V-mart Retail Ltd · NSE:VMART
V-mart Retail — Q3 FY2020 Earnings Presentation
24 slides from V-mart Retail's earnings presentation, Feb 5, 2020
Slide 1: Exchange cover letter: presentation to analysts/investors
v s" 5th February, 2020 MART PRICE PRICE "LESS" "LESS" FASHION FASHION Ref. Ref. No. CS/S/L-400/2019-20 CS/S/L-400/2019-20 s To, To: To: The Listing Listing Department Department The Corporate Corporate Relationship Relationship Department Department NATIONAL NATIONAL STOCK STOCK EXCHANGE EXCHANGE O
Slide 2: V-Mart Retail Ltd. Review of Financial Results Q3 FY'20
www.vmartretail.com V-Mart Retail Ltd. Review of Financial Results Q3 FY’20
Slide 3: 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
Slide 4: Apr-Dec FY'20 (YTD) Key Highlights
Apr-Dec FY’20 (YTD) Key Highlights Financial Parameters Operational Parameters 3
Slide 5: Key Highlights: Apr-Dec FY'20 vs. FY'19 Results
Key Highlights: Apr-Dec FY’20 vs. FY’19 Results • Number of Stores increases to 257 (add : 46, close : 03) • Revenue grows by 22% • Same Store Sales growth : Company 2%, Volume (1%) • Sales per sq. feet (per month) : Rs. 804 • Contribution of segment to total revenue : o Fashion 93% o Kirana 7% • Ne
Slide 6: Financial Parameters: Apr-Dec FY'20 vs FY'19
Financial Parameters : Apr-Dec FY’20 vs FY’19 Sales (Millions) Sales Mix (%) 13,294 79.8% 79.6% 10,892 13.0% 13.6% 7.2% 6.8% YTD'20 YTD'19 Apparels Non Apparels Kirana EBITDA (Millions) PAT (Millions) 1,859 578 625 1,151* YTD'20 YTD'19 YTD'20 YTD'19 Note : FY’20 numbers are adjusted on account of IN
Slide 7: Operational Parameters: Apr-Dec FY'20 vs FY'19
Operational Parameters : Apr-Dec FY’20 vs FY’19 FootFall (Lacs) Conversion Rate (%) 311 58.3% 58.6% 266 YTD'20 YTD'19 YTD'20 YTD'19 Transaction size (Rs.) Average Selling Price (Rs) Total Apparel 330 316 790 756 218 202 YTD'20 YTD'19 YTD'20 YTD'19 CY PY 6
Slide 8: Operational Parameters: Apr-Dec FY'20 vs FY'19
Operational Parameters : Apr-Dec FY’20 vs FY’19 Sales per sq feet (per month) Store Count (Nos) 138 Tier 1 Tier 2 Tier 3 Tier 4 804 834 124 55 33 31 33 19 24 YTD'20 YTD'19 YTD'20 YTD'19 Same Store Sales Growth (%) Same Store Volume Growth (%) 3.7% 9.5% 2.2% -1.1% YTD'20 YTD'19 YTD'20 YTD'19 CY PY 7
Slide 9: Operational Parameters: Apr-Dec FY'20 vs FY'19
Operational Parameters : Apr-Dec FY’20 vs FY’19 Expenses (% of Sales) Retail Space (Lacs Sq feet) 8.8% 8.5% 21 17 4.5% 3.1% 3.2% 3.8% 3.6% 2.2% 2.4% 0.6% 0.7% 0.6% Manpower Rent Power Advertisement Packing Others YTD'20 YTD'19 Inventory (Days of Sales) Shrinkage (% of Sales) Total Apparel Non Appare
Slide 10: Q3 FY'20 (QTR) Key Highlights
Q3 FY’20 (QTR) Key Highlights Financial Parameters Operational Parameters 9
Slide 11: Key Highlights: Q3 FY'20 vs FY'19 Results
Key Highlights: Q3 FY’20 vs FY’19 Results • Revenue grows by 21% • Same Store Sales growth : Company 1%, Volume (3%) • Sales per sq. feet (per month) : Rs. 941 • Stores count increases to 257 (add : 19 close : 1) • Contribution of segment to total revenue o Fashion 93% o Kirana 7% • Net profit of Rs
Slide 12: Financial Parameters – Q3 FY'20 vs FY'19
Financial Parameters – Q3 FY’20 vs FY’19 Sales (Millions) Sales Mix (%) 5,622 79.4% 79.9% 4,658 14.0% 13.9% 6.6% 6.2% Q3'20 Q3'19 Apparels Non Apparels Kirana EBITDA (Millions) PAT (Millions) 1,168 582 733 417 Q3'20 Q3'19 Q3'20 Q3'19 Note : FY’20 numbers are adjusted on account of IND-AS 116 CY PY 1
Slide 13: Operational Parameters – Q3 FY'20 vs FY'19
Operational Parameters – Q3 FY’20 vs FY’19 FootFall (Lacs) Conversion Rate (%) 115 59.5% 56.5% 100 Q3'20 Q3'19 Q3'20 Q3'19 Transaction size (Rs.) Average Selling Price (Rs) Total Apparel 436 436 884 882 266 251 Q3'20 Q3'19 Q3'20 Q3'19 CY PY 12
Slide 14: Financial Review
Financial Review Ind-AS 116 : P&L Impact Profit & Loss Statement Balance Sheet and CFS 13
Slide 15: Ind-AS 116 – Leases
Ind-AS 116 – Leases Introduction MCA has mandated a new Accounting Standard IND-AS 116 for Accounting for Leases with effect from April 1, 2019 Impact • Requires lessee to recognize on Balance Sheet measured at present value of minimum lease payments to be made over the lease period, as Right of Use
Slide 16: Ind-AS 116: P&L Impact (YTD FY'20)
Ind-AS 116 : P&L Impact (YTD FY’20) (` in million, unless stated otherwise) Ind-AS 1 16 Adjustments to increase / (decrease) in PAT Reported FY'20 Comparable FY'20 adjustment Revenue 13,294 (7) 13,301 Rent 73 (608) 681 Total Other expenses (incl. Rent) 1,380 (608) 1988 Finance cost 409 382 27 Deprec
Slide 17: Ind-AS 116: P&L Impact (Q3 FY'20)
Ind-AS 116 : P&L Impact (Q3 FY’20) (` in million, unless stated otherwise) Ind-AS 1 16 Adjustments to increase / (decrease) in PAT Reported Q3’20 Comparable Q3'20 Adjustment Revenue 5,622 (3) 5,625 Rent 23 (226) 249 Total Other expenses (incl. Rent) 467 (226) 693 Finance cost 158 141 17 Depreciation
Slide 18: Financial Review – Profit & Loss Statement
Financial Review – Profit & Loss Statement ` in million (except per share data) For the period ended Particulars 31.12.2019 31.12.2018 (Unaudited) (Unaudited) I. Revenue from operations 13,294 10,892 II. Other income 37 37 III. Total Revenue (I + II) 13,331 10,929 IV Total Expenses (IV) 12,531 9,982
Slide 19: Financial Review - Balance Sheet and CFS
Financial Review - Balance Sheet and CFS (` in million, unless stated otherwise) V-Mart Retail Limited Balance Sheet as at December 31, 2019 V-Mart Retail Limited (All amounts in Rs Lakhs, except for share data, per share data and unless otherwise stated) As at 31 December. 2019 As at 31 March. 2019
Slide 20: Stores Geographic Spread & Sales Promotions Q3 FY'20
Stores Geographic Spread & Sales Promotions Q3 FY’20 19
Slide 21: Stores Geographical Spread
Stores Geographical Spread States Total Assam 9 Bihar 45 Chandigarh 1 Delhi 3 Gujarat 6 Haryana 1 J&K 8 Jharkhand 19 MP 14 Meghalaya 1 Odisha 9 Punjab 4 Rajasthan 11 UP 97 Uttarakhand 8 Stores opened till FY19 214 West Bengal 16 Stores Opened during FY20 46 Nagaland 1 Stores closed during FY20 03 Ar
Slide 22: New Stores Addition
New Stores Addition State No. of stores Retail Space (Sq ft) Arunachal Pradesh 1 13,300 Bihar 1 8,809 Delhi 1 6,656 Jammu & Kashmir 2 19,217 Madhya Pradesh 3 18,854 Rajasthan 4 30,294 Uttar Pradesh 7 55,645 21
Slide 23: Promotions & Campaigns – Q3 FY'20
Promotions & Campaigns – Q3 FY’20 Campaign Period Diwali October Karwachauth October Chath October Lucky Draw November Christmas December 22
Slide 24: Thank You
www.vmartretail.com Thank You In case of any queries, please contact the IR Team: Girish Garg - girish.garg@vmart.co.in