V2 RETAIL LTD - RESULTS FOR Q3 FY2017-18 - DECEMBER 2017

V2 RETAIL LTD

RESULTS FOR Q3 FY2017-18

DECEMBER 2017

V2 Retail has announced Good Results for Q3 FY 2017-18 o  a sequential basis and a somewhat FLAT results on YoY basis. However, the future of V2 Retail continues to be attractive, as the company is expanding its stores very fast.

The latest News from V 2 Retail indicate that -

15.01.2018 : V2 Reail will reach 100 stores by March 2019; and

12.12.2017  : V2 Retail will close FY 18 around Rs.600 crores

 

In Dec'16, there was an exceptional Item of Rs.23.31 Cr which had boosted its NET PROFIT for Q3 FY 17. 

 

Before considering this EXCEPTIONAL ITEM for Q3 FY 17, the Profit for Q3 FY 18 was Rs.21.4 cr against the profit of Rs.14.51 for Q3 FY 17. 

 

Thus, the bottom line comparison without the exceptional item is quite favourable in respect of Q3 FY 18. The expansion of stores and the profit margins are reasonably good for V2 retail - to secure its future.

  

The results are as under :

V2 RETAIL	Dec '17	Sep '17	Dec '16	YOY	QOQ
Net Sales	152.35	137.55	152.81	-0.3	10.76
EXPENDITURE
Purchase of Traded Goods	75.2	106.86	85.57	-12.12	-29.63
Increase in Stocks	23.3	-12.23	19.03	22.44	-290.52
Employees Cost	12.38	11.33	8.9	39.1	9.27
Depreciation	2.16	2	1.82	18.68	8
Other Expenses	18.78	21.6	21.97	-14.52	-13.06
P/L Before Other Inc. , Int., Excpt. Items & Tax	20.52	8	15.52	32.22	156.5
Other Income	0.93	0.37	0.5	86	151.35
P/L Before Int., Excpt. Items & Tax	21.45	8.36	16.02	33.9	156.58
Interest	0.05	0.26	1.52	-96.71	-80.77
P/L Before Exceptional Items & Tax	21.4	8.1	14.51	47.48	164.2
Exceptional Items	--	--	23.31
P B T	21.4	8.1	37.82	-43.42	164.2
Tax	7.73	3.11	4.44	74.1	148.55
Net Profit	13.67	4.99	33.38	-59.05	173.95
Equity	33.92	30.92	28.89	17.41	9.7
EPS Before Extra Ordinary
Basic EPS	4.3	1.61	4.08	5.39	167.08
Diluted EPS	4.29	1.56	3.63	18.18	175
EPS After Extra Ordinary
Basic EPS	4.3	1.61	13.52	-68.2	167.08
Diluted EPS	4.29	1.56	12.04	-64.37	175
MP	393
PE	22.90
VOLUME	86,652	ON NSE

Note : This does not constitute a Buy / Sell / Hold recommendation

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V2 Retail Ltd - Results for Q3 FY 2017-18 - Q E DECEMBER 2017

V2 Retail Ltd

Results for Q3 FY 2017-18

Q E DECEMBER 2017

V2 RETAIL ltd has produced excellent results for the third quarter ending December 2017. In the Q3 FY 2016-17, there was an Exceptional Item of Rs.23.31 Crores, which increased the PBT to Rs.34.04 Cr. 

If this amount is removed, the improvement in the Net profit is from  Rs.10.07 cr to Rs.13.67 YoY. 

QoQ anyway, there is a huge improvement of 174 percent. 

Thus, the results  are reasonably impressive and reflect the progress the company is making quarter after quarter. The future seems to hold great promise for most well managed Retail companies.

Looking at the pace of growth of these companies, the current PE almost seems to be not a measure to be looked at all. This PE comes down drastically every quarter.

V2 RETAIL	Dec'17	Sep '17	Jun '17	Mar '17	Dec '16	YOY	QOQ
Net Sales	152.35	137.55	142.26	107.2	152.81	-0.3	10.76
Other Operating Income	0.93	0.37	--	--	0.54	72.22	151.35
Total Income	153.28	137.55	142.26	107.2	152.81	0.31	11.44
EXPENDITURE
Traded Goods	75.2	106.86	108.86	86.34	85.57	-12.12	-29.63
Increase in Stocks	23.29	-12.23	-11.14	-8.89	19.03	22.39	-290.43
Employees Cost	12.38	11.33	10.5	9.07	8.9	39.1	9.27
Depreciation	2.16	2	1.86	1.76	1.82	18.68	8
Other Expenses	18.78	21.6	18.67	18.01	21.97	-14.52	-13.06
P.B Other Inc. , Int., Excpt. Items & Tax	21.4	8	13.5	0.92	15.52	37.89	167.5
Other Income		0.37	0.51	0.21	0.5	-100	-100
Interest		0.26	0.26	0.47	1.52	-100	-100
P.B. Exceptional Items & Tax	21.4	8.1	13.76	0.66	14.51	47.48	164.2
Exceptional Items		--	--	--	23.31
P.B.T.	21.4	8.1	13.76	0.66	34.04	-37.13	164.2
Tax	7.73	3.11	5.07	2.42	4.44	74.1	148.55
Net Profit	13.67	4.99	8.68	-1.75	34.04	-59.84	173.95
Equity	33.92	30.92	30.92	30.92	28.89	17.41	9.7
Basic EPS	4.3	1.61	2.81	-0.66	11.86	-63.74	167.08
Diluted EPS	4.29	1.56	2.7	-0.66	10.73	-60.02	175
MP	403
PE	23.48
VOLUME	232835	AT NSE

Note : This is not a recommendation for BUY / HOLD / SELL

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V2 RETAIL LIMITED - QUARTERLY RESULTS FOR Q/E SEPTEMBER 2017 - Q2 FY 2017-18

V2 RETAIL LIMITED

QUARTERLY RESULTS FOR Q/E SEPTEMBER 2017

Q2 FY 2017-18

Press Release dated December 11, 2017

V2 Retail Limited, India’s fastest growing Retail Company, has declared its Unaudited Financial Results for the Quarter and Half Year ended on September 30, 2017

Financials at a Glance

Revenue:

· Revenue grew by 33% Y-o-Y in Q2FY18 from Rs.103.2 crores to Rs. 137.5 crores.

· Revenue grew by 32% Y-o-Y in H1FY18 from Rs. 211.4 crores to Rs. 279.8 crores.

Gross Profit:

· Gross Profit increased from Rs.28.9 crores to Rs. 42.9 crores in this quarter. Gross margin improved from 28% to 31.2%.

· Gross Profit increased from Rs. 60.2 crores to Rs. 87.5 crores in H1FY18. Gross margin improved from 28.5% to 31.3% during the period.

EBIDTA:

· EBIDTA grew by 43% Y-o-Y in Q2FY18 from Rs.7 crores to Rs. 10 crores. EBIDTA margin improved from 6.8% to 7.3% during the quarter.

· EBIDTA grew by 33% Y-o-Y in H1FY18 from Rs. 19 crores to Rs. 25.4 crores. EBIDTA margin improved from 9% to 9.1% during the period.

Profit Before Tax:

· Profit Before Tax (PBT) grew by 168% Y-o-Y in Q2FY18 from Rs. 3 crores to Rs.  8.1 crores.

· Profit Before Tax (PBT) grew by 99% Y-o-Y in H1FY18 from Rs. 11 crores to Rs. 21.9 crores.

Particulars (₹ in Crores) Q2FY18 Q2FY17 Y-o-Y H1FY18 H1FY17 Y-o-Y

Profit After Tax (PAT):

· Profit After Tax (PAT) grew by 290% Y-o-Y in Q2FY18 from Rs. 1.3 crores to Rs. 5 crores.

· Profit After Tax (PAT) grew by 129% Y-o-Y in H1FY18 from Rs. 6 crores to Rs. 13.7 crores.

Others:

· The company has opened 6 new stores Q2FY18.

· The Company operates 44 stores spread across 13 states with a total retail area in excess of 5.24 lac Sq. Ft.

About V2 Retail Limited

V2 Retail is one of the fastest growing retail company in India and enjoys strong brand equity from customers across segments. The company offers a portfolio of products, including apparel and life style products. V2 stands for ‘Value and Variety’ it sells good quality fashion garments at affordable prices, which suits every individual and household. The Company has a Strong presence in Northern

& Eastern India. The Company caters to the neo middle class group of population living in small towns and cities.

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