Nothing Special   »   [go: up one dir, main page]

VFL Presentation Final Q4-and-FY23

Download as pdf or txt
Download as pdf or txt
You are on page 1of 27

Investor Presentation Apr 2023 Vedant Fashions Limited •

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 securities, and shall not form the basis or be relied on in
connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document
containing detailed information about the Company.

This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or
warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation.
This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission
from, this Presentation is expressly excluded

Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively
forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and
assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various
international markets, the performance of the industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future
levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its
exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results
expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking
statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third-party
statements and projections. All Maps used in the presentation are not to scale. All data, information, and maps are provided "as is" without warranty or any representation of
accuracy, timeliness or completeness.

Vedant Fashions Limited • 2


Content

About Vedant Fashions 05

Key Investment Highlights/ Our Strengths 09

Our Growth Strategy 12

Q4 & FY23 Key Highlights, Update and Financial 14


Performance

Financial Summary 24

3
Content

About Vedant Fashions 05

Key Investment Highlights/ Our Strengths 09

Our Growth Strategy 12

Q4 & FY23 Key Highlights, Update and Financial 14


Performance

Financial Summary 24

4
Introduction to Vedant Fashions
Indian Wedding and Celebration Wear Brands

Headquartered in Kolkata,
One-stop destination with wide
incorporated in 2002 by Mr. Ravi
product portfolio for every
Modi, Vedant Fashions offers Indian
celebratory occasion; aspirational
wedding & celebration wear for
yet value-for-money offering
men, women & kids

Largest company in India in men’s


Omni-channel network of EBOs,
Indian wedding & celebration
MBOs, LFS & Online (own
wear by Revenue, OPBDIT1 &
website, mobile app & leading
PAT*. Commands dominant
lateral e-commerce platforms)
position in conventionally
unorganized market

Delivers aristocratic &


Manyavar brand is category
seamless customer experience
leader in branded Indian wedding
via aesthetic franchisee-
& celebration wear market with
owned EBOs
pan-India presence*

Growing presence in women’s Retail footprint (Q4 FY23) of


Indian wedding & celebration 1.47 mn sq. ft. across India (633
wear with Mohey - Largest EBOs2 in 245 cities & towns in
brand by number of stores with India) and Overseas (16 EBOs in
pan-India presence* USA, UAE, Canada & U.K.)

Source: *Crisil Report; As of FY20 (latest available); Note: (1) OPBDIT is Operating profit before depreciation, interest & tax; (2) Includes 112 shop-in-shops (SIS)
Vedant Fashions Limited • 5
What makes Manyavar Special

Aspirational Yet Value for Money Multi-brand Product Portfolio Strong Control Over Entire Ecosystem
▪ Strong design capabilities with data-driven/ AI backed
▪ Aspirational Brand with Aristocratic & decision-making and demand forecasting
seamless customer experience
▪ One-stop destination with wide product ▪ Tech-driven unique supply chain & inventory mgmt.
▪ Uniform pricing across online & offline portfolio for men, women & kids catering to with Automated Replenishment System at pin code
channels in India all celebratory occasions across price points level
▪ No discounts/ end-of-season sales for
▪ Low level of obsolete & dead stock ▪ Integrated secondary sales network with full visibility of
Manyavar brand products sold at our stores
▪ Multi Decade growth Opportunity for the ▪ 52 Week Design collection Model
▪ Having First mover advantage, VFL scaled up and
Category from here organized highly unorganized and fragmented category

Curated Marketing Strategy with


Multi Channel Presence Industry Leading Economics Strong Corporate Governance

▪ World Class Financial Matrix in apparel retail


being largest company in India in men’s Indian ▪ Experienced management with rich functional
▪ Emotional connect with theme-based wedding & celebration wear by Revenue,
campaigns expertise
OPBDIT & PAT*
▪ Celebrity brand ambassadors ▪ Big 4 statutory auditor coupled with eminent
▪ Asset light & franchisee-led EBO distribution Board of Directors
▪ Omni-channel network with pan-India model with high cash conversion ratio
presence ▪ Embraces ESG & promotes CSR
▪ Leads the peer set in terms of financial &
operational metrics

Source: *Crisil Report; As of FY20 (latest available)


Vedant Fashions Limited • 6
Evolution Over the Years
• Launched Twamev
• Strategic (Men’s premium wear
Acquisition of brand) Celebration
Brand Manyavar Surpassed >INR Launched Mohey Mebaz • Crossed INR 10,000 mn Wear Partner in
started operations via 1st EBO in 1,000 mn EBO (Women’s Celebration • Kedaara Capital EBO revenue & 1 mn sq. Femina Miss
predecessor entity Bhubaneshwar revenue Wear label) invested ft. of EBO presence India 2021

1999 2008 2012 2015 2017 2019 2021

2002 2011 2013 2016 2018 2020 2022

Incorporated Vedant 1st Official Indian • Crossed INR • Launch of Launch of Listing on Stock
Fashions Pvt. Ltd. International Wear Partner of 3 5,000 mn in EBO Manthan (Value Manyavar Exchanges
store in Dubai IPL teams revenue Celebration Wear mobile app
(UAE) • 1st Store in USA label)
• Official Sponsor of
2 IPL teams

Vedant Fashions Limited • 7


Content

About Vedant Fashions 05

Key Investment Highlights/ Our Strengths 09

Our Growth Strategy 12

Q4 & FY23 Key Highlights, Update and Financial 14


Performance

Financial Summary 24

8
Key Investment Highlights/ Our Strengths

Large & growing Indian wedding & celebration


wear market driven by an increased spending
on such wear
Technology-based supply chain network with
strong processes in place
Market leader in Indian celebration wear
market with diversified brand portfolio across
value spectrum for entire family
Experienced & professional leadership team

Unique business model combining asset-light


brand play along with seamless purchase
experience; no end of season sales/ discounts
for Manyavar brand Experienced Board of Directors aided by
professional partners

Attractive marketing initiatives of creating


connections through emotions Strong growth trajectory with industry leading
margins, return metrics & healthy cash
generation

Widespread pan-India multi-channel presence


through EBO network with scalable franchisee
model

Vedant Fashions Limited • 9


Diversified Brand Portfolio Catering to Aspirations of Entire Family

Brands

Year 19991 2015 2019 20172 20183

Target Group Men, Boys Women Men Men, Women, Kids Men

Price Spectrum Mid-Premium Mid-Premium Premium Mid-Premium to Premium Value

Distribution EBOs, MBOs, LFS, E-commerce EBOs & E-commerce EBO’s EBO’s MBOs, LFS, E-commerce

❖ Men: Kurta, Indo-western,


❖ Kurta set Sherwani, Jacket, Suit,
❖ Men: Kurta, Indo-western, ❖ Lehenga
❖ Sherwani Accessories
Sherwani, jacket, accessories ❖ Saree
Product Portfolio ❖ Indo-western ❖ Women: Lehenga, Saree, Suit, ❖ Kurta
❖ Kids: Kurta set, jacket set, ❖ Gown
❖ Suit Kurti
Indo-western, accessories ❖ Accessories
❖ Accessories ❖ Kids: Lehenga, Gown, Frock,
Kurta, Suit, Accessories

❖ Largest brand by number of


❖ Category leader in branded ❖ South India focused regional
stores, with pan-India
Indian wedding & celebration brand; strong presence in AP ❖ Large blend of product
presence focusing women’s ❖ Upscale consumer experience
wear market with a pan-India & Telangana designs at value prices
Indian wedding & celebration
presence*
wear* ❖ Cross-sell premium offering
❖ One-stop shop for ethnic
Key Attributes ❖ Other brands in the category ❖ Benefit from Manyavar’s to Manyavar customers ❖ Aims to cater to sizable
celebration need of entire
only 1/7th the size of leadership position & pan- number of mid-market
family
Manyavar India EBO footprint ❖ Priced between Manyavar & weddings & other
❖ Celebrity brand ambassador & luxury boutique brands ❖ Rich heritage brand with celebrations
❖ No end of season sales or
campaigns like “#Dulhan wali strong legacy
discounts for Manyavar brand
feeling”

Source: Crisil Report; *As of FY20 (latest available); Note: (1) Brand ‘Manyavar’ started operations via predecessor entity in 1999; (2) Brand ‘Mebaz’ was started in 2002 but was acquired by Company in 2017;
(3.) Large scale operations commenced after refreshed launch in 2018;
Vedant Fashions Limited • 10
Content

About Vedant Fashions 05

Key Investment Highlights/ Our Strengths 09

Our Growth Strategy 12

Q4 & FY23 Key Highlights, Update and Financial 14


Performance

Financial Summary 24

11
Our Growth Strategy

01 Retail Expansion within and outside India

02 Up-selling and cross-selling initiatives

03 Enhancement of brand appeal through targeted marketing initiatives

04 Significant potential and space for growth of our emerging brands

05 Disciplined approach towards acquisitions

Vedant Fashions Limited • 12


Content

About Vedant Fashions 05

Key Investment Highlights/ Our Strengths 09

Our Growth Strategy 12

Q4 & FY23 Key Highlights, Update and Financial 14


Performance

Financial Summary 24

13
Company key Performance Highlights
Revenue from Operations PAT
Gross Margin % EBITDA Margin % PAT Margin %
(Y-o-Y Growth) (Y-o-Y Growth)
Q4: 66.0 % Q4: 50.2 % Q4: 31.9 %
Q4: 15.3 % Q4: 22.7 %
FY: 67.4 % FY: 50.1 % FY: 31.7%
FY: 30.2 % FY: 36.3 %

❖ Company expanded its retail footprint presence by adding ~75 k sq. ft. retail area in Q4FY23 and 2.04 lacs sq. ft. retail area in FY23, with total retail

presence of 1.47 mn sq. ft. as of Mar 2023; Company also expanded its international presence with new stores in London (UK) and Canada in Q4 FY23,

and has presence in 4 International Countries (USA, UAE, Canada and UK);

❖ Company recorded retail growth (Sale of our Customers) of 26.3% in FY23 as compared to FY22, and retail growth (Sale of our Customers) of 47.1% in

FY23 over FY20;

❖ Company recorded retail growth (Sale of our Customers) of 21.2% in Q4 FY23 as compared to Q4 FY22, and retail growth (Sale of our Customers) of 45.8%

in Q4 FY23 over Q4 FY20;

❖ Company recorded SSSG growth of 14% in Q4 FY23 compared to Q4 FY22, and SSSG growth of 16.2% in Q4 FY23 over Q4 FY20;

❖ Company recorded SSSG growth of 18.1% in FY23 compared to FY22, and SSSG growth of 17.6% in FY23 over FY20;

❖ Company has achieved ROCE of 95.3% in FY23 and cash conversion ratio (Operating cash flow over PAT) of 105% in Q4 of FY23, and 83% in FY23

Vedant Fashions Limited • 14


Wide Pan-India Reach and Presence including International Markets

Presence (As of FY23) Net Rollout (Q4 FY23) Net Rollout (FY23)

1.47 mn Sq. ft. 75 k Sq. ft. 204 k Sq. ft.


EBO’s Area*
(Including 36K area of Intl. Stores in 4 Countries) EBO’s Area (Including 5k area of Intl. EBO’s) EBO’s Area (Including 11.4k area of Intl. EBO’s)

649 9 54
EBO’s* (Including 16 Intl. EBO’s) EBO’s (Including 2 Intl. EBO’s) EBO’s (Including 4 Intl. EBO’s)

245
Cities and towns in India

Note: 1.* Global EBO’s Area and count including shop-in-shops (SIS); EBO’ presence in 12 International Cities in 4 Countries of USA, UAE, Canada and U.K. Vedant Fashions Limited • 15
Key Retail Highlights
INR in mn

Retail Performance Vs FY23 Retail Performance Vs FY20


(Sale of our Customers1) across Channels (Sale of our Customers1) across Channels

Q4 FY’23 Vs Q4 FY’22 FY’23 Vs FY’22 Q4 FY’23 Vs Q4 FY’20 FY’23 Vs FY’20

+21.2% +26.3% +45.8% +47.1%

4,827 18,614 4,827 18,614


3,981 14,736
3,311 12,652

Q4 FY’22 Q4 FY’23 FY’22 FY’23 Q4 FY’20 Q4 FY’23 FY’20 FY’23

VFL recorded SSSG2 of +14% in VFL recorded SSSG2 of +18.1% VFL recorded SSSG3 of +16.2% VFL recorded SSSG3 of +17.6%
Q4 FY’23 over Q4 FY’22 over FY’22 in Q4 FY’23 over Q4 FY’20 over FY’20

Note: (1). Sales of our customers comprises of sales of products of our brands (a) made by our EBOs, LFSs and online channel customers, and (b) made by us to MBOs (including shop in - shops) and certain lateral e -commerce platforms
customers at RSP; (2) SSSG stores for comparing with Q4 FY’22 and FY22 includes stores open on or before 31st Mar’ 2021 and running as on 31st Mar’ 2023; (3) SSSG stores for comparing with Q4 FY20 and FY20 includes stores open on
or before 31st Mar’ 2019 and running as on 31st Mar’ 2023. Vedant Fashions Limited • 16
Key Financial Highlights (Consolidated)
INR in mn
Q4 FY23 YoY Analysis

Revenue from Operations Gross Profit1 & Gross Margin EBITDA2 & EBITDA Margin PAT & PAT Margin

Margins → 66.4% 66.0% Margins → 49.6% 50.2% Margins → 29.9% 31.9%

+15.3% +14.7% +16.7% +22.7%


3,416 2,255 1,713 1,089
2,963 1,967 1,469 887

Q4 FY22 Q4 FY23 Q4 FY22 Q4 FY23 Q4 FY22 Q4 FY23 Q4 FY22 Q4 FY23

FY23 YoY Analysis

Revenue from Operations Gross Profit1 & Gross Margin EBITDA2 & EBITDA Margin PAT & PAT Margin

Margins → 66.9% 67.4% Margins → 50.1% 50.1% Margins → 30.3% 31.7%

+30.2% +31.2% +30.1% +36.3%


13,549 9,126 6,783 4,291
10,408 6,958 5,213 3,149

FY22 FY23 FY22 FY23 FY22 FY23 FY22 FY23


Note: (1) Gross Profit = Revenue from Operations – Cost of Goods Sold; Cost of Goods Sold = Cost of Material Consumed + Changes in Inventories of finished goods & Work-in-progress + Purchase of stock-in-trade + Job Charges; Gross Margin =
Gross Profit ÷ Revenue from Operations (2) Note for EBITDA = PBT + Finance cost + Depreciation - Interest Income on fixed deposits, bonds & debentures - Dividend Income - Profit on sale of investments - Profit on fair valuation of investments
carried at FVTPL
Vedant Fashions Limited • 17
Profit and Loss Statement Q4 and FY23 (Consolidated)
INR in mn
Quarter ended Year ended Year ended
Particulars Mar 31, 2023 Dec 31, 2022 Mar 31, 2022 31-Mar-23 31-Mar-22
(Unaudited) (Unaudited) (Unaudited) (Audited) (Audited)
Sr.no Income:
I Revenue from operations 3,416 4,414 2,963 13,549 10,408
II Other income 134 100 111 402 499
III Total income ( I + II ) 3,551 4,514 3,074 13,952 10,908
IV Expenses:
Cost of materials consumed
- Raw materials 306 385 380 1,436 1,152
- Accessories & packing materials 45 52 55 191 176
Purchases of stock-in-trade 566 721 532 2,281 1,706
Changes in inventories of finished goods, stock-in-trade and work-in-progress 47 16 (224) (389) (366)
Employee benefits expense 148 153 166 566 575
Finance costs 84 75 86 315 284
Depreciation and amortisation expense 274 251 269 1,038 944
Other expenses 625 843 613 2,755 2,206
Total expenses 2,096 2,495 1,878 8,193 6,678

V Profit before tax (III-IV) 1,455 2,019 1,196 5,758 4,230

VI Tax expense/(credit):
- Current tax 348 511 308 1,445 1,057
- Deferred tax charge/(credit) 18 5 1 23 24
VII Profit for the period / year (V-VI) 1,089 1,504 887 4,291 3,149

Vedant Fashions Limited • 18


Consolidated Balance Sheet INR in mn
As at As at
INR mn
March 31, 2023 March 31, 2022
Assets
Non-current assets
Fixed Assets (Tangible and Intangibles) 2,416 2,480
Right-of-use assets 2,791 2,667
Capital work-in-progress 20 -
Investments 1,694 1,003
Other non-current assets 1,362 1,207
Total non-current assets 8,282 7,358
Current assets
Inventories 1,736 1,430
Trade receivables 4,734 3,967
Investments including Cash and bank Balance 6,277 4,160
Other current assets 630 770
Assets held for sale - 13
Total current assets 13,378 10,340
Total assets 21,660 17,698
Equity and Liabilities
Equity
Equity share capital 243 243
Other equity 13,756 10,585
Total equity 13,999 10,827
Non-current liabilities
Lease liabilities 1,958 1,934
Deposits 1,064 912
Deferred tax liabilities (net) 197 168
Other Liabilities & Provisions 475 423
Total non-current liabilities 3,695 3,438
Current liabilities
Lease liabilities 975 853
Trade payables 859 730
Other current liabilities 2,132 1,849
Total current liabilities 3,967 3,432
Total equity and liabilities 21,660 17,698 Vedant Fashions Limited • 19
Consolidated Cash Flow
INR in mn
Year ended Year ended
INR mn
31-Mar-23 31-Mar-22
Cash flow from operating activities
Profit before tax 5,758 4,230
Operating profit before working capital changes 6,739 5,050
Movement in working capital (569) (450)
Cash generated from operations 6,170 4,600
Net income tax (paid) (1,472) (1,090)
Net cash from operating activities 4,698 3,510
Cash flow from investing activities
Purchase of property, plant and equipments, capital work in progress & intangible assets (including capital advances) (45) (23)
Proceeds from sale of property, plant and equipments & intangible assets (including advance received) 101 132
Net proceeds from sales / (purchase) of investments (2,492) 37
Interest and dividend income and other items 116 418
Net cash from/ (used) in investing activities (2,319) 565
Cash flow from financing activities
Payment of Lease Liability (1,115) (834)
Buy back of shares - (3,313)
Dividend paid (1,214) -
Interest paid other than lease & other items (3) (4)
Proceeds from fresh equity shares issuance against vested ESOPs in Holding Company 15 47
Net cash used in financing activities (2,318) (4,105)
Net increase / (decrease) in Cash and cash equivalents 61 (30)
Cash and cash equivalents at the beginning of the period 36 66
Cash and cash equivalents at the end of the period 97 36

Vedant Fashions Limited • 20


Marketing Campaign

Vedant Fashions Limited • 21


Marketing Initiatives
Marketing Initiatives Theme- based Marketing Ad Campaigns

Commonwealth Games Official


Digital integration with TVF
Wedding Dulhan Wali Feeling
Indian Style Partner
Taiyaar Hokar Aaiye Launch of New Brand Ambassador
Kiara Advani

TV- News Channel & T20 World Cup Deal

Festival
Rakhi - Brocode Diwali - Taiyaar Hokar Aaiye

Perimeter Branding Cricket Deal​


Ind Vs Aus & Ind Vs SA​

Vedant Fashions Limited • 22


Content

About Vedant Fashions 05

Key Investment Highlights/ Our Strengths 09

Our Growth Strategy 12

Q4 & FY23 Key Highlights, Update and Financial 14


Performance

Financial Summary 24

23
Long Track Record of Strong Growth Trajectory
INR in mn

Revenue & Sales of Customers Gross Profit1 EBITDA2


Sales of
11,355 12,652 8,362 14,736 18,614 Margins → 65.0% 65.3% 66.8% 66.9% 67.4%
Margins → 42.2% 43.6% 49.9% 50.1% 50.1%
Customers

13,549 9,126 6,783


10,408 6,958 5,213
9,155 5,980
8,007 5,203 3,988
3,380
5,648 3,771 2,817

FY 19 FY 20 FY 21 FY22 FY23 FY 19 FY 20 FY 21 FY22 FY23 FY 19 FY 20 FY 21 FY22 FY23

PBT PAT RoCE (Pre-Tax)3

Margins → 33.8% 34.1% 32.2% 40.6% 42.5% Margins → 22.0% 25.8% 23.5% 30.3% 31.7%

5,758 4,291 95.32%


75.38%
4,230 3,149
3,118 2,366 48.24% 47.80%
2,709
1,764 34.07%
1,819 1,329

FY 19 FY 20 FY 21 FY22 FY23 FY 19 FY 20 FY 21 FY22 FY23 FY 19 FY 20 FY 21 FY 22 FY23


Note: (1) Gross Profit = Revenue from Operations – Cost of Goods Sold; Cost of Goods Sold = Cost of Material Consumed + Changes in Inventories of finished goods & Work-in-progress + Purchase of stock-
in-trade + Job Charges; Gross Margin = Gross Profit ÷ Revenue from Operations (2) EBITDA = PAT + Finance costs + Total tax expense + Depreciation - Other finance income (3) ROCE = Numerator = PBT +
Finance cost – (Interest income on fixed deposits, debentures + Profit on sale of investments + Profit on fair valuation of investments carried at FVTPL + Dividend income from mutual funds) Denominator = Net
worth – (Current investment + Non current investment + Other bank balance) Vedant Fashions Limited • 24
Awards and Accolades
2023 2014
2018
2020
“Entrepreneur Of The Year”
Consumer Products and Retail “Most Admired Retailer of the Year “Fastest Growing Company-maximum
EY “Men’s Indianwear” Marketing & Promotions Campaign” turnover INR 300 crore”
“India Retail Champions Award” Images Excellence Award Images Retail Award ET Bengal Corporate Award
Apparel & Lifestyle category
"Retail Marketing Campaign of the Year “Pioneer in Ethnic Retail Business”
#TaiyaarHokarAaiye” ABP News
ET Now
2022 2017
“Excellence in Business Performance –
Turnover between INR 300 Crore and
“Dream Employer of the Year”
1,000 Crore”
World HRD Congress “Most Admired Fashion Brand of the year:
ET Bengal Corporate Award
Men’s Indian Wear”
“The Best of Bharat” Awards Images Fashion Award 2008-2010
E4M Pride of India

“Most Admired Fashion Brand of the


2019 “Iconic Men’s Ethnic Brand”
year: Men’s Indianwear” 2015 Central Icons
Images Fashion Award

“Transformational Contribution to Indian “National Retailer of the Year”


2021 Apparel and Retail Industry” 4th Annual Indian Retail & Indian eRetail
Ministry of Textiles and the Clothing Awards
Manufacturers Association of India

“Most Admired Retailer of the year Times Business Award for “Excellence in Supply Chain Management 2004-2008
Marketing and Advertising campaign” “Best Men's Ethnic Wear Brand (East)” & Fulfillment”
Mapic India Times Group Images Retail Tech Award
“Retail Marketing Campaign of the Year” “Highest Job Creator - above INR 300
“Best Employer Branding Award” “Best Men's Ethnic Wear Brand”
ET Now crore to INR 1000 crore”
World HRD Congress and Stars Group Central Icons
ET Bengal Corporate Award

Vedant Fashions Limited • 25


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
Crisil Report
as updated by the addendum dated December 2021 prepared by CRISIL

EBO Exclusive brand outlets of a brand or company

ERP Enterprise resource planning system

Apparel worn on special occasions such as weddings; close-knit family functions like puja, house warming, etc.; festivals such as Diwali, Eid, Holi and
Indian wedding & celebration wear
Rakshabandhan; and other events such as Independence Day and Republic Day

Indo-western Combination of traditional Indian ethnic apparel & western wear

LFS Large format stores

MBO Multi-brand outlets

Men’s ethnic wear or apparel Apparel including Kurtas, Indo-westerns, Sherwanis, jackets & other accessories

OPBDIT Operating profit before depreciation, interest & tax

Ready-to-wear Apparel made for general market & sold through shops rather than made to order for an individual customer

RSP Retail selling price

Includes sales of products of Company’s brands (a) made by Company’s EBOs, LFSs & online channel customers, & (b) made by Company to MBOs
Sales of Customers
(including shop-in-shops) & certain lateral e-commerce platforms customers at RSP

SIS (Shop-in-shops) An arrangement where a separate retail space is allocated in stores for retailing Company’s products

Women’s ethnic wear or apparel Apparel such as lehengas, sarees & stitched suits

Vedant Fashions Limited • 26


Thank You
Company : Investor Relations Advisors :

Vedant Fashions Limited Orient Capital (a division of Link Group)


CIN: L51311WB2002PLC094677 Mr. Rajesh Agrawal
+91 99674 91495
Investor Relations Team rajesh.agrawal@linkintime.co.in
investor.relations@manyavar.com
Ms. Rasika Sawant
www.vedantfashions.com +91 95944 57518
rasika.sawant@linkintime.co.in

You might also like