Baazar Style Retail Allots ₹331.53 Crore Equity Warrants to Cupid Limited, Appoints KPMG as Internal Auditor

Baazar Style Retail Limited announced significant corporate developments following its Board meeting held on April 2, 2026. The company's Board of Directors approved the allotment of equity warrants worth ₹331.53 crore and appointed a new internal auditor for the upcoming financial year.

Equity Warrants Allotment Details

The Board approved the allotment of 1,01,00,000 equity warrants to Cupid Limited on a preferential basis. The warrants were issued at ₹328.25 per warrant, with a face value of ₹5 each, aggregating to a total value of ₹331.53 crore.

Parameter: Details Number of Warrants: 1,01,00,000 Issue Price: ₹328.25 per warrant Face Value: ₹5 per warrant Total Value: ₹331.53 crore Allottee: Cupid Limited Category: Non-Promoter Body Corporate

The preferential issue has been fully subscribed, with the company receiving 25% of the subscription amount, totaling ₹82.88 crore, from Cupid Limited. Each equity warrant is convertible into one equity share within 18 months from the allotment date, in accordance with SEBI ICDR Regulations.

Internal Auditor Appointment

The Board also approved the appointment of KPMG Assurance and Consulting Services LLP as the company's internal auditor for the financial year 2026-27. KPMG is a reputable professional services firm and part of the global KPMG network, recognized as one of the Big Four accounting organizations.

Appointment Details: Information Firm Name: KPMG Assurance and Consulting Services LLP Appointment Period: Financial Year 2026-27 Approval Date: April 2, 2026 Specialization: Internal audit, risk advisory, consulting services

KPMG specializes in internal audit services, risk advisory, and consulting, leveraging advanced digital tools and industry expertise. The firm provides comprehensive services including internal audit co-sourcing and outsourcing, governance and compliance reviews, and specialized IT audits.

Regulatory Compliance

The allotment was conducted in accordance with Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, and the provisions of the Companies Act, 2013. The company has fulfilled all disclosure requirements under Regulation 30 of the SEBI Listing Regulations.

The Board meeting commenced at 4:00 PM and concluded at 4:15 PM on April 2, 2026. All decisions were approved in compliance with regulatory requirements, with proper documentation and disclosures submitted to the stock exchanges.

Baazar style retail Limited has delivered exceptional financial performance for FY26, achieving its highest-ever standalone revenue from operations while beating management guidance. The Kolkata-based value fashion retailer reported robust growth across key metrics, demonstrating the strength of its business model and sustained customer confidence in the Eastern India market.

Record Financial Performance

The company's financial results for FY26 and Q4FY26 showcase strong momentum across all key performance indicators:

Metric: Q4FY26 Q4FY25 YoY Growth FY26 FY25 YoY Growth Revenue from Operations (Rs Mn): 4,662 3,453 35% 18,421 13,435 37% Sales Per Square Feet (Rs/Month): 698 679 3% 731 721 1% Total Stores: 263 214 23% 263 214 23% Total Rental Area (Lakh Sq Ft): 24.53 19.21 28% 24.53 19.21 28%

The company's standalone revenue from operations reached Rs 18,421 Mn in FY26, exceeding management guidance and marking a significant 37% year-on-year increase from Rs 13,435 Mn in FY25. This performance represents the highest revenue achievement in the company's history.

Quarterly Performance and Store Productivity

Q4FY26 demonstrated continued strength with revenue from operations jumping to Rs 4,662 Mn, reflecting 35% year-on-year growth. The quarter showed improved operational efficiency with sales per square feet reaching Rs 698 per month compared to Rs 679 in the corresponding quarter of the previous year.

Same-store sales growth (SSSG) performance remained robust, with FY26 recording 3% growth and Q4FY26 achieving 8% growth. This metric indicates strong performance from existing stores and effective customer retention strategies.

Store Expansion and Network Growth

Baazar Style Retail significantly expanded its retail footprint during FY26, demonstrating aggressive growth strategy execution:

Expansion Metrics: Details Total Stores (March 31, 2026): 263 stores New Stores Added (FY26): 56 stores Stores Closed (FY26): 7 stores Q4FY26 Store Additions: 11 stores Total Rental Area: 24.53 lakh square feet

The company operated 263 stores as of March 31, 2026, compared to 214 stores in the previous year, representing a 23% increase in store count. During Q4FY26 alone, the company opened 11 new stores without closing any existing locations.

Operational Efficiency Metrics

The company maintained strong operational efficiency with sales per square feet of Rs 731 per month for FY26, showing marginal improvement from Rs 721 in FY25. The total rental area expanded to 24.53 lakh square feet, representing 28% growth year-on-year, supporting the company's expansion strategy while maintaining productivity levels.

Baazar Style Retail Limited, established in 2013, positions itself as a leading value fashion retailer in Eastern India, focusing on family-oriented shopping experiences and affordable stylish merchandise. The company's consistent growth trajectory and expansion strategy reflect its strong market position in the regional retail landscape.

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