• SSSG guidance: Full-year same-store sales growth is guided at 8–10%, supported by a festival-heavy Q3 that is expected to offset a weaker Q1 impacted by the Adhik Maas period.
• Pricing and margins: Raw material costs rose 7–8%, but price hikes will be limited to 4–5% due to a 3–4% sourcing cost benefit from scale, which should maintain gross margins with minimal volume impact.
• Store expansion funding: The target to open 180–200 stores requires about 500 crore, which will be funded via internal EBITDA generation, freeing up 200 crore from vendor bill discounting, and potentially raising debt to 350–400 crore.
• Store-level economics: Stores break even at monthly sales of 500 rupees per square foot against store-level costs of 140–145 rupees per square foot, providing a safety cushion compared to the blended sales rate of around 950 rupees per square foot.
• Long-term expansion: The company targets scaling to 2,500 stores across India and plans to reinvest all operational cash flows to sustain 50% growth, citing operational execution as the main risk.