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Future Retail Ltd.

BSE: 540064 | NSE: FRETAIL |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE752P01024 | SECTOR: Retail

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Annual Report

For Year :
2019 2018 2017 2016

Chairman's Speech

Dear Stake holders.

We are pleased to share with you the annual report for the financial year 201S-19. For this financial year ended March 2019, your Company has posted income from operations of Rs. 20,165 crores and net profit of Rs. 733 crores, resulting in an earnings per share (EPS) of f 14.55. Ely the end of the financial year, the Company operated 1.511 stores and attracted 351 million customer visits.

A large part of this annual report will provide you with much more detail on the financial performance of our business and the governance structures we have in place. In addition, in this annual report we show how we are combining proximity retailing with big box retailing to make your Company the first and only choice for every citizen''s shopping needs.

Through better technology and data platforms, we are now focusing on every customers’ individual needs and aspirations. 8y collating individual customers'' choices, habits and preferences, we are creating better small stores in their own neighbourhoods, easy day in North India and Heritage Fresh in Southern India is expanding at a rapid pace in large cities and small towns. These small stores combine with the large-store formats like Big Bazaar, tbb and Foodhall to capture the consumption needs of a city across almost every income group.

We are working on optimising this network tor every city and town through better understanding of consumption patterns, social trends and community preferences. With our presence in 428 cities and towns, we are now set to replicate this approach at national level.

With 292 large format stores in almost every state of the country. Big Bazaar is the country''s prominent national retailer The brand is counted among the most trusted brands in the services sector. This year Inter hr and India ranked Big Bazaar among the top 40 most valuable brands in the country. The business has matured very well and is well poised to create consistent value for our customers and every stakeholder.

While we will continue to make Big Bazaar bigger and better as a preferred destination for monthly shopping needs of customers, we are focusing a lot on building the small store network that caters to small but more frequent purchases.

The small store network is built on a robust technology platform that makes it more convenient for customers and more scalable for the organisation. During this year, we introduced the easyday Club mobile app for ordering products, scheduling home deliveries and store pick-ups. along with many other features for our member customers. This has been introduced in over 140 stores in Delhi NCR and has resulted in significant increase in spends and frequency of our member customers. During the forthcoming year, we will be extending it in a phased manner across different cities.

Among our member customers at easyday, there is a large segment of customers who are now shopping more than 50 times in a year. This is spend and frequency the Company couldn’t have ca pin red through the large store networks. While Big Bazaar captures monthly shopping cycles, small stores become extremely important in capturing the frequent, daily and weekly top ups. The mobile app and ecommerce portal, increase this frequency further.

We realise social messaging is the most comfortable user interface on smart phones for most of our member customers. A key technology goal we are aiming for introducing a conversation commerce platform within the easy day Club app, wherein customers can place orders, track deliveries, make payments - all through a message-based interface. We eventually hope to offer this feature in eight Indian languages.

In last year''s report we had shared extensive details on our mobile wallet, FuturePay. We ar a happy to share that now more than 10 million of our customers have downloaded the app and Using it regularly to shop and engage with our brands. During the forthcoming year, we will be rolling out a series of new features on the app, aimed at making shopping with FuturePay a more engaging and friction Iess experience. FuturePay has also been fully integrated with the Company’s ecommerce platform, and easyday Club mobile app.

Retailing business is spread across the three stages - customer acquisition, discovery and fulfillment. With a membership driven model in small stores and Big Bazaar’s presence in prime locations in urban centers, our customer acquisition cost is minimal and in many cases revenue accretive. Our digital and physical platforms provide the most engaging experience toe discovery of brands, products and categories that spur consumption. And being closest to customer, our fulfilment cost or cost of delivering to customers'' homes from within a two-kilometer radius of the store is the lowest amongst any modern retail or ecommerce model

By integrating big box retailing with proximity retail, we believe we have a model that is well placed to capture consumption and also operate at the lowest possible cost- Our decades of experience and expertise gives us the strength to execute this with both speed and diligence. Technology ant: data sciences will continue to play the most critical role in making this happen in the most time and resource efficient manner At the same time, the human touch and imagination to create new and exciting experiences for customers will continue to play a major role in winning the hearts and minds of our customers.

Inclusion is among the fundamental features around which our retail brands and experiences are built. In this report, we also share with you how the Big Bazaar team put in a huge effort in learning about and empathising with customers with physical challenges. We are proud to state that now more than f40 Big Bazaar stores are a lot more accessible for customers who may be physically challenged or visual or hearing impaired. Many such people, including those with autism or Down''s Syndrome are also now our colleagues working shoulder-to-shoulder al our stores and offices.

At our heart, we are a learning organisation, always eager to introspect, adapt and win in the marketplace. We are always keen to find opportunities to pursue new ideas and write new success stories. We thank all our stakeholders for being pa it of this journey of co-creating the new.

Rewrite Rules, Retain Values.

Kishore Biyani