VAIBHAVGBLNSE24 January 2023

Vaibhav Global Limited has informed the Exchange about Investor Presentation

Vaibhav Global Limited

VAIBHAV GLOBAL LIMITED

Ref: VGL/CS/2023/14

Date: 24th January, 2023

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

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,

Pursuant to regulation 30(6) of the SEBI (LODR) Regulations, 2015 please find enclosed Financial Results Presentation of Q3 & 9M FY 2023.

This is for your information and 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

Disclaimer

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This presentation has been prepared by Vaibhav Global Limited (the “Company”) solely for information purposes and does 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 what so ever. 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 plakhed 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.

MD’s Message

Sales for the quarter were Rs. 724 crores, down by 3.6% YoY but much stronger at 28.5% over pre-COVID period of Q3 FY20. Performance is with the backdrop of current moderating consumer demand amidst inflationary environments. In UK market, many of major delivery partners are facing strikes with an industry wide impact on deliveries. During the quarter, we also faced a cyber-attack which resulted in temporary disruption in our US and UK businesses. The company has demonstrated resilience in current economic environment as revenue growth would have been flattish YoY if we negate impact of cyber-attack and delivery disruption.

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Our gross margins continue to remain strong at 60.6%. EBITDA for the quarter has been at 10.5% in Q3 vs 8.1% in Q2 and 11.4% in Q3 of last year. Our sustained cost optimization efforts resulted in sequential EBITDA margin improvement which bottomed out in Q4 FY22.

Germany business continued its growth momentum and is now clocking approx. 1.4 mn € revenue every month. At UK, the Freeview channel upgrade continues to give positive outcomes in terms of ‘new TV customer acquisition’. We are taking proactive measures to mitigate impact of inflation on consumer sentiments, including expanding portfolio of under 10 $ & 20 $ products, content improvement, expand TV footprint, digital and OTT promotions etc. We believe that these headwinds are transient, and we are well placed to leverage true potential of US and UK markets.

Our vertically integrated supply chain network spanning 30 countries and low-cost manufacturing with value sourcing enables achieving industry-leading gross margins. The reach of TV networks by end of Q3 FY23 was ~129 million TV homes, which is ~2% higher YoY. Our products are also available on digital channels, including proprietary website, smartphone Apps, OTT platforms and marketplaces. Our unique customer base is at half a million, new registrations on TTM basis are at 3.2 lakh. New customer acquisition on TTM basis stands at 2.4 lakh, which is lower by 1% YoY but significantly higher by 59% over pre-COVID period of Q3 FY20.

On the sustainability aspects, we are glad to announce that recently we successfully conducted and passed SMETA-4 pillar audit for 2 units. Regarding our midday meal program, ‘Your Purchase Feeds....’, recently, we crossed a milestone of 73 million meals with run rate of approx. 54,000 meals donated every single school day.

Commenting on Q3 FY23 results,

Mr. Sunil Agrawal, Managing Director, Vaibhav Global Limited said:

We expect to achieve flattish to 2% topline growth in Q4 and end this fiscal year with -3% to -2% topline growth. For FY24, we expect to deliver revenue growth in 8% to 10% range with strong operating leverage. However, our mid-term outlook remains intact, and we expect to deliver mid-teens revenue growth in subsequent periods with decent operating leverage. The Board has declared an interim dividend of Rs. 1.50 per share for the quarter. We look forward to maintaining balance between growth, investment & quarterly payouts to generate sustainable value for our stakeholders.

Q3 FY23 Highlights

Resilient performance amidst broader economic challenges. YoY revenue down by 3.6%, but grew strongly at 28.5% vs pre-COVID Q3 FY20

Gross margins maintained above 60%

EBITDA improved sequentially. YoY reflects increased broadcasting & digital marketing cost, partly offset by cost saving initiatives

Sustained our unique customer base at half a million

Sustained focus on Digital Platforms & Automation

Third interim dividend of Rs. 1.50 per equity share (YTD interim dividend of Rs. 4.50 per equity share)

Vaibhav Global conferred with ‘Certificate of Recognition’ by ICSI for its CSR activities

73 million meals since inception of our mid-day meal program ‘Your Purchase Feeds…’ ,serving ~ 54k meals every school day

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Table of Contents

Company Overview

Business Overview

Q3 & 9M Operational & Financial Highlights

Financial Performance Trends

Annexures

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Company Overview

About Us

Vertically-integrated Digital Retailer of fashion Jewellery & lifestyle products ▪ End-to-end B2C business model ▪ Presence through

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

Strong Management and governance

▪ Professional management team ▪ Experienced Independent Board ▪ B S R & Co. LLP – Global Auditor ▪ Deloitte – Internal Auditor

Solid infrastructure backbone

▪ Continued investment in building

digital capabilities

▪ Scalable model with limited capex

requirement

*FTE: Full Time Equivalent

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

▪ TV Homes accessed (*FTE): ~ 129 mn ▪ Growing online presence ▪ Improving customer engagement metrics

Exceptional one for one social program – ‘Your Purchase Feeds…’ ▪ Every piece sold results in one meal for

school-going child

▪ Provided 73 mn meals across India, US,

UK and Germany

Robust customer engagement

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

25 years of Listing with top decile shareholders’ returns

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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%

24.4% CAGR in Market Capitalization since IPO (277 times*), excluding dividend

Strong & Experienced Management

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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

Key Strengths

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Wider Product Bouquet

Higher Consumer & Wallet Share

An Efficient Interplay of

Vertically Integrated Supply Chain

Omni-Channel Presence ▪

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

Industry Leading Gross Margins

Continuous Consumer Engagement

Strong Balance Sheet

Value Creation for Stakeholders

In-House Brand Strength

Business Overview

E-tailing in markets with huge potential of ~USD 20 bn*

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Opportunity size: US: ~$14-$15 bn

UK: ~$2-2.5 bn

Germany: ~2.5-3 bn

VGL Transcends 2 Pools of Product Verticals

Fashion Jewellery, Gemstones & Accessories

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

* Immediate addressable Teleshopping market size

Vertically Integrated Supply Chain

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Low-cost manufacturing Asia Base

Value Sourcing Base

Serving affluent but value-conscious customers in Western Developed Markets

Primary Retail Markets

USA ($)

UK ( )

China

Thailand

Bali

India

Hong Kong

Germany (€)

Resulting in Highest Gross Margins in Industry

Strong Global Presence

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Retail Markets

Shop LC | Shop TJC | Shop LC (UK) (US)

(Germany)

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

Germany

China

India

Retail Markets

Sourcing Countries

Manufacturing Countries

Omni-channel Sales Platform

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DIGITAL

Proprietary TV channels and OTAs

Proprietary Digital Platform

Mobile Applications

GERMANY

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

HH: 75mn OTA: 17mn

27mn 18mn

27mn* 2.5mn

* Including 2mn HH in Austria

Google Marketplace

Third Party Marketplaces

Social Retail

OTT Platforms

Note: OTA – Over the Air; HH - Households

Note: OTT – Over the Top

Strengthening Own Brands

USA

Germany

✓ Leveraging manufacturing & digital

▪ Our Strengths:

capabilities

✓ Number of brands: 31 ✓ Revenue Mix: ~30% 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: ~-50% of global

B2C revenue

✓ New brand launches regularly ✓ Inorganic opportunities (example:

Rachel Galley)

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An update on Rachel Galley

Avg. Monthly Sales ~ $ 80K

Gross Margin ~75 %

12K+ New Customers

4R’s Of Customer Engagement

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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

129mn

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

Consistent Delivery

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Consistent, Focused and Strong Execution

Global Households Reach (in million)

124

129

104

Repeat Purchases (no. of pieces)

Retention (20+ Purchases)

89%

87%

FY20

FY21

FY22

Dec-22

FY20

FY21

FY22

Dec-22

FY20

FY21

FY22

Dec-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

‘Delivering Joy’ Through Innovation

28,800+ Ideas Generated

3,900+ Ideas Approved

1,590+ Products sold at channels

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12,700+ Ideas Proposed to Buyers

2,590+ Orders Placed

Global Search Program A Global product innovation and search program

Crowdsourcing of Ideas From employees, customers and external stakeholders

Product Launched YTD 28,800+ ideas received and 1590+ new and innovative products launched

▪ Initiative to foster entrepreneurship within organization ▪ Recently, 5 business ideas shortlisted for incubation

Innovation Segment:

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

▪ A platform for talented engineering students across India to

showcase their innovative product ideas

9M FY23 Revenue: $14mn (~6% of group revenue)

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

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

Constantly Reimagining Growth in Jewellery Through New Designs & Products

Jewellery Design

Gemstones

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▪ Strong team of professional designers

▪ ~24,000 new designs proposed annually

▪ ~60% acceptance rate of new designs

Few examples of highly successful designs:

▪ Deals in 250+ gemstones including rare gemstones

▪ Widest possible global sourcing

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

▪ Strengths:

✓ In-house manufacturing with testing lab, CAD & CNC

machines

✓ Employees trained at globally benchmarked institutes

Few examples of highest selling new gemstones during 9M FY23:

Hanabi Cut Ring

Rhapsody Platinum Tanzanite Ring

Moissanite Sales: $ 10.01 Mn

Turkizite ™ Sales: $ 9.03 Mn

Ethiopian Opal Sales: $ 5.14 Mn

Rubellite Sales: $ 1.50 Mn

Broad Based E-tailer

B2C Revenues by Format

TV revenues

Digital revenues

22%

78%

FY17

37%

63%

FY22

37%

63%

9M FY23

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B2C Revenues by Product Category

Jewellery

Non-jewellery revenues

11%

89%

FY17

30%

70%

FY22

28%

72%

9M FY23

59.6% of digital revenues in 9M FY23 were from Mobile platform (mobile app + mobile web browser)

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%

4% 28%

68%

23%

77%

39%

61%

38%

62%

FY17

FY22

9M FY23

FY17

FY22

9M FY23

Breakup based on revenue in USD million

Budget Pay revenues refer to products offered on EMI basis

Q3 & 9M FY23 Operational & Financial Highlights

Resilience Amid Challenges

▪ Revival in sales trend reversed lately due to

➢ Muted consumer sentiments in both US & UK

➢ Cost of living crisis & political instability in UK

➢ Disruption in the delivery market in UK

➢ Cyber attack

Revenue and EBITDA trend

11.4%

3.5%

6.9%

2.9%

7.0%

8.1%

1.8%

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10.5%

▪

Improved EBITDA margin on account of

➢ Cost optimisation

➢ Narrowing losses in Germany

Q3 FY22

Q4 FY22

Q1 FY23

Q2 FY23

Q3 FY23

-7.9%

YoY Revenue Growth

EBITDA %

-3.6%

Revenue growth would have been flattish, if we negate the impact of cyber attack & disruption in the delivery market

UK: Freeview Channel Upgradation Yielding Positive Outcomes

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▪ 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 long run

New TV Customer Acquisition (growth)

49.1%

42.7%

22.5% 23.9%

7.8%

0.2%

-16.6%

17.3%

12.9%

13.8%

-10.9%

Impact of cyber attack

60.0%

40.0%

20.0%

0.0%

-20.0%

-40.0%

-43.9%

-60.0%

January

February

March

April

May

June

July

August

September

October

November

December

An update on Germany

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

▪ Now clocking monthly revenue of Euro 1.4mn+ at 60%+ gross margins

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▪ Omni-channel presence (digital is now 31%)

▪ Covering 27mn HH, dispatching 3.5k+ pieces/day

▪ Started ‘Live & Interactive TV’

▪ Positive Customer Orientation: CSAT 96% +; NPS 57

Revenue and Customer Trend

5,000

4,000

) 0 0 0

3,000

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

2,000

1,000

Q2 FY22

Q3 FY22

Q4 FY22

Q1 FY23

Q2 FY23

Q3 FY23

Net Revenue (Euro in '000)

Cumulative No. of customers (in '000)

60.00

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

No. of HH (in miilions)

30.0

25.0

s n o

i l l i

m n

H H

20.0

15.0

10.0

5.0

Q2 FY22

Q3 FY22

Q4 FY22

Q1 FY23

Q2 FY23

Q3 FY23

Expected to breakeven by H2FY24 – one year earlier than projected

OTT & OTA – Widening Digital Platform

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

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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

$2,500

$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

Financial Highlights – Q3 & 9MFY23 Revenue breakup

vs pre-COVID Q3 and 9M FY20 performance

28.5%

Revenue (Rs. Crore)

Total Revenue

2,067

34.2%

3.3% 1,998

750

3.6% 724

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Q3 FY22

Q3 FY23

9M FY22

9M FY23

18.7%

TV Revenue

1,283

27.8%

4.6% 1,225

Revenue split (Rs. Crore)

50.2%

Digital Revenue

736

55.0%

2.0% 721

B2B Revenue

8.3% 52

467

5.5% 441

268

0.4% 269

0.7% 14

Q3 FY22

Q3 FY23

9M FY22

9M FY23

Q3 FY22

Q3 FY23

9M FY22

9M FY23

Q3 FY22

Q3 FY23

9M FY22

9M FY23

27 27

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

Financial Highlights – Q3 & 9MFY23 Revenue breakup

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Revenue Split – (Local Currency)

Shop LC (US)

7.5%

(USD million) 185.0

15.5%

10.3% 165.9

Shop TJC (UK)

11.5%

(GBP million)

62.0

22.3%

9.1% 56.4

65.7

11.3% 58.3

22.9

10.9% 20.4

Q3 FY22

Q3 FY23

9M FY22

9M FY23

Q3 FY22

Q3 FY23

9M FY22

9M FY23

vs pre-COVID Q3 and 9M FY20 performance

28 28

Retail Performance Trends – Q3 & 9M FY23

TV Sales

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Sales Volume ('000s) 5,338

Average Selling Price US$

4,234

36.6

36.4

32.4

36.3

1,710

1,483

Q3 FY22

Q3 FY23

9M FY22

9M FY23

Q3 FY22

Q3 FY23

9M FY22

9M FY23

Sales Volume ('000s)

4,062

3,442

1,387

1,174

Digital Sales

Average Selling Price US$

25.8

27.9

24.4

26.4

Q3 FY22

Q3 FY23

9M FY22

9M FY23

Q3 FY22

Q3 FY23

9M FY22

9M FY23

Financials – Q3 & 9M FY23 Performance

Gross Profit (Rs. Cr) and Margin (%)

EBITDA (Rs. Cr) and Margin( %)

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453

60.4%

3.3% 438

60.6%

1,303

63.0%

6.2% 1,222

61.1%

64% 63% 62% 61% 60% 59%

Q3 FY22

Q3 FY23

9M FY22

9M FY23

300

200

100

Ex-Germany:  4.4%

Ex-Germany:  21.3%

11.4%

10.5%

11.3% 76

256

12.4%

32.9%

172

8.6%

Q3 FY22

Q3 FY23

9M FY22

9M FY23

15%

10%

*PAT (Rs. Cr) and PAT Margin %

EPS (Rs.) – Post Split

9.2%

5.4%

43.5% 39

210

10.2%

61.1%

4.1%

15%

10%

12.90

4.26

2.37

4.97

1,500

1,000

500

300

200

100

Q3 FY22

Q3 FY23

9M FY22

9M FY23

Q3 FY22

Q3 FY23

9M FY22

9M FY23

*Note: Excluding Germany & exceptional item PAT margin would be: 6.9% in Q3 and 6.2% in 9M of FY23

EBITDA Margin Walk

Particulars EBITDA Q3 FY22

Gross Margin

Germany

Shipping cost

% To

Revenue Remarks

11.4%

 0.2%

 0.4% Losses narrowing down

 2.0% Cost renegotiation and internal efficacy

Accelerated Investment in Broadcasting & Digital

 (2.7%)

Conscious investments for future potential and scale

Other expenses

EBITDA Q3 FY23

 (0.8%)

10.5%

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Cost Optimization

Cost Arbitrage: Call Centre

Annual Visible Savings (FY23)

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▪ Presently ~50-60% US & UK volumes catered by India ▪ Focus to further increase India’s share

$ 1-2 mn

Shipping & Warehousing

▪ Shipping: Renegotiating and evaluating new vendors ▪ Labour productivity ▪ GEEK+: Warehouse Robotics Automation (to boost picking productivity) ▪ Warehouse consolidation

Contract Renewals & Others

▪ Renegotiating with IT Vendors ▪ Optimizing other costs

$ 2-3 mn

$ 2 mn

Savings achieved till 9M FY23: ~$ 4 mn

Financial Performance Trends

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Revenue Breakdown – (Rs. crore)

5 Year CAGR: 13.9%

1,571

1,814

1,986

2,540

2,752

34.2%

2,067

1,998

FY18

FY19

FY20

FY21

FY22

9M FY22

9M FY23

Fashion Jewelry, Accessories & Lifestyle Products (Rs. Crore)

5 Year CAGR: 11.8%

5 Year CAGR: 29.2%

TV Revenue

1,606 1,699

1,157 1,285

997

27.8%

1,283 1,225

Digital Revenue 986

909

633

510

373

B2B Revenue

55.0%

736

721

201

147

FY18

FY19

FY20

FY21

FY22

9M FY22

9M FY23

FY18

FY19

FY20

FY21

FY22

9M FY22

9M FY23

FY18

FY19

FY20

FY21

FY22

9M FY22

9M FY23

vs pre-COVID Q3 and 9M FY20 performance

Retail Performance Trends

TV Sales

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Sales Volume ('000s)

5,737

6,275

6,070

7,837

6,998

5,338

4,234

Average Selling Price US$

27.0

26.5

29.9

27.7

32.6

32.4

36.3

FY18

FY19

FY20

FY21

FY22

9M FY22 9M FY23

FY18

FY19

FY20

FY21

FY22

9M FY22 9M FY23

Digital Sales

Sales Volume ('000s)

5,409

5,477

3,522

4,113

2,840

4,062

3,442

Average Selling Price US$

20.4

20.7

21.7

22.7

24.2

24.4

26.4

FY18

FY19

FY20

FY21

FY22

9M FY22 9M FY23

FY18

FY19

FY20

FY21

FY22

9M FY22 9M FY23

Financials – Annual Financial Performance

Gross Profit (Rs. Cr)

EBITDA and EBITDA Margin %

Delivering Joy

2,000

1,500

1,000

59.6%

62.5%

61.6%

62.3%

63.0%

61.1%

500

300

250

200

150

100

936

1,133

1,224

1,583

1,714

1,303

1,222

FY18

FY19

FY20

FY21

FY22

9M FY22 9M FY23

*PAT (Rs. Cr) and PAT Margin %

10.7%

9.6%

10.2%

8.6%

CAGR: 29.7%

8.5%

7.2%

4.1%

113

154

190

272

237

210

500

400

300

200

100

64%

63%

62%

61%

60%

59%

58%

57%

12%

10%

CAGR: 24.3%

12.0%

10.1%

13.9%

15.3%

11.0%

12.4%

8.6%

159

217

276

388

303

256

172

FY18

FY19

FY20

FY21

FY22

9M FY22

9M FY23

EPS (Rs.) – Post Split

11.73

9.45

6.91

16.77

14.56

12.90

4.97

FY18

FY19

FY20

FY21

FY22

9M FY22

9M FY23

FY18

FY19

FY20

FY21

FY22

9M FY22

9M FY23

*Note: Excluding Germany & exceptional item PAT margin would be 6.2% in 9M of FY23

20%

15%

10%

Financials – Annual Financial Performance

Delivering Joy

Shareholders’ Equity (Rs. Cr)

Fixed assets including intangibles (Rs. Cr)

1,127

1,202

964

494

697

751

550

120

117

163

192

FY18

FY19

FY20

FY21

FY22

9M FY23

FY18

FY19

FY20

FY21

FY22

9M FY23

Net Debt (Rs. Cr)

Net Assets* (Rs. Cr)

FY18

FY19

FY20

FY21

FY22

9M FY23

(13)

(181)

(194)

(93)

(118)

417

399

394

395

540

590

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

(377)

FY18

FY19

FY20

FY21

FY22

9M FY23

Financials Performance Trends & Ratios

Delivering Joy

Operating Cash flow (Rs. Cr)

Free Cash Flow (Rs. Cr)

324

203

211

121

268

181

176

(214)

(155)

FY18

FY19

FY20

FY21

FY22

9M FY22

9M FY23

FY18

FY19

FY20

FY21

FY22

9M FY22

9M FY23

ROE (TTM)

32%

25%

26%

23%

ROCE (TTM)

61%

46%

37%

27%

31%

15%

FY18

FY19

FY20

FY21

FY22

9M FY23

FY18

FY19

FY20

FY21

FY22

H1 FY23

Annexures

Growth In Digital Commerce Markets

Delivering Joy

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

5.2

5.4

11.0%

9.9%

14.0% 5.6

6.5

14.6%

14.5% 5.3

423.7

439.6

436.8

464.3

30.9%

30.7%

27.8%

27.3%

17.9%

19.1%

133.4

140.3

2018

2019

2020

2021

Jan-Sep 22

2018

2019

2020

2021

Q3 FY22

Q3 FY23

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

Robust Corporate Governance

Recognitions & Accolades

Delivering Joy

9M FY23

~Rs. 74.1 crores

Interim Dividends

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

LEED’s GOLD Certificate

Dividend Payout Policy

▪ 20-30% of consolidated free cash flows ▪ Balance between resource conservation and shareholder

reward

B S R & Co. LLP

Statutory Auditors

DELOITTE

Internal Auditors

Credit Rating – Long-term

Credit Rating – Short-term

ICRA A

(Stable Outlook)

CARE A (Stable )

ICRA A1

CARE A1

‘Certificate of Excellence’ from ICSI for CSR initiatives

India, US, UK & China GPTW® Certified

Sustainability Initiatives

Energy

Solar 3.23 MW

LEED Certificate

▪ 10.1 Mn KWH generated

since inception

▪ 130 2-Wheelers and 3 4-Wheelers for employees’ commute

▪ Shop LC-US’ both buildings

LEED’s Gold certified

Waste

100%

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

2,200 Kg

▪ E-waste recycled

100%

▪ Plastic waste recycled

Delivering Joy

Water

6,100 KL

▪ Rainwater harvested per

annum

7 KL

▪ Water saved per day with

installation of low LPM faucets

48 KL

▪ Water recycled per day, which

equals 17,500 KL per year

500 KL

▪ 2 RWS Rainwater Storage Tanks

Biodiversity

~26,000

▪ Saplings planted ▪ for developing 2 Miyawaki forests

~9,000

▪ Additional saplings planted till date

Growth With Responsibility

Delivering Joy

▪ Till date Served 73 million meals

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

▪ Serving ~54k meals every single school day

▪ To serve 1 million meals per day by FY31

Shareholding Pattern: As on 31st December 2022

Delivering Joy

Key Shareholders

Nalanda India Fund Limited

Motilal Oswal Flexi Cap Fund

Malabar India Fund Limited

Vanguard

Taiyo Greater India Fund

Vijay Kedia

Ashish Kacholia

Government Pension Fund Global

Holding as on 31-Dec-22

Shareholding Pattern

Others

11.42%

Individual - >1%

3.16%

AIF

0.84%

Domestic Institutions (MF)

5.54%

Foreign Institutions (FPI, FII) & NRI

21.13%

Promoter & Promoter Group

57.91%

10.19%

5.52%

5.40%

1.58%

1.13%

1.95%

1.21%

0.33%

Thank You

Company :

Investor Relations Advisors :

Vaibhav Global Limited

Adfactorspr Pvt. Ltd.

Nitin Panwad, Group CFO nitin.panwad@vglgroup.com

Amit Sharma amit.sharma@adfactorspr.com

Prashant Saraswat Head-Investor Relations prashant.saraswat@vglgroup.com

Disha Shah disha.shah@adfactorspr.com

www.vaibhavglobal.com

www.adfactorspr.com

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