 

Fiscal

 

 

 

 

 

 

 

 

 

 

 

 

2019 2020 2021
Particulars (million) | Percentage | (% million) [Percentage of | (% million) | Percentage of
of total total income total income
income
(Loss) / profit before tax 422.14 14.51% 682.86 17.21% (31.35) (1%
Tax expenses
Current tax 136.78 4.70% 204.65 5.16% 26.00 0.92%
Tax related to earlier years (2.79) (0.10)% (1.58) (0.04)% (1.01) (0.04)%
Deferred tax (21.26) (0.73)% (46.55) (1.17% (20.95) (0.74)%
Total tax expense 112.73 3.87% 156.52 3.94% 4.04 0.14%
(Loss) / profit after tax 309.41 10.63% 526.34 13.26% (35.39) (1.25)%

 

 

Other comprehensive income

 

Items that will not be reclassified to profit or loss

 

Remeasurements of the defined

 

 

 

 

 

, 9 7 ,
irenoht plane (gain) Fess (6.07) (0.17)% 2.83 0.07% (2.38) (0.08)%
Tncome tax relating to above 1.48 0.05% @7) (02% 0.60 02%
Total “other -compechensive (3.59) (0.12)% 2.12 0.05% (1.78) (0.06)%
income

Total comprebensive (oss) / 313.00 10.76% 524,22 13.21% (33.61) (1.19) %

 

 

 

 

 

 

income for the year

 

Key Developments

© Our operations in Fiscal 2021 were severely impacted by COVID-19 and consequent lockdowns and
restrictions imposed in India. Operations at our stores were suspended or restricted, which resulted in a
decrease in sale of our products, on account of government restrictions imposed during Fiscal 2021. For
further information, see “ — Significant Factors Affecting our Results of Operations and Financial
Condition — Impact of COVID-19” on page 307.

© Our operations in Fiscal 2021 were also impacted by related rationalization efforts undertaken by us in
order to improve operational efficiency. These included, renegotiating existing lease arrangements and
closing certain stores. As a result, we closed 41 EBOs in Fiscal 2021, compared to 18 EBOs closed in
Fiscal 2020. For further information, see “ — Significant Factors Affecting our Results of Operations and
Financial Condition — Impact of COVID-19” on page 307.

Income

Total income decreased by 28.87% from % 3,968.39 million in Fiscal 2020 to % 2,822.52 million in Fiscal 2021
primarily due to the impact of the COVID-19 crisis and the temporary closure of a number of our stores across
India due to lockdown related restrictions on our business operations commencing from end of Fiscal 2020, as
well as reduced store-level operations, including reduced operating hours in line with Gol guidelines, which
resulted in a significant decrease in customer footfalls at our stores given the lockdown, and significant decrease
in same-store sales up to the third quarter of Fiscal 2021.

Revenue from operations

Revenues from operations decreased by 36.06% from 2 3,920.14 million in Fiscal 2020 to = 2,506.68 million in
Fiscal 2021, primarily due to a decrease in retail sales and other operation revenue including scrap sale, on account
of the COVID-19 pandemic.

Sale of products

Sale of products decreased by 35.99% from 2 3,906.13 million in Fiscal 2020 to = 2,500.29 million in Fiscal 2021,

primarily driven by the impact of COVID-19 and the temporary closure of a number of our stores due to lockdown
related restrictions on our business operations.

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