Vedant Fashions Limited · NSE:MANYAVAR
Vedant Fashions — Q2 FY24 Earnings Presentation
28 slides from Vedant Fashions's earnings presentation, Oct 31, 2023
Slide 1: Cover letter to stock exchanges
October 31, 2023 To, To, National Stock Exchange of India Limited BSE Limited Exchange Plaza, 5th Floor, Plot No. C-1, Phiroze Jeejeebhoy Towers Bandra Kurla Complex, Bandra (E), Dalal Street, Fort, Mumbai – 400051 Mumbai – 400001 NSE Symbol: MANYAVAR BSE Scrip Code: 543463 Madam / Sir, Sub : Copy o
Slide 2: Vedant Fashions Limited Investor Presentation - Nov 2023
Vedant Fashions Limited Investor Presentation - Nov 2023
Slide 3: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), which have been prepared by Vedant Fashions Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securi
Slide 4: About Vedant Fashions
About Vedant Fashions
Slide 5: Introduction to Vedant Fashions
Introduction to Vedant Fashions Indian Wedding and Celebration Wear Brands Headquartered in Kolkata, incorporated in 2002 by Mr. Ravi 199 01 9 Modi, Vedant Fashions offers Indian wedding & celebration wear for men, women & kids One-stop destination with wide product portfolio for every 199 02 02 cel
Slide 6: What makes Manyavar Special
What makes Manyavar Special Aspirational Yet Multi-brand Product Strong Control Over Curated Marketing Industry Leading Strong Corporate Value for Money Portfolio Entire Ecosystem Strategy with Multi Economics Governance Channel Presence o Aspirational Brand with o One-stop destination o Strong desi
Slide 7: Evolution Over the Years
Evolution Over the Years 1st EBO in Surpassed >INR Launched Mohey Strategic Acquisition of Launched Twamev (Men’s Listing on Stock Brand Manyavar Bhubaneshwar 1,000 mn EBO (Women’s Celebration Mebaz premium wear brand) Exchanges started operations revenue Wear label) via predecessor Kedaara Capital
Slide 8: Key Investment Highlights/ Our Strengths
Key Investment Highlights/ Our Strengths
Slide 9: Key Investment Highlights/ Our Strengths
Key Investment Highlights/ Our Strengths Unique business model Large & growing Indian wedding Market leader in Indian combining asset-light brand play & celebration wear market celebration wear market with along with seamless purchase driven by an increased spending diversified brand portfolio acros
Slide 10: Diversified Brand Portfolio Catering to Aspirations of Entire Family
Diversified Brand Portfolio Catering to Aspirations of Entire Family Brands Year Target Group Price Spectrum Distribution Product Portfolio Kay Attributes Men: Kurta, Indo-western, Sherwani, o Category leader in branded Indian wedding & celebration EBOs, MBOs, LFS, jacket, accessories wear market wi
Slide 11: Our Growth Strategy
Our Growth Strategy
Slide 12: Our Growth Strategy
Our Growth Strategy Retail Expansion within Up-selling and cross- Enhancement of brand Significant potential and Disciplined approach and outside India selling initiatives appeal through targeted space for growth of our towards acquisitions marketing initiatives emerging brands Vedant Fashions Limit
Slide 13: Q2 and H1 FY24 Key Highlights, Update and Financial Performance
Q2 and H1 FY24 Key Highlights, Update and Financial Performance
Slide 14: Company Key Performance Highlights
Company Key Performance Highlights Company expanded its retail footprint presence by adding 1.2 lacs sq. ft. net retail area in H1 FY24, with total retail presence of 1.59 mn sq. ft. as of Sep 2023; Company recorded growth in Revenue from operations of 67.1 % in Q2 FY24 compared to pre covid period
Slide 15: Wide Pan-India Reach and Presence including International Markets
Wide Pan-India Reach and Presence including International Markets Presence (As of H1 FY24) Net Rollout (Q2 FY24) Net Rollout (H1 FY24) 1.59 mn Sq. ft. 35 k Sq. ft. ~ 120 k Sq. ft. EBO’s Area* EBO’s Area EBO’s Area (Including 36K area of Intl. Stores in 4 Countries) 669 7 20 EBO’s* (Including 16 Intl
Slide 16: Vedant Fashions Limited •
Vedant Fashions Limited •
Slide 17: Key Financial Highlights (Consolidated)
Key Financial Highlights (Consolidated) INR in mn Q2 FY24 YoY Analysis Revenue from Operations Gross Profit1 & Gross Margin EBITDA2 & EBITDA Margin PAT & PAT Margin Margins → 66.5% 66.4% Margins → 47.0% 43.7% Margins → 28.0% 22.3% -11.6% -17.8% -11.7% 2,469 1,161 -29.4% 2,183 1,643 1,450 954 690 487
Slide 18: Key Retail Performance Overview
Key Retail Performance Overview INR in mn Retail Performance Vs FY23 (Sale of our Customers1) across Channels Q2 FY’24 Vs Q2 FY’23 H1 FY’24 Vs H1 FY’23 -12.9% ** 7,933 -8.2% ** 6,912 2,937 2,697 Q2 FY’23 Q2 FY’24 H1 FY’23 H1 FY’24 VFL recorded SSSG2 of -17.7% in Q2 FY24 over Q2 FY23 VFL recorded SSS
Slide 19: Profit and Loss Statement Q2 and H1 FY24 (Consolidated)
Profit and Loss Statement Q2 and H1 FY24 (Consolidated) INR in mn Quarter ended Half Year ended Particulars Sep 30, 2023 Sep 30, 2022 Sep 30, 2023 Sep 30, 2022 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Sr.no Income: I Revenue from operations 2,183 2,469 5,299 5,719 II Other income 151 97 301 1
Slide 20: Consolidated Balance Sheet
Consolidated Balance Sheet INR in mn As at As at INR mn September 30, 2023 March 31, 2023 (Unaudited) (Audited) Assets Non-current assets Fixed Assets (Tangible and Intangibles) 2,407 2,416 Right-of-use assets 3,515 2,791 Capital work-in-progress - 20 Investments 1,797 1,694 Other non-current assets
Slide 21: Consolidated Cash Flow
Consolidated Cash Flow INR in mn Half Year Year ended Period ended INR mn 3/31/2023 9/30/2023 (Unaudited) (Audited) Cash flow from operating activities Profit before tax 1,886 5,758 Operating profit before working capital changes 2,419 6,739 Movement in working capital (699) (569) Cash generated fro
Slide 22: Marketing Initiatives
Marketing Initiatives Marketing Initiatives Digital Campaigns Independence Day Campaign Groom Squad Man of her Dreams Ganesh Chaturthi Manyavar | Marvel AI Ganesha Avatar Rakhi ka Bro Code Digital Influencer Marketing Vedant Fashions Limited • 21
Slide 23: Continued Brand Salience
Continued Brand Salience Twamev Brand Awareness Vedant Fashions Limited • 22
Slide 24: Financial Summary
Financial Summary
Slide 25: Long Track Record of Strong Growth Trajectory
Long Track Record of Strong Growth Trajectory INR in mn Revenue & Sales of Customers Gross Profit1 EBITDA2 Sales of Customers Margins Margins 11,355 12,652 8,362 14,736 18,614 65.0% 65.3% 66.8% 66.9% 67.4% 42.2% 43.6% 49.9% 50.1% 50.1% 13,549 9,126 6,783 10,408 6,958 5,213 9,155 5,980 8,007 5,203 3,
Slide 26: Awards and Accolades
Awards and Accolades 2023 2014 2018 2020 “Entrepreneur Of The Year” “Most Admired Retailer of the Year “Fastest Growing Company-maximum Consumer Products and Retail “Men’s Indianwear” Marketing & Promotions Campaign” turnover INR 300 crore” EY Images Excellence Award Images Retail Award ET Bengal Co
Slide 27: Glossary
Glossary Term Description Company Vedant Fashions Limited The report titled “Assessment of the apparel industry with a special focus on Indian wedding and celebration wear market in India” dated Sep-2021 as updated Crisil Report by the addendum dated December 2021 prepared by CRISIL EBO Exclusive br
Slide 28: Thank you
COMPANY : Vedant Fashions Limited CIN : L51311WB2002PLC094677 Investor Relations Team investor.relations@manyavar.com www.vedantfashions.com INVESTOR RELATIONS ADVISORS : Orient Capital (a division of Link Group) Mr. Nikunj Jain Mr. Rajesh Agrawal +91 9769060608 +91 99674 91495 nikunj.jain@linkintim