Few pointers:
Mgmt strategy is to reduce offline ASPs (attract footfall + push sales volumes) and online ASPs to be higher: Slightly confused how this works as most others generally have it the other way around to get rid off stuck inventory etc.
Almost 80% of old inventory is out of system and rising payable days is reducing cash conv cycle
H1 FY24 sales > H1 FY23 sales in spite of delayed diwali + adhik mas included in FY24.
They have a slightly higher churn rate in terms of stores closures i feel, 12 last FY and 3 already current FY. Maybe the older ones are struggling due to competition. (They open new stores in Tier 3 under exposed cities)
Opened 57 stores prev FY, target of another 50 this FY. Could be interesting if they can sustain this pace, doubtful though.
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