V2RETAILNSE11 November 2021

V2 Retail Limited has informed the Exchange about Investor Presentation

V2 Retail Limited

November 11, 2021

BSE Limited Corporate Relationship Department lst Floor, New Trading, Rotunda Building, P J Towers, Dalai Street, Fort, M umbai -- 400 001

National Stock Exchange Of India Limited Listing Department Exchange Plaza, Bandra Kurla Complex, Bandra least), M umbai -- 400 05 1

Scrip Code -- 532867

Scrip Code -- V2RETAIL

Sub: Investor Presentation for Q2 FY 2021-22

Dear Sir/Mada m

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirementsl Regulations 2015, please find enclosed herewith Investor Presentation for Q2 FY2021-22.

The investor presentation shallalso be uploaded on the website of the Company

You are requested to kindly take the above on record

Thanking you,

Yours ,tr]] ly For.V2 Retin Lihitqd .:l#:av ' Sudbil Kumqt,,'' ./.' Company.S.SISfetdry & Compliance Officer

End.: As above

Khasra No. 919,921,926,928, Extended Lal Dora AbadiVillage Kapashera TeshilVasant Vihar. South West Delhi-110037 Land Mark:- Fun N Food Village Amusement Park ' Tel.: 011-41771850 . E-mail : customercare(@vrl.net.in, cs(@vrl.net.in ' Website: www.v2retail.com . CIN : L74999DL2001 PLC147724

Q2 & H1 FY22 Result Update

Safe Harbor

This presentation and the accompanying slides (the “Presentation”), which have been prepared by V2 Retail Ltd. (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

whatsoever. 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.

This presentation contains certain forward looking statements concerning the Company’s future business prospects and business

profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from those in such

forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and

uncertainties regarding fluctuations in earnings, our ability to manage growth, competition (both domestic and international),

economic growth in India and abroad, ability to attract and retain highly skilled professionals, time and cost over runs on contracts,

our ability to manage our international operations, government policies and actions regulations, interest and other fiscal costs generally prevailing in the economy. The Company does not undertake to make any announcement in case any of these forward

looking statements become materially incorrect in future or update any forward looking statements made from time to time by or on behalf of the Company. Competition

Q2 & H1 FY22 Highlights

Performance Highlights Q1 & H1 FY22 - Standalone

EBIDTA ₹ 165 Mn in Q2 FY22 as compared to ₹ 95 Mn in Q2 FY21. EBIDTA for H1 FY22 stood at ₹ 272 Mn as compared to ₹ 167 Mn in H1 FY21

Gross Profit ₹ 460 Mn in Q2 FY22 as compared to ₹ 270 Mn in Q2 FY21. Gross Profit for H1 FY22 stood at ₹ 721 mn as compared to ₹ 380 mn in H1 FY21.

Revenue

₹ 1,495 Mn in Q2 FY22 as compared to ₹ 850 Mn in Q2 FY21. Revenue for H1 FY22 stood at ₹ 2,321 mn as compared to ₹ 1,220 mn in H1 FY21.

PBT

₹ (67) Mn in Q2 FY22 as compared to ₹ (97) Mn in Q2 FY21. PBT for H1 FY22 stood at ₹ (198) mn as compared to ₹ (214) mn in H1 FY21.

₹

PAT ₹ (52) Mn in Q2 FY22 as compared to ₹ (73) Mn in Q2 FY21. PAT for H1 FY22 stood at ₹ (154) mn as compared to ₹ (162) mn in H1 FY21.

Highlights Q2 FY22

Store Count & Retail Area 96 Stores at end of Q2 FY22 (Opened 3, Closed 0) Total Retail area ~10.1 lakh sq.ft.

SSG

Same Store Sales Growth 59% in Q2 FY22

ASP

Average Selling price in Q2 FY22 was ₹ 261 (Q2 FY21 ₹238)

ABV Average Bill value in Q2 FY22 was ₹ 728 (Q2 FY21 ₹720)

PSF Sales per square feet per month in Q2 FY22 was ₹ 485 (Q2 FY21 ₹ 329)

Highlights H1 FY22

Store Count & Retail Area 96 Stores at end of H1 FY22 (Opened 4, Closed 3) Total Retail area ~10.1 lakh sq.ft.

SSG

Same Store Sales Growth 61% in H1 FY22

ASP

Average Selling price in H1 FY22 was ₹ 257

ABV Average Bill value in H1 FY22 was ₹ 737

PSF

Sales per square feet per month in H1 FY22 was ₹ 361

Key Trends

Business recovery continues with easing mobility restrictions and consumer returning to stores. The stores were operational on an average for 86% days in Q2 as compared to 45% days of the total days in Q1.

We continue to remain focused and committed to the accelerated store expansion strategy despite delays in H1 FY22 due to lockdown.

At V2, with our strong customer connect we have witnessed strong rebound in demand post relaxation of restrictions in Q2 FY22. The recovery has been much sharper with the onset of festive season starting Q3 FY22

Given the underlying business fundamentals and the balance sheet strength, the company is well poised to embark on a new wave of growth and create value for all stakeholders.

Standalone Financial Highlights

Revenue (₹ Million)

Gross Profit (₹ Million) and Gross Profit Margins

EBIDTA (₹ Million) and EBIDTA Margins

Profit After Tax (₹ Million)

Profit & Loss - Standalone

^ Not Annualised

Particulars (₹ million)Q2 FY22Q2 FY21Y-O-YQ1 FY22H1 FY22H1 FY21Y-O-YRevenue from Operations1,49585076%8252,321 1,220 90%Other Income205391111127Total Income1,51590368%9162,4321,34681%Gross Profit46027070%261721 380 90% GP Margin (%)30.8%31.8%31.7%31.1%31.1%EBIDTA1659574%10727216763%EBIDTA Margin (%)11.1%11.2%12.9%11.7%13.7%Depreciation143 126 149 291 247 Finance Cost90 66 89 179 135 PBT(67)(97)31%(131)(198)(214)8%PBT Margin (%)-4.4%-10.7%-14.3%-8.1%-15.9%PAT(52) (73) 29%(102) (154) (162) 5%PAT Margin (%)-3.4%-8.1%-11.1%-6.3%-12.1%Total Comprehensive Income(54) (73) (102) (156) (162) EPS Basic (₹ per share)^(1.50) (2.15) (2.99) (4.48) (4.76) EPS Diluted (₹ per share)^(1.50) (2.14) (2.98) (4.48) (4.75) Pre Ind AS 116 P&L (Standalone)

IND AS 116 became applicable effective annual reporting period beginning April 1, 2019. The Company has

adopted the standard, using the modified retrospective approach for transition. The table highlights the Pre

Ind AS 116 P&L

Particulars (₹ million)Q2 FY22Q2 FY21Y-O-YQ1 FY22H1 FY22H1 FY21Y-O-YRevenue from Operations1,49585076%825 2,321 1,220 90%Other Income61175Total Income1,5028518262,3281,224Cost of Material Consumed1,0355805641,599840Gross Profit46027070%261 721 380 90% GP Margin (%)30.8%31.8%31.7%31.1%31.1%Employee Benefit Expenses1469287233152Other Expenses308225246555336EBIDTA12(47)126%(71)(59)(103)42%EBIDTA Margin (%)0.8%-5.5%-8.6%-2.5%-8.4%Depreciation41 47 49 90 90 Finance Cost12 0 10 22 1 PBT Before Exceptional Item(41)(94)56%(130)(171)(193)11%PBT Margin (%)-2.7%-11.1%-15.7%-7.4%-15.8%Balance Sheet - Standalone

Particulars (₹ in Mn)H1 FY22FY 2021Particulars (₹ in Mn)H1 FY22FY 2021ASSETSEQUITY AND LIABILITIESNon-current assetsEquityProperty, plant and equipment947 971 Equity share capital344 341 Capital Work in Progress0 - Other equity 2,228 2,378 Right to use Assets2,686 2,849 Total - Equity2,572 2,719 Other intangible assets1 5 Intangible assets under development41 46 LIABILITIESFinancial assetsNon-current liabilitiesInvestment in Subsidiary150 150 Borrowings1 1 Other financial assets67 62 Lease Liability2,936 3,056 Income tax assets (net)22 21 Financial liabilities1 1 Deferred tax assets (net)278 233 Provisions32 27 Other non-current assets175 174 Other non-current liabilities- - Total - Non-Current Assets4,367 4,511 Total Non-Current Liabilities2,970 3,085 Current assetsCurrent liabilitiesInventories2,892 2,654 Borrowings504 504 Financial assetsLease Liability311 320 Cash and cash equivalents61 152 Trade payables1,502 1,173 Bank balances other than cash & cash equivalents6 7 Other financial liabilities 79 94 Other financial assets34 13 Provisions25 22 Trade Receivables193 143 Other current liabilities14 14 Other current assets422 452 Total - Current liabilities2,434 2,127 Total - Current Assets3,608 3,419 TOTAL - ASSETS7,976 7,931 TOTAL - EQUITY AND LIABILITIES7,976 7,931 Profit & Loss - Consolidated

^ Not Annualised

Particulars (₹ million)Q2 FY22Q2 FY21Y-O-YQ1 FY22H1 FY22H1 FY21Y-O-YRevenue from Operations1,49585076%8252,321 1,220 90%Other Income205591112133Total Income1,51690567%9172,4321,35280%Gross Profit51327785%268781390 100% GP Margin (%)34.3%32.6%32.5%33.7%32.0%EBIDTA19597102%9929517173%EBIDTA Margin (%)13.1%11.4%12.0%12.7%14.0%Depreciation147 130 153 301 255 Finance Cost91 69 90 181 141 PBT(43)(103)58%(144)(187)(225)17%PBT Margin (%)-2.8%-11.4%-15.7%-7.7%-16.7%PAT(31) (82) 61%(113) (145) (175) 17%PAT Margin (%)-2.1%-9.0%-12.3%-5.9%-12.9%Total Comprehensive Income(33) (82) (113) (147) (175) EPS Basic (₹ per share)^(0.91) (2.39) (3.32) (4.22) (5.12) EPS Diluted (₹ per share)^(0.91) (2.39) (3.31) (4.22) (5.12) Balance Sheet - Consolidated

Particulars (₹ in Mn)H1 FY22FY2021Particulars (₹ in Mn)H1 FY22FY2021ASSETSEQUITY AND LIABILITIESNon-current assetsEquityProperty, plant and equipment1,025 1,049 Equity share capital344 341 Capital Work in Progress0 - Other equity 2,205 2,346 Right to use Assets2,726 2,895 Total - Equity2,549 2,687 Other intangible assets1 5 Intangible assets under development41 46 LIABILITIESFinancial assetsNon-current liabilitiesOther financial assets69 63 Borrowings51 1 Deferred tax assets (net)284 241 Lease Liability2,968 3,094 Income tax assets (net)22 22 Financial liabilities1 1 Other non-current assets175 174 Provisions34 28 Total - Non-Current Assets4,345 4,496 Total Non-Current Liabilities3,054 3,124 Current assetsCurrent liabilitiesInventories3,136 3,018 Borrowings504 537 Financial assetsLease Liability323 331 Cash and cash equivalents62 219 Trade payables1,551 1,315 Bank balances other than cash & cash equivalents6 7 Other financial liabilities 82 99 Other financial assets34 13 Provisions25 22 Trade Receivables56 7 Other current liabilities14 15 Other current assets464 371 Total - Current Assets3,757 3,634 Total - Current liabilities2,499 2,319 TOTAL - ASSETS8,102 8,130 TOTAL - EQUITY AND LIABILITIES8,102 8,130 Cash Flow

H1 FY22H1 FY21H1 FY22H1 FY21PBT (198) (214) (187) (225)Adjustments 377 268 387 276 Operating profit before working capital changes 179 53 200 51 Changes in working capital 54 (365) (41) (312)Cash generated from operations 233 (312) 160 (261)Direct taxes paid (net of refund) (1) (1) (1) (1)Net Cash from Operating Activities 232 (313) 159 (262)Net Cash from Investing Activities (80) 49 (83) 16 Net Cash from Financing Activities (244) (308) (234) (326)Net Change in cash and cash equivalents (91) (573) (158) (572)Opening Cash Balance 152 605 219 605 Closing Cash Balance 61 32 62 33 StandaloneConsolidatedParticulars (₹ in Mn)Store Presence Jammu & Kashmir (1) Kathua

Himachal (1)

Solan

NCR (4)

Mahipalpur; Faridabad; Kapasehra 1; Kapssehra 2

Madhya Pradesh (3)

Jabalpur; Sagar; Rewa

Goa (2)

Panaji; Bicholim

Karnataka (4)

Hubli; Belgaum, Vijaynagar, Gulbarga

Arunachal (1)

Itanagar

Assam (6) & Tripura (1) Guwahati 1; Guwahati 2; Guwahati 3; Silchar; Barpeta; Jorhat; Agartala

Bihar (23)

Patna ; Gaya; Darbhanga; Bhagalpur; Bettiah; Arrah; Purnia; Siwan; Bihar Sharif; Begusarai (1); Sitamarhi; Motihari; Saharsa; Samastipur, Barh; Banka; Buxer; Aurangabad; Begusarai (2); Muzaffarpur; Madhubani; Patna 2; Gopalganj

Jharkhand (8)

Jamshedur; Ranchi; Hazaribagh; Deogarh; Rajdhanwar, Chas, Dumka; Daltonganj

Uttar Pradesh (22)

Gorakhpur 1; Gorakhpur 2; Sitapur; Varanasi 1; Padrauna; Gazipur; Pratapgarh; Lucknow; Behraich; Akbarpur, Varanasi 2; Azamgarh; Ballia ; Varanasi 3; Gorakhpur 3; Basti; Raebareli; Jaunpur; Prayagraj; Mirzapur; Balrampur; Lakhimpur Kheri

Odisha (15)

Cuttack; Berhampur; Bhuwaneshwar 1; Jeypore; Bhuwaneshwar 2; Bhuwaneshwar 3, Jajpur, Angul, Bhadrak, Balasore; Nimapada; Sundergarh; Raj Khariar; Rourkela; Baripada

Uttarakhand (5)

Haldwani; Roorkee; Haridwar, Khatima; Dehradun

1515

Our Brands

JEYPORE, ORISSA

Banka, Bihar

Promotions – Campaigns Q2 FY22

Board of Directors

Mr. Ram Chandra Agarwal, Chairman and Managing Director

• Mr. Agarwal holds a bachelor’s

degree in Commerce.

• Has a vast experience of ~ 25 years of entrepreneurial and business

• He has been a member of the Board

of Directors since inception.

• He provides strategic direction to the Company and is the driving force behind and the growth of the Company.

establishment

• He is the pioneer in value retailing and brought this concept in India.

• He was conferred several awards at different forums such as Ernst & Young Entrepreneur of the year award in 2008 and 4Ps Power Brand Award in 2007.

Mrs. Uma Agarwal, Whole Time Director

Mr. Akash Agarwal, Whole Time Director & CFO

Ms. Rochelle Susanna Dsouza, Nominee Director

• Mrs.

holds Agarwal bachelor’s degree in Arts.

• Has a vast experience of ~ 15 years in the retail industry.

• Mr. Akash Agarwal holds a bachelor’s business of administration from Lancaster University, UK

• Has been a member of the since

of Directors

Board inception.

• He has more than 7 years of Retail in

the

experience Industry.

•

She oversees the marketing strategies of the Company.

• He looks after E-Commerce, Procurement and Financial.

• Ms. Rochelle Susanna Dsouza holds BE in Electronics & Communication and an MBA. She is also a CFA Level III Candidates

•

Is a Principal at Lighthouse , a mid-market focused private equity fund.

consumer

SBI

• Prior to Lighthouse, she worked Capital Markets, at Banking Division, Investment where she focused on equity capital market transactions.

Board of Directors

Mr. Harbir Singh Sidhu Independent Director

Dr. Arun Kumar Roopanwal Independent Director

Mr. Lalit Kumar Independent Director

Mrs. Archana S Yadav Independent Director

▪ He has over 35 Years of extensive experience in working with various retail companies.

▪ He is having a vast experience the field of Marketing, Product Development, Business Development, Strategic Planning and Administration.

▪ A Graduate (BA HONS) from Cambridge University having vast experience of 44 years.

▪ Mr Sidhu has taught Economics at Punjab University and JNU & worked as consultant with Planning commission.

▪ He has vast experience in retail industry, he has worked with: Ebony Retail Holding as Operations Manager, Vishal Mega Mart as Operations Manager, Koutons Retail as Executive Vice President, Credo Brands Marketing Private Limited (Mufti) as CEO

▪ He has over 30 Years of experience in India and Dubai. As an Entrepreneurial Profits & Growth strategist, he has worked with multiple sectors like Finance, Retail, Education & Skill Development, Infrastructure etc..

▪ Mr. Lalit has extensive experience in Retail Industry. He was associated with various retail chains both in India and Dubai. He has also been a visiting faculty to NIFT, New Delhi.

▪ A Chartered Accountant in practice with more than 14 years of experience, having expertise in GST, Income Tax, International Tax & Corporate Audits.

▪ She served as Financial Advisor to the autonomous body M/s National Institute of Solar Energy, under Ministry of New & Renewable Energy. She has also worked with various MNC’s as Management Consultant, Service tax Consultant & Direct Tax advisor.

▪ She was appointed as GST Faculty by ICAI for GST knowledge sharing across India.

Key Financial Indicators - Historical

Financial Highlights – Standalone Profit & Loss Account

₹ in Million

2424

Particulars FY2017FY2018FY2019FY2020FY2021Revenue from Operations4,720 5,594 7,484 7,012 5,386 Other Income16 33 99 23 222 Total Income4,736 5,627 7,583 7,035 5,608 Growth (%)65%19%34%-6%-23%Gross Profit1,388 1,804 2,421 1,960 1,583 GP Margin (%)29%32%32%28%29%EBIDTA431 550 568 783 709 EBIDTA Margin (%)9%10%8%11%13%Depreciation61 84 144 505 538 Finance Cost86 6 7 299 302 PBT Before Exceptional Item283 460 417 (21) (131) PBT Margin (%)6%8%5%0%-2%Exceptional Item (Gain) / Loss233 266 -125 - PAT390 311 205 101 -110 PAT Margin (%)8%6%2.7%1.4%-2.3%Total Comprehensive Income390 310 204 96 (110) Balance Sheet - Standalone

Particulars (₹ in Mn)FY2021FY2020Particulars (₹ in Mn)FY2021FY2020ASSETSEQUITY AND LIABILITIESNon-current assetsEquityProperty, plant and equipment971 889 Equity share capital341 341 Capital Work in Progress- - Other equity 2,378 2,464 Right to use Assets2,849 2,394 Total - Equity2,719 2,805 Other intangible assets5 12 Intangible assets under development46 41 LIABILITIESFinancial assetsNon-current liabilitiesLoans65 59 Borrowings1 8 Other financial assets3 123 Lease Liability3,056 2,658 Investment in Subsidiary150 150 Financial liabilities1 1 Deferred tax assets (net)233 212 Provisions27 24 Income tax assets (net)21 19 Other non-current liabilities- - Other non-current assets174 173 Total Non-Current Liabilities3,085 2,691 Total - Non-Current Assets4,517 4,073 Current assetsCurrent liabilitiesInventories2,654 1,962 Borrowings497 226 Financial assetsLease Liability320 213 Cash and cash equivalents152 605 Trade payables1,173 1,040 Bank balances other than cash & cash equivalents7 70 Other financial liabilities 100 66 Other financial assets7 3 Provisions22 19 Trade Receivables143 130 Other current liabilities14 12 Other current assets452 230 Total - Current liabilities2,127 1,576 Total - Current Assets3,414 2,999 Liabilities directly associated with assets classified as held for sale- Assets classified as held for sale- TOTAL - ASSETS7,931 7,072 TOTAL - EQUITY AND LIABILITIES7,931 7,072 Financial Highlights – Consolidated Profit & Loss Account

Particulars (₹ million)FY2021FY2020Revenue from Operations5,386 7,012 Other Income23025Total Income5,6167,037Gross Profit1,628 1,960 GP Margin (%)30.2%27.9%EBIDTA715773EBIDTA Margin (%)13.3%11.0%Depreciation555 510 Finance Cost313 303 PBT Before Exceptional Item(153)(39)PBT Margin (%)-2.7%-0.6%Exceptional Item (Gain) / Loss- (125)PBT(153)87PBT Margin (%)-2.7%1.2%PAT(128) 88 PAT Margin (%)-2.3%1.2%Total Comprehensive Income(129) 83 EPS Basic (₹ per share)^(3.77) 2.57 EPS Diluted (₹ per share)^(3.76) 2.57 Balance Sheet - Consolidated

Particulars (₹ in Mn)FY2021FY2020Particulars (₹ in Mn)FY2021FY2020ASSETSEQUITY AND LIABILITIESNon-current assetsEquityProperty, plant and equipment1,049 922 Equity share capital341 341 Capital Work in Progress- - Other equity 2,346 2,451 Right to use Assets2,895 2,453 Total - Equity2,687 2,792 Other intangible assets5 12 Intangible assets under development46 41 LIABILITIESFinancial assetsNon-current liabilitiesLoans66 60 Borrowings1 49 Other financial assets3 228 Lease Liability3,094 2,708 Financial liabilities1 1 Deferred tax assets (net)241 216 Provisions28 24 Income tax assets (net)22 20 Other non-current liabilities- - Other non-current assets174 173 Total Non-Current Liabilities3,124 2,782 Total - Non-Current Assets4,502 4,127 Current assetsCurrent liabilitiesInventories3,018 2,152 Borrowings497 276 Financial assetsLease Liability331 223 Cash and cash equivalents219 605 Trade payables1,315 1,032 Bank balances other than cash & cash equivalents7 70 Other financial liabilities 138 69 Other financial assets7 3 Provisions22 19 Trade Receivables7 0 Other current liabilities15 12 Other current assets371 249 Total - Current liabilities2,319 1,631 Total - Current Assets3,628 3,079 - TOTAL - ASSETS8,130 7,205 TOTAL - EQUITY AND LIABILITIES8,130 7,205 CASH FLOW STATEMENT FOR MARCH 31, 2021

FY2021FY2020FY2021FY2020PBT (131) 105 (153) 87 Adjustments 691 665 710 671 Operating profit before working capital changes 560 770 557 758 Changes in working capital (712) 176 (522) (14)Cash generated from operations (152) 946 36 744 Direct taxes paid (net of refund) (2) (3) (2) (3)Net Cash from Operating Activities (154) 943 34 741 Net Cash from Investing Activities (159) (53) (203) 65 Net Cash from Financing Activities (140) (368) (216) (284)Net Change in cash and cash equivalents (453) 522 (386) 522 Opening Cash Balance 605 83 605 83 Closing Cash Balance 152 605 219 605 StandaloneConsolidatedParticulars (₹ in Mn)Robust Financial Performance

Revenue (₹ Million)

EBIDTA (₹ Million) and EBIDTA Margins

PBT (₹ Million)

PAT (₹ Million)

Key Operating Metrics

No. of Stores and Retail Space (lakh sq.ft.)

Inventory Holding Days

Sales per Sq. Ft. (₹ Per Month)

Rent per Sq. Ft. (₹ Per Month)

Thank You

For further information please contact:

Investor Relation Advisors:

Company:

Dr. Rahul Porwal Marathon Capital Advisory Private Limited Tel : +91-22-40030610 / 9967576900 Email : rahul@marathoncapital.in

Mr. Sudhir Kumar (Company Secretary & Compliance Officer) V2 Retail Limited Tel : +91-11-41771850 Email : cs@vrl.net.in

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