V-mart Retail Ltd · NSE:VMART
V-mart Retail — Q3 FY2024 Earnings Presentation
28 slides from V-mart Retail's earnings presentation, Feb 6, 2024
Slide 1: Cover letter to stock exchanges
Ref. No. CS/S/L-733/2023-24 6th February, 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 Q3FY24
V-Mart Retail Limited Investor Presentation Q3FY24 www.vmartretail.co.in / www.limeroad.com
Slide 3: Q3FY24 Key Performance Highlights
Q3FY24 Key Performance Highlights Financial Parameters Operational Parameters
Slide 4: Key Highlights: Q3FY24 vs. Q3FY23
Key Highlights: Q3FY24 vs. Q3FY23 ▪ Revenue Growth 14% YoY ▪ Footfalls growth 23% ▪ L2L Sales growth 4% (VM +5%, UL +1%) ▪ 20 new stores opened in Q3 (16 VM, 4 UL), 3 closed (2 VM, 1 UL) ▪ Limeroad losses reduce by 29%, QoQ The figures for the corresponding previous period/year have been Q3 FY24 reg
Slide 5: Financial Parameters
Financial Parameters Revenue (₹ Millions) Revenue Mix (%) 14%▲ Q3FY23 Q3FY24 82% 82% 8,891 13%▲ Q3FY23 7,769 7,281 6,428 Q3FY24 12%▲ 233%▲ 1,289 1,439 51 170 8% 9% 10% 9% Total V-Mart Unlimited LimeRoad * LimeRoad Net Merchandise Value : ₹ 406 Million (Q3FY23 : ₹ 131 Million) Apparel Non-Apparel FMC
Slide 6: Operational Parameters
Operational Parameters Footfall (Millions) Conversion Rate (%) 55% 52% 23%▲ 15 13 Q3FY23 Q3FY24 Q3FY23 Q3FY24 Same Store Sales (SSSG) Growth (%) Average Selling Price (ASP) (₹) 10%▼ 9%▼ 4% 6%▼ 6%▼ 3%▲ 5%▼ 5%▼ 1% 275 254 481 420 402 516 Total Total V-Mart Unlimited Total V-Mart Unlimited Q3FY23 Q3FY2
Slide 7: Apr – Dec FY24 Key Performance Highlights
Apr – Dec FY24 Key Performance Highlights Financial Parameters Operational Parameters
Slide 8: Key Highlights: YTDFY24 vs. YTDFY23
Key Highlights: YTDFY24 vs. YTDFY23 ▪ Revenue Growth : 13% YoY ▪ Revenue Channel Mix • V-Mart : 80% (including 2% digital) +11% YOY • Unlimited : 17% (+6% YOY) • LimeRoad : 3% (commission revenue) ▪ Total Stores : 454 (VMart : 367 / Unlimited : 87) • Stores Opened : 37 (V-Mart: 29, Unlimited: 8) • S
Slide 9: Financial Parameters
Financial Parameters Revenue (₹ Millions) Revenue Mix (%) 13%▲ 82% 80% YTDFY23 21,170 11%▲ YTDFY23 18,709 YTDFY24 16,933 YTDFY24 15,200 6%▲ 3,458 3,674 8% 9% 10% 11% 51 563 Total V-Mart Unlimited LimeRoad* Apparel Non-Apparel FMCG LimeRoad Net Merchandise Value : ₹ 1386 Million (FY23 : ₹ 131 Million
Slide 10: Operational Parameters
Operational Parameters Footfall (Millions) Conversion Rate (%) 20%▲ 25% 57% 4039 54% 3232 YTDFY23 YTDFY23 YTDFY24 YTDFY24 YTDFY23 YTDFY24 Transaction size (₹) Average Selling Price (ASP) (₹) 2,310 13%▼ 2,014 14%▼ 15%▼ 7%▼ 6%▼ 4%▼ 2%▼ 7%▼ 6%▼ 1,117 1,073 1,001 980 233 211 451 361 338 480 Total V-Mart
Slide 11: Operational Parameters
Operational Parameters Store Count (Nos) Tier Wise Sales per square feet (Per Month) (₹) 1050 10%▲ 1%▲ 7%▲ 5%▼ 850 4%▲ 687 674 638 12%▲ 414 454 14%▲ 650 636 643 643 625 652 545 487 6%▲ 206 234 19%▲ 450 108 108 52 55 48 57 250 50 Tier 1 Tier 2 Tier 3 Tier 4 Tier 1 Tier 2 Total Tier 1 Tier 2 Tier 3 Ti
Slide 12: Operational Parameters
Operational Parameters Same Store Sales Growth (SSSG) (%) Same Store Volume Growth (SSVG) (%) SSSG 25% SSSV 20% 1% -5% 0% 15% Total 9% Total 6% 6% 10% Total V-Mart Unlimited V-Mart V-Mart 5% Unlimited 0% Unlimited Total V-Mart Unlimited YTD FY23 SSSG and SSSV are not comparable, since the base year
Slide 13: Operating Expenses
Operating Expenses Manpower (₹ Millions) Power & fuel (₹ Millions) 17%▲ 22%▲ 15%▲ 2,201 866 19%▲ 1,875 711 1,460 1,683 561 669 17%▲ 38%▲ 30%▲ 274 322 141 196 150 195 0 1 Total V-Mart Unlimited LimeRoad * Total V-Mart Unlimited LimeRoad * YTDFY23 YTDFY24 YTDFY23 YTDFY24 Advertisement (₹ Millions , %
Slide 14: ELEB
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Slide 15: Limeroad: Steady progress to profitability
Limeroad: Steady progress to profitability NMV and Revenue (₹ Millions) (₹ Millions) Synergies EBITDA Loss ContributionSynergies Margin* (% to NMV) 600.33 60% 41% 31% 550.33 39% 42% 256 500.33 38% 28% 27% 450.33 23%▼ 24% 400.33 350.33 198 29%▼ 18% 300.33 15% 250.33 10% 200.33 141 6% 150.33 118 31210
Slide 16: LimeRoad is extending our total combined addressable market
LimeRoad is extending our total combined addressable market by targeting a fashion-forward audience Stun The Crowd! Raise The Bar High! Denims For Date! Terrific Tube Tops! mine Just another day of Alaya staying? + Tristimeina + + = Rohit's #Casual “ re Cutout PA | pateNight moodboard is such a vibe
Slide 17: Apr-Dec FY24 Key Business Segments, Financial Statements
Apr- Dec FY24 Key Business Segments Profit & Loss Statement Balance Sheet Cash flow Statement 16
Slide 18: Statement of Profit & Loss
Statement of Profit & Loss ₹ Millions For the period ended Particulars December 31, 2023 December 31, 2022 (Unaudited) (Unaudited) I Revenue from operations 21,170 18,709 II Other income 165 74 III Total Income (I + II) 21,335 18,783 IV Total expenses 22,120 18,398 V (Loss)/profit before tax (III-IV
Slide 19: Segment Reporting
Segment Reporting ₹ Millions For the Period Ended As at Particulars December 31, 2023 December 31, 2022 Particulars December 31, 2023 December 31, 2022 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Segment Revenue Segment Asset Retail Trade (V-Mart + Unlimited) 20,607 18,658 Retail Trade (V-Mart +
Slide 20: Ind-AS 116: P&L Impact (YTD FY24)
Ind-AS 116 : P&L Impact (YTD FY24) ₹ Millions Pre Ind-AS 116 Post Ind-AS 116 Increased / (decreased) in PBT Particulars (impact on PBT) – FY24 (A) (B) C = (A-B) Other Expense (Rent impact) 5,074 3,557 1,517 Finance cost 132 1,065 -933 Depreciation & Amortization 568 1,614 -1,046 (Loss)/profit before
Slide 21: Balance Sheet
Balance Sheet ₹ Millions As At As At Particulars December 31, 2023 March 31, 2023 Particulars December 31, 2023 March 31, 2023 (Unaudited) (Audited) (Unaudited) (Audited) EQUITY AND LIABILITIES ASSETS Equity Property, plant and equipment 5,013 3,191 Equity Share Capital 198 198 Capital work in progr
Slide 22: Cash Flow Statement
Cash Flow Statement ₹ Millions For the period ending Cash Flow Statement for the period December 31, 2023 December 31, 2022 (Unaudited) (Unaudited) (A) Cash flows from operating activities Profit before Income Tax -785 386 Adjustments to reconcile profit before tax to net cash flows 2,662 2,117 Oper
Slide 23: Store Geographical Spread, Other Significant Updates
Apr – Dec FY24 Store Geographical Spread Other Significant Updates 22
Slide 24: Cluster Based Expansion - New Stores Additions (Q3 FY24)
Cluster Based Expansion - New Stores Additions (Q3 FY24) Total 20 ASSAM 1 BIHAR 1 (1 store closed) +1 GUJARAT 1 JHARKHAND 2 MADHYA PRADESH 1 +2 +2 ORISSA 1 +1 RAJASTHAN 3 +1 TAMIL NADU 4 +1 TRIPURA 1 UTTAR PRADESH Telangana 5 (1 store closed) Closed 3 stores in Q3, 1 store in Goa, Assam and Bihar re
Slide 25: Total Stores as on December 31, 2023
Total Stores as on December 31, 2023 STATE FY24 FY23 ANDHRA PRADESH 12 11 ARUNACHAL PRADESH 1 1 ASSAM 14 14 BIHAR 59 56 CHANDIGARH 1 1 GOA 0 1 GUJARAT 9 7 5 HARYANA 4 4 HIMACHAL PRADESH 1 1 1 JAMMU AND KASHMIR 8 8 JHARKHAND 26 24 KARNATAKA 19 19 KERALA 4 2 MADHYA PRADESH 20 17 MAHARASHTRA 5 5 MEGHAL
Slide 26: New Stores in Q3
New Stores in Q3 UP Bihar Gujarat Rajasthan Put-To-Light System UP Rajasthan Tamil Nadu Tamil Nadu 25
Slide 27: Renovated Stores – Refreshed Look
Renovated Stores – Refreshed Look 26
Slide 28: Thank you!
Thank Thankyou! you! In case of any queries, please contact the IR Team: In case of any queries, please contact the IR Team: ir_vmart@vmartretail.com ir_vmart@vmartretail.com