TCNS Clothing Co. Limited has informed the Exchange about Investor Presentation
Corporate Relations Department BSE Limited 1st Floor, New Trading Ring Rotunda Building, P J Tower Dalal Street, Fort, Mumbai 400 001.
Date: 12.08.2022
Corporate Listing Department National Stock Exchange of India Ltd Exchange Plaza, 5th Floor Plot No. C-1, G Block Bandra-Kurla Complex Bandra (East), Mumbai 400 051.
Dear Sir/Madam,
Sub: Investor presentation for Q1 ended 30th June 2022.
Ref: Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Scrip Code: BSE Code: 541700, NSE Code: TCNSBRANDS
With reference to the above captioned subject, please find herewith, enclosed Investor Presentation for Q1 ended 30th June 2022. The aforesaid Investor Presentation is also being disseminated on Company's website at https://wforwoman.com/content/investor-relation.
This is for your information and records.
Thanking you. For and on behalf of TCNS Clothing Co. Limited
Piyush Asija Company Secretary and Compliance Officer M. No: A21328
Date: 12.08.2022 Place: New Delhi
TCNS Clothing Co. Ltd
Q1 FY23 Results August, 2022
Safe Harbour
This presentation and the accompanying slides (the “Presentation”), which have been prepared by TCNS Clothing Co. Limited (the “Company”), have been prepared solely for
information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in
connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document
containing detailed information about the Company.
This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty,
express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This
Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this
Presentation is expressly excluded.
Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively
forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and
assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various
international markets, the performance of the industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future
levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its
exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results
expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking
statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third party statements
and projections.
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Contents
TCNS Overview
Business Update
Q1 FY23 Detailed Financials
TCNS Overview
TCNS - India’s Leading Women’s Branded Apparel Company
Portfolio of segment leading brands straddling across fashion sensibilities and value chain
Largest womenswear distribution network with ~4100 outlets and market leading omnichannel capabilities
Diversified supply chain network with 250+ supply chain partners
50+ in-house cutting-edge design team developing over 5000 styles every year
High ROIC, asset-light business model;
Strong cash reserves
5
TCNS houses distinct brands in women’s outerwear segment, each with a focused positioning to offer a comprehensive portfolio for Indian women consumer
Premium fusion wear
Premium occasion wear
Contemporary ethnicwear
The ultimate coordinates destination
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TCNS has widest womenswear reach with 4100+ points of sales, with strong owned omnichannel network and deep partnerships across all key offline and online retailers
Own Omnichannel Network 616 EBO Stores across India and International markets
•
LFS Partners – ~2400 doors
• Own brand websites offering complete selection and deeper engagement
Key Online Partners
MBO – ~1100 doors
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With 50+ in-house design team and 250+ suppliers pan-India, TCNS has a scalable, well- connected & diversified Design-to-Production network
50+
In-house design team focused on driving innovation and creating fashion trends
250+
Partners/ suppliers ranging from artisanal groups to large mills, enabling a highly differentiated product every single time
5000+
Product styles launched every year across Apparel, Footwear, Accessories & Cosmetics
Automated Inventory management system and nimble production and reordering cycle for reduced Concept-to-Shelf
Integrated warehousing facility powered by a strong WMS, upgraded infrastructure and specialized operations team
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Business Update
Sales recovery: Matched highest ever Q1 sales despite slower category recovery; Year on year sales grew to ~3X over Q1 FY22
Revenue from Operations – Rs Crs.
YoY Growth
QoQ Growth
1.2X
276
234
300
250
200
150
100
50
0
276
~3X
94
300
250
200
150
100
50
0
Q1 FY22
Q1 FY23
Q4 FY22
Q1 FY23
Q1 Highlights
• Offline:
gradual
recovery with
spikes around regional festivals ➢ Opened 17 stores on a net basis to reach a total store count of 616
➢ 6 Project Rise stores added –
tally now at 20
• Online: secondary sales continued
to grow in Q1 on a large base
➢ Brand websites
accelerated further to grow at ~35% over Q1 FY22
• MBO business continuing to build- up with strong Monsoon-Festive order book
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Emerging Market Outlook: Improving demand scenario combined with early launch of most comprehensive product range
External trends Demand scenario improving
Business Readiness Prepared for accelerated scale-up
Segmental recovery visible week-on-week
First comprehensive product range launch after a gap of 2 years
Pent up demand - Offices reopening; Onset of festivities sans restrictions
Platform ready for accelerated scale-up
Digital-first marketing campaign cutting across online and offline
All partners demonstrating confidence with expansion plans
Aggressive retail expansion underway
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Recap FY23 focus: accelerating growth along multiple dimensions
Focus areas
New Brand / Categories Scale each foray across channels and expand product assortment
Third-party Marketplaces Leveraging strategic marketing, scaling the omni-channel fulfilment model and launching online-first products
Brand Website Build deeper omnichannel offerings personalization capabilities
and
Store Upgradation Enhanced Retail presense across key markets to showcase full representation of all brand collections and product categories
Store Addition Expansion in existing markets and franchisee- led Project Bharat stores in tier 3+ markets
FY23 Target
100+ crore ARR for new forays
2X share of Omnichannel
25%+ of online revenue
25+ Project Rise stores
100+ store addition
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Key results: a number of wins against the Key Focus Areas in FY23
New Brand / Categories
Third-party Marketplaces
Brand Website
Store Upgradation
Store Addition
➢ Scaling-up initiatives
on
track
across
➢ Expanded range launches in the
Monsoon-Festive season
➢ D2C contributed majority of online sales ➢ Omni-channel share the total
expanded to double-digits of online sales
fulfilment
➢ Brand website scaled at ~35% over Q1 FY22; Contributing to over 20% share of the online business
➢ Upgraded 20 stores to Project Rise stores till date. Most stores achieving 1.5-2X sales
➢ 17 stores opened in Q1 on a net basis and
another 50+ locations are in pipeline
➢ On track to add 25+ stores in Q2 on a net basis
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Project RISE Stores launched with new retail identity of W
Linking Road, Mumbai
14
Himayath Nagar, Hyderabad
15
Phoenix Mall, Bengaluru
16
Lulu Mall, Trivandrum
17
Oberoi Mall, Mumbai
18
Seawoods, Mumbai
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Q1 FY 23 : Reported Ind-AS-116
Particulars (Rs Million)
Q1FY23
Q1FY22
Growth -YoY%
Revenue
EBITDA
PBT
PAT
2764
379
26
24
938
-204
-490
-361
195%
NA
NA
NA
% to Revenue
Q1FY23
Q1FY22
EBITDA
PBT
PAT
13.7%
-21.8%
0.9%
0.9%
-52.3%
-38.4%
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Q1 FY 23 : Brand-wise performance
Share of Brands (%)
6%
Q1FY23
40%
54%
W
Aurelia
Wishful
Q1FY22
40%
3%
W
Aurelia
Wishful
57%
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Q1 FY 23 : Channel-wise performance Channel Wise Revenue Split
Q1FY23
2%
12%
Q1FY22
42%
38%
30%
Pan India Multichannel Presence
~4000
599
~4100
616
44%
# of EBOs
W
Aurelia
Wishful
Elleven
Total
20%
2298
2422
LFS
EBO's Online & Others MBO
As of Jun’22
Net Q1 Openings
344
245
6
21
616
12
0
1
4
17
1098
Mar'22
1098
Jun'22
MBOs
LFS
EBOs
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Detailed Financials
Profit & Loss Statement
S.No. 1.
2.
3. 4. 5.
Particulars (In Rs. Million) Income (a) Revenue from operations (b) Other income Total income Expenses (a) Cost of materials consumed (b) Purchases of stock-in-trade (c) Changes in inventories of FG, WIP and stock-in-trade (d) Employee benefits expense (e) Finance costs (f) Depreciation and amortisation expense (g) Rent expenses (h) Selling and distribution expenses (i) Other expenses Total expenses Profit/(loss) before tax (2 - 4) Total tax expense Profit/(loss) for the period/year (5 - 7)
Q1FY23
Q1FY22
YoY
Q4FY22
QoQ
195% 123% 192%
156% 110% 234% 52% 21% 24% 114% 189% 100% 92%
2764 66 2830
1646 43 -834 471 97 257 68 738 318 2804 26 2 24
938 30 968
644 20 -249 311 80 206 32 256 159 1458 -490 -130 -361
2344 122 2466
1240 44 -554 408 108 287 0 646 363 2542 -76 -18 -58
18% -46% 15%
33% -3% 51% 16% -10% -11%
14% -12% 10%
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For further information, please contact
Company :
Investor Relations Advisors :
CIN: L99999DL1997PLC090978
CIN: U74140MH2010PTC204285
Mr. Amit Chand
Mr. Rahul Agarwal / Mr. Aakash Mehta rahul.agarwal@sgapl.net / aakash.s.m@sgapl.net +91 98214 38864 / +91 98706 79263
www.tcnsclothing.com
www.sgapl.net
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