Vaibhav Global Ltd. · NSE:VAIBHAVGBL
Vaibhav Global — Q1 FY22 Earnings Presentation
33 slides from Vaibhav Global's earnings presentation, July 2021
Slide 1: Q1 FY22 Financial Results Presentation
Global Retailer of Fashion Jewellery, Accessories and Lifestyle Products on Home Shopping TV and e-Commerce Platforms DELIVERING JOY Vaibhav Global Limited Q1 FY22 - Financial Results Presentation
Slide 2: Safe Harbour
Safe Harbour 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 eco
Slide 3: MD's Message
Commenting on Q1 FY22 Performance "We are pleased to start the year on a strong note with robust performance in Q1. Retail revenues improved by 22.8% and EBITDA increased by 26.2% YoY. This growth came on the back of deep value proposition, expanding product portfolio, and growing presence on variou
Slide 4: Q1FY22 – Key Highlights
Q1FY22 – Key Highlights ` Robust 22.8% Y-o-Y growth in retail revenues EBITDA grew by a strong 26.2% Y-o-Y (excluding Germany: 34.2%); margins improved 30 bps to 14.4% Y-o-Y(excluding Germany: margins improved 120 bps to 15.3%) Strong return ratios with ROCE at 60% and ROE at 31% (TTM basis) Operati
Slide 5: Table Of Contents
Table Of Contents Business Background Details 7 Q1FY22 Financial Performance 15 Financial Performance Trends 20 Annexures 27 Results Presentation, July 2021 5
Slide 6: Business Background Details
Business Background Details Result Presentation, July 2021 6
Slide 7: Vaibhav Global Limited (VGL) at a Glance
Vaibhav Global Limited (VGL) at a Glance Be the Value Leader in To deliver one million meals per day to children in VISION MISSION Electronic Retailing of Jewellery & Lifestyle need by ‘FY31’ through our Products one for one meal program : ‘Your Purchase Feeds…‘ Team-Work Honesty Passion Positive At
Slide 8: Our Global Presence
Our Global Presence Retail Markets Shop LC | Shop TJC | Shop LC (US) (UK) (Germany) UK Operate Through Marketplaces Canada | Japan US Sourcing China ▪ India ▪ Mozambique ▪ China ▪ Germany ▪ Thailand ▪ Italy ▪ Indonesia ▪ Turkey ▪ Tanzania ▪ Poland India ▪ Russia ▪ Singapore ▪ Morocco ▪ UAE ▪ Myanmar
Slide 9: Corporate Overview
Corporate Overview Vertically- > End-to-end B2C business model Shop LC (US) & > Presence on > TV Homes accessed (*FTE) – 102.5 integrated Shop TJC (UK) million - Proprietary TV home-shopping fashion retailer - Proprietary e-commerce platforms are brands with > Growing online presence on electronic -
Slide 10: 4R's of Customer Engagement
4R’s of Customer Engagement 102.5mn 2.9lakh (TTM) 45.7% (TTM) 30*(TTM) TV – Diverse Products Linear / OTA Enduring relationships Expanding wallet share Web - Deep value proposition Convenience Browsers / Mobile Apps / Social Media / Cross-selling Market-places / OTT Engrossing Content Digitalization
Slide 11: Our Omni-Channel Sales Platform – Shop LC (US)
Our Omni-Channel Sales Platform Shop LC (US) Shop LC Proprietary TV channels – 77.5 mn HH Shop LC live TV stream on shoplc.com, YouTube, including 18.6mn OTA* HH* Facebook and Amazon Live TV Proprietary web Shop LC mobile app Social retail of targeted platform available on Marketplaces products on G
Slide 12: 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 13: Business Transition Dashboard
Business Transition Dashboard B2C Revenues by Format B2C Revenues by Product Category TV revenues Web revenues Jewellery Non-jewellery revenues 22% 11% 36% 36% 31% 31% 78% 64% 64% 89% 69% 69% FY17 FY21 Q1 FY22 FY17 FY21 Q1 FY22 56% of web revenues in Q1 FY22 were from Mobile platform Jewellery reven
Slide 14: Q1 FY22 Financial Performance
Q1 FY22 Financial Performance Result Presentation, July 2021 14
Slide 15: Financials – Q1 FY22 Performance: Revenue Breakdown
Financials – Q1 FY22 Performance Revenue Breakdown – (Rs. crore) Fashion Jewelry, Accessories & Lifestyle Products Revenue TV Revenue Web Revenue B2B Revenue 23.9% 24.6% 682 426 550 342 19.7% 243 203 130.9% 13 5 Q1 FY21 Q1 FY22 Q1 FY21 Q1 FY22 Q1 FY21 Q1 FY22 Q1 FY21 Q1 FY22 Note: B2B has been a
Slide 16: Revenue Breakdown – Local Currency
Financials – Q1 FY22 Performance Revenue Breakdown – (Local Currency) Shop LC (US) Shop TJC (UK) (USD million) (GBP million) 21.2% 21.1% 20.8 61.8 17.1 51.0 Q1 FY21 Q1 FY22 Q1 FY21 Q1 FY22 Results Presentation, July 2021 16
Slide 17: Retail Performance Trends – Q1 FY22
Retail Performance Trends – Q1 FY22 Volume and ASP TV Sales Sales Volume ('000s) Average Selling Price US$ 1,964 29.5 24.1 1,880 Q1 FY21 Q1 FY22 Q1 FY21 Q1 FY22 Web Sales Sales Volume ('000s) Average Selling Price US$ 1,382 23.8 1,306 20.6 Q1 FY21 Q1 FY22 Q1 FY21 Q1 FY22 Results Presentation, July 2
Slide 18: Financials – Q1 FY22 Performance: Profits
Financials – Q1 FY22 Performance Profits – (Rs. crore) Gross Profit *EBITDA Gross EBITDA Margin (%) 64.3% 65.0% Margin (%) 14.1% 14.4% 25.3% 26.2% 444 98 354 78 Q1 FY21 Q1 FY22 Q1 FY21 Q1 FY22 ***PAT ***EPS (Rs.) – Post split PAT Margin (%) 9.6% 14.5% 9.6% 86.6% **6.07 24.4% 4.05 ** 99 3.27 66 5
Slide 19: Financial Performance Trends
Financial Performance Trends Result Presentation, July 2021 19
Slide 20: Financial Performance Trends: Revenue Breakdown
Financial Performance Trends Revenue Breakdown – (Rs. crore) Revenue 5 Year CAGR: 14.8%* 2,540 1,814 1,986 1,436 1,571 23.9% 550 682 FY17 FY18 FY19 FY20 FY21 Q1FY21 Q1FY22 Fashion Jewelry, Accessories & Lifestyle Products TV Revenue Web Revenue B2B Revenue 5 Year CAGR: 11.5% 5 Year CAGR: 32.4% 1,60
Slide 21: Retail Performance Trends
Retail Performance Trends Volume and ASP TV Sales Sales Volume ('000s) Average Selling Price US$ 7,837 29.9 29.5 6,275 24.9 27.0 26.4 27.7 5,877 5,737 6,070 24.1 1,880 1,964 FY17 FY18 FY19 FY20 FY21 Q1FY21 Q1FY22 FY17 FY18 FY19 FY20 FY21 Q1FY21 Q1FY22 Web Sales Sales Volume ('000s) Average Selling P
Slide 22: Financial Performance Trends: Profits
Financial Performance Trends Profits – (Rs. crore) Gross Profit *EBITDA Gross EBITDA 7.1% 10.1% 12.0% 13.9% 15.3% 14.1% 14.4% 60.1% 59.6% 62.5% 61.6% 62.3% 64.3% 65.0% Margin (%) Margin (%) 1,583 CAGR: 38.9% 1,133 1,224 388 865 936 276 217 26.2% 444 159 354 102 78 98 FY17 FY18 FY19 FY20 FY21 Q1FY21
Slide 23: Financial Performance Trends: Balance Sheet
Financial Performance Trends Balance Sheet – (Rs. crore) Shareholders’ Equity Fixed assets including intangibles **234 ** 1,081 ** 192 ** 964 **163 697 ** 751 126 120 117 434 550 FY17 FY18 FY19 FY20 FY21 Q1FY22 FY17 FY18 FY19 FY20 FY21 Q1FY22 Net Debt Net Assets *** FY17 FY18 FY19 FY20 FY21 Q1FY22 6
Slide 24: Financial Performance Trends: Cash Flow
Financial Performance Trends Cash Flow – (Rs. Crore) Operating Cash flow Free Cash Flow 324 268 181 176 203 211 82 87 70 68 52 38 32 20 FY17 FY18 FY19 FY20 FY21 Q1FY21 Q1FY22 FY17 FY18 FY19 FY20 FY21 Q1FY21 Q1FY22 Results Presentation, July 2021 24
Slide 25: Financial Performance Trends: Key Ratios
Financial Performance Trends Key Ratios ROE (TTM) ROCE (TTM) 32% 31% 61% 60% 26% 25% 23% 46% 37% 16% 27% 18% FY17 FY18 FY19 FY20 FY21 Q1FY22 FY17 FY18 FY19 FY20 FY21 Q1FY22 Note - ROE – based on average net worth ROCE – based on average capital employed Results Presentation, July 2021 25
Slide 26: Annexures
Annexures Result Presentation, July 2021 26
Slide 27: 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 5.0 439.6 436.8 4.8 423.7 14.0% 13.6% 405.7 387.6 31.1% 11.0% 27.8% 9.9% 9.1% 8.2% 217.3 19.1% 17.9% 1.6 16.2%
Slide 28: Robust Corporate Governance
Robust Corporate Governance Q1 FY22 Rs. 24.5cr Best Governed Company Award at ICSI National Awards for Excellence in Corporate Governance in Jan 21 Dividend (interim dividend) Dividend Payout Policy > 20-30% of consolidated free cash flow > Higher payout in special circumstances > Balance between re
Slide 29: Environmental Initiatives
Environmental Initiatives ENERGY WATER Rainwater harvested 3.23 Solar power capacity meets 100% power 52 lac ltrs. per annum mw requirement at Water saved per day manufacturing units in Jaipur 5kl with the installation of low LPM faucets LEED certified unit at SEZ in Jaipur, Rajasthan Reduce, 43kl w
Slide 30: Community Giveback
Community Giveback > Served 55 million meals to underprivileged Covid-19 Key Initiatives children through flagship One for One Program, > Donated an Oxygen plant to Santokba Durlabhji Your Purchase Feeds… Memorial Hospital in Jaipur, Rajasthan. This plant > Local charity partners has a total capacit
Slide 31: VGL Shareholder Base – As on 30-June-2021
VGL Shareholder Base – As on 30-June-2021 Holding as on Shareholding Pattern Key Shareholders (Holding 1%+) 30-June-21 Promoter & Promoter Group 58.16% Others 7.92% Nalanda India Fund Limited (FII) 10.29% Individual - >1% 3.22% Motilal Oswal Flexi Cap Fund (MF) 6.86% AIF 1.32% Malabar India Fund Lim
Slide 32: 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 33: Thank You
THANK YOU For more information please contact: Vineet Ganeriwala, Group CFO Dipti Rajput, Head-IR Vineet@vglgroup.com Dipti.Rajput@vglgroup.com +91-141-2771975 +91-9116653352