• Quarterly performance: SS Retail reported revenue growth of 59%, PAT growth of 59% and EBITDA growth of 27.5%; the anchor noted a 140 bps year-on-year margin decline. Shah cited EBITDA margins of 5.5% last year and 5.75% this year, PAT margins rising from 2.5% to 3%, and a 61% rise in profits.
• Same-store sales: Same-store sales growth was around 34%, comprising 30% ASP growth—from ₹25,000 to ₹32,500—and 4% volume growth; overall volume growth was around 25-odd percent.
• Store expansion: Shah outlined 250 stores in the next 2 years, including 215-odd stores funded through IPO proceeds; 33 stores opened in quarter 1. More than ₹200 crore of the ₹360 crore capital raised was reserved for expansion, and the stated target is 750 stores by FY28.
• Regional growth: Maharashtra’s share of revenue fell from 92% to 88% in 1 year, while non-Maharashtra rose from 8% to 12%. Expansion will focus on Karnataka, Madhya Pradesh, Gujarat and Chhattisgarh.
• Growth and product mix: Shah expects SSG growth of 35% plus this year and 10% plus next year, alongside a target to double revenue over the FY26 base by FY28. Pre-owned devices’ revenue contribution rose from 5.8% to 7.5%, with growth of 96% quarter versus quarter.