V2 Retail Limited

30th July, 2025

BSE Ltd. National Stock Exchange of India Ltd.

Corporate Relation Department, Listing Department
Listing Department, Exchange Plaza, C-1, Block- G,
Rotunda Building, PJ Towers, Bandra Kurla Complex
Dalal Street, Mumbai – 400 023. Bandra (East) Mumbai–400 051
Scrip Code: 532867 NSE Symbol: V2RETAIL

Sub: Investor Presentation for Q1 FY 2025-26

Dear Sir/Madam,

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015,
please find enclosed herewith Investor Presentation for Q1 FY 2025-26.

The investor presentation shall also be uploaded on the website of the Company.

You are requested to kindly take the above on record.

Thanking you,
YOURS FAITHFULLY,
FOR V2 RETAIL LIMITED
Digitally signed by SHIVAM AGGARWAL
DN: c=IN, postalCode=110094, st=DELHI, street=NORTH EAST DELHI, l=NORTH EAST DELHI,

SHIVAM AGGARWAL
o=Personal,
serialNumber=3e8894d34adc5ec70046a4e579ac34acd476836a6caa13e0b6f28c5c680199a5,
pseudonym=613d52fbb3f9237bf08489fac202c3b4,
[Link]=b29f938f6588a23bc19439d3b96d7a4c283a36630f928bf77e25f2e09ab2c161,
email=FCSSHIVAM1994@[Link], cn=SHIVAM AGGARWAL
Date: 2025.07.30 20:06:49 +05'30'

SHIVAM AGGARWAL
COMPANY SECRETARY & COMPLIANCE OFFICER

Encl.: As above

Reg. off.: Khasra No. 928, Extended Lal Dora Abadi Village Kapashera, Tehsil Vasant Vihar, South West Delhi, Delhi-110037
Corporate Off.: 2nd Floor, 13, Sub. Major Laxmi Chand Rd, Maruti Udyog, Sector 18, Gurugram, Sarhol, Haryana 122015
E-mail: customercare@[Link] Website: [Link]
CIN: L74999DL2001PLC147724 Tel.: 011-41771850
Q1 FY26 Performance Highlights (Consolidated)

Revenue Gross Profit EBITDA PAT

Q1FY26
₹ 632.2 Cr +52% ₹ 186.2 Cr +55% ₹ 87.2 Cr +57% ₹ 24.7 Cr +51%
29.5% 13.8% 3.9%

FY25 ₹ 1,884.5 Cr +62% ₹ 551.3 Cr +59% ₹ 257.8 Cr +74% ₹ 72.0 Cr +159%

29.3% 13.7% 3.8%

Manufacturing
Leading the way in Affordable, High Quality Fashion 3
3
Key Operational Highlights Q1 FY26
Same Stores Sales Growth

Same stores sales growth (SSG) stood

at ~5% & normalised SSG was 10% for
Q1FY26.
Sales Per Square Feet Volume Growth

Sales per square feet (PSF) per month was Volume growth for Q1FY26 stood at 50%
₹ 960 in Q1FY26 as compared to ₹ 1,061 (Y-o-Y).
in Q1FY25.
1

Stores Count & Retail Area 2 9

Average Selling Price
216 Stores at the end of Q1FY26
(Opened 28 & Closed 1) 3 8 ASP was ₹ 303 in Q1FY26 as compared to
₹ 260 in Q1FY25.
Total Retail Area ~23.49 lakh [Link].

4 7
Full Price Sales Contribution
Average Bill Value
5 6
MRP Sales at 92% in Q1FY26 as compared
to 93% in Q1FY25. ABV was ₹ 901 in Q1FY26 as compared to
₹ 824 in Q1FY25.

Net Working Capital days

Revenue Mix
Net working Capital days stood at
Men’s Wear 41%, Ladies Wear 29% 34 days down from 37 days as at
Kids Wear 24% & LifeStyle 6% FY25 4
4
Q1 FY26 Financial Highlights (Consolidated)

Revenue (₹ Cr) Gross Profit (₹ Cr)

29.3%

62% 59%
29.7%
1,884
551
1,165 29.5% 55%
52% 346
29.0%
632
415 186

33%
120

Q1 FY26 Q1 FY25 FY25 FY24 Q1 FY26 Q1 FY25 FY25 FY24

EBIDTA (₹ Cr) PAT (₹ Cr)

3.8%
13.7%

(20.1)%
(11.1)%
74% 159%
12.7%
258 2.4%
17.4%
12.9%

13.8% 3.9% 51%

57% 3.9%
13.4% 148
87 55 28
25 16 72

Q1 FY26 Q1 FY25 FY25 FY24 Q1 FY26 Q1 FY25 FY25 FY24

5
5
Q1 FY26 Operational Parameters (Consolidated)

Inventory (Days of Sales) Creditors (Days of Sales)

Net Working Capital (Days of Sales) Return on Equity (ROE)

6
6
Q1 FY26 Operational Parameters

Sales Per Square Feet (PSF) per Month (₹) Same Stores Sales Growth (SSG)

Average Bill Value (ABV) (₹) Average Selling Price (ASP) (₹)

7
7
Q1 FY26 Profit & Loss - Consolidated
Y-O-Y Y-O-Y
Particulars (₹ Cr) Q1 FY26 Q1 FY25 Q4 FY25 FY25 FY24
% Change % Change
Revenue from Operations 632.2 415.0 52% 498.5 1,884.5 1,164.7 62%
Cost of Material Consumed 445.0 280.1 357.4 1,285.3 766.8
Direct Expenses 1.0 14.7 3.4 48.0 51.9
COGS 446.0 294.8 360.8 1,333.2 818.7
Gross Profit 186.2 120.2 55% 137.7 551.3 346.0 59%
GP Margin % 29.5% 29.0% 27.6% 29.3% 29.7%
Employee Expenses 52.6 35.6 42.3 159.2 105.5
Other Expenses # 46.4 29.1 37.6 134.2 92.7
EBIDTA 87.2 55.5 57% 57.8 257.8 147.8 74%
EBIDTA Margin % 13.8% 13.4% 11.6% 13.7% 12.7%
Other Income 0.9 1.4 1.9 7.0 7.5
Depreciation & Amortisation 32.1 21.4 27.9 98.6 76.7
Finance Cost 22.8 13.7 21.4 67.9 47.2
Profit before Tax 33.3 21.8 53% 10.3 98.2 31.4 213%
PBT Margin % 5.3% 5.2% 2.1% 5.2% 2.7%
Tax 8.6 5.4 3.9 26.2 3.6
PAT 24.7 16.3 51% 6.4 72.0 27.8 159%
PAT Margin % 3.9% 3.9% 1.3% 3.8% 2.4%
8
# Other Expenses includes ₹ 2.14 cr on loss of sale of fixed assets 8
Q1 FY26 Profit & Loss – Consol. (Pre Ind As)
Y-O-Y Y-O-Y
Particulars (₹ Cr) Q1 FY26 Q1 FY25 Q4 FY25 FY25 FY24
% Change % Change
Revenue from Operations 632.2 415.0 52% 498.5 1,884.5 1,164.7 62%
Cost of Material Consumed 445.0 280.1 357.4 1,285.3 766.8
Direct Expenses 1.1 15.3 3.5 49.7 54.3
COGS 446.1 295.4 360.9 1,335.0 821.1
Gross Profit 186.1 119.6 56% 137.6 549.5 343.6 60%
GP Margin % 29.4% 28.8% 27.6% 29.2% 29.5%
Employee Expenses 53.2 35.8 42.3 159.8 105.8
Other Expenses # 80.4 51.6 67.9 238.5 169.5
EBIDTA 52.5 32.2 63% 27.4 151.2 68.3 121%
EBIDTA Margin % 8.3% 7.8% 5.5% 8.0% 5.9%
Other Income 0.2 0.4 1.6 3.8 3.3
Depreciation & Amortisation 9.6 6.1 8.0 28.4 22.8
Finance Cost 3.9 2.2 5.5 13.6 7.5
Profit before Tax 39.2 24.3 61% 15.5 113.0 41.3 173%
PBT Margin % 6.2% 5.9% 3.1% 6.0% 3.5%
Tax 8.6 5.4 3.9 26.2 3.6
PAT 30.6 18.9 62% 11.6 86.8 37.8 130%
PAT Margin % 4.8% 4.6% 2.3% 4.6% 3.2%
9
# Other Expenses includes ₹ 2.14 cr on loss of sale of fixed assets 9
Q1 FY26 Profit & Loss - Standalone

Y-O-Y Y-O-Y
Particulars (₹ Cr) Q1 FY26 Q1 FY25 Q4 FY25 FY25 FY24
% Change % Change
Revenue from Operations 629.7 415.0 52% 498.5 1,884.5 1,164.7 62%
COGS 446.6 304.7 366.6 1,366.9 845.1
Gross Profit 183.1 110.3 66% 131.9 517.6 319.7 62%
GP Margin % 29.1% 26.6% 26.5% 27.5% 27.4%
Employee Expenses 49.0 29.7 38.5 138.1 92.6
Other Expenses 43.7 27.3 36.1 127.1 84.7
EBIDTA 90.5 53.4 69% 57.3 252.3 142.4 77%
EBIDTA Margin % 14.4% 12.9% 11.5% 13.4% 12.2%
Other Income 0.8 1.2 1.3 5.4 6.9
Depreciation & Amortisation 31.7 20.2 27.2 94.7 72.5
Finance Cost 22.4 13.2 20.9 66.2 46.1
Profit before Tax 37.1 21.2 75% 10.5 96.7 30.6 216%
PBT Margin % 5.9% 5.1% 2.1% 5.1% 2.6%
Tax 9.4 5.3 3.8 25.8 3.3
PAT 27.7 15.9 75% 6.7 70.9 27.3 160%
PAT Margin % 4.4% 3.8% 1.3% 3.8% 2.3%

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Q1 FY26 Profit & Loss – Standalone (Pre Ind As)
Y-O-Y Y-O-Y
Particulars (₹ Cr) Q1 FY26 Q1 FY25 Q4 FY25 FY25 FY24
% Change % Change
Revenue from Operations 629.7 415.0 52% 498.5 1,884.5 1,164.7 62%
COGS 446.6 304.7 366.6 1,366.9 845.1
Gross Profit 183.1 110.3 66% 131.9 517.6 319.7 62%
GP Margin % 29.1% 26.6% 26.5% 27.5% 27.4%
Employee Expenses 49.6 29.9 38.4 138.7 93.0
Other Expenses 77.7 49.5 66.4 231.0 160.8
EBIDTA 55.9 30.9 81% 27.0 147.9 65.9 124%
EBIDTA Margin % 8.9% 7.4% 5.4% 7.8% 5.7%
Other Income 0.0 0.2 1.0 2.7 2.8
Depreciation & Amortisation 9.2 5.5 7.4 26.2 21.2
Finance Cost 3.7 1.9 5.1 12.5 7.2
Profit before Tax 43.0 23.7 81% 15.6 111.9 40.4 177%
PBT Margin % 6.8% 5.7% 3.1% 5.9% 3.5%
Tax 9.4 5.3 3.8 25.8 3.3
PAT 33.6 18.4 83% 11.8 86.1 37.1 132%
PAT Margin % 5.3% 4.4% 2.4% 4.6% 3.2%
11
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Media & Promotion Campaigns

12
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Media & Promotion Campaigns

13
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Media & Promotion Campaigns

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Select New Stores Opening

15
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About V2 Retail
Overview Value & Variety

Established in 2001 under the visionary Our motto 'Value & Variety' comes to life
leadership of Mr. Ram Chandra Agarwal, through a wide-ranging product portfolio
V2 Retail Limited was founded with the that delivers exceptional quality and
mission to offer quality merchandise to the
masses at affordable prices affordability—across every store, for every
customer

Evolution Story Operational Excellence

The company became publicly listed in V2 Retail proudly serves India’s growing
2007. In 2011, the 'Vishal' brand was sold ‘neo middle class’ and ‘middle class’
due to operational losses, and the population delivering unbeatable value
company was subsequently renamed V2
Retail Limited with monthly sales of ₹ 960 per square feet
in Q1 FY26 & ₹ 1,017 in FY25

Area of Operation Stores Network

Primarily operates in Tier-II and Tier-III cities, With a strong nationwide footprint, V2
running a chain of 'V2 Retail' stores that Retail currently operates 216 stores across
offer apparel and general merchandise for 165 + cities in 21 states, covering an
the entire family. expansive retail space of approximately
23.49 lac Sq. Ft.

Our mission is to democratize fashion by offering high-quality, trendy apparel at affordable prices 17
to value conscious consumers across all tiers of cities 17
Key Operational Highlights FY25
Same Stores Sales Growth

Same stores sales growth (SSG)

stood at ~29% for FY25.
Sales Per Square Feet Volume Growth
Sales per square feet (PSF) per month Volume growth for FY25 stood at 43%
was ₹ 1,017 in FY25 as compared to (Y-o-Y).
₹ 854 in FY24.
1
Stores Count & Retail Area 2 9
Average Selling Price
189 Stores at the end of FY25
(Opened 74 & Closed 2) 3 8 ASP was ₹ 297 in FY25 as compared to
₹ 263 in FY24.
Total Retail Area ~20.27 lakh [Link].

4 7
Full Price Sales Contribution
Average Bill Value
5 6
MRP Sales at 89% in FY25 as compared
to 87% in FY24. ABV was ₹ 859 in FY25 as compared to
₹ 797 in FY24.

Net Working Capital (NWC) days

Revenue Mix
NWC days reduced to 37 days in FY25
Men’s Wear 40%, Ladies Wear 27% Kids from 71 days in FY24
Wear 25% & LifeStyle 8% 18
18
Revenue Mix & Growth Drivers
The key factors driving apparel business Revenue Mix (%)

Occasions Functional Needs

Occasions Drive Purchases Discount| Offers| Sale|

Festivals| Weddings| Replace Old Clothes |
Birthdays| Social Functions Fashion

Kids Boy, Girls, Infants, Winter Wear

Ethnic wear, Upper, Lower, Occasion Wear,

Ladies Winter Wear, Sportswear
Emotional Needs Brand Recall
Upper, Lower, Occasion Wear, Winter Wear,
Men’s
New Seasons| New Trends| Price| Quality of make| Sportswear, Formal, Casual
Fun times| Feels likes it Quality & Type of Fabrics|
Durability| Comfort| Fit Lifestyle products like Deodorants, wallets,
Lifestyle
sunglasses, ladies purse, etc. 19
19
Product Design to Customer Delight at Retail Stores
2 Job Work 4 Warehouse & Logistic 6 Customer Delight
• Dedicated Job workers for own • Centralised warehouse & distribution • Ensuring a seamless process that
designed products center at Gurgaon translates into superior products for
• Helps in maintaining quality & • Own fleet of vehicles refill the our customers
Inventory Management inventory at stores once a week • Happy & Satisfied Customers
6

5
1

2
4
3

1 Product Design 3 Supply Chain 5 Retail Presence

• In House Product development Team • Mix of own designed products as well
of 25 designers as procure high quality products at a • 216 Stores in more than 165 cities and
• Creating unique & trend setting value 21 states
designs • Helps in Quality Control & Inventory • Retail Area of ~ 23.49 lakh [Link].
Management
• Greater control over our product
portfolio 20
20
Retail Footprint – Reaching Customers
216 Stores at the end of Q1 FY26
(Opened 28 & Closed 1)

Retail Area ~23.49 lakh [Link].

State No. of Stores

Andhra Pradesh 1
Arunachal Pradesh 1
Assam 15
Bihar 39
Chattisgarh 2
Delhi & NCR 9
Goa 2
Himachal Pradesh 2
J&K 3
Jharkhand 17
Karnataka 14
Madhya Pradesh 18
Maharashtra 1
Meghalaya 1
Odisha 28
Punjab 3
Rajasthan 3
Tripura 1
Uttar Pradesh 38
Uttrakhand 7
West Bengal 11 21
Total 216 21
21
Stores Experience

22
22
Stores Experience

23
23
Stores Experience

24
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Board of Directors

Mr. Ram Chandra Agarwal, Ms. Uma Agarwal,

Mr. Akash Agarwal,
Chairman & Managing Director Whole Time Director
Whole Time Director
• Mr. Agarwal holds a bachelor’s degree in • Mrs. Agarwal holds a bachelor’s degree in
• Mr. Akash Agarwal holds an International
Commerce. Arts.
MBA from IE University Spain and a
• Has a vast experience of ~ 30 years of • Has a vast experience of ~ 15 years in the Bachelor’s degree in Business
entrepreneurial and business retail industry. Administration (BBA) from Lancaster
• He has been a member of the Board of Directors • Has been a member of the Board of Directors University (UK)
since inception. since inception. • He has more than 10 years of experience
• He provides strategic direction to the Company • She oversees the marketing strategies of the in the Retail Industry.
and is the driving force behind the establishment Company. • He looks after E-Commerce,
and growth of the Company. Procurement and Finance.
• He is the pioneer in value retailing and brought
this concept in India.
• He was conferred several awards at different
forums such as Ernst & Young Entrepreneur of the
year award in 2008 and 4Ps Power Brand Award
in 2007. 25
25
Independent Directors

Dr. Arun Kumar Roopanwal Mrs. Archana S Yadav Mr. Srinivas Anand Mannava
Independent Director Independent Director Independent Director

• He has over 35 Years of • A Chartered Accountant in • Post-Graduate Program in

extensive experience in practice with more than 14 years Business Management from IIM,
working with various retail of experience, having expertise in Kozhikode.
companies. GST, Income Tax, International Tax
& Corporate Audits. • He has financial expertise and
• He is having a vast experience extensive experience in Strategy
the field of Marketing, Product • She served as Financial Advisor to Planning, Improving Shareholders
Development, Business the autonomous body M/s Wealth, and Financial
Development, Strategic National Institute of Solar Energy, Journalism.
Planning and Administration. under Ministry of New &
Renewable Energy. She has also • He authored Investor Relations
worked with various MNC’s as book, published by ICFAI. Host IR
Management Consultant, Service Awards annually at BSE with
tax Consultant & Direct Tax advisor. Entities Like Bloomberg, BNY
Mellon, KPMG, IR Magazine.
• She was appointed as GST Faculty Launched certification in
by ICAI for GST knowledge sharing Investor Relations in Association
across India. with BSE Institute.

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Consolidated Profit & Loss

Particulars (₹ in Cr) FY2021 FY2022 FY2023 FY2024 FY2025

Revenue from Operations 538.6 629.2 838.9 1,164.7 1,884.5
Growth (%) -23.2% 16.8% 33.3% 38.8% 61.8%
Gross Profit 162.8 201.6 260.1 346.0 551.3
GP Margin (%) 30.2% 32.0% 31.0% 29.7% 29.3%
EBIDTA 48.5 64.7 84.0 147.8 257.8
EBIDTA Margin (%) 9.0% 10.3% 10.0% 12.7% 13.7%
Other Income 23.0 15.9 6.7 7.5 7.0
Depreciation 55.5 58.8 67.1 76.7 98.6
Finance Cost 31.3 36.6 40.6 47.2 67.9
PBT Before Exceptional Item (15.3) (14.9) (17.0) 31.4 98.2
PBT Margin (%) -2.7% -2.3% -2.0% 2.7% 5.2%
PAT (12.8) (11.7) (12.8) 27.8 72.0
PAT Margin (%) -2.3% -1.8% -1.5% 2.4% 3.8%
Total Comprehensive Income (12.9) (12.1) (13.0) 27.5 71.6

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 Consolidated Balance Sheet
Particulars (₹ in Cr) FY2025 FY2024 FY2023 Particulars (₹ in Cr) FY2025 FY2024 FY2023
ASSETS EQUITY AND LIABILITIES
Non-current assets Equity
Property, plant and equipment 210.1 116.1 98.6 Equity share capital 34.6 34.6 34.4
Capital Work in Progress 4.2 0.2 0.1 Other equity 311.7 240.1 212.5
Right to use Assets 652.4 361.5 305.8 Total - Equity 346.3 274.7 246.9
Other intangible assets 0.6 2.1 3.7
- - 0.3
Intangible assets under development LIABILITIES
Financial assets - Non-current liabilities
Loans 1.4 - - Financial liabilities
Other financial assets 15.4 10.9 8.3 Borrowings 18.9 16.4 7.2
Deferred tax assets (net) 30.7 28.5 32.0 Lease Liability 696.6 388.7 330.3
Non-Current tax assets (net) 0.2 0.9 0.6 Other financial liabilities - - -
Other non-current assets 27.1 20.5 18.0 Provisions 8.3 6.3 4.4
Total - Non-Current Assets 942.0 540.7 467.4 Total Non-Current Liabilities 723.8 411.4 341.9

Current assets Current liabilities

Inventories 558.2 418.9 278.9 Borrowings 96.7 74.5 46.5
Financial assets Lease Liability 37.8 45.9 39.8
Cash and cash equivalents 9.0 9.4 4.9 Trade payables 369.4 193.5 106.5
Bank balances other than cash &
0.4 0.4 0.2 Other financial liabilities 40.6 20.0 7.4
cash equivalents
Other financial assets 10.1 6.1 1.1 Provisions 3.9 3.1 2.4
Trade Receivables 0.1 0.1 0.1 Other current liabilities 9.9 4.0 1.9
Other current assets 108.5 51.6 40.7
Total - Current Assets 686.4 486.4 325.9 Total - Current liabilities 558.3 341.0 204.4

TOTAL - ASSETS 1,628.4 1,027.1 793.3 TOTAL - EQUITY AND LIABILITIES 1,628.4 1,027.1 793.3
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Standalone Profit & Loss

Particulars (₹ in Cr) FY2021 FY2022 FY2023 FY2024 FY2025

Revenue from Operations 538.6 629.2 838.9 1,164.7 1,884.5
Growth (%) -23.2% 16.8% 33.3% 38.8% 61.8%
Gross Profit 158.3 188.6 243.4 319.7 517.6
GP Margin (%) 29.4% 30.0% 29.0% 27.4% 27.5%
EBIDTA 48.8 60.7 78.8 142.4 252.3
EBIDTA Margin (%) 9.1% 9.7% 9.4% 12.2% 13.4%
Other Income 22.2 15.6 6.1 6.9 5.4
Depreciation 53.8 56.6 63.9 72.5 94.7
Finance Cost 30.2 36.1 39.9 46.1 66.2
PBT Before Exceptional Item -13.1 -16.4 -18.8 30.6 96.7
PBT Margin (%) -2.3% -2.5% -2.2% 2.6% 5.1%
PAT -11.0 -12.9 -14.5 27.3 70.9
PAT Margin (%) -2.0% -2.0% -1.7% 2.3% 3.8%
Total Comprehensive Income (11.0) (13.3) (14.6) 27.1 70.5

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 Standalone Balance Sheet
Particulars (₹ in Cr) FY2025 FY2024 FY2023 Particulars (₹ in Cr) FY2025 FY2024 FY2023
ASSETS EQUITY AND LIABILITIES
Non-current assets Equity
Property, plant and equipment 192.6 95.2 85.7 Equity share capital 34.6 34.6 34.4
Capital Work in Progress 4.2 0.2 0.1 Other equity 310.4 239.9 212.8
Right to use Assets 649.1 352.3 300.3 Total - Equity 345.0 274.5 247.2
Other intangible assets 0.3 1.5 3.1
Intangible assets under development - - 0.3 LIABILITIES
Financial assets Non-current liabilities
Investment in Subsidiary 15.0 15.0 15.0 Financial liabilities
Other financial assets 13.2 8.8 7.9 Borrowings 12.7 3.9 -
Deferred tax assets (net) 30.4 27.9 31.2 Lease Liability 693.1 381.0 326.3
Non-Current tax assets (net) - 0.6 0.5 Other financial liabilities - - -
Other non-current assets 26.7 20.3 17.7 Provisions 8.1 6.0 4.3
Total - Non-Current Assets 931.4 521.7 461.8 Total Non-Current Liabilities 713.9 390.8 330.6

Current assets Current liabilities

Inventories 526.2 360.0 246.5 Borrowings 95.6 73.5 46.5
Financial assets Lease Liability 37.7 43.8 37.7
Cash and cash equivalents 7.6 6.2 1.9 Trade payables 331.7 159.1 93.0
Bank balances other than cash &
0.4 0.4 0.2 Other financial liabilities 39.7 17.5 6.4
cash equivalents
Other financial assets 10.2 8.1 7.3 Provisions 3.9 3.0 2.3
Trade Receivables 0.0 0.1 0.1 Other current liabilities 9.6 3.7 1.4
Other current assets 101.4 69.6 47.5
Total - Current Assets 645.7 444.4 303.5 Total - Current liabilities 518.2 300.7 187.4

TOTAL - ASSETS 1,577.1 966.1 765.2 TOTAL - EQUITY AND LIABILITIES 1,577.1 966.1 765.2

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Cash Flow Statement

Standalone Consolidated
Particulars (₹ in Cr)
FY2025 FY2024 FY2025 FY2024

PBT 96.7 30.6 98.2 31.4

Adjustments 152.1 131.3 157.3 136.4
Operating profit before working capital changes 248.8 161.9 255.5 167.8
Changes in working capital (10.9) (76.4) (7.7) (73.6)

Cash generated from operations 237.8 85.4 247.8 94.2

Direct taxes paid (net of refund) (25.0) (0.1) (24.8) (0.7)

Net Cash from Operating Activities 212.9 85.3 223.0 93.4

Net Cash from Investing Activities (128.3) (28.7) (130.7) (39.3)

Net Cash from Financing Activities (83.3) (52.3) (92.7) (49.6)

Net Change in cash and cash equivalents 1.3 4.3 (0.4) 4.5
Opening Cash Balance 6.2 1.9 9.4 4.9

Closing Cash Balance 7.6 6.2 9.0 9.4

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Robust Standalone Financial Performance
Revenue (₹ Cr) EBIDTA (₹ Cr) & EBIDTA Margin

PBT (₹ Cr) PAT (₹ Cr)

33
33
Key Operating Matrix - Standalone
No. of Stores & Retail Space (lakh [Link].) Inventory Holding Days

Sales Per Sq. Ft. (₹ Per Month) Rent Per Sq. Ft. (₹ Per Month)

34
34
34
Operational Parameters (Consolidated)

Inventory (Days of Sales) Creditors (Days of Sales)

Net Working Capital (Days of Sales) Return on Equity (ROE)

23.2%

10.7%

-5.1%

FY25 FY24 FY 23 35
35
Disclaimer
This presentation and the accompanying slides (the “Presentation”), which have been prepared by V2 Retail Ltd. (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.

This presentation contains certain forward looking statements concerning the Company’s future business prospects and
business profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ
from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not
limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, competition (both domestic
and international), economic growth in India and abroad, ability to attract and retain highly skilled professionals, time and
cost over runs on contracts, our ability to manage our international operations, government policies and actions regulations,
interest and other fiscal costs generally prevailing in the economy. The Company does not undertake to make any
announcement in case any of these forward looking statements become materially incorrect in future or update any forward
looking statements made from time to time by or on behalf of the Company.

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