V-Mart Retail Limited has informed the Exchange about Investor Presentation
Ref. No. CS/S/L-547/2021-22
10‘ February, 2022
PRICE "LESS" FASHION
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 third quarter and nine months ended on 31st December, 2021.
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
Sw
ye a Tandon
Company Secretary & Co
Encl: As above
V-MART RETAIL LTD. CIN- L51909DL2002PLC163727
Corporate Office : Plot No. 862, Udyog Vihar, Industrial Area Phase V, Gurgaon - 122 016 (Haryana) Tel. : 0124-4640030, Fax No. : 0124-4640046 + Email : info@vmart.co.in » Website : www.vmart.co.in Registered Office : 610-611, Guru Ram Dass Nagar, Main Market, Opp. SBI Bank, Laxmi Nagar, New Delhi - 110092
www.vmartretail.com
V-Mart Retail Ltd. Review of Financial Results Q3 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 - Dec FY’22
Key Highlights Financial Parameters Operational Parameters
3
374
Number of Stores
Opened : 99
Closed : 4
Key Highlights
67%
Revenue Growth
Vs FY’21
88%
12%
V-Mart
Unlimited
Revenue Contribution
92%
Fashion
8%
Kirana
Revenue Contribution
143
Net Profit / (loss)
₹ Millions
74 stored of Unlimited added w.e.f 1st September 2021 Unlimited store contribution 12% to YTD revenue – remains profitable. Transition and integration progressing as planned Online Business ~1.5% of YTD revenue with marketplace operations at Amazon and Myntra launched recently
4
Financial Parameters
Sales (Millions)
Sales Mix (%)
12,074
80.7%
79.2%
7,236
12% from UL
YTD'22
YTD'21
Apparels
Non Apparels
Kirana
EBITDA (Millions)
PAT (Millions)
11.1%
13.2%
8.2%
7.6%
1,540
977
YTD'22
YTD'21
143
YTD'22
YTD'21 -47
CY
PY
5
Operational Parameters
Footfall (Lakhs)
Conversion Rate (%)
209
133
63.4%
63.0%
YTD'22
YTD'21
YTD'22
YTD'21
Transaction size (Rs.)
Average Selling Price (Rs)
971
918
392
242
352
227
YTD'22
YTD'21
YTD'22
YTD'21
Total
Apparel
CY
PY
6
Operational Parameters
Sales per sq feet (per month)
580
517
100
Store Count (Nos)
162
140
YTD'22
YTD'21
Same Store Sales Growth (%)
35.5%
YTD'22
YTD'21
-49.7%
55
57
63
37
34
Tier 1
Tier 2
Tier 3
Tier 4
Tier 1
Tier 2
Tier 3
Tier 4
YTD'22
YTD'21
Tier 1
Tier 2
Tier 3
Tier 4
Same Store Volume Growth (%)
38.9%
YTD'22
YTD'21
-52.2%
CY
PY
7
Operational Parameters
Expenses (% of Sales)
Retail Space (Lacs Sq feet)
10.6%
11.2%
YTD'22
YTD'21
33
23
3.6%
3.6%
2.5%
1.6%
4.8%
4.2%
Manpower
Power
Advertisement
Others
YTD'22
YTD'21
Inventory (Days of Sales)
Total
Apparel
Non-apparel
Kirana
112
106
99
1.9%
Shrinkage (% of Sales)
Includes provision for obsolescence
2.1%
2.3%
111
115
117
69
61
0.9%
YTD'22
YTD'21
CY
PY
8
Q3'22
Q3'21
YTD'22
YTD'21
Key Highlights
374
Number of Stores
Opened : 9
Closed : 3
47%
Revenue Growth
Vs Q3’21
83%
17%
V-Mart
Unlimited
Revenue Contribution
93%
Fashion
7%
Kirana
Revenue Contribution
571
Net Profit / (loss)
₹ Millions
9
Financial Parameters
Sales (Millions)
6,920
4,700
81.6%
79.3%
Sales Mix (%)
17% from UL
Q3'22
Q3'21
Apparels
Non Apparels
Kirana
EBITDA (Millions)
PAT (Millions)
11.1%
14.0%
7.3%
6.7%
1,400
900
400
-100
1,353
1,038
Q3'22
Q3'21
571
Q3'22
479
Q3'21
CY
PY
10
Operational Parameters
Footfall (Lakhs)
111
Conversion Rate (%)
83
60.6%
62.1%
Q3'22
Q3'21
Q3'22
Q3'21
Transaction size (Rs.)
Average Selling Price (Rs)
1096
968
503
292
446
262
Q3'22
Q3'21
Q3'22
Q3'21
Total
Apparel
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) 920 4 331
Post Ind-AS116 (B) 44 537 931
(Rs. in million)
Net Impact on PBT C=(B-A) (876) 533 600 257
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
31.12.2021 (Unaudited)
31.12.2020 (Unaudited)
12,074 112 12,186 12,002 184 41 143 (12) 131
7.23 7.20
7,236 167 7,403 7,477 (74) (27) (47) (5) (52)
(2.60) (2.60)
13
Financial Review - Balance Sheet and CFS – Unaudited
V-Mart Retail Limited Cash Flow Statement for the period ended December 31, 2021
(Rs. in million)
For the period ended For the period ended
Dec 31, 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
184
1,283
1,467
(947)
520
(51)
469
(97)
1,443
1,346
182
1,528
(35)
1,493
Net cash flow (used in)/from investing activities (B)
164
(4,188)
C. Financing activities
Net cash from/(used in) financing activities (C)
D. Net increase/(decrease) in cash and cash equivalents
(A+B+C)
(805)
(172)
2,869
174
• Net Capex : Rs. 1,250 million (previous year: Rs. 406 million) •
Free Cash Flows : Rs. -781 million (previous year: Rs. 1,087 million)
14
V-Mart Retail LimitedBalance Sheet as at December 31, 2021As at December 31, 2021As at March 31, 2021ASSETSNon-current assets Property, plant and equipment2,632.74 1,757.86 Right-of-use assets7,892.42 5,179.99 Capital work in progress34.71 21.90 Intangible assets33.49 27.57 Financial assets Investments37.44 36.20 Loans Other financial assets358.26 142.64 Deferred tax assets (net)327.25 252.72 Other non-current assets55.59 27.26 11,371.90 7,446.14 - - Current assets Inventories5,465.36 4,283.07 Financial assets Investments 1,799.91 3,153.64 Loans3.57 0.67 Cash and cash equivalents107.26 238.00 Other bank balances18.10 36.73 Other financial assets743.30 709.65 Other current assets514.70 397.52 8,652.20 8,819.28 20,024.10 16,265.42 - - EQUITY AND LIABILITIESEquity Equity share capital197.40 197.06 Other equity8,304.78 8,055.21 8,502.18 8,252.27 - - LiabilitiesNon-current liabilitiesFinancial liabilities Lease liabilities8,067.92 5,307.84 Employee benefit obligations98.82 73.43 8,166.74 5,381.27 - - Current liabilities Financial liabilities Borrowings21.66 - Lease liabilities448.81 370.19 Trade payables a) total outstanding dues of ME and SE 465.17 558.87 b) total outstanding dues of creditors other than ME and SE 1,994.59 1,357.95 Other financial liabilities124.40 102.03 Employee benefit obligations34.14 32.07 Liabilities for current tax (net)182.85 121.18 Other current liabilities83.56 89.59 3,355.18 2,631.88 20,024.10 16,265.42 Stores Geographic Spread YTD 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 5 - 56 Chandigarh 1 - - 1 Delhi 3 1 - 4 Goa - 1 - 1 Gujarat 6 1 - 7 Haryana 1 1 - 2 Himachal Pradesh 2 - - 2 Jammu & Kashmir 8 - - 8 Jharkhand 20 2 - 22 Karnataka - 21 - 21 Kerala - 1 - 1 Madhya Pradesh 15 - 2 13 Maharashtra - 5 - 5 Meghalaya 1 - - 1 Nagaland 1 - - 1 Odisha 8 1 - 9 Punjab 4 - - 4 Rajasthan 16 2 1 17 Uttar Pradesh 110 10 1 119 Uttarakhand 8 1 - 9 West Bengal 14 1 - 15 Tamil Nadu - 22 - 22 Telangana - 14 - 14 Tripura - 1 - 1 Total no. of stores 279 99 4 374 StatesExistingNewClosedTotalAssam99ArunachalPradesh11Andhra Pradesh99Bihar51556Chandigarh11Delhi314Goa11Gujarat617Haryana112Himachal Pradesh22J&K88Jharkhand20222Karnataka2121Kerala11MP15213Maharashtra55Meghalaya11Nagaland11Odisha819Punjab44Rajasthan162117UP110101119Uttarakhand819West Bengal14115Tamil Nadu2222Telangana1414Tripura011Total no of279994374Stores www.vmartretail.com
Thank you….!!
In case of any queries, please contact the IR Team: ir@vmart.co.in