V-Mart Retail Limited — PPTs, 02-05-2025: Investor Presentation

1. Financial Highlights:

Revenue grew 17% YoY to ₹32,539 Mn, driven by 21% growth in V-Mart and 7% in Unlimited segments. Same store sales advanced 11%, supporting 21% memo growth. EBITDA jumped 77% YoY to ₹3,771 Mn (11.6% margin), while PAT soared 147% YoY to ₹458 Mn. Gross margin stayed stable at 34.5%. LimeRoad’s commission income fell 37%, but losses narrowed by 57%. Inventory days improved 10% to 102, and the cash conversion cycle improved to 13 days from 21. Store count reached 497 (412 V-Mart, 85 Unlimited).

2. Strategic Initiatives & Growth Drivers:

The company added 62 net new stores, mainly in Tier 2 and 3 cities, boosting geographic reach. Lease portfolio optimization enhanced capital efficiency and P&L impact. Investments in ESG, including solar power and community programs, reflect sustainability focus.

3. Business Developments:

LimeRoad’s losses continue to shrink due to better marketing efficiency and increased V-Mart contribution to online sales. Offline LimeRoad stores were launched to blend digital and physical presence. Inventory and working capital discipline improved operational efficiency.

4. Market Position & Competitive Advantage:

V-Mart leads value apparel in Tier 2-4 markets, with sales per square foot up 15%. Strong same store sales growth validates customer traction and scale. Multi-format portfolio (V-Mart, Unlimited, LimeRoad) diversifies revenue streams and lowers business risk.

5. Investor Implications:

Robust margin expansion and profit growth signal strong execution and operating leverage. Expansion into under-served markets and LimeRoad’s turnaround add positive growth potential. Investors should watch expense control and capital structure; overall, the company presents a solid growth runway with manageable risks.