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Directors' Report V2 Retail Limited :9th September, 20 1 8 National Stock Exchange of India Limited BSE(Bombay Stock Exchange) Limited Exchange Plaza, Plot No. C/I , G Block, 25"' Floor, "Phiroze Jeejeebhoy Towers", Bandra-Kurla Complex, Dalai Street, Mumbai -- 400001 Bandra (E), Mumbai 4000 51 Stock Code: 532867 Stock Code: V2 RETAIL Dear Sir/Madam Sub: Submission of Annual Report of V2 Retail Limited for FY 17-18 Pursuant to Regulation 34 of the DEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 kindly find the enclosed Annual Report for the financial year 2017-1 8 as required under Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 duly approved and adopted by the members as per the provisions of the Companies Act, 201 3 We request you to take the .record. For V2 Retail Limited M.. (RAn/ 4 + (Chairman and Managing Di DIN: 00491 885 Khasra No. 919,921 ,926,928, Extended Lal Dora Abadi Village Kapashera Teshil Vasant Vihar, South West Delhi -110037 Land Mark:- Fun N Food Village Amusement Park ' Tel.: 011-41771850 E-mail : [email protected], [email protected] ' Website: www.v2retail.com ' CIN : L74999DL2001 PLC147724 Ab India Banega Fashionable V2 Retail Limited | Annual Report 2017-18 Contents 04 08 Corporate V2 Retail’s snapshot presence 09 Milestones 12 14 18 Key Our proactive performance Chairman’s transformation indicators message story 20 24 How we are Our robust enhancing business value for model shareholders Forward-looking statement In this Annual Report we have disclosed forward-looking information to enable investors to comprehend our prospects and take informed investment decisions. This report and other statements - written and oral - that we periodically make contain forward- 34 36 looking statements that set out anticipated results based on the management’s plans and assumptions. We have tried wherever possible to identify such statements by Managing Management using words such as ‘anticipates’, ‘estimates’, risks at V2 discussion ‘expects’, ‘projects’, ‘intends’, ‘plans’, ‘believes’, Retail and analysis and words of similar substance in connection with any discussion of future performance. 43 We cannot guarantee that these forward looking statements will be realized, although we believe we have been prudent in assumptions. The achievement of results is subject to risks, uncertainties and even inaccurate assumptions. Should known or Notice unknown risks or uncertainties materialise, or should underlying assumptions prove inaccurate, actual results could vary 50 101 materially from those anticipated, estimated or projected. Readers should bear this in mind. We undertake no obligation to publicly update Director’s Financial any forward-looking statements, whether as report statements a result of new information, future events or otherwise. Ab India Banega Fashionable At V2 Retail, we are not merely engaged in selling products; we are engaged in the larger exercise of making India fashionable. Our business is not as much about retailing apparel as much as it is about marketing vanity, pride and self-esteem. In view of this, our business is not about how people are as much it is about what they can be. The Company aims to enhance the quality of life through re-engineering of mind and processes. Annual Report 2017-18 1 Ab banega V2 Retail sustainable Market observers said that 2017-18 was a challenging year for retail apparel offtake (demonetisation and GST) V2 Retail proved them wrong by reporting a 19% growth in revenues – one of the most attractive in the Company’s existence Most observers said that the apparel retail sector was possibly the most competitive segment in which to succeed. V2 Retail increased EBITDA margin by 67 bps in 2017-18, validating its superior management. Most analysts felt that consumer retail companies would always be in need of cash resources to drive their businesses. V2 Retail reported a cash profit ofH 54.41 crore in 2017-18 and finished the year with an investible corpus of H90 crore. Most observers felt that revenue growth in a competitive retail sector would inevitably weaken fundamentals. V2 Retail demonstrated profitable growth coupled with strengthening operating efficiencies, creating a scalable platform for multi-year sustainability. 2 V2 Retail Limited Annual Report 2017-18 3 7 things that make V2 Retail a distinctive proxy of India’s retail story 4 V2 Retail Limited Background V2 Retail Limited provides a comprehensive portfolio of product offerings addressing diverse pockets. The Company offers smart, trendy and fashionable apparels across categories at affordable prices under one roof. Experience In 2001, the Company embarked on its journey with the objective of providing a wide merchandise to the masses around affordable prices, leveraging Chairman Ram Chandra Agarwal’s entrepreneurial and business acumen. Presence The Company operated 66 stores in 17 states and 60 cities (primarily Tier-II and Tier-III) covering a total retail area of more than 7.2 lac sq. ft. as on July 31, 2018. This presence has translated into the Company emerging as one of the fastest growing within its sector in India. The Company generally selects to enter locations marked by suitable demographics viz income and retail penetration (locations like Patna, Sagar, Itanagar, Varanasi and Bhubaneswar and others). Merchandise The Company markets apparel and general merchandise – products for the entire family. The superior merchandise translated into revenue per sq. ft of H942 for 2017-18, the best across apparel retailers in India. Positioning The Company addressed the growing needs of the ‘neo middle-class’ and ‘middle-class’ population segments, marked by rising incomes, aspirations and spending. The Company is respected as a price-leader with an average selling price of H278 and average net billing per customer of H736. Financials The Company possesses a robust financial foundation marked by no debt on the Balance Sheet, improving margins and growing revenues. One-stop destination The Company’s product range addresses the fashion aspirations of a ‘neo middle-class’ and ‘middle-class’ population. Annual Report 2017-18 5 Ab India Banega Fashionable... Ananya in Sneh in Ranchi Aarushi in Sujata in Gaya Gorakhpur saw was asked by his Jabalpur was wore a flaming what Katrina Kaif friend’s mother: asked, ‘Did you yellow for the wore in Zindagi ‘Beta, mummy go to Mumbai to first time in her Na Milegi Dobara se poochna buy this?’ when life at 45 – and and wanted tumhaari shirt- she went to loved it. something pant kahaan se office in a new exactly like that. khareedti hai.’ dress. 6 V2 Retail Limited …and how V2Retail is making the transformation happen Harsh in Swagat in Satish in Silchar Zoya in Jamshedpur was Faridabad was believes the best Lucknow made surprised to find told by his wife way to check heads turn close to what ‘When you wear the latest Indian when she wore Hrithik wore in light blues you fashion trend is her new salwar a Filmfare photo look ten years by walking into kameez to the shoot at the V2 younger.’ the V2 Retail kitty party. Retail store. store. Annual Report 2017-18 7 ‘Ab Banega India Fashionable’ is about being at the right place at the right time with the right product around the right price. Uttarakhand (4) Haldwani; Roorkee; Haridwar; Khatima Jammu & Kashmir (2) Kathua; Jammu Uttar Pradesh (14) Gorakhpur 1; Gorakhpur Himachal (2) 2; Azamgarh; Jaunpur; Sitapur; Varanasi; Bhangel; Solan; Kullu Gazipur; Pratapgarh; Mau; Farrukhabad; Lucknow 1; Behraich; Lucknow 2 NCR (3) Mahipalpur; Faridabad; Kepasehra Rajasthan (1) Kota Madhya Pradesh (2) Jabalpur; Sagar Telangana (1) Hyderabad Odisha (6) Karnataka (3) Cuttack; Berhampur; Hubli; Belgaum; Udupi Bhuwaneshwar 1; Jeypore; Bhuwaneshwar 2; Bhuwaneshwar 3 8 V2 Retail Limited Milestones 2001 • Incorporated in 2001 as Vishal Retail Ltd. Arunachal (1) 2007 Itanagar • Went public and raised H110 crore. 2008 • Turnover of approximately H1000 crore. Bihar (16) 2011 Patna; Gaya; Darbhanga; • Brand Vishal sold due to operational losses. Bhagalpur; Bettiah; Arrah; Purnia; • Changed name from Vishal Retail Limited Chapra; Siwan; Bihar Sharif; to V2 Retail Ltd. Begusarai; Sitamarhi; Motihari; Saharsa; Lakhisarai; Motihari; Saharsa; Lakhisarai; Samastipur 2012 • First store in Jamshedpur Assam (3) & Tripura (1) (in reinvented avtar) Guwahati 1; Guwahati 2; Silchar; Agartala 2014 • Stores increased to 16 covering more than 2 lac square feet in retail space. 2016 Jharkhand (5) • Number of stores increased to 22. • Retail space coverage crossed more than Jamshedpur; Ranchi; 2.60 lac square feet. Hazaribagh; Deogarh; Rajdhanwar 2017 • The number of stores increased to 37. • Crossed aggregate 4.60 lac square feet of retail space. West Bengal (2) Kolkata; Hathibagan 2018 • Attracted investment of H760 million from India 2020 Fund II Limited • Stores increased to 49 • Retail space increased to more than 5.56 lac square feet • Turnover crossed H559 crores Annual Report 2017-18 9 ‘Ab Banega India Fashionable’ is about … Recognising that we address possibly the largest transformative fashion opportunity in the world – the biggest change across the largest number Sitting in India but Adapting global being informed about fashion preferences the latest trends in the around non-metro international fashion Indian needs capitals Graduating Indian Recognising that non- Being able to Tier 2 and Tier 3 city metro India is not one recognise that aspirations in line large homogenous preferences – colour, with the
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