Академический Документы
Профессиональный Документы
Культура Документы
Safe Harbor
Certain statements in this document may be forward-looking statements. Such
forward-looking statements are subject to certain risks and uncertainties like
regulatory changes, local political or economic developments, and many other
factors that could cause our actual results to differ materially from those
contemplated by the relevant forward-looking statements. Vaibhav Global
Limited will not be in any way responsible for any action taken based on such
statements and undertakes no obligation to publicly update these forwardlooking statements to reflect subsequent events or circumstances.
VGL Overview
Vertically-integrated electronic retailer
Positive customer engagement metrics customer base, retention rate, repeat purchases
Outsourcing from China, Thailand, Indonesia and India, manufacturing operations in Jaipur, India
Investments in customer interface, production, warehousing facilities, supply chain and CRM
Professional, experienced management team having in-depth knowledge and industry experience
Talent pool across marketing, merchandising, operations, technical and strategy functions
3
Table of Contents
12
20
Financial Performance
Operating Highlights
Chairmans Message
Commenting on Q1 FY16 performance, Mr. Sunil Agrawal, Chairman and Managing Director, Vaibhav Global said:
Continuing to strengthen our customer experience, we have recently rolled
out our new, advanced mobile website on SAP/HYBRIS platform which can
be accessed from any mobile device. The diversification into home and
other lifestyle products has drawn a positive response from customers. We
believe these substantial initiatives undertaken by the company, and several
others in the pipeline, would allow us to regain volume momentum and
deepen the engagement with our base of 1.7 million TV and web
customers.
As you may know, we are now a zero-debt, cash surplus company.
Subsequently, we have a wider scope to consolidate our market position
and plan investments for future growth. Our strong balance sheet has also
allowed an upgrade to the credit rating of short term bank facilities from
CARE A3+ to CARE A2, indicating strong degree of safety regarding timely
payment of financial obligations. CARE has withdrawn long-term rating as
long term debts have been repaid.
Most of the noteworthy operational and financial transformations have now
been successfully concluded. We are confident that these initiatives will
start delivering positive results and help us regain stronger traction in H2
FY16, setting the stage for the next level of growth in our business. Overall,
we remain focused on our long term objective of emerging as a formidable
global retailer of high repute.
6
Q1 FY15
276
Q1 FY16
TV Sales
209
207
59
Q1 FY15
B2B Sales
Web Sales
Q1 FY16
Q1 FY15
54
Q1 FY16
34
Q1 FY15
15
Q1 FY16
1,499
22
1,422
Q1 FY15
Q1 FY16
Q1 FY15
Q1 FY16
Web Sales
Sales Volumes ('000s)
729
Q1 FY15
14
632
Q1 FY16
Q1 FY15
Q1 FY16
Gross Profit
200.00
Gross margin
67%
70%
65%
62%
60%
55%
150.00
50%
45%
40%
187
100.00
185
35%
30%
Q1 FY15
Q1 FY16
Note: Direct costs for calculation of gross profit includes material cost, job work charges
and manufacturing cost
Rs. crore
EBITDA
EBITDA margin
20%
40
16%
30
12%
20
8%
8.7%
5.5%
10
26
15
Q1FY15
Q1FY16
4%
0%
Note:
EBIDTA excludes exchange gain/loss;
EBIDTA margin including exchange gain/loss stood at 6% in Q1FY16 v/s 10% in Q1 FY15
Rs. crore
PAT
PAT margin
60.00
9.0%
7.2%
40.00
6.0%
2.6%
20.00
22
Q1 FY15
Q1 FY16
3.0%
0.0%
60%
50%
40%
30%
20%
10%
27%
37%
0%
ROE
ROCE
10
Table of Contents
12
20
11
1,298
893
647
276
FY12
FY13
FY14
FY15
Q1
FY16
TV Sales
911
B2B Sales
958
687
483
225
207
FY12
FY13
FY14
FY15
Q1
FY16
73
256
162
91
117
161
89
54
FY12
FY13
FY14
FY15
Q1
FY16
15
FY12
FY13
FY14
FY15
Q1
FY16
12
6,829
41
5,239
30
23
3,268
24
22
1,499
Q1
FY16
TV
ASP
reduced
discontinuation of high
products
owing
to
price point
Web Sales
Sales Volumes ('000s)
2,955
14
14
Q1
FY16
12
13
1,700
762
357
632
13
Gross Profit
Rs. crore
Gross margin
67%
900
800
66%
700
64%
600
500
60%
400
61%
62%
61%
59%
56%
100
384
533
789
838
185
FY12
FY13
FY14
FY15
Q1 FY16
EBITDA
Rs. crore
180
14%
12%
11%
9%
120
54%
EBITDA margin
12%
13%
140
10%
8%
100
6%
80
40
58%
200
60
60%
300
160
68%
6%
4%
86
2%
20
0
FY12
81
157
144
15
FY13
FY14
FY15
Q1 FY16
Note:
EBIDTA excludes exchange gain/loss;
0%
14
PAT
Rs. crore
PAT margin
180
14%
160
12%
12%
12%
140
10%
120
8%
8%
100
8%
80
6%
60
4%
3%
40
2%
20
79
78
153
103
FY12
FY13
FY14
FY15
Q1 FY16
0%
EPS
48
32
25
24
2
FY12
FY13
FY14
FY15
Q1 FY16
15
Shareholders Equity
Rs. crore
328
265
Fixed Assets
Rs. crore
333
203
233
116
159
58
FY12
FY13
FY14
FY15
Q1 FY16
* During FY13, Shareholders Equity was adjusted lower by Rs. 163.7 crore due
to goodwill written off (Rs. 151.1 crore), provision for CDR recompense interest
(Rs. 11.2 crore) and write off on liquidation of subsidiary (Rs. 1.5 crore)
Rs. crore
146
Net Debt
FY12
FY13
66
FY14
77
FY15
During FY13 fixed assets were adjusted lower by Rs. 151.1 cr due to
goodwill written off
Includes 11 crore for New channel in UK and around 25 crores for HYBRIS
which were lying in work in progress.
Rs. crore
115
231
216
52
219
211
208
-20
FY12
FY13
Q1 FY16
FY14
FY15
-6
Q1 FY16
FY12
FY13
FY14
FY15
Q1 FY16
Net current Assets are impacted due to capital advances against new
channel in UK and SAP based software got capitalized in current quarter.
16
Rs. crore
169
Rs. crore
152
129
106
52
66
26
34
10
FY12
FY13
FY14
FY15
FY12
FY13
FY14
FY15
Q1 -7
FY16
Q1 FY16
17
ROE
68%
ROCE
60%
65%
44%
36%
FY12
37%
34%
31%
FY13
FY14
FY15
27%
23%
Q1 FY16
FY12
FY13
FY14
FY15
Q1 FY16
18
Table of Contents
12
20
19
Market Opportunity
US market size (US$ Bn)
Fashion
Accessories
17
Fashion
Accessories
6
Fine and
Fashion
Jewelry 67
Fine and
Fashion
Jewelry
8
20
Product Profile
FASHION JEWELLERY
Bracelets
Bangles
Earrings
Studded jewelry, etc.
FASHION ACCESSORIES
Watches
Handbags
Scarves, etc.
LIFESTYLE PRODUCTS
Home Dcor
Bed linens
Pillow Covers
Towels, etc.
21
Channel #399
& 1399
Channel #159
Channel #75 &
226
https://www.liquidationchannel.com
*
*
* Different channel # across various locations
22
Channel #49
Channel #650&
#652
Channel #815
Channel #757
www.thejewellerychannel.tv
23
E-Commerce
Retail formats:
Catalog
Rising Auctions
Technology enhancements:
Samsung TV
24
Sourcing Markets
Manufacturing facility in Jaipur, India
Production Capacity (3 units)
Additional Capacity
Over 2,200 people in India across corporate, manufacturing, design, sales & marketing, customer service, logistics etc
China
Thailand
Guangzhou, Haifeng,
Hauadu Shenzhen,
Dongguan, Zhuji,
Wenzhou, Wuzhou, Yiwu,
Hunan
Indonesia
Bali, Yogyakarta,
Sumatra, Madura
Surabaya
India
Noida, Jaipur,
Nagaland, Kashmir,
25
Consumption Markets
Access to over 100 million (FTE) households on TV homeshopping in the US, UK and Canada
Liquidation Channel
UK
USA
Sourcing Methodology
Assessing
value
perception
design /
fashion trend /
price in target
markets
Competitive
Pricing
Mapping latest
fashions
Rapid
turnaround
Vendor
evaluation
process
Sourcing from
appropriate
micro-markets
in China/Asia
Focus on best
price to
customer
Low
investment
Scale
flexibility
Access to
latest
manufacturing
technologies
Sourcing
price to
deliver
excellent
value
Core
competency
of vendor
Delivery/
quality/
timeliness
Size of
product line/
capacity
Proprietary
design/
development
capability
Multi-vendor
quotes to
gauge bottom
price
discovery
27
Management Team
Sunil Agrawal
Chairman and Managing Director
Established Vaibhav in 1980 as a first generation
entrepreneur and has led the companys transition
into a leading brand for fashion jewelry and lifestyle
accessories
Travels extensively across the world, overseeing
operations, sourcing raw material globally and
representing the company at major trade shows and
jewelry fairs in the US, Europe and Asia
Jeff Allar
Charlie Curnow
28
Management Team
Gerald Tempton
Colin Wagstaffe
Praveen Tiwari
Pushpendra Singh
29
Contact Information
For more information on Vaibhav Global Limited, please contact:
Anshuman Khandelwal
Vaibhav Global Ltd.
Tel: +91-141-2770648
Email:Anshuman.Khandelwal@vaib
havglobal.com
Dhruv Samel
Vaibhav Global Limited
Tel: + 91-141-2770648
Email: dhruv.samel@vglgroup.com
30
Thank
You
31