Vaibhav Global Ltd. · NSE:VAIBHAVGBL
Vaibhav Global — Q4 FY2021 Earnings Presentation
35 slides from Vaibhav Global's earnings presentation, May 13, 2021
Slide 1: Filing cover letter: Financial Results Presentation Q4 & FY2021
VAIBHAV GLOBAL LIMITED Ref: VGL/CS/2021/60 Date: 12th May, 2021 National Stock Exchange of BSE Limited India Limited (NSE) Phiroze JeejeeBhoy Towers, Exchange Plaza, C‐1, Block G, Dalal Street, Bandra Kurla Complex, Mumbai – 400 001 Bandra, Mumbai – 400 051 Scrip Code: 532156 Symbol: VAIBHAVGBL Subj
Slide 2: Financial Results Presentation Q4 & FY21
Vaibhav Global Limited Financial Results Presentation Q4 & FY21 Global Retailer of Fashion Jewellery, Accessories, and Lifestyle Products on Home Shopping TV and e-Commerce Platforms
Slide 3: Safe Harbor
Safe Harbor This presentation contains “forward looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Vaibhav Global Limited (VGL) and its affiliated companies’ future business developments and econ
Slide 4: MD's Message
MD’s Message “The last financial year has been a period of unprecedented challenges. Globally, people have been confined to their homes, mobility severely restricted, increasing their propensity to look for new and innovative shopping experiences. While many established businesses and markets have s
Slide 5: Covid-19: Continuous Response
Covid-19: Continuous Response Covid-19 Response Employees Investors Customers Supply Chain Community ▪ ‘Borderless workforce’ ▪ Sustained focus on a ▪ Continued retail operations ▪ Temporary shutdown in ▪ Donated ~2,64,000 masks with no latency healthy Balance Sheet in US & UK operations balanced by
Slide 6: Q4FY21 – Key Highlights
Q4FY21 – Key Highlights ` Robust 33% Y-o-Y growth in retail revenues (FY21 31% Y-o-Y ) EBITDA grew by a strong 41% Y-o-Y, margin expanded 70 bps to 12.8%. (FY21 40% Y-o-Y) Further improvement in return ratios with ROCE expanded to 61%(TTM basis) FY21 Free Cash Flows enhanced to Rs. 268 crore Recomme
Slide 7: Table of Contents
TABLE OF CONTENTS 1 Business Background Details 2 Q4 & FY21 Financial Performance 3 Financial Performance Trends 4 Annexures RESULTS PRESENTATION - MAY 2021
Slide 8: Business Background Details
Business Background Details RESULTS PRESENTATION - MAY 2021
Slide 9: Vaibhav Global Limited (VGL) at a Glance
Vaibhav Global Limited (VGL) at a Glance VISION MISSION Be the Value Leader in To deliver one million meals Electronic Retailing of per day to children in need Jewellery & Lifestyle by 'FY31' through our one Products for one meal program : your purchase feeds... CORE VALUES Team-Work Honesty Passion
Slide 10: Our Global Presence
Our Global Presence Retail Markets Shop LC (US) | Shop TJC (UK) UK Sourcing ▪ India ▪ UK ▪ China ▪ Mozambique US ▪ Thailand ▪ Germany China ▪ Indonesia ▪ Italy ▪ Tanzania ▪ Turkey ▪ Russia ▪ Poland ▪ Morocco ▪ Singapore India ▪ Myanmar ▪ UAE ▪ Madagascar ▪ Japan ▪ Bolivia ▪ Bangladesh ▪ Kenya ▪ Phil
Slide 11: Vertically-integrated fashion retailer
▪ End-to-end B2C business model Vertically- Shop LC (US) & ▪ Presence on integrated Shop TJC (UK) ▪ TV Homes accessed (*FTE) - 104 million o Proprietary TV home-shopping fashion retailer are brands with ▪ Growing online presence o Proprietary e-commerce platforms on electronic strong customer ▪ Impr
Slide 12: 4R's of Customer Engagement
4R’s of Customer Engagement TV – Diverse Products Enduring relationships Linear / OTA Expanding wallet share Web - Deep value proposition Convenience Browsers / Mobile Apps / Cross-selling Social Media / Market-places / OTT Engrossing Content Digitalization/AI Reach Registrations Retention Repeat Pu
Slide 13: Our Omni-Channel Sales Platform – Shop LC (US)
Our Omni-Channel Sales Platform Shop LC (US) Shop LC Proprietary TV channels – 79 mn HH including Shop LC live TV stream on shoplc.com, YouTube, 17.9 mn OTA* HH* Facebook and Amazon Live TV Proprietary web Shop LC mobile app Social retail of targeted platform available on Marketplaces products on Go
Slide 14: Our Omni-Channel Sales Platform – Shop TJC (UK)
Our Omni-Channel Sales Platform Shop TJC (UK) Shop TJC Proprietary TV channels – 25 mn HH Shop TJC live TV stream available on tjc.co.uk, including 17 mn OTA* HH* YouTube and Facebook TV Shop TJC mobile app Social retail of targeted Proprietary web platform available on Marketplaces products on www.
Slide 15: Business Transition Dashboard
Business Transition Dashboard B2C Revenues by format B2C Revenues by product category TV revenues Web revenues Jewellery Non-jewellery revenues 19% 9% 22% 33% 36% 31% 81% 91% 78% 67% 64% 69% FY15-16 FY19-20 FY20-21 FY15-16 FY19-20 FY20-21 61% of web revenues in FY21 were from Mobile platform Jewelle
Slide 16: Q4 & FY21 Financial Performance
Q4 & FY21 Financial Performance RESULTS PRESENTATION - MAY 2021
Slide 17: Financials – Q4 & FY21 Performance: Revenue Breakdown
Financials – Q4 & FY21 Performance Revenue Breakdown – (Rs. crore) Revenue 28.0% 2,540 1,986 33.7% 498 666 Q4 FY20 Q4 FY21 FY20 FY21 Fashion Jewelry, Accessories & Lifestyle Products TV Revenue 24.9% Web Revenue 43.6% B2B Revenue 1606 909 69 1285 633 27.9% 43.2% 62.9% 115.6% 25 326 417 242 1
Slide 18: Revenue Breakdown – Local Currency
Financials – Q4 & FY21 Performance Revenue Breakdown – (Local Currency) Shop LC (US) Shop TJC (UK) (USD million) 22.2% (GBP million) 234.9 31.6% 80.2 192.2 60.9 28.7% 35.0% 62.7 20.1 48.7 14.9 Q4 FY20 Q4 FY21 FY20 FY21 Q4 FY20 Q4 FY21 FY20 FY21 RESULTS PRESENTATION - MAY 2021 17
Slide 19: Retail Performance Trends – Q4 & FY21
Retail Performance Trends – Q4 & FY21 Volume and ASP TV Sales Sales Volume ('000s) Average Selling Price US$ 7,837 6,070 29.5 27.9 29.9 27.7 2,050 1,529 Q4 FY20 Q4 FY21 FY20 FY21 Q4 FY20 Q4 FY21 FY20 FY21 Web Sales Sales Volume ('000s) Average Selling Price US$ 5,409 4,113 24.6 22.7 21.9 21.7 1,067
Slide 20: Financials – Q4 & FY21 Performance: Profits
Financials – Q4 & FY21 Performance Profits – (Rs. crore) Gross Profit EBITDA Gross EBITDA 12.1% 12.8% 13.9% 15.3% Margin (%) 60.4% 61.2% 61.6% 62.3% Margin (%) 29.3% 40.4% 388 1,583 1,224 276 35.3% 41.3% 60 85 301 407 Q4 FY20 Q4 FY21 FY20 FY21 Q4 FY20 Q4 FY21 FY20 FY21 PAT EPS (Rs.) PAT Margin (
Slide 21: Financial Performance Trends
Financial Performance Trends RESULTS PRESENTATION - MAY 2021
Slide 22: Financial Performance Trends: Revenue Breakdown
Financial Performance Trends Revenue Breakdown – (Rs. crore) Revenue 27.9% CAGR: 14.8%* 2,540 1,814 1,986 1,436 1,571 1,276 FY16 FY17 FY18 FY19 FY20 FY21 Fashion Jewelry, Accessories & Lifestyle Products TV Revenue Web Revenue 43.6% B2B Revenue 24.9% 909 CAGR: 11.5% 1,606 CAGR: 32.4% CAGR: -26.9%
Slide 23: Retail Performance Trends
Retail Performance Trends Volume and ASP TV Sales Sales Volume ('000s) Average Selling Price US$ 7,837 29.9 6,275 27.0 26.4 27.7 5,854 5,877 5,737 6,070 24.4 24.9 FY16 FY17 FY18 FY19 FY20 F21 FY16 FY17 FY18 FY19 FY20 FY21 Web Sales Sales Volume ('000s) Average Selling Price US$ 5,409 20.7 21.7 22.7
Slide 24: Financial Performance Trends: Profits
Financial Performance Trends Profits – (Rs. crore) Gross Profit EBITDA Gross EBITDA 63.0% 60.1% 59.6% 62.5% 61.6% 62.3% 5.9% 7.1% 10.1% 12.0% 13.9% 15.3% Margin (%) Margin (%) 1,583 40.4% CAGR: 38.9% 1,133 1,224 388 865 936 276 804 217 159 75 102 FY16 FY17 FY18 FY19 FY20 FY21 FY16 FY17 FY18 FY19 FY
Slide 25: Financial Performance Trends: Balance Sheet
Financial Performance Trends Balance Sheet – (Rs. crore) Shareholders’ Equity Fixed assets including intangibles **964 ** 192 697 ** 751 ** 163 550 129 126 120 117 379 434 FY16 FY17 FY18 FY19 FY20 FY21 FY16 FY17 FY18 FY19 FY20 FY21 Net Debt Net Assets *** 55 6 417 399 ** 394 **395 (13) 314 305 (181)
Slide 26: Financial Performance Trends: Cash Flow
Financial Performance Trends Cash Flow – (Rs. Crore) Operating Cash flow Free Cash Flow 324 268 181 176 203 211 127 101 70 52 38 20 (28) (77) FY16 FY17 FY18 FY19 FY20 Q4FY21 FY21 FY16 FY17 FY18 FY19 FY20 Q4FY21 FY21 RESULTS PRESENTATION - MAY 2021 25
Slide 27: Financial Performance Trends: Key Ratios
Financial Performance Trends Key Ratios ROE (TTM) ROCE (TTM) 32% 61% 26% 25% 23% 46% 37% 16% 27% 12% 18% 13% FY16 FY17 FY18 FY19 FY20 FY21 FY16 FY17 FY18 FY19 FY20 FY21 Note - ROE – based on average net worth ROCE – based on average capital employed RESULTS PRESENTATION - MAY 2021 26
Slide 28: Annexures
Annexures RESULTS PRESENTATION - MAY 2021
Slide 29: Growth in Digital Commerce
Growth in Digital Commerce Industry US Retail & E-com Sales UK Retail & E-Com Sales Retail Sales ($ Tn) E-com as % of Retail Sales Retail Sales (£ Bn) E-com as % of Retail Sales 5.4 5.6 5.2 5.0 14.0% 439.6 436.6 4.8 423.7 405.7 387.6 27.9% 11.0% 9.9% 19.1% 9.1% 17.9% 8.2% 16.2% 14.5% 2016 2017 2018
Slide 30: Robust Corporate Governance
Robust Corporate Governance FY21 Rs. 81cr 30% of Free Cash Flow FY20 Dividend (including final dividend) 30% of Profit After Tax Dividend Payout Policy Rs.181cr ◊ 20-30% of consolidated free cash flow Pay-out to shareholders (103% of FCF, 95% of ◊ Higher payout in special circumstances PAT) ◊ Balanc
Slide 31: Environment Initiatives
Environment Initiatives Reduce, ENERGY Recycle, Reuse BIODIVERSITY and Reclaim in • Accelerated efforts to enhance the green coverage • 3.23 MW solar power capacity in India - Capacity at our plants and surroundings addition of 2.85 MW undertaken in FY21 operations • In FY21, planted ~1,100 trees, t
Slide 32: Community Giveback
Community Giveback • Served over 51 million meals to underprivileged children through its flagship One for One Program which is now known as Your Purchase Feeds • Your Purchase Feeds continues to deliver a meal with every purchase • Continue to widen the reach through registered charity partners whi
Slide 33: VGL Shareholder Base – As on 31-March-2021
VGL Shareholder Base – As on 31-March-2021 Holding as on Shareholding Pattern Key Shareholders (Holding 1%+) 31-March-21 Others Individual - >1% 3.31% 7.10% Promoter & Promoter Group 58.35% AIF 1.36% Nalanda India Fund Limited (FII) 10.33% Domestic Institutions (MF) Motilal Oswal Multicap 35 Fund (M
Slide 34: Management Team
Management Team Mr. Sunil Agrawal Mr. Vineet Ganeriwala Mr. Amit Agarwal Mr. Srikant Jha Managing Director, VGL Group CFO, VGL Group President, Shop LC (US) Managing Director, Shop TJC (UK) Mr. Jay Chandran Mr. Raj Singh Mr. Pushpendra Singh Mr. Deepak Mishra Chief Technology Officer, Vice President
Slide 35: Thank You
THANK YOU For more information please contact: Vaibhav Global Limited Vineet Ganeriwala, Group CFO Dipti Rajput, Head-IR Vineet@vglgroup.com Dipti.Rajput@vglgroup.com +91-141-2771975 +91-9116653352