Slide 1: Exchange cover letter: Investor Presentation
FSN E-Commerce Ventures Limited (formerly ‘FSN E-Commerce Ventures Private Limited’) June 19, 2023 National Stock Exchange of India Limited BSE Limited Exchange Plaza, 5th Floor, Corporate Relationship Department, Plot No. C/1, G Block, 2nd Floor, New Trading Wing, Bandra – Kurla Complex, Rotunda Bu
Slide 2: Corporate Presentation June 2023
Corporate Presentation June 2023 FSN E-Commerce Ventures Limited
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 FSN E-Commerce Ventures Limited (“Company”) and is for information purposes only without regards to specific objectives, financial situations or needs of
Slide 4: Table of Contents
Agenda Table of Contents 1. Nykaa Overview 2. BPC 3. Fashion 4. SuperStore 5. International 6. Financials 3
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Slide 6: Discretionary Spends: To witness strong growth given demographic and economic shifts
Discretionary Spends: To witness strong growth given demographic and economic shifts India’s fast-growing GDP per capita Consumption differences across tiers 15% CAGR $5500 $2,400 $1,200 Tier 1 Annual Tier 2+ Annual consumption consumption $2500 $2000 54% 36% discretionary discretionary 2020 2022 20
Slide 7: BPC: India Per Capita spend is under-indexed; large headroom for growth
BPC: India Per Capita spend is under-indexed; large headroom for growth India’s position on the S curve by 2030; GDP per capita $5,500; BPC per capita: $45-50 BPC Per Capita India: Nykaa BPC is $15 $50 currently at $80 GDP Per Capita India: $2500 $5500 2022 to 2030 *per customer Evidence from other
Slide 8: Fashion: India Per Capita spend is under-indexed; large headroom for growth
Fashion: India Per Capita spend is under-indexed; large headroom for growth 1200 United States Germany Denmark 1000 Canada India’s position on the curve by 2030; Fashion Per Capita (USD) United Arab Emirates GDP per capita $5,500; Fashion per capita: Australia Sweden Fashion Per Capita 800 $160 Port
Slide 9: Households in High Income by 2030
29 MN Households in High Income By 2030, 1 in 2 Households with High Purchasing Power Households This translates to: 293M 339M 386M High Income > $10k 8M 18M 29M per capita (> INR 32 L) (3%) (5%) (7%) income Upper-Mid ~$5-7.5k 61M (21%) 115M (34%) 168M (44%) per capita (INR 8L-32 L) income Lower-Mid
Slide 10: Per Capita BPC Consumption will be a mix of varying income groups
Per Capita BPC Consumption will be a mix of varying income groups India High income BPC Per Capita India Upper India: India Lower mid income >$150 $15 $50 mid income GDP Per Capita India: $2500 $5500 $12 2022 to 2030 $50 Nykaa target customer base With currently 18 Mn High Income & 115 Mn Upper-Mid
Slide 11: Per Capita Fashion Consumption will be a mix of varying income groups
Per Capita Fashion Consumption will be a mix of varying income groups 1200 United States Germany Denmark 1000 Canada India High Fashion Per Capita (USD) United Arab Emirates income Australia Sweden Fashion Per Capita 800 Portugal India: Qatar India Upper $54 $160 600 mid income Kuwait Spain India Lo
Slide 12: Discretionary Spends: To witness strong growth given demographic and economic shifts
Discretionary Spends: To witness strong growth given demographic and economic shifts Share of ecommerce in retail spend Value share of ecommerce by category 45% India overall at 19% Growth-mature stage 37% 30% 27% Growth stage 19% Early stage 14% 5-10% 9-10% <2% China USA Low-income Middle-income Hi
Slide 13: BPC & Fashion: To witness strong growth given demographic and economic shifts
BPC & Fashion: To witness strong growth given demographic and economic shifts Share of e-com transactions by age group BPC & Fashion per capita in India 37% 31% Nykaa $130 24% Fashion India $54 8% Nykaa $80 <1% BPC 18-24 25-34 35-44 45-54 55-64 Gen Z GenZ - Millenial Millenial Gen X Baby Boomer Indi
Slide 14: Nykaa - India's preferred lifestyle retailer
Nykaa - India’s preferred lifestyle retailer 51,438Mn*** 103Mn** 125Mn*** 24Mn** INR Revenue App installs Monthly Visits Customer base 6200+** 154** 42 Mn*** 15Mn** Brands Retail Stores Orders Social Followers We are one of India’s leading Beauty and Fashion Omnichannel player 2012* 2018* 2019* 2021
Slide 15: The Nykaa Journey Over the Years
The Nykaa Journey Over the Years Developed pin- code based personalization during COVID Launched owned brand Launched Launched Nyveda, a Explore, The Ordinary potent in-app ranks #1 in Ayurveda Initiation of Entered into content skin care brand partnership agreement aggregation for Cannes x with Kat
Slide 16: Nykaa Playbook – Art of Retailing
Nykaa Playbook – Art of Retailing Curation Content Convenience Authenticity Content Led Marketing using social media Omni channel experience Style driven, Aspirational and Newness Influencer Marketing Seamless discovery to delivery Personalized Discovery Education & Awareness Beauty Advisory and Int
Slide 17: Diversification of our business
Diversification of our business GMV (Rs Mn) Annual Unique Transacting Customers (Mn) FY20 FY23 FY20 FY23 0.3% 5.2% 0.5 0.1 7.0% 2.5 26.4% Rs 26,849 Mn Rs 97,433 Mn 5.4 Mn 13.0 Mn 68.4% 10.0 92.7% 5.2 3-year CAGR% 39% 140% 299% 3 Year CAGR% 24% 177% 121% Cumulative Customer base of 24 Mn+ in FY23 BPC
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Slide 19: Beauty & Personal Care: One of the fastest growing markets with changing landscape
Beauty & Personal Care: One of the fastest growing markets with changing landscape The landscape of BPC is undergoing a Premium segment growing at 2.5x of Beauty & Personal Care Market Size remarkable transformation mass CAGR % 2020-35E CAGR Online 27% CAGR 30 $ Bn 23 26 High 16% 21 8.1 19 39% 43% 5
Slide 20: Key Growth Strategies
Key Growth Strategies Core Value Proposition driving our growth 1 Driving customer acquisition and retention across the funnel journey 19
Slide 21: Nykaa BPC – Overview
Nykaa BPC – Overview % 3-year CAGR 18% 937 24% 10.0 570 5.2 Annual Unique Visits (Mn) Transacting Customers FY20 FY23 (Mn) FY20 FY23 22.7 24% 9% 1,857 1,449 11.9 Monthly Average AOV@MRP (Rs) Unique Visitors (Mn) FY20 FY23 FY20 FY23 27% 34.8 78% 66% 16.9 Existing buyers GMV Contribution Orders (Mn) (
Slide 22: Our Customer demographics and their journey on our platform
Our Customer demographics and their journey on our platform Nykaa’s customers display behaviour of highly Beauty shopper funnel evolved online shoppers Universe of internet users 700 M 50x Visits in a year per customer One of the highest in the industry for 230 M an online retailer Online shoppers 6
Slide 23: Key Growth Strategies
Key Growth Strategies Core Value Proposition driving our growth 2 Deep relationships with a diverse set of domestic & international brands 22
Slide 24: Strong symbiotic relationship with our brand partners
Strong symbiotic relationship with our brand partners 1 2 3 4 3,400+ Brand Brand Launches Marquee Sale Events Partners(1) Launch of Anomaly in 2022 in India, a haircare brand by 1 Priyanka Chopra 1 Nykaa Summer Super Saver Days’22 [International, Domestic, D2C Launch of Ordinary exclusively in 2022
Slide 25: Authentic offerings from brands across all price points and categories
Authentic offerings from brands across all price points and categories Luxury Wide assortment Partner of choice for ASP: 2000 ensuring something the best global & for everyone domestic brands International brands ASP: 1500-3000 Masstige brands ASP: 600 Mass brands ASP: 300 Global Store Marketing & b
Slide 26: Authentic offerings from brands across all price points and categories
Authentic offerings from brands across all price points and categories Inventory led: Authenticity & better customer experience Makeup Skin Hair Bath and Body Fragrance Others (1) 3,400+(2) Brands across Luxury, Prestige and Value Categories 1. Others category includes Mom & Baby, Health & Wellness,
Slide 27: Our Journey with Estee Lauder Companies over the years
Our Journey with Estee Lauder Companies over the years 2016 2022 Launched Estée Lauder 2018 2019 2020 2021 Launched The Ordinary exclusively; Partnered with brands. Launched Smashbox and ELCA brands launch in Launched Too Faced, First Luxury Group to Launched Tom Ford ELCA to launch Beauty & Aveda N
Slide 28: Our Journey with L'oreal over the years
Our Journey with L’oreal over the years 2012 Nykaa is born 2014 2021 Launched YSL & Armani 2015 2016 Launched L'Oréal 2023 Launch of L'Oréal and Launched Kiehl’s Launched Nyx Cosmetics Professional and Matrix on Launched Lancôme Maybelline on Nykaa First physical store Nykaa.com 27 1. Event refers t
Slide 29: Key Growth Strategies
Key Growth Strategies Core Value Proposition driving our growth 3 Penetrating across the value chain and channels to address the larger TAM 28
Slide 30: Omnichannel: The only way to retail beauty in India
Omnichannel: The only way to retail beauty in India Nykaa’s multi-channel approach strengthens the its presence and allows customers to engage with the brand in different ways 1 Beauty is an experiential & sensorial category 2 30-40% of business for Premium brands comes from our Brick & mortar store
Slide 31: Growing our Physical Footprint Efficiently to cater to consumer demand
Growing our Physical Footprint Efficiently to cater to consumer demand 47% GMV 3-year CAGR % Store Count (#) 67 145 Rs 5,511 Mn 60 Cities in FY23 Rs 1,734 Mn FY2020 FY2023 8.3% Of overall BPC GMV GMV & No. of stores Same store sales growth 36% For stores opened till Mar’21 (FY 23 vs FY 22) Contribut
Slide 32: Expanding our offline footprint to create multiple touch points
Expanding our offline footprint to create multiple touch points KIOSK Collection of Luxury Beauty Brands Collection of Hero Brands ranging Collection of our House of Brands from across the globe from mass to premium Dedicated BA support with strong training for personalized selling through recommend
Slide 33: Strategic regionalization of our fulfilment centres
Strategic regionalization of our fulfilment centres Total Capacity of Meeting the demand with right warehouse at right location 1.5 million sq. ft* Delivering to ~98%* of the Getting closer to serviceable pincodes in India the customers Capacity Demand H1FY22 H2FY22 H1FY23 H2FY23 Key Improvements Se
Slide 34: Key Growth Strategies
Key Growth Strategies Core Value Proposition driving our growth 4 Creating, acquiring, and scaling a portfolio of independent and new age consumer-first brands 33
Slide 35: House Brands: Focused play across categories
House Brands: Focused play across categories India BPC Market – Category wise breakup 34
Slide 36: House of Brands: Offering across all BPC categories
House of Brands: Offering across all BPC categories 35
Slide 37: Growing distribution of our House of Brands
Growing distribution of our House of Brands % 3-year GMV CAGR % Annual GMV** % Contribution of Owned Brands to Nykaa BPC GMV Rs 2,500 Mn+ Owned Brands Count 40% Rs 1,300 Mn+ each 7 12 7,889 ~1,600 SKUs* 2,898 Distributed across 2,580* selective doors and 169* Modern Trade FY20 FY23 11.6% 11.9% Launc
Slide 38: Key Growth Strategies
Key Growth Strategies Core Value Proposition driving our growth 5 Developing new ways of selling and a holistic consumer connect 37
Slide 39: Educative & engaging content created to drive commerce
Educative & engaging content created to drive commerce Continuously creating High quality Our platforms content reach at a glance Creating Omnichannel experiences Content continues to be our strength Monthly Nykaa 120 Mn social reach Nykaa stream Catching on to trending live content 80 Mn Monthly re
Slide 40: Leading technology: Our backbone across the value chain
Leading technology: Our backbone across the value chain Easing the purchase journey Personalised shopping experience Seamless post order journey Virtual try ons Digitizing our Recommendation warehouses through widget based on paprless picking customer cohorts Launched EDD with ~90% delivered within
Slide 41: Growth strategy: Strengthening our value proposition for stakeholders
Growth strategy: Continuously focusing on strengthening our value proposition for our stakeholders Winning customers LOVE Be the growth engine for Brands Build sustainably Make Shopping personalised Giving brands access to the Focus on driving productivity & easy relevant consumer base in the & effi
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Slide 43: Fashion: India Per Capita spend is under-indexed; large headroom for growth
Fashion: India Per Capita spend is under-indexed; large headroom for growth Nykaa Fashion is positioned well to capitalize on the disproportionate growth in the online premium + masstige segments Online Premium fast-growing Fashion Market Size Key Growth Drivers segments* CAGR % Online Premium Fashi
Slide 44: Nykaa Fashion is carving out its niche in a crowded space
Nykaa Fashion is carving out its niche in a crowded space The market we entered The changes we brought in Changing the way Indian customers shop – moving Deep Discounting with focus on liquidating old away from purely discount led shopping and season merchandise focusing on New Season Merchandise La
Slide 45: The Fashion business has scaled rapidly in the last 5 years
The Fashion business has scaled rapidly in the last 5 years All Values in Rs million 16% YoY Growth % 562% share of the premium 250% online fashion market1 168% 47% 25,696 Fashion GMV 17,516 #2 most preferred platform 2 of choice among customers 6,530 1,868 282 FY2019 FY2020 FY2021 FY2022 FY2023 Con
Slide 46: The Fashion business: multi-brand omni-channel retailer and house of brands
The Fashion business has scaled rapidly in the last 5 years Multi-brand Omni-channel Retailer House of Brands 1 2,800+ Brand Partners* 2 13 Owned Brands* Key distribution channels Label Ritu Kumar Nykaa Fashion.com Cider Alo Revolve 4 Nykaa Fashion Marks & Spencer MBOs1 Adidas Puma 4 EBOs2 AND for N
Slide 47: Optimizing the leakages in fashion
Optimizing the leakages in fashion Solutions Sophisticated data mining to reduce COD orders and encouraging online payments Returns Fashion e-commerce returns are a growing Partnering with brands and creating a problem for online retailers due to various standard size guide enabling shoppers to be f
Slide 48: Key Growth Strategies
Key Growth Strategies Core Value Proposition driving our growth 1 2 3 4 5 Acquiring and retaining Strengthen external Exploring new operating Accelerate Owned Technology led customers brand assortment models Brands Strategy innovations across the platform 47
Slide 49: Key Growth Strategies: Acquiring and retaining customers
Key Growth Strategies Core Value Proposition driving our growth 1 Acquiring and retaining customers 48
Slide 50: Targeted Approach to Customer Acquisition
Targeted Approach to Customer Acquisition % 3-year CAGR 137% 504 177% 2.5 1,2 Annual Unique Transacting 40% Visits(1) (Mn) 38 0.1 GMV driven by Customers(1) existing customers FY20 FY23 (Mn) FY20 FY23 119% 17.3 4,507 3,474 1 ~INR 9K Monthly Average Annual Spend by our 1.7 AOV@MRP(1) (Rs) average cus
Slide 51: Key Growth Strategies: Strengthen external brand assortment
Key Growth Strategies Core Value Proposition driving our growth 2 Strengthen external operating brand assortment models 50
Slide 52: Strong connect with brands to offer differentiated curated collections
Strong connect with brands to offer a differentiated curated collections Nykaa Fashion celebrates the launch of Global Store, bringing the hottest styles and latest trends to India from around the world. Fashion and Lifestyle event providing brands with an exclusive platform to showcase their collec
Slide 53: Brand partnerships and key business shifts have been our levers
Brand partnerships and key business shifts have been our levers Fashion GMV (Rs Mn) Brand Count (#) SKUs (Mn) Business Model Mix* Marketplace Inventory/JIT/SOR 140% 3-year CAGR 3,000 2,850 9 25,696 12% 8 2,500 7.1 7 2,000 6 81% 5 1,500 4 88% 1,000 3 415 2 500 1,868 0.05 1 19% 0 0 FY2020 FY2023 FY202
Slide 54: Our pillars behind the scale and growth we've seen
Our pillars behind the scale and growth we’ve seen Growth of key brands popular with the Indian audience Global Store – bringing unique international brands to India (1) ~650+ (1) Brands / Retailers ~700 like Alo, Revolve, Brands including Cider, Little Mistress Puma, Biba, Marks & Spencer Forever N
Slide 55: Key Growth Strategies: Exploring new operating models
Key Growth Strategies Core Value Proposition driving our growth 3 Exploring new operating models 54
Slide 56: Expanding across channels & creating their own identity
Expanding across channels & creating their own identity Nykd – 4 EBOs and 900+ General Trade Outlets Nykaa Fashion – 4 MBOs D2C Websites Average MBO store size of 2,938 sq. ft. 20Dresses, RSVP, Likha, Gajra Gang – 118 3P MBOs Average 3P MBO store size of 100 sq. ft. Average EBO store size of 650 sq.
Slide 57: Flexible fulfillment models supported by technology
Flexible fulfillment models supported by technology While majority of our business is driven by marketplace, we’ve built the tech and ops capabilities in-house to cater to our customers via inventory-led and other hybrid models Our Capabilities Marketplace B2B2C Inventory Led List Finds and Buys fro
Slide 58: Key Growth Strategies: Accelerate Owned Brands Strategy
Key Growth Strategies Core Value Proposition driving our growth 4 Accelerate Owned Brands Strategy 57
Slide 59: House of Brands: Offering curated assortment across all categories
House of Brands: Offering curated assortment across all categories India Fashion Market – Category wise breakup 58
Slide 60: House of Brands: Curated offering across all categories
House of Brands: Curated offering across all categories Women Western Wear Women Indian Wear Women Lingerie and Athleisure Jewellery & Accessories Men’s Innerwear & Athleisure Home 59
Slide 61: House of Brands: Strengthening our presence across varied categories
House of Brands: Strengthening our presence across varied categories Over time, we have created the ecosystem to build owned brands in-house and scale them consistently Acquired one of the hottest D2C athleisure Brand Types FY20 FY21 FY22 FY23 brands in India to tap into increased demand Acquired fo
Slide 62: House of Brands – The Growth of Our Portfolio
House of Brands – The Growth of Our Portfolio Brands (#) Styles ('000) GMV ( Rs Mn) Owned Brands GMV from 3P channels 12.5% 12.9% 14 13 25.0 3,313 50.4% 12 21.0 48.2% 20.0 10 8 15.0 43.1% 6 10.0 4 1 5.0 233 2 1.4 0 0.0 FY2020 FY2023 FY2020 FY2023 FY2021 FY2022 FY2023 Women Lingerie Jewellery & Men I
Slide 63: House of Brands: Brands with National Traction
House of Brands: Brands with National Traction Twenty Dresses – Annual GMV INR 1,500 Mn+ Nykd – Annual GMV INR 850 Mn+
Slide 64: Key Growth Strategies: Technology led innovations
Key Growth Strategies Core Value Proposition driving our growth 5 Technology led innovations across the platform 63
Slide 65: Engaging customers on and off the platform
Engaging customers on and off the platform Watch & Buy Editor’s Picks Events and Launches Simplifying styling tips, education on latest trends and launches ~3 Mn by constantly revamping content to commerce properties like Customizing events for global brand Social Watch & Buy and Editor’s Picks part
Slide 66: Enhancing the buying journey across touchpoints
Enhancing the buying journey across touchpoints Personalization Refund to Wallet Recommendation Engine Launching hyper personalised Enabling customers to get instant Revamping recommendation widgets across recommendations to customize the refunds to their Nykaa wallets – different landing pages to h
Slide 67: Investing in tech and infrastructure to maintain momentum
Investing in tech and infrastructure to maintain momentum Enabling new marketplace capabilities to increase inventory depth and width for customers from global brands, offline retailers and other marketplace partners while improving operational efficiency Global drop-ship Omnichannel integration Inc
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Slide 69: Large Addressable Market of ~USD 1-2 Bn
Large Addressable Market of ~USD 1-2 Bn CAGR % eB2B Penetration 10% USD 31 Bn(1,2) (% of Overall B2B Retail, 2021) China 10-15% USD 10 Bn, 32% UK 7-10% USD 19 Bn(1,2) USD 3Bn, US USD 9 Bn, 4-7% 15% 30% USD 5 Bn, 26% Brazil KIOSK 1-5% India < 1% Growth Headroom for India USD 11 Bn, USD 12 Bn, 59% 38%
Slide 70: Current Distribution Ecosystem Suffers from Many Inefficiencies
Current Distribution Ecosystem Suffers from Many Inefficiencies Distributor Brand/ Retailer Manufacturer Stockist Sub-Stockist Wholesaler Fragmented Retailer Remains Not a level playing Distribution Underserved field Little Innovation/ Poor fill rates, poor credit Dominance of large FMCG Capital inf
Slide 71: Priority Focus on Tier 2+ Cities
Priority Focus on Tier 2+ Cities Total Retail Market Size: USD 865 Bn* # Cities % Pop. Our Our Competitiveness Business* 8 < 7% 16% Reasonably Well-Served Tier 1 16% Semi-served; Priority Tier 2+ ~4000 ~33% 84% Market 38% Under-served; Not an Rural NA > 60% 0% immediate focus area 47% *Source: Redse
Slide 72: Superstore – Serving the Underserved
Superstore – Serving the Underserved Brand/ Retailer Manufacturer Focus on BPC & Focus on Underserved Wellness Retailers i.e. Beauty centre, pharmacy 1 DTC/ Challenger Brands – Access to 1 Full Assortment a large Retailer Base 2 2 Large FMCG Brands – Stock Availability ▪ Top-up Purchase & Tail SKUs
Slide 73: Our Right to Win: Leverage our B2C Expertise to develop High Margin Beauty Business
Our Right to Win: Leverage our B2C Expertise to develop High Margin Beauty Business for the Retailer Consumer Penetration still Underdeveloped Higher Margin Potential for Retailers in BPC Face Cleansing 22% Packaged Food 20-25% Body Lotion 14% Home Care 10-15% Hair Conditioner 7% Beverages 10-15% Su
Slide 74: We have proven Execution Capability
We have proven Execution Capability # Onboarded Retailers # Brands Listed 1,51,885 190 134 38,095 FY22 FY23 FY22 FY23 # App Visits (Mn) # Orders (‘000) 0.7 729 0.3 49 FY22 FY23 FY22 FY23 73
Slide 75: Leveraging Tech to Serve the Underserved
Leveraging Tech to Serve the Underserved Estimated Delivery Date & Cart Recommendation Best Price Net Landing Price 74
Slide 76: Built our BDE with high level of Sales Rigour enabled by Tech (Disha App)
Built our BDE with high level of Sales Rigour enabled by Tech (Disha App) Location Based Check-in Retailer List Mapping Personalised Smart Tasks 75
Slide 77: International Expansion
International Expansion
Slide 78: Nykaa Partnered with the Apparel Group
Nykaa Partnered with the Apparel Group Strategic Alliance between FSN International (55% stake) and Apparel group (45% stake) to undertake X an omnichannel, multi branded beauty retail operation business in the countries which are part of Gulf Cooperation Council (GCC) through an entity incorporated
Slide 79: One of the Most Exciting Demographics Globally
One of the Most Exciting Demographics Globally 78
Slide 80: Strong Future Outlook
One of the Most Exciting Demographics Globally LARGE BEAUTY MARKET WITH HIGH ACCELERATION POTENTIAL Size of beauty retail market for GCC as per Red Seer estimates is in excess of 30B USD STRONG FUTURE OUTLOOK • 4 year CAGR for online BPC market (UAE+KSA) is 22% while it is 5% for offline market*. •
Slide 81: Nysaa brand names
“woman” in Arabic “goal” or “beginning” in Greek 80
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Slide 83: Consistent delivery of revenue
Consistent delivery of revenue All Values in Rs million % 3-Year CAGR % Margin % to Revenue 43% 42.9% 44.3% Gross Profit 51,438 Revenue 22,781 17,675 7,581 FY20 FY23 FY20 FY23 4.7% 5.0% -0.8% 0.7% EBITDA PBT 384 2,560 -145 838 FY20 FY23 FY20 FY23 82
Slide 84: Investing ahead of the curve
Investing ahead of the curve(3) bps 3-year change Total Operating Cost(1,2) Fulfilment Expense(1) 116 bps -94 bps 38.1% 39.3% 9.8% 8.8% FY20 FY23 FY20 FY23 Employee Expense(1) Marketing Expense(1) 5 bps 108 bps 11.4% 11.5% 9.6% 8.5% FY20 FY23 FY20 FY23 1. As % of Revenue 2. Total Operating Expense a
Slide 85: Cost levers & margin drivers
Cost levers & margin drivers Contribution Profit (Rs Mn) Fulfiment Expenses Marketing Expenses 48% 12.8% 11.4% 11.5% 10,476 8.9% 6,658 9.8% 10.5% 4,979 8.8% Early flow through of 3,247 6.9% efficiencies visible with scope for more improvement as benefit of the early investment FY2020 FY2021 FY2022 F
Slide 86: Consolidated Financials – FY23
Consolidated Financials – FY23 (%) YoY Growth Revenue from operations Gross Profit EBITDA PBT (Rs Mn) (Rs Mn) (Rs Mn) (Rs Mn) 51,438 22,781 2,560 384 (36%) (39%) (57%) (-19%) Net block of fixed assets* Working Capital** (Rs Mn) Fixed Assets Turnover*(x) Working Capital turnover** (x) (Rs Mn) 4,178 1
Slide 87: Vertical Performance: Business Wise
Vertical Performance: Business Wise (All amounts in ₹ million, unless otherwise stated) FY23 FY22 Particulars BPC Fashion Others Total BPC Fashion Others Total GMV 66,491 25,696 5,245 97,433 50,089 17,516 1,727 69,332 Growth 33% 47% 204% 41% 49% 168% 344% 71% NSV 40,765 7,444 2,416 50,625 30,823 5,7
Slide 88: Profit & Loss Statement
Profit & Loss Statement (All amounts in ₹ million, unless otherwise stated) Quarter Ended Year Ended Particulars YoY YoY Mar-23 Mar-22 Mar-23 Mar-22 Growth Growth Revenue from Operations 13,017 9,733 34% 51,438 37,739 36% Cost of goods Sold 7,259 5,481 32% 28,657 21,300 35% Gross Profit 5,758 4,253
Slide 89: Investment in infrastructure and retail
Investment in infrastructure and retail % 3-year CAGR (%) Physical Stores Warehouse Office Space Physical Stores Area (Lacs Sq. ft.) Warehouse Capacity (Lacs Sq. ft.) Capacity (Lacs Sq. ft.) 39% 39% 28% 1.4 14.6 1.9 1.0 8.2 1.1 0.6 0.9 0.5 5.5 5.8 0.7 FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 FY20 FY2
Slide 90: Building a strong technology platform, technology employee cost grew 73% YoY
Building a strong technology platform, technology employee cost grew 73% YoY Technology employee count and cost FY2022 FY2023 computed as a % of core employees(1) 389 482 18.9% 22.4% 24% 2,063(1) 2,152(1) Technology Employee Headcount (#) Tech Headcount YoY Growth % Rs 831 Mn Rs 1,441 Mn 29.7% 33.2%
Slide 91: Outlook
Outlook Growth Profitability Technology Strategic Investment Maintaining our growth Achieve better leverage Scale up our tech Investment in brand ahead of the market on our operating cost infrastructure to deliver building, and best in class customer capabilities building and partner experience 90
Slide 92: Board of Directors
Board of Directors Falguni Nayar Sanjay Nayar Anchit Nayar Adwaita Nayar Executive Chairperson and Director Non-Executive Director Executive Director Executive Director Anita Ramchandran Milind Sarwate Seshashayee Sridhara Pradeep Parameswaran Independent Director Independent Director Independent Di
Slide 93: Thank you
Thank you 92
Slide 94: Glossary
Glossary Term Description Unique customers identified by their email-id or mobile number who have placed at least one Order on our websites, mobile applications or physical stores during the last 12 months ended as on Annual Unique Transacting Customers measurement date. Annual Transacting Customers
Slide 95: Key Operational Metrics
Key Operational Metrics Quarter Quarter Ended Year Ended Ended Mar-23 Metric Unit Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 FY22 FY23 YoY Growth YoY growth Number of Visits Beauty and Personal Care Million 205 211 221 204 222 234 250 231 14% 841 937 11% Fashion Million 98 115 115 113 1