VIP Industries Limited has informed the Exchange about Investor Presentation
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Disclaimer
Some of the statements in this communication may be forward looking statements within the meaning of applicable laws and regulations. Actual results might differ substantially from those expressed or implied. Important developments that could affect the Company’s operations include changes in the industry structure, significant changes in political and economic environment in India and overseas, tax laws, import duties, litigation and labour relations.
The information contained herein has been prepared to assist prospective investors in making their own evaluation of the Company and does not purport to be all-inclusive or to contain all of the information a prospective or existing investor may desire. In all cases, interested parties should conduct their own research/investigation and analysis of the Company and the data set forth in this information. The Company makes no representation or warranty as to the accuracy or completeness of this information and shall not have any liability for any representations (expressed or implied) regarding information contained in, or for any omissions from, this information or any other written or oral communications transmitted to the recipient in the course of its evaluation of the Company.
While we have made every attempt to ensure that the information contained in this presentation has been obtained from reliable source, the Company is not responsible for any errors or omissions, or for the results from the use of this information. All information in this presentation is provided on "as is" basis with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information and without warranty of any kind, express or implies including but not limited to warranties of performance for a particular purpose. In no event will the Company its Directors, legal representatives, agents or employees thereof be liable to anyone for any decision made or action taken by relying on data/information in this Presentation.
Index
Company Overview
Q3 & 9M FY24 Financial Performance
Brands, Channels & Categories
Company Overview
Undisputed leader in an Oligopolistic Indian Luggage Industry
Established in 1968
#1 In the organized luggage space
Present in multiple luggage categories across price points
10 Own Manufacturing Facilities in India & Bangladesh
Servicing customers through ~13,000 Point of Sales across ~1300 towns
~12464 employees*
*~7500 at Bangladesh
Milestones
Leveraging our rich heritage & strong legacy
Revenue Journey (Rs. In Cr.)
Aristocrat Acquisition
Caprese Launch
Skybags Launch
Aristocrat Restage
Bangladesh Operations
Strategic Shift from China Sourcing To Own Mfg
2082
1785
1714
1416
1283
1234
1290
1064
988
868
854
745
619
Carlton Acq China Ofc
Aristo Plast Pvt Ltd
297
287
305
296
321
331
8 6 9 1
567
521
614
439
00-01 01-02 02-03 03-04 04-05 05-06 06-07 07-08 08-09 09-10 10-11 11-12 12-13 13-14 14-15 15-16 16-17 17-18 18-19 19-20 20-21 21-22 22-23
Board Of Directors
is a Commerce graduate and an He experienced industrialist who has pioneered the luggage industry in India. He has an experience of more than 50 years in the luggage industry
Mr. Amit Jatia Independent Director
She a graduate from Oxford University and has done an MBA from the Harvard Business School. She has over 10 years of experience in managing and strategizing the business of luggage, bags and other travel accessories.
Ms Nisaba Godrej Independent Director
She is a qualified Chartered Accountant and has 25 years of experience across varied industries. At VIP industries, she is responsible to build the organization growth strategy and lead execution across all business verticals & regions globally
He holds Post Graduate Diploma in Dye & Moulding from Central Scientific Instruments Organizations, INDOSWISS Training Centre, Diploma in Instrument Technology and has over 40 years of experience luggage industry. At VIP Industries, he heads India manufacturing and New projects
in
Mr. Ramesh Damani Independent Director
Mr. Tushar Jani Independent Director
Dr. Suresh Surana Independent Director
Mr. Dilip Piramal Chairman
Ms Radhika Piramal Executive Vice Chairperson
Ms Neetu Kashiramka Managing Director & CFO
Mr. Ashish Saha Executive Director
He has a degree in Business Administration from the Marshall School of Business, Los Angeles. He has attended several sessions of the YPO / Harvard President’s Program at HBS. He has over 26 years of experience in the QSR industry.
She has completed B.Sc. from The Wharton School and an MBA from Harvard Business School. She is the Executive Chairperson of Godrej Consumer Products and Director of Godrej Agrovet and Teach For India.
He is a Commerce graduate and a post-graduate in from Business Administration, Marketing California State University, Northridge. He has over 20 years of experience in security market.
He is a Science graduate. He is a founder of Blue Dart Courier Services, Blue Dart Express Limited, Blue Dart Aviation Limited and Express Industry Council of India. He has over 40 years of experience in the Shipping and Transport Industry. He has pioneered inland logistics of sea freight containers.
He holds a Doctorate in Business Administration, is a Fellow Member of ICAI and a law graduate from University of Mumbai. He has established RSM India and under his leadership it has become the largest first-generation home-grown accounting, tax and consulting group in India
Strengthened Senior Management Team
Anjan Mohanty
Chief Executive Officer – Bangladesh 25 years of experience in the apparel industry
Anup Sur Vice President – Demand Planning & IT & Systems 26 years of experience across varied industries
Ashish Saha Executive Director & Sr. Vice President – India Manufacturing & New Projects 44 years of experience in the luggage industry
Dipti Shah Jagdev Vice President – Marketing 20 years of experience across varied industries
MVH Sastry Vice President - Procurement & Sourcing 19 years of experience in FMCG industry
Praful Gupta Vice President - Sales & CRM 24 years of experience in the FMCG & and luggage industry
S.Somasundaram Vice President-Strategic Projects (Quality, Supply Planning & Fulfillment) 29 years of experience across varied industries
Sunil Kolhe Sr. Vice President – Design & New Product Development 36 years of experience in luggage industry
Sushant Junnarkar Vice President - E-commerce & Caprese 23 years of experience across industries, and in digital domain for FMCG, fashion & beauty
Vikas Anand Vice President - Human Resources 18 years of experience across varied industries
VIP Power Brands : High Equity, targeted at distinctive opportunity spaces
Proposition
Innovative & Caring partner that makes every trip comfortable, safe and enjoyable
Trendy , colorful luggage brand that helps you get noticed
Partner every young middle Indian in this journey with products that are built to outperform and outlast
Hello Holidays
Move in Style
Unpack Your Dreams
Brand Print
BRANDS FROM THE HOUSE OF VIP INDUSTRIES
VIP Power Brands : High Equity, targeted at distinctive opportunity spaces
Proposition
Luggage Partner For Young Visionaries & Leaders
Avant-garde range of handbags & accessories for every woman who wishes to announce her arrival in life
The New Face Of Business
All That A Girl Can Be
Brand Print
BRANDS FROM THE HOUSE OF VIP INDUSTRIES
Diversified Product Portfolio
HARD LUGGAGE
DUFFLE BAGS
SOFT LUGGAGE
LADIES HANDBAGS
BACKPACKS
Healthy geographical presence – Driving Deeper Penetration
RETAIL TRADE
MODERN TRADE
GENERAL TRADE
ECOM
CSD CPC
INSTITUTIONAL
4 Regions 20 Branches
VIP Presence (No. of towns) As of FY23
As of 9M FY24
As of FY20
182
278
321
73
8
5
263
479
395
79
8
5
375
499
395
79
8
5
Pop Strata
30K – 50K
50K - 1 Lakh
1 - 5 Lakhs
5 -20 Lakhs
20 - 50 Lakhs
50 Lakhs+
Branch locations
Total
867
1229
1361
As per 2011 census
Financial Overview
Performance Highlights (Consolidated)
Q3 FY24 Financial Performance Snapshot
• Overall revenue growth at 4%
Rs. 549 Cr. Revenues
+4%
55.8%* GP %
+6.4%
10% EBITDA %
-4.3%
Rs. 13 Cr. PBT# -74%
Over Q3 FY23
9M FY24 Financial Performance Snapshot
Rs. 1737 Cr. Revenues
+6%
53.4%* GP %
+4.2%
11.1% EBITDA %
-4.8%
Rs. 110 Cr. PBT# -46%
Over 9M FY23
e g d i r B A D T I B E
EBITDA % - Q3 FY 23
Increase in Gross Margin
Increase in Other Expenditure
Increase in Advt Expenditure
Increase in Employee Cost
EBITDA % - Q3 FY 24
14.3%
6.4%
-7.4%
-1.9%
-1.3%
10.0%
d n e r t
C G
Quarter Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24
GC % 49.9% 48.1% 49.4% 57.9% 49.5% 55.5% 55.8%
• Domestic revenue growth at 6%^ • Ecommerce continues to grow at over
65% YoY^
• Secondary sales reported encouraging
trends with over 20% YoY growth • International business impacted with demand slowdown in middle east and increased global China supplies
• Gross margins further improved to 55.8%
buoyed by deflationary raw material trends, in-house cost optimization program and ASP improvement
• Other exp. variance is mainly on a/c of
increased freight & accelerated spends on ecommerce (professional fees & marketplace activations)
• Out of 1.9% Adv. Impact - over 1.5% is on
account of Ecommerce price investments & activations
^growth calculated on gross revenue *net off other income #after exceptional item
Q3 & 9M FY24 Financial Performance - Consolidated
Particulars Revenue from Operations Other Income Total Revenue COGS Gross Contribution GC Margin (without Other Income) Employee Benefits expenses Other Expenses Total Expenses EBIDTA EBIDTA Margin Depreciation EBIT Finance Cost Profit before Exceptional items Exceptional items Expense / (Income) Profit before Tax Tax Profit After Tax
Quarter ended Sep-23 546 3 549 243 306 55.5% 66 184 250 55 10.1% 24 32 12 19 0 19 6 13
Dec-23 546 3 549 241 308 55.8% 69 184 253 55 10.0% 27 28 15 13 0 13 6 7
Dec-22 526 3 529 266 263 49.4% 59 128 187 76 14.3% 18 57 7 51 0 51 7 44
Nine months ended Dec-22 Dec-23 1632 1729 15 8 1647 1737 829 806 818 931 49.2% 53.4% 177 201 378 536 556 737 262 194 15.9% 11.1% 54 71 208 122 20 38 188 84 -15 -26 203 110 46 32 157 78
Rs. In Cr.
Year ended Mar-23 2082 17 2099 1019 1081 51.1% 236 514 750 331 15.8% 74 257 28 229 32 197 44 152
Key Financial Metrics – P&L
549
Revenue 549
529
Gross Margin (Excl Other Income) 55.5%
55.8%
49.4%
Dec-23
Sep-23
Dec-22
Dec-23
Sep-23
Dec-22
EBITDA
PBT before Exceptional Item
10%
10%
14%
51
13
19
Dec-23
Sep-23
Dec-22
Dec-23
Sep-23
Dec-22
Brands & Categories
Revenue Performance : Brands & Categories
Channel-wise Salience
9M FY23 9M FY24
General trade
Retail trade
Modern trade
Ecom
CSD CPC
Institutional
International
23%
11%
27%
14%
12%
7%
5%
22%
10%
27%
21%
10%
7%
3%
Brand-wise Salience
Carlton
VIP
Skybags Premium & Mass Premium Aristocrat + Alfa
Caprese
9M FY23 9M FY24
5%
24%
31%
59%
36%
4%
6%
22%
29%
56%
40%
4%
Category-wise Salience
Uprights
Hard Luggage
Soft Luggage
Duffel Bags
Backpacks
Ladies Hand Bags
9M FY23 9M FY24
76%
49%
27%
8%
12%
4%
76%
52%
25%
8%
12%
4%
1
5
6
9M Domestic Revenue Growth higher at 9% YoY
2
Investments in strengthening ECOM business fundamentals show results with over 50% YoY growth 9M ended Dec’23
3
Backpack new collection has been received very well – making it the second fastest growing category after Hard luggage
4
Balanced focus towards Mass & premium categories reporting green shoots with Carlton & Aristocrat being fastest growing brands for 9M ended Dec’23
Secondary sales picked up in Q3 with focused approach @ 24%; 9M secondary sales growth at 10%
International business suffered with demand slowdown in middle east and increase in global China supplies
Salience & growth calculated on gross revenue
Products & Brands Strengthening
Standout Performance Of Premium Flagship Ranges Across Brands
VIP Airtron, the Lightest Ever VIP, reached more than 15 million consumers through innovative use of CGI on digital platforms
255k Views
8.1M Views
7.7M Views
120k Views
VIP activated 4000+ stores with an innovative 100% Cashback Offer to leverage festive spending
OFFER: Shop for Rs 6999, Get a FREE Gift Box with items worth Rs 6999 inside including neck pillow, backpack, hotel and flight vouchers DURATION: 15th Oct – 15th Dec
Skybags activated 1000+ Stores with savvy Skylite and exclusive BOAT offer
Mega placement drive initiated for Skylite, the lightest and brightest range from Skybags, in 1000+ stores. Unprecedented sell-out in launch month & beyond!
Partnership of two Gen Z favorites, Skybags and Boat, to excite the consumer & drive sales. Mega Promotions of Skybags x Boat offer at over 1000 stores and on social.
Skybags became the FIRST luggage brand to build 1 million strong community on Instagram
Skybags social boasts of Powerful content designed to engage with Young India
Skybags leveraged Netflix’s biggest India launch “Archies” with an exclusive backpack collection
Skybags x Archies painted the town red with Multi Platform activation
Digital
OOH
PR
CGI
Caprese Continued Its Unique Product And Marketing Propositions
For Further Information Contact:
VIP Industries Limited Ms. Neetu Kashiramka – Managing Director & Chief Financial Officer
Email: neetu.kashiramka@vipbags.com
Adfactors PR Pvt. Ltd. Snighter Albuquerque/ Pratik Patil Email: snighter.a@adfactorspr.com/ pratik.patil@adfactorspr.com
Mobile: 9819123804 / 8291510324
5th Floor, DGP House, 88-C, Old Prabhadevi Road, Mumbai – 400025
Thank you