Slide 1: Exchange filing cover letter
August 30, 2024 Ref. FC/SE/2024-25/02 National Stock Exchange of India Limited BSE Limited Exchange Plaza, C – 1, Block G, Phiroze Jeejeebhoy Towers, Bandra-Kurla Complex, Bandra (E), Dalal Street, Mumbai-400051 Mumbai-400001 Symbol: FIRSTCRY Scrip Code: 544226 Sub : Investor Presentation of Brainbe
Slide 2: Q1 FY25 Earnings Presentation
Q1 FY25 Earnings Presentation AUGUST 30, 2024
Slide 3: Disclaimer
Disclaimer By attending the presentation or by reading the presentation slides you agree to be bound as follows: This Presentation is prepared by Brainbees Solutions Limited (“Company”) and is for information purposes only without regards to specific objectives, financial situations or needs of any
Slide 4: Delivering Growth at Scale with Significant Improvement in Profitability
Delivering Growth at Scale with Significant Improvement in Profitability 9.5 MM INR 23,183 MM INR 16,521 MM Annual Unique Transacting GMV (2) Revenue from Operations(3) Customers(1) + 15% vs June 2023 + 17% vs Q1 FY24 + 17% vs Q1 FY24 INR 743 MM INR 954 MM INR 177 MM Consolidated Adjusted EBITDA(4)
Slide 5: India Multi-channel Retail Platform
India Multi-channel Retail Platform Section 1 • 3
Slide 6: India Multi-Channel Business: Summarizing Key Business Updates
India Multi-Channel Business: Summarizing Key Business Updates Annual Unique Transacting Customer base of 9.0+ million in Q1FY25 (1) for India Multi-channel business with 0.4 million additions QoQ 1 vs Q4 FY24 and 14% yoy growth (3) 2 Strong growth in order volume at ~9.0 million Q1FY25, YoY growth
Slide 7: India Multi-Channel Business Has a Growing User Base with Increasing Orders and GMV
India Multi-Channel Business has a Growing User Base with Increasing Orders and GMV Excludes Education and Globalbees Segment Annual Unique Transacting Customers Orders GMV(3) MM MM INR MM 14% 19% 12% 75,827 9.0 15% 8.7 34.1 7.9 63,831 7.7 29.6 19% 18% 9.0 19,389 7.6 16,494 (2) (2) FY23 FY24 Q1FY24
Slide 8: India Multi-Channel Business: Strong Earnings Growth with 25% YoY Improvement in Profitability
India Multi-Channel Business: Strong Earnings Growth with 25% YoY Improvement in Profitability India Multi-Channel Revenue(1) India Multi-Channel Adjusted EBITDA(1,2) INR MM INR MM Adjusted 17% EBITDA 6.2% 8.8% 7.7% 8.3% 45,795 Margin % 39,105 66% 4,040 2,435 16% 11,501 9,900 25% 954 765 FY23 FY24 Q
Slide 9: International Markets
International Markets Section 2 • 4
Slide 10: International Markets: Summarizing Key Business Updates
International Markets: Summarizing Key Business Updates 1 Annual Unique Transacting Customer base of 0.4+ million in Q1FY25 (1) with robust YoY growth of 39% Order volumes affected due to operations being severely impacted for 10-12 days due to unseasonal rains and floods in UAE and 2 advancement in
Slide 11: Steady Growth in Transacting Customers and AOV in Q1 FY25 for International Business
Steady Growth in Transacting Customers and AOV in Q1 FY25 for International Business Annual Unique Transacting Customers Orders GMV(3) MM MM INR MM 39% 30% 76% 67% 0.44 1.8 15,384 0.43 1.4 0.32 Business impacted for 10- 0.26 12 days by flash floods 8,745 and rains in the UAE and advancement of seaso
Slide 12: International Markets Profitability Improving Significantly Every Quarter
International Markets Profitability Improving Significantly Every Quarter Revenue(1) Adjusted EBITDA(1,2) INR MM INR MM 55% Adjusted EBITDA (24.6%) (18.5%) (22.7%) (16.6%) 7,537 Margin % (1,396) (1,201) 4,875 7% 1,837 1,724 (392) (305) FY23 FY24 Q1FY24 Q1FY25 FY23 FY24 Q1FY24 Q1FY25 Notes: 1. Number
Slide 13: GlobalBees
GlobalBees Section 3
Slide 14: GlobalBees – Combination of Healthy Growth and Improving Profitability
GlobalBees – Combination of Healthy Growth and Improving Profitability GlobalBees Revenue GlobalBees Adjusted EBITDA (1) INR MM INR MM Adjusted EBITDA (5.0%) 0.2% (0.9%) 1.4% Margin (%) 35% 46 12,093 23 8,972 (24) 26% 3,245 2,565 (447) FY23 FY24 Q1FY24 Q1FY25 FY23 FY24 Q1FY24 Q1FY25 Note: 1. Adjuste
Slide 15: Financial Highlights
Financial Highlights Section 4 • 6
Slide 16: Combination of Scale, Growth and Rapidly Improving Profitability
Combination of Scale, Growth and Rapidly Improving Profitability Consolidated Revenue from Operations (2) Consolidated Adjusted EBITDA (2,3) INR MM INR MM Gross 35.8% 35.7% 37.7% Adjusted EBITDA 32.9% 1.5% 4.2% 2.6% 4.5% Margin Margin 23% 64,809 +255% 2,744 52,622 17% +106% 16,521 772 743 14,069 360
Slide 17: Profitability Improvement Driven by Higher Gross Margins and Operating Leverage
Profitability Improvement Driven by Higher Gross Margins and Operating Leverage Consolidated Gross Margin (2) Consolidated Adjusted EBITDA Margin (2,3) % of Revenue from Operations % of Revenue from Operations +199 Bps +284 Bps 37.7% 35.8% 35.7% + 194 Bps + 276 Bps 4.5% 32.9% 4.2% 2.6% 1.5% FY23 FY2
Slide 18: Supplementary Information
Supplementary Information Appendix • 7
Slide 19: Summary Consolidated Profit & Loss Statement
Summary Consolidated Profit & Loss Statement INR Million FY23(2) FY24 Q1 FY24 Q1 FY25 Revenue from Operations 52,622 64,809 14,069 16,521 Material Costs 35,297 41,632 9,044 10,291 Gross Profit 17,325 23,177 5,025 6,230 Gross Profit Margin % 32.9% 35.8% 35.7% 37.7% Direct Costs 4,911 5,879 1,357 1,51
Slide 20: Summary Segment Disclosures
Summary Segment Disclosures INR Million FY23 (3) FY24 Q1 FY24 Q1 FY25 India Multi-Channel Revenue from Operations 39,105 45,795 9,900 11,501 Adjusted EBITDA(1) 2,435 4,040 765 954 Adjusted EBITDA margin (%) 6.2% 8.8% 7.7% 8.3% Segment Results 742 1,666 261 330 Segment margin (%) (2) 1.9% 3.6% 2.6% 2
Slide 21: Adjusted EBITDA to Profit / Loss after Tax Reconciliation
Adjusted EBITDA to Profit / Loss after Tax Reconciliation INR Million FY22 (2) FY23 (2) FY24 Q1 FY24 Q1 FY25 Loss after Tax (1,017) (4,864) (3,215) (1,104) (757) Add : Tax Expenses 273 (440) 0 (46) 59 Add : Finance Costs 424 721 1,154 357 380 Add : Depreciation and Amortisation Expense 1,341 2,963 3
Slide 22: Reconciliation of Profit / Loss after Tax to Cash Profit after Tax
Reconciliation of Profit / Loss after Tax to Cash Profit after Tax INR Million FY22 (7) FY23(7) FY24 Q1 FY24 Q1 FY25 Loss after Tax (1,017) (4,864) (3,215) (1,104) (757) Deferred Tax expense (151) 612 438 85 19 Loss before Deferred Tax Expense (866) (5,476) (3,653) (1,189) (776) Ind AS 116 Cost (Ren
Slide 23: Other Operating Metrics
Other Operating Metrics Particulars FY23 FY24 Q1 FY24 Q1 FY25 Number of brands (1) 7,035 7,580 6,871 7,589 Number of SKUs (MM) (2) 1.3 1.7 1.3 1.7 Number of warehouses and stockists (3) 79 80 80 80 Net Working Capital Days (4) 50 53 48 50 Inventory Days (5) 83 92 84 92 Modern Stores 904 1,063 936 1,
Slide 24: Other Operating Metrics (Cont’d)
Other Operating Metrics (Cont’d) Particulars FY23 FY24 Q1 FY24 Q1 FY25 GMV from Online (INR MM) 58,126 73,700 15,993 18,686 GMV from Offline (INR MM) 14,450 17,511 3,878 4,497 GMV from Existing Customers (INR MM) 52,963 65,878 16,140 19,191 GMV from New Customers (INR MM) 19,613 25,333 3,731 3,992 A
Slide 25: Summary Estimate of Share Based Compensation Expense
Summary Estimate of Share Based Compensation Expense Expected ESOP Charges Based on Currently Issued ESOPs INR Million Q1 Q2 Q3 Q4 Total Commentary • The table illustrates expected ESOP cost for all FY 2025 206.3 206.3 206.3 206.3 825.2 ESOPs granted FY 2026 84.2 84.2 84.2 84.2 336.8 • The cost assu
Slide 26: Glossary
Glossary Term Definition FirstCry Modern Stores Includes FirstCry-owned multi-brand stores, franchisee stores, and exclusive home brand stores Monetary value of Orders inclusive of taxes and gross of discounts, if any, across the FirstCry website, mobile application and FirstCry and BabyHug modern s