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 400001.
Dear Sir/Madam,
Date: 29.05.2023
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 400051.
Sub: Investor presentation for Quarter (Q4) and Financial Year ended 31st March 2023.
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 Quarter (Q4) and Financial Year ended 31st March 2023. 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: 29.05.2023 Place: New Delhi
TCNS Clothing Co. Ltd
Q4 & Full Year FY23 Results May, 2023
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 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 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.
2
Contents
TCNS Overview
Q4 and Full Year FY23 Business Update
Q4 and Full Year 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 4000+ 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
5
TCNS houses distinct brands in women’s outerwear segment, each with a focused positioning to offer a comprehensive portfolio for Indian women consumer
6
TCNS has widest womenswear reach with 4000+ points of sales, with strong owned omnichannel network and deep partnerships across all key offline and online retailers
Own Omnichannel Network 675 EBO Stores across India and International markets
•
LFS Partners – ~2200+ doors
• Own brand websites offering complete selection and deeper engagement
Key Online Partners
MBO – ~1000+ doors
7
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
8
Q4 and Full Year FY23 Business Update
Sales Recovery: Full year sales grew by 34% over FY22; Total EBO store count grew to 675 stores
Revenue from Operations – Rs Crs.
Full Year FY23
Q4 FY23
1202
1.15X
234
1.34X
896
269
• Offline:
Q4 Highlights
Like for like recovery at ~110%
over Q4FY22
EBO expansion: net addition of 11 stores taking store count to 675
• Online: channels grew by 22% over
Q4FY22
D2C now contributing to more total online
than 75% of business.
10
FY22
FY23
Q4FY22
Q4FY23
FY23 Focus Areas: full-year update
New Brand / Categories
Elleven SIS scaled up to 300+ stores; Range expansion across new initiatives
Third-party Marketplaces
Brand Website
Store Upgradation
D2C reached 75% of online business Omni-channel
share expanded to double-digits of the online D2C sales
fulfilment
Brand websites scaled up 35%+ yoy Contributing to one-quarter of
the online
business
Opened 2 Project Rise stores in Q4 Project Rise total tally 31 as of year end
Store Addition
Opened 76 stores (net) taking store count to 675
11
New Store Opening : W, Airia Mall
12
New Store Opening - W, Palladium Ahmedabad
13
Aurelia, Airia Mall Store images
14
Elleven – New Look Store
15
Elleven – New Look Store
16
Continued investing in brand building; comprehensive marketing agenda rolled out through the quarter across the conversion funnel - W
AWARENESS
MALL BRANDING
CONSIDERATION
SOCIAL MEDIA
LAUNCH EVENT
DECISION EBO
MARKET PLACE BRANDING
DIGITAL ADS
WEBSITE
LFS
17
Brand Building investment continued; strengthened efforts across funnel for the quarter - Aurelia
AWARENESS
MALL BRANDING
CONSIDERATION
MARKET PLACES BRANDING
SOCIAL MEDIA
Myntra
DECISION
EBO
METRO
DIGITAL ADS
WEBSITE
LFS
Q4 FY23 : Reported Ind-AS-116
Particulars (Rs Million)
Q4FY23
Q4FY22
Growth -YoY%
Revenue
EBITDA
PBT
PAT
2686
2344
123
-446
-281
319
-76
-58
15%
-62%
NA
NA
% to Revenue
Q4FY23
Q4FY22
EBITDA
PBT
PAT
4.6%
13.6%
-16.6%
-10.5%
-3.3%
-2.5%
Growth -YoY%
34%
14%
NA
NA
FY23
12016
1416
-312
-175
FY23
11.8%
-2.6%
-1.5%
FY22
8961
1243
-72
-57
FY22
13.9%
-0.8%
-0.6%
19
Q4 FY23 : Brand-wise Performance
Share of Brands (%)
Q4FY23
38%
W
Aurelia
Wishful
57%
5%
6%
Q4FY22
38%
W
Aurelia
Wishful
56%
Q4 FY23 : Channel-wise Performance Channel Wise Revenue Split
Q4FY23
4%
18%
Q4FY22
9%
34%
15%
38%
44%
38%
LFS
EBO's Online & Others MBO
As of Mar’23
Q4 Openings (net)
376
258
7
34
675
10
1
0
0
11
# of EBOs
W
Aurelia
Wishful
Elleven
Total
Pan India Multichannel Presence
4,045
675
2295
1075
Mar'23
4,294
664
2502
1128
Dec'22
MBOs
LFS
EBOs
21
Q4 and Full Year FY23 Detailed Financials
Profit & Loss Statement
S.No. Particulars (In Rs. Million)
Q4FY23 Q4FY22
YoY Q3FY23 QoQ
FY23
FY22
YoY
1
Income
(a) Revenue from operations
(b) Other income
Total income
2
Expenses
(a) Cost of materials consumed
(b) Purchases of stock-in-trade (c) Changes in inventories of finished goods, WIP and stock-in- trade (d) Employee benefits expense
(e) Finance costs
(f) Depreciation and amortisation expense
(g) Selling and distribution expenses
(h) Other expenses
Total expenses
Profit/(loss) before tax (2 - 4)
Total tax expense
Profit/(loss) for the period/year (5 - 7)
3
4
5
2686
38
2724
2344
122
2466
15%
-69%
10%
3061
-12% 12016
8961
38
0%
160
347
3099
-12% 12176
9307
34%
-54%
31%
1515
1240
28
44
22%
-36%
1193
94
27%
-70%
5776
3718
252
148
55%
71%
-512
-554
-8%
-317
61%
-2024
-770
163%
466
182
386
717
387
3169
-446
-165
-281
408
108
287
646
363
2542
-76
-18
-58
14%
68%
34%
11%
7%
25%
NA
NA
NA
455
134
294
749
489
3092
7
2
5
2%
36%
31%
-4%
-21%
2%
NA
NA
NA
1867
1502
520
1208
3174
1714
12488
-312
-137
-175
372
944
2326
1140
9380
-72
-15
-57
24%
40%
28%
36%
50%
33%
NA
NA
NA
23
Balance sheet Assets (Rs Million) Non-current assets (a) Property, plant and equipment (b) Capital work-in-progress (c) Right of use assets (d) Other intangible assets (e) Financial assets - Other financial assets (f) Deferred tax assets (net) (g) Non-current tax assets (net) (h) Other non-current assets Total non-current assets Current Asset (a) Inventories (b) Financial assets (i) Investments (ii) Trade receivables (iii) Cash and cash equivalents (iv) Bank balances other than (iii) above (v) Other financial assets (c) Other current assets Total current assets TOTAL ASSETS
Mar’23 Mar’22
677 1 4496 21 566 634 55 25 6476
436 16 3566 31 512 561 109 66 5297
4942
3609
21 2582 226 3 4 607 8386 14863
1456 1738 104 3 5 396 7311 12607
Equity & Liabilities (Rs Million) Equity (a) Equity share capital (b) Other equity Total equity Liabilities Non-current liabilities (a) Financial liabilities (i) Lease liabilities (ii) Other financial liabilities (b) Provisions (c) Other non-current liabilities Total non-current liabilities Current liabilities (a) Financial liabilities (i) Borrowings (ii) Lease liabilities (iii) Trade payables (iv) Other financial liabilities (b) Provisions (c) Current tax liabilities (net) (d) Other current liabilities Total current liabilities Total liabilities Total equity and liabilities
Mar’23 Mar’22
123 5994 6117
123 6075 6199
4232 67 159 7 4466
395 841 2599 124 6 0 316 4280 8746 14863
3394 109 140 14 3658
0 739 1716 116 5 43 132 2751 6408 12607
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For further information, please contact
Company :
Investor Relations Advisors :
CIN: L99999DL1997PLC090978
CIN: U74140MH2010PTC204285
Mr. Amit Chand
www.tcnsclothing.com
Mr. Rahul Agarwal / Mr. Aakash Mehta rahul.agarwal@sgapl.net / aakash.s.m@sgapl.net +91 98214 38864 / +91 98706 79263
www.sgapl.net