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 Disclaimer
This investor presentation has been prepared by V-Mart Retail Limited (“V-Mart”) and does not constitute a
prospectus or placement memorandum or an offer to acquire any securities. This presentation or any other
documentation or information (or any part thereof) delivered or supplied should not be deemed to constitute
an offer.
No representation or warranty, express or implied is made as to, and no reliance should be placed on, the
fairness, accuracy, completeness or correctness of such information or opinions contained herein. The
information contained in this presentation is only current as of its date. Certain statements made in this
presentation may not be based on historical information or facts and may be “forward looking statements”,
including those relating to the general business plans and strategy of V-Mart, its future financial condition
and growth prospects, future developments in its industry and its competitive and regulatory environment,
and statements which contain words or phrases such as ‘will’, ‘expected to’, ‘horizons of growth’, ‘strong
growth prospects’, etc., or similar expressions or variations of such expressions. These forward-looking
statements involve a number of risks, uncertainties and other factors that could cause actual results,
opportunities and growth potential to differ materially from those suggested by the forward-looking
statements. These risks and uncertainties include, but are not limited to risks with respect to its hair care, its
healthcare business and its skin care business.
V-Mart may alter, modify or otherwise change in any manner the content of this presentation, without
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upon as having been authorized by or on behalf of V-Mart. This presentation is strictly confidential.

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 Key highlights : April-June FY’20 vs FY’19 results

• Number of Stores increases to 227

• Revenue grows by 25%
• Same Store Sales growth : Company 5%, Volume 6%
• Sales per sq. feet (per month) : Rs. 874
• Contribution of segment to total revenue :
• Fashion 94%
• Kirana 6%
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• Net profit of Rs. 176 millions
• Ind-AS 116 adoption implemented w.e.f. April 1, 2019

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 Financial Parameters : Q1 FY’20 vs FY’19

Sales (Rs. Mn) Q1'20 Q1'19 Sales Mix (%)

4,530 82.1% 81.7%
90.00%
5,000.00 3,612 80.00%
4,500.00
70.00%
4,000.00
60.00%
3,500.00
3,000.00 50.00%
2,500.00 40.00%
2,000.00 30.00%
1,500.00 11.5% 12.3%
20.00% 6.4% 6.0%
1,000.00
10.00%
500.00
0.00%
0.00
Apparels Non Apparels Kirana
Q1'20 Q1'19

EBITDA (Rs. Mn) PAT (Rs. Mn)

600.00
578
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432 250.00
249

176
500.00
200.00
400.00
300.00 150.00

200.00 100.00
100.00 50.00
0.00
Q1'20 * Q1'19 0.00
Q1'20* Q1'19
*Q1’20 numbers are adjusted on account of IND-AS 116

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 Operational Parameters : Q1 FY’20 vs FY’19

Footfall (lakhs) Conversion Rate (%)

112
59.5% 60.0%
120.0 70.0%
89
60.0%
100.0
50.0%
80.0
40.0%
60.0
30.0%
40.0 20.0%
20.0 10.0%

0.0 0.0%
Q1'20 Q1'19 Q1'20 Q1'19

Transaction size (Rs.) Average Selling Price (Rs)

Total Apparel

800.0
720
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718
300.0
269 264

700.0 250.0 194 187

600.0
200.0
500.0
400.0 150.0
300.0
100.0
200.0
100.0 50.0
0.0 0.0
Q1'20 Q1'19 Q1'20 Q1'19
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 Operational Parameters : April-June FY’20 vs FY’19
Sales per sq feet (per month) Store Count (No’s)
Tier 1 Tier 2 Tier 3 Tier 4
874 874
133
900 140
800 120
700 89
600 100
500 80
400 44
60 38
300
26 30 25 21
200 40
100
20
-
YTD'20 YTD'19 0
YTD'20 YTD'19

Same Store Sales Growth (%) Same Store Volume Growth (%)
5.2%

5.0%
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7.0%
6.0%
4.5%
4.0% 6.0%
3.5% 5.0% 3.5%
3.0%
4.0%
2.5% 1.2%
2.0% 3.0%
1.5% 2.0%
1.0%
0.5% 1.0%
0.0% 0.0%
YTD'20 YTD'19 YTD'20 YTD'19
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 Operational Parameters : April-June FY’20 vs FY’19
Expenses (% of Sales) Retail Space (lakhs Sq feet)
YTD'20 YTD'19

9.0% 8.2% 19
7.8%
8.0% 20.0
7.0% 15
6.0%
5.0% 4.2% 15.0
4.0% 3.4% 3.4% 3.3% 3.0%
3.0% 2.9%
1.8% 10.0
2.0%
0.5% 0.6% 0.5%
1.0%
0.0% 5.0

*
*
a 0.0
YTD'20 YTD'19

Inventory (Days of Sales) Shrinkage (% of Sales)

Total Apparel Non Apparel Kirana
76 78
80 71 1.3% 1.3%
66 68 66
1.4%
70

60
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1.2%
1.0% 1.0%

50 41 1.0%

0.8%
40
0.6%
30
0.4%
20
0.2%
10
0.0%
- Q1'20 Q1'19 YTD'20 YTD'19
YTD'20 YTD'19
*Rent YTD’20 adjusted on account of Ind-AS 116
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 Ind-AS 116 – Leases
Introduction
MCA has mandated a new Accounting Standard IND-AS 116 for Accounting for Leases
with effect from April 1, 2019

Impact

• Requires lessee to recognize leases on Balance Sheet measured at present value of

minimum lease payments to be made over the lease period, as Right of Use Asset
(ROU)
• Interest is added, payments are reduced from lease liability for the future period
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ROU is depreciated over the lease period on SLM basis
• Rentals are replaced by Depreciation & Interest expense, thereby:
o increasing EBITDA (to the extent of rentals),
o increasing Depreciation (future rentals depreciated on SLM) and
o increasing Interest Expense (for interest on future rental liability)

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 Ind-AS 116 : P&L Impact (Rs. in million)

Adjustments to increase / (decrease) in PAT Reported Q1'20 Ind-AS 116 adj. Comparable Q1'20
Revenues 4,531 (2) 4,533
Rent 21 (186) 207
Total Other expenses (incl. Rent) 437 (187) 624
Finance cost 120 118 2
Depreciation & Amortization 220 140 80
PBT 259 (74) 333

Reconciliation
Revenues 4,531 (2) 4,533
EBITDA 578 187 391
PBT 259 (74) 333
EBITDA margin (%) 13% 9%
PBT margin (%) 6% 7%

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 Rs. in million (except per share data)
For the period ended

Particulars 30.06.2019 30.06.2018

(Unaudited) (Unaudited)

I. Revenue from operations 4,530 3,612

II. Other income 21 9
III. Total Revenue (I + II) 4,551 3,621

IV Total Expenses (IV) 4,292 3,247

V Profit before tax (III-IV) 259 374

VI Total tax expense* (VI) 83 125

VII Profit for the year (V-VI) 176 249

VIII Other Comprehensive Income -1 0

IX Total Comprehensive Income for the period (VII+VIII) 175 249

X Earnings per share (before extraordinary items) (of `10 each) (not annualized)
(a) Basic 9.70 13.72
(b) Diluted 9.69 13.68

* Tax expense includes deferred tax

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 Rs. in million (unless stated otherwise)
V-Mart Retail Limited
Balance Sheet as at June 30, 2019 V-Mart Retail Limited
As at As at
30 June, 2019 31 March, 2019 Cash Flow Statement for the period ended June 30, 2019
ASSETS
Non-current as s ets For the period For the period
Property, plant and equipment 1,665.97 1,622.08
ended ended
Right to us e 4,153.39 -
Capital work in progres s 22.21 40.10 30 June 2019 31 March 2019
Intangible as s ets 33.45 32.87
Financial as s ets
Inves tments 98.49 98.25
A. Cash flows from operating activities
Loans 99.71 96.02
Other financial as s ets 13.78 11.77
Deferred tax as s ets (net) 157.20 118.30 Net profit before tax and before extra-ordinary items 258 993
Other non-current as s ets 79.30 83.21
6,323.50 2,102.60
- - Adjustment for: 413 373
Current as s ets
Inventories 3,319.28 3,289.84
Financial as s ets
Inves tments 777.65 508.53 Operating profit before working capital changes 671 1,366
Loans 0.55 0.56
Cas h and cas h equivalents 140.69 123.17
Other bank balances 25.93 42.69 Movements in working capital : 59 (270)
Other financial as s ets 16.54 25.70
Other current as s ets 241.07 225.32
4,521.71 4,215.81 Cash generated from operations 730 1,096
10,845.21 6,318.41
EQUITY AND LIABILITIES - -
Equity Taxes paid (60) (332)
Equity s hare capital 181.53 181.30
Other equity
Security premium 934.51
945.85
Net cash flow from operating activities 670 764
Amalgamation res erve 15.48 15.48
Other res erves 3,145.62 2,961.42
4,288.48 4,092.71 B. Cash flows used in investing activities
Liabilities - -
Non-current liabilities
Financial liabilities Net cash flow used in investing activities* (543) (734)
Borrowings - 0.26
Other financial liabilities 59.95
4,281.27
C. Cash flows from/(used in) financing activities
Employee benefit obligations 54.52 51.08
4,335.79 111.29
- -
Current liabilities
Net cash flow from/(used in) financing activities (109) (44)
Financial liabilities
Trade payables
a) total outs tanding dues of micro enterpris es 202.59 236.26
and s mall enterpris es
b) total outs tanding dues of creditors other 1,287.65 1,246.34
than micro enterpris es and s mall enterpris es Net increase/(decrease) in cash and cash equivalents 18 (14)
Other financial liabilities 471.82 423.40
Employee benefit obligations 27.85 21.16
Short term provis ion 158.60 97.18
Other current liabilities 72.43 90.07 * Investment in fixed assets is `129 million (previous year: `407 million) in net cash flow
2,220.94 2,114.41 used in investing activities
10,845.21 6,318.41

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 States Existing New Closed Total
Assam 6 2 8
Bihar 41 2 43
Stores opened till FY19 214 Chandigarh 1 1
Delhi 3 3
Stores Opened Gujarat 6 6
during FY20 13 Haryana 1 1
Stores closed J&K 5 1 6
00 Jharkhand 17 1 18
during FY20
MP 8 2 10
Meghalaya 1 1
Odisha 10 10
Punjab 3 3
Rajasthan 5 5
UP 85 3 88
Uttarakhand 8 8
West Bengal 12 1 13
Himachal Pradesh 2 1 3
Total no of
Stores 214 13 227

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 S. Retail Space
State
No. (Sq ft)

1. J&K 9,800

2. Bihar 6,481

3. West Bengal 6,139

4. Uttar Pradesh 7,629

Himachal
5. 8,400
Pradesh

6. Assam 5,721

7. Uttar Pradesh 5,793

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 Retail Space
S. State
(Sq ft)
No.

8. Madhya Pradesh 7,441

9. Jharkhand 10,405

10. Assam 6,019

11. Uttar Pradesh 8,626

12. Bihar 8,527

13. Madhya Pradesh 8,717

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 Campaign Period

Pana Sankarant April

Indigo April

Eid Ready May

Jamai Shashti May

Savitri Amavasya May

Rajjo Sankaranti June

EOSS June

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 Thank you
In case of any queries, pls contact the IR Team :
Anand Agarwal – [email protected]
Girish Garg – [email protected]
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Mobile - +91-9899560707

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