V-Mart Retail Limited has informed the Exchange about Investor Presentation

Ref. No. CS/S/L-716/2023-24

3rd November, 2023

To: The Listing Department NATIONAL STOCK EXCHANGE OF INDIA LIMITED “Exchange Plaza” Bandra Kurla Complex, Bandra (E ), Mumbai – 400 051 Scrip Code: VMART Fax: 022-26598120 Email: cmlist@nse.co.in

To: The Corporate Relationship Department THE BSE LTD Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001 Scrip Code: 534976 Fax: 022-22723121 Email: corp.relations@bseindia.com

Sub: Presentation to Analysts/Investors

Dear Sir/Madam,

Please find enclosed herewith the presentation being forwarded to Analysts/Investors on unaudited financial results of the Company for the second quarter and half year ended 30th September, 2023.

The above presentation is also available on the Company's website: www.vmart.co.in.

We request you to kindly take the above information on record.

Thanking You,

Yours Truly For V-Mart Retail Limited

Megha Tandon Company Secretary and Compliance Officer

Encl: As above

V-Mart Retail Limited Investor Presentation Q2FY24

www.vmartretail.co.in / www.limeroad.com

Q2FY24

Key Performance Highlights

Financial Parameters Operational Parameters

Highlights

▪ Revenue Growth 9% YoY, with festive sales shifting to Q3 in CY ▪ Footfalls growth 13% ▪ L2L sales volume growth 6%, ASP (Apparels) -13%, L2L Sales

degrows by -6%

▪ 8 new stores opened in Q2 (5 VM, 3 UL), 2 closed (1 VM, 1 UL)

▪ Limeroad revenues increase by 26%; loss decreases by 23%,

QoQ

▪ vmartretail.com completely transitioned to Limeroad ▪ Limeroad focussing on enabling Omnichannel experience to

brick-n-mortar store consumers

Q2 FY24

The figures for the corresponding previous period/year have been regrouped/reclassified, wherever necessary

LimeRoad business integrated w.e.f November 11, 2022

3

Financial Parameters

Revenue (₹ Millions)

Revenue Mix (%)

LimeRoad Net Merchandise Value – ₹ 538 Million (Q1FY24 – ₹ 445 Million), 21% growth QoQ

EBITDA (₹ Millions , % to Revenue)

PAT (₹ Millions)

4

5,062 4,018 1,044 174 5,494 4,228 1,047 219 TotalV-MartUnlimitedLimeRoadQ2FY23Q2FY249%▲5%▲0%▲26%▲Q1FY2480%8%12%76%10%14%ApparelNon-ApparelFMCGQ2FY23Q2FY24-113 -641 Q2FY23Q2FY24536 433 103 -256 6 172 32 -198 -300 -100 100 300 500 700 900TotalV-MartUnlimitedLimeRoadQ2FY23Q2FY2410.6%10.8%9.9%0.1%4.1%3.1%23%▼Q1FY24Operational Parameters

Footfall (Millions)

Conversion Rate (%)

Same Store Sales (SSSG) Growth* (%)

Average Selling Price (ASP) (₹)

*Q2FY23 SSSG is not comparable, since the base year Q2FY22 was impacted by Covid and current year there is shift of festive season from Q2 to Q3

% change YoY

5

9 11 Q2FY23Q2FY2413%▲55%55%Q2FY23Q2FY24195 173 417 317 291 441 TotalV-MartUnlimitedTotalV-MartUnlimitedASP(Total)ASP(Apparel)12%▼11%▼18%▼13%▼11%▼19%▼10%-6%TotalQ2FY23Q2FY24Apr – Sep FY24

Key Performance Highlights Financial Parameters Operational Parameters

Key Highlights: YTDFY24 vs. YTDFY23

▪ Revenue Growth : 12% YoY ▪ Revenue Channel Mix

• V-Mart : 79% (including 2% digital) +10% YOY • Unlimited : 18% +2% YOY • LimeRoad : 3% (commission revenue)

▪ Revenue Segment Mix

• Fashion : 88% • FMCG : 12%

▪ Total Stores : 437 (VMart : 353 / Unlimited : 84) • Stores Opened : 17 (V-Mart: 13, Unlimited: 4) • Stores Closed : 3 (V-Mart: 1, Unlimited: 2)

▪ New Warehouse Operations started

The figures for the corresponding previous period/year have been regrouped/reclassified, wherever necessary

LimeRoad business integrated w.e.f November 11, 2022

7

Financial Parameters

Revenue (₹ Millions)

Revenue Mix (%)

LimeRoad Net Merchandise Value – ₹ 980 Million

EBITDA (₹ Millions , % to Revenue)

PAT (₹ Millions)

8

1,423 1,138 285 -531 807 178 -453 TotalV-MartUnlimitedLimeRoadYTDFY23YTDFY2413.0%13.0%13.0%4.3%8.4%8.0%91 -861 YTDFY23YTDFY2410,940 8,751 2,189 -12,280 9,652 2,235 393 TotalV-MartUnlimitedLimeRoadYTDFY23YTDFY2412%▲10%▲2%▲81%8%11%79%9%12%ApparelNon-ApparelFMCGYTDFY23YTDFY24Operational Parameters

Conversion Rate (%)

Footfall (Millions)

18%▲

Transaction size (₹)

Average Selling Price (ASP) (₹)

% change YoY

9

56%53%YTDFY23YTDFY241,057 933 2,234 1,001 899 1,947 TotalV-MartUnlimitedYTDFY23YTDFY245%▼4%▼13%▼209 187 434 326 301 459 TotalV-MartUnlimitedTotalV-MartUnlimitedASP(Total)ASP(Apparel)8%▼6%▼17%▼9%▼6%▼18%▼20 23 YTDFY23YTDFY24Operational Parameters

Store Count (Nos)

Tier Wise Sales per square feet (Per Month) (₹)

Sales per square feet (Per Month) (₹)

Retail Space (Millions Square feet)

Tier 1

Tier 2

Tier 3

Tier 4

Tier 1

Tier 2

10

40510652198494371095322055TotalTier 1Tier 2Tier 3Tier 4YTDFY23YTDFY248%▲3%▲2%▲11%▲12%▲5715995535914525676095675594750100200300400500600700800900TotalTier 1Tier 2Tier 3Tier 4YTDFY23YTDFY241%▼2%▲3%▲5%▼5%▲571 589 528 567 586 492 TotalV-MartUnlimitedYTDFY23YTDFY241%▼1%▼7%▼3.6 2.8 0.8 3.8 3.0 0.8 TotalV-MartUnlimitedYTDFY23YTDFY246%▲6%▲3%▲Operational Parameters

Same Store Sales Growth (SSSG) (%)

Same Store Volume Growth (SSVG) (%)

Q2FY23 SSSG and SSSV are not comparable, since the base year FY22 was impacted by Covid and current year there is shift of festive season from Q2 to Q3

Inventory (Days of Sales)

Shrinkage* (% of Revenue)

*Includes provision for obsolescence

11

-0.2%0.7%YTDFY23YTDFY241331421346413213619563TotalApparelNon ApparelFMCGYTDFY23YTDFY24-4%-3%-10%SSSGTotalV-MartUnlimited5%4%9%SSSVTotalV-MartUnlimitedOperating Expenses

Manpower (₹ Millions)

Power & fuel (₹ Millions)

Advertisement (₹ Millions , % to Revenue)

Other Expenses (₹ Millions)

12

294 294 -823 315 508 Total(V-Mart + Unlimited)LimeRoadYTDFY23YTDFY246.7%2.7%2.7%2.7%4%692 415 277 -935 501 223 211 TotalV-MartUnlimitedLimeRoadYTDFY23YTDFY2435%▲21%▲20%▼1,112 930 182 -1,429 1,092 210 127 TotalV-MartUnlimitedLimeRoadYTDFY23YTDFY2429%▲18%▲15%▲508 406 102 -610 475 135 0 TotalV-MartUnlimitedLimeRoadYTDFY23YTDFY2420%▲17%▲32%▲LimeRoad Financial Parameters

NMV & Revenue (₹ Millions)

Synergies

Contribution Margin * (% of NMV)

NMV = Net Merchandise Value

*Excludes Marketing expense

Visits (Millions)

MAUV (Millions)

Average Order Value (₹)

Visit = Total Visit in a month; MAUV = Unique visitors in a month

14

11817421938%39%40%312445538-20%60%50.33100.33150.33200.33250.33300.33350.33400.33450.33500.33550.33600.33Q4 FY23Q1 FY24Q2 FY24NMV GrowthService Revenue% to NMV826719 779 Mar'23Jun'23Sept'238%▲13%▼15%18%28%6%10%27%Mar'23Jun'23Sept'23Vmart Store IntegratedLimeRoad contribution to Vmart Online Orders1%8%10%Mar'23Jun'23Sept'2333%▲650%▲1014 14 Mar'23Jun'23Sept'230%▲1829 28 VisitsMar'23Jun'23Sept'233%▼61%▲LimeRoad is extending our total combined addressable market by targeting

• Youth and fashion first aspirational audience • Leveraging V-Mart store inventory, reducing time and cost to deliver

15

optimised for negative working capital

16

Apr- Sep FY24

Key Business Segments Profit & Loss Statement Balance Sheet Cash flow Statement

17

Statement of Profit & Loss

₹ Millions

* Tax expense includes deferred tax

18

September 30, 2023September 30, 2022(Unaudited)(Unaudited)IRevenue from operations12,28010,940IIOther income3567IIITotal Income (I + II)12,31511,007IVTotal expenses13,46910,886V(Loss)/profit before tax (III-IV)-1,154121VITotal tax expense*-29330VII(Loss)/profit for the year (V-VI)-86191VIIIOther comprehensive (loss)/income-86IXTotal comprehensive (loss)/income for the period (VII+VIII)-86797X(Loss)/Earning per share (Nominal value of Rs. 10 each)(a) Basic (₹)-445(b) Diluted (₹)-445ParticularsFor the period endedSegment Reporting

₹ Millions

19

ParticularsSeptember 30, 2023September 30, 2022ParticularsSeptember 30, 2023September 30, 2022(Unaudited)(Unaudited)(Unaudited)(Unaudited)Segment RevenueSegment AssetRetail Trade (V-Mart + Unlimited)11,88710,940Retail Trade (V-Mart + Unlimited)26,80224,525Digital market place (LimeRoad)3930Digital market place (LimeRoad)1,0180Total Segment Revenue12,28010,940Total27,82024,525Add: Unallocated assets830463Total Segment Asset28,65024,988Segment Results (EBIT)Segment LiabilityRetail Trade (V-Mart + Unlimited)-585129Retail Trade (V-Mart + Unlimited)18,75215,066Digital market place (LimeRoad)-4900Digital market place (LimeRoad)5340Total-1,075129Total19,28615,066Less: Finance Cost-79-8Add: Unallocated liabilities1,7351,321Profit before tax-1,154121Total Segment Liability21,02116,387For the Period EndedFor the Period EndedInd-AS 116 : P&L Impact (YTD FY24)

₹ Millions

“Changes due to Ind-AS 116 (increase) / decrease on PBT”

20

Pre Ind-AS 116Post Ind-AS 116Increased / (decreased) in PBT(A)(B)C = (A-B)Other Expense (Rent impact)3,3642,369995Finance cost 79689-610Depreciation & Amortization 3451,031-686(Loss)/profit before tax (PBT)-301Particulars (impact on PBT) – FY24Balance Sheet

₹ Millions

21

September 30, 2023March 31, 2023September 30, 2023March 31, 2023(Unaudited)(Audited)(Unaudited)(Audited)EQUITY AND LIABILITIES ASSETS Equity Property, plant and equipment4,9773,191 Equity Share Capital198198 Capital work in progress951,092 Other Equity7,4328,292Goodwill1515Total Equity (D)7,6308,490 Intangible assets575606 Right-of-use assets11,01010,643Liabilities Financial assetsFinancial liabilities Other financial assets316321 Lease liabilities11,63511,077 Deferred tax assets (net)826531Employee benefit obligations141125 Other non-current assets305449Non-current liabilities (E)11,77611,202 Non-current assets (A)18,11916,848 Financial liabilitiesCurrent assets Borrowings1,7181,478 Inventories8,4278,706 Lease liabilities838761 Financial assetsPayables (including Trade)5,8324,883 Investments 5785 Other financial liabilities696444 Loans44Employee benefit obligations5651 Cash and cash equivalents150181 Other current liabilities8887 Other bank balances2121Liabilities for current tax (net)1629 Other financial assets331249Current liabilities (F)9,2447,733 Other current assets1,5411,331Total Liabilities (G = E+F)21,02018,935 Current assets (B)10,53110,577TOTAL EQUITY LIABILITIES (H = D+G)28,65027,425TOTAL ASSETS (C = A+B)28,65027,425ParticularsParticularsAs AtAs AtCash Flow Statement

₹ Millions

22

September 30, 2023September 30, 2022(Unaudited)(Unaudited)(A) Cash flows from operating activitiesProfit before Income Tax-1,154122Adjustments to reconcile profit before tax to net cash flows1,7121,316Operating profit before working capital changes5581,438Changes in working capital840-2,298Cash flow from operations1,398-860Taxes paid (net of refunds)-12-77Net cash flow from operating activities (A)1,386-937(B) Investing activities Net cash flow (used in)/from investing activities (B)-682214(C) Financing activities Net cash from/(used in) financing activities (C)-826362Net increase/(decrease) in cash and cash equivalent (D = A+B+C)-122-361Net Capex-702-735Cash Flow Statement for the periodFor the period endingApr – Sep FY24

Store Geographical Spread Other Significant Updates

23

Cluster Based Expansion - New Stores Additions (Q2 FY24)

(1 store closed)

Telangana

(1 store closed)

+1

+2

+2

+1

+1

+1

+1

+1

+2

Q2 FY24

24

8221111TotalKeralaUttar PradeshKarnatakaMadhya PradeshUttarakhandGujrat8114 2 TotalTier 1Tier 2Tier 3Tier 4Total Stores as on September 30, 2023

5

1

YTD FY24

25

STATEFY24FY23ANDHRA PRADESH1211ARUNACHAL PRADESH11ASSAM1414BIHAR5956CHANDIGARH 11GOA11GUJARAT87HARYANA44HIMACHAL PRADESH11JAMMU AND KASHMIR88JHARKHAND2424KARNATAKA1919KERALA42MADHYA PRADESH1917MAHARASHTRA55MEGHALAYA11DELHI55ORISSA1010PUNJAB44RAJASTHAN2423TAMIL NADU2626TELANGANA1718TRIPURA22UTTAR PRADESH135132UTTARAKHAND 1413WEST BENGAL1918Total437423New Stores in Q2

Kerala

UP

Gujarat

UP

Put-To-Light System

Kerala

MP

Karnataka

Uttarakhand

26

Renovated Stores – Refreshed Look

27

Thank you! Thank you!

In case of any queries, please contact the IR Team: ir_vmart@vmartretail.com

In case of any queries, please contact the IR Team: ir_vmart@vmartretail.com