V-mart Retail Ltd · NSE:VMART
V-mart Retail — Q2 FY2025 Earnings Presentation
28 slides from V-mart Retail's earnings presentation, Oct 29, 2024
Slide 1: Cover letter to stock exchanges: Presentation to Analysts/Investors
Ref. No. CS/S/L-815/2024-25 29th October, 2024 To: To: The Listing Department The Corporate Relationship Department NATIONAL STOCK EXCHANGE OF INDIA LIMITED THE BSE LTD “Exchange Plaza” Phiroze Jeejeebhoy Towers, Bandra Kurla Complex, Dalal Street, Mumbai – 400 001 Bandra (E ), Mumbai – 400 051 Scri
Slide 2: V-Mart Retail Limited Investor Presentation Q2FY25
V-Mart Retail Limited Investor Presentation Q2FY25 www.vmartretail.co.in / www.limeroad.com
Slide 3: Disclaimer
This presentation by V-Mart Retail Limited (“V-Mart”) does not constitute a prospectus, placement memorandum, or an offer to acquire any securities. It should not be deemed an offer in any form. No representation or warranty, express or implied, is made regarding the fairness, accuracy, completeness
Slide 4: Q2FY25 Key Performance Highlights
Q2FY25 Key Performance Highlights Financial Parameters Operational Parameters
Slide 5: Key Highlights: Q2FY25 vs. Q2FY24
Key Highlights: Q2FY25 vs. Q2FY24 ▪ Revenue Growth : 20% YoY ▪ Memo Growth 20% YoY ▪ Same Store Sales Growth : 15% (V-Mart: 16%, Unlimited: 11%) ▪ Revenue Channel Mix • V-Mart : 81% (Sale growth +27% YOY) • Unlimited : 17% (Sale growth +8% YOY) • LimeRoad : 2% (commission revenue) ▪ Total Stores : 4
Slide 6: Financial Parameters
Financial Parameters Revenue (₹ Millions) Revenue Mix (%) Q2FY24 Q2FY25 20%▲ Q2FY24 Q2FY25 76% 76% 27%▲ 6,610 5,494 5,371 4,228 8%▲ 53%▼ 1,047 1,134 10% 11% 14% 13% 219 104 Total V-Mart Unlimited LimeRoad Apparel Non-Apparel FMCG LimeRoad Net Merchandise Value : ₹ 281 Million (Q2FY24 : ₹ 538 Million
Slide 7: Operational Parameters
Operational Parameters Same Store Sales Growth (SSSG) (%) Same Store Volume Growth (SSVG) (%) Q2FY24 Q2FY25 Q2FY24 Q2FY25 15% 16% 11% 12% 11% 6% 7% 7% 6% -6% -5% -8% Total V-Mart Unlimited Total V-Mart Unlimited Footfall (Millions) and Conversion Rate (%) Average Selling Price (ASP) (₹) 2%▼ 0%▼ Foot
Slide 8: Apr – Sep FY25 Key Performance Highlights
Apr – Sep FY25 Key Performance Highlights Financial Parameters Operational Parameters
Slide 9: Key Highlights: YTDFY25 vs. YTDFY24
Key Highlights: YTDFY25 vs. YTDFY24 ▪ Revenue Growth : 18% YoY ▪ Memo Growth 20% YoY ▪ Same Store Sales Growth : 13% (V-Mart: 14%, Unlimited: 9%) ▪ Revenue Channel Mix • V-Mart : 82% (Sale growth +23% YOY) • Unlimited : 16% (Sale growth +6% YOY) • LimeRoad : 2% (commission revenue) ▪ Total Stores :
Slide 10: Financial Parameters
Financial Parameters Revenue (₹ Millions) Revenue Mix (%) 18%▲ YTDFY24 YTDFY25 23%▲ 79% 79% YTDFY24 YTDFY25 14,471 12,280 11,872 9,652 6%▲ 44%▼ 2,235 2,379 393 220 9% 10% 12% 11% Total V-Mart Unlimited LimeRoad Apparel Non-Apparel FMCG LimeRoad Net Merchandise Value : ₹ 291 Million (Q1FY24 : ₹ 445 M
Slide 11: Operational Parameters
Operational Parameters Footfall Conversion Rate (%) YTDFY24 YTDFY25 YTDFY24 YTDFY25 53% 47%▲ 34 45% 23 YTDFY24 YTDFY25 YTDFY24 YTDFY25 Average Transaction Size (₹) Average Selling Price (ASP) (₹) 4%▼ 4%▼ YTDFY24 YTDFY25 11%▼ 0%▼ 1%▲ 1,947 3%▲ 0%▲ 1,730 5%▲ 3%▲ 1,001 1,001 899 923 214 195 416 325 305
Slide 12: Operational Parameters
Operational Parameters Store Count (Nos) Tier Wise Sales per square feet (Per Month) (₹) YTDFY24 YTDFY25 7%▲ YTDFY24 YTDFY25 14%▲ 16%▲ 13%▲ 437 467 9%▲ 22%▲ 13%▲ 645 708 567 609 567 619 630 578 559 2%▼ 4%▲ 220 248 4%▲ 475 109 107 Tier 3 53 55 55 57 Tier 1 Tier 2 Tier 4 Tier 1 Tier 2 Total Tier 1 Tie
Slide 13: Operational Parameters
Operational Parameters Same Store Sales Growth (SSSG) (%) Same Store Volume Growth (SSSV) (%) YTDFY24 YTDFY25 YTDFY24 YTDFY25 14% 13% 14% 9% 9% 9% 9% 5% 4% -4% -3% -10% Total V-Mart Unlimited Total V-Mart Unlimited Inventory (Days of Sales) Provision for aged Inventory including shrinkage YTDFY24 YT
Slide 14: Operating Expenses
Operating Expenses Manpower (₹ Millions) Power & fuel (₹ Millions) 19%▲ 25%▲ 5%▲ 1,706 10%▲ 1,429 1,318 610 643 1,054 6%▲ 474 522 3%▼ 11%▼ 7%▲ 248 264 127 124 135 120 1 1 * Total V-Mart Unlimited LimeRoad Total V-Mart Unlimited LimeRoad YTDFY24 YTDFY25 YTDFY24 YTDFY25 Advertisement (₹ Millions , % t
Slide 15: LimeRoad: Fashion That Inspires
HASSLE- Ag FREE RETURNS Easy One Day Refunds LimeRoad FASHION THAT INSPIRES Hand-picked BY EDITORS
Slide 16: Limeroad: Expanding Omni, Reducing burn
Limeroad: Expanding Omni, Reducing burn NMV and Revenue* (₹ Millions) Synergies : V-Mart stores integration 87% 600 43% 44% 43% 71% 500 42% 42% 42% 43% 400 42% 42% 46% 300 40% 312 445 41% 28% 31% 200 41% 40% 100 535 216 408 172 362 152 286 116 281 104 40% 0 39% Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Sep
Slide 17: LimeRoad is extending our total combined addressable market
LimeRoad is extending our total combined addressable market by targeting a fashion- forward audience 16
Slide 18: Q2 FY25 Statement of Profit & Loss, Segments, Balance Sheet, Cash Flow
Q2 FY25 Statement of Profit & Loss Key Business Segments Balance Sheet Cash flow Statement 17
Slide 19: Statement of Profit & Loss
Statement of Profit & Loss ₹ Millions Post Ind AS 116 Pre Ind AS 116 Particulars YTD FY25 YTD FY24 YOY YTD FY25 YTD FY24 YOY (Unaudited) (Unaudited) % Change (Unaudited) (Unaudited) % Change Revenue from operations 14,471 12,280 18% 14,471 12,280 18% COGS 9,483 7,951 9,483 7,951 Gross Profit 4,988 4
Slide 20: Ind-AS 116: P&L Impact
Ind-AS 116 : P&L Impact ₹ Millions YTD FY25 YTD FY24 Pre Ind-AS Increased / Post Ind-AS Pre Ind-AS Increased / Post Ind-AS Particulars (impact on PBT) 116 (decreased) 116 116 (decreased) 116 (A) (B) C = (A+B) (C) (D) E = (C+D) Other Expense (Rent impact) 3,029 -1,123 1,906 3,364 -995 2,369 EBITDA 25
Slide 21: Segment Reporting
Segment Reporting ₹ Millions For the period ending As at Particulars September 30, 2024 September 30, 2023 Particulars September 30, 2024 September 30, 2023 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Segment Revenue Segment Asset Retail Trade (V-Mart + Unlimited) 14,251 11,887 Retail Trade (V-M
Slide 22: Balance Sheet
Balance Sheet As At As At ₹ Millions Particulars September 30, 2024 March 31, 2024 Particulars September 30, 2024 March 31, 2024 (Unaudited) (Audited) (Unaudited) (Audited) EQUITY AND LIABILITIES ASSETS Equity Property, plant and equipment 5,095 4,898 Equity Share Capital 198 198 Capital work in pro
Slide 23: Cash Flow Statement
Cash Flow Statement ₹ Millions Cash Flow Statement for the For the period ending period September 30, 2024 September 30, 2023 (Unaudited) (Unaudited) For the period ending Free Cash Flow for the period September 30, 2024 September 30, 2023 (A) Cash flows from operating activities Profit before Incom
Slide 24: Q2 FY25 Store Geographical Spread, Other Significant Updates
Q2 FY25 Store Geographical Spread Other Significant Updates 23
Slide 25: Cluster Based Expansion - New Stores Additions (Q2 FY25)
Cluster Based Expansion - New Stores Additions (Q2 FY25) Total 21 Andhra Pradesh 2 Assam 2 Bihar 1 Delhi 2 1 +1 Karnataka 2 Odisha 2 4 +2 2 Telangana 1 +2 1 Tripura 2 +1 +1 Uttar Pradesh 4 2 Uttarakhand 1 West Bengal 2 2 Closed 2 stores & opened 21 stores in Q2 1 +1 Total 21 2 Tier 1 3 2 +1 Tier 2 2
Slide 26: Total Stores as on September 30, 2024
Total Stores as on September 30, 2024 STATE FY25 FY24 8 UTTAR PRADESH 143 135 BIHAR 62 59 1 TAMIL NADU 29 26 5 RAJASTHAN 28 24 1 JHARKHAND 26 24 4 WEST BENGAL 22 19 1 KARNATAKA 17 19 5 28 143 14 MADHYA PRADESH 16 19 2 UTTARAKHAND 16 14 1 TELANGANA 15 17 2 22 ASSAM 14 14 1 12 ANDHRA PRADESH 12 12 GUJ
Slide 27: New Stores Opened in Q2
New Stores Opened in Q2 26
Slide 28: Thank you!
Thank you! In case of any queries, please contact the IR Team: ir_vmart@vmartretail.com