|cr. |r te|¤s cl custc¤e|s l|arc||se |t |as
ueer au|e tc ea|r cc¤¤ercau|e |c]a|t] l|c¤ |ts
custc¤e|s. |ts stc|es a|e we|| app|ec|atec u]
custc¤e|s arc ever ac¤||ec |r t|e |rcust|].
/wa|cs ccrle||ec upcr |]pe|C|t] ac|css |ast ¤ar]
]ea|s suppc|t t||s lact.
Ycu| Cc¤par]'s |c]a|t] p|cç|a¤¤e, '|||st C|t|ter'
ac||evec a ¤ajc| ¤||estcre |r |Y 10-11. I|e tcta|
¤e¤ue|s||p cl t|e p|cç|a¤¤e c|cssec t|e
2 ¤||||cr ¤a|| arc tcca] |s cre cl t|e |a|çest |c]a|t]
p|cç|a¤¤es ac|css sectc|s. Ycu| Cc¤par]'s |||st
C|t|ters ccrt|rue tc ue a |uçe uast|cr cl suppc|t
arc |ave ccrt||uutec tc 73º cl ]cu| Cc¤par]'s
sa|es. /s cu| |c]a|t] p|cç|a¤¤e ç|cws, cu|
|aceucc| lar c|uu |s a|sc ç|cw|rç ve|] last. |t |as
rcw c|cssec 7 |a||s lars. |t |s ve|] |¤pc|tart lc| a
|eta|| cc¤par] |||e ]cu|s tc |e¤a|r |r tcuc| w|t|
custc¤e|s at a|| t|e t|¤es arc scc|a| ¤ec|a |s ar
|¤pc|tart averue tc |e¤a|r |r ccrstart tcuc| w|t|
custc¤e|s.
|r t|e ]ea| urce| |ev|ew, ]cu| Cc¤par] |ece|vec a
ru¤ue| cl ccvetec awa|cs. I|ese |ave ueer
leatu|ec cr paçe rcs. 32 arc 33 cl t||s /rrua|
Repc|t. 0re cl t|e ¤cst s|çr|l|cart was
'Vcst Respectec Reta|| Cc¤par] cl t|e Yea|' l|c¤
Bus|ress Wc||c. I||s awa|c |s ç|ver tc sc¤e cl t|e
uest cc¤par|es |r va||cus sectc|s, arc |r ¤cce|r
|eta|| ]cu| Cc¤par] |as wcr |t. /pa|t l|c¤ t|at
ct|e| |¤pc|tart awa|cs t|at ]cu| Cc¤par] |as
wcr we|e ÷ VVRD Reta|| Des|çr /wa|c, Custc¤e|
c B|arc lc]a|t] /wa|c at t|e |cu|t| lc]a|t] /wa|cs
p|cç|a¤¤e arc ¤cst ac¤||ec '|cr Stc|e |as||cr
arc l|lest]|e Reta|| cl I|e Yea|' at |V/CES |as||cr
/wa|cs 2011. I|ese awa|cs cr|] |e|te|ate t|e
|espect arc ac¤||at|cr t|at ]cu| Cc¤par]
cc¤¤arcs |r t|e |rcust|] arc a¤crçst |ts pee|s.
Ycu| Cc¤par] |as c|awr up e·ters|ve p|ars tc
|aurc| |ts re·t p|ase cl ç|cwt| arc e·pars|cr.
W|t| t|e st|crç uac||rç cl ]cu| Cc¤par]'s
custc¤e|s, s|a|e|c|ce|s, asscc|ates arc vercc|
pa|tre|s, ]cu| Cc¤par] arc |ts ¤araçe¤ert |s
ccrl|cert t|at t|e ]cu| Cc¤par] w||| çc l|c¤
st|erçt| tc st|erçt| |r t|e lutu|e arc ccrt|rue tc ue
a ¤ajc| arc s|çr|l|cart p|a]e| |r t|e l|e|c cl |rc|ar
¤cce|r |eta||.
C|/|DRu l. R/|EJ/
C|a||¤ar
Auuua| Report 2O1O-11 39
Fß0M0IINß
IEAßEß8hIF
|r |]pe|C|t] Reta|| l|¤|tec ¤a||rç |t a 51º (|rc|a}
Auuua| Report 2O1O-11 4O
Fiuaucia| high|ights 8 Key Ratios
( |r |acs}
FroI|tab|||ty 8tatomoot 2010-11 2009-10 2008-09 2007-08 2006-07
|c. cl Stc|es 97 93 72 73 c0
Iocomo
C|css Reta|| Sa|es 190,713 151,c58 138,311 119,008 88,505
less. Va|ue /ccec Ia· 8,9c0 c,857 c,138 5,551 3,871
C|css Reta|| Sa|es (|et cl ta·es} 181,753 117,801 131,873 113,157 81,c31
0t|e| 0pe|at|rç c V|sce||arecus |rcc¤e 2,412 2,135 2,555 2,5c7 2,77c
184,165 150,23c 131,128 11c,021 87,10c
Expood|turos
Ccst cl çcccs sc|c 121,867 98,12c 88,000 75,351 5c,879
E¤p|c]ee ccsts 9,898 8,759 8,588 7,82c 5,850
0pe|at|rç arc ac¤|r|st|at|ve e·perses 37,189 31,700 32,91c 2c,312 1c,801
168,954 138,885 129,501 109,522 79,532
EßIßIA 15,211 11,351 1,921 c,503 7,871
|rte|est arc l|rarce c|a|çes 734 1,8c9 2,5c0 1,121 110
Dep|ec|at|cr 3,100 3,103 c,313 3,927 2,5c3
||cl|t Belc|e Ia· uelc|e e·cept|cra| |te¤s 11,377 c,379 (3,919} 1,152 1,871
E·cept|cra| |te¤s (5} (188} 2,18c ÷ ÷
||cl|t Belc|e Ia· alte| e·cept|cra| |te¤s 11,383 c,5c7 (c,13c} 1,152 1,871
||cl|t /lte| Ia· 7,518 5,023 (c,372} c97 2,c20
ßa|aoco 8hoot |toms
S|a|e Cap|ta| 4,108 3,191 3,187 3,18c 3,183
0pt|cra||] Ccrve|t|u|e Wa||arts ~ 3,072 ÷ ÷ ÷
Rese|ve c Su|p|us 55,702 21,32c 19,822 2c,183 2c,031
lcar |urcs 14,872 19,935 20,77c 17,293 11,311
Dele||ec Ia· (l|au|||t]}//ssets 325 155 ÷ (1c9} (112}
Cap|ta| E¤p|c]ec 74,682 50,821 11,085 17,131 11,213
||·ec /ssets 35,679 29,8c7 25,873 21,038 15,21c
|et Wc|||rç Cap|ta| 14,959 8,531 8,1c7 15,021 21,13c
FroI|t 8 Ioss ßat|os
Sa|es (C|a|r |eve| ç|cwt|} 23.0% 10.0º 15.9º 31.2º 32.7º
Sa|es (l||e tc l||e ç|cwt|} 16.7% 3.7º 1.2º 11.0º 21.0º
C|css ||cl|t Va|ç|r 31.4% 31.9º 31.7º 32.0º 31.1º
0pe|at|rç E·perses Rat|c 24.7% 2c.2º 30.0º 28.7º 25.1º
0pe|at|rç Va|ç|r (EB|DI/} (Belc|e e·cept|cra| |te¤} 8.0% 7.3º 3.cº 5.5º 8.9º
|BI Va|ç|r uelc|e e·cept|cra| |te¤ 6.0% 1.1º -2.9º 1.2º 5.5º
|/I Va|ç|r 3.9% 3.2º -1.cº 0.cº 3.0º
|rte|est Ccve|açe 8.9 1.7 1.0 5.3 13.7
ßa|aoco 8hoot ßat|os
Deutc|s |c. cl Da]s 3 3 3 2 3
C|ec|tc|s |c. cl Da]s 79 93 91 c9 55
Stcc| Iu|rcve| Rat|c 3.7 3.5 1.0 3.3 3.7
Cu||ert Rat|c 1.4 1.3 1.5 2.0 2.7
/ssets Iu|rcve| Rat|c 3.1 3.3 3.1 2.7 2.1
Deut Ecu|t] Rat|c 0.2 0.c 0.9 0.c 0.1
ßoturo to Iovostors
Retu|r cr |etwc|t| 26.7% 30.1º -5.2º 8.7º 18.8º
Retu|r cr Cap|ta| E¤p|c]ec 19.3% 17.1º -3.0º 5.8º 11.3º
Bcc| Va|ue |e| S|a|e (|r } 75.71 88.58 cc.85 85.11 85.1c
E|S (ta||rç ecu|t] s|a|e at 10/- eac|}
( 5 lc| 2010-11(|r }
Bas|c 9.5 11.1 (18.3} 2.0 7.58
D||utec 9.4 11.3 (18.3} 2.0 7.57
Cas| E|S 13.44 23.30 (0.17} 13.27 15.00
D|v|cerc |e| S|a|e 0.75 1.50 ÷ 1.50 1.50
|cte. |u¤ue| cl stc|es |rc|uces t|e S|cppe|s Stcp Depa|t¤ert stc|es arc Spec|a||t] Stc|es (v|t |c¤e Stcp, Vct|e|ca|e, C|csswc|c
Bcc|stc|es, /|ce||a, Vac, C||r|cue, Estee lauce| c /||pc|t Bus|ress}.
Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 11
Dea| Ve¤ue|s,
Ycu| D||ectc|s a|e p|easec tc p|esert t|e 11
t|
/rrua| Repc|t cr t|e uus|ress arc cpe|at|crs cl t|e Cc¤par] tcçet|e| w|t| t|e /uc|tec
State¤erts cl /cccurts lc| t|e ]ea| ercec Va|c| 31, 2011.
F|oaoc|a| ForIormaoco
( |o |acs}
¥oar oodod Yea| ercec
Fart|cu|ars March 31, 2011 Va|c| 31, 2010
ßota|| Iuroovor
0wr ¤e|c|arc|se (|rc|uc|rç ccrcess|cr sa|es} 172,583.12 111,583.75
Ccrs|çr¤ert ¤e|c|arc|se 18,130.30 13,071.07
0t|e| Reta|| cpe|at|rç |rcc¤e 2,186.88 2,178.93
192,900.30 15c,83c.75
less. Va|ue /ccec Ia· 8,960.24 c,85c.81
less. Ccst cl ccrs|çr¤ert ¤e|c|arc|se 12,965.82 9,129.83
170,974.24 110,550.08
0t|e| |rcc¤e 945.47 c31.17
171,919.71 111,181.25
||cl|t uelc|e Dep|ec|at|cr c Ia· 14,482.46 9,cc9.57
less. Dep|ec|at|cr 3,099.88 3,102.51
||cl|t uelc|e Ia· 11,382.58 c,5c7.03
less. ||cv|s|cr lc| Ia· 3,865.00 1,513.98
||cl|t alte| Ia· 7,517.58 5,023.05
/cc/(less}. Ba|arce u|cuç|t lc|wa|c l|c¤ p|ev|cus ]ea| 2,685.19 (1,17c.00}
||cpcsec D|v|cerc (|rc|. D|v|cerc D|st||uut|cr Ia·} 695.84 c10.71
I|arsle| tc Cere|a| Rese|ve 375.88 251.15
Ba|arce ca|||ec lc|wa|c 9,131.05 2,c85.19
ForIormaoco ßov|ow
Ycu| Cc¤par] |as cperec e|ç|t cepa|t¤erta| stc|es |.e. cre eac| at /u|arçauac, Berça|u|u, B|cpa|, Du|çapu|, |rcc|e, |ew De|||, |ure
arc S|||çu||, ta||rç |ts c|a|r cl stc|es tc 10 stc|es (|rc|uc|rç twc a||pc|t stc|es} sp|eac ac|css |rc|a. |u|t|e|, t|e Cc¤par] |as a|sc cperec
cre '|c¤eStcp' at luc|rcw, ta||rç |ts ta||] tc 5 stc|es.
I|e |everue |s 171,919.71 |acs (p|ev|cus ]ea| . 111,181.25 |acs}, |eç|ste||rç a ç|cwt| cl 21.77º ]-c-] uas|s. I|e ret ||cl|t ac||evec
was 7,517.58 |acs (p|ev|cus ]ea| ret p|cl|t cl 5,023.05 |acs}.
ß|v|dood
Ycu| D||ectc|s a|e p|easec tc |ecc¤¤erc a c|v|cerc cl 0.75 pe| ecu|t] s|a|e cl 5 eac|. [(p|ev|cus ]ea| . 1.50} pe| ecu|t] s|a|e cl
10 eac|.[
I|e c|v|cerc, crce app|cvec u] ¤e¤ue|s |r t|e ersu|rç /rrua| Cere|a| Veet|rç w||| ue pa|c cut cl t|e p|cl|ts cl t|e Cc¤par] lc| t|e
]ea| arc w||| su¤ up tc a tcta| cl c95.81 |acs, |rc|uc|rç c|v|cerc c|st||uut|cr ta·.
Awards aod ßocogo|t|oo
Ycu| Cc¤par] |as ueer ccrle||ec |rte|-a||a w|t| t|e lc||cw|rç awa|cs arc |eccçr|t|crs cu||rç t|e ]ea| urce| |ev|ew.
º Depa|t¤ert Stc|e cl t|e Yea| u] Sta| Reta||e| /wa|cs.
º Ve||t Ce|t|l|cate |r t|e cateçc|] Depa|t¤ert Stc|e > 20000 sc.lt. at t|e VVRD Reta|| Des|çr /wa|cs 2011.
Shoppers Stop Ltd. 0irectors' Report
/rrua| Repc|t 2010-11 | 12
º ||est|ç|cus lc]a|t] awa|c lc| Custc¤e| c B|arc |c]a|t] |r t|e Reta|| Sectc| at t|e lc]a|t] Su¤¤|t.
º Best Reta|| Va||et|rç Ca¤pa|çr cl t|e Yea| /wa|c arc Custc¤e| lc]a|t] p|cç|a¤¤e awa|c at t|e 7t| Re|c c Ia]|c| /wa|cs lc|
Reta|| E·ce||erce at /s|a Reta|| |c|u¤ (/s|a Reta|| Ccrç|ess}.
º Va||et|rç |cea cl I|e Yea| awa|c lc| t|e Zcctcc ¤e|c|arc|se t|e-up w|t| Vccalcre-Essa| at EI Reta|| /wa|cs, uac|ec u] t|e
Eccrc¤|c I|¤es arc Reta||e|s /sscc|at|cr cl |rc|a (R/|}.
º Vcst Respectec Cc¤par] |r t|e Reta|| Sectc| u] Bus|ress Wc||c.
º s|cppe|sstcp.cc¤ |as ueer |eccçr|sec as t|e Vcst /c¤||ec |cr-Stc|e |as||cr arc l|lest]|e Reta||e| cl t|e Yea| at t|e |¤açes
|as||cr /wa|cs 2011.
Furthor Issuo oI 6ap|ta|
Ic ¤eet t|e lurc |ecu||e¤erts erta||ec u] t|e st|crç ç|cwt| pctert|a|s, t|e Cc¤par] |ssuec 2,000,000 ecu|t] s|a|es cl 10/-
eac| tc 0ua||l|ec |rst|tut|cra| Bu]e|s at a p||ce cl c19/- |r accc|carce w|t| SEB| (|ssue cl Cap|ta| arc D|sc|csu|e Recu||e¤erts}
Reçu|at|crs, 2009 c pu|suart tc t|e app|cva| cl ¤e¤ue|s accc|cec u] |csta| Ba||ct cr Dece¤ue| 1c, 2009. |u|t|e| t|e Cc¤par] |as a|sc
s|¤u|tarecus|] a||cttec 1,000,000 ecu|t] s|a|es cl 10/- eac| at a p||ce cl 307.18/-, tc t|e p|c¤cte|s cl t|e Cc¤par] cr p|ele|ert|a|
uas|s, ccrsecuert upcr e·e|c|se cl t|e|| cpt|cr lc| ccrve|s|cr cl 1,000,000 wa||arts, |r accc|carce w|t| SEB| Cu|ce||res.
6rod|t ßat|og
Du||rç t|e ]ea|, ||tc| Rat|rçs |rc|a |||vate l|¤|tec |as upç|acec |at|rç lc| cc¤¤e|c|a| pape| arc s|c|t-te|¤ ceut p|cç|a¤¤e cl Cc¤par]
l|c¤ '|1(|rc}' tc '|1÷(|rc}'. I|e ||¤|t cl t|e |at|rç |as ueer |rc|easec l|c¤ 80 c|c|es tc 100 c|c|es cut cl w||c| 50 c|c|es wcu|c
ue ca|vec cut cl t|e sarct|crec wc|||rç cap|ta| ||¤|t cl t|e Cc¤par].
Du||rç t|e ]ea|, C|ec|t /ra|]s|s c Resea|c| l|¤|tec (C/RE} |as awa|cec '|R1÷' |at|rç lc| cc¤¤e|c|a| pape| arc s|c|t-te|¤ ceut
p|cç|a¤¤e cl Cc¤par] lc| 100 c|c|es, cut cl w||c| 70 c|c|es wcu|c ue ca|vec cut cl t|e sarct|crec wc|||rç cap|ta| ||¤|t cl t|e
Cc¤par]. Ycu| Cc¤par] |as a|sc cuta|rec c|ec|t |at|rç l|c¤ C/RE lc| |crç-te|¤ uar| lac|||t|es cl 291 c|c|es arc s|c|t te|¤ uar|
lac|||t|es cl 10 c|c|es. I|e |at|rç ass|çrec lc| |crç-te|¤ uar| lac|||t|es arc s|c|t-te|¤ uar| lac|||t|es a|e 'C/RE /÷' arc '|R1÷'
|espect|ve|]. Ycu| Cc¤par] |as a|sc cuta|rec c|ec|t |at|rç 'C/RE / ÷' l|c¤ C/RE lc| |cr-Ccrve|t|u|e Deuertu|e |ssue cl 100
c|c|es.
F|oaoco
Ycu| Cc¤par] ccrt|rues w|t| va||cus |r|t|at|ves lc| u||rç|rç ccwr t|e ccst cl uc||cw|rçs w||c| |rc|uces app||cat|cr cl s|c|t-
te|¤ |rst|u¤erts |||e cc¤¤e|c|a| pape|, wc|||rç cap|ta| ce¤arc |cars w|t||r wc|||rç cap|ta| uc||cw|rç, sc as tc |ave lurcs at
cc¤pet|t|ve ccst.
8ub-d|v|s|oo oI sharos
/s app|cvec u] ¤e¤ue|s, u] |csta| Ba||ct cr Dece¤ue| 23, 2010, t|e Cc¤par] |as suu-c|v|cec t|e ecu|t] s|a|e cl t|e lace va|ue cl
10 eac| |rtc twc ecu|t] s|a|es cl 5 eac|. I|e Cc¤par] |ac l|·ec Jarua|] 13, 2011 as t|e Recc|c Date lc| t|e pu|pcse cl suu-c|v|s|cr
cl t|e ecu|t] s|a|es.
Emp|oyoos 8tock 0pt|oo F|ao
I|e ç|art cl stcc| cpt|crs tc e¤p|c]ees |s a ¤ec|ar|s¤ tc a||çr t|e |rte|est cl e¤p|c]ees w|t| t|cse cl t|e Cc¤par], tc p|cv|ce t|e¤
w|t| ar cppc|tur|t] tc s|a|e t|e ç|cwt| cl t|e Cc¤par] arc a|sc tc lcste| t|e |crç-te|¤ cc¤¤|t¤ert. Ycu| Cc¤par] |as lc|¤u|atec arc
ces|çrec va||cus E¤p|c]ees Stcc| 0pt|cr ||ar Sc|e¤es lc| |ts e¤p|c]ees arc cpt|crs we|e ç|artec |r accc|carce w|t| Secu||t|es arc
E·c|arçe Bca|c cl |rc|a (E¤p|c]ees Stcc| 0pt|cr Sc|e¤e arc E¤p|c]ees Stcc| |u|c|ase Sc|e¤e} Cu|ce||res, 1999, as a¤ercec. I|e
Cc¤persat|cr/ Re¤ure|at|cr Cc¤¤|ttee cl t|e Cc¤par] ac¤|r|ste| arc ¤cr|tc| t|e sa¤e.
Du||rç t|e ]ea| urce| |ev|ew, t|e Cc¤par] |as a||cttec 151,120 ecu|t] s|a|es cl 10 eac| (uelc|e suu-c|v|s|cr as statec aucve} arc
29,308 ecu|t] s|a|es cl 5/- eac| cr e·e|c|se cl vestec cpt|crs u] ce|ta|r e¤p|c]ees urce| t|e sa|c ES0| Sc|e¤es.
I|e pa|t|cu|a|s cl E¤p|c]ees Stcc| 0pt|cr ||ar (ES0|} Sc|e¤es, as |ecu||ec u] SEB| (E¤p|c]ee Stcc| 0pt|cr Sc|e¤e arc E¤p|c]ee
Stcc| |u|c|ase Sc|e¤e} Cu|ce||res, 1999, as a¤ercec, a|e appercec |e|ew|t| arc lc|¤s pa|t cl t||s Repc|t.
Shoppers Stop Ltd. 0irectors' Report
/rrua| Repc|t 2010-11 | 13
8ubs|d|ary 6ompao|os aod 6ooso||datod F|oaoc|a| 8tatomoots
|r accc|carce w|t| t|e /cccurt|rç Starca|c /S-21 cr ccrsc||catec l|rarc|a| state¤erts, ]cu| D||ectc|s |ave p|easu|e |r attac||rç
t|e ccrsc||catec l|rarc|a| state¤erts, w||c| lc|¤ pa|t cl t||s /rrua| Repc|t. I|ese ccrsc||catec l|rarc|a| state¤erts p|cv|ce l|rarc|a|
|rlc|¤at|cr aucut ]cu| Cc¤par] arc |ts suus|c|a||es as a s|rç|e ert|t].
V|r|st|] cl Cc|pc|ate /lla||s, Ccve|r¤ert cl |rc|a v|ce Cere|a| C||cu|a| |c . 2/2011 catec |eu|ua|] 8, 2011, |as ç|artec çere|a|
e·e¤pt|cr urce| Sect|cr 212 cl t|e Cc¤par|es /ct, 195c, tc t|e |c|c|rç cc¤par|es, l|c¤ attac||rç t|e spec|l|ec cccu¤erts cl |ts
suus|c|a|] cc¤par|es, as |ele||ec |r Sect|cr 212(1} cl t|e /ct, w|t| |ts Ba|arce S|eet, cr lu|l|||¤ert cl ce|ta|r ccrc|t|crs. I|e Cc¤par]
|as lu|l|||ec t|ese spec|l|ec ccrc|t|crs arc accc|c|rç|], t|e sa|c cccu¤erts cl suus|c|a|] cc¤par|es a|e rct attac|ec tc t|e l|rarc|a|
state¤erts cl t|e Cc¤par]. / su¤¤a|] cl t|e l|rarc|a| pe|lc|¤arce cl t|e suus|c|a|] cc¤par|es |s ç|ver |r t||s /rrua| Repc|t. I|e
arrua| acccurts cl t|e suus|c|a|] cc¤par|es arc t|e |e|atec ceta||ec |rlc|¤at|cr a|e ¤ace ava||au|e tc s|a|e|c|ce|s cl t|e cc¤par]
arc suus|c|a|] cc¤par|es see||rç suc| |rlc|¤at|cr. I|e /rrua| /cccurts cl suus|c|a|] cc¤par|es a|e a|sc cper lc| |rspect|cr u] ar]
¤e¤ue| at t|e |eç|ste|ec cll|ce cl t|e cc¤par] arc cl t|e suus|c|a|] cc¤par].
Du||rç t|e ]ea| urce| |ev|ew, cr Jure 30, 2010, t|e Cc¤par] |as |rc|easec |ts ecu|t] sta|e |r |]pe|c|t] Reta|| (|rc|a} ltc., l|c¤ 19º tc
51º arc ¤ace |t, as |ts suus|c|a|]. I|e Cc¤par] a|sc |c|cs 51º cl |]pe|c|t]'s p|ele|erce s|a|e cap|ta|.
I|e Cc¤par] arc C|csswc|c Bcc|stc|es l|¤|tec, |ts w|c||]-cwrec suus|c|a|] |as ¤utua||] te|¤|ratec t|e l|arc||se aç|ee¤ert w|t|
ellect l|c¤ erc cl uus|ress |cu|s cl Septe¤ue| 30, 2010 arc accc|c|rç|], 'C|csswc|c' uus|ress was |arcec cve| uac| tc C|csswc|c
Bcc|stc|es l|¤|tec.
humao ßosourcos
I|e Cc¤par] ta|es ç|eat p||ce |r t|e cc¤¤|t¤ert, cc¤peterce arc v|çcu| s|cwr u] |ts e¤p|c]ees |r a|| |ea|¤s cl uus|ress. I|e
Cc¤par] ccrt|rues tc ta|e rew |r|t|at|ves tc lu|t|e| a||çr |ts |R pc||c|es tc ¤eet t|e ç|cw|rç reecs cl |ts uus|ress. |ecp|e ceve|cp¤ert
ccrt|rues tc ue a |e] lccus a|ea |r t|e Cc¤par]. Spec|a| ces|çrec t|a|r|rç ¤ccu|es lc| t|e l|crt||re e¤p|c]ees a|e ue|rç ce||ve|ec l|c¤
t|¤e tc t|¤e tc ¤eet t|e t|a|r|rç reecs cl t|e e¤p|c]ees. |u¤ar |e|at|crs |e¤a|rec cc|c|a| t||cuç|cut t|e ]ea|. /s |r t|e ea|||e| ]ea|s,
t|e Cc¤par] ccrcuctec seve|a| t|a|r|rç p|cç|a¤¤es.
/s cr cate cl t|e Ba|arce S|eet, t|e Cc¤par] |ac a tcta| cl 1,317 Custc¤e| Ca|e /sscc|ates.
F|xod ßopos|ts
Du||rç t|e ]ea| urce| |ev|ew, t|e Cc¤par] |as rct acceptec ar] cepcs|t urce| Sect|cr 58/ cl t|e Cc¤par|es /ct, 195c, |eac w|t|
Cc¤par|es (/cceptarce cl Depcs|ts} Ru|es, 1975. |c a¤curt cl p||rc|pa| c| |rte|est was cutstarc|rç as cr t|e Ba|arce S|eet cate.
Aud|tors
Ycu| Cc¤par]'s Statutc|] /uc|tc|s, De|c|tte |as||rs c Se||s, C|a|te|ec /cccurtarts, Vu¤ua|, |et||e at t|e ccrc|us|cr cl t|e ersu|rç
/rrua| Cere|a| Veet|rç. De|c|tte |as||rs c Se||s |ave scuç|t t|e |e-appc|rt¤ert arc |ave ccrl||¤ec t|at t|e|| |e-appc|rt¤ert, |l ¤ace,
s|a|| ue w|t||r t|e ||¤|ts |a|c ccwr urce| Sect|cr 221(1B} cl t|e Cc¤par|es /ct, 195c.
I|e /uc|t Cc¤¤|ttee arc t|e Bca|c cl D||ectc|s |ecc¤¤erc t|e |e-appc|rt¤ert cl De|c|tte |as||rs c Se||s, C|a|te|ec /cccurtarts, as
t|e Statutc|] /uc|tc|s cl t|e Cc¤par].
ß|roctors
|r app|ec|at|cr cl V|. Ccv|rc S|||||arces la|s|ç|tec v|s|cr, w|scc¤ arc çu|carce, w||c| |ave ueer |rva|uau|e tc t|e Cc¤par]'s ç|cwt|,
|e was e|evatec as a Custc¤e| Ca|e /sscc|ate c Varaç|rç D||ectc| cl t|e Cc¤par] lc| a pe||cc cl 3 ]ea|s cc¤¤erc|rç l|c¤ Ju|] 29,
2010. Belc|e t||s appc|rt¤ert, V|. S|||||arce was ||es|cert c CE0 c E·ecut|ve D||ectc| cl t|e Cc¤par].
Ycu| D||ectc|s wcu|c |||e tc p|ace cr |ecc|c t|e|| s|rce|e ç|at|tuce tcwa|cs t|e çu|carce arc ccrt||uut|cr ¤ace u] V|. S|||||arce arc
we|cc¤es ||¤, as t|e Varaç|rç D||ectc| cl t|e Cc¤par].
|r accc|carce w|t| t|e p|cv|s|cr cl t|e Cc¤par|es /ct, 195c arc /|t|c|es cl /sscc|at|cr cl t|e Cc¤par], V|. B. S. |açes| arc
V|. S|a|taac Da|a|, D||ectc|s cl t|e Cc¤par], |et||e u] |ctat|cr at t|e ersu|rç /rrua| Cere|a| Veet|rç arc ue|rç e||ç|u|e, clle| t|e¤ lc|
|e-appc|rt¤ert. / u||el |esu¤e cl t|ese D||ectc|s, ratu|e cl t|e|| e·pe|t|se |r spec|l|c lurct|cra| a|eas, ra¤es cl cc¤par|es |r w||c|
t|e] |c|c t|e c||ectc|s||ps/c|a||¤ars||ps cl Cc¤¤|ttees cl t|e Bca|c as st|pu|atec urce| C|ause 19 cl t|e l|st|rç /ç|ee¤ert w|t| t|e
stcc| e·c|arçes a|e ç|ver |r t|e e·p|aratc|] state¤ert arre·ec tc t|e |ct|ce ccrver|rç t|e lcu|teert| /rrua| Cere|a| Veet|rç.
Shoppers Stop Ltd. 0irectors' Report
/rrua| Repc|t 2010-11 | 11
6orporato ßovoroaoco
I|e Cc¤par] |as ueer p|c-act|ve |r lc||cw|rç t|e p||rc|p|es arc p|act|ces cl çccc Cc|pc|ate Ccve|rarce. I|e Cc¤par] |as ta|er
acecuate steps tc ersu|e t|at t|e ccrc|t|crs cl Cc|pc|ate Ccve|rarce as st|pu|atec |r c|ause 19 cl t|e ||st|rç aç|ee¤ert w|t| t|e Stcc|
E·c|arçes a|e cc¤p||ec w|t|.
/ sepa|ate sect|cr cr Cc|pc|ate Ccve|rarce arc /uc|tc|s Ce|t|l|cate |s arre·ec |e|etc arc lc|¤s pa|t cl t||s Repc|t.
6omp||aoco w|th tho 6odo oI 6ooduct
I|e Cc¤par] |ac evc|vec arc accptec a Ccce cl Ccrcuct lc| |ts Bca|c cl D||ectc|s arc |ts ¤araçe¤ert pe|scrre| uasec cr t|e
p||rc|p|es cl çccc cc|pc|ate çcve|rarce arc uest ¤araçe¤ert p|act|ces. I|e cec|a|at|cr cl cc¤p||arce w|t| t|e Ccce cl Ccrcuct |as
ueer |ece|vec l|c¤ t|e¤. I|e Ccce |s ava||au|e cr t|e weus|te cl t|e Cc¤par]. / ce|t|l|cate tc t||s ellect l|c¤ V|. Ccv|rc S|||||arce,
Varaç|rç D||ectc| lc|¤s pa|t cl t||s Repc|t.
ßomat 8uspooso Accouot üoc|a|mod 8haros
Du||rç t|e ]ea| urce| |ev|ew, 50 ecu|t] s|a|es cl 5/- eac| we|e t|arsle|ec l|c¤ t|e susperse acccurt tc a s|a|e|c|ce| ce¤at acccurt.
/s cr cate, t|e|e a|e 700 Ecu|t] S|a|es cl 5/- eac| (pcst suu-c|v|s|cr}, w||c| we|e a||cttec |r |r|t|a| |uu||c 0lle||rç cl 2005, we|e
|]|rç |r t|e esc|cw acccurt cue tc rcr-ava||au|||t] cl 13 s|a|e|c|ce|s cc||ect pa|t|cu|a|s. Desp|te va||cus |e¤|rce|s tc t|e¤, u] Ka|v]
Cc¤pute|s|a|e |||vate l|¤|tec cu| Reç|st|a| arc S|a|e I|arsle| /çert, rc |espcrse |as ueer |ece|vec. /s a |esu|t, t|e sa|c urc|a|¤ec
s|a|es a|e c|ec|tec tc 'S|cppe|s Stcp ltc ÷ urc|a|¤ec S|a|es De¤at Susperse /cccurt' |r v|ew cl cc¤p||arce cl C|ause 5/ cl t|e
l|st|rç /ç|ee¤ert. Suc| s|a|e|c|ce|s ¤a] app|cac| t|e Cc¤par] w|t| t|e|| cc||ect pa|t|cu|a|s arc p|ccl cl t|e|| |cert|t] lc| c|ec|t|rç
|ecu|s|te s|a|es l|c¤ t|e De¤at Susperse /cccurt tc t|e|| |rc|v|cua| ce¤at /cccurt. I|e vct|rç ||ç|ts cr t|ese s|a|es s|a|| |e¤a|r
l|cter t||| t|e ||ç|tlu| cwre| cl suc| s|a|es c|a|¤s t|e s|a|es.
6oosorvat|oo oI Eoorgy, Iochoo|ogy Absorpt|oo aod Foro|go Exchaogo Earo|ogs 8 0utgo
I|e Cc¤par] |s erçaçec |r t|e ccrt|rucus p|ccess cl ere|ç] ccrse|vat|cr t||cuç| |¤p|cvec cpe|at|cra| arc ¤a|rterarce p|act|ces. I|e
u||el cl t|e pa|t|cu|a|s |r |espect cl va||cus steps arc |r|t|at|ves ta|er |eça|c|rç ccrse|vat|cr cl ere|ç] arc tec|rc|cç] ausc|pt|cr arc |ts
c|sc|csu|e as st|pu|atec u] t|e Cc¤par|es (D|sc|csu|e cl |a|t|cu|a|s |r t|e Repc|t cl t|e Bca|c cl D||ectc|s} Ru|es, 1988 |s as urce|.
º Da||] captu||rç arc ¤cr|tc||rç t|e ere|ç] ccrsu¤pt|cr |r eve|] stc|e.
º /ccpt|cr cl Va||au|e ||ecuerc] D||ves (V|D's} lc| /|| |arc||rç ur|ts w|t| te¤pe|atu|e sersc|s.
º /ccpt|cr cl rew lED ||ç|t|rç tc |ecuce t|e ere|ç] ccrsu¤pt|cr |r ||ç|t|rç.
º Ccrt|c||ec t|e ere|ç] ccrsu¤pt|cr cl |V/C s]ste¤ u] cpt|¤|s|rç t|e te¤pe|atu|e |rs|ce t|e stc|es.
º |rsta||ec capac|tc| Bar|s tc Va|rta|r t|e |cwe| lactc| arc |ecuce t|e |csses.
º Ersu|e p|evert|ve ¤a|rterarce sc|ecu|es çeru|re|] tc |ave uette| ell|c|erc] arc cutput l|c¤ t|e ecu|p¤erts.
º /|| aucve ellc|ts |esu|tec |r t|e ccrse|vat|cr cl 1,118,171 rcs cl ur|ts cl e|ect||c|t] ac|css t|e c|a|r cu||rç t|e ]ea| w||c| a¤curts
tc app·. 85.11 |acs.
I|e Cc¤par] a|sc p|cpcses tc cc¤¤erce ere|ç] auc|t|rç, |¤p|cve¤erts |r t|e pu¤p|rç s]ste¤ |rsta||ec at starca|cre stc|es, |ecuct|cr
|r ere|ç] ccst |r cue ccu|se cl t|¤e.
I|e Cc¤par] ea|rs |c|e|çr E·c|arçe cr sa|e cl |ts ¤e|c|arc|se tc |ts custc¤e|s. |c|e|çr E·c|arçe cutçc cu||rç t|e ]ea| |rc|ucec
pu|c|ase cl cc¤pute| scltwa|e arc pu|c|ase cl ¤e|c|arc|se, p|cless|cra| lees etc. I|e lc|e|çr e·c|arçe ea|r|rçs cu||rç t|e
]ea| was 1,187.10 |acs (p|ev|cus ]ea|. 1,221.11 |acs}, w|e|e as |c|e|çr E·c|arçe cutçc was 1,815.20 |acs (p|ev|cus ]ea| .
3,387.03 |acs}.
Fart|cu|ars oI Emp|oyoos
I|e pa|t|cu|a|s cl e¤p|c]ees as |ecu||ec urce| Sect|cr 217(2/} cl t|e Cc¤par|es /ct, 195c, |eac w|t| Cc¤par|es (|a|t|cu|a|s cl
E¤p|c]ees} Ru|es 1975, as a¤ercec, lc|¤s pa|t cl t||s Repc|t. |cweve|, |r pu|suarce cl Sect|cr 219(1}(u}(|v} cl t|e Cc¤par|es
/ct,195c, t|e |epc|t arc acccurts a|e ue|rç sert tc a|| s|a|e|c|ce|s cl t|e Cc¤par], e·c|uc|rç t|e State¤ert cl |a|t|cu|a|s cl E¤p|c]ees,
w||c| |s ava||au|e lc| |rspect|cr at t|e |eç|ste|ec cll|ce cl t|e Cc¤par] cu||rç |ts wc|||rç |cu|s. /r] s|a|e|c|ce| |rte|estec |r suc|
pa|t|cu|a|s ¤a] |rspect t|e sa¤e.
Shoppers Stop Ltd. 0irectors' Report
/rrua| Repc|t 2010-11 | 15
ß|roctors' ßospoos|b|||ty 8tatomoot
|u|suart tc Sect|cr 217(2//} cl t|e Cc¤par|es /ct, 195c, t|e Bca|c cl D||ectc|s ccrl||¤s t|at.
1. |r t|e p|epa|at|cr cl /rrua| /cccurts, t|e app||cau|e acccurt|rç starca|cs |ac ueer lc||cwec a|crç w|t| p|cpe| e·p|arat|cr
|e|at|rç tc ¤ate||a| cepa|tu|es,
2. t|e] |ave se|ectec suc| acccurt|rç pc||c|es arc app||ec t|e¤ ccrs|stert|] arc ¤ace jucç¤erts arc est|¤ates t|at a|e |eascrau|e
arc p|ucert sc as tc ç|ve a t|ue arc la|| v|ew cl t|e state cl alla||s cl t|e Cc¤par] as at Va|c| 31, 2011 arc cl t|e p|cl|t cl t|e
Cc¤par] lc| t|e ]ea| ercec cr t|at cate,
3. t|e] |ave ta|er p|cpe| arc sull|c|ert ca|e lc| t|e ¤a|rterarce cl acecuate acccurt|rç |ecc|cs |r accc|carce w|t| t|e p|cv|s|crs
cl t|e Cc¤par|es /ct, 195c lc| saleçua|c|rç t|e assets cl t|e Cc¤par] arc lc| p|evert|rç arc cetect|rç l|aucs arc ct|e|
|||eçu|a||t|es,
1. t|e] |ave p|epa|ec t|e arrua| acccurts cr a 'çc|rç ccrce|r' uas|s.
Aud|tors' ßoport
I|e Bca|c |as cu|] e·a¤|rec t|e Statutc|] /uc|tc|s |epc|t tc acccurts arc t|e c|a||l|cat|crs, w|e|eve| recessa|], |ave ueer |rc|ucec
|r t|e |ctes tc /cccurts, sect|cr cl /rrua| Repc|t.
Ackoow|odgomoot
Ycu| D||ectc|s w|s| tc ccrve] t|e|| app|ec|at|cr tc a|| custc¤e|s, uus|ress pa|tre|s, supp||e|s, uar|s arc l|rarc|a| |rst|tut|crs lc| t|e||
|rva|uau|e suppc|t arc |cc| lc|wa|c tc ccrt|ruec suppc|t |r t|e lutu|e. Ycu| D||ectc|s p|ace cr |ecc|c t|e|| app|ec|at|cr lc| t|e s|çr|l|cart
ccrt||uut|cr ¤ace u] a|| t|e asscc|ates at a|| |eve|s, t|e|| cc¤peterce, pe|seve|arce, arc |a|c wc|| t|at |as erau|ec t|e Cc¤par] tc
c|css rew ¤||estcres cr a ccrt|rua| uas|s.
/rc tc ]cu cu| s|a|e|c|ce|s, we a|e ceep|] ç|atelu| lc| t|e ccrl|cerce arc la|t| t|at ]cu |ave a|wa]s |epcsec |r us.
For aod oo boha|I oI tho ßoard oI ß|roctors
6haodru I. ßahoja
/p||| 29, 2011 C|a||¤ar
Ce|t|l|cate cl Cc¤p||arce w|t| t|e ccce cl ccrcuct lc| t|e l|rarc|a| ]ea| 2010-11
|, Ccv|rc S|||||arce, Varaç|rç D||ectc| cl t|e Cc¤par], |e|eu] cec|a|e t|at t|e Cc¤par] |as accptec a Ccce cl Ccrcuct lc| |ts Bca|c
Ve¤ue|s arc |ts ¤araçe¤ert pe|scrre| arc t|e] |ave all||¤ec cc¤p||arce w|t| t|e sa|c Ccce cl Ccrcuct.
For 8hoppors 8top I|m|tod
ßov|od 8hr|khaodo
Vu¤ua|, Custc¤e| Ca|e /sscc|ate c
/p||| 29, 2011 Varaç|rç D||ectc|
Shoppers Stop Ltd. 0irectors' Report
/rrua| Repc|t 2010-11 | 1c
IoIormat|oo roqu|rod to bo d|sc|osod uodor 8EßI (E808 aod E8F8} ßu|do||oos, 1999 as oo March 31, 2011
ßoscr|pt|oo E80F III E80F Iv E80F v - 1 E80F 2008 - 1 E80F 2008 - 2
0pt|crs C|artec' 311,280 211,c80 200,302 1,032,800 100,000
Date cl C|art 01.05.2001 01.02.2005 28.12.2005 29.01.2009 21.03.2010
I|e p||c|rç lc|¤u|a' 75/- 120/- I|e cpt|crs
ç|artec tc e||ç|u|e
e¤p|c]ees a|e
ç|artec at t|e
ave|açe cl t|e
ca||] c|cs|rç
p||ce cl Ecu|t]
S|a|es cl t|e
Cc¤par] at BSE
cu||rç t|e pe||cc
cl c ¤crt|s
|¤¤ec|ate|]
p|ecec|rç t|e
cate cr w||c|
t|e cpt|crs we|e
ç|artec. I|e
cpt|crs we|e
ç|artec at ar
e·e|c|se p||ce cl
192/-
I|e cpt|crs
ç|artec tc e||ç|u|e
e¤p|c]ees a|e
ç|artec at t|e
c|cs|rç p||ce
cl t|e Ecu|t]
S|a|es cl t|e
Cc¤par] at BSE
cr t|e wc|||rç
ca] |¤¤ec|ate|]
p|ecec|rç t|e
cate cl ç|art.
I|e cpt|crs we|e
ç|artec at ar
e·e|c|se p||ce cl
55/-
I|e cpt|crs
ç|artec tc e||ç|u|e
e¤p|c]ees a|e
ç|artec at t|e
c|cs|rç p||ce
cl t|e Ecu|t]
S|a|es cl t|e
Cc¤par] at BSE
cr t|e wc|||rç
ca] |¤¤ec|ate|]
p|ecec|rç t|e
cate cl ç|art.
I|e cpt|crs we|e
ç|artec at ar
e·e|c|se p||ce cl
191/-
0pt|crs vestec' 227,031 1c2,198 131,11c 309,810 11c,700
0pt|crs e·e|c|sec arc tcta| ru¤ue|
cl Ecu|t] S|a|es a||s|rç as a |esu|t
cl e·e|c|se cl cpt|crs'
219,27c 118,351 89,c30 253,5c0 13,200
0pt|crs |apsec/Carce||ec' 92,001 9c,32c 87,710 18,110 11,000
Va||at|cr cl te|¤s cl cpt|crs ÷ ÷ ÷ ÷ ÷
Vcre] |ea||sec u] e·e|c|se cl
cpt|crs
1c,115,700 17,802,180 17,208,9c0 13,915,800 2,521,200
Icta| ru¤ue| cl cpt|crs |r lc|ce' ÷ ÷ 22,932 7c1,100 375,800
0pt|oos graotod to 8oo|or Maoagomoot porsoooo|s*
B. S. |açes| 15,120 27,9c0 22,70c 100,000 ÷
Ccv|rc S|||||arce 18,1c0 11,510 10,c12 2c0,000 21,000
C. B. |ava||a| 11,280 8,910 c,938 100,000 1c,000
Sa||| |a|| 11,220 7,c20 5,901 100,000 1c,000
Varc|a| Ka¤at| ÷ ÷ ÷ 10,000 11,000
/|ur Cupta ÷ ÷ ÷ 10,000 12,000
V|ve| Vat|u| ÷ 1,c20 2,c01 20,000 8,000
Auuexure to the 0irectors' Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 17
0pt|oos graotod to aoy omp|oyoo dur|og tho yoar amouot|og to 5% or moro oI opt|oos graotod dur|og tho yoar*
B. S. |açes| 15,120 27,9c0 22,70c 100,000 ÷
Ccv|rc S|||||arce 18,1c0 11,510 10,c12 2c0,000 21,000
C. B. |ava||a| ÷ ÷ ÷ 100,000 ÷
Sa||| |a|| ÷ ÷ ÷ 100,000 ÷
0pt|crs ç|artec tc ar] e¤p|c]ee
ecua| tc c| e·ceec|rç 1º cl t|e
|ssuec cap|ta| cl t|e cc¤par] at
t|e t|¤e cl ç|art
÷ ÷ ÷ ÷ ÷
D||utec Ea|r|rçs |e| S|a|e (E|S}
pu|suart tc |ssue cl s|a|es cr
e·e|c|se cl cpt|cr ca|cu|atec |r
accc|carce w|t| (/S} 20 Ea|r|rçs
|e| S|a|e.
I|e c||utec E|S cl t|e Cc¤par] ca|cu|atec alte| ccrs|ce||rç t|e ellect cl pctert|a| ecu|t] s|a|es
a||s|rç cr acccurt cl e·e|c|se cl cpt|crs |s 9.12 pe| s|a|e.
W|e|e t|e Cc¤par] |as ca|cu|atec
t|e e¤p|c]ee cc¤persat|cr
ccst us|rç t|e |rt||rs|c va|ue cl
t|e stcc| cpt|cr, t|e c|lle|erce
uetweer e¤p|c]ee cc¤persat|cr
ccst sc cc¤putec arc t|e
e¤p|c]ee cc¤persat|cr ccst t|at
s|a|| |ave ueer |eccçr|sec |l |t |ac
usec t|e la|| va|ue cl t|e cpt|cr,
s|a|| ue c|sc|csec. I|e |¤pact cl
t||s c|lle|erce cr p|cl|ts arc cr
E|S cl t|e Cc¤par] s|a|| a|sc ue
c|sc|csec.
|ac t|e Cc¤par] lc||cwec la|| va|ue ¤et|cc lc| acccurt|rç t|e stcc| cpt|cr cc¤persat|cr, t|e
cc¤persat|cr e·perses wcu|c |ave ueer |cwe| u] 25c.93 |acs. Ccrsecuert|] p|cl|t alte| ta·
wcu|c |ave ueer ||ç|e| u] 25c.93 |acs arc t|e uas|c E|S cl t|e Cc¤par] wcu|c |ave ueer
9.81 pe| s|a|e (||ç|e| u] 0.32 pe| s|a|e} arc t|e c||utec E|S wcu|c |ave ueer 9.71 pe| s|a|e
(||ç|e| u] 0.32 pe| s|a|e}.
We|ç|tec ave|açe e·e|c|se p||ces
arc we|ç|tec ave|açe la|| va|ue
cl t|e cpt|crs s|a|| ue c|sc|csec
sepe|ate|] lc| cpt|crs w|cse
e·e|c|se p||ce e|t|e| ecua|s c| |s
|ess t|ar t|e ¤a||et p||ce cl t|e
stcc|.
I|e Cc¤par] |as rct ç|artec ar] cpt|crs cu||rç t|e l|rarc|a| ]ea| 2010-11.
/ cesc||pt|cr cl t|e ¤et|cc arc
s|çr|l|cart assu¤pt|cr usec cu||rç
t|e ]ea| tc est|¤ate t|e la|| va|ues
cl cpt|crs.
I|e Cc¤par] |as rct ç|artec ar] cpt|crs cu||rç t|e l|rarc|a| ]ea| 2010-11.
' I|e Ecu|t] S|a|e cl t|e Cc¤par] was suu-c|v|cec l|c¤ lace va|ue 10/- eac| |rtc twc Ecu|t] S|a|es cl 5/- eac| w.e.l. Jarua|] 13,
2011, ccrsecuert|] t|e cpt|crs arc |ts |e|atec |rlc|¤at|cr |as ueer acjustec.
'' 2,5c8 cpt|crs ç|artec urce| ES0| V-|| we|e rct su||erce|ec u] |es|çrec e¤p|c]ees arc as cr cate t|ese cpt|crs a|e |apsec.
Auuexure to the 0irectors' Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 18
Certificatiou by M0 8 CF0
Ic,
I|e Bca|c cl D||ectc|s
S|cppe|s Stcp l|¤|tec
Eu|e|a Icwe|s,
B W|rç, 9t| ||cc|,
V|rcspace, l|r| Rcac,
Va|ac (West},
Vu¤ua| ÷ 100 0c1
Dea| S||s,
We |e|eu] ce|t|l] t|at.
(a} We |ave |ev|ewec t|e l|rarc|a| state¤erts arc t|e cas| l|cw state¤ert lc| t|e ]ea| arc t|at tc t|e uest cl cu| |rcw|ecçe arc
ue||el.
|. t|ese state¤erts cc rct ccrta|r ar] ¤ate||a||] urt|ue state¤ert c| c¤|t ar] ¤ate||a| lact c| ccrta|r state¤ert t|at ¤|ç|t
ue ¤|s|eac|rç,
||. t|ese state¤erts tcçet|e| p|esert a t|ue arc a la|| v|ew cl t|e Cc¤par]'s alla|| arc a|e |r cc¤p||arce w|t| e·|st|rç
acccurt|rç starca|cs, app||cau|e |aws arc |eçu|at|cr.
(u} I|e|e a|e, tc t|e uest cl cu| |rcw|ecçe arc ue||el, rc t|arsact|cr erte|ec |rtc u] t|e Cc¤par] cu||rç t|e ]ea| w||c| a|e l|aucu|ert,
|||eça| c| v|c|at|ve cl t|e Cc¤par]'s ccce cl ccrcuct.
(c} We accept |espcrs|u|||t] lc| estau||s||rç arc ¤a|rta|r|rç |rte|ra| ccrt|c|s lc| l|rarc|a| |epc|t|rç arc t|at we |ave eva|uatec t|e
ellect|veress cl t|e |rte|ra| ccrt|c| s]ste¤s cl t|e Cc¤par] pe|ta|r|rç tc l|rarc|a| |epc|t|rç arc we |ave c|sc|csec tc t|e auc|tc|s
arc t|e /uc|t Cc¤¤|ttee, cel|c|erc|es |r t|e ces|çr c| cpe|at|cr cl suc| |rte|ra| ccrt|c|s, |l ar], cl w||c| we a|e awa|e arc t|e
steps we |ave ta|er c| p|cpcse tc ta|e tc |ect|l] t|ese cel|c|erc|es.
(c} We |ave |rc|catec tc t|e auc|tc|s arc t|e /uc|t Cc¤¤|ttee .
(|} s|çr|l|cart c|arçes |r |rte|ra| ccrt|c| cve| t|e l|rarc|a| |epc|t|rç cu||rç t|e ]ea|,
(||} s|çr|l|cart c|arçes |r acccurt|rç pc||c|es cu||rç t|e ]ea| arc t|at t|e sa¤e |ave ueer c|sc|csec |r t|e rctes tc t|e l|rarc|a|
state¤erts, arc
(|||} |rstarces cl s|çr|l|cart l|auc cl w||c| we |ave uecc¤e awa|e arc t|e |rvc|ve¤ert t|e|e|r, |l ar], cl t|e ¤araçe¤ert c| ar
e¤p|c]ee |av|rç a s|çr|l|cart |c|e |r t|e cc¤par]'s |rte|ra| ccrt|c| s]ste¤ cve| l|rarc|a| |epc|t|rç.
|c| S|cppe|s Stcp l|¤|tec
ßov|od 8hr|khaodo 6. ß. Nava|kar
Varaç|rç D||ectc| C|cup C||el ||rarc|a| 0ll|ce|
/p||| 29, 2011
Shoppers Stop Ltd.
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Iod|ao ßota|| - Ioday
|rc|a |as ¤cvec l|c¤ ue|rç t|e 10t| |a|çest eccrc¤] |r t|e wc||c |r 1990 tc t|e 1t| |a|çest tcca] |r te|¤s cl |u|c|as|rç |cwe|
|a||t] (|||}. /ve|açe arrua| C|css Dc¤est|c ||ccuct (CD|} ç|cwt| |as |rc|easec ccrs|stert|], ||s|rç l|c¤ 5.0 pe|cert |r 1985÷1991 tc
c.2 pe|cert |r 1995÷2001 tc a|¤cst 9 pe|cert |r 2005÷2009.
|u|c|as|rç pcwe| cl |rc|ar u|uar ccrsu¤e| |s ç|cw|rç arc u|arcec ¤e|c|arc|se |r cateçc||es |||e /ppa|e|s, Ccs¤et|cs, S|ces, Watc|es,
Beve|açes, |ccc arc ever Jewe||e|], a|e s|cw|] uecc¤|rç ||lest]|e p|ccucts t|at a|e w|ce|] acceptec u] t|e u|uar |rc|ar ccrsu¤e|.
|rc|ar |eta||e|s w||| ue ta||rç acvartaçe cl t||s ç|cwt| arc a|¤|rç tc ç|cw, c|ve|s|l] arc |rt|ccuce rew lc|¤ats |ave tc pa] ¤c|e
attert|cr tc t|e u|arc uu||c|rç p|ccess. I|e e¤p|as|s w||| ccrt|rue tc ue uct| cr |eta|| as a u|arc arc cr |eta||e|s se|||rç u|arcs. Reta||e|s
w||| ccrt|rue tc uu||c t|e|| cwr stc|es as u|arcs tc |e|rlc|ce t|e|| ¤a||et|rç pcs|t|cr|rç, tc cc¤¤ur|cate cua||t] as we|| as va|ue lc|
¤cre]. Susta|rau|e cc¤pet|t|ve acvartaçe w||| ue cepercert cr t|ars|at|rç cc|e va|ues cc¤u|r|rç p|ccucts, |¤açe arc |eputat|cr |rtc
a cc|e|ert |eta|| u|arc st|ateç].
I|e|e |s ve|] c|ea| ev|cerce t|at t|e |rc|ar |eta|| scere |s cr a |c||. / ru¤ue| cl |a|çe cc|pc|ate |cuses |ave a||eac] ¤ace t|e|| lc|a]
|rtc t||s a|era w|t| ¤u|t|p|e lc|¤ats ccve||rç ueaut] arc |ea|t| stc|es, supe|¤a||ets, se|l-se|v|ce ¤us|c stc|es, rewaçe ucc| stc|es,
eve|]-ca]-|cw-p||ce stc|es, cc¤pute|s arc pe||p|e|a|s stc|es, cll|ce ecu|p¤ert stc|es arc |c¤e/uu||c|rç ccrst|uct|cr stc|es. Icca] t|e
c|çar|sec p|a]e|s a|e p|esert |r eve|] |eta|| cateçc|], sc ¤uc| sc t|at t|e|e |s a ce|ta|r serse cl 'c|cwc|rç' |r ce|ta|r sectc|s cl ¤cce|r
|eta||.
Reta|||rç |as seer suc| a t|arslc|¤at|cr cve| t|e past cecace t|at |ts ve|] cel|r|t|cr |as urce|çcre a sea c|arçe. |c |crçe| car a
¤arulactu|e| |e|] cr sa|es tc ta|e p|ace u] ersu||rç ¤e|e ava||au|||t] cl ||s p|ccuct. Icca], |eta|||rç |s aucut sc ¤uc| ¤c|e t|ar ¤e|e
¤e|c|arc|s|rç. |ts aucut cast|rç custc¤e|s |r a stc|], |el|ect|rç t|e|| ces||es arc asp||at|crs, arc lc|ç|rç |crç-|ast|rç |e|at|crs||ps. /s
t|e |rc|ar ccrsu¤e| evc|ves t|e] e·pect ¤c|e arc ¤c|e at eac| arc eve|] t|¤e w|er t|e] step |rtc a stc|e. Reta|| tcca] |as c|arçec
l|c¤ se|||rç a p|ccuct c| a se|v|ce tc se|||rç a |cpe, ar asp||at|cr arc aucve a|| ar e·pe||erce t|at a ccrsu¤e| wcu|c |||e tc |epeat.
Iod|ao ßota|| - Iomorrow
I|e crçc|rç arc e·parc|rç peret|at|cr cl ¤cce|r |eta|| w||| ccrt|rue tc ue c|a|acte||sec u] ce|ta|r |e] leatu|es. I|e|e wcu|c ue a ccuu|e
p|crçec e·pars|cr |rtc ¤ajc| u|uar c|t|es arc e·pars|cr tc s¤a||e| c|t|es arc tcwrs. Sectc|s suc| as lccc c ç|cce|], w|t| la| |esse|
¤cce|r t|ace peret|at|cr cu||ert|], wcu|c see s|çr|l|cart|] ç|eate| peret|at|cr. ||cl|tau|||t] cl p|a]e|s wcu|c ue stau|e arc ç|cua| ¤ajc|s
wcu|c ue p|a]|rç a ç|eate| |c|e t||cuç| st|ateç|c |rvest¤erts arc t|arsle| cl |rcw-|cw. I|us peret|at|cr cl c|çar|sec |eta|| |r suc| a
scera||c wcu|c ç|cw at ar açç|ess|ve pace arc |r ||re w|t| tcp cua|t||e ç|cwt| cl peret|at|cr w|tressec |r ct|e| ccurt||es.
|l ¤cce|r |eta|| we|e tc ¤eet |ts t|ue pctert|a|, t|e s|te cl t|e sectc| |s est|¤atec tc |eac| uS$ 2c0 u||||cr u] 2020 w||c| t|ars|ates
app|c·|¤ate|] tc a 21º pe|cert ¤cce|r |eta|| peret|at|cr. I|e cu||ert s|te cl c|çar|sec |eta|| |s cu||ert|] est|¤atec at c|cse tc
uS$ 28 u||||cr c| c÷7 pe|cert cl tcta| |eta||. I||s |rc|uces lccc arc ueve|açes, c|ct||rç arc accessc||es, e|ect|cr|cs arc app||arces,
lu|r|tu|e arc lu|r|s||rçs, |ea|t| arc pe|scra| ca|e, lccc se|v|ces arc c||r||rç p|aces, spc|t|rç çcccs, |cuu], ucc|s, ¤us|c, |e|su|e arc
erte|ta|r¤ert arc ct|e| ¤|sce||arecus |te¤s. |erce ¤ac|c÷eccrc¤|c lactc|s suc| as CD| ç|cwt|, p||vate ccrsu¤pt|cr ç|cwt| arc
¤|· cl çcccs arc se|v|ces w|t||r p||vate ccrsu¤pt|cr w||| c||ve ç|cwt| |r ¤cce|r |eta||.
I|e c|a||erçes cl |recu|t] w|t||r t|e |rc|ar eccrc¤] |e¤a|r pe|vas|ve. I|e |ssue cl |rc|us|ve ç|cwt| arc ceve|cp¤ert |s p|cuau|] cre
cl t|e ¤cst cc¤p|e· |ssues t|at t|e eccrc¤] laces tcca], arc |t |s |e|e t|at ¤cce|r |eta|| car ccrt||uute s|çr|l|cart|]. I|e c|çar|sec
|eta|| sectc| |as t|e au|||t] tc c||ect|] c||ve |rc|us|cr lc| a ve|] |a|çe ru¤ue| cl pecp|e la|||rç |rtc t||ee sta|e|c|ce| cateçc||es. supp||e|s,
custc¤e|s arc e¤p|c]ees.
||cuau|] cre cl t|e u|ççest 'uccr' t|at ¤cce|r |eta|| u||rçs tc t|e p|ctu|e |s a|sc cre t|at |s clter |çrc|ec. Vcce|r |eta|| car ue a
s|çr|l|cart c||ve| cl |rc|us|ve ç|cwt| |r t|e ccurt|] u] |t's s|ee| vc|u¤e cl tcuc| pc|rts.
I|e |eta|| sectc| |as p|a]ec a p|erc¤era| |c|e t||cuç|cut t|e wc||c |r |rc|eas|rç p|ccuct|v|t] cl ccrsu¤e| çcccs arc se|v|ces. |t |s
t|e seccrc |a|çest |rcust|] |r uS |r te|¤s cl ru¤ue|s cl e¤p|c]ees arc estau||s|¤erts. I|e|e |s rc cer]|rç t|e lact t|at ¤cst cl t|e
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ceve|cpec eccrc¤|es a|e ve|] ¤uc| |e|]|rç cr t|e|| |eta|| sectc| as a |ccc¤ct|ve cl ç|cwt|, arc t|e |rc|ar stc|] cl ¤cce|r |eta|| |s
rct e·pectec tc ue ar] c|lle|ert. I|e |rc|a Reta|| |rcust|] |s t|e |a|çest a¤crç a|| t|e |rcust||es, acccurt|rç lc| cve| 10 pe| cert cl t|e
ccurt|]'s CD| arc a|curc 8 pe| cert cl t|e e¤p|c]¤ert. I|e Reta|| |rcust|] |r |rc|a |as cc¤e lc|t| as cre cl t|e ¤cst c]ra¤|c arc last
pacec |rcust||es w|t| seve|a| p|a]e|s erte||rç t|e ¤a||et. /|| |rc|cat|crs s|cw t|at t|e pace arc t|e ç|cwt| cl t|e |rcust|] w||| ccrt|rue
|r t|e lutu|e.
Iod|ao ßota|| - 6ha||oogos Ahoad
||cuau|] cre cl t|e u|ççest c|a||erçes |r t|e ç|cwt| stc|] cl |rc|ar ¤cce|r |eta|| w||| ue t|e ccst, ava||au|||t] arc ce||ve|] cl cua||t] |eta||
|ea| estate. Rerta|s ccrt|rue tc ue t|e ||ç|est e·perse cl ¤cce|r |eta||e|s arc a|e a|¤cst 1 tc 5 t|¤es t|at cl t|e|| weste|r ccurte|pa|ts.
I||s ccst ccrt|rues tc pcse a c|a||erçe tc |ts ç|cwt|. I|e t|¤e|] ce||ve|] cl ¤a||s arc stc|es |s a |e] lactc| |r t|e ç|cwt| arc peret|at|cr
cl ¤cce|r |eta||. De|a]s |e|e w||| ¤ear suustart|a| setuac|s lc| t|e p|a]e|s |r t|e |rcust|].
I|a|rec ¤arpcwe| s|c|taçe |s a c|a||erçe lac|rç t|e ¤cce|r |eta|| sectc| |r |rc|a. |rc|ar |eta||e|s |ave c|ll|cu|t] |r l|rc|rç t|a|rec pe|scrre|
arc t|e|elc|e |rcu| s|çr|l|cart ccsts |r t|a|r|rç t|e¤. /tt||t|cr |s arct|e| p|cu|e¤ w||c| a|| ¤cce|r |eta||e|s a|e ç|app||rç w|t|.
|rc|ar ¤cce|r |eta|| |as rct ]et çct |rcust|] status. I||s ||rce|s eas] access tc lurcs arc ct|e| uerel|ts t|at ¤cce|r |eta|| ccu|c |ave
çct as ar |rcust|]. I|at apa|t, ¤cce|r |eta||e|s a|e suuject tc ¤u|t|p|e |u|es arc |eçu|at|crs |r acc|t|cr tc |eç|cra| |u|es arc |eçu|at|crs
cr t|e uas|s cl t|e stc|e |ccat|crs. |r sc¤e |eç|crs |eçu|at|crs a|e |¤pcsec cr t|e c|çar|sec |eta||e|s tc |est||ct t|e|| e·pars|cr arc tc
p|c¤cte |eç|cra| |eta||e|s. Reta||e|s a|e a|sc |ecu||ec tc ta|e recessa|] app|cva|s l|c¤ |cca| ucc|es tc ca||] cr w|t| t|e|| uus|ress. I|e|e
|s rc s|rç|e w|rccw lc| c|ea|arces, arc cc¤par|es |ave tc çc tc c|lle|ert açerc|es tc çet app|cva|s, w||c| |s cre cl t|e u|ççest |u|c|es
t|at t|e seç¤ert laces. /ccec tc t||s a|e t|e cevc|ve¤ert cl ce|ta|r ta·es e.ç. se|v|ce ta· ,e·c|se etc. w||c| acc lu|t|e| uu|cer tc a
|eta||e| s|rce t|ese ccsts carrct a|wa]s ue passec cr tc t|e custc¤e|.
lcç|st|cs arc c|st||uut|cr ell|c|erc] arc cpt|¤|sat|cr w||| ue |e] tc t|e success cl t|e |rcust|]. Varulactu|e|s w||| p|cç|ess|ve|] reec tc
|ave sepa|ate tea¤s se|v|c|rç ¤cce|r |eta|| t|ace tc ersu|e uct| pa|t|es p|cl|t ecua||] l|c¤ t|e t|arsact|crs. 0r-t|¤e c|ce| |ep|er|s|¤erts
w||| uecc¤e ¤c|e arc ¤c|e c||t|ca| ever as cc¤pet|t|cr |r t|e sectc| |rc|eases.
8.W.0.I. ANAI¥8I8
8troogths:
º |||st C|t|ters. 0u| |||st C|t|ters C|uu |as ccrt|ruec tc ue cre cl t|e ¤a|r st|erçt|s cl cu| uus|ress. |r t|e ]ea| çcre u] t|e
p|cç|a¤¤e |as e·ceecec t|e 2 ¤||||cr ¤a|| |r ¤e¤ue|s||ps, ¤a||rç |t cre cl t|e |a|çest |c]a|t] ¤e¤ue|s||p p|cç|a¤¤es |r t|e
ccurt|] ac|css sectc|s. I|e cc¤par] ccrt|rues tc ue||eve t|at |ts |c]a|t] p|cç|a¤¤e |s rct cr|] a scu|ce cl suustart|a| cc¤pet|t|ve
acvartaçe, uut |s a|sc a ve|] st|crç st|ateç|c tcc|. Ycu| cc¤par] ue||eves t|at |ts |||st C|t|ters w||| ccrt|rue tc c||ve |ts ç|cwt| u]
|rc|easec ave|açe e·perc|tu|e |r cu| stc|es w||c| w||| ue a|cec u] ta|çetec p|c¤ct|cra| act|v|t|es.
º St|crç lccus cr S]ste¤s c ||ccesses. We ccrt|rue tc |rvest |r cu| l|crt arc uac| erc p|ccesses arc s]ste¤s. I|e cc¤par]
ue||eves t|at ccrt|rucus |rvest¤ert |r pecp|e, p|ccess arc tec|rc|cç] w||| c||ve susta|rau|e arc p|cl|tau|e ç|cwt| lc| t|e cc¤par].
We |ave |r t|e past ]ea|, urce|ta|er a ru¤ue| cl rew |rvest¤erts |r t|e uac| erc arc ccrt|rue tc upç|ace cu| cu||ert |rlc|¤at|cr
tec|rc|cç] capau|||t|es arc p|ccesses.
º St|crç c|st||uut|cr arc |cç|st|cs retwc|| arc supp|] c|a|r. We |ave c|eatec a st|crç c|st||uut|cr arc |cç|st|cs retwc||, w|t| cu| lcu|
D|st||uut|cr Certe|s ccve||rç ¤c|e t|ar 350,000 scua|e leet |arc||rç cve| 100,000 SKus pe| ]ea|, arc wc|||rç 21·7. I|e cc¤par]
ue||eves t|at t|e '|uu ÷ arc-spc|e' ¤cce| lc||cwec u] |t lc| |ts c|st||uut|cr retwc||, w||| starc |t |r çccc steac lc| t|e e·pars|cr
erv|saçec |r t|e lc|t|cc¤|rç ]ea|s.
º Er|arc|rç cu| |u¤ar cap|ta|. We ccrt|rue tc assess cu| Custc¤e| Ca|e /sscc|ates (CC/s} ac|css a|| |eve|s t||cuç| assess¤ert
certe|s tc |cert|l] cc¤peterc] çaps arc use ceve|cp¤ert |rputs (|.e. t|a|r|rç, jcu |ctat|cr etc.} tc u||cçe t|e¤. We ccrt|rue tc
uerc|¤a|| cu| cc¤persat|cr arc uerel|ts t||cuç| ccrsu|tarts, w|t| t|e uest |r t|e |rcust|] tc pa] cu| asscc|ates accc|c|rç|].
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º St|crç urce|starc|rç cl t|e |ea| estate uus|ress. We uerel|t l|c¤ cu| ||c¤cte|s' asscc|at|cr w|t| t|e |ea| estate uus|ress arc t|e||
|e|at|crs||ps w|t| ceve|cpe|s, w||c| |ave |e|pec us accu||e p|ele||ec p|cpe|t|es at cc¤pet|t|ve |ates.
º S|cpp|rç E·pe||erce. I|e Cc¤par] p|cree|ec t|e cepa|t¤erta| stc|e lc|¤at |r t|e |rc|ar ¤a||et w|er t|e |rc|ar ccrsu¤e| was
cep||vec cl c|c|ce. Custc¤e|s we|e c|awr u] t|e s|cpp|rç e·pe||erce. I||s |s t|e c|lle|ert|at|cr t|at t|e Cc¤par] ccrt|rues tc
uar| cr. |||ce |s rct essert|a||] a c|lle|ert|atc| lc| t|e Cc¤par], s|cpp|rç e·pe||erce |s. I|e Cc¤par] |¤pa|ts spec|a| t|a|r|rç tc |ts
e¤p|c]ees tc ersu|e t|at se|v|ce |s rct cc¤p|c¤|sec cr. I|e cc¤par]'s stc|e pcs|t|cr|rç |r t|e 'u||cçe tc |u·u|]' seç¤ert c|ea||]
sets apa|t |t's stc|es l|c¤ t|cse cl t|e |est cl t|e |rcust|] p|a]e|s.
º Varaçe¤ert St|erçt| c Cc|pc|ate Ccve|rarce. I|e Cc¤par] |as a p|cless|cra| arc we||-estau||s|ec ¤araçe¤ert tea¤, |eacec
u] V|. Ccv|rc S|||||arce. |u|t|e|¤c|e, t|e Cc¤par]'s urwave||rç lccus cr çccc cc|pc|ate çcve|rarce |as ueer a ueaccr lc| t|e
|rcust|]. 0u| |rte|ra| arc e·te|ra| auc|tc|s a|e a¤crçst t|e B|ç 1 auc|t l||¤s cl t|e ç|cue. I|e Bca|c |as 5 |rcepercert D||ectc|s.
º St|crç ua|ça|r|rç st|erçt|. |av|rç ueer |r e·|sterce lc| sc ¤ar] ]ea|s arc cue tc |ts st|crç u|arc |¤açe, t|e Cc¤par] ue||eves
t|at |t |s we|| p|acec |r reçct|at|crs/|e-reçct|at|crs cl p|cpe|t] |erta|s, uette| cc¤¤e|c|a|s te|¤s w|t| ¤e|c|arc|se supp||e|s etc.
I|e Cc¤par] |as successlu||] ç|cwr ç|css ¤a|ç|rs ]ea| cr ]ea|.
ß|sks aod 6oocoros:
º E·ecut|cr. We ue||eve t|e |e] ||s| tc cu| ç|cwt| |s e·ecut|cr ||s|. I|e re·t wave cl e·pars|cr |s e·pectec tc |apper cve| t|e re·t
3c ¤crt|s arc t|e t|¤e|] e·ecut|cr cl t||s e·pars|cr w||| ue c||t|ca|. I|e Cc¤par] |as a st|crç e·ecut|cr tea¤ arc we ue||eve, |t
|as t|e capau|||t] tc e·ecute va||ec |eta|| lc|¤ats.
º E¤p|c]ee |etert|cr. W|t| t|e |rc|ar eccrc¤] uac| cr a ç|cwt| pat|, arc ccrsu¤pt|cr uac| cr t|ac|, t|e Cc¤par] ue||eves t|at
e¤p|c]ee sat|slact|cr arc |etert|cr w||| uecc¤e ve|] |¤pc|tart. I|e ce¤arc lc| e·pe||ercec pe|scrre| |r ¤cce|r |eta|| w||| cr|]
|rc|ease |r t|e rea| te|¤ arc |crç-te|¤. Ycu| Cc¤par] ue||eves t|at t||s p|cu|e¤ w||| pe|s|st urt|| t|e |rcust|] |eac|es a steac]
ç|cwt| p|ase.
º De|a] |r stc|e ce||ve|]. Vajc||t] cl t|e rew stc|es p|arrec a|e |r ¤a||s arc ar] ce|a]s |r t|e ccrst|uct|cr cl t|e ¤a||s w||| ce|a] t|e
cc¤par]'s |eta|| e·pars|cr p|ar. |cweve|, t|e Cc¤par] |as uu||t up a |cuust p|pe||re cl lutu|e stc|es arc ue||eves t|at ce|a]s w|||
rct ¤ate||a||] allect e·pars|cr.
º ||essu|e cr |eta|| |ease |erta|s. Rert |s cre cl t|e |a|çest cc¤pcrerts |r a |eta|| uus|ress' l|·ec ccsts, arc t|e case |s rc c|lle|ert
lc| t|e Cc¤par]. Rerta|s a|e e·pectec tc |a|cer crce aça|r |r t|e rea| te|¤.
º Ccve|r¤ert |ev|es. Reta|| |s cu||ert|] rct v|ewec as ar |rcust|] |r |rc|a. |erce t|e|e a|e ce|ta|r |ev|es/cascac|rç ellect cl ta·es cr
t|e uus|ress w||c| a|e p|cv|rç tc ue a ve|] |a|çe uu|cer as t|e|e a|e rc ¤cces lc| t|e |rcust|] tc |eccve| c| pass cr t|ese |ev|es.
I|e |ecert |ev] cl e·c|se cut] cr |eac]¤ace ça|¤erts |s a|sc a cause cl ccrce|r. De|a] |r t|e |c|| cut cl t|e CSI |eç|¤e |s a|sc a
¤atte| cl ccrce|r.
º |rvestee Cc¤par|es. I|e cc¤par] |as |rvestec |r ct|e| ert|t|es arc |cwe| t|ar e·pectec |etu|rs l|c¤ t|ese ert|t|es w||| |ave ar
|¤pact cr t|e cas|l|cws arc ccrsc||catec |esu|ts cl t|e cc¤par].
0pportuo|t|os:
º Cecç|ap||ca| |eac|. Ycu| Cc¤par] ccrt|rues tc |rc|ease |ts |ar-|rc|a lcctp||rt arc |s e·pect|rç tc |aurc| |rtc |ts re·t e·pars|cr
p|ase |r t|e re·t 3c ¤crt|s. I|e Cc¤par]'s st|ateç] tc |rc|ease t|e ru¤ue| cl cepa|t¤erta| stc|es, arc t|e|elc|e |¤p|cve c|t]
w|se peret|at|cr |r rew c|t|es, |rc|ease ¤a||et s|a|e |r e·|st|rç c|t|es t||cuç| acc|t|cra| rew stc|es |r t|cse c|t|es, arc rew stc|es
|r t|e| || c|t|es, |e¤a|rs urc|arçec.
º |]pe|c|t] . I|e Cc¤par] |as accu||ec 32º cl t|e ecu|t] s|a|e cap|ta| cl |]pe|c|t] Reta|| (|rc|a} ltc. cr Jure 30, 2010. |u|suart tc t|e
sa|c accu|s|t|cr, |]pe|c|t] Reta|| (|rc|a} ltc. |as uecc¤e 51º suus|c|a|] cl t|e Cc¤par]. I|e |]pe|¤a||et seç¤ert ccrt|rues tc ue a
||ç| ç|cwt| seç¤ert |r t|e ccurt|]. We ue||eve t|at t|e sccpe lc| |]pe|¤a||ets |r |rc|a |s |¤¤erse arc |]pe|C|t] w||| ue a s|çr|l|cart
ç|cwt| erç|re lc| t|e Cc¤par]. I|e stc|es |ur u] |]pe|C|t] |ave s|cwr ve|] |¤p|ess|ve pe|lc|¤arce |r t|e ]ea| çcre u].
Mauagemeut 0iscussiou aud Aua|ysis Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 52
º |c|¤at c|ve|s|l|cat|cr arc e·pars|cr. Ycu| Cc¤par], |r |t's ccrstart erceavc| tc captu|e wa||et s|a|e, |as c|ve|s|l|ec |rtc ¤u|t|p|e
lc|¤ats v|t, |c¤eStcp w||c| |eta||s |a|c arc sclt lu|r|s||rçs, C|csswc|c lc| ucc|s, ¤us|c arc stat|cre|], V./.C. w||c| |eta||s ||ç|
erc ccs¤et|c p|ccucts, C||r|cue w||c| |eta||s s||r ca|e p|ccucts, Vct|e|ca|e w||c| |eta||s |rlart arc ||cs ¤e|c|arc|se arc a||pc|t
|eta|||rç, u] t]|rç up w|t| I|e |uarce C|cup /C cl Sw|tte||arc. I|e Cc¤par] |as a|sc ¤ace a successlu| lc|a] |rtc |rte|ret |eta|||rç
t||cuç| |ts e-|eta|||rç pc|ta|. I|e cc¤par] w||| ccrt|rue tc lccus arc e·parc t|ese lc|¤ats.
º ||ele||ec pa|tre| lc| lc|e|çr p|a]e|s. Ycu| Cc¤par] ue||eves t|at u] v||tue cl |t's p|eserce ac|css a|| ||lest]|e cateçc||es |r t|e
cepa|t¤erta| lc|¤at, |t's st|crç u|arc va|ue arc |t's p|eserce |r t|e ucc|s arc ¤us|c seç¤ert, |t |s uest p|acec tc u||rç |r
|rte|rat|cra| u|arcs |rtc t|e ccurt|], t|e|e u] er||c||rç t|e p|ccuct ucucuet lc| |t's custc¤e|s arc |r tu|r |rc|eas|rç cppc|tur|t|es
lc| p|ccuct c|ve|s|l|cat|cr arc p|cl|t er|arce¤ert.
Ihroats:
º Eccrc¤|c s|cwccwr. Eccrc¤|c s|cwccwrs |ave a c||ect |¤pact cr ccrsu¤pt|cr. Reta||, ue|rç t|e '|ast ¤||e' |r t|e supp|]/va|ue
c|a|r, |s ucurc tc lace c|ll|cu|t|es |r ar erv||cr¤ert cl eccrc¤|c s|cwccwr.
º I||eat cl rew ert|arts . W|t| |rc|a ccrt|ru|rç tc ue ar att|act|ve |eta|| ¤a||et, t|e Cc¤par] e·pects ¤ar] rew ert|arts |rtc t|e
sectc|, t|us |rc|eas|rç cc¤pet|t|cr.
º Cc¤pet|t|ve ||va||] |r t|e |rcust|]. I|e|e |s |rterse ||va||] a¤crç |eac|rç rat|cra| |eta||e|s lc| rew |ccat|crs arc cua||t] |ea| estate.
I||s w||| lu|t|e| s|a|per |r t|e cc¤|rç 2 ]ea|s as t|e estau||s|ec p|a]e|s w||| lccus cr ç|cwt|. I|e cc¤par] ue||eves t|at |t |as a
|cuust p|pe||re cl stc|es lc| lutu|e e·pars|cr.
º Due tc t|e s|ee| vc|u¤e cl pecp|e v|s|t|rç |eta||s cut|ets ccup|ec w|t| eas] access, |eta|| |s ccrs|ce|ec as a sclt ta|çet arc |erce
¤c|e p|cre tc te||c| attac|s as cc¤pa|ec tc ct|e|s.
6ustomor Eotry:
Reta||e|s ¤easu|e ert|] as lcctla||s, w||c| |s t|e ru¤ue| cl pecp|e erte||rç t|e stc|es. I||s |s cc¤putec t||cuç| ¤arua| ccurt |r a||
stc|es cu||rç t|ac|rç |cu|s.
0
5
10
15
20
25
30
35
2010-11 2009-10 2008-09 2007-08 2006-07
C
u
s
t
o
m
e
r
E
n
t
r
y
(
i
n
m
n
.
)
Year
Customer Entry
(Departmental Store)
19.9
24.9
22.8
30.9
23.3
(So.·.- |o¬c-·, V|S|
Mauagemeut 0iscussiou aud Aua|ysis Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 53
6oovors|oo ßat|o:
Ccrve|s|cr |s t|e |at|c cl t|e ru¤ue| cl t|arsact|crs (Cas| Ve¤c} ve|sus t|e tcta| custc¤e| ert|] |rtc t|e stc|es. I|ac||rç ccrve|s|cr
|e|ps t|e |eta||e| urce|starc t|e p|ccuct|v|t] cl ||s l|crt-erc stc|e e¤p|c]ees arc t|e att|act|veress cl t|e ¤e|c|arc|se arc se|v|ces.
0%
5%
10%
15%
20%
25%
30%
2010-11 2009-10 2008-09 2007-08 2006-07
C
o
n
v
e
r
s
i
o
n
R
a
t
i
o
(
%
)
Year
27%
25%
28%
27%
24%
Conversion Ratio (%)
(Departmental Store)
(So.·.- |o¬c-·, V|S|
8a|os:
C|css Sa|es uct| at c|a|r |eve| arc lc| l||e-Ic-l||e stc|es s|cwec ar |¤p|cve¤ert as cc¤pa|ec tc |ast ]ea|. I|e ç|cwt| was 23º |r
ç|css |eta|| tu|rcve| cl S|cppe|s Stcp cepa|t¤erta| stc|e uus|ress. I|e sa|es pe| sc. lt. |as ueer cc¤putec cr uu||t-up a|ea.
0
5
10
15
20
25
2010-11 2009-10 2008-09 2007-08 2006-07
S
a
l
e
s
(
l
i
k
e
-
t
o
-
l
i
k
e
g
r
o
w
t
h
%
)
Year
Sales (like-to-like growth %)
(Departmental Stores)
14
21
4
1
17
S
a
l
e
s
P
e
r
S
q
u
a
r
e
F
e
e
t
(
i
n
`
)
Year
0
1000
2000
3000
4000
5000
6000
7000
8000
9000
2010-11 2009-10 2008-09 2007-08 2006-07
Sales Per Square Feet (in `)
(Departmental Store)
7973
8671
8218
7955
8518
(So.·.- |o¬c-·, V|S| (So.·.- |o¬c-·, V|S|
Apparo|:
I|e /ppa|e| ccrt||uut|cr tc tcta| sa|es cl t|e S|cppe|s Stcp cepa|t¤erta| stc|e uus|ress was 58.8º |r 2010-11 as cc¤pa|ec tc 59.5º |r
2009-10. I|e|e |as ueer ç|cwt| |r |cr-/ppa|e| seç¤ert w||c| |as |esu|tec |r |cr-/ppa|e| sa|es pe|certaçe ç|cw|rç. I||s |s p||¤a|||]
cue tc custc¤e| uu]|rç ||le st]|e p|ccucts.
Mauagemeut 0iscussiou aud Aua|ysis Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 51
Noo-Apparo|:
I||s cateçc|] |rc|uces Ccs¤et|cs, |e|scra| /ccessc||es, Jewe||e|], leat|e| çcccs, |c¤e Wa|es, E|ect|cr|cs, Bcc|s arc Vus|c. I|ese
||lest]|e p|ccucts |ave ||ç| asp||at|cr va|ue, arc as t|e ccrsu¤|rç c|ass |rc|eases, t|e|e w||| ue a u|ç su|çe |r t|e ce¤arc lc| t||s
cateçc|]. I|e |cr-/ppa|e| ccrt||uut|cr tc tcta| sa|es cl t|e Cc¤par] was 11.2º |r 2010-11.
S
a
l
e
s
M
i
x
(
%
)
0%
20%
40%
60%
80%
100%
2010-11 2009-10 2008-09 2007-08 2006-07
58.9% 61.2% 60.4% 59.5%
41.1% 38.8% 39.6% 40.5%
58.8%
41.2%
Non-Apparels Apparels
Sales Mix (%)
(Departmental Stores)
(So.·.- |o¬c-·, V|S|
Fr|vato Iabo| 8 Fr|vato ßraods:
Ycu| Cc¤par] a|¤s tc p|cv|ce a c|lle|ert|atec arc ur|cue clle||rç tc t|e custc¤e| t||cuç| |ts cwr p||vate |aue|s as we|| as t||cuç|
e·c|us|ve p||vate u|arcs. I|e ccrt||uut|cr cl p||vate |aue| |s at 17.5º cl sa|es as cc¤pa|ec tc 18.8º |ast ]ea| arc p||vate |aue| sa|es
|e¤a|rec ccrstart. Ycu| Cc¤par] |as çct ar e·c|us|ve a||arçe¤ert lc| cepa|t¤erta| stc|e uus|ress w|t| VuSI/|C JE/|S, a Ce|¤ar
B|arc, lc| t|e|| Ver's arc Wc¤er's Wea|. 0u| /ust|r Reec u.K. e·c|us|ve aç|ee¤ert tc |eta|| ¤er's c wc¤er's wea| |as pcstec a
|ea|t|] ç|cwt|. /s a pa|t cl |t's st|ateç] tc p|cv|ce a w|ce |arçe cl ¤e|c|arc|se tc custc¤e|s, ]cu| Cc¤par] a|¤s tc l||| |r t|e çaps |r
t|e rat|cra| u|arc clle||rç t||cuç| |ts p||vate |aue|s c e·c|us|ve a||arçe¤erts w|t| p||vate c |rte|rat|cra| u|arcs.
Mauagemeut 0iscussiou aud Aua|ysis Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 55
Year
Avorago 8o|||og Fr|co (A8F}:
/ve|açe Se|||rç |||ce |s t|e C|css Reta|| Sa|es c|v|cec u] t|e ru¤ue| cl ur|ts sc|c. I|ac||rç /S| |e|ps t|e |eta||e| tc a||çr t|e clle||rç as
pe| t|e custc¤e| seç¤ert as we|| as |¤p|cve t|e p|ccuct|v|t] cl t|e l|cc| space.
704
759
821
856
913
500
600
700
800
900
1000
2010-11 2009-10 2008-09 2007-08 2006-07
A
v
e
r
a
g
e
S
e
l
l
i
n
g
P
r
i
c
e
(
`
)
Year
Average Selling Price (Like to Like)
(Departmental Stores)
(So.·.- |o¬c-·, V|S|
Iraosact|oo 8|zo ( }:
I|arsact|cr s|te |ep|eserts t|e a¤curt spert u] eac| custc¤e| cr ||s uu]|rç. I||s |s cc¤putec u] t|e tcta| sa|es c|v|cec u] t|e ru¤ue|
cl cas| ¤e¤cs.
0
300
600
900
1200
1500
1800
2100
2400
2010-11 2009-10 2008-09 2007-08 2006-07
T
r
a
n
s
a
c
t
i
o
n
S
i
z
e
(
`
)
Year
1562
1713
1843
2029
2207
Transaction Size (`)
(Departmental Store)
(So.·.- |o¬c-·, V|S|
Morchaod|so Furchaso:
Ycu| cc¤par]'s au|||t] tc p|esert cr t|e s|e|ves cc||ect ¤e|c|arc|se assc|t¤erts |r t|e ||ç|t ¤|·, st]|e, cc|cu| c las||cr |s cre cl |ts
¤cst c||t|ca| success lactc|s. / tea¤ cl Bu]e|s c Ve|c|arc|se|s ccrt|rucus|] ersu|e t|at t|e p||c|rç st|ateç] arc va|ue p|cpcs|t|cr a|e
cc¤p|ete|] |r ture w|t| t|e custc¤e|s' e·pectat|crs. We |eçu|a||] ¤cr|tc| sa|es t|ercs tc cpt|¤|se |rvertc|] |eve|s.
0u| we||-estau||s|ec s]ste¤s arc p|ccesses |r Bu]|rç c Ve|c|arc|s|rç c lcç|st|cs erau|es us tc ell|c|ert|] ¤araçe t|e l|cw cl |rvertc|]
tc stc|es , p|cv|ce p|c¤pt |ep|er|s|¤erts arc ¤araçe p||c|rç.
Mauagemeut 0iscussiou aud Aua|ysis Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 5c
Ycu| Cc¤par] ue||eves |r a u|cac c|st||uut|cr cl ||s| w|t| rc ||ç| cepercerc] cr ar] s|rç|e supp||e| arc |as a c|ve|s|l|ec supp||e| uase.
Supp||e|s a|e se|ectec alte| eva|uat|cr uasec cr la|||] st||rçert pa|a¤ete|s w||c| ersu|e t|e cua||t] c |e||au|||t] cl supp|]. /|te|rate
c|st||uut|cr c|arre|s lc| |rvertc|] |ave a|sc ueer put |r p|ace as a ccrt|rçerc], s|cu|c t|e reec a||se.
8upp||or ß|sks:
0u| u|cac|] va||ec clle||rç recess|tates a|||arces w|t| a |a|çe ru¤ue| cl supp||e|s l|c¤ va||cus uus|ress sectc|s. |r c|ce| tc ¤|t|çate t|e
||s| |rvc|vec, we erte| |rtc a||arçe¤erts w|t| vercc|s |r va||cus uus|ress lc|¤ats suc| as 0ut||ç|ts Bu]/Sa|e c| |etu|r, Ccrs|çr¤ert c
Ccrcess|cra||e/Ccrcuct|rç a||arçe¤ert.
8hr|okago:
S|||r|açe |r t|e |eta|| uus|ress |s cel|rec as t|e |css |r |rvertc|] t||cuç| a cc¤u|rat|cr cl s|cp ||lt|rç, p||le|açe, arc e||c|s |r cccu¤ertat|cr
arc t|arsact|cr p|ccess|rç t|at çc urrct|cec. We |ave lccus cr |rvertc|] ccrt|c| arc |ave set up a sepa|ate cepa|t¤ert ca||ec p|cl|t
er|arce¤ert, w||c| rct cr|] ¤cr|tc|s S|||r|açe cr a |eçu|a| uas|s uut a|sc |cc|s at va||cus lactc|s t|at ccu|c |eac tc S|||r|açe at stc|es
arc c|st||uut|cr certe|s. I|e p|cl|t er|arce¤ert cepa|t¤ert, Stc|e 0pe|at|crs a|crç w|t| t|e Supp|] C|a|r tea¤ |ave wc||ec tcçet|e|
arc ¤cr|tc|ec t|e S|||r|açe |eve| cr a ¤crt| cr ¤crt| uas|s w||c| |as |esu|tec |r t|e S|||r|açe pe|certaçe ue|rç ccrt|c||ec at 0.3cº
cl t|e Iu|rcve| arc cu| erceavc| w||| a|wa]s ue tc |cwe| t||s |at|c t||cuç| p|cpe| ¤cr|tc||rç arc ccrt|rucus|] |ev|ew|rç |rvertc|]
¤araçe¤ert p|ccesses arc s]ste¤s.
S
h
r
i
n
k
a
g
e
(
a
s
a
%
o
f
S
a
l
e
s
)
Year
0.46%
0.36%
0.35%
0.40%
0.45%
0.50%
0.55%
0.60%
0.65%
0.70%
2010-11 2009-10 2008-09 2007-08 2006-07
Shrinkage
(as a % of Sales)
0.40%
0.47%
0.52%
(So.·.- |o¬c-·, V|S|
8usta|o|og ßross Marg|os:
I|e ç|css ¤a|ç|r |as cec|easec cu||rç t|e ]ea| tc 31.1º l|c¤ 31.9º as cc¤pa|ec tc t|e |ast ]ea|, p||rc|pa||] cr acccurt cl |rc|eases
|r |ev|es arc t|e t|ars|t|cr |r t|ac|rç ¤cce|s. I|e Cc¤par] ue||eves t|at çc|rç lc|wa|c t|e |rc|eas|rç s|a|e cl |everue l|c¤ p||vate
|aue|s, |¤p|cvec sa|es ¤|· w|t| ||ç|e| ccrt||uut|cr l|c¤ ||lest]|e p|ccucts (|.e. watc|es, |eat|e|, jewe||e|], pe|lu¤es arc ccs¤et|cs}, arc
s|||r|açe ccrt|c| |as |e|pec |¤p|cve ç|css ¤a|ç|rs. Vercc| ¤araçe¤ert as a|sc scu|c|rç au|||t] |as |¤p|cvec w|t| sca|e arc wcu|c
acc|ue ¤c|e eccrc¤|es arc ||ç|e| ç|css ¤a|ç|rs çc|rç lc|wa|c.
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0porat|og FroI|t:
0pe|at|rç ||cl|t (w|t|cut e·cept|cra| |te¤s} |as |rc|easec u] 31º tc 15,211 |acs l|c¤ 11,351 |acs |r t|e p|ev|cus ]ea|. I|e 0pe|at|rç
||cl|t Va|ç|r |as ç|cwr tc 8.0º l|c¤ 7.3º. cue tc |¤p|cve¤ert |r |||e tc |||e sa|es ç|cwt|, |at|cra||sat|cr cl ccsts, ||ç|t s|t|rç cl sc¤e
cepa|t¤erta| stc|es/rew uus|ress lc|¤ats.
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
2010-11 2009-10 2008-09 2007-08 2006-07
Year
Operating Profit (without exceptional items) % to Gross Retail Sales
8.9%
5.5%
3.6%
7.3%
EBIDTA
E
B
I
D
T
A
(
`
i
n
m
i
l
l
i
o
n
s
)
7,874
6,503
4,924
11,351
15,211
8.0%
Not Iotorost:
|et |rte|est ccst |as |ecucec tc 733.c |acs as aça|rst 1,8c9 |acs ¤a|r|] cue tc t|e Cc¤par]'s 0|| |ssue arc |ecuct|cr |r ccst cl
lurcs arc |ecucec uc||cw|rçs.
FroI|t aItor Iax:
I|e Cc¤par] |as ac||evec pcst ta· p|cl|t cl 7517 |acs, as aça|rst a pcst ta· p|cl|t cl 5023 |acs |ast ]ea|, w||c| |s ar |rc|ease cl
50º cve| t|e |ast ]ea|.
ß|v|dood:
I|e Cc¤par] |as p|cpcsec a c|v|cerc cl 15º a¤curt|rç tc c9c |acs (|rc|uc|rç Cc|pc|ate D|v|cerc Ia·}.
Iovootory:
I|e |rvertc|] as at t|e erc cl cu||ert ]ea| |s 15,111 |acs as aça|rst 11,989 |acs as at t|e erc cl t|e |ast ]ea|. |rvertc|] |c|c|rç
pe||cc |s 100 ca]s cu||rç t|e cu||ert l|sca| aça|rst 105 ca]s |ast ]ea|. I|e |rvertc|] |as ueer va|uec at |cwe| cl ccst c| ret |ea||sau|e
va|ue.
I|qu|d|ty:
I|e cas| çere|atec l|c¤ cpe|at|crs was 13,721 |acs.
Froduct|v|ty/0porat|og oII|c|oocy paramotors:
We |cc| at cu| C|css Va|ç|r w|t| |ele|erce tc cu| Space, |rvertc|] arc laucu| tc ¤cr|tc| cu| ell|c|erc] w|t| t|e |e|p cl 3 |rc|catc|s
|.e. C|css Va|ç|r cr |rvertc|] (CVR0|}, C|css Va|ç|r Retu|r cr ||cc| Space (CVR0|} arc C|css Va|ç|r Retu|r cr laucu| (CVR0l}.
CVR0| |e|ps tc cpt|¤|se |rvertc|] |eve|s, CVR0| |e|ps tc ¤a·|¤|se t|e cas| ¤a|ç|rs arc CVR0l |e|ps tc |rc|ease |aucu|
p|ccuct|v|t].
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ßMß0I
2.0
2.5
3.0
3.5
4.0
4.5
5.0
5.5
6.0
6.5
2010-11 2009-10 2008-09 2007-08 2006-07
G
M
R
O
I
(
`
I
n
v
e
n
t
o
r
y
)
Year
2.75
3.62
3.29
5.50
6.03
(So.·.- |o¬c-·, V|S|
ßMß0F
G
M
R
O
F
(
`
p
e
r
u
n
i
t
o
f
r
e
t
a
i
l
s
p
a
c
e
)
Year
1700
1900
2100
2300
2500
2700
2900
2010-11 2009-10 2008-09 2007-08 2006-07
2520
2735
2471
2608
2771
(So.·.- |o¬c-·, V|S|
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ßMß0I
500,000
700,000
900,000
1,100,000
1,300,000
1,500,000
1,700,000
1,900,000
2010-11 2009-10 2008-09 2007-08 2006-07
1,032,609
1,198,593
1,270,014
1,649,991
1,719,600
G
M
R
O
L
(
`
p
e
r
e
m
p
l
o
y
e
e
)
Year
(So.·.- |o¬c-·, V|S|
Fartoor 8at|sIact|oo Iodox (F8I}:
I|e pe|lc|¤arce cl ar] cc¤par] cepercs cr t|e asscc|at|cr arc |e|at|crs||p |t uu||cs w|t| va||cus vercc|s/pa|tre|s cve| a pe||cc cl
t|¤e. Ic eva|uate t||s sat|slact|cr arc e·pectat|cr, ]cu| cc¤par] |as appc|rtec CSVV (Custc¤e| Sat|slact|cr Veasu|e¤ert arc
Varaçe¤ert}, a pa|t cl |VRB (|rc|ar Va||et|rç arc Resea|c| Bu|eau} tc cc ar |¤pa|t|a| eva|uat|cr cl cu| |e|at|crs||p w|t| va||cus
sta|e|c|ce|s. I||s |e|ps ]cu| c|çar|sat|cr urce|starc t|e e·pectat|crs cl va||cus uus|ress pa|tre|s, cu||ert st|erçt|s arc ccrce|r a|eas
t|e|eu] |e|p set a c|ea| |cac¤ap lc| |¤p|cve¤ert arc uette| pe|lc|¤arce.
0u| |S| scc|es lc| t|e l|ve ]ea|s a|e as ue|cw.
¥oar 200c 2007 2008 2009 2010
8coros 3.80 1.00 1.0c 3.89 1.11
Fartoorsh|p Ior Frogross:
|a|tre|s||p lc| ||cç|ess (|||} |s a |e] vercc| ¤eet w||c| ]cu| cc¤par] ccrcucts arrua||]. Du||rç t||s evert, ]cu| cc¤par] çets arc
ç|ves cppc|tur|t] tc t|e tcp |eta|| vercc|s/u|arcs tc c|scuss arc st|erçt|er t|e asscc|at|cr, apa|t l|c¤ e·p|c||rç va||cus uus|ress
pcss|u|||t|es w|t| eac| ct|e|. I|e su¤¤|t a|sc uecc¤es a p|atlc|¤ lc| ]cu| cc¤par] as we|| as |ts pa|tre|s tc s|a|e t|e|| e·pe||erces w|t|
eac| ct|e|. Ycu| cc¤par] a|sc |rv|tes we||-|rcwr |rte|rat|cra| arc rat|cra| spea|e|s tc s|a|e |ea|r|rç arc e·pe||erce w||c| |s c|cse|]
|e|atec tc Reta||, B|arc, Custc¤e|, lcç|st|cs, etc.
Ycu| cc¤par] a|sc |eccçr|ses t|e pe|lc|¤arce cl tcp pa|tre|s w|c a|e |ewa|cec w|t| 'S|0||ERS SI0| ||||/ClE /W/RDS' cu||rç
t||s su¤¤|t.
I||s |s ar act|v|t] w|t| ¤c|e t|ar 100 vercc|s/pa|tre|s atterc|rç t|e su¤¤|t.
humao ßosourcos:
|c| ]cu| Cc¤par], t|e |u¤ar Rescu|ce lurct|cr |as evc|vec l|c¤ pu|e |R tc Ia|ert Varaçe¤ert cve| t|e |ast cre ]ea|. W|t| cu| lccus
ue|rç cr Ia|ert Varaçe¤ert ÷ Ia|ert ceve|cp¤ert arc |etert|cr we|e cl p||¤e |¤pc|tarce cve| t|e past ]ea|.
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Ycu| Cc¤par] |s |rcwr lc| |ts we||-cel|rec arc ellect|ve ¤ccu|e ÷ I|e Bau] Karça|cc p|cç|a¤¤e w||c| lurca¤erta||] ceve|cps t|e
l|crt erc asscc|ates tc a ¤araçe||a| |c||. I||s ]ea| we wc||ec w|t| arc |e|pec 27 asscc|ates c|css t|e u||cçe l|c¤ a l|crt erc asscc|ate
tcwa|cs a ¤araçe||a| |c||. We |cert|l|ec, ceve|cpec, t|a|rec arc ç|cc¤ec t|e¤ tc t|e|| re·t u|ç ass|çr¤ert.
I|e Varaçe||a| arc Supe|v|sc|] I|a|r|rç p|cç|a¤¤e (V./.S.I} was ccrcuctec lc| 37 ca]s w|t| t|e |e|p cl |rte|ra| as we|| as e·te|ra|
t|a|re|s. I|e ccrtert was e·|aust|ve arc ellect|ve.
Ycu| Cc¤par] |as a|sc |ecel|rec t|e Ke] Resu|t /|eas (KR/'s} |r a Ba|arcec Scc|e Ca|c lc|¤at. I|e sc|e cuject|ve lc| cc|rç t|e sa¤e
was tc cateçc||se t|e KR/'s |rtc l|rarc|a|, e¤p|c]ee, |rte|ra| p|ccess arc st|ateç|c sc t|at eve|] asscc|ate çets a c|ea| |cea cr t|e||
pe|lc|¤arce c||te||a. I||s ersu|es t|at t|e asscc|ate pe|lc|¤s tc t|e ¤a·|¤u¤ w||c| |esu|ts |r pe|scra| as we|| as c|çar|sat|cra|
ç|cwt|.
W|t| t|e c|arç|rç ccrsu¤e| ue|av|cu| arc tc uestcw çccc custc¤e| se|v|ce we |||ec a pcc| cl Varaçe¤ert I|a|rees t||cuç| ca¤pus
p|ace¤erts arc a|sc |||ec stucerts l|c¤ las||cr |rst|tutes arc ces|çratec t|e¤ as 'CC/ c |as||cr /ss|starts'.
I|e lccus cr lea|r|rç c Deve|cp¤ert |as ueer ar crçc|rç arc |rteç|a| pa|t cl t|e c|çar|sat|cr w|e|e t|e|e |as ueer a 5cº ç|cwt| |r
t|a|r|rç |cu|s e·tercec tc asscc|ates ac|css a|| |eve|s.
Ira|o|og hours 09-10 Ira|o|og hours 10-11 ßrowth 0vor Iast ¥oar %
12728 28931 127
Ycu| cc¤par] |as ccrcuctec 71 assess¤ert cert|es |r t|e |Y 2010-2011 ccve||rç 371 asscc|ates |r c|ce| tc p|cv|ce ç|cwt| cppc|tur|t|es
t|us ersu||rç a la|| arc t|arspa|ert ç|cwt| p|ccess.
Markot|og:
0u| u|arc p|||cscp|] cl 'Sta|t Sc¤et||rç |ew' was t|ars|atec |rtc cu| u|arc ca¤pa|çr, w||c| was t|e¤ec at vc|c|rç t|e u|uar Scc|a|
Ccrce|rs cl erv||cr¤ert, |ea|t|, |cac c puu||c t|arspc|t, a¤crçst ct|e|s. /t t|e sa¤e t|¤e t|e ca¤pa|çr pc|t|a]ec t|e ||ç| las||cr
u|arc |¤açe|] cl S|cppe|s Stcp. Ia||rç t|e u|arc p|||cscp|] a step lu|t|e|, we |r|t|atec t|e 'Sta|t Sc¤et||rç |ew Icca]' ca¤pa|çr |r
|e] ¤a||ets |||e Vu¤ua|, |ew De||| arc Berça|u|u. I||s ca¤pa|çr |s a se||es cl s¤a|| /cs t|at a|e puu||s|ec eve|] I|u|sca] cr paçe
3 cl |e] c|t] supp|e¤erts cl a |eac|rç puu||cat|cr |r t|ese c|t|es. I|ese acs p|cv|ce |rte|est|rç las||cr/s|cpp|rç t|ps tc t|e custc¤e|s
eve|] wee|, w||c| a|e a|sc ||ç|||ç|tec at t|e p|]s|ca| stc|es t||cuç| V|sua| Ve|c|arc|s|rç.
We ccrt|ruec w|t| cu| e·c|us|ve |eta|| a||arçe¤erts lc| ¤e|c|arc|se ||cers|rç w|t| Vccalcre-Essa| lc| t|e|| u|arc ¤ascct ÷ Zcctcc. |r
cu| erceavcu| tc p|cv|ce ur|cue ¤e|c|arc|se, we a|sc t|ec-up w|t| t|e l||¤ 'B|ea| Ke Baac' sta|||rç |¤|ar K|ar arc Deep||a |acu|cre
arc çave a c|arce tc cu| custc¤e|s tc e¤u|ate t|e las||cr cep|ctec |r t|e l||¤. I||s ]ea| we a|sc ccrt|ruec w|t| cateçc|]-uasec
p|c¤ct|crs |||e t|e Der|¤ |est, Watc| 0ut lest|va|, |cct la||, Sta|es c C|a|es, C||tte| c C|a¤ tc ra¤e a lew. I|ese lest|va|s lccusec cr
clle|s t|at we|e ava||au|e ac|css a|| u|arc ava||au|e |r cu| stc|e lc| t|e pa|t|cu|a| cateçc|].
Custc¤e| erçaçe¤ert ueca¤e t|e u|ç ||ç|||ç|t cl t||s ]ea| w|t| |rrcvat|ve |r|t|at|ves |r Scc|a| Vec|a Va||et|rç. Va||cus ccrtests cr t||s
space |ave ersu|ec t|at S|cppe|s Stcp erjc]s a |a|çe ru¤ue| cl l|KES, ¤c|e t|ar 7 |a||s cr |aceucc|. S|cppe|s Stcp |s a|sc act|ve cr
ct|e| p|atlc|¤s suc| as Iw|tte|, |cu|scua|e arc Ycu Iuue.
6ustomor 8at|sIact|oo:
/t S|cppe|s' Stcp, we st||ve tc p|cv|ce cu| custc¤e|s w|t| t|e uest cve|a|| e·pe||erce cl s|cpp|rç w|t| us. Ic ¤easu|e t|e custc¤e|
e·pe||erce, we ccrcuct custc¤e| sat|slact|cr su|ve]s tc eva|uate a |arçe cl pa|a¤ete|s |rc|uc|rç ¤e|c|arc|se |arçe arc cua||t], stc|e
erv||cr¤ert, stall, t|arsact|cr ell|c|erc], |c]a|t] p|cç|a¤¤e, sc|e¤es arc p|c¤ct|crs tc ra¤e a lew arc urce|ta|e |¤p|cve¤erts |r
va||cus a|eas.
We a|sc |rc|uce se|ect cc¤pet|t|cr stc|es |r cu| su|ve]s |r c|ce| tc ¤easu|e e·pe||erce |r cu| stc|es as cc¤pa|ec tc cc¤pet|t|cr.
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0vora|| 6ustomor 8at|sIact|oo Iodox:
Jaouary 2006 August 2006 Novombor 2007 Fobruary 2009 Apr|| 2010
c0 c3 c3 81 80
Ioya|ty Frogrammo
Ycu| Cc¤par] |as p|cree|ec |rc|a's l||st |eta|| |c]a|t] p|cç|a¤¤e - '|||st C|t|ters'. I|e |||st C|t|ters uase ç|ew u] 25º l|c¤ 1c.11 |acs
tc cve| 20.17 |acs custc¤e|s |r t||s ]ea|. Du||rç t|e cu||ert ]ea|, t|e |||st C|t|ters ccrt||uutec 73º cl t|e Cc¤par]'s arrua| sa|es. I|e
|||st C|t|ter p|cç|a¤¤e |as 3 t|e|s ÷ C|ass|c Vc¤erts (ert|] |eve|}, S||ve| Ecçe arc Cc|cer C|cw. Ve¤ue|s la|| |rtc t|e va||cus t|e|s cr
t|e uas|s cl t|e|| spercs w|t| us.
|||st C|t|ters a|sc ea|r c|lle|ert|a| |ewa|c uas|s cr t|e|| cu||ert t|e| cl ¤e¤ue|s||p. |||st C|t|ters |ece|ve.
º Rewa|c pc|rts cr t|e|| spercs. I|ese |ewa|c pc|rts car ue |ecee¤ec lc| a w|ce va||et] cl ¤e|c|arc|se at ]cu|
Cc¤par]'s stc|es.
º E·c|us|ve sc|e¤es, uerel|ts arc p|c¤ct|crs.
º E·tercec arc e·c|us|ve s|cpp|rç |cu|s ÷ espec|a||] cu||rç t|e lest|ve seascr. Spec|a| p|ev|ews uelc|e t|e sa|e
pe||ccs.
º |rv|tat|crs tc e·c|us|ve everts ÷ uct| |r-stc|e as we|| as t|cse c|çar|sec cuts|ce t|e stc|es.
º |c¤e ce||ve|] cl a|te|ec ¤e|c|arc|se.
º E·c|us|ve |||st C|t|ters |curçe at se|ect stc|es tc |e|a· alte| |ect|c s|cpp|rç.
|||st C|t|ters a|wa]s sta] upcatec w|t| a|| ceta||s pe|ta|r|rç tc t|e|| ¤e¤ue|s||p as we|| as t|e uest cl clle|s arc p||v||eçes ava||au|e,
t||cuç| a ur|cue se|v|ce ÷ |||st C|t|ters |||st I||cuç|. W|t| t||s se|v|ce, |||st C|t|ters çet a|| t|e |rlc|¤at|cr t|at t|e] wart cr t|e||
¤cu||e p|cres s|¤p|] u] serc|rç ar SVS.
I||s ]ea|, t|e cc¤par] ccrt|ruec w|t| t|e e·c|us|ve p|c¤ct|cr lc| |||st C|t|ters Ve¤ue|s ÷ |||st C|t|ters' ||esta. urce| t||s p|c¤ct|cr
t|e ¤e¤ue| ea|rec 3 t|¤es t|e |ewa|c pc|rts ues|ces |cts cl ct|e| spec|a| clle|s arc cea|s. I|e p|c¤ct|cr was ve|] we|| |ece|vec arc
|t |e|pec us lu|t|e| |e|rlc|ce cu| st|crç |e|at|crs||p w|t| t||s ¤e¤ue| cc¤¤ur|t].
6o-braodod 6rod|t/ßob|t 6ard Frogrammo w|th 6|t|baok:
Ycu| Cc¤par] |r asscc|at|cr w|t| C|t|uar| |as clle|ec |ts |||st C|t|ters ar cpt|cr tc acc cr a c|ec|t ca|c tc t|e|| e·|st|rç |c]a|t] ca|cs.
I||s erau|es |||st C|t|ters tc acc cr a c|ec|t ||re tc t|e|| pu|c|ases. I|e] a|sc |ave t|e accec acvartaçe cl ue|rç au|e tc c|ccse l|c¤
a¤crçst va||cus att|act|ve l|rarc|rç cpt|crs, cas| uac| sc|e¤es, EV| sc|e¤es etc. lc| uu]|rç at ]cu| Cc¤par]'s stc|es. |c| custc¤e|s
w|c a|e ave|se tc c|ec|t, t|e|e |s ar cpt|cr cl act|vat|rç a ceu|t ca|c. /s cr 31 Va|c| 2011, t|e ru¤ue| cl ¤e¤ue|s |r t|e cc-u|arcec
ca|c p|cç|a¤¤e was cve| 1,c0,000.
ß|sk Maoagomoot aod Iotoroa| 6ootro|:
Ellect|ve çcve|rarce ccrs|sts cl cc¤petert ¤araçe¤ert, |¤p|e¤ertat|cr cl starca|c pc||c|es arc p|ccesses, ¤a|rterarce cl ar
app|cp||ate auc|t p|cç|a¤¤e w|t| |rte|ra| ccrt|c| erv||cr¤ert ellect|ve ||s| ¤cr|tc||rç arc ¤araçe¤ert |rlc|¤at|cr s]ste¤s (V|S}.
I|e Cc¤par] |as ar |rteç|atec app|cac| lc| ¤araçe¤ert cl ||s| arc |as lc|¤u|atec t|e l|a¤ewc|| lc| |eçu|atc|] arc ||s| ¤araçe¤ert,
starca|c|s|rç t|e cel|r|t|cr cl |rte|ra| ccrt|c|s.
|t a|sc p|cv|ces a l|a¤ewc|| lc| ||s| ¤araçe¤ert arc |eçu|atc|] cc¤p||arce, w||c| |ecu||es ||s| assess¤erts arc |e|atec pc||c|es,
a ccrt|c|-uasec erv||cr¤ert arc act|v|t|es, |rlc|¤at|cr arc cc¤¤ur|cat|cr p|ccecu|es, arc a ¤cr|tc||rç ¤ec|ar|s¤ lc| t|e ccrt|c|
erv||cr¤ert.
I|e Cc¤par] |as a scurc s]ste¤ cl |rte|ra| Ccrt|c|s lc| l|rarc|a| |epc|t|rç cl va||cus t|arsact|crs, ell|c|erc] cl cpe|at|crs arc
cc¤p||arce w|t| |e|evart |aws arc |eçu|at|crs cc¤¤ersu|ate w|t| |ts s|te arc ratu|e cl uus|ress. I|e Cc¤par] |as a we||-cel|rec
s]ste¤ cl ¤araçe¤ert |epc|t|rç arc pe||cc|c |ev|ew cl uus|resses tc ersu|e t|¤e|] cec|s|cr-¤a||rç.
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I|ese |rte|ra| ccrt|c| p|ccecu|es ersu|e t|e lc||cw|rç.
º Ell|c|ert use arc p|ctect|cr cl |escu|ces.
º Cc¤p||arce w|t| pc||c|es, p|ccecu|es arc statutes.
º /ccu|ac] arc p|c¤ptress cl l|rarc|a| |epc|ts.
I|e V|S lc|¤s ar |rteç|a| pa|t cl t|e Cc¤par]'s ccrt|c| ¤ec|ar|s¤. /|| cpe|at|rç pa|a¤ete|s a|e ¤cr|tc|ec arc ccrt|c||ec, w|t|
¤ate||a| cev|at|crs l|c¤ t|e arrua| p|arr|rç arc uucçet|rç arc uus|ress cut|cc| |rc|uc|rç cap|ta| e·perc|tu|e |epc|tec tc t|e Bca|c cr
cua|te||] uas|s.
Repc|ts cl |rte|ra| auc|tc|s a|e |ev|ewec u] t|e /uc|t Cc¤¤|ttee, arc cc||ect|ve ¤easu|es a|e ca|||ec cut tcwa|cs lu|t|e| |¤p|cve¤ert
|r s]ste¤s arc p|ccecu|es arc cc¤p||arce w|t| |rte|ra| Ccrt|c| S]ste¤. I|e uca|c a|sc |eccçr|ses t|e wc|| cl t|e auc|tc|s as ar
|rcepercert c|ec| cr t|e |rlc|¤at|cr |ece|vec l|c¤ t|e ¤araçe¤ert cr t|e cpe|at|crs arc pe|lc|¤arce cl t|e cc¤par].
Iochoo|ogy Io|t|at|vos:
|r t|e ]ea| 2010-11, ]cu| cc¤par] ccrt|ruec |ts t||ust tcwa|cs sca||rç up lc| ç|cwt|, |rc|eas|rç cpe|at|cra| ell|c|erc] arc e·p|c||rç
tec|rc|cç] |eac |rrcvat|cr tc susta|r t|e |eace|s||p pcs|t|cr |r |I accpt|cr |r t|e |rc|ar arc C|cua| |eta|| ¤a||ets. Sc¤e cl t|e |e]
|r|t|at|ves |r t||s c||ect|cr a|e.
Ycu| cc¤par] |s cre cl t|e l||st |eta||e|s tc |¤p|e¤ert B|c¤et||cs-uasec aut|ert|cat|cr |r stc|es. I||s ç|ves t|e uus|ress t|e au|||t] tc
ccrt|c| s|||r|açe u] ¤araç|rç /sscc|ates uette| cr t|e s|cp l|cc|. |¤p|e¤ertec |r ccrjurct|cr w|t| s¤a|t CCIVs at a|| stc|es, t|e|e |s a
¤easu|au|e |ecuct|cr |r t|elt arc p||le|açe.
/ |a|çe sca|e upç|ace cl t|e cc|e Ve|c|arc|se Varaçe¤ert S]ste¤ |as ueer urce|ta|er |r t||s ||rarc|a| ]ea|. I||s upç|ace w|||e
|eep|rç t|e c|çar|sat|cr up tc speec w|t| t|e |atest arc uest |r |eta|| tec|rc|cç] wcu|c p|cv|ce seve|a| uerel|ts |rc|uc|rç uut rct ||¤|tec
tc /utc Rep|er|s|¤ert arc /||ccat|cr, Wa|e|cuse Varaçe¤ert, Ve|c|arc|se setup, Data secu||t] etc. Ycu| cc¤par] |s a|sc |r t|e
p|ccess cl upç|ac|rç |ts l|rarc|a| acccurt|rç s]ste¤ tc ersu|e t|at we cc¤p|] w|t| ç|cua| uest p|act|ces |r /cccurt|rç ||ccesses.
Ycu| cc¤par] |as autc¤atec t|e Ba|arce Scc|e Ca|c t||cuç| 0|ac|e's |ecp|eSclt app||cat|cr tc lac|||tate a la|| arc t|arspa|ert app|a|sa|
s]ste¤ lc| a|| |ts asscc|ates. / se|l-se|v|ce ¤ccu|e lc| I|ave| arc E·perses |as ueer |¤p|e¤ertec tc ersu|e t|at p|ccesses a|e lu|t|e|
s|¤p||l|ec ¤a||rç ||le eas|e| lc| e¤p|c]ees. Vc|e vercc|s |ave ueer u|cuç|t urce| t|e RICS u¤u|e||a w||c| lac|||tates |ecucec ¤arua|
ellc|t, cu|c|e| pa]¤erts, arc uette| cas| ¤araçe¤ert. We ccrt|ruec |rvest¤erts |r t|e B2B s]ste¤ ÷ a cc||auc|at|ve s]ste¤ lc| cu|
vercc| cc¤¤ur|t] w||c| |e|ps t|e¤ p|ar ¤e|c|arc|se |ave ueer lu|t|e| st|erçt|erec t||s ]ea|.
|r c|ce| tc st|erçt|er t|e |rlc|¤at|cr secu||t], ]cu| cc¤par] |as ueer wc|||rç w|t| ç|cua| |rlc|¤at|cr secu||t] |eace|s tc upç|ace arc
er|arce t|e secu||t] cl a|| s]ste¤s. I|e cc¤par] t||s ]ea| a|sc |¤p|e¤ertec tcc|s l|c¤ |BV (uu||t cr B|ç||· tec|rc|cç]}, a sc|ut|cr t|at
u||rçs ell|c|erc] |r cetect|cr cl secu||t] vu|re|au|||t] arc |e¤ec|at|cr, |I cc¤p||arce |epc|t|rç, secu||t] patc| ¤araçe¤ert arc secu||t]
pc||c] erlc|ce¤ert cr a|| use| cc¤put|rç cev|ces.
6orporato ßovoroaoco:
Ycu| Cc¤par] |as ta|er steps tc ersu|e t|at t|e Cc|pc|ate Ccve|rarce çu|ce||res a|e accptec arc lu||] cc¤p||ec w|t|. I|e ceta||ec
Cc|pc|ate Ccve|rarce Repc|t |s attac|ec w|t| t||s |epc|t.
6aut|ooary 8tatomoot:
I|e state¤ert ¤ace |r t||s sect|cr cesc||ues t|e Cc¤par]'s cuject|ves, p|cject|crs, e·pectat|crs arc est|¤at|crs w||c| ¤a] ue
lc|wa|c |cc||rç state¤erts' w|t||r t|e ¤ear|rç cl app||cau|e secu||t|es |aws arc |eçu|at|crs. I|e arrua| |esu|ts car c|lle| ¤ate||a||]
l|c¤ t|cse e·p|essec c| |¤p||ec, ceperc|rç cr t|e eccrc¤|c arc c||¤at|c ccrc|t|crs, Ccve|r¤ert pc||c|es arc ct|e| |rc|certa| lactc|s
w||c| a|e ue]crc t|e ccrt|c| cl t|e Cc¤par].
Mauagemeut 0iscussiou aud Aua|ysis Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | c3
Ic t|e Ve¤ue|s cl S|cppe|s Stcp l|¤|tec
We |ave e·a¤|rec t|e cc¤p||arce cl ccrc|t|crs cl Cc|pc|ate Ccve|rarce u] S|cppe|s Stcp l|¤|tec ('t|e Cc¤par]'} lc| t|e ]ea| ercec
cr 31 Va|c|, 2011 as st|pu|atec |r C|ause 19 cl t|e l|st|rç /ç|ee¤ert cl t|e sa|c Cc¤par] w|t| t|e stcc| e·c|arçes |r |rc|a.
I|e cc¤p||arce cl ccrc|t|crs cl Cc|pc|ate Ccve|rarce |s t|e |espcrs|u|||t] cl t|e Varaçe¤ert. 0u| e·a¤|rat|cr was ||¤|tec tc p|ccecu|es
arc |¤p|e¤ertat|cr t|e|ecl, accptec u] t|e Cc¤par] lc| ersu||rç t|e cc¤p||arce cl t|e ccrc|t|crs cl Cc|pc|ate Ccve|rarce. |t |s re|t|e|
ar auc|t rc| ar e·p|ess|cr cl cp|r|cr cr t|e l|rarc|a| state¤erts cl t|e Cc¤par].
|r cu| cp|r|cr, arc tc t|e uest cl cu| |rlc|¤at|cr arc accc|c|rç tc t|e e·p|arat|crs ç|ver tc us, we ce|t|l] t|at t|e Cc¤par] |as cc¤p||ec
w|t| t|e ccrc|t|crs cl Cc|pc|ate Ccve|rarce as st|pu|atec |r t|e aucve¤ert|crec l|st|rç /ç|ee¤ert.
We lu|t|e| state t|at suc| cc¤p||arce |s re|t|e| ar assu|arce as tc t|e lutu|e v|au|||t] cl t|e Cc¤par] rc| t|e ell|c|erc] c| ellect|veress
w|t| w||c| t|e Varaçe¤ert |as ccrcuctec t|e alla||s cl t|e Cc¤par].
For ßo|o|tto hask|os 8 8o||s,
C|a|te|ec /cccurtarts
(Reç|st|at|cr |c. 1173ccW}
8hyamak ß. Iata
|a|tre|
Ve¤ue|s||p |c. 38320
||ace. Vu¤ua|
Date. 29 /p||| 2011
Certificate of Comp|iauce from Auditors as stipu|ated uuder C|ause 49
of the Listiug Agreemeut with the Stocl Exchauges iu ludia Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | c1
6ompaoy's ph||osophy oo 6odo oI ßovoroaoco
I|e Cc¤par] |e¤a|rs cc¤¤|ttec tc t|e ccrcept cl çccc cc|pc|ate çcve|rarce p|act|ces |r a|| |ts act|v|t|es tc ersu|e t|at t|e u|t|¤ate
çca| cl ¤a||rç t|e Cc¤par] a va|ue c||ver c|çar|sat|cr. |ts p|||cscp|] cr t|e ccce cl Cc|pc|ate Ccve|rarce |s.
º Ic ersu|e acecuate ccrt|c| s]ste¤s tc erau|e t|e Bca|c tc ell|c|ert|] ccrcuct t|e uus|ress arc c|sc|a|çe |ts |espcrs|u|||t|es tc
s|a|e|c|ce|s.
º Ic ersu|e t|at t|e cec|s|cr ¤a||rç p|ccess |s la|| arc t|arspa|ert.
º Ic ersu|e lu||est |rvc|ve¤ert arc cc¤¤|t¤ert cl t|e ¤araçe¤ert lc| ¤a·|¤|sat|cr cl s|a|e|c|ce|s va|ue.
º Ic |¤u|ue t|e cc|pc|ate va|ues |r t|e e¤p|c]ees arc erccu|açe t|e¤ |r t|e|| ccrcuct.
º Ic ersu|e t|at t|e Cc¤par] lc||cws t|e ç|cua||] |eccçr|sec cc|pc|ate çcve|rarce p|act|ces.
We |ave ¤ace ccrsc|cus ellc|ts tc |rst|tut|cra||se Cc|pc|ate Ccve|rarce p|act|ce arc we ue||eve t|at |t s|a|| çc ue]crc ac|e|erce tc
t|e |eçu|atc|] l|a¤ewc||. 0u| cc|pc|ate st|uctu|e, uus|ress arc c|sc|csu|e p|act|ces |ave ueer a||çrec tc cu| Cc|pc|ate Ccve|rarce
||||cscp|]. We w||| ccrt|rucus|] erceavcu| tc ta|e lc|wa|c t|e uest p|act|ces tc er|arce sta|e|c|ce|'s va|ue.
ßoard oI ß|roctors
I|e Bca|c cl D||ectc|s cc¤p||ses cl ter ¤e¤ue|s |rc|uc|rç cre e·ecut|ve c||ectc| arc r|re rcr-e·ecut|ve c||ectc|s. I|e Cc¤par] |as a
rcr-e·ecut|ve p|c¤cte| C|a||¤ar arc t|e ru¤ue| cl |rcepercert c||ectc|s |s cre |a|l cl t|e tcta| ru¤ue| cl D||ectc|s. I|e |rcepercert
c||ectc|s cr t|e Bca|c a|e p|cless|cra|s, tec|rcc|ats arc |eta|| e·pe|ts, w|c a|e ser|c|, cc¤petert arc ||ç||] |espectec pe|scrs l|c¤
t|e|| |espect|ve l|e|cs arc p|cv|ce st|ateç|c c||ect|cr arc t||ust tc t|e cpe|at|cr cl t|e Cc¤par].
I|e |e] cec|s|crs a|e ta|er alte| ceta||ec ce||ue|at|crs arc c|scuss|crs u] t|e Bca|c. I|e Cc¤par] a|wa]s ersu|es t|at Bca|c ¤e¤ue|s
a|e p|esertec w|t| a|| t|e |e|evart |rlc|¤at|cr cr v|ta| ¤atte|s allect|rç t|e wc|||rç cl t|e Cc¤par] |rc|uc|rç t|e |rlc|¤at|cr as |rte|a||a
spec|l|ec urce| /rre·u|e - |/ cl C|ause 19 cl t|e l|st|rç /ç|ee¤ert.
|cre cl t|e D||ectc|s cr t|e Bca|c |s a Ve¤ue| cr ¤c|e t|ar ter Cc¤¤|ttees arc C|a||¤ar cl ¤c|e t|ar l|ve Cc¤¤|ttees (as spec|l|ec
|r C|ause 19}, ac|css a|| t|e cc¤par|es |r w||c| t|e] a|e D||ectc|s.
I|e cc¤pcs|t|cr cl t|e Bca|c cl D||ectc|s, t|e|| attercarce at Bca|c Veet|rçs cu||rç t|e ]ea| arc at t|e |ast /rrua| Cere|a| Veet|rç
arc t|e ru¤ue| cl ct|e| D||ectc|s||ps arc Cc¤¤|ttee Ve¤ue|s||ps |e|c u] t|e¤ |r ct|e| Cc¤par|es a|e ç|ver ue|cw.
Namo oI ß|roctors 6atogory ßos|goat|oo Attoodaoco
part|cu|ars
No. oI othor ß|roctorsh|ps 8 6omm|ttoo
Momborsh|ps/6ha|rmaosh|ps
ßoard
Moot|ogs
Iast
AßM
ß|roctorsh|ps
1
6omm|ttoo
Momborsh|p
1 8 2
6omm|ttoo
6ha|rmaosh|p
1 8 2
V|. C|arc|u l.
Ra|eja
||c¤cte| c |cr-
E·ecut|ve D||ectc|
C|a||¤ar 1 Yes 1 1 0
V|. Rav| C.
Ra|eja
||c¤cte| c |cr-
E·ecut|ve D||ectc|
D||ectc| 5 Yes 5 1 1
V|. |ee| C.
Ra|eja
||c¤cte| c |cr-
E·ecut|ve D||ectc|
D||ectc| 5 Yes 1 1 0
V|. B. S. |açes| |cr-E·ecut|ve
D||ectc|
V|ce C|a||¤ar 5 Yes 3 1 0
V|. Cu|u l.
V||c|arcar|
|rcepercert c |cr-
E·ecut|ve D||ectc|
D||ectc| 5 |c 8 2 0
V|. S|a|taac S.
Da|a|
|rcepercert c |cr-
E·ecut|ve D||ectc|
D||ectc| 2 |c 12 7 1
||cl. ||t|r
Sarç|av|
|rcepercert c |cr-
E·ecut|ve D||ectc|
D||ectc| 1 Yes 1 1 0
V|. Deepa|
C|a|sas
|rcepercert c |cr-
E·ecut|ve D||ectc|
D||ectc| 5 Yes 3 1 2
V|. Ccv|rc
S|||||arce
E·ecut|ve D||ectc| Varaç|rç
D||ectc|
5 Yes 1 0 0
V|. |||v|| S|rç| |rcepercert c
|cr-E·ecut|ve
D||ectc|
D||ectc| 1 |c 0 0 0
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Notos:
1. I|e ct|e| D||ectc|s||ps arc C|a||¤ars||ps/Ve¤ue|s||ps cl cc¤¤|ttees |e|c |r lc|e|çr cc¤par|es, p||vate ||¤|tec cc¤par|es arc
cc¤par|es |rcc|pc|atec u/s 25 cl t|e Cc¤par|es /ct, 195c a|e e·c|ucec.
2. I|e C|a||¤ars||p arc Ve¤ue|s||p cl /uc|t Cc¤¤|ttee arc S|a|e|c|ce|s' C||evarce Cc¤¤|ttee a|cre a|e ccrs|ce|ec.
3. V|. Rav| C. Ra|eja arc V|. |ee| C. Ra|eja a|e scrs cl V|. C|arc|u. l. Ra|eja. |c ct|e| c||ectc| |s |e|atec tc ar] ct|e| c||ectc| cl t|e
Cc¤par].
1. V|. Ccv|rc S|||||arce was appc|rtec arc ces|çratec as 'Custc¤e| Ca|e /sscc|ate c Varaç|rç D||ectc|' cl t|e Cc¤par] w.e.l. 29t|
Ju|] 2010. Belc|e t||s appc|rt¤ert, V|. S|||||arce was ||es|cert c CE0 c E·ecut|ve D||ectc| cl t|e Cc¤par].
Du||rç t|e ]ea| urce| |ev|ew, t|e Bca|c cl D||ectc|s ¤et l|ve t|¤es |.e cr 28t| /p|||, 2010, 30t| Jure, 2010, 29t| Ju|], 2010,
29t| 0ctcue|, 2010 arc 21t| Jarua|], 2011. I|e ¤a·|¤u¤ |rte|va| uetweer ar] twc Veet|rçs cu||rç t||s pe||cc cces rct e·ceec
lcu| ¤crt|s.
Dates lc| t|e Bca|c Veet|rçs lc| t|e ersu|rç ]ea| a|e cec|cec we|| |r acvarce arc cc¤¤ur|catec tc t|e D||ectc|s. I|e /çerca
a|crç w|t| t|e e·p|aratc|] rctes a|e sert |r acvarce tc t|e D||ectc|s. /cc|t|cra| ¤eet|rçs cl t|e Bca|c a|e |e|c w|er cee¤ec
recessa|] u] t|e Bca|c.
I|e Cc¤par] |as accptec t|e Ccce cl Ccrcuct lc| a|| Bca|c ¤e¤ue|s arc ¤araçe¤ert pe|scrre|s cl t|e Cc¤par]. I||s Ccce |s
pcstec cr t|e weus|te cl t|e Cc¤par]. /|| Bca|c ¤e¤ue|s arc ¤araçe¤ert pe|scrre|s |ave ccrl||¤ec cc¤p||arce tc t|e Ccce
cl Ccrcuct. / cec|a|at|cr s|çrec u] t|e Varaç|rç D||ectc| cl t|e Cc¤par] tc t||s ellect |s appercec w|t| t|e Repc|t.
Aud|t 6omm|ttoo
I|e Cc¤par] |as ccrst|tutec ar /uc|t Cc¤¤|ttee |r t|e ]ea| 2001. I|e |c|e, pcwe|s arc lurct|crs cl t|e /uc|t cc¤¤|ttee |s |r
accc|carce w|t| C|ause 19 cl t|e l|st|rç /ç|ee¤ert arc Sect|cr 292/ cl t|e Cc¤par|es /ct, 195c.
I|e /uc|t Cc¤¤|ttee cc¤p||ses cl lcu| |cr-E·ecut|ve D||ectc|s. I|e ¤e¤ue|s cl t|e Cc¤¤|ttee pcssess t|e scurc |rcw|ecçe cl
l|rarce c acccurts. I|e /uc|t Cc¤¤|ttee |rv|tes suc| cl t|e e·ecut|ves, as |t ccrs|ce|s app|cp||ate tc ue p|esert at t|e ¤eet|rçs
cl t|e Cc¤¤|ttee. I|e Varaç|rç D||ectc|, V|ce C|a||¤ar, C|cup C||el ||rarc|a| 0ll|ce|, Cc¤par] Sec|eta|], |ep|esertat|ves cl t|e
|rte|ra| auc|tc|s arc statutc|] auc|tc|s a|e a|sc p|esert at t|e /uc|t Cc¤¤|ttee Veet|rçs as |rv|tees.
Du||rç t|e ]ea| urce| |ev|ew, t|e Cc¤¤|ttee ¤et lcu| t|¤es cr 28t| /p|||, 2010, 28t| Ju|], 2010, 2ct| 0ctcue|, 2010 arc
21t| Jarua|], 2011.
I|e Cc¤pcs|t|cr cl t|e /uc|t Cc¤¤|ttee arc t|e attercarce cl t|e ¤e¤ue|s at t|e ¤eet|rçs |e|c a|e as lc||cws.
Namo oI Mombor 8tatus 6atogory No. oI moot|ogs attoodod
V|. Deepa| C|a|sas C|a||¤ar |rcepercert D||ectc| 1
V|. Rav| C. Ra|eja Ve¤ue| |cr-|rcepercert D||ectc| 1
V|. S|a|taac S. Da|a| Ve¤ue| |rcepercert D||ectc| 2
||cl. ||t|r Sarç|av| Ve¤ue| |rcepercert D||ectc| 1
V|. ||as|art Ve|ta, V|ce ||es|cert ÷ leça| arc Cc¤par] Sec|eta|] cl t|e Cc¤par] acts as t|e Sec|eta|] tc t|e Cc¤¤|ttee.
I|e u|cac te|¤s cl |ele|erce cl t|e /uc|t Cc¤¤|ttee |rte|-a||a |s as urce|.
1. Ic cve|see t|e Cc¤par]'s l|rarc|a| |epc|t|rç p|ccess arc t|e c|sc|csu|e cl |ts l|rarc|a| |rlc|¤at|cr, tc ersu|e t|at t|e l|rarc|a|
state¤ert |s cc||ect, sull|c|ert arc c|ec|u|e.
2. Ic |ecc¤¤erc tc t|e Bca|c, t|e appc|rt¤ert arc |e-appc|rt¤ert cl Statutc|] /uc|tc|s, l|·at|cr cl auc|t lees arc a|sc app|cva| lc|
pa]¤ert cl ar] ct|e| se|v|ces.
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3. Ic |ev|ew w|t| t|e ¤araçe¤ert, t|e arrua| l|rarc|a| state¤erts uelc|e suu¤|ss|cr tc t|e uca|c lc| app|cva|, w|t| pa|t|cu|a|
|ele|erce tc.
a} Vatte|s |ecu||ec tc ue |rc|ucec |r t|e D||ectc|'s Respcrs|u|||t] State¤ert tc ue |rc|ucec |r t|e Bca|c's |epc|t |r te|¤s cl C|ause
(2//} cl Sect|cr 217 cl t|e Cc¤par|es /ct, 195c.
u} C|arçes, |l ar], |r acccurt|rç pc||c|es arc p|act|ces arc |eascrs lc| t|e sa¤e.
c} Vajc| acccurt|rç ert||es |rvc|v|rç est|¤ates uasec cr t|e e·e|c|se cl jucçe¤ert u] ¤araçe¤ert.
c} S|çr|l|cart acjust¤erts ¤ace |r t|e l|rarc|a| state¤erts a||s|rç cut cl auc|t l|rc|rçs.
e} Cc¤p||arce w|t| ||st|rç arc ct|e| |eça| |ecu||e¤erts |e|at|rç tc l|rarc|a| state¤erts.
l} D|sc|csu|e cl |e|atec pa|t] t|arsact|crs.
ç} 0ua||l|cat|crs |r t|e c|alt auc|t |epc|t.
1. Ic |ev|ew w|t| t|e ¤araçe¤ert, t|e cua|te||] l|rarc|a| state¤erts uelc|e suu¤|ss|cr tc t|e Bca|c lc| app|cva|.
5. Ic |ev|ew w|t| t|e ¤araçe¤ert, pe|lc|¤arce cl statutc|] arc |rte|ra| auc|tc|s arc acecuac] cl t|e |rte|ra| ccrt|c| s]ste¤s.
c. Rev|ew|rç, w|t| t|e ¤araçe¤ert, t|e state¤ert cl uses/app||cat|cr cl lurcs |a|sec t||cuç| ar |ssue (puu||c |ssue, ||ç|ts |ssue,
p|ele|ert|a| |ssue, etc.} t|e state¤ert cl lurcs ut|||sec lc| pu|pcses ct|e| t|ar t|cse statec |r t|e clle| cccu¤ert c| p|cspectus arc
¤a||rç app|cp||ate |ecc¤¤ercat|crs tc t|e Bca|c tc ta|e up steps |r t||s ¤atte|.
7. Ic |ev|ew t|e acecuac] cl |rte|ra| auc|t lurct|cr, |rc|uc|rç t|e st|uctu|e cl t|e |rte|ra| auc|t cepa|t¤ert, stall|rç cl t|e cepa|t¤ert,
|epc|t|rç st|uctu|e ccve|açe arc l|ecuerc] cl |rte|ra| auc|t.
8. D|scuss|cr w|t| |rte|ra| auc|tc|s ar] s|çr|l|cart l|rc|rçs arc lc||cw up t|e|e cr.
9. Rev|ew|rç t|e l|rc|rçs cl ar] |rte|ra| |rvest|çat|crs u] t|e |rte|ra| auc|tc|s |rtc ¤atte|s w|e|e t|e|e |s suspectec l|auc c| |||eçu|a||t]
c| a la||u|e cl |rte|ra| ccrt|c| s]ste¤s cl a ¤ate||a| ratu|e arc |epc|t|rç t|e ¤atte| tc t|e Bca|c.
10. D|scuss|cr w|t| statutc|] auc|tc|s uelc|e t|e auc|t cc¤¤erces, aucut t|e ratu|e arc sccpe cl auc|t as we|| as pcst-auc|t c|scuss|cr
tc asce|ta|r ar] a|ea cl ccrce|r.
11. Ic |ev|ew t|e lurct|cr|rç cl t|e W||st|e B|cwe| ¤ec|ar|s¤.
12. Ca||]|rç cut ar] ct|e| lurct|cr as ¤a] ue accec tc t|e te|¤s cl |ele|erce cl t|e /uc|t Cc¤¤|ttee.
6ompoosat|oo/ßomuoorat|oo 6omm|ttoo
I|e Cc¤par] |as ccrst|tutec Cc¤persat|cr/Re¤ure|at|cr Cc¤¤|ttee |r t|e ]ea| 2001. I|e sccpe cl t|e act|v|t|es cl t|e
Cc¤persat|cr/Re¤ure|at|cr Cc¤¤|ttee |s tc |ecc¤¤erc t|e |e¤ure|at|cr pa]au|e tc t|e E·ecut|ve D||ectc| cl t|e Cc¤par],
pa]¤ert cl cc¤¤|ss|cr arc s|tt|rç lees tc |cr-E·ecut|ve D||ectc|s arc lc|¤u|at|cr arc |¤p|e¤ertat|cr cl va||cus E¤p|c]ee
Stcc| 0pt|cr ||ars (ES0|} Sc|e¤es |r t|e Cc¤par].
Du||rç t|e ]ea|, t|e Cc¤¤|ttee ¤et ter t|¤es |.e. cr 28t| /p|||, 2010, 29t| Ju|], 2010 (9.30 a.¤.}, 29t| Ju|], 2010 (1.30 p.¤.},
13t| /uçust, 2010, 23|c Septe¤ue|, 2010, 29t| 0ctcue|, 2010, 13t| Dece¤ue|, 2010, 21t| Jarua|], 2011, 21st |eu|ua|], 2011
arc 25t| Va|c|, 2011.
I|e Cc¤pcs|t|cr cl t|e Cc¤¤|ttee arc t|e attercarce cl t|e ¤e¤ue|s at t|e ¤eet|rçs |e|c a|e as lc||cws.
Namo oI Mombor 8tatus No. oI moot|ogs attoodod
V|. C. l. V||c|arcar| C|a||¤ar 9
V|. Rav| C. Ra|eja Ve¤ue| 10
V|. S|a|taac S. Da|a| Ve¤ue| c
||cl. ||t|r Sarç|av| Ve¤ue| 9
Corporate 6overuauce Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | c7
ßomuoorat|oo Fo||cy
1. I|e |e¤ure|at|cr cl t|e E·ecut|ve D||ectc| |s |ecc¤¤ercec u] t|e Cc¤persat|cr/Re¤ure|at|cr Cc¤¤|ttee uasec cr c||te||a suc|
as |rcust|] uerc|¤a||s, t|e Cc¤par]'s pe|lc|¤arce v|s-a-v|s t|e |rcust|], |espcrs|u|||t|es s|cu|ce|ec, pe|lc|¤arce/t|ac| |ecc|c,
¤ac|c eccrc¤|c |ev|ew cr |e¤ure|at|cr pac|açes cl |eacs cl ct|e| c|çar|sat|crs arc |s cec|cec u] t|e Bca|c cl D||ectc|s. I|e
Cc¤par] pa]s |e¤ure|at|cr u] wa] cl sa|a|], pe|cu|s|tes, a||cwarces arc p|cl|t ||r|ec |ewa|c sc|e¤e tc |ts E·ecut|ve D||ectc|.
/rrua| |rc|e¤erts a|e cec|cec u] t|e Cc¤persat|cr/Re¤ure|at|cr Cc¤¤|ttee w|t||r t|e sa|a|] app|cvec u] ¤e¤ue|s arc a|e
rc|¤a||] ellect|ve l|c¤ /p||| 1, arrua||].
2. I|e Cc¤par] pa]s s|tt|rç lees cl 20,000/- tc |ts |cr-E·ecut|ve D||ectc|s lc| atterc|rç eac| Bca|c cl D||ectc|s ¤eet|rç.
3. I|e ¤e¤ue|s cl t|e Cc¤par] at t|e ||rt| /rrua| Cere|a| Veet|rç |ac app|cvec t|e pa]¤ert arc c|st||uut|cr cl su¤ rct e·ceec|rç
1º cl t|e ret p|cl|ts cl t|e Cc¤par] ca|cu|atec |r accc|carce w|t| t|e p|cv|s|crs cl Sect|crs 198, 319 arc 350 cl t|e Cc¤par|es
/ct, 195c u] wa] cl cc¤¤|ss|cr tc |cr-E·ecut|ve D||ectc|s. |t |s rcw p|cpcsec tc |erew t|e |esc|ut|cr aut|c||s|rç t|e pa]¤ert
arc c|st||uut|cr cl sa|c cc¤¤|ss|cr lc| a lu|t|e| pe||cc cl 5 (l|ve} ]ea|s tc |cr-E·ecut|ve D||ectc|s, cc¤¤erc|rç l|c¤ /p||| 1, 2011,
suuject tc t|e |ecu|s|te app|cva| cl s|a|e|c|ce|s at t|e ersu|rç /rrua| Cere|a| Veet|rç cl t|e Cc¤par].
Deta||s cl cc¤persat|cr pa|c/pa]au|e tc |cr-E·ecut|ve D||ectc|s cu||rç t|e ]ea| a|e as urce|.
Namo oI ß|roctors 6omm|ss|oo ( } 8|tt|og Foos ( } Iota| ( }
V|. C|arc|u l. Ra|eja 0 80,000 80,000
V|. Rav| C. Ra|eja 0 100,000 100,000
V|. |ee| C. Ra|eja 0 100,000 100,000
V|. B. S. |açes| 300,000 100,000 100,000
V|. Cu|u l. V||c|arcar| 300,000 100,000 100,000
V|. S|a|taac S. Da|a| 300,000 10,000 310,000
||cl. ||t|r Sarç|av| 300,000 80,000 380,000
V|. Deepa| C|a|sas c00,000 100,000 700,000
V|. |||v|| S|rç| 300,000 80,000 380,000
Iota| 2,100,000 780,000 2,880,000
Deta||s cl |e¤ure|at|cr pa|c tc V|. Ccv|rc S|||||arce, Varaç|rç D||ectc| lc| t|e l|rarc|a| ]ea| 2010-2011 |s as urce|.
8a|ary aod ßoous ( } Forqu|s|tos
( }
6ootr|but|oo to Frov|doot
Fuod ( }
Iota|
( }
32,953,050 c21,500 1,29c,000 31,870,550
Corporate 6overuauce Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | c8
E80Fs
Deta||s cl ç|art cl stcc| cpt|crs tc arc e·e|c|se cl stcc| cpt|crs u] V|. B. S. |açes|, V|ce C|a||¤ar urce| t|e lc||cw|rç ES0|
Sc|e¤es |s as urce|.
8chomo ßato oI
ßraot
0pt|oos
ßraotod*
0pt|oos vostod
aod oxorc|sod*
ßraot pr|co por
oqu|ty sharo* ( }
Fa|r va|uo oo tho
dato oI graot* ( }
vost|og por|od
ES0|-||| 01.05.01 15,120 15,120 75 90.5 3 ]ea|s
ES0|-|V 01.02.05 27,9c0 27,9c0 120 121 39 ¤crt|s
ES0|-V-1 28.12.05 22,70c 13,c20 192 211.5 3 ]ea|s
ES0| 2008-1 29.01.09 100,000 0 55 55 38 ¤crt|s
Deta||s cl ç|art cl stcc| cpt|crs tc arc e·e|c|se cl stcc| cpt|crs u] V|. Ccv|rc S|||||arce, Varaç|rç D||ectc| urce| t|e lc||cw|rç ES0|
Sc|e¤es |s as urce|.
8chomo ßato oI
ßraot
0pt|oos
ßraotod*
0pt|oos vostod
aod oxorc|sod*
ßraot pr|co por
oqu|ty sharo* ( }
Fa|r va|uo oo tho
dato oI graot* ( }
vost|og por|od
ES0|-||| 01.05.01 18,1c0 18,1c0 75 90.5 3 ]ea|s
ES0|-|V 01.02.05 11,510 11,510 120 121 39 ¤crt|s
ES0|-V-1 28.12.05 10,c12 10,c12 192 211.5 3 ]ea|s
ES0| 2008-1 29.01.09 2c0,000 78,000 55 55 38 ¤crt|s
ES0| 2008-2 21.03.10 21,000 7,200 191 191 3 ]ea|s
'I|e ru¤ue| cl cpt|crs, ç|art p||ce pe| s|a|e arc la|| va|ue |as ueer acjustec tc |el|ect t|e suu-c|v|s|cr cl ecu|t] s|a|e cl
10/- eac| |rtc twc ecu|t] s|a|es cl 5/- eac|.
8orv|co 6ootract, sovoraoco Ioos aod oot|co por|od
Mr. ßov|od 8hr|khaodo, Maoag|og ß|roctor:
|e||cc cl ccrt|act |s 3 ]ea|s w.e.l. 29 Ju|], 2010. I|e|e |s rc sepa|ate p|cv|s|cr lc| pa]¤ert cl ar] seve|arce lees.
8haroho|dors' Iovostor ßr|ovaoco aod 8haro IraosIor 6omm|ttoo
I|e Cc¤par] |as ccrst|tutec t|e Cc¤¤|ttee |r t|e ]ea| 2001. I|e Cc¤¤|ttee |cc|s |rtc |ec|essa| cl s|a|e|c|ce|s' ç||evarces.
I|e Cc¤¤|ttee a|sc cve|sees t|e pe|lc|¤arce cl t|e Reç|st|a| arc S|a|e I|arsle| /çerts arc |ecc¤¤ercs ¤easu|es lc| cve|a||
|¤p|cve¤ert |r t|e cua||t] cl |rvestc| se|v|ces.
Du||rç t|e ]ea| 2010-11, t|e Cc¤¤|ttee ¤et t||ee t|¤es |.e. cr 7t| Va], 2010, 11t| Jure, 2010 arc 10t| Jarua|], 2011.
I|e Cc¤pcs|t|cr cl t|e Cc¤¤|ttee arc t|e attercarce cl t|e ¤e¤ue|s at t|e ¤eet|rç |e|c |s as lc||cws.
Namo oI Mombor 8tatus No. oI moot|ogs attoodod
V|. Rav| C. Ra|eja C|a||¤ar 2
V|. |ee| C. Ra|eja Ve¤ue| 2
V|. B. S. |açes| Ve¤ue| 3
V|. ||as|art Ve|ta, V|ce ||es|cert ÷ leça| c Cc¤par] Sec|eta|] cl t|e Cc¤par] |as ueer ces|çratec as t|e Cc¤p||arce 0ll|ce|.
Du||rç t|e ]ea|, t|e Cc¤par] |as |ece|vec 8 (e|ç|t} Cc¤¤ur|cat|cr/ç||evarce, w||c| we|e attercec arc |esc|vec tc t|e sat|slact|cr cl
t|e S|a|e|c|ce|s. |c ç||evarces we|e perc|rç at t|e ]ea| erc.
Corporate 6overuauce Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | c9
8ubs|d|ary 6ompao|os
Du||rç t|e ]ea|, |]pe|c|t] Reta|| (|rc|a} l|¤|tec ueca¤e cu| suus|c|a|] w.e.l. Jure 30, 2010. V|. Deepa| C|a|sas arc V|. ||t|r Sarç|av|,
|rcepercert c |cr-E·ecut|ve D||ectc|s cl t|e Cc¤par] a|e a|sc t|e D||ectc|s cl |]pe|c|t] Reta|| (|rc|a} l|¤|tec.
C|ause 19 cl Cc|pc|ate Ccve|rarce cel|res a '¤ate||a| rcr-||stec |rc|ar suus|c|a|]' as ar ur||stec suus|c|a|], |rcc|pc|atec |r |rc|a, w|cse
tu|rcve| c| ret wc|t| (|.e. pa|c-up cap|ta| arc l|ee |ese|ves} e·ceecs 20º cl t|e ccrsc||catec tu|rcve| c| ret wc|t| |espect|ve|], cl t|e
||stec |c|c|rç cc¤par] arc |ts suus|c|a||es |r t|e |¤¤ec|ate|] p|ecec|rç acccurt|rç ]ea|. |r t||s |eça|c, t|e Cc¤par] cces rct |ave ar]
¤ate||a| rcr-||stec |rc|ar suus|c|a|].
I|e Bca|c cl D||ectc|s cl t|e Cc¤par] |ev|ews eve|] cua|te| t|e l|rarc|a| state¤erts arc ¤|rutes cl Bca|c Veet|rçs cl ur||stec
suus|c|a|] cc¤par|es.
ßooora| ßody Moot|ogs
Deta||s cl /rrua| Cere|a| Veet|rçs |e|c cu||rç |ast t||ee ]ea|s.
AßM Ior
F|oaoc|a| ¥oar
oodod
ßato I|mo Iocat|oo 8poc|a| ßoso|ut|oos
passod thoroat
2009-2010 29 Ju|] 2010 3.00 p.¤. |at|cra| Stcc| E·c|arçe cl
|rc|a ltc., E·c|arçe ||ata, |SE
/uc|tc||u¤, C|curc ||cc|, Barc|a
Ku||a Cc¤p|e·, Barc|a (E},
Vu¤ua| - 100 051.
|c spec|a| |esc|ut|cr |as ueer passec.
2008-2009 29 Ju|] 2009 2.30 p.¤. R. D. |at|cra| Cc||eçe c
W. /. Sc|erce Cc||eçe,
(Cc||eçe /uc|tc||u¤},
l|r||rç Rcac, Barc|a (West},
Vu¤ua| - 100 050.
|c spec|a| |esc|ut|cr |as ueer passec.
2007-2008 29 Ju|] 2008 2.30 p.¤. R. D. |at|cra| Cc||eçe c
W. /. Sc|erce Cc||eçe,
(Cc||eçe /uc|tc||u¤},
l|r||rç Rcac, Barc|a (West},
Vu¤ua| - 100 050.
º /ppc|rt¤ert cl V|. Ccv|rc S|||||arce
as W|c|e-t|¤e D||ectc| lc| a pe||cc cl
3 ]ea|s w.e.l. Ju|] 29, 2009.
º E¤p|c]ee Stcc| 0pt|cr Sc|e¤e ÷
ES0|s tc e¤p|c]ees cl Cc¤par] arc
Suus|c|a||es.
º Vcc|l|cat|cr tc ea|||e| ES0|
Sc|e¤es.
º Rat|l|cat|cr cl R|ç|t |ssue cl s|a|es.
Fosta| ßa||ot
/s pe| Sect|cr 192/ cl t|e Cc¤par|es /ct, 195c cu||rç t|e ]ea| 2010-11, t|e lc||cw|rç spec|a| |esc|ut|crs we|e passec u] ¤e¤ue|s
t||cuç| pcsta| ua||ct cr Jure 21, 2010, 0ctcue| 27, 2010 arc Dece¤ue| 23, 2010. Deta||s cl t|e pcsta| ua||ct p|ccess lc||cwec |r
t|ese |eça|c a|e as urce|.
1. ßosu|ts oI Fosta| ßa||ot aooouocod oo Juoo 21, 2010.
/pp|cva| cl ¤e¤ue|s was scuç|t lc| lc||cw|rç Spec|a| Resc|ut|crs.
1. Va||rç |rvest¤ert |r secu||t|es u] suusc||pt|cr/pu|c|ase c| ct|e|w|se /|cars c| acvarces/çua|artee/secu||t](|es} etc. |r
|]pe|c|t] Reta|| (|rc|a} ltc, uptc ar e·tert cl 200 C|c|es urce| Sect|cr 372/ cl t|e Cc¤par|es /ct, 195c,
Corporate 6overuauce Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 70
2. Ic |arccve| arc c|spcse cll 'C|csswc|c' uus|ress tc C|csswc|c Bcc|stc|es l|¤|tec, a w|c||]-cwrec suus|c|a|] cl t|e Cc¤par]
urce| Sect|cr 293 (1}(a} cl t|e Cc¤par|es /ct, 195c, arc
3. Ic ce|ete t|e e·|st|rç /|t|c|e 150 ÷ 'Cc¤¤cr Sea|' cl t|e /|t|c|es cl /sscc|at|cr cl t|e Cc¤par] arc suust|tut|rç |t w|t| a rew
/|t|c|e urce| Sect|cr 31 cl t|e Cc¤par|es /ct, 195c,
vot|og Fattoro aod Frocoduro Ior Fosta| ßa||ot
1. I|e Bca|c cl D||ectc|s cl t|e Cc¤par] at |ts ¤eet|rç |e|c cr /p||| 28, 2010 appc|rtec V|. V. Surca|a¤, ||act|s|rç Cc¤par]
Sec|eta|] as a Sc|ut|r|te| lc| ccrcuct|rç t|e vct|rç t|cuç| |csta| Ba||ct.
2. /|| pcsta| ua||ct lc|¤s |ece|vec uptc Jure 19, 2010, t|e |ast cate lc| |ece|v|rç t|e pcsta| ua||ct lc|¤s l|c¤ s|a|e|c|ce|s we|e
ccrs|ce|ec lc| sc|ut|r]. Erve|cpes |ece|vec alte| t||s cate was rct ccrs|ce|ec lc| sc|ut|r].
3. I|e |esu|ts cl t|e |csta| Ba||ct was arrcurcec cr Jure 21, 2010 at t|e Reç|ste|ec 0ll|ce cl t|e Cc¤par]. I|e ceta||s cl vct|rç
a|e as lc||cws.
Fart|cu|ars
Io Iavour Aga|ost
Iota| No. oI
8haros
No. oI
Fosta| ßa||ot
Forms
No. oI
votos |o
Favour oI
%
No. oI
Fosta| ßa||ot
Forms
No. oI
votos
Aga|ost
%
Resc|ut|cr |c.1 239 30,383,302 99.98 9 133 0.02 30,383,735
Resc|ut|cr |c.2 238 30,383,339 99.98 10 39c 0.02 30,383,735
Resc|ut|cr |c.3 211 30,383,1c7 99.98 7 2c8 0.02 30,383,735
2. ßosu|ts oI Fosta| ßa||ot aooouocod oo 0ctobor 27, 2010.
/pp|cva| cl ¤e¤ue|s was scuç|t lc| lc||cw|rç Spec|a| Resc|ut|crs.
1. Ic appc|rt V|. Ccv|rc S|||||arce as a Varaç|rç D||ectc| cl t|e Cc¤par] ces|çratec as ' Custc¤e| Ca|e /sscc|ate c Varaç|rç
D||ectc| lc| a pe||cc 3 (t||ee} ]ea|s cc¤¤erc|rç l|c¤ Ju|] 29, 2010, arc
2. Ic c|arçe t|e ra¤e cl t|e Cc¤par] l|c¤ 'S|cppe|'s Stcp l|¤|tec' tc 'S|cppe|s Stcp l|¤|tec'.
vot|og Fattoro aod Frocoduro Ior Fosta| ßa||ot:
1. I|e Bca|c cl D||ectc|s cl t|e Cc¤par] at |ts ¤eet|rç |e|c cr Ju|] 29, 2010 appc|rtec V|. V. Surca|a¤, ||act|s|rç Cc¤par]
Sec|eta|] as a Sc|ut|r|te| lc| ccrcuct|rç t|e vct|rç t|cuç| |csta| Ba||ct.
2. /|| pcsta| ua||ct lc|¤s |ece|vec uptc 0ctcue| 2c, 2010, t|e |ast cate lc| |ece|v|rç t|e pcsta| ua||ct lc|¤s l|c¤ s|a|e|c|ce|s
we|e ccrs|ce|ec lc| sc|ut|r]. Erve|cpes |ece|vec alte| t||s cate we|e rct ccrs|ce|ec lc| sc|ut|r].
3. I|e |esu|ts cl t|e |csta| Ba||ct was arrcurcec cr 0ctcue| 27, 2010 at t|e Reç|ste|ec 0ll|ce cl t|e Cc¤par]. I|e ceta||s cl
vct|rç a|e as lc||cws.
Fart|cu|ars
Io Iavour Aga|ost
Iota| No.
oI 8haros
No. oI
Fosta| ßa||ot
Forms
No. oI
votos
%
No. oI
Fosta| ßa||ot
Forms
No. oI
votos
%
Resc|ut|cr |c. 1 170 31,120,315 100.00 1 3 ÷ 31,120,318
Resc|ut|cr |c. 2 1c8 31,120,2cc 100.00 3 52 ÷ 31,120,318
Corporate 6overuauce Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 71
3. ßosu|ts oI Fosta| ßa||ot aooouocod oo ßocombor 23, 2010.
/pp|cva| cl ¤e¤ue|s was scuç|t lc| lc||cw|rç Spec|a| Resc|ut|crs.
1. Ic app|cve suu-c|v|s|cr cl ecu|t] s|a|es cl lace va|ue cl 10/- eac| |rtc twc ecu|t] s|a|es cl 5/- eac|, arc
2. Ic a¤erc C|ause V cl t|e Ve¤c|arcu¤ cl /sscc|at|cr cl t|e Cc¤par] ccrsecuert tc alc|esa|c suu-c|v|s|cr.
vot|og Fattoro aod Frocoduro Ior Fosta| ßa||ot:
1. I|e Bca|c cl D||ectc|s cl t|e Cc¤par] at |ts ¤eet|rç |e|c cr 0ctcue| 29, 2010 appc|rtec V|. V. Surca|a¤, ||act|s|rç Cc¤par]
Sec|eta|] as a Sc|ut|r|te| lc| ccrcuct|rç t|e vct|rç t|cuç| |csta| Ba||ct.
2. /|| pcsta| ua||ct lc|¤s |ece|vec uptc Dece¤ue| 22, 2010, t|e |ast cate lc| |ece|v|rç t|e pcsta| ua||ct lc|¤s l|c¤ s|a|e|c|ce|s
we|e ccrs|ce|ec lc| sc|ut|r]. Erve|cpes |ece|vec alte| t||s cate we|e rct ccrs|ce|ec lc| sc|ut|r].
3. I|e |esu|ts cl t|e |csta| Ba||ct was arrcurcec cr Dece¤ue| 23, 2010 at t|e Reç|ste|ec 0ll|ce cl t|e Cc¤par]. I|e ceta||s cl
vct|rç a|e as lc||cws.
Fart|cu|ars
Io Iavour Aga|ost
Iota| No.
oI 8haros
No. oI
Fosta| ßa||ot
Forms
No. oI
votos
%
No. oI
Fosta| ßa||ot
Forms
No. oI
votos
%
Resc|ut|cr |c. 1 285 3c,12c,725 99.99 7 151 ÷ 3c,12c,87c
Resc|ut|cr |c. 2 283 3c,12c,cc5 99.99 9 211 ÷ 3c,12c,87c
4. Ihoro |s oo spoc|a| roso|ut|oo proposod to bo passod through Fosta| ßa||ot.
ß|sc|osuro oo mator|a||y s|go|I|caot ro|atod party traosact|oos
I|e|e we|e rc ¤ate||a||] |e|atec pa|t] t|arsact|crs t|at ¤a] |ave pctert|a| ccrl||ct w|t| t|e |rte|est cl t|e Cc¤par] at |a|çe. I|e
t|arsact|crs uetweer t|e Cc¤par] arc t|e |e|atec pa|t|es a|e c|sc|csec |r |ctes tc t|e /cccurts |r t|e /rrua| Repc|t.
ß|sc|osuro oI Accouot|og Iroatmoot
I|e l|rarc|a| state¤erts cl t|e Cc¤par] cc¤p|] w|t| t|e /cccurt|rç Starca|cs |ele||ec tc |r Sect|cr 211(3C} cl t|e Cc¤par|es
/ct, 195c.
ßoard ß|sc|osuros - ß|sk Maoagomoot
I|e Cc¤par] |as |a|c ccwr t|e |ecu|s|te p|ccecu|es tc |rlc|¤ t|e Bca|c Ve¤ue|s aucut t|e ||s| assess¤ert arc ¤|r|¤|sat|cr
p|ccecu|es w||c| a|e accc|c|rç|] lc||cwec.
ßota||s oI ooo-comp||aoco oo mattors ro|at|og to 6ap|ta| Markot
I|e|e |ave ueer rc |rstarces cl rcr-cc¤p||arces u] us arc rc pera|t|es arc/c| st||ctu|es |ave ueer |¤pcsec cr t|e Cc¤par] u] Stcc|
E·c|arçes c| SEB| c| ar] statutc|] aut|c||t] cr ar] ¤atte| |e|atec tc t|e cap|ta| ¤a||ets cu||rç t|e |ast t||ee ]ea|s.
6odo oI cooduct Ior Frovoot|oo oI Ios|dor Irad|og Fract|cos
|r cc¤p||arce w|t| t|e SEB| (||c||u|t|cr cl |rs|ce| I|ac|rç} Reçu|at|crs, 1992, as a¤ercec, t|e Cc¤par] |as lc|¤u|atec, accptec arc
|¤p|e¤ertec 'S|cppe|s Stcp Ccce cl ccrcuct lc| p|evert|cr cl |rs|ce| I|ac|rç' |r t|e s|a|es cl t|e Cc¤par].
Wh|st|o ß|owor Fo||cy
I|e W||st|e B|cwe| |c||c] a|¤s tc erccu|açe a|| e¤p|c]ees tc |rlc|¤ t|e Cc¤par] |eça|c|rç ar] ||rc cl ¤|suse cl Cc¤par] p|cpe|t],
¤|s¤araçe¤ert c| w|crçlu| ccrcuct p|eva|||rç |r t|e Cc¤par] arc rc pe|scrre| |as ueer cer|ec access t|e|etc. I|e c|sc|csu|e wcu|c
Corporate 6overuauce Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 72
ue sert tc t|e C|a||¤ar cl t|e /uc|t Cc¤¤|ttee/t|e Et||cs Ccurse|c| w|c wcu|c |rvest|çate arc |ecc¤¤erc tc t|e ¤araçe¤ert cl t|e
Cc¤par] tc ta|e suc| c|sc|p||ra|] c| cc||ect|ve act|cr as ¤a] ue cee¤ec l|t.
6omp||aoco w|th ooo-maodatory roqu|romoots oI 6|auso 49 oI tho ||st|og agroomoot.
I|e Cc¤par] |as vc|urta|||] cc¤p||ec w|t| t|e rcr-¤arcatc|] |ecu||e¤erts |e|at|rç tc Re¤ure|at|cr Cc¤¤|ttee arc w||st|e
u|cwe| pc||c].
Maoagomoot ß|scuss|oo aod Aoa|ys|s
Varaçe¤ert D|scuss|cr arc /ra|]s|s |s ç|ver as a sepa|ate sect|cr |r t|e /rrua| Repc|t.
Frocoods Irom pub||c |ssuos
I|e Cc¤par] |as c|sc|csec t|e uses arc app||cat|cr cl lurcs |a|sec t||cuç| a puu||c |ssue tc t|e /uc|t Cc¤¤|ttee cr a cua|te||] uas|s
as a pa|t cl t|e|| cua|te||] cec|a|at|cr cl l|rarc|a| |esu|ts.
Moaos oI 6ommuo|cat|oo
º I|e cua|te||] |esu|ts a|e puu||s|ec w|t||r 18 |cu|s cl t|e Bca|c Veet|rç, |r p|c¤|rert ca||] rewspape|s v|t. Eccrc¤|c I|¤es arc
Va|a|as|t|a I|¤es arc t|e sa¤e a|e a|sc pcstec cr t|e Cc¤par]'s weus|te |¤¤ec|ate|]. /t t|e erc cl eac| cua|te|, t|e Cc¤par]
cces a Ccrle|erce ca|| w|t| t|e ara|]sts |r c|ce| tc c|a||l] t|e|| ccuuts arc cue||es.
º I|e cc¤a|r ra¤e cl t|e Cc¤par]'s weus|te |s www.s|cppe|sstcp.cc¤ arc uptc cate l|rarc|a| |esu|ts, cll|c|a| p|ess |e|eases arc
t|e ct|e| |rlc|¤at|cr aucut t|e Cc¤par] arc |ts uus|resses a|e ava||au|e cr t|e weus|te.
º ||esertat|crs ¤ace tc t|e |rst|tut|cra| |rvestc|s c| tc t|e ara|]sts a|e |¤¤ec|ate|] pcstec cr Cc¤par]'s weus|te |r c|ce| tc s|a|e
t|e |rlc|¤at|cr w|t| puu||c at |a|çe.
ßooora| 8haroho|dors IoIormat|oo
(1} /rrua| Cere|a| Veet|rç.
Date, I|¤e c Verue . 2c Ju|] 2011 at 3.00 p.¤.
. E·c|arçe ||ata, |SE /uc|tc||u¤, C|curc ||cc|,
Barc|a-Ku||a Cc¤p|e·, Barc|a (East}, Vu¤ua| 100 051.
(2} ||rarc|a| Ca|erca| . 1 /p||| 2010 tc 31 Va|c| 2011
(3} Date cl Bcc| C|csu|e . 19 Ju|] 2011 tc 2c Ju|] 2011 (Bct| ca]s |rc|us|ve}.
(1} D|v|cerc |a]¤ert Date . 28 Ju|] 2011
(5} l|st|rç cr t|e Stcc| E·c|arçes . 1. Bc¤ua] Stcc| E·c|arçe l|¤|tec
||||cte Jeejeeu|c] Icwe|s, Da|a| St|eet, Vu¤ua| - 100 001.
2. |at|cra| Stcc| E·c|arçe cl |rc|a ltc.
E·c|arçe ||ata, Barc|a-Ku||a Cc¤p|e·,
Barc|a (East}, Vu¤ua| - 100 051.
I|e |ecu|s|te l|st|rç |ees lc| t|e l|rarc|a| ]ea| 2011-2012 |as ueer pa|c tc uct| t|e aucve Stcc| E·c|arçes w|e|e t|e ecu|t] s|a|es cl
t|e Cc¤par] a|e ||stec.
(c} Stcc| Ccce
Bc¤ua] Stcc| E·c|arçe l|¤|tec . 532c38
|at|cra| Stcc| E·c|arçe cl |rc|a ltc. . S|0|ERSI0| (S]¤uc|}
Corporate 6overuauce Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 73
(7} 8tock Markot ßata Ior tho por|od - 1 Apr|| 2010 to 31 March 2011
8haro pr|co porIormaoco |o compar|soo oo ß8E:
Mooth (2010-11}
ß8E 8oosox No. oI 8haros
traosactod h|gh ( } Iow ( } h|gh Iow
/p||| 181.15 375.05 18,017.8c 17,27c.80 3c9,810
Va] 117.90 370.00 17,53c.8c 15,9c0.15 209,258
Jure 581.80 118.00 17,919.c2 1c,318.39 955,c08
Ju|] ccc.25 511.00 18,237.5c 17,395.58 1,893,029
/uçust 738.70 585.20 18,175.27 17,819.99 58c,171
Septe¤ue| 719.20 c10.00 20,2c7.98 18,027.12 519,183
0ctcue| 711.00 c39.90 20,851.55 19,7c8.9c 571,232
|cve¤ue| 752.00 c15.c5 21,108.c1 18,951.82 121,c71
Dece¤ue| 775.80 cc1.00 20,552.03 19,071.57 72,225
'Jarua|] 792.00 (Belc|e suu-c|v|s|cr} 320.00 20,cc1.80 18,038.18 258,271
'|eu|ua|] 3c8.55 2c1.00 18,c90.97 17,295.c2 105,581
'Va|c| 3c1.90 301.20 19,575.1c 17,792.17 110,151
' /lte| suu-c|v|s|cr cl lace va|ue cl Ecu|t] s|a|e l|c¤ 10/- eac| tc 5/- eac|.
8hoppors 8top Fr|co Movomoot 6hart - ß8E
150
250
350
450
550
650
750
Mar Feb Jan Dec Nov Oct Sept Aug July June May Apr
A
m
o
u
n
t
(
`
)
S
e
n
s
e
x
Financial Year 2010-11
Shoppers Stop
Sensex
16000
16500
17000
17500
18000
18500
19000
19500
20000
20500
(/cjustec tc ellect suu-c|v|s|cr cl lace va|ue cl Ecu|t] s|a|e l|c¤ 10/- eac| tc 5/- eac|}.
8haro pr|co porIormaoco |o compar|soo oo N8E:
Mooth (2010-11}
N8E N|Ity
No. oI 8haros
traosactod
h|gh ( } Iow ( } h|gh Iow
/p||| 111.10 375.00 5,399.c5 5,1c0.90 228,5c8
Va] 117.80 352.c5 5,278.70 1,78c.15 381,599
Jure 590.00 113.00 5,3cc.75 1,9c1.05 1,93c,1c1
Ju|] ccc.50 515.00 5,177.50 5,225.c0 1,112,cc1
/uçust 7c8.00 592.50 5,519.80 5,318.90 1,939,109
Septe¤ue| 719.10 c11.00 c,073.50 5,103.05 1,725,192
0ctcue| 713.35 c51.00 c,281.10 5,937.10 1,2c7,901
|cve¤ue| 713.90 c72.15 c,338.50 5,c90.35 c05,ccc
Dece¤ue| 775.90 570.00 c,117.30 5,721.15 1c3,31c
'Jarua|] 787.00 (Belc|e suu-c|v|s|cr} 302.30 c,181.05 5,11c.c5 1,158,55c
'|eu|ua|] 3c8.c0 2c1.05 5,599.25 5,177.70 537,00c
'Va|c| 392.00 305.05 5,872.00 5,318.20 528,c17
' /lte| suu-c|v|s|cr cl lace va|ue cl Ecu|t] s|a|e l|c¤ 10/- eac| tc 5/- eac|.
Corporate 6overuauce Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 71
8hoppors 8top Fr|co Movomoot 6hart - N8E
250
350
450
550
650
750
Mar Feb Jan Dec Nov Oct Sept Aug July June May Apr
3500
4000
4500
5000
5500
6000
6500
A
m
o
u
n
t
(
`
)
N
i
f
t
y
Financial Year 2010-11 Shoppers Stop
Nifty
(/cjustec tc ellect suu-c|v|s|cr cl lace va|ue cl Ecu|t] s|a|e l|c¤ 10/- eac| tc 5/- eac|}.
(8} ß|str|but|oo oI 8haroho|d|og as oo 31 March 2011 aod 31 March 2010:
8haroho|d|og oI
Nom|oa| va|uo
As oo March 31, 2011 As oo March 31, 2010
8haroho|dors % to tota| 8haroho|dors % to tota|
ßupoos Numbor % to
tota|
ßupoos % to
tota|
Numbor % to
tota|
ßupoos % to
tota|
uptc 5000 7,121 9c.93 2,c11,310 0.c1 7,995 9c.8c 3,177,7c0 1.00
5001-10000 55 0.75 150,775 0.11 82 0.99 c15,110 0.18
10001-20000 37 0.50 527,885 0.13 12 0.51 580,300 0.17
20001-30000 23 0.31 575,115 0.11 33 0.10 853,890 0.21
30001-10000 12 0.17 111,115 0.10 13 0.1c 1c1,080 0.13
10001-50000 c 0.08 281,1c0 0.07 9 0.11 117,720 0.12
50001-100000 17 0.23 1,315,305 0.33 18 0.22 1,151,810 0.12
100001 arc aucve 7c 1.03 101,597,915 98.18 c2 0.75 311,252,710 97.71
Iota| 7,350 100.00 410,834,180 100.00 8,254 100.00 349,143,440 100.00
8haroho|d|og Fattoro
I|e cateçc||es cl s|a|e|c|c|rçs as cr 31 Va|c| 2011 arc 31 Va|c| 2010.
6atogory
As oo March 31, 2011 As oo March 31, 2010
No. oI
8haros ho|d
% to tota| No. oI
8haros ho|d
% to tota|
||c¤cte|s 5c,029,c71 c8.19 23,921,181 c8.51
Vutua| |urcs 5,190,130 c.32 3,c9c,138 10.59
||rarc|a| |rst|tut|cr 0 0 138,050 0.10
|c|e|çr |rst|tut|cra| |rvestc|s 10,813,521 13.1c 1,70c,9c1 1.89
Cc|pc|ate Bcc|es 7,279,731 8.8c 2,729,0c5 7.81
|rc|ar |uu||c c |u| 2,829,587 3.11 2,c81,901 7.c9
Bar|s 0 0 2,000 0.01
|R|'s c 0CB's 15,12c 0.02 8,251 0.02
C|ea||rç Ve¤ue|s (I|ars|t} 8,757 0.01 27,18c 0.08
I|ust 1 0.00 2 0.00
Iota| 82,166,836 100.00 34,914,344 100.00
Corporate 6overuauce Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 75
I|e Bca|c cl D||ectc|s arc s|a|e|c|ce|s cl t|e Cc¤par] at t|e|| ¤eet|rçs |e|c cr 0ctcue| 29, 2010 arc Dece¤ue| 23, 2010 |espect|ve|]
|ac app|cvec suu-c|v|s|cr cl ecu|t] s|a|e cl 10/- eac| |rtc twc ecu|t] s|a|es cl 5/- eac|. I|e Cc¤par] l|·ec Jarua|] 13, 2011 as
t|e Recc|c Date, lc| t|e sa|c suu-c|v|s|cr arc as cr cate, t|e ecu|t] s|a|es cl t|e cc¤par] we|e suu-c|v|cec.
8haroho|d|og oI ßoard oI ß|roctors as oo 31 March 2011:
Namo oI ß|roctor 8tatus No. oI 8haros
V|. C|arc|u l. Ra|eja ||c¤cte| D||ectc| c,97,500
V|. Rav| C. Ra|eja ||c¤cte| D||ectc| 11,00,000
V|. |ee| C. Ra|eja ||c¤cte| D||ectc| 11,50,000
V|. Cu|u l. V||c|arcar| D||ectc| 1,000
V|. S|a|taac S. Da|a| D||ectc| 2,000
||cl. ||t|r Sarç|av| D||ectc| 0
V|. Deepa| C|a|sas' D||ectc| 7,750
V|. B. S. |açes| V|ce C|a||¤ar c,12,788
V|. Ccv|rc S|||||arce Varaç|rç D||ectc| 1,12,038
V|. |||v|| S|rç| D||ectc| 0
' V|. Deepa| C|a|sas |c|cs 7,750 Ecu|t] S|a|es jc|rt|] w|t| ||s w|le as seccrc |c|ce|.
(9} Reç|st|a| arc I|arsle| /çert . Ka|v] Cc¤pute|s|a|e |||vate l|¤|tec
||ct |c. 17-21, V|tt|a| Rac |aça|, Vac|apu|, |]ce|auac - 500 081, (|rc|a}.
Ie|. ÷91-10 2312 0818, |a·. ÷91-10 2312 0811
(10} S|a|e I|arsle| S]ste¤ . I|e s|a|es cl t|e Cc¤par] a|e t|acec cr t|e Stcc| E·c|arçes t||cuç| t|e Depcs|tc|] S]ste¤.
I|e |S|| a||cttec tc t|e ecu|t] s|a|es cl 5/- eac| cl t|e Cc¤par] |s ||E198B01021.
I|e |ecuest |ece|vec u] t|e Cc¤par]/RI/ lc| ce¤ate||a||sat|cr/|e¤ate||a||sat|cr a|e c|spcsec
cll e·pec|t|cus|]. S|a|e ce|t|l|cates cu|] ercc|sec a|e |ssuec tc t|e s|a|e|c|ce|s, w|c cpt lc| t|e
s|a|es |r t|e p|]s|ca| lc|¤.
(11} De¤ate||a||sat|cr cl s|a|es . I|e t|ac|rç |r Cc¤par]'s ecu|t] s|a|es |s cc¤pu|sc|||] |r ce¤ate||a||sec ¤cce lc| a|| |rvestc|s.
arc ||cu|c|t] /s cr cate, ert||e s|a|e cap|ta| cl t|e Cc¤par] e·cept 2,358 ecu|t] s|a|es a|e ue|rç |e|c |r t|e
p|]s|ca| ¤cce.
I|e s|a|es cl t|e Cc¤par] a|e |eçu|a||] t|acec at uct| t|e Stcc| E·c|arçes w|e|e t|e] a|e
||stec, w||c| ersu|e t|e recessa|] ||cu|c|t] tc s|a|e|c|ce|s.
(12} 0utstarc|rç CDRs//DRs/ . I|e Cc¤par] |as rct |ssuec ar] /DR c| CDR c| wa||arts c| ar] ccrve|t|u|e |rst|u¤erts,
Wa||arts c| ar] Ccrve|t|u|e w||c| |as |||e|] |¤pact cr ecu|t] s|a|e cap|ta|.
|rst|u¤erts
(13} /cc|ess lc| cc||espcrcerce . V|. ||as|art Ve|ta
V|ce ||es|cert ÷ leça| c Cc¤par] Sec|eta|]
Eu|e|a Icwe|s, B-W|rç, 9t| ||cc|, V|rcspace, l|r| Rcac, Va|ac (W}, Vu¤ua| - 100 0c1.
Ie|. (022} 1219 7000
E-¤a|| |D . |rvestc|_s|cppe|sstcp.cc¤
Weu /cc|ess. www.s|cppe|sstcp.cc¤
Corporate 6overuauce Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 7c
(11} Stc|e lccat|crs . Wostoro ßog|oo
1. 211-D, S. V. Rcac, /rc|e|| (W}, Vu¤ua| - 100 058
2. K|us|a| Cc¤¤e|c|a| Cc¤p|e·, C. V. Rcac, C|e¤uu| (W}, Vu¤ua| - 100 089
3. Suuu|u|a, 0|c Barc|a Ia|||es, l|r||rç Rcac, Barc|a (West}, Vu¤ua| - 100 050
1. |a¤ar ||ata, 11, S. V. Rcac, 0pp. S|ar|a| lare, Karc|va|| (W}, Vu¤ua| - 100 0c7
5. |||¤a| l|lest]|es, l. B. S. Va|ç, Vu|urc (W}, Vu¤ua| - 100 080
c. |rc|u|t Va||, ||ct rc. 110c-/, 28//, l|r| Rcac, Va|ac (W}, Vu¤ua| - 100 0c1
7. D]ra¤|· Va||, Sart D|]ares|wa| Va|ç, JV|D Sc|e¤e, |e·t tc C|arcar C|re¤a |a||,
V||e |a||e (W}, Vu¤ua| - 100 019
8. Ccc|ej Ete|r|a, B-W|rç, S||vaj| |aça|, Vu¤ua|-|ure Rcac, |ure - 111 005
9. |uc|eus Va||, 1 C|u|c| Rcac, |ure - 111 001
10. |c¤eStcp, |rc|u|t Va||, 2rc ||cc|, l|r| Rcac, Va|ac (W}, Vu¤ua| - 100 0c1
11. ||ctcre Va||, ||ct Sectc|-C, C|||a|t|ara |rcust||a| /|ea, Vasartpu|,
/u|arçauac - 131 210
12. |rc|u|t Va||, ||ct rc. 39/1, Vas||, |av| Vu¤ua| - 100 705
13. |c¤eStcp, |rc|u|t Va||, 2rc ||cc|, Sectc| |c. 30 /, Vas||, |av| Vu¤ua| - 100 705
8outhoro ßog|oo
1. Ca|uca Sta| Va||, Vaç|at| Rcac, /s|c| |aça|, Berça|u|u - 5c0 025
2. Cc¤¤e|ce_Vart||, C|curc ||cc|, |. S. |a|]a, Barre|ç|atta Rcac, Berça|u|u - 5cc 07c
3. 1, Sa¤p|çe Rcac, |e·t tc Vart|| C|eers, Belc|e Sa¤p|çe I|eat|e, Va||es|wa|a¤,
Berça|u|u - 5c0 003
1. Sa|a|pu||]a Icwe| - ||, |ea| |c|u¤ Va||, Wa|c |c. c3, Kc|¤arça|a |rc|. la]cut,
Berça|u|u ÷ 5c0 095.
5. ||ct |c. 1-11-251/1, /||ac|r Vars|cr, Beçu¤pet, |]ce|auac - 500 01c
c. |c. 2, |a|||rçtcr Rcac, C|etpet, C|erra| - c00 031
7. CVK 0re Va||, Rcac |c. 01, Barja|a ||||s, |]ce|auac - 500 031
8. |rc|u|t Va||, /p||c Scltwa|e la]cut, ||tec| C|t], C]ue|auac, |]ce|auac - 500 081
9. CVR |]ce|auac |rte|rat|cra| /||pc|t ltc., leve| - D, |asserçe| Ie|¤|ra| Bu||c|rç,
S|a¤s|auac /||pc|t, Rarça|ecc], D|st||ct - 500 109
10. |asserçe| Ie|¤|ra| Bu||c|rç, Berça|u|u |rte|rat|cra| /||pc|t,
Devara|a|||, Berça|u|u - 5c0 300.
11. |c¤eStcp, Ra|eja |c|rt |c. 17/2, Vaç|at| Rcac, Berça|u|u - 5c0 025
Northoro ßog|oo
1. Cau|av Icwe|s 2 , ||ct |c. 2, |rc||a |a|ace, Va|v|]a |aça|, Ja|pu| - 302 017
2. /rsa| ||ata, |uccc |a|ace, /rc|ews Carj, K|e|çacr Va|ç, |ea| Scut| E·ters|cr,
|ew De||| - 110 019
3. I|e Vet|cpc||tar Va||, Ve||au||-Cu|çacr Rcac, Cu|çacr, |a|]ara - 122 002
Corporate 6overuauce Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 77
1. S||p|a Va||, S||p|a Surc|t], 9 Va|u|av K|arc, |rc||apu|a¤, C|at|auac - 201 012
5. |c¤eStcp, ||ct |c. //3, Se|ect C|t] Wa||, D|st||ct Cert|e, Sa|et, |ew De||| - 110 017
c. E-C|t] Va||, 0pp. |a|]atar B|avar, Bes|ce E|cecc C|eer Cc¤pcurc,
Cc¤t| |aça|, luc|rcw - 22c 010
7. E|cs Va||, ||ct rc. 10, S||vaj| |a|ace, D|st||ct Cert|e, Rajcu|| Ca|cer,
Be||rc V|s|a| C|re¤a Cc¤p|e·, Rajcu||, |ew De||| - 110 027
8. I|e C|eat |rc|a |a|ace, ||ct |c.2, Sectc| 38-/, |ew 0|||a |rcust||a| Deve|cp¤ert /|ea,
D|st||ct - Cauta¤ Buc| |aça|, |c|ca, utta| ||aces| - 201301
9. Vet|cpc||tar Va||, ||ess Erc|ave Rcac, D|st||ct Cert|e Sa|et, Sectc| ||, |ew De||| - 110 017
10. Surc|t] I||tcr Va||, |ea| B|awar| |||etar Cc||eçe, 0ll S||a| Rcac, C|c¤u C||c|e,
V|||açe Bass|, S|ta|a¤pu|a, Ie|s|| Sawa|, Ja|pu| - 302 012
11. /|p|a 0re Va||, VB| |a|¤, Su|tar W|rc, Va|r C. I. Rcac, /¤||tsa| - 113 010
12. /¤u|erce Va||, |e|scr Varce|a Rcac, Vasart Kurj, |ew De||| - 110 070
13. DB C|t] Va||, /|e|a ||||s, B|cpa| - 1c2 011
Eastoro ßog|oo
1. 10/3, la|a lajpat Ra| Sa|ar| (E|ç|r Rcac}, Kc||ata - 700 020
2. C|t] Cert|e, DC-1, Sectc|-1, Sa|t la|e, Kc||ata - 700 0c1
3. Scut| C|t] Va||, 375, |||rce /rwa| S|a| Rcac, 0pp. Jcc|pu| |a||, Kc||ata - 700 0c8.
1. Jurct|cr Va||, Vcuta ÷ |a||cpu|, J. l. |c. 71, C|t] Cert|e, Du|çapu| - 713 21c.
5. C|t] Cert|e,S|||çu|| uttc|a]cr Icwrs||p, || - 31, Vat|ça|a, S|||çu|| - 731 010
Corporate 6overuauce Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 78
Io,
Iho Mombors oI 8hoppors 8top I|m|tod
1. We |ave auc|tec t|e attac|ec Ba|arce S|eet cl S|cppe|s Stcp l|¤|tec ('t|e Cc¤par]'} as at 31 Va|c| 2011, t|e ||cl|t arc lcss
/cccurt arc t|e Cas| ||cw State¤ert cl t|e Cc¤par] lc| t|e ]ea| ercec cr t|at cate, uct| arre·ec t|e|etc. I|ese l|rarc|a|
state¤erts a|e t|e |espcrs|u|||t] cl t|e Cc¤par]'s Varaçe¤ert. 0u| |espcrs|u|||t] |s tc e·p|ess ar cp|r|cr cr t|ese l|rarc|a|
state¤erts uasec cr cu| auc|t.
2. We ccrcuctec cu| auc|t |r accc|carce w|t| auc|t|rç starca|cs çere|a||] acceptec |r |rc|a. I|cse Starca|cs |ecu||e t|at we p|ar
arc pe|lc|¤ t|e auc|t tc cuta|r |eascrau|e assu|arce aucut w|et|e| t|e l|rarc|a| state¤erts a|e l|ee cl ¤ate||a| ¤|sstate¤erts.
/r auc|t |rc|uces e·a¤|r|rç, cr a test uas|s, ev|cerce suppc|t|rç t|e a¤curts arc t|e c|sc|csu|es |r t|e l|rarc|a| state¤erts. /r
auc|t a|sc |rc|uces assess|rç t|e acccurt|rç p||rc|p|es usec arc t|e s|çr|l|cart est|¤ates ¤ace u] t|e Varaçe¤ert, as we|| as
eva|uat|rç t|e cve|a|| l|rarc|a| state¤ert p|esertat|cr. We ue||eve t|at cu| auc|t p|cv|ces a |eascrau|e uas|s lc| cu| cp|r|cr.
3. /s |ecu||ec u] t|e Cc¤par|es (/uc|tc|'s Repc|t} 0|ce|, 2003 |ssuec u] t|e Cert|a| Ccve|r¤ert cl |rc|a |r te|¤s cl Sect|cr
227(1/} cl t|e Cc¤par|es /ct, 195c, we erc|cse |r t|e /rre·u|e a state¤ert cr t|e ¤atte|s spec|l|ec |r pa|aç|ap|s 1 arc 5 cl
t|e sa|c 0|ce|.
1. |u|t|e| tc cu| cc¤¤erts |r t|e /rre·u|e |ele||ec tc |r pa|aç|ap| 3 aucve, we |epc|t as lc||cws.
(a} we |ave cuta|rec a|| t|e |rlc|¤at|cr arc e·p|arat|crs w||c| tc t|e uest cl cu| |rcw|ecçe arc ue||el we|e recessa|] lc| t|e
pu|pcses cl cu| auc|t,
(u} |r cu| cp|r|cr, p|cpe| ucc|s cl acccurt as |ecu||ec u] |aw |ave ueer |ept u] t|e Cc¤par] sc la| as |t appea|s l|c¤ cu|
e·a¤|rat|cr cl t|cse ucc|s,
(c} t|e Ba|arce S|eet, t|e ||cl|t arc lcss /cccurt arc t|e Cas| ||cw State¤ert cea|t w|t| u] t||s |epc|t a|e |r aç|ee¤ert w|t|
t|e ucc|s cl acccurt,
(c} |r cu| cp|r|cr, t|e Ba|arce S|eet, t|e ||cl|t arc lcss /cccurt arc t|e Cas| ||cw State¤ert cea|t w|t| u] t||s |epc|t a|e |r
cc¤p||arce w|t| t|e /cccurt|rç Starca|cs |ele||ec tc |r Sect|cr 211(3C} cl t|e Cc¤par|es /ct, 195c,
(e} W|t|cut cua||l]|rç cu| cp|r|cr, attert|cr |s |rv|tec tc |cte 21 cl t|e ||rarc|a| State¤erts |eça|c|rç rcr-p|cv|s|cr cl se|v|ce
ta· lc| t|e pe||cc 1 Jure 2007 tc 31 Va|c| 2010 cr |ert|rç cl |¤¤cveau|e p|cpe|t|es ç|ver lc| cc¤¤e|c|a| use, açç|eçat|rç
1,c19 |acs. I|e |et|cspect|ve |ev] cl se|v|ce ta· |as, |rte|-a||a, ueer c|a||erçec u] t|e Cc¤par] |r va||cus ||ç| Ccu|ts arc
ar |rte||¤ sta] |as ueer ç|artec u] t|e va||cus ||ç| Ccu|ts l|c¤ t|e |eccve|] cl t|e sa|c se|v|ce ta·. I|e ¤atte| |s ccrt|rçert
upcr t|e l|ra| cutcc¤e cl t|e ||t|çat|cr.
(l} |r cu| cp|r|cr arc tc t|e uest cl cu| |rlc|¤at|cr arc accc|c|rç tc t|e e·p|arat|crs ç|ver tc us, t|e sa|c acccurts ç|ve t|e
|rlc|¤at|cr |ecu||ec u] t|e Cc¤par|es /ct, 195c |r t|e ¤arre| sc |ecu||ec arc ç|ve a t|ue arc la|| v|ew |r ccrlc|¤|t] w|t| t|e
acccurt|rç p||rc|p|es çere|a||] acceptec |r |rc|a.
(|} |r t|e case cl t|e Ba|arce S|eet, cl t|e state cl alla||s cl t|e Cc¤par] as at 31 Va|c| 2011,
(||} |r t|e case cl t|e ||cl|t arc lcss /cccurt, cl t|e p|cl|t cl t|e Cc¤par] lc| t|e ]ea| ercec cr t|at cate arc
(|||} |r t|e case cl t|e Cas| ||cw State¤ert, cl t|e cas| l|cws cl t|e Cc¤par] lc| t|e ]ea| ercec cr t|at cate.
5. 0r t|e uas|s cl w||tter |ep|esertat|crs |ece|vec l|c¤ t|e D||ectc|s as cr 31 Va|c| 2011 arc ta|er cr |ecc|c u] t|e Bca|c cl
D||ectc|s, rcre cl t|e D||ectc|s |s c|scua||l|ec as cr 31 Va|c| 2011 l|c¤ ue|rç appc|rtec as a c||ectc| |r te|¤s cl Sect|cr 271(1}(ç}
cl t|e Cc¤par|es /ct, 195c.
For ßo|o|tto hask|os 8 8o||s,
C|a|te|ec /cccurtarts
(Reç|st|at|cr |c. 1173ccW}
8hyamak ß. Iata
|a|tre|
Ve¤ue|s||p |c. 38320
||ace. Vu¤ua|
Date. 29 /p|||, 2011
Auditors' Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 79
(ßoIorrod to |o paragraph (3} thorooI}
|r cu| cp|r|cr arc accc|c|rç tc t|e |rlc|¤at|cr arc e·p|arat|cr ç|ver tc us, t|e ratu|e cl t|e Cc¤par]'s uus|ress/act|v|t|es cu||rç t|e
]ea| a|e suc| t|at c|auses (v|}, (v|||}, (·}, (·||}, (·|||}, (·|v} arc (·|·} cl Cc¤par|es (/uc|tc|s' Repc|t} 0|ce| 2003, a|e rct app||cau|e tc t|e
Cc¤par]. |r |espect cl t|e ct|e| c|auses, we |epc|t as urce|.
1. |r |espect cl |ts l|·ec assets.
(a} I|e Cc¤par] |as ¤a|rta|rec p|cpe| |ecc|cs s|cw|rç lu|| pa|t|cu|a|s, |rc|uc|rç cuart|tat|ve ceta||s arc s|tuat|cr cl t|e
l|·ec assets.
(u} Sc¤e cl t|e l|·ec assets we|e p|]s|ca||] ve||l|ec cu||rç t|e ]ea| u] t|e Varaçe¤ert |r accc|carce w|t| a p|cç|a¤¤e
cl ve||l|cat|cr, w||c|, |r cu| cp|r|cr, p|cv|ces lc| p|]s|ca| ve||l|cat|cr cl a|| t|e l|·ec assets at |eascrau|e |rte|va|s.
/ccc|c|rç tc t|e |rlc|¤at|cr arc e·p|arat|crs ç|ver tc us, rc ¤ate||a| c|sc|eparc|es we|e rct|cec cr suc| ve||l|cat|cr.
(c} Du||rç t|e ]ea|, |r cu| cp|r|cr, a suustart|a| pa|t cl l|·ec assets |as rct ueer c|spcsec cll u] t|e Cc¤par].
2. |r |espect cl |ts |rvertc|].
(a} /s e·p|a|rec tc us, t|e |rvertc||es we|e p|]s|ca||] ve||l|ec cu||rç t|e ]ea| u] t|e Varaçe¤ert at |eascrau|e |rte|va|s.
(u} |r cu| cp|r|cr arc accc|c|rç tc t|e |rlc|¤at|cr arc e·p|arat|crs ç|ver tc us, t|e p|ccecu|es cl p|]s|ca| ve||l|cat|cr cl
|rvertc||es lc||cwec u] t|e Varaçe¤ert we|e |eascrau|e arc acecuate |r |e|at|cr tc t|e s|te cl t|e Cc¤par] arc t|e
ratu|e cl |ts uus|ress.
(c} |r cu| cp|r|cr arc accc|c|rç tc t|e |rlc|¤at|cr arc e·p|arat|crs ç|ver tc us, t|e Cc¤par] |as ¤a|rta|rec p|cpe| |ecc|cs
cl |ts |rvertc||es arc rc ¤ate||a| c|sc|eparc|es we|e rct|cec cr p|]s|ca| ve||l|cat|cr.
3. I|e cc¤par] |as rct ta|er ar] |cars, secu|ec c| ursecu|ec, l|c¤ cc¤par|es, l||¤s c| ct|e| pa|t|es ||stec |r t|e Reç|ste| ¤a|rta|rec
urce| Sect|cr 301 cl t|e Cc¤par|es /ct, 195c. |r |espect cl |cars, secu|ec c| ursecu|ec, ç|artec u] t|e Cc¤par] tc cc¤par|es,
l||¤s c| ct|e| pa|t|es ccve|ec |r t|e Reç|ste| ¤a|rta|rec urce| Sect|cr 301 cl t|e Cc¤par|es /ct, 195c, accc|c|rç tc t|e |rlc|¤at|cr
arc e·p|arat|crs ç|ver tc us.
(a} I|e cc¤par] |as ç|artec ursecu|ec |cars tc cre pa|t] cu||rç t|e ]ea|. /t t|e ]ea|-erc, t|e cutstarc|rç ua|arce cl suc|
|cars açç|eçatec 12,5c5.51 |acs arc t|e ¤a·|¤u¤ a¤curt |rvc|vec cu||rç t|e ]ea| was 13,c85.15 |acs.
(u} I|e |ate cl |rte|est arc ct|e| te|¤s arc ccrc|t|crs cl suc| |cars a|e, |r cu| cp|r|cr, c·¬- |-.- rct p|ejuc|c|a| tc t|e
|rte|ests cl t|e Cc¤par].
(c} I|e pa]¤ert cl p||rc|pa| arc |rte|est |r |espect cl suc| |cars a|e as pe| st|pu|at|crs.
(c} I|e|e a|e rc cve|cue a¤curts cl p||rc|pa| c| |rte|est as at 31 Va|c| 2011.
1. |r cu| cp|r|cr arc accc|c|rç tc t|e |rlc|¤at|cr arc e·p|arat|crs ç|ver tc us, t|e|e |s ar acecuate |rte|ra| ccrt|c| s]ste¤
cc¤¤ersu|ate w|t| t|e s|te cl t|e Cc¤par] arc t|e ratu|e cl |ts uus|ress w|t| |eça|c tc pu|c|ases cl |rvertc|] arc l|·ec assets
arc t|e sa|e cl çcccs arc se|v|ces. Du||rç t|e ccu|se cl cu| auc|t, we |ave rct cuse|vec ar] ¤ajc| wea|ress |r t|e alc|esa|c
|rte|ra| ccrt|c| s]ste¤s.
5. |r |espect cl ccrt|acts c| a||arçe¤erts erte|ec |r t|e Reç|ste| ¤a|rta|rec |r pu|suarce cl Sect|cr 301 cl t|e Cc¤par|es /ct, 195c,
tc t|e uest cl cu| |rcw|ecçe arc ue||el arc accc|c|rç tc t|e |rlc|¤at|cr arc e·p|arat|crs ç|ver tc us.
(a} I|e pa|t|cu|a|s cl t|e ccrt|acts c| a||arçe¤erts |ele||ec tc |r Sect|cr 301 t|at reecec tc ue erte|ec |r t|e Reç|ste|
¤a|rta|rec urce| t|e sa|c Sect|cr |ave ueer sc erte|ec.
(u} W|e|e eac| cl suc| t|arsact|crs |s |r e·cess cl 5 |acs |r |espect cl ar] pa|t], we a|e |rlc|¤ec t|at t|e ratu|e cl
t|arsact|cr |s suc| t|at t|e|e a|e rc cc¤pa|at|ve p|eva|||rç ¤a||et p||ces.
c. |r cu| cp|r|cr, t|e |rte|ra| auc|t lurct|crs ca|||ec cut cu||rç t|e ]ea| u] l||¤s cl C|a|te|ec /cccurtarts appc|rtec u] t|e Varaçe¤ert
|ave ueer cc¤¤ersu|ate w|t| t|e s|te cl t|e Cc¤par] arc t|e ratu|e cl |ts uus|ress.
7. /ccc|c|rç tc t|e |rlc|¤at|cr arc e·p|arat|crs ç|ver tc us, arc t|e |ecc|cs cl t|e Cc¤par] e·a¤|rec u] us |r |espect cl
statutc|] cues.
(a} I|e Cc¤par] |as çere|a||] ueer |eçu|a| |r cepcs|t|rç urc|sputec cues |rc|uc|rç ||cv|cert |urc, |rvestc| Ecucat|cr arc
||ctect|cr |urc, E¤p|c]ees' State |rsu|arce, |rcc¤e-Ia·, Sa|es Ia·, Wea|t| Ia·, Se|v|ce Ia·, Custc¤s Dut], E·c|se Dut],
Cess arc ct|e| ¤ate||a| statutc|] cues app||cau|e tc |t w|t| t|e app|cp||ate aut|c||t|es.
(u} I|e|e we|e rc urc|sputec a¤curts pa]au|e |r |espect cl |rcc¤e-Ia·, Sa|es Ia·, Wea|t| Ia·, Se|v|ce Ia·, Custc¤s Dut],
E·c|se Dut], Cess arc ct|e| ¤ate||a| statutc|] cues |r a||ea|s as at 31 Va|c| 2011 lc| a pe||cc cl ¤c|e t|ar s|· ¤crt|s
l|c¤ t|e cate t|e] ueca¤e pa]au|e.
Auuexure to the Auditors' Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 80
(c} I|e|e a|e rc c|sputec cues |e|at|rç tc Sa|es Ia·, Wea|t| Ia·, Se|v|ce Ia·, E·c|se Dut] arc Cess w||c| |ave rct ueer cepcs|tec
w|t| t|e |e|evart aut|c||t|es as at 31st Va|c|, 2011.
I|e ceta||s cl cues cl |rcc¤e-Ia· arc Custc¤s Dut] w||c| |ave rct ueer cepcs|tec as cr 31 Va|c| 2011 cr acccurt cl ar]
c|sputes a|e ç|ver ue|cw.
Namo oI tho 8tatuto Naturo oI duos For|od to wh|ch tho
amouot ro|atos
Forum whoro
d|sputo |s pood|og
Amouot uodor
d|sputo oot yot
dopos|tod
( |o |acs}
I|e |rcc¤e-ta· /ct,
19c1
|rcc¤e-ta· |Y 2007-08 D]. Cc¤¤|ss|cre|
(/ppea|s}
71.9c
|Y 2008-09 D]. Cc¤¤|ss|cre|
(/ppea|s}
71.10
I|e Custc¤s /ct, 19c2 Custc¤ cut] |Y 2007-08 Cc¤¤|ss|cre|
(/ppea|s}
17.09
8. |r cu| cp|r|cr arc accc|c|rç tc t|e |rlc|¤at|cr arc e·p|arat|crs ç|ver tc us, t|e Cc¤par] |as rct celau|tec |r t|e |epa]¤ert cl
cues tc uar|s.
9. |r cu| cp|r|cr arc accc|c|rç tc t|e |rlc|¤at|cr arc e·p|arat|crs ç|ver tc us, t|e te|¤s arc ccrc|t|crs cl t|e çua|artees ç|ver u] t|e
Cc¤par] lc| |cars ta|er u] |ts jc|rt vertu|e cc¤par|es l|c¤ uar|s a|e rct c·¬- |-.- p|ejuc|c|a| tc t|e |rte|ests cl t|e Cc¤par].
10. |r cu| cp|r|cr arc accc|c|rç tc t|e |rlc|¤at|cr arc e·p|arat|crs ç|ver tc us, t|e te|¤ |cars cuta|rec |ave ueer app||ec lc| t|e
pu|pcses lc| w||c| t|e] we|e cuta|rec.
11. |r cu| cp|r|cr arc accc|c|rç tc t|e |rlc|¤at|cr arc e·p|arat|crs ç|ver tc us arc cr ar cve|a|| e·a¤|rat|cr cl t|e Ba|arce S|eet, we
|epc|t t|at lurcs |a|sec cr s|c|t-te|¤ uas|s |ave rct ueer usec cu||rç t|e ]ea| lc| |crç-te|¤ |rvest¤ert.
12. Du||rç t|e ]ea|, t|e Cc¤par] |as ¤ace p|ele|ert|a| a||ct¤ert cl s|a|es aça|rst cpt|cra||] ccrve|t|u|e wa||arts |ssuec |r t|e p|ev|cus
]ea| tc Cc¤par|es ccve|ec |r t|e Reç|ste| ¤a|rta|rec urce| Sect|cr 301 cl t|e Cc¤par|es /ct, 195c. I|e p||ce at w||c| t|ese
s|a|es |ave ueer a||cttec, |as ueer cete|¤|rec as pe| t|e Secu||t|es arc E·c|arçe Bca|c cl |rc|a (|ssue cl Cap|ta| arc D|sc|csu|e
Recu||e¤erts} Reçu|at|crs, 2009, w||c| |r cu| cp|r|cr, |s rct p|ejuc|c|a| tc t|e |rte|est cl t|e Cc¤par].
13. We |ave ve||l|ec t|e erc use cl ¤cre]s |a|sec u] puu||c |ssue v|t. cua||l|ec |rst|tut|cra| p|ace¤ert arc t|e sa¤e |as ueer c|sc|csec
|r |cte 37(||} cl t|e l|rarc|a| state¤erts.
11. Ic t|e uest cl cu| |rcw|ecçe arc accc|c|rç tc t|e |rlc|¤at|cr arc e·p|arat|crs ç|ver tc us, rc l|auc u] t|e Cc¤par] arc rc
s|çr|l|cart l|auc cr t|e Cc¤par] |as ueer rct|cec c| |epc|tec cu||rç t|e ]ea|.
For ßo|o|tto hask|os 8 8o||s,
C|a|te|ec /cccurtarts
(Reç|st|at|cr |c. 1173ccW}
8hyamak ß. Iata
|a|tre|
Ve¤ue|s||p |c. 38320
||ace. Vu¤ua|
Date. 29 /p|||, 2011
Auuexure to the Auditors' Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 81
|r te|¤s cl cu| |epc|t cl ever cate. |c| arc cr ue|a|l cl t|e Bca|c cl D||ectc|s
For ßo|o|tto hask|os 8 8o||s ß. 8. Nagosh ßav| ßahoja ßov|od 8. 8hr|khaodo
C|a|te|ec /cccurtarts V|ce C|a||¤ar D||ectc| Custc¤e| Ca|e /sscc|ate c
Varaç|rç D||ectc|
8hyamak ß. Iata 6. ß. Nava|kar Frashaot Mohta
|a|tre| Custc¤e| Ca|e /sscc|ate c Custc¤e| Ca|e /sscc|ate c
Vu¤ua|, Datec. 29 /p|||, 2011 C|cup C||el ||rarc|a| 0ll|ce| Cc¤par] Sec|eta|] c
V|ce ||es|cert - leça|
(A|| amouots |o |acs}
Notos Mar-11 Va|-10
80üß6E8 0F FüNß8
8hAßEh0IßEß8' FüNß8
S|a|e cap|ta| 3 4,108.34 3,191.13
0pt|cra||] Ccrve|t|u|e Wa||arts ~ 3,071.80
Rese|ves arc su|p|us 1 55,701.88 21,325.99
59,810.22 30,889.22
I0AN FüNß8
Secu|ec |cars 5 12,872.17 18,131.80
ursecu|ec |cars c 2,000.00 1,500.00
14,872.17 19,931.80
74,682.39 50,821.02
AFFII6AII0N 0F FüNß8
FIkEß A88EI8 7
C|css B|cc| 50,564.24 15,7c5.95
less. /ccu¤u|atec cep|ec|at|cr, a¤c|t|sat|cr 19,350.01 18,ccc.39
|et B|cc| 31,214.23 27,099.5c
Cap|ta| wc||-|r-p|cç|ess (|rc|uc|rç Cap|ta| acvarces 4,464.61 2,7c7.71
1,118.22 |acs, 2010 . 958.17 |acs} 35,678.84 29,8c7.30
INvE8IMENI8 8 23,719.34 11,9c7.15
ßEFEßßEß IAk A88EI (NEI} 27(u} 325.00 155.00
6üßßENI A88EI8, I0AN8 ANß AßvAN6E8
|rvertc||es 9 15,113.66 11,989.32
Surc|] ceutc|s 10 1,600.63 1,090.90
Cas| arc uar| ua|arces 11 261.81 303.71
0t|e| cu||ert assets 12 125.72 ÷
lcars arc acvarces 13 27,854.68 19,112.85
44,956.50 35,19c.78
Ioss: 6üßßENI IIAßIIIIIE8 ANß Fß0vI8I0N8 11
Cu||ert l|au|||t|es 29,042.22 2c,172.31
||cv|s|crs 955.07 790.20
29,997.29 2c,9c2.51
|et cu||ert assets 14,959.21 8,531.27
74,682.39 50,821.02
I|e accc¤par]|rç rctes 1 tc 10 a|e ar |rteç|a| pa|t cl t|e l|rarc|a| state¤erts.
8a|auce Sheet as at 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 82
|r te|¤s cl cu| |epc|t cl ever cate. |c| arc cr ue|a|l cl t|e Bca|c cl D||ectc|s
For ßo|o|tto hask|os 8 8o||s ß. 8. Nagosh ßav| ßahoja ßov|od 8. 8hr|khaodo
C|a|te|ec /cccurtarts V|ce C|a||¤ar D||ectc| Custc¤e| Ca|e /sscc|ate c
Varaç|rç D||ectc|
8hyamak ß. Iata 6. ß. Nava|kar Frashaot Mohta
|a|tre| Custc¤e| Ca|e /sscc|ate c Custc¤e| Ca|e /sscc|ate c
Vu¤ua|, Datec. 29 /p|||, 2011 C|cup C||el ||rarc|a| 0ll|ce| Cc¤par] Sec|eta|] c
V|ce ||es|cert - leça|
(A|| amouots |o |acs}
Notos Mar-11 Va|-10
IN60ME
ßota|| Iuroovor
0wr ¤e|c|arc|se (|rc|uc|rç ccrcess|cr sa|es} 2(e} 172,583.12 111,583.75
Ccrs|çr¤ert ¤e|c|arc|se 18,130.30 13,071.07
0t|e| Reta|| cpe|at|rç |rcc¤e 15 2,186.88 2,178.93
21 192,900.30 15c,83c.75
less. Va|ue /ccec Ia· 8,960.24 c,85c.81
less. Ccst cl ccrs|çr¤ert ¤e|c|arc|se 12,965.82 9,129.83
170,974.24 110,550.08
0t|e| |rcc¤e 1c 945.47 c31.17
171,919.71 111,181.25
EkFENßIIüßE
Ccst cl çcccs sc|c 17 108,900.73 88,99c.23
E¤p|c]ee ccsts 18 9,898.37 8,758.55
0pe|at|rç arc ac¤|r|st|at|ve e·perses 19 37,189.48 31,700.27
|rte|est arc l|rarce c|a|çes 20 1,453.77 2,211.35
Dep|ec|at|cr arc /¤c|t|sat|cr 7 3,099.88 3,102.51
160,542.23 131,801.91
Fß0FII ßEF0ßE Ek6EFII0NAI IIEM8 ANß IAk 11,377.48 c,379.31
E·cept|cra| |te¤ 35 (5.10} (187.72}
Fß0FII ßEF0ßE IAk 11,382.58 c,5c7.03
Ia· C|a|çe 27(a} 3,865.00 1,513.98
NEI Fß0FII AFIEß IAk 7,517.58 5,023.05
ßAIAN6E ßß0üßhI F0ßWAßß Fß0M FßEvI0ü8 ¥EAß 2,685.19 (1,17c.00}
10,202.77 3,517.05
AFFß0FßIAII0N8
I|arsle| tc Cere|a| Rese|ve 375.88 251.15
||cpcsec D|v|cerc 616.26 523.72
Cc|pc|ate D|v|cerc Ia· 79.58 8c.99
ßAIAN6E 6AßßIEß I0 ßAIAN6E 8hEEI 9,131.05 2,c85.19
Earo|ogs por sharo
(Equ|ty sharos, Iaco va|uo oI 5/- por sharo} 31
Bas|c (} 9.52 c.c1
D||utec (} 9.42 c.53
I|e accc¤par]|rç |ctes 1 tc 10 a|e ar |rteç|a| pa|t cl t|e l|rarc|a| state¤erts.
Profit aud Loss Accouut
for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 83
Statemeut of Cash F|ows for the year euded 31 March, 2O11
(A|| amouots |o |acs}
Mar-11 Va|-10
6ash I|ows Irom oporat|og act|v|t|os
Not proI|t boIoro tax 11,382.58 c,5c7.03
Adjustmoots Ior:
Dep|ec|at|cr arc /¤c|t|sat|cr 3,099.88 3,102.51
|rte|est arc l|rarce c|a|çes 1,453.77 2,211.35
||cl|t cr sa|e cl l|·ec assets (37.22} (117.29}
D|v|cerc |ece|vec (125.72} ÷
|rte|est |rcc¤e (720.21} (375.10}
0porat|og proI|t boIoro work|og cap|ta| chaogos 15,053.08 11,391.23
Adjustmoots Ior:
I|ace arc ct|e| |ece|vau|es (ct|e| t|ar |ease cepcs|ts} (970.08} 1,021.15
lease cepcs|ts (ret} (341.58} 213.c3
|rvertc||es (2,449.40} (191.22}
I|ace arc ct|e| pa]au|es 5,525.19 (282.c2}
6ash goooratod Irom oporat|oos 16,817.21 11,852.17
|rcc¤e ta·es pa|c (ret cl |elurcs} (3,093.68} (1,c2c.81}
Not cash Irom oporat|og act|v|t|os 13,723.53 10,225.cc
6ash I|ow Irom |ovost|og act|v|t|os
|u|c|ase cl l|·ec assets (11,314.06} (7,300.13}
Sa|e cl l|·ec assets 188.82 c55.01
lcars c acvarces tc suus|c|a||es (ret} (8,587.06} (3,9c0.11}
lcars c acvarces tc asscc|ates (ret} ~ 1,1c1.90
|rvest¤ert |r suus|c|a||es (11,361.32} (950.00}
|rvest¤ert |r jc|rt vertu|es (390.57} (1,272.89}
|rte|est |ece|vec 722.13 373.57
Ccrs|ce|at|cr |ece|vec cr t|arsle| cl c|csswc|c uus|ress (|ele| rcte 2 ue|cw} 2,000.00 ÷
Not cash usod |o |ovost|og act|v|t|os (28,742.05} (11,289.98}
6ash I|ows Irom I|oaoc|og act|v|t|os
||cceecs l|c¤ |ssue cl s|a|e cap|ta| 616.91 1.83
Secu||t|es p|e¤|u¤ cr |ssue cl s|a|e cap|ta| |ece|vec 21,484.30 91.92
||cceecs l|c¤ |ssue cl cpt|cra||] ccrve|t|u|e wa||arts ~ 3,071.80
D|v|cerc arc c|v|cerc ta· pa|c (610.71} ÷
||cceecs l|c¤ |crç te|¤ uc||cw|rçs 2,000.00 ÷
Repa]¤ert cl |crç te|¤ uc||cw|rçs (9,668.12} (2,319.33}
S|c|t te|¤s |cars (ret} 4,105.49 (282.7c}
lcars l|c¤ suus|c|a||es 1,980.00 1,500.00
Repa]¤ert cl |cars tc suus|c|a||es (3,480.00} ÷
|rte|est arc l|rarce c|a|çes pa|c (1,453.77} (2,211.35}
Not cash Irom/(usod |o} I|oaoc|og act|v|t|os 14,974.10 (207.89}
Not ßocroaso |o cash aod cash oqu|va|oots (44.42} (1,272.21}
Cas| arc cas| ecu|va|erts as at ueç|rr|rç cl t|e ]ea| 280.84 1,553.05
Cas| arc cas| ecu|va|erts as at t|e erc cl t|e ]ea| 236.42 280.81
(44.42} (1,272.21}
Notos:
(1} Cas| arc Cas| Ecu|va|erts as pe| Ba|arce S|eet (see |cte 11} 261.81 303.71
less. Depcs|t urce| ||er 25.39 22.87
Cas| arc Cas| Ecu|va|erts as |epc|tec aucve 236.42 280.81
(2} Ccrs|ce|at|cr |ece|vau|e l|c¤ t|arsle| cl C|csswc|c uus|ress (see |cte 38} 2,639.53 ÷
less. cas| |ece|vec (2,000.00} ÷
Ba|arce ccrs|ce|at|cr |ece|vau|e as cr 31 Va|c| 2011 639.53 ÷
I|e accc¤par]|rç |ctes 1 tc 10 a|e ar |rteç|a| pa|t cl t|e l|rarc|a| state¤erts.
|r te|¤s cl cu| |epc|t cl ever cate. |c| arc cr ue|a|l cl t|e Bca|c cl D||ectc|s
For ßo|o|tto hask|os 8 8o||s ß. 8. Nagosh ßav| ßahoja ßov|od 8. 8hr|khaodo
C|a|te|ec /cccurtarts V|ce C|a||¤ar D||ectc| Custc¤e| Ca|e /sscc|ate c
Varaç|rç D||ectc|
8hyamak ß. Iata 6. ß. Nava|kar Frashaot Mohta
|a|tre| Custc¤e| Ca|e /sscc|ate c Custc¤e| Ca|e /sscc|ate c
Vu¤ua|, Datec. 29 /p|||, 2011 C|cup C||el ||rarc|a| 0ll|ce| Cc¤par] Sec|eta|] c
V|ce ||es|cert - leça|
Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 81
1. 60MFAN¥ ßA6kßß0üNß
S|cppe|s Stcp l|¤|tec ('SSl' c| 't|e Cc¤par]'} was |rcc|pc|atec cr 1c Jure 1997. I|e Cc¤par] |s erçaçec |r t|e uus|ress cl
|eta|||rç a va||et] cl |cuse|c|c arc ccrsu¤e| p|ccucts arc ucc|s t||cuç| cepa|t¤erta| stc|es. /s at 31 Va|c| 2011, t|e Cc¤par]
cpe|atec t||cuç| 12 suc| cepa|t¤erta| stc|es |ccatec |r c|lle|ert c|t|es cl |rc|a.
2. 8IßNIFI6ANI A660üNIINß F0II6IE8
a} ßas|s oI proparat|oo oI I|oaoc|a| statomoots
I|e l|rarc|a| state¤erts |ave ueer p|epa|ec urce| t|e ||stc||ca| ccst ccrvert|cr arc |r accc|carce w|t| Cere|a||] /cceptec
/cccurt|rç |||rc|p|es |rc|uc|rç app||cau|e /cccurt|rç Starca|cs |r |rc|a arc t|e p|cv|s|crs cl t|e Cc¤par|es /ct, 195c.
b} üso oI ost|matos
I|e p|epa|at|cr cl l|rarc|a| state¤erts |r ccrlc|¤|t] w|t| Cere|a||] /cceptec /cccurt|rç |||rc|p|es |ecu||es est|¤ates arc
assu¤pt|crs tc ue ¤ace t|at allect t|e |epc|tec a¤curts cl assets arc ||au|||t|es arc c|sc|csu|e cl ccrt|rçert ||au|||t|es cr t|e
cate cl t|e l|rarc|a| state¤erts arc t|e |epc|tec a¤curts cl |everues arc e·perses cu||rç t|e |epc|t|rç pe||cc. /ctua| |esu|ts
ccu|c c|lle| l|c¤ t|cse est|¤ates arc c|lle|erces uetweer actua| |esu|ts arc est|¤ates a|e |eccçr|sec |r t|e pe||ccs |r w||c|
t|e |esu|ts a|e |rcwr/¤ate||a||se.
c} F|xod Assots aod ßoproc|at|oo
Iaog|b|o Assots
||·ec assets a|e statec at t|e|| c||ç|ra| ccst cl accu|s|t|cr |ess accu¤u|atec cep|ec|at|cr arc |¤pa||¤ert |csses. Ccst cc¤p||ses
cl a|| ccsts |rcu||ec tc u||rç t|e assets tc t|e|| |ccat|cr arc wc|||rç ccrc|t|cr arc |rc|uces a|| e·perses |rcu||ec up tc t|e cate
cl |aurc||rç rew stc|es tc t|e e·tert t|e] a|e att||uutau|e tc t|e rew stc|es.
Dep|ec|at|cr |s p|cv|cec, p|c |ata lc| t|e pe||cc cl use, u] t|e st|a|ç|t ||re ¤et|cc (SlV}, uasec cr ¤araçe¤erts est|¤ate cl
uselu| ||ves cl t|e l|·ec assets, c| at t|e SlV |ates p|esc||uec |r Sc|ecu|e /|V tc t|e /ct w||c|eve| |s ||ç|e|, at t|e lc||cw|rç
arrua| |ates.
/|| ccrc|t|cr|rç arc ct|e| ecu|p¤ert 5.00÷20.00
|u|r|tu|e, l|·tu|es arc ct|e| l|tt|rçs c.33÷20.00
Cc¤pute|s 1c.21÷33.33
Ve||c|es 9.50
lease|c|c |¤p|cve¤erts 5.82÷20.00
Iotaog|b|o Assots
|rtarç|u|e assets a|e statec at t|e|| ccst cl accu|s|t|cr, |ess accu¤u|atec a¤c|t|sat|cr arc |¤pa||¤ert |csses. /r |rtarç|u|e
asset |s |eccçr|sec, w|e|e |t |s p|cuau|e t|at t|e lutu|e eccrc¤|c uerel|ts att||uutau|e tc t|e asset w||| l|cw tc t|e erte|p||se
arc w|e|e |ts ccst car ue |e||au|] ¤easu|ec. I|e |rtarç|u|e assets a|e a¤c|t|sec cve| t|e uest est|¤ate cl |ts uselu| ||le cr a
st|a|ç|t-||re uas|s.
I|ace¤a||s c |aterts arc Cc¤pute| Scltwa|e a|e a¤c|t|sec ur|lc|¤|] cve| a pe||cc cl 10 arc c ]ea|s |espect|ve|].
Siguificaut Accouutiug Po|icies aud lotes formiug part of
Fiuaucia| Statemeuts for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 85
Impa|rmoot oI assots
/r asset |s ccrs|ce|ec as |¤pa||ec |r accc|carce w|t| /cccurt|rç Starca|c 28 cr |¤pa||¤ert cl /ssets w|er at t|e ua|arce
s|eet cate t|e|e a|e |rc|cat|crs cl |¤pa||¤ert arc t|e ca||]|rç a¤curt cl t|e asset, c| w|e|e app||cau|e, cl t|e cas| çere|at|rç
ur|t tc w||c| t|e asset ue|crçs, e·ceecs |ts |eccve|au|e a¤curt (|.e. t|e ||ç|e| cl t|e asset's ret se|||rç p||ce arc va|ue |r use}.
I|e ca||]|rç a¤curt |s |ecucec tc t|e |eccve|au|e a¤curt arc t|e |ecuct|cr |s |eccçr|sec as ar |¤pa||¤ert |css |r t|e p|cl|t
arc |css acccurt.
d} Iovostmoots
lcrç-te|¤ |rvest¤erts a|e statec at ccst. W|e|e app||cau|e, p|cv|s|cr |s ¤ace tc |eccçr|se a cec||re, ct|e| t|ar te¤pc|a|], |r
t|e va|ue cl lcrç-te|¤ |rvest¤erts.
o} ßovoouo rocogo|t|oo
Reverue |s |eccçr|sec w|er |t |s ea|rec arc rc s|çr|l|cart urce|ta|rt] e·|sts as tc |ts |ea||sat|cr c| cc||ect|cr.
Reta|| sa|es a|e |eccçr|sec cr ce||ve|] cl t|e ¤e|c|arc|se tc t|e custc¤e|, w|er t|e p|cpe|t] |r çcccs arc s|çr|l|cart ||s|s arc
|ewa|cs a|e t|arsle||ec lc| a p||ce arc rc ellect|ve cwre|s||p ccrt|c| |s |eta|rec.
I|e p|cpe|t] |r t|e ¤e|c|arc|se cl t|||c pa|t] ccrcess|cr stc|es |ccatec w|t||r t|e ¤a|r cepa|t¤erta| stc|e cl t|e Cc¤par]
passes tc t|e Cc¤par] crce a custc¤e| cec|ces tc pu|c|ase ar |te¤ l|c¤ t|e ccrcess|cr stc|e. I|e Cc¤par] |r tu|r se||s t|e
|te¤ tc t|e custc¤e| arc |s accc|c|rç|] |rc|ucec urce| Reta|| Sa|es.
I|e p|cpe|t] |r t|e ¤e|c|arc|se cl t|||c pa|t] ccrs|çr¤ert stcc| cces rct pass tc t|e Cc¤par]. S|rce, |cweve|, t|e sa|e
cl suc| stcc| lc|¤s a pa|t cl t|e act|v|t|es cl t|e Cc¤par]s cepa|t¤erta| stc|es, t|e ç|css sa|es va|ues arc ccst cl t|e
¤e|c|arc|se a|e c|sc|csec sepa|ate|] arc lc|¤ pa|t cl tcta| Reta|| Iu|rcve| |r t|e p|cl|t arc |css acccurt.
Sa|es a|e ret cl c|sccurts. Va|ue /ccec Ia· arc Sa|es Ia· a|e |ecucec l|c¤ Reta|| Iu|rcve|.
|r |espect cl ç|lt vcuc|e|s arc pc|rt awa|c sc|e¤es cpe|atec u] t|e Cc¤par], sa|es a|e |eccçr|sec w|er t|e ç|lt vcuc|e|s c|
pc|rts a|e |ecee¤ec arc t|e ¤e|c|arc|se |s sc|c tc t|e custc¤e|.
Reverue l|c¤ stc|e c|sp|a]s arc spcrsc|s||ps a|e |eccçr|sec uasec cr t|e pe||cc lc| w||c| t|e p|ccucts c| t|e spcrsc|s'
acve|t|se¤erts a|e p|c¤ctec/c|sp|a]ec. |ac|||t] ¤araçe¤ert lees a|e |eccçr|sec p|c-|ata cve| t|e pe||cc cl t|e ccrt|act.
I} Iocomo Irom Iovostmoots aod Ioaos
|rte|est |rcc¤e |s |eccçr|sec cr t|¤e p|cpc|t|cr uas|s. D|v|cerc |rcc¤e |s |eccçr|sec w|er ||ç|t tc |ece|ve pa]¤ert |s
estau||s|ec.
g} Iovootor|os
|rvertc||es a|e va|uec at t|e |cwe| cl ccst arc ret |ea||sau|e va|ue. Ccst cl |rvertc||es cc¤p||ses a|| ccsts cl pu|c|ase arc ct|e|
ccsts |rcu||ec |r u||rç|rç t|e |rvertc||es tc t|e|| p|esert ccrc|t|cr arc |ccat|cr. Ccst |s cete|¤|rec u] t|e we|ç|tec ave|açe
ccst ¤et|cc.
Ve|c|arc|se |ece|vec urce| ccrs|çr¤ert arc ccrcess|cra||e a||arçe¤erts ue|crç tc t|e ccrs|çrc|s/ccrcess|cra||es arc a|e
t|e|elc|e e·c|ucec l|c¤ t|e Cc¤par]'s |rvertc||es.
h} Emp|oyoo boooI|ts
Cc¤persat|cr tc e¤p|c]ees lc| se|v|ces |erce|ec |s ¤easu|ec arc acccurtec lc| |r accc|carce w|t| /cccurt|rç Starca|c 15
cr E¤p|c]ee Berel|ts.
Siguificaut Accouutiug Po|icies aud lotes formiug part of
Fiuaucia| Statemeuts for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 8c
E¤p|c]ee Berel|ts suc| as sa|a||es, a||cwarces, rcr-¤creta|] uerel|ts arc e¤p|c]ee uerel|ts urce| cel|rec ccrt||uut|cr p|ars
suc| as p|cv|cert arc ct|e| lurcs, w||c| la|| cue lc| pa]¤ert w|t||r a pe||cc cl twe|ve ¤crt|s alte| |erce||rç se|v|ce, a|e
c|a|çec as e·perse tc t|e p|cl|t arc |css acccurt |r t|e pe||cc |r w||c| t|e se|v|ce |s |erce|ec.
E¤p|c]ee Berel|ts urce| cel|rec uerel|t p|ars arc ct|e| |crç-te|¤ e¤p|c]ee uerel|ts suc| as ç|atu|t] arc cc¤persatec
auserces w||c| la|| cue lc| pa]¤ert alte| cc¤p|et|cr/cessat|cr cl e¤p|c]¤ert c| alte| a pe||cc cl twe|ve ¤crt|s l|c¤
|erce||rç se|v|ce, a|e ¤easu|ec u] t|e p|cjectec ur|t c|ec|t ¤et|cc, uasec cr actua||a| va|uat|crs, at eac| ua|arce s|eet cate,
ca|||ec cut u] |rcepercert actua||es. I|e Cc¤par]'s cu||çat|crs |eccçr|sec |r t|e ua|arce s|eet |ep|esert t|e p|esert va|ue
cl cu||çat|crs as |ecucec u] t|e la|| va|ue cl p|ar assets, w|e|e app||cau|e.
/ctua||a| Ca|rs arc |csses a|e |eccçr|sec |¤¤ec|ate|] |r t|e ||cl|t arc lcss /cccurt.
|} 0porat|og Ioaso
0pe|at|rç lease pa]¤erts a|e |eccçr|sec as ar e·perse |r t|e ||cl|t c lcss /cccurt cr a st|a|ç|t-||re uas|s c| ct|e| s]ste¤at|c
uases ¤c|e |ep|esertat|ve cl t|e t|¤e patte|r cl t|e use|'s uerel|t.
j} ßorrow|og costs
Bc||cw|rç ccsts att||uutau|e tc t|e accu|s|t|cr c| ccrst|uct|cr cl cua||l]|rç assets, as cel|rec |r /cccurt|rç Starca|c 1c cr
Bc||cw|rç Ccsts, a|e cap|ta||sec as pa|t cl t|e ccst cl accu|s|t|cr. 0t|e| uc||cw|rç ccsts a|e e·persec as |rcu||ec.
k} Foro|go curroocy traosact|oos
I|arsact|crs |r lc|e|çr cu||erc|es a|e acccurtec at t|e p|eva|||rç |ates cl e·c|arçe cr t|e cate cl t|arsact|cr.
Vcreta|] |te¤s cerc¤|ratec |r lc|e|çr cu||erc|es, a|e |estatec at t|e p|eva|||rç |ates cl e·c|arçe at t|e Ba|arce S|eet cate.
/|| ça|rs arc |csses a||s|rç cut cl l|uctuat|crs |r e·c|arçe |ates a|e acccurtec lc| |r t|e ||cl|t arc lcss /cccurt.
E·c|arçe c|lle|erces cr lc|wa|c e·c|arçe ccrt|acts, erte|ec |rtc lc| |ecç|rç lc|e|çr e·c|arçe l|uctuat|cr ||s| |r |espect
cl ar urce||]|rç asset/||au|||t], a|e |eccçr|sec |r t|e ||cl|t arc lcss /cccurt |r t|e |epc|t|rç pe||cc |r w||c| t|e e·c|arçe
|ate c|arçes. ||e¤|u¤/ D|sccurt cr lc|wa|c e·c|arçe ccrt|acts a|e |eccçr|sec as ar e·perse/|rcc¤e cve| t|e ||le cl t|e
ccrt|act.
|} Iocomo-tax
|rcc¤e-ta·es a|e acccurtec lc| |r accc|carce w|t| /cccurt|rç Starca|c 22 cr /cccurt|rç lc| Ia·es cr |rcc¤e. Ia·es cc¤p||se
uct| cu||ert arc cele||ec ta·.
||cv|s|cr lc| cu||ert ta· |s ¤ace ta||rç |rtc acccurt ac¤|ss|u|e a||cwarces, c|sa||cwarces urce| t|e p|cv|s|crs cl |rcc¤e-ta·
/ct, 19c1, us|rç t|e app||cau|e ta· |ates.
Dele||ec ta· |esu|t|rç l|c¤ t|e t|¤|rç c|lle|erces uetweer ta·au|e |rcc¤e arc acccurt|rç |rcc¤e |s acccurtec us|rç app||cau|e
ta· |ates arc |aws, eractec c| suustart|ve|] eractec as at t|e Ba|arce S|eet.
I|e cele||ec ta· asset |s |eccçr|sec arc ca|||ec lc|wa|c cr|] tc t|e e·tert t|at t|e|e |s |eascrau|e/v||tua| ce|ta|rt] t|at t|e
asset w||| ue |ea||sec |r lutu|e.
m} 8tock-basod compoosat|oo
I|e cc¤persat|cr ccst cl stcc| cpt|crs ç|artec tc e¤p|c]ees |s ca|cu|atec us|rç t|e |rt||rs|c va|ue cl t|e stcc| cpt|crs. I|e
cc¤persat|cr e·perse |s a¤c|t|sec ur|lc|¤|] cve| t|e vest|rç pe||cc cl t|e cpt|cr.
o} Earo|ogs For 8haro
I|e cc¤par] |epc|ts uas|c arc c||utec Ea|r|rçs |e| S|a|e (E|S} |r accc|carce w|t| /cccurt|rç Starca|c 20 cr Ea|r|rçs |e|
Siguificaut Accouutiug Po|icies aud lotes formiug part of
Fiuaucia| Statemeuts for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 87
S|a|e. Bas|c E|S |s cc¤putec u] c|v|c|rç t|e ret p|cl|t c| |css lc| t|e ]ea| u] t|e we|ç|tec ave|açe ru¤ue| cl ecu|t] s|a|es
cutstarc|rç cu||rç t|e ]ea|. D||utec E|S |s cc¤putec u] c|v|c|rç t|e ret p|cl|t c| |css lc| t|e ]ea| u] t|e we|ç|tec ave|açe
ru¤ue| cl ecu|t] s|a|es cutstarc|rç cu||rç t|e ]ea| as acjustec lc| t|e ellects cl a|| c||ut|ve pctert|a| ecu|t] s|a|es, e·cept
w|e|e t|e |esu|ts a|e art|-c||ut|ve.
o} 6ash F|ow 8tatomoot
I|e Cas| ||cw State¤ert |s p|epa|ec u] t|e |rc||ect ¤et|cc set cut |r /cccurt|rç Starca|c 3 cr Cas| ||cw State¤erts arc
p|eserts t|e cas| l|cws u] cpe|at|rç, |rvest|rç arc l|rarc|rç act|v|t|es cl t|e Cc¤par]. Cas| arc cas| ecu|va|erts p|esertec
|r t|e Cas| ||cw State¤ert ccrs|st cl cas|-cr-|arc arc urercu¤ue|ec uar| ua|arces.
p} Frov|s|oo, 6oot|ogoot I|ab|||t|os aod 6oot|ogoot Assots
||cv|s|crs |rvc|v|rç suustart|a| ceç|ee cl est|¤at|cr |r ¤easu|e¤ert a|e |eccçr|sec w|er t|e|e |s a p|esert cu||çat|cr as a
|esu|t cl past everts arc |t |s p|cuau|e t|at t|e|e w||| ue ar cutl|cw cl |escu|ces. Ccrt|rçert l|au|||t|es a|e rct |eccçr|sec uut
a|e c|sc|csec |r t|e rctes tc t|e l|rarc|a| state¤erts. D|sc|csu|e |s rct ¤ace |l t|e pcss|u|||t] cl ar cutl|cw cl lutu|e eccrc¤|c
uerel|ts |s |e¤cte. Ccrt|rçert assets a|e re|t|e| |eccçr|sec rc| c|sc|csec |r t|e l|rarc|a| state¤erts.
Siguificaut Accouutiug Po|icies aud lotes formiug part of
Fiuaucia| Statemeuts for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 88
(A|| amouots |o |acs}
Mar-11 Va|-10
3. 8hAßE 6AFIIAI
Author|sod
200,000,000 ecu|t] s|a|es cl 5/- eac| (2010. 100,000,000 cl 10 eac|}
(see |cte 3c} 10,000.00 10,000.00
Issuod aod 8ubscr|bod
82,1cc,83c ecu|t] s|a|es cl 5/- eac| lu||] pa|c-up (2010. 31,911,311
ecu|t] s|a|es cl 10/- eac| lu||] pa|c-up} (see |cte 37(|}} 4,108.34 3,191.13
4,108.34 3,191.13
urce| E¤p|c]ee Stcc| 0pt|cr Sc|e¤es t|e Cc¤par] |as ç|artec
(ret cl cpt|crs |apsec} .
a} 219,27c (2010 . 225,cc0} 0pt|crs |r 2001-05, cl w||c| 219,27c
vestec cpt|crs |ave ueer e·e|c|sec.
u} 118,351 (2010 . 152,902} 0pt|crs |r 2001-05, cl w||c| 118,351
vestec cpt|crs |ave ueer e·e|c|sec.
c} 112,5c2 (2010 . 115,970} 0pt|crs |r 2005-0c, cl w||c| 89,c30
vestec cpt|crs |ave ueer e·e|c|sec.
c} 1,011,cc0 (2010 . 1,025,100} 0pt|crs |r 2009-10, cl w||c| 253,5c0
vestec cpt|crs |ave ueer e·e|c|sec.
e} 389,000 (2010 . 100,000} 0pt|crs |r 2009-10, cl w||c| 13,200
vestec cpt|crs |ave ueer e·e|c|sec.
0l t|e aucve, 338,118 cpt|crs we|e e·e|c|sec cu||rç t|e ]ea|
|cte . Eac| cpt|cr ert|t|es t|e |c|ce| t|e|ecl tc app|] lc| arc ue a||cttec
1 0|c|ra|] S|a|es cl t|e lace va|ue cl 5 eac|.
4. ßE8EßvE8 ANß 8üßFIü8
8ocur|t|os From|um Accouot:
Ba|arce at ueç|rr|rç cl t|e ]ea| 21,068.21 20,9c1.c1
/cc. Rece|vec cu||rç t|e ]ea| (see |cte 37(|}} 24,954.26 103.c0
less. ut|||sec lc| s|a|e |ssue e·perses 385.07 ÷
45,637.40 21,0c8.21
ßooora| ßosorvo
Ba|arce at ueç|rr|rç cl t|e ]ea| 552.45 301.30
I|arsle||ec l|c¤ ||cl|t arc lcss /cccurt 375.88 251.15
928.33 552.15
ßa|aoco |o FroI|t aod Ioss Accouot 9,131.05 2,c85.19
E¤p|c]ees Stcc| 0pt|crs cutstarc|rç (see |cte 30(c}(|v}} 5.10 20.11
55,701.88 21,325.99
5. 8E6üßEß I0AN8
From baoks (ßoIor ooto bo|ow}
Ie|¤ lcars 2,000.00 9,cc8.12
Cas| C|ec|t 3,560.52 1,309.19
Wc|||rç Cap|ta| De¤arc lcars 7,014.13 7,005.c9
Bu]e|s C|ec|t 297.52 151.80
12,872.17 18,131.80
Noto:
Ie|¤ lcars, Cas| C|ec|t |ac|||t|es, Wc|||rç Cap|ta| De¤arc lcars arc Bu]e|s C|ec|t a|e secu|ec u] a l||st c|a|çe cr a|| ¤cvau|e tarç|u|e
p|cpe|t|es arc ar e·c|us|ve ||er cr |ease cepcs|ts arc cr a|| cu||ert assets cl t|e Cc¤par], uct| p|esert arc lutu|e.
6. üN8E6üßEß I0AN8
Cc¤¤e|c|a| |ape| ' 2,000.00 ÷
||c¤ a Suus|c|a|] Cc¤par] ~ 1,500.00
2,000.00 1,500.00
' (Repa]au|e w|t||r cre ]ea| 2,000 |acs, Va·|¤u¤ a¤curt cutstarc|rç
cu||rç t|e ]ea| c,000 |acs}
lotes to Fiuaucia| Statemeuts
for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 89
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lotes to Fiuaucia| Statemeuts
for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 90
(A|| amouots |o |acs}
Mar-11 Va|-10
8. INvE8IMENI8 (Irado, |oog-torm at cost, uoquotod}
Io 8ubs|d|ary 6ompao|os:
S|cppe|s Stcp Se|v|ces (|rc|a} l|¤|tec
50,000 Ecu|t] S|a|es cl 10/- eac| |u||] |a|c 5.00 5.00
less. ||cv|s|cr lc| c|¤|rut|cr |r va|ue cl |rvest¤ert (5.00} (5.00}
~ ÷
upasra I|ac|rç l|¤|tec
5,000 Ecu|t] S|a|es cl 100/- eac| |u||] |a|c 5.00 5.00
less. ||cv|s|cr lc| c|¤|rut|cr |r va|ue cl |rvest¤ert (5.00} (5.00}
~ ~
S|cppe|s Stcp.cc¤ (|rc|a} l|¤|tec
50,000 Ecu|t] s|a|es cl 10/- eac| |u||] |a|c 5.00 5.00
less. ||cv|s|cr lc| c|¤|rut|cr |r va|ue cl |rvest¤ert (5.00} (5.00}
~ ÷
Catewa] Vu|t|c|arre| Reta|| (|rc|a} l|¤|tec
25,500 Ecu|t] s|a|es cl 10/- eac| |u||] |a|c 2.55 2.55
less. ||cv|s|cr lc| c|¤|rut|cr |r va|ue cl |rvest¤ert (2.55} (2.55}
~ ÷
C|csswc|c Bcc|stc|es l|¤|tec
95,c2,500 Ecu|t] s|a|es cl 10/- eac| |u||] |a|c 2,505.93 2,505.93
1,00,00,000, 5.5º Cu¤u|at|ve Reece¤au|e ||ele|erce S|a|es cl 10/- eac|
|u||] |a|c
1,000.00 1,000.00
|]pe|c|t] Reta|| (|rc|a} l|¤|tec '
1,81,500 (2010. |||} Ecu|t] S|a|es cl 10/- eac| |u||] |a|c 67.61 ÷
(3,01,000 Ecu|t] S|a|es pu|c|asec cu||rç t|e ]ea|}
13,10,70,000 (2010. |||}, 7º Cc¤pu|sc|||] Ccrve|t|u|e 14,182.20 ÷
||ele|erce S|a|es cl 10/- eac| |u||] pa|c
(9,11,70,000 ||ele|erce S|a|es pu|c|asec cu||rç t|e ]ea|}
1,12,20,000 (2010. |||}, 7º Cu¤u|at|ve Recee¤au|e 1,122.00 ÷
||ele|erce S|a|es cl 10/- eac| |u||] pa|c
(1,12,20,000 ||ele|erce S|a|es pu|c|asec cu||rç t|e ]ea|}
Io Jo|ot vooturo 6ompao|os:
I|¤etcre Erte|ta|r¤ert |||vate l|¤|tec
1,19,91,900 (2010. 80,89,211} Ecu|t] S|a|es cl 10/- eac| |u||] |a|c 1,199.49 808.92
(39,05,c8c Ecu|t] S|a|es pu|c|asec cu||rç t|e ]ea|}
|uarce C|cup (|rc|a} |||vate l|¤|tec
3,c1,10,000 Ecu|t] S|a|es cl 10/- eac| |u||] |a|c 3,641.00 3,c11.00
Io Assoc|ato 6ompaoy:
|]pe|c|t] Reta|| (|rc|a} l|¤|tec '
||| (2010. 1,80,500} Ecu|t] S|a|es cl 10/- eac| |u||] |a|c ~ 20.19
||| (2010. 3,99,00,000}, 7º Cu¤u|at|ve Recee¤au|e ~ 3,990.00
||ele|erce S|a|es cl 10/- eac| |u||] pa|c
0thors:
Sta|çate ||cpe|t|es |||vate l|¤|tec
1,000 Ecu|t] S|a|es cl 10/- eac| |u||] pa|c 0.10 0.10
Reta||e|s /sscc|at|cr cl |rc|a
10,000 Ecu|t] S|a|es cl 10/- eac| |u||] pa|c 1.00 1.00
/est|et|c Rea|tc|s |||vate l|¤|tec
cc Ecu|t] S|a|es cl 10/- eac| |u||] |a|c 0.01 0.01
23,719.34 11,9c7.15
' Beca¤e a Suus|c|a|] cc¤par] w.e.l. 30 Jure 2010
lotes to Fiuaucia| Statemeuts
for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 91
(A|| amouots |o |acs}
Mar-11 Va|-10
9. INvENI0ßIE8
(/t |cwe| cl ccst arc |et |ea||sau|e va|ue}
Reta|| ¤e|c|arc|se 15,113.66 11,989.32
10. 8üNßߥ ßEßI0ß8
(ursecu|ec}
Deuts cutstarc|rç lc| ¤c|e t|ar c ¤crt|s
Ccrs|ce|ec çccc 29.49 81.91
Ccrs|ce|ec ccuutlu| 12.40 1c.10
0t|e| Deuts, ccrs|ce|ec çccc ' 1,571.14 1,008.99
1,613.03 1,137.30
less. ||cv|s|cr lc| ccuutlu| ceuts 12.40 1c.10
1,600.63 1,090.90
' |rc|uces |ece|vau|e l|c¤ a suus|c|a|] cc¤par] cr acccurt cl
t|arsle| cl uus|ress c39.53 |acs (2010 . |||}
(see rcte 38}
11. 6A8h ANß ßANk ßAIAN6E8
Cas| cr |arc 179.87 155.09
Ba|arces w|t| sc|ecu|ec uar|s.
|r Cu||ert acccurts 56.55 125.75
|r Va|ç|r ¤cre] acccurts (urce| ||er aça|rst uar| çua|artee} 25.39 22.87
261.81 303.71
12. 0IhEß 6üßßENI A88EI8
D|v|cerc |ece|vau|e l|c¤ a suus|c|a|] cc¤par] 125.72 ÷
125.72 ÷
13. I0AN8 ANß AßvAN6E8
(ursecu|ec, ccrs|ce|ec çccc ur|ess ct|e|w|se statec}
lcars arc /cvarces tc suus|c|a|] cc¤par|es 15,081.87 c,191.82
(|rc|uces ccuutlu| acvarces cl 2,291.00 |acs, 2010. 2,29c.10 |acs}
lcars arc /cvarces tc ct|e| ç|cup cc¤par|es 335.47 311.50
/cvarces |eccve|au|e |r cas| c| |r ||rc c| lc| va|ue tc ue |ece|vec.
Ccrs|ce|ec çccc 3,994.61 3,5c9.1c
Ccrs|ce|ec ccuutlu| 393.73 393.73
4,388.34 3,9c2.89
||e¤|ses arc ct|e| cepcs|ts 10,675.45 10,333.87
|rcc¤e-ta·es pa|c (ret cl ta· p|cv|s|crs} 58.28 c99.c0
30,539.41 21,802.c8
less. ||cv|s|cr lc| ccuutlu| acvarces 2,684.73 2,c89.83
27,854.68 19,112.85
lcars tc suus|c|a|] cc¤par|es cc¤p||se cl.
÷ lcars ç|ver tc |]pe|c|t] Reta|| (|rc|a} l|¤|tec 12,5c5.51 |acs
(2010 . 1,159.12 |acs} (I|e ¤a·|¤u¤ cutstarc|rç cu||rç t|e ]ea| was
13,c85.15 |acs, 2010 . 5,03c.c5 |acs}.
÷ lcars ç|ver tc Catewa] Vu|t|c|arre| Reta|| (|rc|a} l|¤|tec 2,291 |acs
(2010 . 2,29c.10 |acs} (I|e ¤a·|¤u¤ cutstarc|rç cu||rç t|e ]ea| was
2,29c.10 |acs, 2010 . 2,183.82 |acs}.
lotes to Fiuaucia| Statemeuts
for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 92
(A|| amouots |o |acs}
Mar-11 Va|-10
14. 6üßßENI IIAßIIIIIE8 ANß Fß0vI8I0N8
Curreut |iabi|ities
Surc|] c|ec|tc|s (see rctes ue|cw}
÷ Icta| cutstarc|rç cues cl V|c|c arc S¤a|| erte|p||ses (see |cte (||} ue|cw} ~ ÷
÷ Icta| 0utstarc|rç Dues cl c|ec|tc|s ct|e| t|ar V|c|c arc S¤a|| erte|p||ses 27,711.00 25,288.38
Secu||t] cepcs|ts 238.30 2c1.81
0t|e| l|au|||t|es 1,092.92 c22.09
29,042.22 2c,172.31
Provisious
|c| ||cpcsec D|v|cerc 616.26 523.72
|c| Cc|pc|ate D|v|cerc Ia· 79.58 8c.99
|c| C|atu|t] 88.84 ÷
|c| leave Ercas|¤ert 170.39 179.19
955.07 790.20
29,997.29 2c,9c2.51
Notos:
|} Surc|] C|ec|tc|s |rc|uce a¤curts cue tc suus|c|a|] cc¤par|es.
S|cppe|s Stcp Se|v|ces (|rc|a} l|¤|tec ||| |acs (2010. 2.c7 |acs}
S|cppe|s Stcp.cc¤ (|rc|a} l|¤|tec ||| |acs (2010. 2.01 |acs}
upasra I|ac|rç l|¤|tec 98.11 |acs (2010. c5.07 |acs}
||} I|e Cc¤par] |as rct |ece|vec ar] |rt|¤at|cr l|c¤ supp||e|s urce| t|e
V|c|c S¤a|| arc Vec|u¤ Erte|p||ses Deve|cp¤ert /ct, 200c arc t|e|elc|e
c|sc|csu|es, |l ar], |e|at|rç tc a¤curts urpa|c as at t|e ]ea| erc tcçet|e| w|t|
|rte|est pa|c/pa]au|e as |ecu||ec urce| t|e sa|c /ct |ave rct ueer ç|ver.
15. 0IhEß ßEIAII 0FEßAIINß IN60ME
|ac|||t] ¤araçe¤ert lees 826.36 c31.17
|rcc¤e l|c¤ stc|e c|sp|a]s arc spcrsc|s||p |rcc¤e 606.81 15c.12
D||ect ¤a||et|rç |rcc¤e 753.71 128.1c
Re||rcu|s|¤ert cl ceve|cp¤ert ||ç|ts ~ cc0.18
2,186.88 2,178.93
16. 0IhEß IN60ME
D|v|cerc l|c¤ a suus|c|a|] cc¤par] 125.72 ÷
|rte|est |rcc¤e 720.21 375.10
[Ia· cecuctec at scu|ce c1.22 |acs (2010. 1.21 |acs[
||cl|t cr sa|e cl l|·ec assets (ret} 37.22 117.29
|c|e|çr e·c|arçe ça|r (ret} ~ 51.13
V|sce||arecus |rcc¤e arc c|ec|ts 62.32 57.05
945.47 c31.17
17. 608I 0F ß00ß8 80Iß
(|rc|uc|rç ccrcess|cr pu|c|ases}
0per|rç stcc| 14,989.32 11,198.10
/cc. |u|c|ases 111,350.13 89,187.15
less./cjust¤ert cr acccurt cl t|arsle| cl uus|ress tc
C|csswc|c Bcc|stc|es l|¤|tec (see |cte 38} 2,325.06 ÷
less. C|cs|rç stcc| 15,113.66 11,989.32
108,900.73 88,99c.23
lotes to Fiuaucia| Statemeuts
for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 93
(A|| amouots |o |acs}
Mar-11 Va|-10
18. EMFI0¥EE 608I8
Sa|a||es, a||cwarces arc ucrus 9,034.17 7,951.70
Ccrt||uut|cr tc p|cv|cert arc ct|e| lurcs 432.78 3c8.87
C|atu|t] arc |eave ercas|¤ert 161.03 238.38
Stall we|la|e e·perses 270.39 199.c0
9,898.37 8,758.55
19. 0FEßAIINß ANß AßMINI8IßAIIvE EkFEN8E8
|rsu|arce 89.82 57.1c
lease |ert arc |||e C|a|çes 15,228.80 13,7cc.3c
Bus|ress ccrcuct|rç lees 931.68 98c.1c
Rates arc ta·es 52.51 13.78
Repa||s arc ¤a|rterarce
÷ Bu||c|rçs 3,299.46 2,171.c1
÷ 0t|e|s 589.38 552.81
leça| arc p|cless|cra| lees 287.67 112.cc
|cuse|eep|rç c|a|çes 626.49 179.88
Secu||t] c|a|çes 994.25 701.11
Cc¤pute| e·perses 714.54 791.79
Ccrve]arce arc t|ave|||rç e·perses 851.32 723.85
E|ect||c|t] c|a|çes 3,665.18 3,193.92
/cve|t|se¤ert arc puu||c|t] 2,439.93 1,c02.c1
Sa|es p|c¤ct|cr 1,769.58 1,872.31
C|a|çes cr c|ec|t ca|c t|arsact|crs 1,158.63 889.90
|ac||rç ¤ate||a|s 667.38 185.72
||cv|s|cr lc| Dcuutlu| ceuts/acvarces ~ 127.73
|c|e|çr e·c|arçe |css (ret} 37.06 ÷
Se|v|ce ta· |rput c|ec|t e·persec 1,732.14 753.37
V|sce||arecus e·perses 2,053.66 1,150.55
37,189.48 31,700.27
20. INIEßE8I ANß FINAN6E 6hAßßE8
|rte|est
0r l|·ec |cars l|c¤ uar|s 709.37 1,193.c5
0r ct|e| |cars 640.10 c90.51
||rarce c|a|çes 104.30 c0.19
1,453.77 2,211.35
21. Reta|| Iu|rcve| |r t|e ||cl|t arc lcss acccurt |rc|cates t|e ç|css vc|u¤es cl uus|ress arc cpe|at|crs.
22. Est|¤atec a¤curt cl ccrt|acts |e¤a|r|rç tc ue e·ecutec cr cap|ta| acccurt arc
rct p|cv|cec lc| 3,194.26 2,311.c3
23. 60NIINßENI IIAßIIIIIE8 IN ßE8FE6I 0F:
a} Cua|artee ç|ver lc| |car ta|er u] Jc|rt vertu|e cc¤par|es l|c¤ uar|s 1,338.57 1,190.00
u} C|a|¤s aça|rst t|e Cc¤par] rct ac|rcw|ecçec as ceuts cc¤p||se cl.
(|} D|sputec |rcc¤e ta· ¤atte|s |r appea| 535.91 215.12
(||} D|sputec sa|es ta· ¤atte|s |r appea| 16.46 128.c3
(|||} D|sputec Custc¤s Dut] 17.09 21.00
c} Ccrt|rçert ccrt|actua| c|a|¤s 236.19 23c.19
c} 0t|e|s 52.25 ÷
Noto: |utu|e cas| cutl|cws |r |espect cl (u} aucve a|e cete|¤|rau|e cr|] cr |ece|pt cl jucçe¤erts/cec|s|crs perc|rç w|t| va||cus
lc|u¤s/aut|c||t|es.
lotes to Fiuaucia| Statemeuts
for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 91
24. 8EßvI6E IAk
|u|suart tc |ev] cl se|v|ce ta· cr |ert|rç cl |¤¤cveau|e p|cpe|t|es ç|ver lc| cc¤¤e|c|a| use, |et|cspect|ve|] w|t| ellect l|c¤ 1 Jure
2007 u] t|e ||rarce /ct, 2010, t|e Cc¤par] |as, uasec cr a |eça| acv|ce,c|a||erçec t|e sa|c |ev] arc, |rte|-a||a, |ts |et|cspect|ve
app||cat|cr |r va||cus ||ç| Ccu|ts. /r |rte||¤ sta] |as ueer ç|artec u] va||cus ||ç| Ccu|ts l|c¤ |eccve|] cl t|e sa|c se|v|ce ta· arc
t|e ¤atte| |s perc|rç. /ccc|c|rç|], t|e Cc¤par] |as rct p|cv|cec lc| se|v|ce ta· açç|eçat|rç tc 1,c19 |acs lc| t|e |et|cspect|ve
pe||cc uptc 31 Va|c| 2010, w||c| w||| ue app|cp||ate|] |eccçr|sec cr l|ra| cete|¤|rat|cr.
25. 8EßMENI ßEF0ßIINß
I|e Cc¤par] |s p||¤a|||] erçaçec |r t|e uus|ress cl |eta|| t|ace t||cuç| |eta|| arc cepa|t¤erta| stc|e lac|||t|es |r |rc|a, w||c| |r t|e
te|¤s cl /cccurt|rç Starca|c 17 cr Seç¤ert Repc|t|rç, ccrst|tutes a s|rç|e |epc|t|rç seç¤ert.
Mar-11 Va|-10
26. IEA8INß IßAN8A6II0N8
a} 0pe|at|rç |ease |erta|s c|a|çec tc |everue. 10,246.67 9,c19.c9
u} Va||au|e |erta|s c|a|çec tc |everue. 4,899.83 1,033.18
Va||au|e |ert lc| ce|ta|r stc|es |s pa]au|e |r accc|carce w|t| t|e |ease aç|ee¤ert
as t|e ||ç|e| cl.
(a} l|·ec ¤|r|¤u¤ çua|artee a¤curt arc (u} |everue s|a|e pe|certaçe.
c} I|e lutu|e ¤|r|¤u¤ |erta| pa]¤erts |r |espect cl rcr-carce||au|e |ease lc|
p|e¤|ses a|e as lc||cws.
|ct |ate| t|ar cre ]ea| 7,217.73 7,227.99
late| t|ar cre ]ea| arc rct |ate| t|ar l|ve ]ea|s 11,237.03 11,208.51
late| t|ar l|ve ]ea|s 1,351.99 1,c11.51
I|e aç|ee¤erts a|e e·ecutec lc| pe||ccs |arç|rç l|c¤ 33 tc 288 ¤crt|s w|t| a rcr-carce||au|e pe||cc at t|e ueç|rr|rç cl
t|e aç|ee¤ert |arç|rç l|c¤ 33 tc 108 ¤crt|s arc |av|rç a |erewau|e c|ause.
27. (A} IAk 6hAßßE
I|e ta· e·perse lc| t|e ]ea| cc¤p||ses cl.
Mar-11 Va|-10
|rcc¤e-ta·
÷ Cu||ert ta· 3,735.00 1,811.97
÷ Dele||ec ta· 130.00 (155.00}
÷ Ia· acjust¤erts/p|cv|s|cr lc| ea|||e| ]ea|s ~ 181.01
3,865.00 1,513.98
27. (ß} ßEFEßßEß IAk A88EI (NEI}
Vajc| cc¤pcrerts cl Dele||ec Ia· /sset arc l|au|||t] a|e as lc||cws.
Dele||ec ta· ||au|||t]
0r l|sca| a||cwarces cr l|·ec assets 126.87 ÷
126.87 ÷
Dele||ec Ia· /ssets
0r l|sca| a||cwarces cr l|·ec assets ~ 281.27
0r p|cv|s|cr lc| ccuutlu| ceuts/acvarces 340.60 59.1c
0r l|sca| a||cwarces cr e·perc|tu|e w|er pa|c 111.27 111.27
451.87 155.00
Dele||ec ta· asset (|et} 325.00 155.00
lotes to Fiuaucia| Statemeuts
for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 95
(A|| amouots |o |acs, uo|oss othorw|so statod}
28. ßEIAIEß FAßI¥ ßI86I08üßE8
|c||cw|rç a|e t|e ¤ate||a| t|arsact|crs w|t| |e|atec pa|t|es
Naturo 8ubs|d|ar|os 6ompao|os uodor
commoo cootro|/
s|go|I|caot
|oI|uooco (roIor
(c} bo|ow}
Jo|ot
vooturos
koy
Maoagomoot
Forsoooo|
Iota|
Furchaso oI Assots 0.17 ÷ ÷ ÷ 0.17
Catewa] Vu|t|c|arre| Reta|| (|rc|a} l|¤|tec ÷ ÷ ÷ ÷ ÷
|]pe|c|t] Reta|| (|rc|a} l|¤|tec 0.17 ÷ ÷ ÷ ÷
(20.c8} (1.18} ÷ ÷ (25.1c}
8a|o oI Assots ÷ ÷ ÷ ÷ ÷
|]pe|c|t] Reta|| (|rc|a} l|¤|tec ÷ ÷ ÷ ÷ ÷
÷ (10.58} ÷ ÷ (10.58}
8a|o oI Morchaod|so 11.19 ÷ 38.12 ÷ 19.c1
|uarce C|cup (|rc|a} |||vate l|¤|tec ÷ ÷ 38.12 ÷ ÷
|]pe|c|t] Reta|| (|rc|a} l|¤|tec 11.19 ÷ ÷ ÷ ÷
÷ (1.29} (c9.01} ÷ (70.33}
Faymoot oI cooduct|og Ioos/Ioaso ßoot/
6ommoo Aroa Ma|otooaoco 6hargos
c2.95 1,1c5.08 ÷ ÷ 1,228.03
|vc|] ||cpe|t|es arc |cte|s |||vate l|¤|tec ÷ 1,178.22 ÷ ÷ ÷
|rc|u|t Va||s (|rc|a} |||vate l|¤|tec ÷ 2,200.05 ÷ ÷ ÷
|]pe|c|t] Reta|| (|rc|a} l|¤|tec 27.15 ÷ ÷ ÷ ÷
I||cr ||cpe|t|es |||vate l|¤|tec ÷ 78c.81 ÷ ÷ ÷
C|csswc|c Bcc|stc|es l|¤|tec 35.81 ÷ ÷ ÷ ÷
÷ (3,807.c8} ÷ ÷ (3,807.c8}
Expoosos Fa|d 123.59 8.1c ÷ ÷ 132.05
upasra I|ac|rç l|¤|tec ÷ ÷ ÷ ÷ ÷
C|csswc|c Bcc|stc|es l|¤|tec 9.77 ÷ ÷ ÷ ÷
|]pe|c|t] Reta|| (|rc|a} l|¤|tec 113.82 ÷ ÷ ÷ ÷
K. Ra|eja Cc|p. |||vate l|¤|tec ÷ 8.1c ÷ ÷ ÷
(c80.37} (109.c9} ÷ ÷ (790.0c}
ß|v|dood ßoco|vod 125.72 ÷ ÷ ÷ 125.72
C|csswc|c Bcc|stc|es l|¤|tec 125.72 ÷ ÷ ÷ ÷
÷ ÷ ÷ ÷ ÷
IraosIor oI ßus|ooss 2,c39.53 ÷ ÷ ÷ 2,c39.53
C|csswc|c Bcc|stc|es l|¤|tec 2,c39.53 ÷ ÷ ÷ ÷
÷ ÷ ÷ ÷ ÷
Iotorost ßoco|vod c19.75 ÷ 22.18 ÷ c12.23
|]pe|c|t] Reta|| (|rc|a} l|¤|tec c19.75 ÷ ÷ ÷ ÷
I|¤etcre Erte|ta|r¤ert |vt. ltc. ÷ ÷ 22.18 ÷ ÷
÷ (328.13} (18.3c} ÷ (31c.19}
Iotorost Expoosos 127.85 ÷ ÷ ÷ 127.85
C|csswc|c Bcc|stc|es l|¤|tec 127.85 ÷ ÷ ÷ ÷
|vc|] ||cpe|t|es arc |cte|s |||vate l|¤|tec ÷ ÷ ÷ ÷ ÷
(35.53} (1.85} ÷ ÷ (37.38}
lotes to Fiuaucia| Statemeuts
for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 9c
8orv|co 6hargos Fa|d 1.19 ÷ ÷ ÷ 1.19
upasra I|ac|rç l|¤|tec ÷ ÷ ÷ ÷ ÷
S|cppe|s Stcp Se|v|ces (|rc|a} l|¤|tec 1.19 ÷ ÷ ÷ ÷
(12.55} ÷ ÷ ÷ (12.55}
ßopos|ts Fa|d 3c.10 121.55 ÷ ÷ 157.95
|]pe|c|t] Reta|| (|rc|a} l|¤|tec 3c.10 ÷ ÷ ÷ ÷
I||cr ||cpe|t|es |||vate l|¤|tec ÷ 121.55 ÷ ÷ ÷
|rc|u|t Va||s (|rc|a} |||vate l|¤|tec ÷ ÷ ÷ ÷ ÷
÷ (330.22} ÷ ÷ (330.22}
ßo|mbursomoot oI Expoosos 7.c5 531.91 13.37 ÷ 552.9c
|uarce C|cup (|rc|a} |||vate l|¤|tec ÷ ÷ 13.37 ÷ ÷
|]pe|c|t] Reta|| (|rc|a} l|¤|tec 7.c5 ÷ ÷ ÷ ÷
|rc|u|t Va||s (|rc|a} |||vate l|¤|tec ÷ 151.35 ÷ ÷ ÷
I||cr ||cpe|t|es |||vate l|¤|tec ÷ 80.59 ÷ ÷ ÷
÷ (51c.05} (19.11} ÷ (535.1c}
Expoosos rocovorod 0.71 ÷ 21.22 ÷ 21.93
|]pe|c|t] Reta|| (|rc|a} l|¤|tec 0.71 ÷ ÷ ÷ ÷
Catewa] Vu|t|c|arre| Reta|| (|rc|a} l|¤|tec ÷ ÷ ÷ ÷ ÷
|uarce C|cup (|rc|a} |||vate l|¤|tec ÷ ÷ 21.22 ÷ ÷
(1.30} (350.08} ÷ ÷ (351.38}
Iovostmoots mado 11,3c1.32 ÷ 390.57 ÷ 11,751.89
|]pe|c|t] Reta|| (|rc|a} l|¤|tec ÷ Ecu|t]
S|a|es
17.12 ÷ ÷ ÷ ÷
|]pe|c|t] Reta|| (|rc|a} l|¤|tec ÷ ||ele|erce
S|a|es
11,311.20 ÷ ÷ ÷ ÷
I|¤etcre Erte|ta|r¤ert |||vate l|¤|tec ÷ ÷ 390.57 ÷ ÷
÷ (950.00} (1,272.89} ÷ (2,222.89}
ßopos|t roco|vod back ÷ 3c.11 ÷ ÷ 3c.11
Catewa] Vu|t|c|arre| Reta|| (|rc|a} l|¤|tec ÷ ÷ ÷ ÷ ÷
K. Ra|eja |||vate l|¤|tec ÷ ÷ ÷ ÷ ÷
|vc|] ||cpe|t|es arc |cte|s |||vate l|¤|tec ÷ 3c.11 ÷ ÷ ÷
K. Ra|eja |I |a|| (|]ce|auac} |||vate
l|¤|tec
÷ ÷ ÷ ÷ ÷
(2.31} (17.81} ÷ ÷ (20.12}
Ioao ß|voo 1c,c00.00 ÷ ÷ ÷ 1c,c00.00
|]pe|c|t] Reta|| (|rc|a} l|¤|tec 1c,c00.00 ÷ ÷ ÷ ÷
I|¤etcre Erte|ta|r¤ert |||vate l|¤|tec ÷ ÷ ÷ ÷ ÷
÷ (8,951.50} (200.00} ÷ (9,151.50}
Ioao ßoco|vod 1,980.00 ÷ ÷ ÷ 1,980.00
C|csswc|c Bcc|stc|es l|¤|tec 1,980.00 ÷ ÷ ÷ ÷
(2,095.00} ÷ ÷ ÷ (2,095.00}
(A|| amouots |o |acs, uo|oss othorw|so statod}
Naturo 8ubs|d|ar|os 6ompao|os uodor
commoo cootro|/
s|go|I|caot
|oI|uooco (roIor
(c} bo|ow}
Jo|ot
vooturos
koy
Maoagomoot
Forsoooo|
Iota|
lotes to Fiuaucia| Statemeuts
for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 97
Ioao ropa|d 3,180.00 ÷ ÷ ÷ 3,180.00
C|csswc|c Bcc|stc|es l|¤|tec 3,180.00 ÷ ÷ ÷ ÷
(595.00} ÷ ÷ ÷ (595.00}
ßocovory oI Ioao 8,212.c0 ÷ ÷ ÷ 8,212.c0
|]pe|c|t] Reta|| (|rc|a} l|¤|tec 8,237.50 ÷ ÷ ÷ ÷
Catewa] Vu|t|c|arre| Reta|| (|rc|a} l|¤|tec 5.10 ÷ ÷ ÷ ÷
(187.72} (5,955.00} ÷ ÷ (c,112.72}
Issuo oI 8haros ÷ 12,287.20 ÷ ÷ 12,287.20
Raç|u|cc| Estate Deve|cp¤ert |||vate
l|¤|tec
÷ 1,100.85 ÷ ÷ ÷
Capstar I|ac|rç |||vate l|¤|tec ÷ 1,100.85 ÷ ÷ ÷
Casa Va||a ||cpe|t|es |||vate l|¤|tec ÷ 1,085.50 ÷ ÷ ÷
÷ ÷ ÷ ÷ ÷
Advaoco to ß|roctors ÷ ÷ ÷ ÷ ÷
÷ ÷ ÷ (211.0c} (211.0c}
ßomuoorat|oo to ß|roctors ÷ ÷ ÷ 3c9.71 3c9.71
÷ ÷ ÷ (171.92} (171.92}
ßa|aoco outstaod|og at tho yoar ood
Fayab|o
upasra I|ac|rç l|¤|tec 98.11
(c5.07} C|.
ßoco|vab|os
S|cppe|s Stcp Se|v|ces (|rc|a} l|¤|tec 0.02
(2.c7} C|.
S|cppe|s Stcp.Cc¤ (|rc|a} l|¤|tec 0.02
(2.01} C|.
|]pe|c|t] Reta|| (|rc|a} l|¤|tec 12,7c1.15
(1,372.75} D|.
|vc|] ||cpe|t|es arc |cte|s |||vate l|¤|tec 1,010.33
(1,082.c2} D|.
|rc|u|t Va||s (|rc|a} |||vate l|¤|tec c10.51
(c15.8c} D|.
Catewa] Vu|t|c|arre| Reta|| (|rc|a} l|¤|tec 2,290.97
(2,29c.07} D|.
I|¤etcre Erte|ta|r¤ert |||vate l|¤|tec 201.c8
(201.91} D|.
|uarce C|cup (|rc|a} |||vate l|¤|tec 133.79
(109.5c} D|.
I||cr ||cpe|t|es |||vate l|¤|tec 337.95
(21c.10} D|.
C|csswc|c Bcc|stc|es l|¤|tec 8c1.81
(1,1c0.38} D|.
Ke] Varaçe¤ert |e|scrre| ÷
(211.0c} D|.
I|e l|çu|e |r u|ac|et pe|ta|r tc p|ev|cus ]ea|.
(A|| amouots |o |acs, uo|oss othorw|so statod}
Naturo 8ubs|d|ar|os 6ompao|os uodor
commoo cootro|/
s|go|I|caot
|oI|uooco (roIor
(c} bo|ow}
Jo|ot
vooturos
koy
Maoagomoot
Forsoooo|
Iota|
lotes to Fiuaucia| Statemeuts
for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 98
Namos oI ro|atod part|os aod doscr|pt|oo oI ro|at|oosh|p:
(a} Suus|c|a||es upasra I|ac|rç l|¤|tec, S|cppe|s Stcp.cc¤ (|rc|a} l|¤|tec,
S|cppe|s Stcp Se|v|ces (|rc|a} l|¤|tec, C|csswc|c Bcc|stc|es l|¤|tec.
Catewa] Vu|t|c|arre| Reta|| (|rc|a} l|¤|tec.
|]pe|c|t] Reta|| (|rc|a} l|¤|tec. (w.e.l. 30 Jure 2010}
(u} ||c¤cte| c||ectc|s |av|rç ccrt|c|/s|çr|l|cart
|rl|uerce cve| cc¤par|es statec |r (c} ue|cw
C. l. Ra|eja, Rav| C. Ra|eja, |ee| C. Ra|eja
(c} Cc¤par|es |r w||c| t|e pe|scrs statec |r (u} aucve
|ave ccrt|c|/s|çr|l|cart |rl|uerce
|vc|] ||cpe|t|es arc |cte|s |||vate l|¤|tec, K. Ra|eja Cc|p. |||vate l|¤|tec
K. Ra|eja |||vate l|¤|tec, |rc|u|t Va||s (|rc|a} |||vate l|¤|tec
/vacacc ||cpe|t|es arc I|ac|rç |rc|a |||vate l|¤|tec, K. Ra|eja |I |a||
(|]ce|auac} |||vate l|¤|tec
I||cr ||cpe|t|es |||vate l|¤|tec
(c} Jc|rt Vertu|es |uarce C|cup (|rc|a} |||vate l|¤|tec
I|¤etcre Erte|ta|r¤ert |||vate l|¤|tec
(e} Ke] Varaçe¤ert |e|scrre| E·ecut|ve D||ectc|. Ccv|rc S|||||arce
|cr E·ecut|ve D||ectc|s. C|arc|u l. Ra|eja
Rav| Ra|eja
|ee| Ra|eja
B. S. |açes|
Cu|u l. V||c|arcar|
S|a|taac Da|a|
||t|r Sarç|av|
Deepa| C|a|sas
|||v|| S|rç|
29. ßEßIvAIIvE8
a} I|e Cc¤par] uses lc|e|çr cu||erc] lc|wa|c ccrt|acts tc |ecçe |ts ||s|s asscc|atec w|t| lc|e|çr cu||erc] e·pcsu|es |e|at|rç
tc t|e urce||]|rç t|arsact|crs arc l||¤ cc¤¤|t¤erts. I|e cc¤par] cces rct erte| |rtc ar] ce||vat|ve |rst|u¤erts lc| t|ac|rç
arc specu|at|ve pu|pcses.
I|e lc||cw|rç a|e t|e cutstarc|rç |c|wa|c E·c|arçe Ccrt|acts erte|ec |rtc u] t|e Cc¤par] as at 31 Va|c| 2011
|a|t|cu|a|s Mar-11 Va|-10
|u¤ue| cl Ccrt|acts 3 1 5
I]pe Bu] Bu] Bu]
|c|e|çr cu||erc] (|r |acs} c.38 CB| 0.0c uSD c.2c CB|
||R Ecu|va|ert (|r |acs} 1c9.87 2.81 151.00
b} üohodgod Foro|go 6urroocy oxposuro
I|e ]ea| erc lc|e|çr cu||erc] e·pcsu|es t|at |ave rct ueer |ecçec u] a ce||vat|ve |rst|u¤ert c| ct|e|w|se a|e ç|ver ue|cw.
|a|t|cu|a|s Mar-11 Va|-10
Io |acs Io Foro|go
curroocy
|r |acs |r |c|e|çr
cu||erc]
|a]au|e lc| pu|c|ase cl Ve|c|arc|se 37.65 ßßF 49,886 211.33 CB| 3,c0,303
77.33 ü8ß 1,72,706 82.21 uSD 1,82,728
|a]au|e tcwa|cs Rc]a|t] 36.36 ü8ß 81,110 59.70 uSD 1,32,c1c
22.55 ßßF 31,061 31.92 CB| 17,0c5
Rece|vau|e cr acccurt cl Rc]a|t] ~ ~ 21.c7 CB| 31,9c0
lotes to Fiuaucia| Statemeuts
for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 99
30. E80F 86hEME8
Mar-11* Va|-10
a} |u¤ue| cl E¤p|c]ee
Stcc| 0pt|cr 0utstarc|rç.
Numbor oI
0pt|oos
Wo|ghtod avorago
oxorc|so pr|co
|u¤ue| cl
0pt|crs
We|ç|tec ave|açe
e·e|c|se p||ce
0utstarc|rç at t|e ueç|rr|rç cl t|e ]ea| 1,539,196 99.32 778,931 181.12
C|artec cu||rç t|e ]ea| ~ ~ 71c,100 185.91
lapsec/Carce||ec cu||rç t|e ]ea| 41,216 ~ 11,281 ÷
E·e|c|sec cu||rç t|e ]ea| 338,148 85.97 18,521 20c.52
Su||erce|ec cu||rç t|e ]ea| ~ ~ c32,931 ÷
0utstarc|rç at t|e erc cl t|e ]ea| 1,159,832 101.78 7c9,598 198.c3
' /cjustec lc| suuc|v|s|cr cl s|a|es (see |cte 3c}
b} Now 8chomos Iauochod
|c rew e¤p|c]ees s|a|e uasec pa]¤ert p|ars we|e lc|¤u|atec cu||rç t|e ]ea|. I|e cc¤persat|cr ccst cl stcc| cpt|crs
ç|artec tc e¤p|c]ees |s ca|cu|atec us|rç t|e |rt||rs|c va|ue cl t|e stcc| cpt|crs.
2010-11 2009-10
Date cl ç|art ~ ~ 29.01.2009 21.03.2010
|u¤ue| cl cpt|cr ç|artec ~ ~ 51c,100 200,000
Ccrt|actua| ||le ~ ~ c ]ea|s
2 ¤crt|s
c ]ea|s
Vest|rç Sc|ecu|e
(l|c¤ t|e cate cl ç|art}
|||st Yea| ~ ~ 30º 30º
Seccrc Yea| ~ ~ 30º 30º
I|||c Yea| ~ ~ 10º 10º
Vet|cc cl sett|e¤ert ~ ~ Ecu|t] Ecu|t]
Est|¤atec |a|| Va|ues (/|||vec at u]
app|]|rç B|ac| Sc|c|es 0pt|cr
|||c|rç Vcce|}
~ ~ 12.13 171.05
Vcce| |rputs (s|a|e p||ce at
t|e ç|art cate}
~ ~ 111.50 379.10
E·e|c|se |||ce ~ ~ 110.00 382.00
E·pectec Vc|at|||t] ~ ~ 17.92º 53.32º
R|s| l|ee |ate cl |etu|r ~ ~ 5.38º÷7.38º
c} I|e we|ç|tec ave|açe ccrt|actua| ||le cl t|e cpt|crs cutstarc|rç |s 1.12 ]ea|s
c} 0t|e| |rlc|¤at|cr |eça|c|rç e¤p|c]ee s|a|e-uasec pa]¤ert p|ars |s as ue|cw .-
Mar-11 Va|-10
|} E·perse a||s|rç l|c¤ e¤p|c]ee s|a|e uasec pa]¤ert p|ars ~ ÷
||} |¤pact cr |/I |l la|| va|ue ¤et|cc |ac ueer usec |rsteac cl
|rt||rs|c Va|ue Vet|cc
256.93 1,088.39
|||} E|S |l la|| va|ue ¤et|cc |ave ueer usec |rsteac cl
|rt||rs|c Va|ue Vet|cc (}
÷ Bas|c 9.84 8.05
÷ D||utec 9.74 7.95
|v} ES0| 0utstarc|rç 5.10 20.11
0per|rç Ba|arce 20.14 31.82
less. I|arsle| tc secu||t|es p|e¤|u¤ cr e·e|c|se cl cpt|crs (13.09} (8.25}
less. 0pt|crs |apsec cu||rç t|e ]ea| (1.95} (3.13}
5.10 20.11
lotes to Fiuaucia| Statemeuts
for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 100
31. EAßNINß FEß 8hAßE (EF8} I8 6AI6üIAIEß A8 F0II0W8: (A|so soo Noto 36}
Fart|cu|ars Mar-11 Va|-10
(a} ||cl|t att||uutau|e tc ecu|t] s|a|e |c|ce|s ( |r |acs} 7,517.58 5,023.05
(u} We|ç|tec |u¤ue| cl ecu|t] s|a|es cutstarc|rç cu||rç t|e ]ea| (see rcte 3c} 78,998,136 75,939,c39
(c} We|ç|tec |u¤ue| cl ecu|t] s|a|es cutstarc|rç cu||rç t|e ]ea| alte|
acjust¤ert lc| c||ut|cr (see rcte 3c}
79,817,199 7c,8cc,800
(c} |c¤|ra| va|ue pe| s|a|e (} 5 5
(e} E|S.
Bas|c (} 9.52 c.c1
D||utec (} 9.42 c.53
32. INIEßE8I IN J0INI vENIüßE8:
I|e Cc¤par]s |rte|ests, as a vertu|e|, |r a jc|rt|] ccrt|c||ec ert|t|es a|e as lc||cws.
(A|| amouots |o |acs, uo|oss othorw|so statod}
Namo Fr|oc|pa| Act|v|t|os Froport|oo oI owoorsh|p Iotorost
31 March 2011 aod 31 March 2010
|uarce C|cup (|rc|a} |||vate l|¤|tec /||pc|t |eta|||rç 50º
I|¤etcre Erte|ta|r¤ert |||vate l|¤|tec Erte|ta|r¤ert 1c.89º (2010, 15º}
I|e Cc¤par]s s|a|e |r t|e assets, ||au|||t|es, |rcc¤e arc e·perses (eac| w|t|cut e||¤|rat|cr cl |rte| cc¤par] t|arsact|crs}
|e|atec tc |ts |rte|est |r t|e jc|rt vertu|es a|e.
Mar-11 Va|-10
I. A88EI8
1. ||·ec /ssets |rc|uc|rç cap|ta| wc||-|r-p|cç|ess (|et} 1,359.52 1,939.77
2. |rvest¤erts ~ 0.02
3. Cu||ert /ssets, lcar arc /cvarces
a} |rvertc||es 665.20 915.80
u} Surc|] Deutc|s 104.02 112.52
c} Cas| arc Bar| Ba|arces 442.25 119.19
c} lcars arc /cvarces 1,330.38 1,807.30
II. IIAßIIIIIE8
1. lcar |urcs
a} Secu|ec lcar 1,046.15 2,27c.01
u} ursecu|ec lcars 94.51 90.83
2. Cu||ert l|au|||t|es arc ||cv|s|crs
a} l|au|||t|es 1,505.94 1,111.30
u} ||cv|s|crs 26.88 23.12
III. IN60ME
Reverue 4,410.33 1,112.50
Iv. EkFEN8E8
0pe|at|cra| E·perses 4,324.89 1,81c.27
|rte|est 219.77 338.31
Dep|ec|at|cr//¤c|t|sat|cr 439.14 5c1.21
v. 60NIINßENI IIAßIIIIIE8 439.90 1c1.82
Noto: I|e cc¤par]s s|a|e |r t|e assets, ||au|||t|es, |rcc¤e arc e·perses |r |uarce C|cup (|rc|a} |||vate l|¤|tec |s uasec cr t|e
auc|tec l|rarc|a|s lc| t|e ]ea| ercec 31 Dece¤ue| 2010.
lotes to Fiuaucia| Statemeuts
for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 101
(A|| amouots |o |acs, uo|oss othorw|so statod}
33. EMFI0¥EE ßENEFII8 Mar-11 Va|-10
Fost-omp|oymoot boooI|ts
Del|rec ccrt||uut|cr p|ars
Cc¤par]s ccrt||uut|cr tc ||cv|cert |urc 432.78 3c8.87
ßoI|ood boooI|t schomo-ßratu|ty
I. 6ompoooot oI Emp|oyor Expooso
Cu||ert Se|v|ce Ccst 85.65 c9.27
|rte|est Ccst 19.71 20.c1
E·pectec Retu|r cr ||ar assets (21.15} (20.17}
/ctua||a| lcsses 94.57 18.2c
178.78 87.c7
II. 6haogo |o ßoI|ood ßoooI|t 0b||gat|oos (ßß0}
||esert Va|ue cl DB0 at t|e Beç|rr|rç cl |e||cc 262.51 280.13
Cu||ert Se|v|ce Ccst 85.65 c9.27
|rte|est Ccst 19.71 20.c1
/ctua||a| lcsses 97.86 1.81
Berel|ts pa|c/t|arsle||ec (43.91} (109.c1}
||esert Va|ue cl DB0 at t|e Erc cl |e||cc 421.82 2c2.51
III. 6haogo |o Fa|r va|uo oI Assots
||ar /ssets at t|e Beç|rr|rç cl |e||cc 262.51 280.13
E·pectec Retu|r cr ||ar /ssets 21.15 20.17
/ctua||a| Ca|rs/(lcsses} 3.29 (1c.15}
/ctua| Cc¤par] Ccrt||uut|cr 89.94 87.c7
Berel|ts pa|c/t|arsle||ec (43.91} (109.c1}
||ar /ssets at t|e Erc cl |e||cc 332.98 2c2.51
Iv. Not Assot/(I|ab|||ty} ßocogo|sod |o ßa|aoco 8hoot
||esert Va|ue cl Del|rec Berel|t 0u||çat|cr 421.82 2c2.51
|a|| Va|ue cl ||ar /ssets 332.98 2c2.51
Status [Su|p|us/(Del|c|t}[ (88.84} ÷
ur|eccçr|sec |ast Se|v|ce Ccst ~ ÷
|et /sset/(l|au|||t]} Reccçr|sec |r Ba|arce S|eet (88.84} ÷
v. Actuar|a| assumpt|oos
D|sccurt Rate 8.00% p.a. 7.50º p.a.
E·pectec Retu|r cr ||ar /ssets 8.00% p.a. 8.00º p.a.
Rate cl |rc|ease |r sa|a||es 4.00% p.a. 1.00º p.a.
Rate cl /tt||t|cr 13.76% p.a. 13.7cº p.a.
vI. Not Assot/(I|ab|||ty} rocogo|sod |o ßa|aoco 8hoot (|oc|ud|og oxpor|ooco adjustmoot |mpact}
31 March 2011 31 March 2010 31 March 2009 31 March 2008
||esert Va|ue cl t|e Del|rec Berel|t 0u||çat|cr 121.82 2c2.51 280.13 192.c0
|a|| Va|ue cl t|e ||ar /ssets 332.98 2c2.51 280.13 192.c0
Su|p|us/(Del|c|t} |r t|e ||ar (88.81} ÷ ÷ ÷
E·pe||erce /cjust¤erts a||s|rç cr ||ar
l|au|||t|es ÷ lcsses/(Ca|rs}
108.c9 (19.15} (0.11} ÷
E·pe||erce /cjust¤erts a||s|rç cr ||ar
/ssets ÷ Ca|rs/(lcsses}
3.29 (1c.15} (15.81} ÷
lotes to Fiuaucia| Statemeuts
for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 102
I|e cc¤par] e·pects tc ccrt||uute 101.05 |acs tc |ts C|atu|t] p|ar lc| t|e re·t ]ea|.
|r assess|rç t|e Cc¤par]s |cst Ret||e¤ert l|au|||t|es, t|e Cc¤par] ¤cr|tc|s ¤c|ta||t] assu¤pt|crs arc uses up-tc-cate ¤c|ta||t]
tau|es. I|e uase ue|rç t|e l|C 1991-9c u|t|¤ate tau|es.
E·pectec |etu|r cr p|ar assets |s uasec cr e·pectat|cr cl t|e ave|açe |crç-te|¤ |ate cl |etu|r e·pectec cr |rvest¤erts cl t|e lurc
cu||rç t|e est|¤atec te|¤ cl t|e cu||çat|crs.
I|e est|¤ates cl lutu|e sa|a|] |rc|eases ccrs|ce|ec |r actua||a| va|uat|cr ta|e acccurt cl |rl|at|cr, ser|c||t], p|c¤ct|cr arc ct|e|
|e|evart lactc|s, suc| as supp|] arc ce¤arc |r t|e e¤p|c]¤ert ¤a||et.
I|e ç|atu|t] uerel|t sc|e¤e cl t|e Cc¤par] |s ¤araçec u] l|le |rsu|arce Cc|pc|at|cr cl |rc|a (l|C}. I|e Cc¤par] |s cu||ert|] awa|t|rç
t|e ceta||s cl t|e cc¤pcs|t|cr cl t|e p|ar assets, u] cateçc|], l|c¤ t|e l|C lc| t|e cu||ert arc t|e p|ev|cus ]ea|s arc |erce t|e
c|sc|csu|es as |ecu||ec u] /cccurt|rç Starca|c (/S} 15 cr E¤p|c]ee Berel|ts |ave rct ueer ç|ver.
(A|| amouots |o |acs, uo|oss othorw|so statod}
Mar-11 Va|-10
34. 8üFFIEMENIAߥ 8IAIüI0ߥ ßAIA
a} Va|ue cl |¤pc|ts cr C|| Bas|s.
Cc¤pute| scltwa|e arc |a|cwa|e 93.90 51.29
Cap|ta| Ccccs 325.52 100.01
|u|c|ase cl Ve|c|arc|se 3,909.31 2,208.15
4,328.73 2,cc2.18
u} E·perc|tu|e |r lc|e|çr cu||erc] (cr pa]¤ert uas|s}.
Ccrsu|tarc] 91.36 10c.70
||cless|cra| lees 91.63 28.21
Rc]a|t] 175.88 151.c5
Cc¤¤|ss|cr pa|c tc D||ectc|s 4.00 ÷
S|tt|rç lees pa|c tc D||ectc|s 1.20 ÷
0t|e|s 122.39 135.00
486.47 721.55
c} Ea|r|rçs |r lc|e|çr e·c|arçe (0r |ece|pt uas|s}.
|c|e|çr cu||erc] arc lc|e|çr c|ec|t ca|c cc||ect|cr cr sa|e cl ¤e|c|arc|se 4,487.10 1,1c1.29
Rc]a|t] ~ c0.11
4,487.10 1,221.11
c} |a]¤erts tc /uc|tc|s (e·c|uc|rç se|v|ce ta·}.
|} /uc|t lees 28.75 25.00
||} 0t|e| ¤atte|s 18.25 2.00
|||} 0ut cl pcc|et e·perses 0.12 0.28
47.12 27.28
e} D||ectc|s Re¤ure|at|cr
Sa|a|], a||cwarce arc ucrus 329.53 12c.15
Ccrt||uut|cr tc ||cv|cert arc ct|e| |urcs 12.96 7.7c
Cc¤¤|ss|cr tc rcr-w|c|et|¤e c||ectc|s 21.00 10.00
|e|cu|s|tes 6.22 10.71
369.71 181.92
Noto:
I|e aucve e·c|uces ccrt||uut|cr tc app|cvec ç|atu|t] lurc arc p|cv|s|cr lc| |eave ercas|¤ert w||c| a|e actua||a||] cete|¤|rec
cr ar cve|a|| cc¤par] uas|s.
lotes to Fiuaucia| Statemeuts
for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 103
(A|| amouots |o |acs, uo|oss othorw|so statod}
Mar-11 Va|-10
l} Cc¤putat|cr cl |et ||cl|t |r accc|carce w|t| Sect|cr 198 cl t|e Cc¤par|es
/ct,195c arc t|e cc¤¤|ss|cr pa]au|e tc c||ectc|s.
||cl|t Belc|e Ia· 11,382.58 c,5c7.03
/cc .
Dep|ec|at|cr as pe| ucc|s 3,099.88 3,102.51
||cl|t cr sa|e cl l|·ec assets (37.22} (117.29}
D||ectc|s Re¤ure|at|cr 369.71 181.92
||cv|s|cr lc| Dcuutlu| Deuts//cvarces ~ 127.73
14,814.95 10,131.93
less.
Dep|ec|at|cr as pe| Sect|cr 350 cl t|e Cc¤par|es /ct, 195c 2,948.43 3,287.21
Reccve|] cl ccuutlu| acvarces 5.10 187.72
||cl|t cr sa|e cl l|·ec assets urce| Sect|cr 319 8.83 100.91
E·cess cl e·perc|tu|e cve| |rcc¤e cl p|ev|cus ]ea| ~ 312.55
||cl|t lc| t|e pu|pcse cl D||ectc|s Re¤ure|at|cr 11,852.59 c,51c.51
Cc¤¤|ss|cr tc |cr-W|c|et|¤e D||ectc|s _ 1º 118.53 c5.17
Cc¤¤|ss|cr pa]au|e tc |cr-W|c|et|¤e D||ectc|s 21.00 10.00
ç} 0uart|tat|ve ceta||s cl cper|rç stcc|, pu|c|ases, sa|es arc c|cs|rç stcc| (e·c|uc|rç ccrs|çr¤ert ¤e|c|arc|se}
|c| t|e ]ea| ercec 31 Va|c| 2011. (0uart|t] |r 000s}
6atogory üo|ts
0poo|og stock Furchasos IraosIor oI stock oo
sa|o oI bus|ooss
8a|os 6|os|og stock*
ûuaot|ty Amouot ûuaot|ty Amouot ûuaot|ty Amouot ûuaot|ty Amouot ûuaot|ty Amouot
Apparo|s Nos. 2,169 8,436.27 12,834 61,623.24 ~ ~ 12,408 99,558.66 2,423 9,959.92
Noo-
Apparo|s
Nos. 2,204 6,553.05 9,776 49,726.89 1,457 2,325.06 9,341 3,024.46 1,119 5,153.74
4,373 14,989.32 22,610 111,350.13 1,457 2,325.06 21,749 172,583.12 3,542 15,113.66
|c| t|e ]ea| ercec 31 Va|c| 2010.
Cateçc|] ur|ts
0per|rç stcc| |u|c|ases Sa|es C|cs|rç stcc|'
0uart|t] /¤curt 0uart|t] /¤curt 0uart|t] /¤curt 0uart|t] /¤curt
/ppa|e|s |cs. 1,995 8,278.50 10,870 18,099.17 10,513 80,5c0.58 2,1c9 8,13c.27
|cr-/ppa|e|s |cs. 2,0c8 c,219.c0 9,507 11,388.28 9,257 c1,023.17 2,201 c,553.05
1,0c3 11,198.10 20,377 89,187.15 19,770 111,583.75 1,373 11,989.32
'C|cs|rç stcc| |s alte| acjust|rç sa¤p|es, l|ee ç|lts, ca¤açec çcccs arc s|c|taçes at stc|es.
35. Ek6EFII0NAI IIEM
I|e Bca|c cl D||ectc|s cl Catewa] Vu|t|c|arre| Reta|| (|rc|a} l|¤|tec (Catewa]} |ac |r Jarua|] 2009 cec|cec tc c|sccrt|rue
cpe|at|crs arc t|e cc¤par] |ac t|e|elc|e ¤ace a p|cv|s|cr lc| |ts |rvest¤erts arc |cars arc acvarces açç|eçat|rç tc 2,18c.10
|acs |r t|e p|ev|cus ]ea|. I|e |¤pa||¤ert c|a|çe was c|sc|csec as ar E·cept|cra| |te¤ |r t|e ||cl|t arc lcss /cccurt. Du||rç t|e
]ea| t|e Cc¤par] |as |eccve|ec 5.10 |acs l|c¤ Catewa] arc |as accc|c|rç|] c|sc|csec t|e c|ec|t as ar E·cept|cra| |te¤.
3c. I|e Bca|c cl D||ectc|s arc s|a|e|c|ce|s cl t|e Cc¤par] at t|e|| ¤eet|rçs |e|c cr 0ctcue| 29, 2010 arc Dece¤ue| 23, 2010
|espect|ve|] app|cvec suu-c|v|s|cr cl ecu|t] s|a|e cl 10/- eac| |rtc twc ecu|t] s|a|es cl 5/- eac|. I|e Cc¤par] l|·ec Jarua|] 13,
2011 as t|e Recc|c Date, lc| t|e sa|c suu-c|v|s|cr arc as cr cate, t|e ecu|t] s|a|es cl t|e cc¤par] we|e suu-c|v|cec. /ccc|c|rç|],
t|e uas|c arc c||utec E|S lc| t|e cu||ert arc p||c| ]ea| |ave ueer cc¤putec cr t|e uas|s cl t|e sa|c suu-c|v|s|cr.
lotes to Fiuaucia| Statemeuts
for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 101
37 (|} Du||rç t|e ]ea|, t|e Cc¤par] |as s|¤u|tarecus|] a||cttec 20,00,000 ecu|t] s|a|es tc 0ua||l|ec |rst|tut|cra| Bu]e|s (0|Bs} arc
10,00,000 ecu|t] s|a|es tc ||c¤cte|s pu|suart tc t|e ccrve|s|cr cl cpt|cra||] ccrve|t|u|e wa||arts lc| ar açç|eçate |ssue p||ce
cl 12,980 |acs arc 12,287.20 |acs ( 3,071.80 |acs |ece|vec |r 2010 ue|rç 25º cl tcta| p||ce} |espect|ve|]. I|e p|e¤|u¤
|ece|vec açç|eçatec 21,cc7.20 |acs.
(||} |r te|¤s cl Secu||t|es arc E·c|arçe Bca|c cl |rc|a (|ssue cl Cap|ta| arc D|sc|csu|es Recu||e¤erts} Reçu|at|crs, 2009 p|cceecs
l|c¤ t|e |ssue tc 0|Bs |as ueer ut|||sec as urce|.
( |r |acs}
Fart|cu|ars üt|||sat|oo
|rte|-Cc|pc|ate lcar 1,500.00
Repa]¤ert cl lcars/Cas| C|ec|t 8,180.00
Iota| 12,980.00
38. 0r acccurt cl te|¤|rat|cr cl t|e l|arc||see aç|ee¤ert w|t| C|csswc|c Bcc|stc|es ltc. (CBl}, a w|c||]-cwrec suus|c|a|] cl t|e
Cc¤par], t|e cpe|at|crs cl 'C|csswc|c |ave ueer |arcec cve| tc C|csswc|c Bcc|stc|es l|¤|tec w|t| ellect l|c¤ 0ctcue| 1, 2010
at ucc| va|ues. /ccc|c|rç|], l|çu|es lc| t|e p|ev|cus ]ea| a|e rct cc¤pa|au|e w|t| t|cse cl t|e cu||ert ]ea|.
39. I|e Cc¤par] |as l|rarc|a| |rvc|ve¤ert |r a suus|c|a|] cc¤par], ra¤e|] |]pe|c|t] Reta|| (|rc|a} l|¤|tec arc jc|rt vertu|e cc¤par|es,
ra¤e|] |uarce C|cup (|rc|a} |||vate l|¤|tec arc I|¤etcre Erte|ta|r¤ert |||vate l|¤|tec, as lc||cws.
( |r |acs}
Namo oI tho 6ompaoy Iovostmoot |o Equ|ty
aod FroIorooco 6ap|ta|
Ioaos aod Advaocos Iota| Iovo|vomoot
|]pe|c|t] Reta|| (|rc|a} l|¤|tec 15,371.81 12,5c5.51 27,937.35
|uarce C|cup (|rc|a} |||vate l|¤|tec 3,c11.00 ÷ 3,641.00
I|¤etcre Erte|ta|r¤ert |||vate l|¤|tec 1,199.19 201.c8 1,401.17
I|e |etwc|t| cl t|ese cc¤par|es |ave ueer suustart|a||] e|ccec arc t|ese cc¤par|es ccrt|rue tc ¤a|e |csses. Basec cr t|e
uus|ress p|ars cl t|ese cc¤par|es arc t|e va|uat|cr cl uus|resses u] ar |rcepercert va|ue|, rc p|cv|s|cr lc| ar] |css |s cu||ert|]
ccrs|ce|ec recessa|] |r t|ese l|rarc|a| state¤erts.
10a. Du||rç t|e ]ea|, t|e ra¤e cl t|e Cc¤par] was c|arçec l|c¤ S|cppe|'s Stcp l|¤|tec tc S|cppe|s Stcp l|¤|tec.
10u. ||çu|es cl t|e p|ev|cus ]ea| a|e |eç|cupec, w|e|e recessa|], tc ccrlc|¤ tc t|cse cl t|e cu||ert ]ea|.
lotes to Fiuaucia| Statemeuts
for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 105
I. ßog|strat|oo ßota||s:
Reç|st|at|cr |c. State Ccce
Ba|arce S|eet Date
II. 6ap|ta| ra|sod dur|og tho yoar (Amouot |o Ihousaods}:
|uu||c |ssue R|ç|t |ssue
0ua||l|ec |rst|tut|cra| ||ace¤erts 0pt|cra||] Ccrve|t|u|e Wa||arts
Bcrus |ssue
III. Fos|t|oo oI Mob|||sat|oo aod ßop|oymoot oI Fuods (Amouots |o Ihousaods}:
Icta| l|au|||t|es Icta| /ssets
8ourcos oI Fuods
|a|c-up Cap|ta| Rese|ves c Su|p|us
Secu|ec lcars
App||cat|oo oI Fuods
|et ||·ec /ssets |rvest¤erts
|et Cu||ert /ssets Dele||ec Ia· /ssets
/ccu¤u|atec lcsses V|sc. E·perc|tu|e
Iv. ForIormaoco oI 6ompaoy (Amouot |o Ihousaods}:
Iu|rcve| (C|css Reverue} Icta| E·perc|tu|e
÷ ÷ ||cl|t/lcss Belc|e Ia· ÷ ÷ ||cl|t/lcss /lte| Ia·
(||ease t|c| /pp|cp||ate uc· ÷ lc| ||cl|t ÷ lc| lcss}
Ea|r|rçs pe| S|a|e |r D|v|cerc
v. ßooor|c Namos oI Ihroo Fr|oc|pa| Froducts/8orv|cos oI 6ompaoy (as por Moootary Iorms}:
|te¤ Ccce |c. (|IC Ccce}
||ccuct Desc||pt|cr
|te¤ Ccce |c. (|IC Ccce}
||ccuct Desc||pt|cr
|te¤ Ccce |c. (|IC Ccce}
||ccuct Desc||pt|cr
÷ ÷ ÷
1 1
1 1 0 3 3 1
Y e a | Vcrt| D a t e
1 1 - 1 0 8 7 9 8
÷ ÷ ÷
9 2 1 5 1 0
7 1 c 8 2 3 9
5 5 7 0 1 8 8
2 3 7 1 9 3 1
1 c 0 5 3 7 1 3
7 5 1 7 5 8
3 2 5 0 0
÷ ÷
1 2 9 8 0 0 0
÷ ÷ ÷
ß. 8. Nagosh ßav| ßahoja ßov|od 8. 8hr|khaodo
V|ce C|a||¤ar D||ectc| Custc¤e| Ca|e /sscc|ate c
Varaç|rç D||ectc|
6. ß. Nava|kar Frashaot Mohta
Custc¤e| Ca|e /sscc|ate c Custc¤e| Ca|e /sscc|ate c
C|cup C||el ||rarc|a| 0ll|ce| Cc¤par] Sec|eta|] c
Vu¤ua|, Datec . 29 /p|||, 2011 V|ce ||es|cert - leça|
7 1 c 8 2 3 9
1 1 0 8 3 1
1 1 8 7 2 1 7
3 5 c 7 8 8 1
1 1 9 5 9 2 1
÷ ÷ ÷
1 7 1 9 1 9 7 1
1 1 3 8 2 5 8 ÷ ÷
9 . 5 2 1 5 º
| /
| /
| /
8a|auce Sheet Abstract aud
Compauy's 6euera| 8usiuess Profi|e Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 10c
Fiuaucia| luformatiou of Subsidiary Compauies
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Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 107
/rrua| Repc|t 2010-11 | 109
8hoppors 8top I|m|tod
6ooso||datod F|oaoc|a| 8tatomoots
2010-11
Ic,
I|e Bca|c cl D||ectc|s cl S|cppe|s Stcp l|¤|tec
1. We |ave auc|tec t|e attac|ec Ccrsc||catec Ba|arce S|eet cl S|cppe|s Stcp l|¤|tec (t|e Cc¤par]} arc |ts suus|c|a||es arc jc|rt
vertu|e cc¤par|es (t|e C|cup} as at 31 Va|c| 2011, arc a|sc t|e Ccrsc||catec ||cl|t arc lcss /cccurt arc t|e Ccrsc||catec
Cas| ||cw State¤ert lc| t|e ]ea| ercec cr t|at cate, uct| arre·ec t|e|etc. I|e Ccrsc||catec ||rarc|a| State¤erts a|e t|e
|espcrs|u|||t] cl t|e Cc¤par]'s Varaçe¤ert arc |ave ueer p|epa|ec u] t|e Varaçe¤ert cr t|e uas|s cl sepa|ate l|rarc|a|
state¤erts arc ct|e| l|rarc|a| |rlc|¤at|cr |eça|c|rç cc¤pcrerts. 0u| |espcrs|u|||t] |s tc e·p|ess ar cp|r|cr cr t|ese Ccrsc||catec
||rarc|a| State¤erts uasec cr cu| auc|t.
2. We ccrcuctec cu| auc|t |r accc|carce w|t| t|e auc|t|rç starca|cs çere|a||] acceptec |r |rc|a. I|cse Starca|cs |ecu||e t|at we p|ar
arc pe|lc|¤ t|e auc|t tc cuta|r |eascrau|e assu|arce aucut w|et|e| t|e l|rarc|a| state¤erts a|e l|ee cl ¤ate||a| ¤|sstate¤erts.
/r auc|t |rc|uces e·a¤|r|rç, cr a test uas|s, ev|cerce suppc|t|rç t|e a¤curts arc t|e c|sc|csu|es |r t|e l|rarc|a| state¤erts.
/r auc|t a|sc |rc|uces assess|rç t|e acccurt|rç p||rc|p|es usec arc s|çr|l|cart est|¤ates ¤ace u] t|e Varaçe¤ert, as we|| as
eva|uat|rç t|e cve|a|| l|rarc|a| state¤ert p|esertat|cr. We ue||eve t|at cu| auc|t p|cv|ces a |eascrau|e uas|s lc| cu| cp|r|cr.
3. We c|c rct auc|t t|e l|rarc|a| state¤erts cl ce|ta|r suus|c|a||es arc a jc|rt vertu|e w|cse l|rarc|a| state¤erts |el|ect t|e C|cup's
s|a|e cl tcta| assets cl c,8c8 |acs as at 31 Va|c| 2011, arc t|e C|cup's s|a|e cl tcta| |everues cl 5,c57 |acs lc| t|e ]ea|
ercec cr t|at cate, arc ret cas| |rl|cws a¤curt|rç tc 1c1 |acs lc| t|e ]ea| ercec cr t|at cate as ccrs|ce|ec |r t|e Ccrsc||catec
||rarc|a| State¤erts. I|ese l|rarc|a| state¤erts arc ct|e| l|rarc|a| |rlc|¤at|cr |ave ueer auc|tec u] ct|e| auc|tc|s w|cse
|epc|ts |ave ueer lu|r|s|ec tc us, arc cu| cp|r|cr, |r sc la| as |t |e|ates tc t|e a¤curts |rc|ucec |r |espect cl t|ese suus|c|a||es
arc t|e jc|rt vertu|e, |s uasec sc|e|] cr t|e |epc|ts cl t|e ct|e| auc|tc|s.
1. W|t|cut cua||l]|rç cu| cp|r|cr, attert|cr |s |rv|tec tc |cte 22 cl t|e Ccrsc||catec ||rarc|a| State¤erts |eça|c|rç rcr-p|cv|s|cr
cl se|v|ce ta· lc| t|e pe||cc 1 Jure 2007 tc 31 Va|c| 2010 cr |ert|rç cl |¤¤cveau|e p|cpe|t|es ç|ver lc| cc¤¤e|c|a| use,
açç|eçat|rç 2,027 |acs. I|e |et|cspect|ve |ev] cl se|v|ce ta· |as, |rte|-a||a, ueer c|a||erçec u] t|e Cc¤par] |r va||cus ||ç|
Ccu|ts arc ar |rte||¤ sta] |as ueer ç|artec u] t|e va||cus ||ç| Ccu|ts l|c¤ t|e |eccve|] cl t|e sa|c se|v|ce ta·. I|e ¤atte| |s
ccrt|rçert upcr t|e l|ra| cutcc¤e cl t|e ||t|çat|cr.
5. We |epc|t t|at t|e Ccrsc||catec ||rarc|a| State¤erts |ave ueer p|epa|ec u] t|e Cc¤par]'s Varaçe¤ert |r accc|carce w|t| t|e
|ecu||e¤erts cl /cccurt|rç Starca|c 21, Ccrsc||catec ||rarc|a| State¤erts, arc /cccurt|rç Starca|c 27, ||rarc|a| Repc|t|rç cl
|rte|ests |r Jc|rt Vertu|es as rct|l|ec urce| t|e Cc¤par|es (/cccurt|rç Starca|cs} Ru|es, 200c.
c. Basec cr cu| auc|t arc cr ccrs|ce|at|cr cl |epc|ts cl ct|e| auc|tc|s cr sepa|ate l|rarc|a| state¤erts arc cr t|e ct|e| l|rarc|a|
|rlc|¤at|cr cl t|e cc¤pcrerts, |r cu| cp|r|cr arc tc t|e uest cl cu| |rlc|¤at|cr arc accc|c|rç tc t|e e·p|arat|crs ç|ver tc us,
t|e Ccrsc||catec ||rarc|a| State¤erts ç|ve a t|ue arc la|| v|ew |r ccrlc|¤|t] w|t| t|e acccurt|rç p||rc|p|es çere|a||] acceptec
|r |rc|a.
(|} |r t|e case cl t|e Ccrsc||catec Ba|arce S|eet, cl t|e state cl alla||s cl t|e C|cup as at 31 Va|c|, 2011,
(||} |r t|e case cl t|e Ccrsc||catec ||cl|t arc lcss /cccurt, cl t|e p|cl|t cl t|e C|cup lc| t|e ]ea| ercec cr t|at cate, arc
(|||} |r t|e case cl t|e Ccrsc||catec Cas| ||cw State¤ert, cl t|e cas| l|cws cl t|e C|cup lc| t|e ]ea| ercec cr t|at cate.
For ßo|o|tto hask|os 8 8o||s
C|a|te|ec /cccurtarts
(Reç|st|at|cr |c. 1173ccW}
8hyamak ß. Iata
|a|tre|
(Ve¤ue|s||p |c. 38320}
||ace. Vu¤ua|
Date. 29 /p||| 2011
Auditors' Report Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 111
(A|| amouots |o |acs}
|ctes Mar-11 Va|-10
80üß6E8 0F FüNß8
8hAßEh0IßEß8' FüNß8
S|a|e cap|ta| 2 4,108.34 3,191.13
0pt|cra||] ccrve|t|u|e wa||arts 32 ~ 3,071.80
Rese|ves arc su|p|us 3 45,981.25 21,55c.11
50,089.59 28,119.37
I0AN FüNß8
Secu|ec |cars 1 21,676.97 20,710.81
ursecu|ec |cars 5 4,624.28 2,20c.19
26,301.25 22,917.03
MIN0ßII¥ INIEßE8I 223.55 ÷
ßEFEßßEß IAk IIAßIIIIIE8 (Not} 21 (c} 132.00 ÷
76,746.39 51,03c.10
AFFII6AII0N 0F FüNß8
FIkEß A88EI8 c
C|css u|cc| 74,736.78 50,178.3c
less. /ccu¤u|atec cep|ec|at|cr, a¤c|t|sat|cr arc |¤pa||¤ert 25,996.31 21,151.01
|et u|cc| 48,740.47 29,027.35
Cap|ta| wc|| |r p|cç|ess (|rc|uc|rç Cap|ta| acvarces 5,704.33 2,781.28
1,111.15 |acs, 2010 . 1,071.58 |acs} 54,444.80 31,808.c3
INvE8IMENI8 7 1.11 3,991.13
ß00ßWIII 0N 60N80IIßAII0N 9,914.25 1,091.70
MIN0ßII¥ INIEßE8I ~ 2,171.11
ßEFEßßEß IAk A88EI (Not} 21 (u} 325.00 155.00
6üßßENI A88EI8, I0AN8 ANß AßvAN6E8
|rvertc||es 8 25,054.67 15,905.12
Surc|] ceutc|s 9 2,140.87 1,223.22
Cas| arc uar| ua|arces 10 1,823.36 922.12
lcars arc acvarces 11 22,237.63 22,117.2c
51,256.53 10,1c7.72
Ioss: 6üßßENI IIAßIIIIIE8 ANß Fß0vI8I0N8 12
Cu||ert ||au|||t|es 38,110.99 27,811.73
||cv|s|crs 1,084.31 801.19
39,195.30 28,c19.22
|et cu||ert assets 12,061.23 11,518.50
Fß0FII ANß I088 A660üNI
Ba|arce |r ||cl|t arc lcss /cccurt 589.58 81.cc
less. Cere|a| Rese|ve cecuctec as pe| ccrt|a 589.58 81.cc
~ ÷
76,746.39 51,03c.10
I|e accc¤par]|rç rctes 1 tc 31 a|e ar |rteç|a| pa|t cl t|e l|rarc|a| state¤erts.
|r te|¤s cl cu| |epc|t attac|ec. For aod oo boha|I oI tho ßoard oI ß|roctors
For ßo|o|tto hask|os 8 8o||s ß. 8. Nagosh ßav| ßahoja ßov|od 8. 8hr|khaodo
C|a|te|ec /cccurtarts V|ce C|a||¤ar D||ectc| Custc¤e| Ca|e /sscc|ate c
Varaç|rç D||ectc|
8hyamak ß. Iata 6. ß. Nava|kar Frashaot Mohta
|a|tre| Custc¤e| Ca|e /sscc|ate c Custc¤e| Ca|e /sscc|ate c
Vu¤ua|, Datec . 29 /p|||, 2011 C|cup C||el ||rarc|a| 0ll|ce| Cc¤par] Sec|eta|] c
V|ce ||es|cert ÷ leça|
Couso|idated 8a|auce Sheet as at 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 112
(A|| amouots |o |o |acs}
|ctes Mar-11 Va|-10
IN60ME
ßota|| Iuroovor
0wr ¤e|c|arc|se (|rc|uc|rç ccrcess|cr sa|es} 1(e} 225,488.67 111,732.55
Ccrs|çr¤ert ¤e|c|arc|se 18,130.30 13,071.07
0t|e| Reta|| cpe|at|rç |rcc¤e 13 3,762.78 2,c51.c7
19 247,381.75 1c0,1c1.29
less. Va|ue accec ta· 12,457.10 c,85c.81
less. Ccst cl ccrs|çr¤ert ¤e|c|arc|se 12,965.82 9,129.83
221,958.83 111,171.c2
Reverue l|c¤ Ca¤|rç Bus|ress ÷ S|a|e |r Jc|rt Vertu|e 1,163.69 710.97
Reverue l|c¤ t|arsle| cl ||cpe|t] cpt|cr 102.00 ÷
223,224.52 ' 111,915.59'
0t|e| |rcc¤e 11 511.30 927.11
223,735.82 115,813.00
' |rc|uce s|a|e |r Jc|rt vertu|es (see rcte 33} 4,348.59 1,13c.88
EkFENßIIüßE
Ccst cl çcccs sc|c 15 147,678.92 90,220.10
E¤p|c]ee ccsts 1c 13,990.89 9,198.11
0pe|at|rç arc ac¤|r|st|at|ve e·perses 17 48,715.13 31,858.c7
|rte|est arc l|rarce c|a|çes 18 2,952.90 2,513.28
Dep|ec|at|cr, a¤c|t|sat|cr arc |¤pa||¤ert c 4,689.44 3,807.09
218,027.28 110,c27.28
Fß0FII ßEF0ßE IAk 5,708.54 5,215.72
Fß0FII Fß0M 60NIINüINß 0FEßAII0N8 ßEF0ßE IAk 28 5,7c2.79 5,231.52
Ia· C|a|çe 3,887.c1 1,875.15 1,c35.15 3,59c.07
I088 Fß0M ßI860NIINüINß 0FEßAII0N8 ßEF0ßE IAk 28 (51.25} (15.80}
Ia· C|a|çe ÷ (54.25} ÷ (15.80}
Fß0FII AFIEß IAk 1,820.90 3,580.27
V|rc||t] |rte|est ÷ S|a|e cl |css 2,498.67 7.71
NEI Fß0FII F0ß IhE ¥EAß 4,319.57 3,588.01
ßAIAN6E ßß0üßhI F0ßWAßß Fß0M FßEvI0ü8 ¥EAß (84.66} (2,810.81}
4,234.91 777.20
AFFß0FßIAII0N8
I|arsle| tc Cere|a| Rese|ve 375.88 251.15
||cpcsec D|v|cerc 616.26 523.72
Cc|pc|ate D|v|cerc Ia· 99.97 8c.99
AßJü8IMENI 0N 60N80IIßAII0N 0N
A6ûüI8III0N 0F 8üß8IßIAߥ (3,732.38} ÷
ßAIAN6E 6AßßIEß I0 ßAIAN6E 8hEEI (589.58} (81.cc}
Ea|r|rçs pe| s|a|e (Ecu|t] s|a|es, pa| va|ue cl 5/- pe| s|a|e} 30
Bas|c (} 5.47 1.72
D||utec (} 5.41 1.c7
I|e accc¤par]|rç rctes 1 tc 31 a|e ar |rteç|a| pa|t cl t|e l|rarc|a| state¤erts.
|r te|¤s cl cu| |epc|t attac|ec. For aod oo boha|I oI tho ßoard oI ß|roctors
For ßo|o|tto hask|os 8 8o||s ß. 8. Nagosh ßav| ßahoja ßov|od 8. 8hr|khaodo
C|a|te|ec /cccurtarts V|ce C|a||¤ar D||ectc| Custc¤e| Ca|e /sscc|ate c
Varaç|rç D||ectc|
8hyamak ß. Iata 6. ß. Nava|kar Frashaot Mohta
|a|tre| Custc¤e| Ca|e /sscc|ate c Custc¤e| Ca|e /sscc|ate c
Vu¤ua|, Datec . 29 /p|||, 2011 C|cup C||el ||rarc|a| 0ll|ce| Cc¤par] Sec|eta|] c
V|ce ||es|cert ÷ leça|
Couso|idated Profit 8 Loss Accouut for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 113
(A|| amouots |o |acs}
Mar-11 Va|-10
6ash I|ows Irom oporat|og act|v|t|os
Not proI|t boIoro tax 5,708.54 5,215.72
Adjustmoots Ior :
Dep|ec|at|cr, /¤c|t|sat|cr 4,689.44 3,807.09
|rte|est arc l|rarce c|a|çes 2,952.90 2,513.28
lcss cr sa|e cl l|·ec assets (ret} 54.25 c5.05
|rte|est |rcc¤e (240.71} (c31.93}
0porat|og FroI|t boIoro work|og cap|ta| chaogos 13,164.42 10,999.21
/cjust¤erts lc|.
I|ace arc ct|e| |ece|vau|es (ct|e| t|ar |ease cepcs|ts} 5,048.02 (811.15}
lease cepcs|ts (ret} (1,239.73} 25c.00
|rvertc||es (2,908.16} (55.7c}
I|ace arc ct|e| pa]au|es 2,811.39 (1,015.11}
6ash goooratod Irom oporat|oos 16,875.94 9,373.1c
|rcc¤e ta·es pa|c (ret cl |elurcs} (3,089.16} (1,551.81}
Not cash Irom oporat|og act|v|t|os 13,786.78 7,818.35
6ash I|ow Irom |ovost|og act|v|t|os
|u|c|ase cl l|·ec assets (14,487.53} (7,502.c7}
Sa|e cl l|·ec assets 724.99 8c9.33
Repa]¤ert cl |cars c acvarces u] asscc|ates (ret} ~ 1,1c1.90
|rvest¤ert |r asscc|ates ~ (950.00}
|u|c|ase cl |rte|est |r a suus|c|a|] (7,842.32} -÷
|rte|est |ece|vec 237.40 c2c.70
Not cash usod |o |ovost|og act|v|t|os (21,367.46} (5,791.71}
6ash I|ows Irom I|oaoc|og act|v|t|os
||cceecs l|c¤ |ssue cl s|a|e cap|ta| 616.91 1.83
Secu||t|es p|e¤|u¤ cr |ssue cl s|a|e cap|ta| 21,484.30 91.92
||cceecs l|c¤ |ssue cl cpt|cra||] ccrve|t|u|e wa||arts ~ 3,071.80
D|v|cerc arc c|v|cerc ta· pa|c (610.71} ÷
||cceecs l|c¤ |crç-te|¤ uc||cw|rçs (ret} 2,000.00 ÷
Repa]¤ert cl |crç-te|¤ uc||cw|rçs (17,698.15} (3,50c.83}
S|c|t-te|¤s |cars (ret} 3,116.10 (151.07}
|rte|est arc l|rarce c|a|çes pa|c (2,952.90} (2,513.28}
Not cash Irom/(usod |o} I|oaoc|og act|v|t|os 5,955.55 (3,335.c3}
Not |ocroaso/(docroaso} |o cash aod cash oqu|va|oots (1,625.13} (1,309.02}
Cas| arc cas| ecu|va|erts as at ueç|rr|rç cl t|e ]ea| 725.08 2,031.10
Cas| arc cas| ecu|va|erts cr accu|s|t|cr cl suus|c|a|] 2,490.20 ÷
Cas| arc cas| ecu|va|erts as at t|e erc cl t|e ]ea| 1,590.15 725.08
Noto:
Cas| arc Cas| Ecu|va|erts as pe| Ba|arce s|eet (see rcte 10} 1,823.36 922.12
less. Depcs|t urce| ||er 233.21 197.01
Cas| arc Cas| Ecu|va|ert as |epc|tec aucve 1,590.15 725.08
I|e accc¤par]|rç |ctes 1 tc 31 a|e ar |rteç|a| pa|t cl t|e l|rarc|a| state¤erts.
|r te|¤s cl cu| |epc|t attac|ec. For aod oo boha|I oI tho ßoard oI ß|roctors
For ßo|o|tto hask|os 8 8o||s ß. 8. Nagosh ßav| ßahoja ßov|od 8. 8hr|khaodo
C|a|te|ec /cccurtarts V|ce C|a||¤ar D||ectc| Custc¤e| Ca|e /sscc|ate c
Varaç|rç D||ectc|
8hyamak ß. Iata 6. ß. Nava|kar Frashaot Mohta
|a|tre| Custc¤e| Ca|e /sscc|ate c Custc¤e| Ca|e /sscc|ate c
Vu¤ua|, Datec . 29 /p|||, 2011 C|cup C||el ||rarc|a| 0ll|ce| Cc¤par] Sec|eta|] c
V|ce ||es|cert ÷ leça|
Couso|idated Statemeut of Cash F|ows for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 111
1. 8IßNIFI6ANI A660üNIINß F0II6IE8
a} ßas|s oI proparat|oo oI I|oaoc|a| statomoots
I|e l|rarc|a| state¤erts |ave ueer p|epa|ec urce| t|e ||stc||ca| ccst ccrvert|cr arc |r accc|carce w|t| Cere|a||] /cceptec
/cccurt|rç |||rc|p|es |rc|uc|rç app||cau|e /cccurt|rç Starca|cs |r |rc|a arc t|e p|cv|s|crs cl t|e Cc¤par|es /ct, 195c.
b} üso oI ost|matos
I|e p|epa|at|cr cl l|rarc|a| state¤erts |r ccrlc|¤|t] w|t| Cere|a||] /cceptec /cccurt|rç |||rc|p|es |ecu||es est|¤ates arc
assu¤pt|crs tc ue ¤ace t|at allect t|e |epc|tec a¤curts cl assets arc ||au|||t|es arc c|sc|csu|e cl ccrt|rçert ||au|||t|es cr t|e
cate cl t|e l|rarc|a| state¤erts arc t|e |epc|tec a¤curts cl |everues arc e·perses cu||rç t|e |epc|t|rç pe||cc. /ctua| |esu|ts
ccu|c c|lle| l|c¤ t|cse est|¤ates arc c|lle|erces uetweer actua| |esu|ts arc est|¤ates a|e |eccçr|sec |r t|e pe||ccs |r w||c|
t|e |esu|ts a|e |rcwr/¤ate||a||se.
c} F|xod Assots aod ßoproc|at|oo
Iaog|b|o Assots
||·ec assets a|e statec at t|e|| c||ç|ra| ccst cl accu|s|t|cr |ess accu¤u|atec cep|ec|at|cr arc |¤pa||¤ert |csses. Ccst cc¤p||ses
cl a|| ccst |rcu||ec tc u||rç t|e assets tc t|e|| |ccat|cr arc wc|||rç ccrc|t|cr arc |rc|uces a|| e·perses |rcu||ec up tc t|e cate
cl |aurc||rç rew stc|es tc t|e e·tert t|e] a|e att||uutau|e tc t|e rew stc|e.
Dep|ec|at|cr |s p|cv|cec, p|c |ata lc| t|e pe||cc cl use, u] t|e st|a|ç|t ||re ¤et|cc (SlV}, uasec cr ¤araçe¤ert's est|¤ate cl
uselu| ||ves cl t|e l|·ec assets, c| at t|e SlV |ates p|esc||uec |r Sc|ecu|e /|V tc t|e /ct w||c|eve| |s ||ç|e|, at t|e lc||cw|rç
arrua| |ates.
(%}
/|| ccrc|t|cr|rç arc ct|e| ecu|p¤ert 5.00÷33.00
|u|r|tu|e, l|·tu|es arc ct|e| l|tt|rçs c.33÷20.00
Cc¤pute|s 1c.21÷33.33
Ve||c|es 9.50÷20.00
lease|c|c |¤p|cve¤erts 5.82÷20.00
Iotaog|b|o Assots
|rtarç|u|e assets a|e statec at t|e|| ccst cl accu|s|t|cr, |ess accu¤u|atec a¤c|t|sat|cr arc |¤pa||¤ert |csses. /r |rtarç|u|e
asset |s |eccçr|sec, w|e|e |t |s p|cuau|e t|at t|e lutu|e eccrc¤|c uerel|ts att||uutau|e tc t|e asset w||| l|cw tc t|e erte|p||se
arc w|e|e |ts ccst car ue |e||au|] ¤easu|ec. I|e cep|ec|au|e a¤curt cl |rtarç|u|e assets |s a||ccatec cve| t|e uest est|¤ate cl
|ts uselu| ||le cr a st|a|ç|t-||re uas|s.
I|ace¤a||s, paterts arc cc¤pute| scltwa|e a|e a¤c|t|sec ur|lc|¤|] cve| a pe||cc cl 10 arc c ]ea|s |espect|ve|].
Ccp]||ç|ts arc accu||ec Ccccw||| a|e a¤c|t|sec ur|lc|¤|] cve| a pe||cc cl 10 ]ea|s.
Impa|rmoot oI Assots
/r asset |s ccrs|ce|ec as |¤pa||ec |r accc|carce w|t| /cccurt|rç Starca|c 28 cr |¤pa||¤ert cl /ssets w|er at t|e ua|arce
s|eet cate t|e|e a|e |rc|cat|crs cl |¤pa||¤ert arc t|e ca||]|rç a¤curt cl t|e asset, c| w|e|e app||cau|e t|e cas| çere|at|rç
ur|t tc w||c| t|e asset ue|crçs, e·ceecs |ts |eccve|au|e a¤curt (|.e. t|e ||ç|e| cl t|e asset's ret se|||rç p||ce arc va|ue |r use}.
I|e ca||]|rç a¤curt |s |ecucec tc t|e |eccve|au|e a¤curt arc t|e |ecuct|cr |s |eccçr|sec as ar |¤pa||¤ert |css |r t|e p|cl|t
arc |css acccurt.
d} Iovostmoots
lcrç-te|¤ |rvest¤erts a|e statec at ccst. W|e|e app||cau|e, p|cv|s|cr |s ¤ace tc |eccçr|se a cec||re, ct|e| t|ar te¤pc|a|], |r
t|e va|ue cl lcrç-te|¤ |rvest¤erts.
Siguificaut Accouutiug Po|icies aud lotes formiug part of
Couso|idated Fiuaucia| Statemeuts for the year euded 31 March, 2O11 Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 115
o} ßovoouo rocogo|t|oo
Reverue |s |eccçr|sec w|er |t |s ea|rec arc rc s|çr|l|cart urce|ta|rt] e·|sts as tc |ts |ea||sat|cr c| cc||ect|cr.
Reta|| sa|es a|e |eccçr|sec cr ce||ve|] cl t|e ¤e|c|arc|se tc t|e custc¤e|, w|er t|e p|cpe|t] |r çcccs arc s|çr|l|cart ||s|s arc
|ewa|cs a|e t|arsle||ec lc| a p||ce arc rc ellect|ve cwre|s||p ccrt|c| |s |eta|rec..
I|e p|cpe|t] |r t|e ¤e|c|arc|se cl t|||c pa|t] ccrcess|cr stc|es |ccatec w|t||r t|e ¤a|r cepa|t¤erta| stc|e cl t|e Cc¤par]
passes tc t|e Cc¤par] crce a custc¤e| cec|ces tc pu|c|ase ar |te¤ l|c¤ t|e ccrcess|cr stc|e. I|e Cc¤par] |r tu|r se||s t|e
|te¤ tc t|e custc¤e| arc |s accc|c|rç|] |rc|ucec urce| Reta|| Sa|es.
I|e p|cpe|t] |r t|e ¤e|c|arc|se cl t|||c pa|t] ccrs|çr¤ert stcc| cces rct pass tc t|e Cc¤par]. S|rce, |cweve|, t|e sa|e
cl suc| stcc| lc|¤s a pa|t cl t|e act|v|t|es cl t|e Cc¤par]'s cepa|t¤erta| stc|es, t|e ç|css sa|es va|ues arc ccst cl t|e
¤e|c|arc|se a|e c|sc|csec sepa|ate|] arc lc|¤ pa|t cl tcta| Reta|| Iu|rcve| |r t|e p|cl|t arc |css acccurt.
Sa|es a|e ret cl c|sccurts. Va|ue /ccec Ia· arc Sa|es Ia· a|e |ecucec l|c¤ Reta|| Iu|rcve|.
|r |espect cl ç|lt vcuc|e|s arc pc|rt awa|c sc|e¤es cpe|atec u] t|e Cc¤par], sa|es a|e |eccçr|sec w|er t|e ç|lt vcuc|e|s c|
pc|rts a|e |ecee¤ec arc t|e ¤e|c|arc|se |s sc|c tc t|e custc¤e|.
Reverue l|c¤ stc|e c|sp|a]s arc spcrsc|s||ps a|e |eccçr|sec uasec cr t|e pe||cc lc| w||c| t|e p|ccucts c| t|e spcrsc|s'
acve|t|se¤erts a|e p|c¤ctec/c|sp|a]ec. |ac|||t] ¤araçe¤ert lees a|e |eccçr|sec p|c-|ata cve| t|e pe||cc cl t|e ccrt|act.
||arc||se |rcc¤e |s |eccçr|sec |r accc|carce w|t| t|e |ates spec|l|ec |r t|e l|arc||se aç|ee¤erts arc |s uasec cr t|e sa|es
|ecc|cec u] t|e l|arc||sees lc| t|e ]ea|.
I} Iocomo Irom Iovostmoots aod Ioaos
|rte|est |rcc¤e |s |eccçr|sec cr t|¤e p|cpc|t|cr uas|s. D|v|cerc |rcc¤e |s |eccçr|sec w|er ||ç|t tc |ece|ve pa]¤ert |s
estau||s|ec.
g} Iovootor|os
|rvertc||es a|e va|uec at t|e |cwe| cl ccst arc ret |ea||sau|e va|ue. Ccst cl |rvertc||es cc¤p||ses cl a|| ccsts cl pu|c|ase arc
ct|e| ccsts |rcu||ec |r u||rç|rç t|e |rvertc||es tc t|e|| p|esert ccrc|t|cr arc |ccat|cr. Ccst |s cete|¤|rec u] t|e we|ç|tec
ave|açe ccst ¤et|cc.
Ve|c|arc|se |ece|vec urce| ccrs|çr¤ert arc ccrcess|cra||e a||arçe¤erts ue|crç tc t|e ccrs|çrc|s/ccrcess|cra||es arc a|e
t|e|elc|e e·c|ucec l|c¤ t|e Cc¤par]'s |rvertc||es.
0pt|cr |rvertc||es cc¤p||ses cl ||ç|t tc accu||e l|ats |r a st|uctu|e tc ue ccrst|uctec u] t|e ct|e| pa|t], w||c| ||ç|t |s l|ee|]
¤a||etau|e/t|arsle|au|e alte| a st|pu|atec pe||cc. I|e sa¤e |s va|uec at |cwe| cl ccst arc ret |ea||tau|e va|ue.
h} Emp|oyoo boooI|ts
Cc¤persat|cr tc e¤p|c]ees lc| se|v|ces |erce|ec |s ¤easu|ec arc acccurtec lc| |r accc|carce w|t| /cccurt|rç Starca|c 15
cr E¤p|c]ee Berel|ts.
E¤p|c]ee Berel|ts suc| as sa|a||es, a||cwarces, rcr-¤creta|] uerel|ts arc e¤p|c]ee uerel|ts urce| cel|rec ccrt||uut|cr p|ars
suc| as p|cv|cert arc ct|e| lurcs, w||c| la|| cue lc| pa]¤ert w|t||r a pe||cc cl twe|ve ¤crt|s alte| |erce||rç se|v|ce, a|e
c|a|çec as e·perse tc t|e p|cl|t arc |css acccurt |r t|e pe||cc |r w||c| t|e se|v|ce |s |erce|ec.
E¤p|c]ee Berel|ts urce| cel|rec uerel|t p|ars arc ct|e| |crç-te|¤ e¤p|c]ee uerel|ts suc| as ç|atu|t] arc cc¤persatec
auserces w||c| la|| cue lc| pa]¤ert alte| cc¤p|et|cr cl e¤p|c]¤ert c| alte| a pe||cc cl twe|ve ¤crt|s l|c¤ |erce||rç se|v|ce,
a|e ¤easu|ec u] t|e p|cjectec ur|t c|ec|t ¤et|cc, cr t|e uas|s cl actua||a| va|uat|crs ca|||ec cut u] t|||c pa|t] actua||es at
eac| ua|arce s|eet cate. I|e cc¤par]'s cu||çat|crs |eccçr|sec |r t|e ua|arce s|eet |ep|esert t|e p|esert va|ue cl cu||çat|crs
as |ecucec u] t|e la|| va|ue cl p|ar assets, w|e|e app||cau|e.
/ctua||a| Ca|rs arc |csses a|e |eccçr|sec |¤¤ec|ate|] |r t|e ||cl|t c lcss /cccurt.
Shoppers Stop Ltd.
Siguificaut Accouutiug Po|icies aud lotes formiug part of
Couso|idated Fiuaucia| Statemeuts for the year euded 31 March, 2O11
/rrua| Repc|t 2010-11 | 11c
Siguificaut Accouutiug Po|icies aud lotes formiug part of
Couso|idated Fiuaucia| Statemeuts for the year euded 31 March, 2O1O
|} 0porat|og Ioaso
0pe|at|rç lease pa]¤erts a|e |eccçr|sec as ar e·perse |r t|e ||cl|t c lcss /cccurt cr a st|a|ç|t-||re uas|s c| ct|e| uases,
|ep|esertat|ve cl t|e t|¤e patte|r cl t|e use|'s uerel|t.
j} ßorrow|og costs
Bc||cw|rç ccsts att||uutau|e tc t|e accu|s|t|cr c| ccrst|uct|cr cl cua||l]|rç assets, as cel|rec |r /cccurt|rç Starca|c - 1c cr
Bc||cw|rç Ccsts, a|e cap|ta||sec as pa|t cl t|e ccst cl accu|s|t|cr. 0t|e| uc||cw|rç ccsts a|e e·persec as |rcu||ec.
k} Foro|go curroocy traosact|oos
I|arsact|crs |r lc|e|çr cu||erc|es a|e acccurtec at t|e p|eva|||rç |ates cl e·c|arçe cr t|e cate cl t|arsact|cr.
Vcreta|] |te¤s cerc¤|ratec |r lc|e|çr cu||erc|es, a|e |estatec at t|e p|eva|||rç |ates cl e·c|arçe at t|e Ba|arce S|eet cate.
/|| ça|rs arc |csses a||s|rç cut cl l|uctuat|crs |r e·c|arçe |ates a|e acccurtec lc| |r t|e ||cl|t c lcss /cccurt.
E·c|arçe c|lle|erces cr lc|wa|c e·c|arçe ccrt|acts, erte|ec |rtc lc| |ecç|rç lc|e|çr e·c|arçe l|uctuat|cr ||s| |r |espect cl ar
e·|st|rç asset/||au|||t], a|e |eccçr|sec |r t|e ||cl|t c lcss /cccurt |r t|e |epc|t|rç pe||cc |r w||c| t|e e·c|arçe |ate c|arçes.
||e¤|u¤/D|sccurt cr lc|wa|c e·c|arçe ccrt|acts a|e t|eatec as ar e·perse/|rcc¤e cve| t|e ||le cl t|e ccrt|act.
|} Iocomo Iax
|rcc¤e ta·es a|e acccurtec lc| |r accc|carce w|t| /cccurt|rç Starca|c-22 cr /cccurt|rç lc| Ia·es cr |rcc¤e. Ia·es cc¤p||se
uct| cu||ert arc cele||ec ta·.
||cv|s|cr lc| cu||ert ta· |s ¤ace ta||rç |rtc acccurt ac¤|ss|u|e a||cwarces, c|sa||cwarces urce| t|e p|cv|s|crs cl |rcc¤e Ia·
/ct, 19c1, us|rç t|e app||cau|e ta· |ates.
Dele||ec ta· |esu|t|rç l|c¤ t|e t|¤|rç c|lle|erces uetweer ta·au|e |rcc¤e arc acccurt|rç |rcc¤e |s acccurtec us|rç app||cau|e
ta· |ates arc |aws, eractec c| suustart|ve|] eractec as at t|e Ba|arce S|eet.
I|e cele||ec ta· asset |s |eccçr|sec arc ca|||ec lc|wa|c cr|] tc t|e e·tert t|at t|e|e |s |eascrau|e/v||tua| ce|ta|rt] t|at t|e
asset w||| ue |ea||sec |r lutu|e.
m} 8tock-basod compoosat|oo
I|e cc¤persat|cr ccst cl stcc| cpt|crs ç|artec tc e¤p|c]ees |s ca|cu|atec us|rç t|e |rt||rs|c va|ue cl t|e stcc| cpt|crs. I|e
cc¤persat|cr e·perse |s a¤c|t|sec ur|lc|¤|] cve| t|e vest|rç pe||cc cl t|e cpt|cr.
o} Earo|ogs For 8haro
I|e cc¤par] |epc|ts uas|c arc c||utec Ea|r|rçs |e| S|a|e (E|S} |r accc|carce w|t| /cccurt|rç Starca|c÷20 cr Ea|r|rçs |e|
S|a|e. Bas|c E|S |s cc¤putec u] c|v|c|rç t|e ret p|cl|t c| |css lc| t|e ]ea| u] t|e we|ç|tec ave|açe ru¤ue| cl ecu|t] s|a|es
cutstarc|rç cu||rç t|e ]ea|. D||utec E|S |s cc¤putec u] c|v|c|rç t|e ret p|cl|t c| |css lc| t|e ]ea| u] t|e we|ç|tec ave|açe
ru¤ue| cl ecu|t] s|a|es cutstarc|rç cu||rç t|e ]ea| as acjustec lc| t|e ellects cl a|| c||ut|ve pctert|a| ecu|t] s|a|es, e·cept
w|e|e t|e |esu|ts a|e art|-c||ut|ve.
o} 6ash F|ow 8tatomoot
I|e Cas| ||cw State¤ert |s p|epa|ec u] t|e |rc||ect ¤et|cc set cut |r /cccurt|rç Starca|c÷3 cr Cas| ||cw State¤erts arc
p|eserts t|e cas| l|cws u] cpe|at|rç, |rvest|rç arc l|rarc|rç act|v|t|es cl t|e Cc¤par]. Cas| arc cas| ecu|va|erts p|esertec
|r t|e Cas| ||cw State¤ert ccrs|st cl cas| cr |arc arc urercu¤ue|ec uar| ua|arces.
p} Frov|s|oo, 6oot|ogoot I|ab|||t|os aod 6oot|ogoot Assots
||cv|s|crs |rvc|v|rç suustart|a| ceç|ee cl est|¤at|cr |r ¤easu|e¤ert a|e |eccçr|tec w|er t|e|e |s a p|esert cu||çat|cr as a
|esu|t cl past everts arc |t |s p|cuau|e t|at t|e|e w||| ue ar cutl|cw cl |escu|ces. Ccrt|rçert l|au|||t|es a|e rct |eccçr|sec uut
a|e c|sc|csec |r t|e rctes tc t|e l|rarc|a| state¤erts. D|sc|csu|e |s rct ¤ace |l t|e pcss|u|||t] cl ar cutl|cw cl lutu|e eccrc¤|c
uerel|ts |s |e¤cte. Ccrt|rçert assets a|e re|t|e| |eccçr|sec rc| c|sc|csec |r t|e l|rarc|a| state¤erts.
Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 117
(A|| amouots |o |acs}
Mar-11 Va|-10
2. 8hAßE 6AFIIAI
Author|sod
200,000,000 ecu|t] s|a|es cl 5/- eac|
(2010. 100,000,000 cl 10 eac|} (see |cte 31} 10,000.00 10,000.00
Issuod aod 8ubscr|bod
82,1cc,83c ecu|t] s|a|es cl 5/- eac| lu||] pa|c-up
(2010. 31,911,311 ecu|t] s|a|es cl 10/- eac| lu||] pa|c-up} (see |cte 32} 4,108.34 3,191.13
4,108.34 3,191.13
urce| E¤p|c]ee Stcc| 0pt|cr Sc|e¤es t|e Cc¤par] |as ç|artec
(ret cl cpt|crs |apsec}.
a} 219,27c (2010 . 225,cc0} 0pt|crs |r 2001-05, cl w||c| 219,27c
vestec cpt|crs |ave ueer e·e|c|sec.
u} 118,351 (2010 . 152,902} 0pt|crs |r 2001-05, cl w||c| 118,351
vestec cpt|crs |ave ueer e·e|c|sec.
c} 112,5c2 (2010 . 115,970} 0pt|crs |r 2005-0c, cl w||c| 89,c30
vestec cpt|crs |ave ueer e·e|c|sec.
c} 1,011,cc0 (2010 . 1,025,100} 0pt|crs |r 2009-10, cl w||c| 253,5c0
vestec cpt|crs |ave ueer e·e|c|sec.
e} 389,000 (2010 . 100,000} 0pt|crs |r 2009-10, cl w||c| 13,200
vestec cpt|crs |ave ueer e·e|c|sec.
0l t|e aucve, 338,118 cpt|crs we|e e·e|c|sec cu||rç t|e ]ea|.
Noto: Eac| cpt|cr ert|t|es t|e |c|ce| t|e|ecl tc app|] lc| arc ue a||cttec
1 0|c|ra|] S|a|es cl t|e lace va|ue cl 5/- eac|.
3. ßE8EßvE8 ANß 8üßFIü8
8ocur|t|os From|um Accouot
Ba|arce at ueç|rr|rç cl t|e ]ea| 21,068.21 20,9c1.c1
/cc. Rece|vec cu||rç t|e ]ea| (a|sc see |cte 32} 24,954.26 103.c0
less. ut|||sec lc| S|a|e |ssue e·perses (385.07} ÷
45,637.40 21,0c8.21
ßooora| ßosorvo
Ba|arce at ueç|rr|rç cl t|e ]ea| 552.45 301.30
I|arsle||ec l|c¤ ||cl|t c lcss /cccurt 375.88 251.15
less. Deu|t ua|arce |r ||cl|t c lcss /cccurt cecuctec as pe| ccrt|a 589.58 81.cc
338.75 1c7.79
Emp|oyoos' 8tock 0pt|oos outstaod|og (soo Noto 29} 5.10 20.11
45,981.25* 21,55c.11'
' |rc|uces s|a|e |r Jc|rt Vertu|es - lcss 3,1c0.18 lacs (2010 . 2,807.cc lacs}
Shoppers Stop Ltd. lotes to Couso|idated Fiuaucia| Statemeuts
/rrua| Repc|t 2010-11 | 118
(A|| amouots |o |acs}
Mar-11 Va|-10
4. 8E6üßEß I0AN8
(Rele| |cte ue|cw}
From ßaoks
Ie|¤ lcars 6,816.56 9,cc8.12
Cas| C|ec|t 3,560.52 1,309.19
Wc|||rç Cap|ta| De¤arc lcars 9,714.13 7,005.c9
B||| c|sccurt|rç 110.24 ÷
Bu]e|s C|ec|t 429.37 151.80
20,630.82 18,131.80
S|a|e |r Jc|rt Vertu|es (see rcte 33} 1,046.15 2,27c.01
21,676.97 20,710.81
Notos:
a. Ie|¤ lcars, Cas| C|ec|t |ac|||t|es arc Wc|||rç Cap|ta| De¤arc lcars a|e secu|ec
u] a l||st c|a|çe cr a|| ¤cvau|e tarç|u|e p|cpe|t|es arc ar e·c|us|ve ||er cr |ease
cepcs|ts arc cr a|| cu||ert assets, uct| p|esert arc lutu|e.
u. Ie|¤ lcars |r Jc|rt Vertu|es a|e secu|ec u] a l||st c|a|çe cr |ece|vau|es arc stcc|,
uct| p|esert arc lutu|e arc cc|pc|ate çua|artee ç|ver u] t|e jc|rt vertu|e|s.
5. üN8E6üßEß I0AN8
Wc|||rç Cap|ta| Ie|¤ lcar 2,125.00 ÷
Cc¤¤e|c|a| |ape|' 2,000.00 ÷
B||| D|sccurt|rç 499.28 ÷
0t|e|s ~ 2,20c.19
4,624.28 2,20c.19
' (Repa]au|e w|t||r cre ]ea| 2,000 |acs, Va·|¤u¤ a¤curt cutstarc|rç
cu||rç t|e ]ea| c,000 |acs}
Shoppers Stop Ltd. lotes to Couso|idated Fiuaucia| Statemeuts
/rrua| Repc|t 2010-11 | 119
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Shoppers Stop Ltd. lotes to Couso|idated Fiuaucia| Statemeuts
/rrua| Repc|t 2010-11 | 120
(A|| amouots |o |acs}
Mar-11 Va|-10
7. INvE8IMENI8 (Irado, Ioog-torm at cost, uoquotod}
Sta|çate ||cpe|t|es |||vate l|¤|tec 0.10 0.10
1,000 ecu|t] s|a|es cl 10/- eac| lu||] pa|c
Reta||e|s /sscc|at|cr cl |rc|a 1.00 1.00
10,000 ecu|t] s|a|es cl 10/- eac| lu||] pa|c
/est|et|c Rea|tc|s |||vate l|¤|tec
cc Ecu|t] S|a|es cl 10/- eac| lu||] |a|c 0.01 0.01
Io Assoc|ato 6ompaoy:
|]pe|c|t] Reta|| (|rc|a} l|¤|tec'
180,500 Ecu|t] S|a|es cl 10/- eac| lu||] |a|c ~ 20.19
less. S|a|e cl lcss cl asscc|ate Cc¤par] (|est||ctec tc t|e va|ue cl |rvest¤ert} ~ (20.19}
~ ÷
'Beca¤e a suus|c|a|] cc¤par] w.e.l. 30 Jure, 2010
||| (2010. 39,900,000}, 7º Cu¤u|at|ve Recee¤au|e ||ele|erce ~ 3,990.00
s|a|es cl 10/- eac| lu||] |a|c
0thors:
|rvest¤erts |r Ccve|r¤ert Secu||t|es (|.S.C.} ~ 0.02
1.11 3,991.13
8. INvENI0ßIE8
(/t |cwe| cl ccst arc |et |ea||sau|e va|ue}
Reta|| ¤e|c|arc|se 23,914.47 11,989.32
0pt|cr |rvertc||es 475.00 ÷
S|a|e |r Jc|rt Vertu|es (see rcte 33} 665.20 915.80
25,054.67 15,905.12
9. 8üNßߥ ßEßI0ß8
(ursecu|ec}
Deuts cutstarc|rç lc| ¤c|e t|ar c ¤crt|s
÷ Ccrs|ce|ec çccc 34.00 8c.21
÷ Ccrs|ce|ec ccuutlu| 81.35 1c.10
0t|e| Deuts, ccrs|ce|ec çccc 2,002.85 1,021.19
2,118.20 1,157.10
less. ||cv|s|cr lc| ccuutlu| ceuts 81.35 1c.10
2,036.85 1,110.70
S|a|e |r Jc|rt Vertu|es (see rcte 33} 104.02 112.52
2,140.87 1,223.22
10. 6A8h ANß ßANk ßAIAN6E8
Cas| cr |arc 265.48 155.37
Ba|arces w|t| sc|ecu|ec uar|s.
÷ |r Cu||ert acccurts 276.00 281.c9
÷ |r Depcs|t acccurts 9.53 13.00
÷ |r Cas| C|ec|t acccurts 801.71 ÷
÷ |r Va|ç|r Vcre] acccurt (urce| ||er aça|rst uar| çua|artee} 28.39 22.87
1,381.11 172.93
S|a|e |r Jc|rt Vertu|es (see rcte 33} 442.25 119.19
1,823.36 922.12
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Mar-11 Va|-10
11. I0AN8 ANß AßvAN6E8
(ursecu|ec, ccrs|ce|ec çccc ur|ess ct|e|w|se statec}
lcars arc acvarces tc C|cup cc¤par|es 122.84 5,38c.80
/cvarces |eccve|au|e |r cas| c| |r ||rc c| lc| va|ue tc ue |ece|vec.
Ccrs|ce|ec Cccc 5,649.65 3,713.c1
Ccrs|ce|ec Dcuutlu| 548.32 393.73
6,197.97 1,107.37
||e¤|ses arc ct|e| cepcs|ts 14,828.74 10,510.30
|rcc¤e ta·es pa|c (ret cl ta· p|cv|s|crs} 306.02 792.38
21,455.57 20,79c.85
less. ||cv|s|cr lc| ccuutlu| acvarces 548.32 393.73
20,907.25 20,103.12
S|a|e |r Jc|rt Vertu|es (see rcte 33} 1,330.38 1,711.11
22,237.63 22,117.2c
12. 6üßßENI IIAßIIIIIE8 ANß Fß0vI8I0N8
Cu||ert l|au|||t|es
Surc|] c|ec|tc|s 33,180.62 25,1c3.98
Secu||t] cepcs|ts 352.57 332.18
0t|e| l|au|||t|es 3,052.74 c25.00
36,585.93 2c,121.1c
S|a|e |r Jc|rt Vertu|es (see rcte 33} 1,525.06 1,123.27
38,110.99 27,811.73
||cv|s|crs
|c| ||cpcsec D|v|cerc 616.26 523.72
|c| Cc|pc|ate D|v|cerc Ia· 99.97 8c.99
|c| C|atu|t] 108.32 5.00
|c| leave ercas|¤ert 251.99 179.91
1,076.54 795.c2
S|a|e |r Jc|rt Vertu|es (see rcte 33} 7.77 8.87
1,084.31 801.19
39,195.30 28,c19.22
13. 0IhEß ßEIAII 0FEßAIINß IN60ME
|ac|||t] ¤araçe¤ert lees 875.68 c31.17
|rcc¤e l|c¤ stc|e c|sp|a]s arc spcrsc|s||p |rcc¤e 1,557.39 185.12
D||ect ¤a||et|rç |rcc¤e 779.46 128.1c
Re||rcu|s|¤ert cl ceve|cp¤ert ||ç|ts ~ cc0.18
|rcc¤e l|c¤ l|arc||sees 269.33 231.11
3,481.86 2,112.07
S|a|e |r Jc|rt Vertu|es (see rcte 33} 280.92 212.c0
3,762.78 2,c51.c7
14. 0IhEß IN60ME
|rte|est |rcc¤e 240.71 c31.93
V|sce||arecus |rcc¤e arc c|ec|ts 165.05 152.cc
||cl|t cr sa|e cl l|·ec assets (ret} 37.27 85.77
|c|e|çr e·c|arçe ça|r (ret} ~ 51.13
443.03 921.79
S|a|e |r Jc|rt Vertu|es (see rcte 33} 68.27 5.c2
511.30 927.11
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Mar-11 Va|-10
15. 608I 0F ß00ß8 80Iß
(|rc|uc|rç ccrcess|cr pu|c|ases}
0per|rç stcc| 14,989.32 11,198.10
/cc . /cjust¤ert cr accu|s|t|cr cl a suus|c|a|] 6,241.38 ÷
/cc. |u|c|ases 149,105.51 88,8c5.31
less. C|cs|rç stcc| 24,389.47 11,989.32
145,946.74 88,371.12
S|a|e |r Jc|rt Vertu|es (see rcte 33} 1,732.18 1,815.98
147,678.92 90,220.10
16. EMFI0¥EE 608I8
Sa|a||es, a||cwarce arc ucrus 12,261.10 7,9c2.10
Ccrt||uut|cr tc ||cv|cert arc ct|e| lurcs 651.98 370.25
C|atu|t] arc |eave ercas|¤ert 212.73 238.38
Stall we|la|e e·perses 502.24 199.c0
13,628.05 8,770.33
S|a|e |r Jc|rt Vertu|es (see rcte 33} 362.84 127.81
13,990.89 9,198.11
17. 0FEßAIINß ANß AßMINI8IßAIIvE EkFEN8E8
|rsu|arce 114.59 57.52
lease |ert arc |||e C|a|çes 18,558.38 13,7c9.72
Bus|ress ccrcuct|rç lees 931.68 98c.1c
Rates arc ta·es 52.93 17.13
Repa||s arc ¤a|rterarce
÷ Bu||c|rçs 4,193.20 2,171.c1
÷ 0t|e|s 1,003.84 557.11
leça| arc p|cless|cra| lees 419.20 323.10
|cuse|eep|rç c|a|çes 911.36 179.92
Secu||t] c|a|çes 1,205.46 705.89
Cc¤pute| e·perses 760.15 791.79
Ccrve]arce arc t|ave|||rç e·perses 1,116.13 723.92
C|ea||rç c |c|wa|c|rç c|a|çes ~ 591.c1
E|ect||c|t] c|a|çes 4,774.73 3,191.19
/cve|t|se¤ert arc puu||c|t] 3,259.19 1,c11.12
Sa|es p|c¤ct|cr 1,782.93 1,872.31
C|a|çes cr c|ec|t ca|c t|arsact|crs 1,581.70 889.90
|ac||rç ¤ate||a|s 1,091.96 185.72
lcss cr Sa|e cl ||·ec /ssets (ret} 91.52 ÷
||cv|s|cr lc| Dcuutlu| ceuts/acvarces 14.00 127.73
|c|e|çr e·c|arçe |css (ret} 52.20 ÷
Se|v|ce ta· |rput c|ec|t e·persec 1,870.33 753.37
V|sce||arecus e·perses 2,665.36 1,302.83
46,450.84 32,319.28
S|a|e |r Jc|rt Vertu|es (see rcte 33} 2,264.29 2,509.39
48,715.13 31,858.c7
18. INIEßE8I ANß FINAN6E 6hAßßE8
|rte|est
÷ 0r l|·ec |cars l|c¤ uar|s 1,826.87 1,193.c5
÷ 0r 0t|e| lcars 649.61 c1c.72
||rarce c|a|çes 254.87 cc.01
2,731.35 2,20c.11
S|a|e |r Jc|rt Vertu|es (see rcte 33} 221.55 33c.87
2,952.90 2,513.28
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19. Reta|| Iu|rcve| |r t|e ||cl|t c lcss /cccurt |rc|cates t|e ç|css vc|u¤es cl uus|ress arc cpe|at|crs.
(A|| amouots |o |acs}
Mar-11 Va|-10
20. Est|¤atec a¤curt cl ccrt|acts |e¤a|r|rç tc ue e·ecutec cr cap|ta| acccurt
arc rct p|cv|cec lc| 3,528.21 2,311.c3
21. 60NIINßENI IIAßIIIIIE8 IN ßE8FE6I 0F:
a} Cua|artee ç|ver lc| |car ta|er u] Jc|rt vertu|e cc¤par|es l|c¤ uar|s 1,341.57 1,190.00
u} C|a|¤s aça|rst t|e Cc¤par] rct ac|rcw|ecçec as ceuts cc¤p||se cl.
(|} D|sputec |rcc¤e ta· ¤atte|s |r appea| 882.94 215.12
(||} D|sputec Sa|es Ia· / Erte|ta|r¤ert Ia· ¤atte|s |r appea| 16.46 128.c3
(|||} D|sputec Custc¤s Dut] 17.09 21.00
c} Ccrt|rçert ccrt|actua| c|a|¤s 644.96 23c.19
c} ||ele|erce D|v|cerc |a]au|e 1,981.17 ÷
e} 0t|e|s 52.25 ÷
l} S|a|e cl Jc|rt Vertu|es (see rcte 33} 439.90 1c1.82
Noto: |utu|e cas| cutl|cws |r |espect cl (u} aucve a|e cete|¤|rau|e cr|] cr |ece|pt cl jucçe¤erts/cec|s|crs perc|rç w|t| va||cus
lc|u¤s/aut|c||t|es.
22. 8EßvI6E IAk
|u|suart tc |ev] cl se|v|ce ta· cr |ert|rç cl |¤¤cveau|e p|cpe|t|es ç|ver lc| cc¤¤e|c|a| use, |et|cspect|ve|] w|t| ellect l|c¤
1 Jure 2007 u] t|e ||rarce /ct, 2010, t|e C|cup |as, uasec cr a |eça| acv|ce, c|a||erçec t|e sa|c |ev] arc, |rte|-a||a, |ts |et|cspect|ve
app||cat|cr |r va||cus ||ç| Ccu|ts. /r |rte||¤ sta] |as ueer ç|artec u] va||cus ||ç| Ccu|ts l|c¤ |eccve|] cl t|e sa|c Se|v|ce Ia·
arc t|e ¤atte| |s perc|rç. /ccc|c|rç|], t|e C|cup |as rct p|cv|cec lc| Se|v|ce Ia· açç|eçat|rç tc 2,027 |acs lc| t|e |et|cspect|ve
pe||cc uptc 31 Va|c| 2010, w||c| w||| ue app|cp||ate|] |eccçr|sec cr l|ra| cete|¤|rat|cr.
23. IEA8INß IßAN8A6II0N8 Mar-11 Va|-10
a} 0pe|at|rç |ease |erta|s c|a|çec tc |everue 13,607.65 10,925.7c
u} Va||au|e |erta|s c|a|çec tc |everue. 5,682.13 1,117.c1
Va||au|e |ert lc| ce|ta|r stc|es |s pa]au|e |r accc|carce w|t| t|e
|ease aç|ee¤ert as t|e ||ç|e| cl (a} l|·ec ¤|r|¤u¤ çua|artee a¤curt
arc (u} |everue s|a|e pe|certaçe.
c} I|e lutu|e ¤|r|¤u¤ |erta| pa]¤erts |r |espect cl rcr-carce||au|e |ease lc|
p|e¤|ses a|e as lc||cws .
|ct |ate| t|ar cre ]ea| 10,499.39 7,705.82
late| t|ar cre ]ea| arc rct |ate| t|ar l|ve ]ea|s 20,292.32 11,310.27
late| t|ar l|ve ]ea|s 3,231.96 1,c11.51
I|e aç|ee¤erts a|e e·ecutec lc| pe||ccs |arç|rç l|c¤ 33 tc 288 ¤crt|s w|t| a rcr-carce||au|e pe||cc at t|e ueç|rr|rç cl
t|e aç|ee¤ert |arç|rç l|c¤ 33 tc 108 ¤crt|s arc |av|rç a |erewau|e c|ause.
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(A|| amouots |o |acs}
Mar-11 Va|-10
24. (a} IAk 6hAßßE
I|e ta· e·perse lc| t|e ]ea| cc¤p||ses cl.
|rcc¤e Ia·
÷ Cu||ert Ia· 3,788.68 1,915.17
÷ Dele||ec Ia· 262.00 (117.c0}
÷ V/I C|ec|t (163.04} ÷
÷ Ia· acjust¤erts/p|cv|s|cr lc| ea|||e| ]ea|s ÷ 1c1.88
÷ |||rçe Berel|ts Ia· ÷ 3.00
3,887.64 1,c35.15
(b} ßEFEßßEß IAk A88EI (NEI}
Vajc| cc¤pcrerts cl Dele||ec Ia· /sset arc l|au|||t] a|e as lc||cws.
Dele||ec Ia· ||au|||t]
0r l|sca| a||cwarces cr l|·ec assets 126.87 ÷
126.87 ÷
Dele||ec Ia· /ssets
0r l|sca| a||cwarces cr l|·ec assets ÷ 281.27
0r p|cv|s|cr lc| ccuutlu| ceuts/acvarces 340.60 59.1c
0r l|sca| a||cwarces cr e·perc|tu|e w|er pa|c 111.27 111.27
451.87 155.00
Dele||ec ta· asset (|et} 325.00 155.00
(c} ßoIorrod Iax I|ab|||ty
Vajc| cc¤pcrerts cl Dele||ec Ia· l|au|||t] a|e as lc||cws.
Dele||ec ta· ||au|||t]
0r l|sca| a||cwarces cr l|·ec assets 222.41 ÷
222.41 ÷
Dele||ec Ia· /ssets
0r l|sca| a||cwarces cr e·perc|tu|e w|er pa|c 8.69 ÷
urausc|uec cep|ec|at|cr 81.72 ÷
90.41 ÷
Dele||ec ta· l|au|||t] (|et} 132.00 ÷
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(A|| amouots |o |acs}
25. EMFI0¥EE ßENEFII8 Mar-11 Va|-10
Fost-omp|oymoot boooI|ts
ßoI|ood cootr|but|oo p|aos
Cc¤par]'s ccrt||uut|cr tc ||cv|cert |urc 657.85 385.18
ßoI|ood boooI|t schomo-ßratu|ty
a. 6ompoooot oI Emp|oyor Expooso
Cu||ert Se|v|ce Ccst 123.09 73.81
|rte|est Ccst 24.04 21.22
E·pectec Retu|r cr ||ar assets (26.72} (20.55}
/ctua||a| lcsses 91.55 11.c0
211.96 89.11
b. 6haogo |o ßoI|ood ßoooI|t 0b||gat|oos (ßß0}
||esert Va|ue cl DB0 at t|e Beç|rr|rç cl |e||cc 268.81 285.21
/ccu||ec cr /ccus|t|cr cl |]pe|c|t] 49.98 ÷
Cu||ert Se|v|ce Ccst 123.09 73.81
|rte|est Ccst 24.04 21.22
/ctua||a| lcsses 93.55 (1.85}
Berel|ts pa|c/t|arsle||ec (24.26} (109.c1}
||esert Va|ue cl DB0 at t|e Erc cl |e||cc 535.21 2c8.81
c. 6haogo |o Fa|r va|uo oI Assots
||ar /ssets at t|e Beç|rr|rç cl |e||cc 263.81 281.15
/ccu||ec cr /ccus|t|cr cl |]pe|c|t] 68.68 ÷
E·pectec Retu|r cr ||ar /ssets 26.72 20.55
/ctua||a| Ca|rs/(lcsses} 2.00 (1c.25}
/ctua| Cc¤par] Ccrt||uut|cr 89.94 87.c7
Berel|ts pa|c/t|arsle||ec (24.26} (109.c1}
||ar /ssets at t|e Erc cl |e||cc 426.89 2c3.81
d. Not Assot/(I|ab|||ty} ßocogo|sod |o ßa|aoco 8hoot
||esert Va|ue cl Del|rec Berel|t 0u||çat|cr 535.21 2c8.81
|a|| Va|ue cl ||ar /ssets 426.89 2c3.81
Status [Su|p|us/(Del|c|t}[ (108.32} (5.00}
ur|eccçr|sec |ast Se|v|ce Ccst ~ ÷
|et /sset/(l|au|||t]} Reccçr|sec |r Ba|arce S|eet (108.32} (5.00}
o. Actuar|a| assumpt|oos
D|sccurt Rate 7.75%-8.25% p.a. 7.50º÷8.25º p.a.
E·pectec Retu|r cr ||ar /ssets 8.00% p.a. 8.00º p.a.
Rate cl |rc|ease |r sa|a||es 4.00-5.00% p.a. 1.00÷5.00º p.a.
Rate cl /tt||t|cr 2.00-13.76% 2.00÷13.7cº
I. Not Assot/(I|ab|||ty} rocogo|sod |o ßa|aoco 8hoot (|oc|ud|og oxpor|ooco adjustmoot |mpact}
31 March 31 March 31 March 31 March
2011 2010 2009 2008
||esert Va|ue cl t|e Del|rec Berel|t 0u||çat|cr 535.21 2c8.81 285.21 192.c0
|a|| Va|ue cl t|e ||ar /ssets 12c.89 2c3.81 281.15 192.c0
Su|p|us/(Del|c|t} |r t|e ||ar (108.32} (5.00} (3.7c} ÷
E·pe||erce /cjust¤erts a||s|rç cr ||ar l|au|||t|es ÷ lcsses/(Ca|rs} 120.21 (19.15} (0.11} ÷
E·pe||erce /cjust¤erts a||s|rç cr ||ar /ssets ÷ Ca|rs/(lcsses} 3.09 (1c.15} (15.83} ÷
I|e ç|cup e·pects tc ccrt||uute 125.39 |acs tc |ts C|atu|t] p|ar lc| t|e re·t ]ea|.
|r assess|rç t|e ç|cup |cst Ret||e¤ert l|au|||t|es, t|e ç|cup ¤cr|tc|s ¤c|ta||t] assu¤pt|crs arc uses up-tc-cate ¤c|ta||t] tau|es. I|e
uase ue|rç t|e l|C 1991-9c u|t|¤ate tau|es.
E·pectec |etu|r cr p|ar assets |s uasec cr e·pectat|cr cl t|e ave|açe |crç-te|¤ |ate cl |etu|r e·pectec cr |rvest¤erts cl t|e lurc
cu||rç t|e est|¤atec te|¤ cl t|e cu||çat|crs.
I|e est|¤ates cl lutu|e sa|a|] |rc|eases ccrs|ce|ec |r actua||a| va|uat|cr ta|e acccurt cl |rl|at|cr, ser|c||t], p|c¤ct|cr arc ct|e| |e|evart
lactc|s, suc| as supp|] arc ce¤arc |r t|e e¤p|c]¤ert ¤a||et.
I|e ç|atu|t] uerel|t sc|e¤e cl t|e ç|cup |s ¤araçec u] l|le |rsu|arce Cc|pc|at|cr cl |rc|a (l|C}. I|e ç|cup |s cu||ert|] awa|t|rç t|e
ceta||s cl t|e cc¤pcs|t|cr cl t|e p|ar assets, u] cateçc|], l|c¤ t|e l|C lc| t|e cu||ert arc t|e p|ev|cus ]ea|s arc |erce t|e c|sc|csu|es
as |ecu||ec u] /cccurt|rç Starca|c (/S} - 15 cr E¤p|c]ee Berel|ts |ave rct ueer ç|ver.
Shoppers Stop Ltd. lotes to Couso|idated Fiuaucia| Statemeuts
/rrua| Repc|t 2010-11 | 12c
26. ßEIAIEß FAßI¥ ßI86I08üßE8
|c||cw|rç a|e t|e ¤ate||a| t|arsact|cr w|t| |e|atec pa|t|es. (A|| amouots |o |acs, uo|oss othorw|so statod}
Naturo 6ompao|os
uodor commoo
cootro|/
s|go|I|caot
|oI|uooco (roIor
(b} bo|ow}
Jo|ot
vooturos
koy
Maoagomoot
Forsoooo|
Iota|
Furchaso oI Assots ÷ ÷ ÷ ÷
|]pe|c|t] Reta|| (|rc|a} l|¤|tec ÷ ÷ ÷ ÷
(1.18} ÷ ÷ (1.18}
8a|o oI Assots ÷ ÷ ÷ ÷
|]pe|c|t] Reta|| (|rc|a} l|¤|tec ÷ ÷ ÷ ÷
(209.c7} ÷ ÷ (209.c7}
8a|o oI Morchaod|so ÷ 38.12 ÷ 38.12
|uarce C|cup (|rc|a} |||vate l|¤|tec ÷ 38.12 ÷ ÷
(1.29} (31.52} ÷ (35.81}
Faymoot oI cooduct|og Ioos/Ioaso ßoot/
6ommoo Aroa Ma|otooaoco 6hargos
c,931.27 ÷ ÷ c,931.27
|vc|] ||cpe|t|es arc |cte|s |||vate l|¤|tec 1,8c5.82 ÷ ÷ ÷
|rc|u|t Va||s (|rc|a} |||vate l|¤|tec 2,939.31 ÷ ÷ ÷
/vacacc ||cpe|t|es arc I|ac|rç |rc|a |||vate
l|¤|tec
193.12 ÷ ÷ ÷
K. Ra|eja |I |a|| (|]ce|auac} |||vate l|¤|tec ÷ ÷ ÷ ÷
I||cr ||cpe|t|es |||vate l|¤|tec 1,93c.02 ÷ ÷ ÷
(3,810.28} ÷ ÷ (3,810.28}
Expoosos Fa|d 38c.83 ÷ ÷ 38c.83
K. Ra|eja Cc|p. |||vate l|¤|tec 8.1c ÷ ÷ ÷
|rc|u|t Va||s (|rc|a} |||vate l|¤|tec 205.32 ÷ ÷ ÷
/vacacc ||cpe|t|es arc I|ac|rç |rc|a |||vate
l|¤|tec
0.87 ÷ ÷ ÷
I||cr ||cpe|t|es |||vate l|¤|tec 172.18 ÷ ÷ ÷
(109.c9} ÷ ÷ (109.c9}
Iotorost ßoco|vod ÷ 22.18 ÷ 22.18
I|¤etcre Erte|ta|r¤ert |vt. ltc. ÷ 22.18 ÷ ÷
(578.75} ÷ ÷ (578.75}
Iotorost Expoosos 30.73 ÷ ÷ 30.73
K. Ra|eja |||vate l|¤|tec 30.73 ÷ ÷ ÷
|vc|] ||cpe|t|es arc |cte|s |||vate l|¤|tec ÷ ÷ ÷ ÷
(1.85} ÷ ÷ (1.85}
ßopos|ts Fa|d 329.22 ÷ ÷ 329.22
/vacacc ||cpe|t|es arc I|ac|rç |rc|a |||vate
l|¤|tec
207.c7 ÷ ÷ ÷
|vc|] ||cpe|t|es arc |cte|s |||vate l|¤|tec ÷ ÷ ÷ ÷
K. Ra|eja |I |a|| (|]ce|auac} |||vate l|¤|tec ÷ ÷ ÷ ÷
I||cr ||cpe|t|es |||vate l|¤|tec 121.55 ÷ ÷ ÷
(330.22} ÷ ÷ (330.22}
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Naturo 6ompao|os
uodor commoo
cootro|/
s|go|I|caot
|oI|uooco (roIor
(b} bo|ow}
Jo|ot
vooturos
koy
Maoagomoot
Forsoooo|
Iota|
ßo|mbursomoot oI Expoosos 531.91 13.37 ÷ 515.31
|rc|u|t Va||s (|rc|a} |||vate l|¤|tec 151.35 ÷ ÷ ÷
I||cr ||cpe|t|es |||vate l|¤|tec 80.59 ÷ ÷ ÷
|uarce C|cup (|rc|a} |||vate l|¤|tec ÷ 13.37 ÷ ÷
(c03.c9} (19.11} ÷ (c22.80}
Expoosos ßocovorod ÷ 21.22 ÷ 21.22
|uarce C|cup (|rc|a} |||vate l|¤|tec ÷ 21.22 ÷ ÷
(350.08} ÷ (350.08}
Iovostmoots Mado ÷ 390.57 ÷ 390.57
I|¤etcre Erte|ta|r¤ert |||vate l|¤|tec ÷ 390.57 ÷ ÷
(950.00} ÷ ÷ (950.00}
ßopos|t ßoco|vod ßack 3c.11 ÷ ÷ 3c.11
|vc|] ||cpe|t|es arc |cte|s |||vate l|¤|tec 3c.11 ÷ ÷ ÷
K. Ra|eja |I |a|| (|]ce|auac} |||vate l|¤|tec ÷ ÷ ÷ ÷
(17.51} ÷ ÷ (17.51}
Ioao ß|voo ÷ ÷ ÷ ÷
I|¤etcre Erte|ta|r¤ert |||vate l|¤|tec ÷ ÷ ÷ ÷
(9,589.50} (110.00} ÷ (9,c99.50}
Ioao Iakoo 1,050.00 ÷ ÷ 1,050.00
K. Ra|eja |||vate l|¤|tec 1,050.00 ÷ ÷ ÷
(130.18} ÷ ÷ (130.18}
Ioao ßopa|d 2,10c.15 ÷ ÷ 2,10c.15
K. Ra|eja |||vate l|¤|tec 2,10c.15 ÷ ÷ ÷
(310.c5} ÷ ÷ (310.c5}
Issuo oI Equ|ty/FroIorooco 8haros 15,c1c.20 ÷ ÷ 15,c1c.20
Ete|rus lcç|st|cs |vt. ltc.(||ele|erce S|a|es} 911.50 ÷ ÷ ÷
Suppc|t ||cpe|t|es |vt. ltc.(||ele|erce S|a|es} 2,111.50 ÷ ÷ ÷
Raç|u|cc| Estate Deve|cp¤ert |||vate l|¤|tec 1,100.85 ÷ ÷ ÷
Capstar I|ac|rç |||vate l|¤|tec 1,100.85 ÷ ÷ ÷
Casa Va||a p|cpe|t|es |||vate l|¤|tec 1,085.50 ÷ ÷ ÷
÷ (110.00} ÷ (110.00}
ßocovory oI Ioao ÷ ÷ ÷ ÷
|]pe|c|t] Reta|| (|rc|a} l|¤|tec ÷ ÷ ÷ ÷
(5,955.00} ÷ ÷ (5,955.00}
Advaoco to ß|roctors ÷ ÷ ÷ ÷
÷ ÷ (211.0c} (211.0c}
ßomuoorat|oo to ß|roctors ÷ ÷ 3c9.71 3c9.71
÷ ÷ (171.92} (171.92}
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ßa|aoco outstaod|og at tho yoar ood
ßoco|vab|os
/vacacc ||cpe|t|es arc I|ac|rç |rc|a |||vate l|¤|tec 315.20
÷
|]pe|c|t] Reta|| (|rc|a} l|¤|tec ÷
(3,082.13}
|vc|] ||cpe|t|es arc |cte|s |||vate l|¤|tec 1,211.55
(1,082.c2}
|rc|u|t Va||s (|rc|a} |||vate l|¤|tec 931.11
(c15.8c}
I|¤etcre Erte|ta|r¤ert |||vate l|¤|tec 5cc.29
(111.07}
|uarce C|cup (|rc|a} |||vate l|¤|tec 133.79
(51.78}
I||cr ||cpe|t|es |||vate l|¤|tec 337.95
(21c.10}
Ke] Varaçe¤ert |e|scrre| ÷
(211.0c}
I|e l|çu|e |r u|ac|et pe|ta|r tc p|ev|cus ]ea|.
Namos oI ro|atod part|os aod doscr|pt|oo oI ro|at|oosh|p:
(a} ||c¤cte| c||ectc|s |av|rç ccrt|c|/s|çr|l|cart C. l. Ra|eja, Rav| C. Ra|eja, |ee| C. Ra|eja
|rl|uerce cve| cc¤par|es statec |r (u} ue|cw
(u} Cc¤par|es |r w||c| t|e pe|scrs statec |r (a} |vc|] ||cpe|t|es arc |cte|s |||vate l|¤|tec, K.Ra|eja Cc|p. |||vate
aucve |ave ccrt|c|/s|çr|l|cart |rl|uerce l|¤|tec, K. Ra|eja |||vate l|¤|tec, |rc|u|t Va||s (|rc|a} |||vate l|¤|tec,
|]pe|c|t] Reta|| (|rc|a} l|¤|tec, /vacacc ||cpe|t|es arc I|ac|rç |rc|a
|||vate l|¤|tec, K. Ra|eja |I |a|| (|]ce|auac} |||vate l|¤|tec, I||cr
||cpe|t|es |||vate l|¤|tec.
(c} Jc|rt Vertu|es |uarce C|cup (|rc|a} |||vate l|¤|tec.
I|¤etcre Erte|ta|r¤ert |||vate l|¤|tec.
(c} Ke] Varaçe¤ert |e|scrre| E·ecut|ve D||ectc|. Ccv|rc S|||||arce
|cr E·ecut|ve D||ectc|s. C|arc|u l. Ra|eja
Rav| Ra|eja
|ee| Ra|eja
B. S. |açes|
Cu|u l. V||c|arcar|
S|a|taac Da|a|
||t|r Sarç|av|
Deepa| C|a|sas
|||v|| S|rç|
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27. 8EßMENI ßEF0ßIINß
|} |rlc|¤at|cr aucut p||¤a|] uus|ress seç¤erts.
(A|| amouots |o |acs}
Mar-11 Va|-10
Fart|cu|ars ßota||
0porat|oos
0thors Iota| Reta||
0pe|at|crs
0t|e|s Icta|
ßEvENüE
E·te|ra| Sa|es 221,958.83 1,265.69 223,224.52 111,171.c2 710.97 111,915.59
Iota| ßovoouo 221,958.83 1,265.69 223,224.52 111,171.c2 710.97 111,915.59
ßE8üII8
Seç¤ert 0pe|at|rç Resu|ts 8,834.63 (173.19} 8,661.44 7,853.57 (91.57} 7,759.00
|rte|est E·perses (2,952.90} (2,513.28}
||cv|s|cr lc| Ia·at|cr (3,887.64} (1,c35.15}
FroI|t boIoro m|oor|ty |otorost 1,820.90 3,580.27
0IhEß INF0ßMAII0N
Seç¤ert /ssets 114,782.53 1,159.16 115,941.69 78,c22.12 1,0c3.50 79,c85.c2
Iota| Assots 115,941.69 79,c85.c2
Seç¤ert l|au|||t|es 65,007.66 844.44 65,852.10 50,770.19 79c.0c 51,5cc.25
Iota| I|ab|||t|os 65,852.10 51,5cc.25
Seç¤ert Dep|ec|at|cr 4,415.60 273.84 4,689.44 3,c18.58 188.51 3,807.09
Iota| ßoproc|at|oo 4,689.44 3,807.09
Seç¤ert Cap|ta| E·perc|tu|e 14,149.35 338.18 14,487.53 7,177.31 211.23 7,391.51
Iota| 6ap|ta| Expood|turo 14,487.53 7,391.51
||} I|e cc¤par] cpe|ates |r a s|rç|e çecç|ap||ca| erv||cr¤ert |.e. |r |rc|a.
28. ßI860NIINüINß 0FEßAII0N8:
I|e Bca|c cl D||ectc|s cl Catewa] Vu|t|c|arre| Reta|| (|rc|a} l|¤|tec (Catewa]}, a suus|c|a|] cl SSl |ac cec|cec tc c|sccrt|rue
cpe|at|cr |r Jarua|] 2009. SSl |as cc¤¤|ttec tc p|cv|ce t|e recessa|] |eve| cl suppc|t, tc erau|e Catewa] tc |e¤a|r |r e·|sterce
arc ccrt|rue as a çc|rç ccrce|r t||| suc| t|¤e as |t |ea||ses |ts assets arc sett|es |ts ||au|||t|es.
I|e tcta| assets arc ||au|||t|es cl Catewa] as at Va|c| 31, 2011 açç|eçatec 10.83 |acs (||ev|cus ]ea| 77.15 |acs} arc
1,19c.59 |acs (||ev|cus ]ea| 1,508.9c |acs} |espect|ve|].
I|e ret cas| l|cws att||uutau|e tc cpe|at|rç, |rvest|rç arc l|rarc|rç act|v|t|es cl Catewa] cu||rç t|e ]ea|, açç|eçatec (2.c1} |acs
(||ev|cus ]ea| (1c8.21} |acs}, ||| (||ev|cus ]ea| (211.30} |acs} arc (10.09} |acs (||ev|cus ]ea| 3c7.99 |acs} |espect|ve|].
Shoppers Stop Ltd. lotes to Couso|idated Fiuaucia| Statemeuts
/rrua| Repc|t 2010-11 | 130
8tatomoot show|og tho rovoouo aod oxpoosos oI coot|ou|og aod d|scoot|ou|og oporat|oos: (A|| amouots |o |acs}
Fart|cu|ars
31 March 2011 31 Va|c| 2010
6oot|ou|og
oporat|oos
ß|scoot|ou|og
oporat|oos
(ßatoway}
Iota| Ccrt|ru|rç
cpe|at|crs
D|sccrt|ru|rç
cpe|at|crs
(Catewa]}
Icta|
ßEvENüE
Sa|es/|rcc¤e 223,221.52 ÷ 223,221.52 111,915.59 ÷ 111,915.59
0t|e| |rcc¤e 510.1c 1.11 511.30 925.01 2.10 927.11
Iota| ßovoouo 223,734.68 1.14 223,735.82 145,840.60 2.40 145,843.00
0pe|at|rç E·perses 215,019.08 55.29 215,071.37 138,0c5.91 18.09 138,081.00
|rte|est E·perse 2,952.81 0.09 2,952.90 2,513.17 0.11 2,513.28
FroI|t/(Ioss} boIoro tax 5,762.79 (54.25} 5,708.54 5,231.52 (15.80} 5,215.72
|rcc¤e ta· 3,887.c1 -÷ 3,887.c1 1,c35.15 ÷ 1,c35.15
FroI|t/(Ioss} aItor tax 1,875.15 (54.25} 1,820.90 3,596.07 (15.80} 3,580.27
29. E80F 0üI8IANßINß
Fart|cu|ars Mar-11 Va|-10
0per|rç Ba|arce 20.14 31.82
less. I|arsle| tc secu||t|es p|e¤|u¤ cr e·e|c|se cl cpt|crs (13.09} (8.25}
less. 0pt|crs |apsec cu||rç t|e ]ea| (1.95} (3.13}
C|cs|rç Ba|arce 5.10 20.11
30. EAßNINß FEß 8hAßE (EF8} I8 6AI6üIAIEß A8 F0II0W8:
(/|sc see |cte 31}
Fart|cu|ars Mar-11 Va|-10
(a} ||cl|t/(lcss} att||uutau|e tc ecu|t] s|a|e |c|ce|s ( |r |acs} 4,319.57 3,588.01
(u} We|ç|tec |u¤ue| cl ecu|t] s|a|es cutstarc|rç cu||rç t|e ]ea| 78,998,136 75,939,c39
(c} We|ç|tec |u¤ue| cl ecu|t] s|a|es cutstarc|rç cu||rç t|e ]ea|
alte| acjust¤ert lc| c||ut|cr 79,817,199 7c,8cc,800
(c} |c¤|ra| va|ue pe| s|a|e (} 5 5
(e} E|S.
÷ Bas|c (} 5.47 1.72
÷ D||utec (} 5.41 1.c7
31. I|e Bca|c cl D||ectc|s arc s|a|e|c|ce|s cl t|e Cc¤par] at t|e|| ¤eet|rçs |e|c cr 0ctcue| 29, 2010 arc Dece¤ue| 23, 2010
|espect|ve|] app|cvec suu c|v|s|cr cl ecu|t] s|a|e cl 10/- eac| |rtc twc ecu|t] s|a|es cl 5/- eac|. I|e Cc¤par] l|·ec Jarua|] 13,
2011 as t|e Recc|c Date, lc| t|e sa|c suu c|v|s|cr arc as cr cate, t|e ecu|t] s|a|es cl t|e cc¤par] we|e suu c|v|cec. /ccc|c|rç|],
t|e uas|c arc c||utec E|S lc| t|e cu||ert arc p||c| ]ea| |ave ueer cc¤putec cr t|e uas|s cl t|e sa|c suu-c|v|s|cr.
32. Du||rç t|e ]ea|, t|e Cc¤par] |as s|¤u|tarecus|] a||cttec 20,00,000 ecu|t] s|a|es tc 0ua||l|ec |rst|tut|cra| Bu]e|s (0|Bs} arc
10,00,000 ecu|t] s|a|es tc ||c¤cte|s pu|suart tc t|e ccrve|s|cr cl cpt|cra||] ccrve|t|u|e wa||arts lc| ar açç|eçate |ssue p||ce cl
12,980 |acs arc 12,287.20 |acs ( 3,071.80 |acs |ece|vec |r 2010 ue|rç 25º cl tcta| p||ce} |espect|ve|]. I|e p|e¤|u¤ |ece|vec
açç|eçatec 21,cc7.20 |acs.
Shoppers Stop Ltd. lotes to Couso|idated Fiuaucia| Statemeuts
/rrua| Repc|t 2010-11 | 131
lotes to Couso|idated Fiuaucia| Statemeuts
(A|| amouots |o |acs, uo|oss othorw|so statod}
33. I|e Ccrsc||catec ||rarc|a| State¤erts |ave ueer p|epa|ec |r accc|carce w|t| /cccurt|rç Starca|c 21 (/S 21} ÷ ''Ccrsc||catec
||rarc|a| State¤erts'', arc /cccurt|rç Starca|c 27 (/S 27} ÷ ''||rarc|a| Repc|t|rç cl |rte|ests |r Jc|rt Vertu|es'' as rct|l|ec u]
Cc¤par|es (/cccurt|rç Starca|cs} Ru|es, 200c.
(a} I|e suus|c|a||es (w||c| a|crçw|t| S|cppe|s Stcp l|¤|tec, t|e pa|ert, ccrst|tute t|e C|cup} ccrs|ce|ec |r t|e p|epa|at|cr cl
t|ese Ccrsc||catec ||rarc|a| State¤erts a|e.
Namo 6ouotry oI
Iocorporat|oo
Forcootago oI owoorsh|p
|otorost o|thor d|roct|y or through subs|d|ary
31 March 2011 31 March 2010
|]pe|c|t] Reta|| (|rc|a} l|¤|tec' |rc|a 51 19
C|csswc|c Bcc| Stc|es l|¤|tec |rc|a 100 100
upasra I|ac|rç l|¤|tec |rc|a 100 100
S|cppe|s Stcp Se|v|ces (|rc|a} l|¤|tec |rc|a 100 100
S|cppe|s Stcp.Cc¤ (|rc|a} l|¤|tec |rc|a 100 100
Catewa] Vu|t|c|arre| Reta|| (|rc|a} l|¤|tec |rc|a 51(|r acc|t|cr |]pe|c|t]
|c|cs 19º}
51
' |]pe|c|t] ueca¤e a suus|c|a|] w.e.l. Jure 30, 2010.
(u} |rte|ests |r Jc|rt Vertu|es.
I|e C|cup's |rte|ests |r jc|rt|] ccrt|c||ec ert|t|es (|rcc|pc|atec Jc|rt Vertu|es} a|e.
Namo 6ouotry oI
Iocorporat|oo
Forcootago oI owoorsh|p
|otorost o|thor d|roct|y or through subs|d|ary
31 March 2011 31 March 2010
|uarce C|cup (|rc|a} |||vate l|¤|tec |rc|a 50 50
I|¤etcre Erte|ta|r¤ert |||vate l|¤|tec |rc|a 1c.89 15
I|e l|rarc|a| state¤erts cl t|e jc|rt vertu|es, ccrs|ce|ec |r t|e ccrsc||catec acccurts, a|e c|awr uptc 31st Va|c| ct|e| t|ar
lc| |uarce C|cup (|rc|a} |||vate l|¤|tec w|e|e |t |s uptc 31st Dece¤ue|.
I|e C|cup's |rte|est |r t|ese jc|rt vertu|es |s acccurtec lc| us|rç p|cpc|t|crate ccrsc||cat|cr.
(c} I|ese Ccrsc||catec ||rarc|a| State¤erts a|e uasec, |r sc la| as t|e] |e|ate tc a¤curts |rc|ucec |r |espect cl suus|c|a||es arc
jc|rt vertu|es cr t|e auc|tec l|rarc|a| state¤erts p|epa|ec lc| ccrsc||cat|cr |r accc|carce w|t| t|e |ecu||e¤erts, cl /S 21 arc
/S 27 u] eac| cl t|e |rc|ucec ert|t|es.
(c} Ccccw||| cr ccrsc||cat|cr |rc|uces çcccw||| cl 8799.19 lacs cr accu|s|t|cr cl |]pe|c|t]. I|e pcst-accu|s|t|cr |csses cl
|]pe|c|t] (uelc|e ¤|rc||t] s|a|e cl |css cl 2185.c1 lacs} a¤curtec tc 5072.80 lacs arc |ave ueer ccrs|ce|ec |r t|e
ccrsc||catec |esu|ts lc| t|e ]ea|. /|sc |ele| |cte 31a ue|cw.
34a. I|e ceta||s cl t|e suus|c|a|] cc¤par|es a|e ç|ver |r t|e /rre·u|e.
34b. ||çu|es cl t|e p|ev|cus ]ea| a|e |eç|cupec, w|e|e recessa|], tc ccrlc|¤ tc t|cse cl t|e cu||ert ]ea|.
Shoppers Stop Ltd.
/rrua| Repc|t 2010-11 | 132
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Shoppers Stop Ltd. lotes to Couso|idated Fiuaucia| Statemeuts
/rrua| Repc|t 2010-11 | 133
Shoppers Stop Ltd. lotes
/rrua| Repc|t 2010-11 | 131
Shoppers Stop Ltd. lotes
/rrua| Repc|t 2010-11 | 135
Shoppers Stop Ltd. lotes
/rrua| Repc|t 2010-11 | 13c
doc_121253294.pdf