V-Mart Retail Limited has informed the Exchange about Investor Presentation
Ref. No. CS/S/L-493/2021-22
31st May, 2021
To: The Listing Department NATIONAL STOCK EXCHANGE OF INDIA LIMITED “Exchange Plazza” 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 Audited Financial Results of the Company for the fourth quarter and year ended 31st March, 2021.
The above presentation is also available on the company's website: http://www.vmart.co.in.
We request you to kindly take the above information on record.
Thanking you,
Yours Truly For V-Mart Retail Limited
Anand Agarwal Chief Financial Officer
Encl: As below
ANAND AGARWALDigitally signed by ANAND AGARWAL Date: 2021.05.30 09:23:57 +05'30' www.vmartretail.com
V-Mart Retail Ltd. Review of Financial Results Q4 FY’21
Disclaimer
This presentation has been prepared by V-Mart Retail Limited (“V-Mart”) and does not constitute a prospectus or placement memorandum or an offer to acquire any securities. This presentation or any other documentation or information (or any part thereof) delivered or supplied should not be deemed to constitute an offer.
No representation or warranty, express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of such information or opinions contained herein. The information contained in this presentation is only current as of its date. Certain statements made in this presentation may not be based on historical information or facts and may be “forward looking statements”, including those relating to the general business plans and strategy of V-Mart, its future financial condition and growth prospects, future developments in its industry and its competitive and regulatory environment, and statements which contain words or phrases such as ‘will’, ‘expected to’, ‘horizons of growth’, ‘strong growth prospects’, etc., or similar expressions or variations of such expressions. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results, opportunities and growth potential to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to risks with respect to its hair care, its healthcare business and its skin care business.
V-Mart may alter, modify or otherwise change in any manner the content of this presentation, without obligation to notify any person of such revision or changes. This presentation cannot be copied and disseminated in any manner.
No person is authorized to give any information or to make any representation not contained in and not consistent with this presentation and, if given or made, such information or representation must not be relied upon as having been authorized by or on behalf of V-Mart. This presentation is strictly confidential.
April - March FY’21
Key Highlights Financial Parameters Operational Parameters
3
Key Highlights: April - March FY’21 vs. FY’20 Results
• Number of Stores : 279 (opened : 20, closed : 7)
• Revenue 65% of FY’20
• Contribution of segment to total revenue :
o Fashion 92%
o Kirana 8%
• Net profit/(loss) : Rs. (62) million
4
Financial Parameters : April - March FY’21 vs. FY’20
Sales (Millions)
Sales Mix (%)
16,620
78.8%
79.6%
10,755
YTD'21
YTD'20
EBITDA (Millions)
Apparels
Non Apparels
Kirana
PAT (Millions)
13.0%
13.0%
8.2%
7.4%
1,312
2,138
YTD'21
YTD'20
YTD'21 -62
493
YTD'20
CY
PY
5
Operational Parameters : April - March FY’21 vs. FY’20
FootFall (Lacs)
Conversion Rate (%)
393
62.3%
57.6%
205
YTD'21
YTD'20
YTD'21
YTD'20
Transaction size (Rs.)
895
788
Average Selling Price (Rs) Total
344
Apparel
334
220
218
YTD'21
YTD'20
YTD'21
YTD'20
CY
PY
6
Operational Parameters : April - March FY’21 vs. FY’20
Sales per sq feet (per month)
759
530
Tier 1
Tier 2
Tier 3
Tier 4
65
Store Count (Nos)
142
141
37
35
35
32
58
YTD'21
YTD'20
Same Store Sales Growth (%)
YTD'21
YTD'20
Same Store Volume Growth (%)
Tier 1
Tier 2
Tier 3
Tier 4
Tier 1
Tier 2
Tier 3
Tier 4
YTD'20 -2.3%
YTD'21
-39.9%
YTD'21
-40.6%
YTD'20 -6.1%
CY
PY
7
Operational Parameters : April - March FY’21 vs. FY’20
Expenses (% of Sales)
Retail Space (Lacs Sq feet)
10.9%
9.2%
YTD'21
YTD'20
23.0
22.1
3.3%
2.9%
1.7%
2.1%
4.0%
3.7%
Manpower
Power
Advertisement
Others
YTD'21
YTD'20
Inventory (Days of Sales)
Shrinkage (% of Sales)
126
119
107
64
Total
Apparel
Non-apparel
Kirana
91
86
79
1.3%
1.8%
2.0%
1.6%
42
YTD'21
YTD'20
Q4'21
Q4'20
YTD'21
YTD'20
CY
PY
8
Key Highlights: Q4 FY’21 vs. FY’20 Results
• Number of Stores : 279 (opened : 07, closed : 02)
• Revenue 106% of Q4’20
• Contribution of segment to total revenue :
o Fashion 91%
o Kirana 9%
• Net profit/(loss) : Rs. (15) million
9
Financial Parameters : Q4 FY’21 vs. FY’20
Sales (Millions)
Sales Mix (%)
3,519
3,327
77.9%
78.7%
Q4'21
Q4'20
EBITDA (Millions)
Apparels
Non Apparels
Kirana
PAT (Millions)
12.7%
13.1%
9.4%
8.2%
336
Q4'21
278
Q4'20
Q4'21 -15
Q4'20
-84
CY
PY
10
Operational Parameters : Q4 FY’21 vs. FY’20
FootFall (Lacs)
Conversion Rate (%)
72
82
61.1%
55.0%
Q4'21
Q4'20
Transaction size (Rs.)
Q4'21
Q4'20
Average Selling Price (Rs)
851
790
327
202
Total
Apparel
357
222
Q4'21
Q4'20
Q4'21
Q4'20
CY
PY
11
Ind-AS 116 : P&L Impact (FY’21)
Particulars (impact on PBT)
Rent Finance cost Depreciation & Amortization PBT
Pre Ind-AS116 (A) (944) (23) (366)
Post Ind-AS116 (B) (0) (589) (1030)
(Rs. in million)
Net Impact on PBT (B-A) 944 (566) (664) (286)
Rent concession Accounting as per MCA guidelines
Total Rent concession received during the year
Net off from rent
Balance : Other Income
Amount (in Rs.Cr)
26
10
16
Remarks
To the extent rent expense available for set-off
12
Financial Review – Profit & Loss Statement
Particulars
I. Revenue from operations II. Other income III. Total Income (I + II) IV Total expenses (IV) V (Loss)/profit before tax (III-IV) VI Total tax expense* (VI) VII (Loss)/profit for the year (V-VI) VIII Other comprehensive (loss)/income IX Total comprehensive (loss)/income for the period (VII+VIII) X (Loss)/Earning per share (Nominal value of Rs. 10 each)
(a) Basic (Rs.) (b) Diluted (Rs.)
* Tax expense includes deferred tax
Rs. in million (except per share data)
For the period ended
31.03.2021 (Audited)
31.03.2020 (Audited)
10,755 210 10,965 11,062 (97) (35) (62) (3) (65)
(3.37) (3.37)
16,620 45 16,665 15,970 695 202 493 (0) 493
27.18 27.17
13
Financial Review - Balance Sheet and CFS
V-Mart Retail Limited Cash Flow Statement for the year ended March 31, 2021
(Rs. in million)
For the year ended For the year ended
March 31, 2021
March 31, 2020
A. Cash flows from operating activities
Profit before Income Tax
Adjustment for:
Operating profit before working capital changes
Changes in working capital :
Cash flow from operations
Taxes paid (net of refunds)
Net cash flow from operating activities (A)
B. Investing activities
(97)
1443
1346
182
1528
(35)
1493
Net cash flow (used in)/from investing activities (B)
(4188)
C. Financing activities
Net cash from/(used in) financing activities (C)
D. Net increase/(decrease) in cash and cash equivalents
(A+B+C)
2869
174
• Net Capex : Rs. 406 million (previous year: Rs. 546 million) • Free Cash Flows : Rs. 1087 million (previous year: Rs. 317 million)
695
1,500
2,195
(1091)
1,104
(241)
863
5
(943)
(75)
14
V-Mart Retail LimitedStatement of Assets and Liabilities: As at As atMarch 31, 2021March 31, 2020(Audited)(Audited)IASSETSNon-current assetsProperty, plant and equipment1,757.86 1,712.72 Right-of-use assets5,179.99 4,921.11 Capital work-in-progress21.90 24.67 Intangible assets27.57 36.59 Financial assets Investments36.20 33.15 128.34 118.85 Other financial assets14.30 12.52 Deferred tax assets (net)252.72 160.12 Other non-current assets27.26 40.86 - 07,446.14 7,060.59 Current assetsInventories4,283.07 4,779.22 Financial assets Investments3,153.64 45.75 Loans5.41 0.34 Cash and cash equivalents238.00 48.96 Other financial assets704.91 - Other bank balances36.73 0.93 Other current assets397.52 300.69 - 08,819.28 5,175.89 Total Assets16,265.42 12,236.48 IIEQUITY AND LIABILITIESEQUITYEquity share capital197.06 181.56 Other equity8,055.21 4,407.76 - - 8,252.27 4,589.32 LIABILITIESNon-current liabilitiesFinancial liabilities Lease liability5,307.84 4,378.37 Employee benefit obligations73.43 61.23 - - 5,381.27 4,439.60 Current liabilitiesFinancial liabilitiesBorrowings- 10.47 Lease liability370.19 778.26 Trade payablesa) total outstanding dues of ME and SE558.87 504.37 1,357.95 1,463.53 Other financial liabilities 102.03 260.81 Employee benefit obligations32.07 25.49 Liabilities for current tax (net)121.18 96.71 Other current liabilities89.59 67.92 - - 2,631.88 3,207.56 Total Equity and Liabilities16,265.42 12,236.48 b) total outstanding dues other than ME and SE LoansParticulars Stores Geographic Spread Q4 FY’21
15
Stores Geographical Spread Stores Geographical Spread
Stores opened till FY20
Stores opened during FY21
Stores closed during FY21
Existing New Closed Existing New Closed 1 1
1
9 9
266
20
07
Total Total 09 10
1 1 49 51 1 1 3 3 6 6 1 1 2 2 8 8 20 20 15 15 1 1 1 1 8 8 4 4 15 16 110 107 8 8 14 14
6 4
1 1 1 1
2 3 8 4
1 1
1 1
1 1
1
2 2
20 13
7 05
279 274
16
States` States
Assam Assam Arunachal Arunachal Pradesh Pradesh Bihar Bihar Chandigarh Chandigarh Delhi Delhi Gujarat Gujarat Haryana Haryana Himachal Pradesh Himachal Pradesh J&K J&K Jharkhand Jharkhand MP MP Meghalaya Meghalaya Nagaland Nagaland Odisha Odisha Punjab Punjab Rajasthan Rajasthan UP UP Uttarakhand Uttarakhand West Bengal West Bengal Total no of Total no of Stores Stores
1 1 45 45 1 1 3 3 6 6 1 1 3 3 8 8 19 19 15 15 1 1 1 1 9 9 4 4 13 13 103 103 8 8 16 16
266 266
www.vmartretail.com
Thank you….!!
In case of any queries, please contact the IR Team:
Girish Garg - girish.garg@vmart.co.in