V-Mart Retail Limited has informed the Exchange about Investor Presentation
Ref. No. CS/S/L-533/2021-22
8th November, 2021
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 30st September, 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
Megha Tandon Company Secretary & Compliance Officer
Encl: As above
MEGHA TANDONDigitally signed by MEGHA TANDON Date: 2021.11.08 14:16:18 +05'30' www.vmartretail.com
V-Mart Retail Ltd. Review of Financial Results Q2 FY’22
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 - Sep FY’22
Key Highlights Financial Parameters Operational Parameters
3
Key Highlights: April – Sep FY’22 vs. FY’21 Results
• Number of Stores : 368 (opened : 90, closed : 1)
Includes 74 Unlimited stores acquired and integrated w.e.f 1st September 2021
• Revenue growth : 103% vs. FY’21
• Contribution of segment to total revenue :
o Fashion 91%
o Kirana 9%
• Net profit/(loss) : Rs. (429) million
4
Financial Parameters : April - Sep FY’22 vs. FY’21
Sales (Millions)
Sales Mix (%)
5,154
79.6%
79.0%
2,536
YTD'22 4.5% contribution from 74 Unlimited Stores
YTD'21
11.0%
11.8%
9.4%
9.2%
Apparels
Non Apparels
Kirana
EBITDA (Millions)
PAT (Millions)
187
YTD'22
YTD'22
YTD'21
-62
YTD'21
-429
-526
CY
PY
5
Operational Parameters : April - Sep FY’22 vs. FY’21
Footfall (Lakhs)
Conversion Rate (%)
98
66.6%
64.7%
50
YTD'22
YTD'21
YTD'22
YTD'21
Transaction size (Rs.)
Average Selling Price (Rs)
841
836
299
196
Total
Apparel
252
182
YTD'22
YTD'21
YTD'22
YTD'21
CY
PY
6
Operational Parameters : April - Sep FY’22 vs. FY’21
Sales per sq feet (per month)
Store Count (Nos)
440
328
YTD'22
YTD'21
Same Store Sales Growth (%)
81.7%
YTD'22
YTD'21
-70.6%
Tier 1
Tier 2
Tier 3
Tier 4
100
157
138
56
55
59
35
32
Tier 1
Tier 2
Tier 3
Tier 4
Tier 1
Tier 2
Tier 3
Tier 4
YTD'22
YTD'21
Same Store Volume Growth (%)
75.0%
YTD'22
YTD'21
-69.3%
CY
PY
7
Operational Parameters : April - Sep FY’22 vs. FY’21
Expenses (% of Sales)
Retail Space (Lacs Sq feet)
19.3%
14.6%
YTD'22
YTD'21
32
22
5.0%
5.9%
2.3%
0.5%
5.3%
6.2%
Manpower
Power
Advertisement
Others
Inventory (Days of Sales)
Total
Apparel
Non-apparel
Kirana
181
193
187
176
187
168
92
YTD'22
YTD'21
Shrinkage (% of Sales)
Includes Provision for Obsolescence
4.9%
69
1.0%
2.6%
2.3%
YTD'22
YTD'21
Q2'22
Q2'21
YTD'22
YTD'21 CY
PY
8
Key Highlights: Q2 FY’22 vs. FY’21 Results
• Number of Stores : 368 (opened : 87, closed : 01)
Includes 74 Unlimited stores acquired and integrated w.e.f 1st September 2021
• Revenue growth : 93% vs. Q2’21
• Contribution of segment to total revenue :
o Fashion 91%
o Kirana 9%
• Net profit/(loss) : Rs. (141) million
9
Financial Parameters : Q2 FY’22 vs. FY’21
Sales (Millions)
Sales Mix (%)
3,380
79.4%
79.3%
1,755
Q2'22 6.9 % contribution from 74 Unlimited Stores
Q2'21
Apparels
Non Apparels
Kirana
EBITDA (Millions)
PAT (Millions)
11.2%
12.1%
9.4%
8.6%
206
Q2'22
-3
Q2'21
Q2'22
-141
Q2'21
-190
CY
PY
10
Operational Parameters : Q2 FY’22 vs. FY’21
Footfall (Lakhs)
Conversion Rate (%)
66
35
64.6%
59.5%
Q2'22
Q2'21
Q2'22
Q2'21
Transaction size (Rs.)
Average Selling Price (Rs)
838
844
Q2'22
Q2'21
302
197
Total
Apparel
254
183
Q2'22
Q2'21
CY
PY
11
Ind-AS 116 : P&L Impact (YTD - FY’22)
Particulars (impact on PBT) - YTD
Rent Finance cost Depreciation & Amortization PBT decreased by
“Changes due to Ind-AS 116 (increase) / decrease on PBT”
Pre Ind-AS116 (A) 517 2 190
Post Ind-AS116 (B) 8 325 527
(Rs. in million)
Net Impact on PBT C=(B-A) (509) 323 337 152
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
30.09.2021 (Unaudited)
30.09.2020 (Unaudited)
5,154 86 5,240 5,819 (579) (151) (428) (8) (436)
2,536 164 2,700 3,411 (711) (185) (526) (1) (527)
(21.62) (21.62)
(28.96) (28.96)
13
Financial Review - Balance Sheet and CFS
V-Mart Retail Limited Cash Flow Statement for the period ended September 30, 2021
(Rs. in million)
For the period ended For the period ended
Sept 30, 2021
March 31, 2021
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
(580)
716
136
(1,347)
(1,211)
(50)
(1,261)
(97)
1,443
1,346
182
1,528
(35)
1,493
Net cash flow (used in)/from investing activities (B)
1,597
(4,188)
C. Financing activities
Net cash from/(used in) financing activities (C)
(419)
2,869
D. Net increase/(decrease) in cash and cash equivalents
(A+B+C)
(83)
174
• Net Capex : Rs. 970 million (previous year: Rs. 406 million) •
Free Cash Flows : Rs. -2,231 million (previous year: Rs. 1,087 million)
14
As at As atParticularsSeptember 30, 2021March 31, 2021(Unaudited)(Audited)IASSETSNon-current assetsProperty, plant and equipment2,593.01 1,757.86 Right-of-use assets6,547.30 5,179.99 Capital work-in-progress60.12 21.90 Intangible assets34.08 27.57 Financial assets Investments39.51 36.20 Other financial assets429.30 142.64 Deferred tax assets (net)406.43 252.72 Other non-current assets57.01 27.26 - 010,166.76 7,446.14 Current assetsInventories5,601.36 4,283.07 Financial assets Investments641.38 3,153.64 Loans2.84 0.67 Cash and cash equivalents157.34 238.00 Other financial assets727.58 709.65 Other bank balances28.25 36.73 Other current assets570.85 397.52 - 07,729.60 8,819.28 Total Assets17,896.36 16,265.42 - 0IIEQUITY AND LIABILITIESEQUITYEquity share capital197.33 197.06 Other equity7,702.87 8,055.21 - - 7,900.20 8,252.27 LIABILITIESNon-current liabilitiesFinancial liabilities Lease liability6,694.18 5,307.84 Employee benefit obligations93.04 73.43 - - 6,787.22 5,381.27 Current liabilitiesFinancial liabilitiesBorrowings0.02 - Lease liability448.81 370.19 Trade payablesa) total outstanding dues of ME and SE465.17 558.87 1,727.55 1,357.95 Other financial liabilities 371.43 102.03 Employee benefit obligations36.84 32.07 Liabilities for current tax (net)74.03 121.18 Other current liabilities85.09 89.59 - - 3,208.94 2,631.88 Total Equity and Liabilities17,896.36 16,265.42 b) total outstanding dues of creditors other than ME and SEV-Mart Retail LimitedStatement of un-audited Assets and Liabilities: Stores Geographic Spread Q2 FY’22
15
Stores Geographical Spread Stores Geographical Spread
16
StatesExisting*New*Closed*Total Assam 9 - - 9 Arunachal Pradesh 1 - - 1 Andhra Pradesh - 9 - 9 Bihar 51 3 - 54 Chandigarh 1 - - 1 Delhi 3 1 - 4 Goa - 1 - 1 Gujarat 6 1 - 7 Haryana 1 - - 1 Himachal Pradesh 2 - - 2 Jammu & Kashmir 8 - - 8 Jharkhand 20 2 - 22 Karnataka - 21 - 21 Kerala - 1 - 1 Madhya Pradesh 15 - - 15 Maharashtra - 5 - 5 Meghalaya 1 - - 1 Nagaland 1 - - 1 Odisha 8 1 - 9 Punjab 4 - - 4 Rajasthan 16 2 1 17 Uttar Pradesh 110 5 - 115 Uttarakhand 8 - - 8 West Bengal 14 1 - 15 Tamil Nadu - 22 - 22 Telangana - 14 - 14 Tripura - 1 - 1 Total no. of stores 279 90 1 368 www.vmartretail.com
Thank you….!!
In case of any queries, please contact the IR Team: ir@vmart.co.in