SPAL

ay ©) y S.P.APPARELS LTD. sy Ss _SGg "===" Regd. O : ffice : 39-A, Extension Street, Kaikattipudur, AVINASHI - 61 654, Tamil Nadu, India. Phone +91-4296-714000 E-mail:spindiads-p-apparels.com Web : www.s-p-apparels.com CIN No.: L18101TZ2005PLCO12295 22™ June, 2021 The Listing Department The Listing Department BSE Limited National Stock Exchange ofIndia Limited Phiroze Jeeyeebhoy Towers, 'Exchange Plaza', Dalal Street, Bandra-Kurla Complex, Bandra (East), Mumbai — 400 001. Mumbai — 400 O51. Scrip Code: 540048 Symbol: SPAL Dear Sirs, Sub: Financial Presentation Please find enclosed herewith the copy of Financial Presentation for Q4 & FY 21 results of the C Company. Kindly take the same on your records. Thanking you, For S.P.Apparels Limited, (* x vor" \ ah K.Vinodhini Company Secretary and Compliance Officer Encl: As above (AGOVT.OFINDIA RECOGNISEDTHREESTAR EXPORTHOUSE) S.P.APPARELS LIMITED INVESTOR PRESENTATION Q4 & FY21 Results Update June 2021 DISCLAIMER This presentation and the following discussion may contain “forward looking statements” by S.P. Apparels Limited (“SPAL” or the Company) that are not historical in nature. These forward looking statements, which may include statements relating to future results of operations, financial condition, business prospects, plans and objectives, are based on the current beliefs, assumptions, expectations, estimates, and projections of the management of SPAL about the business, industry and markets in which SPAL operates. These statements are not guarantees of future performance, and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond SPAL’s control and difficult to predict, that could cause actual results, performance or achievements to differ materially from those in the forward looking statements. Such statements are not, and should not be construed, as a representation as to future performance or achievements of SPAL. In particular, such statements should not be regarded as a projection of future performance of SPAL. It should be noted that the actual performanceor achievementsof SPAL may vary significantlyfrom such statements. 2 Q4 & FY21 RESULTS UPDATE Company Overview Financial Overview & Shareholding Structure Q4 FY21 - KEY HIGHLIGHTS 12.8% YoY growth 14.3% YoY growth 86.8% YoY growth in garment 12.6 Mn pieces export volume in total revenue1 in SPUK revenue division revenue 33.4% growth in adj. EBITDA YoY2 12.6 Mn pieces volume produced 5.5% PAT Margin, 275.6% YoY and 186 bps +379 bps YoY growth in PAT expansion in adj. EBITDA margin Net Debt reduced ~60.2% sewing machine capacity ~53.8% YoY 46.2% YoY by Rs. 245 mn utilisation Growth in Growth in SPUK resulting in lower Garment EBITDA EBITDA Debt to Equity Ratio of 0.2 x 1. Total revenues include realised gain on account of foreign exchange fluctuations (accounted in other income) 4 2. In addition to (1), EBITDA calculation excludes unrealised MTM gain / loss on account of foreign exchange fluctuations (accounted in other expenses) Q4 FY21 RESULT – KEY HIGHLIGHTS Q4 FY21 YoY ANALYSIS In Rs Mn REVENUES 1 Adj. EBITDA & EBITDA MARGIN 2 PBT*& PBT MARGIN 3 PAT & PAT MARGIN 3 13.0% 1,937.0 7.8% 5.5% 1,694.5 1.7% 11.1% 3.0% 14% 33% 251.6 151.9 194% 276% 188.6 105.6 51.6 28.1 Q4 FY20 Q4 FY21 Q4 FY20 Q4 FY21 Q4 FY20 Q4 FY21 Q4 FY20 Q4 FY21 1. Total revenues include realised gain on account of foreign exchange fluctuations (accounted in other income) 2. In addition to (1), EBITDA calculation excludes unrealised MTM gain / loss on account of foreign exchange fluctuations (accounted in other expenses) 3. PBT Margin = Reported PBT / Total Revenues 1 , PAT Margin = Reported PAT / Total Revenues 1 5 FY21 RESULT – KEY HIGHLIGHTS FY21 YoY ANALYSIS In Rs Mn REVENUES 1 Adj. EBITDA & EBITDA MARGIN 2 PBT*& PBT MARGIN 3 PAT & PAT MARGIN 3 8,309.3 6,531.9 16.4% 9.1% 10.8% 6.6% 5.3% 5.6% 1,072.0 21% 895.3 20% 591.4 33% 8% 444.1 469.2 431.7 FY20 FY21 FY20 FY21 FY20 FY21 FY20 FY21 1. Total revenues include realised gain on account of foreign exchange fluctuations (accounted in other income) 2. In addition to (1), EBITDA calculation excludes unrealised MTM gain / loss on account of foreign exchange fluctuations (accounted in other expenses) and prior to the exceptional item 3. PBT Margin = Reported PBT / Total Revenues 1 , PAT Margin = Reported PAT / Total Revenues 1 * Exceptional item of Rs 97.3 Mn in Q3FY20 6 Q4 FY21 RESULT – DIVISION WISE ANALYSIS In Rs Mn Q4 FY21 YoY ANALYSIS –TOTAL REVENUE BREAKUP 1 DIVISIONREVENUES SHARE Q4 FY20 Q4 FY21 Garment Exports 85.6% 84.4% 1,937 SPUK 6.9% 11.3% 1,694 82.6 219.57 127.2 Retail 7.5% 4.3% 117.54 -35% 87% Adj. EBITDAMARGIN % 2 Q4 FY20 Q4 FY21 1,634.9 1,449.8 Garment Exports 13.1% 17.8% 13% SPUK 3.5% 2.7% Q4 FY20 Q4 FY21 Retail -3.9% -55.4% Garment Exports SPUK Retail 1. Total revenues include realised gain on account of foreign exchange fluctuations (accounted in other income) 2. In addition to (1), EBITDA calculation excludes unrealised MTM gain / loss on account of foreign exchange fluctuations (accounted in other expenses) 7 FY21 RESULT – DIVISION WISE ANALYSIS In Rs Mn DIVISIONREVENUES SHARE FY20 FY21 FY21 YoY ANALYSIS –TOTAL REVENUE BREAKUP 1 Garment Exports 84.6% 82.2% SPUK 6.1% 11.8% 8,309 Retail 9.3% 6.0% 776.3 506.6 6,532 GROSS MARGIN % 2 FY20 FY21 395.0 49% 768.1 Garment Exports 63.0% 68.6% SPUK 9.0% 8.8% 7,026.4 52% Retail 35.3% 21.6% 5,368.7 24% Adj. EBITDAMARGIN % 3 FY20 FY21 Garment Exports 12.0% 20.2% FY20 FY21 SPUK 3.7% 5.3% Garment Exports SPUK Retail Retail 4.4% -13.1% 1. Total revenues include realised gain on account of foreign exchange fluctuations (accounted in other income) 2. Gross Margin (1) minus COGS 3. In addition to (1), EBITDA calculation excludes unrealised MTM gain / loss on account of foreign exchange fluctuations (accounted in other expenses) 8 Q4 FY21 RESULT – KEY ANALYSIS FINANCIAL UPDATE: • Q4 FY21 total revenues1 increased by 14.3% YoY to Rs 1,937 mn. • Revenues grew by 12.8% on a YoY basis in Garment Exports division due to increased demand from existing customers post Covid-19 related lockdowns in UK and EU Region • Revenue grew at a robust pace of 86.8% on a YoY basis in SPUK division due to easing of lockdown restrictions in UK region • Retail division witnessed a de-growth of 35.1% YoY, on account of lower demand due to closer of malls & retail stores • Q4 FY21 Adj. EBITDA2 jumped by 33.4% YoY to Rs 251.6 mn. Adj. EBITDA margins improved significantly by 186 bps YoY to 13%. • Higher EBITDA was primarily due to improved efficiency and cost control measures • Q4 FY21 PBT grew 194.1% YoY to Rs 151.9 mn. • PBT grew due to lower finance costs which was led by 18% YoY reduction in Net Debt • Q4 FY21 PAT increased by 275.6% YoY to Rs 105.6 mn. PAT margin3 expanded to 5.5% from 1.7% YoY. • Lower finance cost and higher operating leverage drove the PAT margins up 1. Total revenues include realised gain on account of foreign exchange fluctuations (accounted in other income) 2. In addition to (1), EBITDA calculation excludes unrealised MTM gain / loss on account of foreign exchange fluctuations (accounted in other expenses) 9 3. PBT Margin = Reported PBT / Total Revenues 1 , PAT Margin = Reported PAT / Total Revenues 1 Q4 & FY21 RESULT – CONSOLIDATED PROFIT & LOSS STATEMENT Particulars (In Rs Mn) Q4 FY21 Q4 FY20 YoY% FY21 FY20 YoY% Revenue from Operations 1,916.2 1,683.7 13.8% 6,523.1 8,089.7 -19.4% Gain on account of Foreign Currency Fluctuations 20.79 10.82 92.1% 8.8 219.6 -96.0% Total Revenues 1,937.0 1,694.5 14.3% 6,531.9 8,309.3 -21.4% COGS 867.5 757.13 14.6% 2,697.7 3,567.0 -24.4% Gross Profit 1,069.5 937.4 14.1% 3,834.2 4,742.3 -19.1% Gross Margin 55.2% 55.3% -10bps 58.7% 57.1% 163bps Employee Expenses 450.72 443.81 1.6% 1,491.7 1,961.4 -23.9% Other Expenses excl. MTM gain / loss on account of Foreign Currency 367.2 304.98 20.4% 1,270.5 1,885.6 -32.6% Fluctuations Adj. EBITDA 251.6 188.6 33.4% 1,072.0 895.3 19.7% Adj. EBITDA Margin % 13.0% 11.1% 186bps 16.4% 10.8% 564bps MTM (Gain) / Loss on account of Foreign Currency Fluctuations 0.56 0.05 1020.0% 19.8 -155.8 -112.7% Depreciation 75.66 83.4 -9.3% 323.1 299.3 7.9% Finance Cost 23.53 54.23 -56.6% 142.8 227.8 -37.3% Other Income excl. Gain on account of Forex Fluctuations 0 0.74 -100.0% 5.0 17.5 -71.5% Exceptional Items 0.0 0.0 - 0.0 97.3 - PBT 151.9 51.6 194.1% 591.4 444.1 33.2% Tax Expense 46.31 23.53 96.8% 159.7 -25.1 -736.3% PAT 105.6 28.1 275.6% 431.7 469.2 -8.0% PAT Margin % 5.5% 1.7% 379bps 6.6% 5.6% 96bps Earnings Per Share (EPS) In Rs. 4.11 1.09 277.1% 16.8 18.3 -8.0% 1. Total revenues include realised gain on account of foreign exchange fluctuations (accounted in other income) 2. In addition to (1), EBITDA calculation excludes unrealised MTM gain / loss on account of foreign exchange fluctuations (accounted in other expenses) 3. PAT Margin = Reported PAT / Total Revenues 1 10 FY21 – CONSOLIDATED BALANCE SHEET Particulars (Rs Million) Mar-20 Mar-21 Particulars (Rs Million) Mar-20 Mar-21 Equities&Liabilities Assets Shareholder'sFunds Non-CurrentAssets ShareCapital 256.9 256.9 a.Property,PlantandEquipment 3,964.8 4,007.6 OtherEquity 4,975.3 5,326.9 b.Capitalworkinprogress - 102.4 TotalShareholder'sFunds 5,232.2 5,583.9 c.Intangibleassets 60.5 59.7 MinorityInterest -64.2 -64.5 d.FinancialAssets Non-CurrentLiabilities Investments 1.9 1.9 a.FinancialLiabilities Loans&Advances 0.6 0.0 Borrowings (please refer note below) 616.0 547.1 Others 176.3 209.8 Other Financial Liabilities 132.4 135.8 e.Othernon-currentassets 21.1 10.4 b. DefferedTax Liabilities 201.2 301.8 f.Rightofuseassets 414.1 372.6 c. Other Non-Current Liabilities 0.0 0.0 Totalnon-currentassets 4,639.3 4,764.4 TotalofNon-currentliabilities 949.6 984.8 CurrentAssets CurrentLiabilities a.Inventories 2,277.6 2,413.5 a.FinancialLiabilities b.FinancialAssets Borrowings 1,555.2 1,282.1 Investments 0.0 0.0 Trade Payables 845.0 911.4 TradeReceivables 940.4 1,166.8 Other Financial Liabilities 304.6 256.8 Cash&Cashequivalents 463.0 411.8 b. Other Current Liabilities 21.1 60.0 Others 0.0 0.0 c. Provisions 81.2 88.1 c.OtherCurrentAssets 604.4 346.0 TotalofCurrentliabilities 2,807.0 2,598.4 Totalcurrentassets 4,285.3 4,338.0 TotalLiabilities 8,924.7 9,102.5 TotalAssets 8,924.7 9,102.5 Note : Long term debt includes right to use property obligation close to Rs. 334 Mn 11 Q4 & FY21 Results Update COMPANY OVERVIEW Financial Overview & Shareholding Structure BRIEF PROFILE ▪ SPAL is one of the leading manufacturers and exporters of knitted garments for infants and children in India. ▪ Provides end-to-end garment manufacturing from greige fabric to finished products including body suits, sleep suits, tops and bottoms. BUSINESS OVERVIEW ▪ Strong promoter pedigree with more than two decades of experience in textile and apparels industry. ▪ SPAL is a specialized player in the highly challenging infant & children wear knitted garment industry. ▪ Preferred vendor through long standing relationships with reputed international brands etc. ▪ Stringent quality compliance, superior in-house product development and certified testing laboratories. KEY STRENGTHS ▪ Demonstrated ability to setup integrated facilities to scale-up operations. Currently operating 26 facilities having close proximity to key raw materials & skilled labour. ▪ Advanced manufacturing machineries with latest technology and automation. ▪ Reported Consolidated Revenues, EBITDA and PAT were Rs 6,523 mn, Rs 1,072 mnand Rs 432 mnin FY21. ▪ Strong balance sheet with Net Debt to Equity ratio of 0.20x as on Mar-21. FINANCIAL OVERVIEW * ▪ Improving profitability & return ratios over FY15 to FY21- ▪ Reported PAT Margin: 1.7% to 6.6% ▪ Cash Adjusted ROCE: 13.4% to 11.5% ▪ ROE: 9.6% to 14.1% ROE = PAT before MI / Avg. Equity (Excl. preference shares) + MI 13 Cash Adj. ROCE = EBIT / Avg. Capital Employed (excl. cash & current investments), OUR EVOLUTION 2007-08 Amalgamation with Sri Balaji 2016 2003 BakkiamSpinning Mills ▪ Listed on BSE / NSE Set-up first in-house embroidery 2008-13 ▪ Repayment of Loans to facility at Thekkalur Streamlining of operations to integrate the reduce leverage 2004 factories, increase efficiencies and increase 1989 Set-up of flagship factory backward integration Startedexportoperationsas at Avinashi apartnership firm 1989-2003 2004-2008 2008-2015 2016-19 Bootstrap Phase Expansion Phase Consolidation Phase Growth Phase 2005 2014 Commissioned dyeing plant 1998 Incorporation of SP Apparels UK to cater to increasing at Perundurai Set-upmanufacturing facility integration, get a closer-to-client presence, and atNeelambur develop new relationships 2017-19 2006 ▪ Investment by NYLIM in the Company ▪ Integration / expansion of manufacturing facilities to increase operational efficiency ▪ Investment in Joint Venture Company for ▪ Expansion of Crocodile brand in unexplored manufacturing and marketing of states and cities “Crocodile” Brand 14 LEADING EXPORTER OF INFANT & CHILDREN WEAR IN INDIA SPAL IS A SPECIALIZED PLAYER IN THE HIGHLY CHALLENGING INFANT & CHILDREN WEAR KNITTED GARMENT INDUSTRY INDUSTRY’S UNIQUE CHALLENGES SPAL’S CORE COMPETENCIES 1 Demonstrated manufacturing excellence for over two decades • Labour intensive operations. • Employee training & skill development. SPAL is strongly placed to capitalize • Employee occupational health & welfare. Clear understanding of buyer preferences and on future growth opportunities specifications of knitted garments and embellished 2 garments in infants and children category • Demands large variety and small batch size orders. Ability to consistently deliver high quality • Highly complex manufacturing. products on timely basis SPAL –EXPORTS VOLUMES SOLD IN MILLION 3 59.9 57.6 • Stringent safety and quality requirements in Meeting stringent compliance requirements of 47.9 49.2 42.1 international customers 36.0 developed markets. • Severe restrictions on the use of chemicals, dyes, accessories and other additives to Long standing relationships with reputed global prevent any side-effects on infants and brands FY16 FY17 FY18 FY19 FY20 FY21 children. Note: Lower volumes in FY21 on account of Covid-19 related disruptions 15 PREFERRED VENDOR TO REPUTED INTERNATIONAL BRANDS SPAL IS THE PREFERRED VENDOR FOR KNITTED GARMENTS FOR INFANTS AND CHILDREN TO REPUTED INTERNATIONAL BRANDS AND RETAILERS WHY SPAL? • Expertise to concurrently manage multiple large orders with a diversified product range including body suits, sleep suits, tops and bottoms. • Ethically, Environmentally and Socially compliant organization. • No bulk returns from customers since inception. • Ability to offer end-to-end garments manufacturing services from the design to the manufacture of the garments. 16 STRATEGICALLY LOCATED & INTEGRATED MANUFACTURING FACILITIES INTEGRATED BUSINESS LOCATION ADVANTAGE: MODEL • All 18manufacturing facilities are located within a radius of ~125 km of our Registered Office near Product Development Tirupur (leading hub in India for knitted garments for children and exports) leading to significant economies of scale. Order • Convenient access to skilled labour and raw materials and alsoto machinery supplies and replacement parts. Spinning • Significant savings in production, labour and transportation costs. Knitting • Close proximity to international port. Dyeing TECHNOLOGY & AUTOMATION: Garmenting • Eton conveyor production system (automated sewing assembly line and workflow control). Export • ASRS* for efficient warehouse / inventory management. • Orgatexsoftware system for automation of dyeing related processes. * ASRS: Advanced semi-automated storage and retrieval system In-house 17 STRATEGICALLY LOCATED & INTEGRATED MANUFACTURING FACILITIES Spinning Dyeing 18 STRATEGICALLY LOCATED & INTEGRATED MANUFACTURING FACILITIES Printing Automated Embroidery Sewing Automated Sewing Assembly Line Semi-Automated Inventory Management 19 STRONG IN-HOUSE DESIGN EXPERTISE STRONG DESIGN IS SPAL’S CORE COMPETENCY • SPAL’s core competency lies in understanding latest fashion and trends to suit the customers buying preferences. • Dedicated in-house design and merchandising team of designers located at our Corporate Office in India and design consultants hired by our Subsidiary, SPUK. • Use of latest technology for developing products and styles which are based on prevalent fashion trends. • Design development, sampling and fitment form an integral part of our operations and are considered as an effective tool for converting customer’s need into a finished product. 20 STRINGENT QUALITY CONTROLS & COMPLIANCE • Strong adherence to the highest standards of quality, assurance and compliance. • Stringent quality control checks consisting of inspection and testing of fabric, greige and processed yarn, trims, accessories, packing materials and of each piece of garment for metal bits/needle tips/sharp edges prior to packing. • Exercise stringent Quality check at every stage of manufacturing. • All individual pieces of garments are also physically inspected to ensure that no defective/damaged pieces are delivered to our customers. • Internal rejection rate is low as compared to international standards. ACCREDITATIONS AND AWARDS FOR OUR MANUFACTURING FACILITY/ABILITY Received laboratory accreditation ISO/IEC 17025:2005 by the National Accreditation Board for Testing and Calibration Authorities, Department of Science and Technology, India TESCO ‘F&F Gold Rated Marks and Spencer Supplier Award’ 2013 award 2011 21 BUILDING RETAIL PRESENCE IN INDIA SPAL’s PRESENCE ACROSS LARGE FORMAT STORES 22 BUILDING RETAIL PRESENCE IN INDIA SPAL IS STRENGTHENING ITS RETAIL PRESENCE BY EXPANDING THE REACH OF CROCODILE BRAND OUR RETAIL STORE PRESENCE • SPAL undertakes manufacturing and retailing activities in India under the ‘Crocodile’ brand. • SPAL sells wide range of adult menswear products like shirts, polo shirts, t-shirts, trousers, jeans, sweaters, jackets and innerwear products like vests, briefs, boxer shorts. • In addition to EBOs and MBOs, we are also present in large format stores and e-commerce platforms. • Large format stores (LFS) –Central, Megamart, Centro, D Mart, Unlimited, Globus, Reliance Market, Walmart, Brand Factory. • E-Commerce platforms –Myntra, Jabong. SPAL –RETAIL OPERATIONS * 8.3% 9.6% 10.1% 9.3% 8.6% Retail Network Mar –21 817.8 776.3 EBOs–COCO 29 646.2 541.7 395.04 EBOs –FOFO 14 MBOs 4,200 LFS 362 FY17 FY18 FY19 FY20 FY21 No.of States 22 Retail Revenues (Rs Mn) % Share of Total Revenues Outlet Size (Sq. ft) 400–1,500 * Figures are as per I-GAAP for FY15-16 and IND-AS for FY17-21 23 QUALIFIED MANAGEMENT WITH DEEP UNDERSTANDING OF APPAREL SECTOR MrP.Sundararajan ` Ms S. Latha MrS.Chenduran ChairmanandManaging Director Executive Director Director • Six yearsofexperienceinthetextile • Founder director of SPAL with 35 Founder director of SPAL with 28 years andapparelindustry years of experience in the textile of experience in the textile and apparel andapparelindustry industry • MSinBusinessandManagement fromtheUniversityofStrathclyde • BachelorofSciencefromthe BangaloreUniversity Ms P.V. Jeeva,ChiefExecutive Officer Mr V. Balaji, ChiefFinance Officer • 34 years of experience in the textile and • 20 yearsofexperienceinthefieldoffinance apparelindustry andaccounts • Handles garments division and has been • AssociatedwithSPALsinceMay2012 associatedwithSPALsinceJuly,1986 • QualifiedCharteredAccountant • Diploma in textile processing from GRG • Helpedinmanagingbankingrelationshipsto PolytechnicCollege,Coimbatore aidthegrowth oftheCompany 24 BOARD OF DIRECTORS – WIDE SPECTRUM OF EXPERIENCE Mrs H .Lakshmi Priya MrA.S.Anandkumar IndependentDirector IndependentDirector • 47 yearsofexperienceinbanking • 20+years ofexperienceincorporate advisory, contract documentation, private equity & venture capital • MastersofSciencefromtheUniversityof Madras • BA, LLB (Hons) from National las School of India University, Bangalore in 1996 and is a member of the Bar council of Maharashtra and Goa since 1999 Mr C. R. Rajagopal Mr V. Sakthivel Independent Director Independent Director • Core areas of expertise -finance, private • 44yearsofexperienceinthefieldsof equity, mergers, acquisitions and commerceandaccountancy reorganisations • QualifiedCharteredAccountantand • Chartered Accountant having 35+years CertifiedI.S.Auditor ofexperience 25 Q4 & FY21 Results Update Company Overview FINANCIAL OVERVIEW & SHAREHOLDING STRUCTURE FINANCIAL OVERVIEW In Rs Million REVENUES Adj. EBITDA & EBITDA MARGIN PAT Before MI & PAT MARGIN 9.1% 8,264 8,090 15.3% 16.4% 5.6% 6.6% 6,523 10.8% 734 1,238 1,072 895 469 432 FY19 FY20 FY21 FY19 FY20 FY21 FY19 FY20 FY21 *Excludes exceptionalitemof write-offofamountconsideredrecoverablefromabankonaccountofmaturedforeigncurrencycontractsasofApril1,2011 LEVERAGE ANALYSIS RETURN METRICS 0.31 0.26 0.20 19.3% 16.9% 15.5% 14.1% 4,839 5,232.2 5,583.9 11.3% 9.3% 1,477 1,381 1,136 FY19 FY20 FY21 FY19 FY20 FY21 Equity Net Debt Net Debt/Equity ROE % Cash Adjusted ROCE% Net Debt = Total Debt –Cash & Current Investments, For FY 20 Long term debt includes right to use property obligation close to Rs. 360 Mn ROE = PAT before MI / Avg. Equity (Excl. preference shares) + MI (based on cash adjusted PAT) 27 Cash Adj. ROCE = EBIT / Avg. Capital Employed (excl. cash & current investments), DIVISION-WISE EBITDA PERFORMANCE In Rs Million GARMENT DIVISION 20.9% 21.0% 20.2% 17.6% 12.0% 6805.0 7026.4 5955.1 5733.7 5368.7 1244.4 1202.4 1194.4 842.6 1083.3 FY17 FY18 FY19 FY20 FY21 Garment Revenue Garment EBITDA Adj. EBITDA Margin (%) RETAIL DIVISION SPUK 5.6% 5.3% 3.6% 4.4% 3.5% 3.7% 768.1 2.1% 0.2% 481.8 506.6 817.8 776.3 646.2 353.6 541.7 395.0 -11.6% 128.7 -13.1% 23.2 17.0 33.8 0.2 12.5 27.0 18.9 40.6 FY1-672.9 FY18 FY19 FY20 FY2-511.9 FY17 FY18 FY19 FY20 FY21 Retail Revenue Retail EBITDA EBITDA Margin (%) SPUK Revenue SPUK EBITDA EBITDA Margin (%) 28 SHAREHOLDING STRUCTURE SHAREHOLDING PATTERN – 31st March 2021 KEY SHAREHOLDERS – 31st March 2021 DSP Mutual Fund 6.16% Non-Institutions 23.6% UTI Mutual Fund 5.18% Promoters 61.7% ICICI Prudential Mutual Fund 3.39% Institutions 14.8% Source: BSE 29 FOR FURTHER QUERIES: Mr. V. Balaji Chief Financial Officer Email: balaji.v@spapparels.com Ms.PushpaMani /Mr. Chintan Mehta IR Consultant Email: s.p.apparels@dickensonworld.com Contact no: +91 9911684123/ 9892183389