VAIBHAVGBLNSE28 October 2022

Vaibhav Global Limited has informed the Exchange about Investor Presentation

Vaibhav Global Limited

VAIBHAV GLOBAL LIMITED

Ref: VGL/CS/2022/122

Date: 28th October, 2022

National Stock Exchange of India Limited (NSE) Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra, Mumbai – 400 051 Symbol: VAIBHAVGBL

Subject: Financial Results Presentation

Dear Sir / Madam,

BSE Limited Phiroze JeejeeBhoy Towers, Dalal Street, Mumbai – 400 001 Scrip Code: 532156

Pursuant to regulation 30(6) of the SEBI (LODR) Regulations, 2015 please find enclosed Financial Results Presentation of Q2 FY 2023.

Kindly take the same on record.

Thanking you,

Yours Truly,

For Vaibhav Global Limited

Sushil Sharma Company Secretary

E-69, EPIP, Sitapura, Jaipur-302022, Rajasthan, India • Phone: 91-141-2770648, Fax: 91-141-2770510

Regd. Office: K-6B, Fateh Tiba, Adarsh Nagar, Jaipur – 302004, Rajasthan, India • Phone: 91-141-2601020, Fax: 91-141-2605077

CIN: L36911RJ1989PLC004945 • Email: investor_relations@vaibhavglobal.com • Website: www.vaibhavglobal.com

Vaibhav Global Limited

Global E-tailer of Fashion Jewellery, Apparels, Lifestyle Products and Accessories on TV and Digital Platforms

DELIVERING JOY

Q2 FY23

Financial Results Presentation

Commenting on Q2 FY23 Performance

MD’s Message

Sales for the quarter were Rs. 646 crores, up 1.8% from Rs. 635 crores in the second quarter of last year. Vs a pre-covid period of Q2 FY20 the growth is 33%. This performance is in backdrop of current high inflationary environment in western economies.

In Q2 our gross margins continue to remain healthy at 60.9%. EBITDA for the quarter has been at 8.1% compared to 7% of last quarter and 11.5% of Q2 FY’22. Our judicious investment in Germany, new OTA homes, and digital marketing have a short term impact on EBITDA. But these investments are building blocks which will result in significant operating leverage in the medium and long term. Inspite of these investments, our margins have started seeing a sequential improvement and expected to continue to improve in H2.

During the quarter, our Germany business has grown exponentially, clocking monthly revenue of more than Euro 1 million. In Germany, we recently started Live and Interactive shopping on our website and is seeing good customer traction. At Shop TJC (UK), the freeview channel upgradation continues to give positive outcomes in terms of ‘new TV customer acquisition’. New TV customer acquisition rate was negative 17% in Feb ‘22, and is positive 49% in Sept ‘22. Overall performance in UK is positive, except momentary impact of Queen’s demise and political changes. In US, macro- economic environment continues to impact the customer sentiments. Current YoY revenue growth is not a true reflection of the potential US and UK market, but we continue to gain market share.

A fully integrated supply chain spanning across 30 countries is our moat. We manufacture majority of our jewellery products allowing bulk sourcing and better price negotiations. Besides cost, our vertical model also helps reduced delivery time and offers us great story telling opportunities.

Further, our four R’s framework, widening Reach, new customer Registration, customer Retention and Repeat purchases, remains to be our key levers for growth. The reach of our TV networks by end of Q2 FY23 was approximately 135 million TV homes, which is 23% higher YoY. We reach TV homes through cable, satellite, telco networks, and over-the-air antenna (also called OTA) platforms. Our products are also available on digital channels, including proprietary websites, smartphone apps, OTT platforms, and marketplaces. Our sustained investments on OTAs and digital channels is leading to increased new customer acquisition. Our unique customer base is at half a million. New customer acquisition on TTM basis stands at 2.5 lakhs, which is higher by 9.8% YoY and significantly higher by 16.3% over Q2 FY21.

On the sustainability aspects, we are glad to announce that 2 of our office buildings in US have received LEEDS ‘GOLD’ certificate. Another important aspect of sustainability efforts is our midday meal program, ‘Your Purchase Feeds....’. Recently, we crossed a milestone of 69 million meals with a run rate of approx. 51,000 meals donated every single school day.

Mr. Sunil Agrawal Managing Director Vaibhav Global Limited

Amidst current broader economic challenges, we have seen a visible sequential improvement during last few months with revenue trends improving month-over-month and believe that this transient phase will be behind us soon. Considering current macro environment, we expect to deliver 2-4% topline growth with 8-9% EBITDA margin this financial year. Our mid-term outlook remains intact and we expect to deliver mid-teens revenue growth in subsequent years with operating leverage.

The Board of Directors of your Company have declared an interim dividend Rs. 1.50 per share for the quarter. We look forward to maintaining a balance between growth, investment and quarterly payouts to generate sustainable value for our stakeholder.

Q2 FY23 : KEY HIGHLIGHTS

YoY revenue growth of 1.8%. Grew strongly at 33% vs pre-COVID Q2 FY20. MoM positive trend continues.

Gross margins maintained above 60%, YoY lower due to product mix & slightly lower price pass on

EBITDA improved sequentially. YoY reflects impact of lower GM, increased content cost, partly offset by cost saving initiatives.

Ever increasing unique customer base at 4,99,401 customers (5.1% and 11.7% higher than Sep-21 and Sep-20 respectively)

Sustained focus on Digital Platforms & Automation

Market leading growth amidst macro headwinds

Second interim dividend of Rs. 1.50 per equity share (YTD interim dividend of Rs. 3.00 per equity share)

Shop LC (US) conferred with ‘LEED’s GOLD Certification’

69 million meals since inception of our mid-day meal program ‘Your Purchase Feeds…’

Results Presentation, Oct 2022

TABLE OF CONTENTS

DELIVERING JOY

Business Background Details

Highlights for the Quarter

Q2 & H1 FY23 Financial Performance

Financial Performance Trends

Annexures

BUSINESS BACKGROUND DETAILS

GUIDING PILLARS THAT DEFINES VGL

OUR VISION

Be the Value Leader in Electronic Retailing of

Jewellery & Lifestyle Products

OUR MISSION

To deliver one million meals per day to children in need by ‘FY31’ through our one for one meal program ‘Your Purchase Feeds…’

Team Work

Positive Attitude

Honesty

Our Core Values

Passion

Commitment

Results Presentation, Oct 2022

CORPORATE OVERVIEW

Vertically- integrated fashion on retail platforms

retailer electronic

> End-to-end B2C business model > Presence on

- Proprietary TV home-shopping & OTAs - Proprietary e-commerce platforms - Social - Third-party Marketplaces

Shop LC (US), Shop TJC (UK) LC Shop and are (Germany) brands with strong customer visibility

> TV Homes accessed (*FTE): ~ 135 mn > Growing online presence > Improving customer engagement metrics

Strong management and governance

> Professional management team > Strong and Independent Board > B S R & Co. LLP – Global Auditor > Deloitte – Internal Auditor

one

one Exceptional for social program – ‘Your Purchase Feeds…’

> Every piece sold results in one meal for a

school-going child

> Provided 69 mn meals across India, US,

UK and Germany

Solid infrastructure backbone

> Continued investment in building digital

capabilities

> Scalable model with limited capex

requirement

Robust customer engagement

> Omni-channel B2C retail presence > Growing recognition of deep value fashion jewellery enables scaling to adjacent categories

*FTE: Full Time Equivalent

Results Presentation, Oct 2022

TRULY GLOBAL

Germany

China

India

Retail Markets

Sourcing Countries

Manufacturing Countries

Retail Markets

Shop LC | Shop TJC | Shop LC (Germany) (UK)

(US)

Operate Through Marketplaces

Canada

Sourcing

▪ India ▪ China ▪ Thailand ▪ Indonesia ▪ Tanzania ▪ Russia ▪ Morocco ▪ Myanmar ▪ Madagascar ▪ Bolivia ▪ Kenya ▪ South Korea ▪ Vietnam ▪ Brazil ▪ Sri Lanka

▪ UK ▪ Mozambique ▪ Germany ▪ Italy ▪ Turkey ▪ Poland ▪ Singapore ▪ UAE ▪ Japan ▪ Bangladesh ▪ Philippines ▪ Czech Republic ▪ Taiwan ▪ Australia ▪ US

Manufacturing Countries

India | China

Results Presentation, Oct 2022

COMPLETING 25 YEARS OF PUBLIC LISTING

Growing Consistently

Parameters (Rs. in crores)

Revenue

EBITDA

Profit Before Tax

Profit After Tax

Net Worth

FY 97

FY 22

CAGR (25 years)

Return (x times)

32.8

4.2

4.1

3.6

17.7

2,752.4

303.2

242.3

237.1

1,126.8

19.4%

18.7%

17.7%

18.2%

18.1%

26.1% CAGR in Market Capitalization since IPO (331 times*), excluding dividend

*as on 31st March 2022

Results Presentation, Oct 2022

KEY PILLARS

Results Presentation, Oct 2022

KEY PILLARS

An Efficient Interplay of

Wider Product Bouquet

Vertically Integrated Supply Chain

Omni-Channel Presence

(Proprietary TV, OTA’s, OTT, Marketplaces & Social Media)

In-House Brand Strength

Higher Consumer & Wallet Share

Industry Leading Highest Gross Margin

Continuous Consumer Engagement

Strong Balance Sheet

Value Creation for Stakeholders

Results Presentation, Oct 2022

2 POOLS OF PRODUCT VERTICALS

Huge Opportunity: Immediate Addressable Market of ~USD 20 bn

Fashion Jewellery, Gemstones & Accessories

Life-Style, Home Décor, Beauty Care, Apparels & Accessories

Results Presentation, Oct 2022

VERTICALLY INTEGRATED SUPPLY CHAIN

ASIAN BASE

Serving

WESTERN COUNTRIES

➢ Vertically integrated supply-chain in Asia ➢ Low-cost manufacturing and value sourcing base ➢ Serving affluent but value-conscious customers in

Western Developed Markets

Primary Retail Markets

China

Thailand

Bali

Hong Kong

India

USA

Germany

R e s u l t i n g i n I n d u s t r y L e a d i n g H i g h e s t G r o s s M a r g i n s

Results Presentation, Oct 2022

OMNI-CHANNEL SALES PLATFORM

TV Proprietary TV channels and OTAs

GERMANY

Proprietary Digital Platform

DIGITAL

Mobile Applications

www.shoplc.com www.tjc.co.uk www.shoplc.de

HH: 81mn OTA: 17mn

27mn 18mn

27mn* 2.5mn

* Including 2mn HH in Austria

Third Party Marketplaces

Social Retail

Google Marketplace

Note: OTA – Over the Air; HH - Households

Note: OTT – Over the Top

Results Presentation, Oct 2022

OTT Platforms

STRENGTHENING PRIVATE LABEL BRANDS

➢ Our Strength:

• Leveraging manufacturing & digital capabilities • Number of PL brands: 31 • Revenue Mix: ~25% of global B2C revenue • Margin accretive • Brand Laddering (value and mass-premium)

➢ Long-Term Objectives:

• Focus on ‘IPR’ rights for brand loyalty • Future revenue mix: ~35% of global B2C revenue • New brand launches regularly •

Inorganic opportunities (example: Rachel Galley)

USA

Germany

Results Presentation, Oct 2022

4R’S OF CUSTOMER ENGAGEMENT

TV: Linear | OTA

Digital: Browsers | Mobile Apps | Market-places | OTT| Social Media

Diverse Products

Enduring relationships

Deep value proposition

Convenience

Engrossing Content

Digitalization/AI

Expanding wallet share

Cross-selling

Reach (HH)

Registrations

Retention

Repeat Purchases

135mn

3.2 lakh (TTM)

40% (TTM)

25* (TTM)

Note: TTM: Trailing Twelve Months | *pieces per customer | HH: Households

All data points are for US and UK except for HH and Registration which includes figures of Germany as well

Results Presentation, Oct 2022

CONSISTENT DELIVERY

Strong Execution Focussed Consistent

Global Households Reach (in million)

Repeat Purchases (no. of pieces)

Retention (20+ Purchases)

124

135

104

89%

87%

FY20

FY21

FY22

Sep-22

FY20

FY21

FY22

Sep-22

FY20

FY21

FY22

Sep-22

Reach

Repeat Purchases

Retention Rate for 20+ Purchases**

* Repeat Purchases and Retention data comprises Shop LC (US) and Shop TJC (UK) ** Refers to retention rate of customers who have bought more than 20 times on TTM basis

Results Presentation, Oct 2022

‘DELIVERING JOY’ THROUGH INNOVATION

INNOV8 FUNNEL

Ideas Received

Ideas Approved by Buyers

Ideas Proposed to Buyers

Orders Placed

• •

An initiative to foster entrepreneurship within the organization Recently, 5 business ideas have been shortlisted for incubation

Products sold at channels

• A launchpad for outside innovators and product owners • 1,200+ ideas received from participants across 38 countries • 11 shortlisted and 4 already went live on channels in US and UK

Innovation Segment:

FY22 Revenue: $17mn (~5% of group revenue) FY21 Revenue: $3.5mn (~1% of group revenue)

Results Presentation, Oct 2022

CONSTANTLY REIMAGINING GROWTH WITH NEW DESIGNS & PRODUCTS

Jewellery Design

Gemstones

➢ Deals in 250+ gemstones including rare gemstones

➢ Widest possible global sourcing

➢ New gemstones contributing 3%-4% of group’s annual

turnover

➢ Strengths:

▪ In-house Testing Lab & Manufacturing ▪ Employees trained at globally benchmarked institutes

Few examples of highest selling new gemstones in FY22:

➢ Strong team of professional designers

➢ ~24,000 new designs proposed annually

➢ ~60% acceptance rate of new designs

Few examples of highly successful designs:

Hanabi Cut Ring

Rhapsody Platinum Tanzanite Ring

Turkizite ™ Sales: $ 7.03 Mn

Teal Grandidierite Sales: $ 1.20 Mn

Rubellite Sales: $ 1.06 Mn

Ethiopian Emerald Sales: $ 860K

Results Presentation, Oct 2022

BROAD BASED E-TAILER

B2C Revenues by Format

B2C Revenues by Product Category

TV revenues

Digital revenues

22%

78%

37%

63%

37%

63%

FY17

FY22

H1 FY23

60.5% of digital revenues in H1 FY23 were from Mobile platform (mobile app + mobile web browser)

Jewellery

Non-jewellery revenues

11%

89%

30%

70%

27%

73%

FY17

FY22

H1 FY23

Jewellery revenues: Fashion jewellery, Gemstones and Accessories Non-jewellery revenues: Lifestyle products, Home Décor, Beauty Care, Hair Care and Accessories

B2C Revenues by Geography

Budget Pay penetration of B2C Revenues

Germany

Non-Budget Pay revenues

Budget Pay revenues

24%

76%

1% 31%

68%

5% 27%

68%

23%

77%

39%

61%

39%

61%

FY17

FY22

H1 FY23

FY17

FY22

H1 FY23

Breakup based on revenue in USD million

Budget Pay revenues refer to products offered on EMI basis

Results Presentation, Oct 2022

HIGHLIGHTS FOR THE QUARTER

Results Presentation, Oct 2022

RECENT TRENDS SHOWING VISIBLE IMPROVEMENT

Recent revenue trend improving month-over-month

H1-FY23 (YoY Revenue Growth)

7.7%

5.9%*

YoY revenue growth: Q1: (7.9%) Q2: 1.8%

-9.9%

-8.5%

-5.2%

-6.8%

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

* Queen’s death impacted the growth momentum temporarily during Sep-2022

Results Presentation, Oct 2022

UK: FREEVIEW CHANNEL UPGRADATION YIELDING POSITIVE OUTCOMES

TJC (UK) upgraded channel position to 22nd from erstwhile 50th position in Jan-22

Investment now yielding positive results in terms of new customer acquisition on TV

Expect market leading growth in the long run

100.0%

50.0%

0.0%

-50.0%

New TV Customer Acquisition (growth)

0.2%

7.8%

22.5% 23.9% 15.7% 17.3%

49.1%

-16.6%

-43.9%

January

February March

April May

June

July

August

September

Results Presentation, Oct 2022

UPDATE ON GERMANY

Germany venture increased TAM (immediate addressable market) by ~20%

➢ Now clocking monthly revenue of Euro 1mn+ at 60%+ gross margins ➢ Omni-channel presence (digital is now 31%) ➢ Covering 27mn HH, dispatching 3k pieces/day ➢ Started ‘Live & Interactive TV’ ➢ Positive Customer Orientation: CSAT 96+; NPS 60 ➢ German call center now operational in India (cost arbitrage)

To breakeven by H2 of FY24, being one year earlier than projected

Revenue and Customer Trend

) 0 0 0

o r u E n i ( e u n e v e R

4,000

3,000

2,000

1,000

50.00

40.00

30.00

20.00

10.00

) 0 0 0

n i ( s r e m o t s u c f o . o N

Q2 FY22

Q3 FY22

Q4 FY22

Q1 FY23

Q2 FY23

Net Revenue (Euro in '000)

Cumulative No. of customers (in '000)

s n o

i l l i

m n

H H

30.0

25.0

20.0

15.0

10.0

5.0

No. of HH (in miilions)

24.3

25.2

26.9

27.1

20.1

Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23

Results Presentation, Oct 2022

WIDENING DIGITAL PLATFORM: OTT & OTA

In US, OTT and OTA are projected to be the fastest growing video distribution medium

OTT

Live & Interactive Apps

80.0

60.0

40.0

20.0

Projected US residential video households 2020-2026 (million)

OTA

Total HH in US: 22mn

Shop LC 17mn HH

46.8

25.7

OTT Revenue

2020

2021

2022

2023

2024

2025

2026

Over-The-Air households

Over-The-Top households

Low Power: ~17mn HH High Power: ~4mn HH

As of June-2022 Source: Industry estimates

$2,000

$1,500

$1,000

$500

s d n a s u o h T

2020-21

2021-22

2022-23

HH: Households

Revenue Mix: ~20%-25% of TV revenue

Results Presentation, Oct 2022

Q2 & H1 FY23 FINANCIAL PERFORMANCE

FINANCIALS – Q2 & H1 FY23 PERFORMANCE

Revenue Breakdown – (Rs. crore)

Growth vs Q2 FY20 33.2%

Revenue

Growth vs H1 FY20 37.8%

1,317

(3.2%) 1,275

635

1.8% 646

Q2 FY22

Q2 FY23

H1 FY22

H1 FY23

Fashion Jewelry, Accessories & Lifestyle Products

Growth vs Q2 FY20 27.2%

Growth vs H1 FY20 33.6%

Growth vs Q2 FY20 57.4%

Growth vs H1 FY20 58.9%

TV Revenue

816

4.0%

784

Digital Revenue 468

3.2%

453

2.1%

397

389

3.1% 233

226

B2B Revenue

 21.7%

15.5% 38

Q2 FY22

Q2 FY23

H1 FY22

H1 FY23

Q2 FY22

Q2 FY23

H1 FY22

H1 FY23

Q2 FY22

Q2 FY23

H1 FY22

H1 FY23

Note: B2B has been a non-core and opportunistic business segment

Results Presentation, Oct 2022

FINANCIALS – Q2 & H1 FY22 PERFORMANCE

Revenue Breakdown – (Local Currency)

Shop LC (US)

Shop TJC (UK)

Growth vs Q2 FY20 14.5%

(USD million)

Growth vs H1 FY20 20.5%

Growth vs Q2 FY20 25.9%

(GBP million)

Growth vs H1FY20 30.0%

119.2

 9.7%

107.7

39.1

 8.0%

36.0

57.4

 6.4%

53.8

0.7%

18.5

18.3

Q2 FY22

Q2 FY23

H1 FY22

H1 FY23

Q2 FY22

Q2 FY23

H1 FY22

H1 FY23

Results Presentation, Oct 2022

RETAIL PERFORMANCE TRENDS – Q2 & H1 FY23

Volume and ASP

TV Sales

Sales Volume ('000s)

3,628

2,751

31.6

1,663

1,411

Average Selling Price US$

35.3

30.5

36.3

Q2 FY22

Q2 FY23

H1 FY22

H1 FY23

Q2 FY22

Q2 FY23

H1 FY22

H1 FY23

Digital Sales

Sales Volume ('000s)

2,675

2,268

Average Selling Price US$

23.6

26.6

23.7

25.5

1,292

1,099

Q2 FY22

Q2 FY23

H1 FY22

H1 FY23

Q2 FY22

Q2 FY23

H1 FY22

H1 FY23

Results Presentation, Oct 2022

FINANCIALS – Q2 & H1 FY23 PERFORMANCE

Profits – (Rs. crore)

Gross Profit Gross Margin (%)

63.9%

60.9%

64.5%

850

61.5%

 7.8%

783

406

 3.0%

394

EBITDA EBITDA Margin (%)

11.5%

8.1%

13.0%

7.5%

 28.3% 52

171

 43.6% 96

Q2 FY22

Q2 FY23

H1 FY22

H1 FY23

Q2 FY22

Q2 FY23

H1 FY22

H1 FY23

**PAT

PAT Margin (%)

6.6%

3.6%

10.7%*

3.3%

EPS (Rs.) – Post split

8.65

 45.2%

* 141

 69.7%

2.57

1.40

2.59

Q2 FY22

Q2 FY23

H1 FY22

H1 FY23

Q2 FY22

Q2 FY23

H1 FY22

H1 FY23

*Note: H1 FY22: PAT of H1 FY22 includes exceptional gain of Rs. 32.90 crores wrt waiver of PPP loan (net of expenses). Adjusted PAT for H1 FY22 would be 108 crores , i.e., 8.2% of revenue

Results Presentation, Oct 2022

EBITDA MARGIN WALK

Particulars

EBITDA Q2 FY22

Gross Margin

% To

Revenue Remarks

11.5%

(3.0%) Product mix and deferred price transition

Germany

0.2% Losses narrowing down

Accelerated Investment in Digital & Broadcasting

(3.2%)

Conscious investments for future potential and scale

Others (cost saving)

EBITDA Q2 FY23

2.6% Benefit of cost optimization drive

8.1%

Results Presentation, Oct 2022

COST OPTIMISATION

Cost Arbitrage: Call Centre

• Presently ~50-60% volume of US & UK catered

by India

$ 1-2 mn

• Focus to further increase India’s share in future

Annual Visible Savings (FY23)

Shipping & Warehousing

• Shipping: Renegotiating and evaluating new

vendors

• Labour productivity • GEEK+: Warehouse Robotics Automation (to

$ 2-3 mn

boost picking productivity) • Warehouse consolidation

Contract Renewals & Others

• Renegotiating with IT Vendors • Optimising other costs

$ 2 mn

Results Presentation, Oct 2022

FINANCIAL PERFORMANCE TRENDS

Revenue Breakdown – (Rs. crore)

5 Year CAGR: 13.9%

1,571

1,814

1,986

Revenue

2,540

2,752

Growth vs H1 FY20 37.8%

1,317

 3.2% 1,275

FY18

FY19

FY20

FY21

FY22

H1 FY22

H1 FY23

Fashion Jewelry, Accessories & Lifestyle Products

5 Year CAGR: 11.8%

TV Revenue

1,606 1,699

1,157 1,285

997

Growth vs H1 FY20 33.6%

Digital Revenue

5 Year CAGR: 29.2%

909

986

Growth vs H1 FY20 58.9%

 4.0%

816

784

373

633

510

 3.2% 453

468

201

147

B2B Revenue

FY18

FY19

FY20

FY21

FY22

H1 FY22

H1 FY23

FY18

FY19

FY20

FY21

FY22

H1 FY22

H1 FY23

FY18

FY19

FY20

FY21

FY22

15.5%

H1 FY22

H1 FY23

Results Presentation, Oct 2022

RETAIL PERFORMANCE TRENDS

Volume and ASP

TV Sales

Sales Volume ('000s)

Average Selling Price US$

5,737

6,275

6,070

7,837

6,998

3,628

2,751

27.0

26.4

29.9

27.7

32.6

30.5

36.3

FY18

FY19

FY20

FY21

FY22

H1 FY22 H1 FY23

FY18

FY19

FY20

FY21

FY22

H1 FY22 H1 FY23

Digital Sales

Sales Volume ('000s) 5,409

5,477

3,522

4,113

2,840

2,675

2,268

Average Selling Price US$

20.4

20.7

21.7

22.7

24.2

23.7

25.5

FY18

FY19

FY20

FY21

FY22

H1 FY22 H1 FY23

FY18

FY19

FY20

FY21

FY22

H1 FY22 H1 FY23

Results Presentation, Oct 2022

FINANCIAL PERFORMANCE TRENDS

Profits – (Rs. crore)

Gross Profit Gross Margin (%)

59.6%

62.5%

61.6%

62.3%

64.5%

61.5%

EBITDA EBITDA Margin (%)

1,133 1,224

936

1,714

1,583

 7.8%

783

850

10.1%

12.0%

13.9%

15.3%

11.0%

13.0%

7.5%

CAGR: 24.3%

217

159

276

388

303

171

 43.6% 96

FY18

FY19

FY20

FY21

FY22 H1 FY22 H1 FY23

FY18

FY19

FY20

FY21

FY22 H1 FY22 H1 FY23

PAT*

PAT Margin (%)

7.2%

8.5%

9.6%

10.7%

8.6%

10.7%*

3.3%

CAGR: 29.7%

190

154

113

272

237

* 141

 69.7%

EPS (Rs.) – Post split

16.77

14.56

11.73

9.45

6.91

8.65

2.59

FY18

FY19

FY20

FY21

FY22 H1 FY22 H1 FY23

FY18

FY19

FY20

FY21

FY22 H1 FY22 H1 FY23

*Note: H1 FY22: PAT of H1 FY22 includes exceptional gain of Rs. 32.90 crores wrt waiver of PPP loan (net of expenses). Adjusted PAT for H1 FY22 would be 108 crores , i.e., 8.2% of revenue

Results Presentation, Oct 2022

FINANCIAL PERFORMANCE TRENDS

Balance Sheet – (Rs. crore)

Shareholders’ Equity

Fixed assets including intangibles

550

697

751

964

1,127

1,148

494

481

120

117

163

192

FY18

FY19

FY20

FY21

FY22

H1 FY23

FY18

FY19

FY20

FY21

FY22

H1 FY23

Net Debt FY18

(13)

FY19

FY20

FY21

FY22

H1 FY23

Net Assets *

(93)

(111)

417

399

394

395

540

556

(181)

(194)

(377)

FY18

FY19

FY20

FY21

FY22

H1 FY23

Note: * Net Assets is the balancing figure arrived at by excluding shareholders equity, net debt, and fixed assets including intangibles

Results Presentation, Oct 2022

FINANCIAL PERFORMANCE TRENDS

Cash Flow – (Rs. Crore)

Operating Cash flow

Free Cash Flow

324

268

203

211

181

176

(214)

(27)

FY18

FY19

FY20

FY21

FY22

H1 FY22 H1 FY23

FY18

FY19

FY20

FY21

FY22

H1 FY22 H1 FY23

Cashflows improved YoY as capex reverting to normal levels alongside focus on efficient capital allocation

Results Presentation, Oct 2022

FINANCIAL PERFORMANCE TRENDS

Key Ratios

ROE (TTM)

ROCE (TTM)

32%

61%

25%

26%

23%

46%

37%

13%

27%

31%

18%

FY18

FY19

FY20

FY21

FY22

H1 FY23

FY18

FY19

FY20

FY21

FY22

H1 FY23

Return ratios reflect impact of lower profitability

Note - ROE – based on average net worth ROCE – based on average capital employed

Results Presentation, Oct 2022

ANNEXURES

UPDATES ON DIGITAL COMMERCE MARKETS

Decent QoQ recovery amidst industry wide headwinds

US Retail & E-com Sales*

Retail Sales ($ Tn)

E-com as % of Retail Sales

UK Retail & E-Com Sales

Retail Sales (£ Bn)

E-com as % of Retail Sales

5.4

11.0%

5.2

9.9%

14.0% 5.6

6.5

14.6%

14.4%

3.5

464.3

30.9%

423.7

439.6

436.8

27.8%

17.9%

19.1%

25.0%

26.8%

235.5

120.6

2018

2019

2020

2021

Jan-June 22

2018

2019

2020

2021

Jan-June 2022

July-Sep 2022

5yrs CAGR (Q2):

Shop LC (US): 8%

Shop TJC: 13.1%

Source: United States Census Bureau www.census.gov. And Office for National Statistics www.ons.gov.uk * This data is published with a time lag of 1 quarter

Results Presentation, Oct 2022

ROBUST CORPORATE GOVERNANCE

H1 FY23

Rs. 49.3 crores

Interim Dividend

Dividend Payout Policy

> 20-30% of consolidated free cash flow > Higher payout in special circumstances > Balance between resource conservation and shareholder

reward

B S R & Co. LLP Statutory Auditors

ICRA A (Stable Outlook)

DELOITTE

Internal Auditors

CARE A (Stable ) Credit Rating – Long-term

ICRA A1

CARE A1

Credit Rating – Short-term

RECOGNITIONS & ACCOLADES

Excellence Award’ for ‘IGBC Performance Challenge 2021 for Green Built Environment

LEED’s GOLD Certificate

India, US, UK & China GPTW® Certified

IGJ Award- 2020 (highest exporter of Silver Jewellery from India)

Results Presentation, Oct 2022

SUSTAINABILITY INITIATIVES

ENERGY

Solar 3.23 MW EV

LEED

Certificate

9.1 Mn KWH generated since inception

84 2-Wheelers & 3 4- wheelers for employee commute

Shop LC-US’ both buildings LEED’s Gold certified

BIODIVERSITY

~26,000

Saplings planted for developing 2 Miyawaki forests

~7,000

Additional saplings planted till date

WATER

6100 KL Rainwater harvested

7KL

48KL

500 KL

per annum Water saved per day with the installation of low LPM faucets

Water recycled per day, which equals 17,500 kl. per year 2 RWS Rainwater Storage Tanks

WASTE

100%

conversion of bio- degradable waste (vegetables, food, leaves) into manure

2,200 Kg E-waste recycled

~1,750 Kg Plastic waste recycled

Results Presentation, Oct 2022

COMMUNITY GIVEBACK

> Till

date

Served 69 million meals

to underprivileged children through flagship One for One Program, ’Your Purchase Feeds…’

> Local charity partners

- Akshaya Patra in India - No Kid Hungry and Backpack Friends in US - Magic Breakfast & Felix Project in UK

Social Initiatives during pandemic Providing resources for healthcare services: > Distributed 117 Oxygen Concentrators, 31 BIPAP

and other key medical equipment in hospitals

> Facilitated procurement, transport and installation of

oxygen plant in hospitals

> Vaccination drives for employees and their families

Results Presentation, Oct 2022

VGL SHAREHOLDER BASE: AS ON 30-SEPTEMBER-2022

Key Shareholders

Nalanda India Fund Limited

Motilal Oswal Flexi Cap Fund

Malabar India Fund Limited

Vanguard

Vijay Kedia

Ashish Kacholia

Government Pension Fund Global

Holding as on 30-Sep-22

Shareholding Pattern

10.19%

5.72%

5.40%

1.58%

1.95%

1.21%

0.33%

Others

10.92%

Individual - >1%

3.16%

AIF

0.84%

Domestic Institutions (MF)

5.74%

Foreign Institutions (FPI, FII) & NRI

21.45%

Promoter & Promoter Group

57.89%

Results Presentation, Oct 2022

MANAGEMENT TEAM

Mr. Sunil Agrawal Managing Director, VGL Group

Mr. Nitin Panwad Group CFO, VGL Group

Mr. Vineet Ganeriwala President, Shop LC (US)

Mr. Srikant Jha Managing Director, Shop TJC (UK)

Mr. Deepak Mishra Managing Director, Shop LC (Germany)

Mr. Ankur Sogani Vice President, Commercial, Shop LC (US)

Mr. Deepak Sharma Vice President, Operations, Shop LC (US)

Mr. Raj Singh Vice President, Supply Chain, VGL Group

Mr. Pushpendra Singh Vice President, Human Resources, VGL Group

Mr. Ashish Dawra Vice President, Global IT

https://www.vaibhavglobal.com/management

Results Presentation, Oct 2022

Safe Harbour

limitation, statements relating to the This presentation contains “forward looking statements” implementation of strategic initiatives, and other statements relating to Vaibhav Global Limited (VGL) and its affiliated companies’ future business developments and economic performance.

including, but without

While these forward-looking statements indicate our assessment and future expectations concerning the development of our business, a number of risks, uncertainties and other unknown factors could cause actual developments and results to differ materially from our expectations.

These factors include, but are not limited to, general market, macro‐economic, government and regulatory trends, movements in currency exchange and interest rates, competitive pressures, technological developments, changes in the financial conditions of third parties dealing with us, legislative developments, and other key factors that could affect our business and financial performance.

Vaibhav Global Limited undertakes no obligation to periodically revise any forward-looking statements to reflect future/likely events or circumstances.

THANK YOU

For more information please contact:

Vineet Ganeriwala, President- Shop LC

Nitin Panwad, Group CFO

Prashant Saraswat, Head-IR

Vineet@shoplc.com +91-9358150010

Nitin.panwad@vglgroup.com +91-9571364864

Prashant.saraswat@vglgroup.com +91-8920609578

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