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3 Key Updates 3 Manufacturing 1. The Fund-Raising Committee of the holding Company, constituted by Board of Directors, at its meeting held on November 03, 2025 has approved the allotment of 18,74,414 Equity Shares of Rs. 10/- each to the eligible Qualified Institutional Buyers, at the issue price of ₹ 2,134 per Equity Share (including a premium of ₹ 2,124 per Equity Share), aggregating to ~₹ 400 crores. 2. The Company had performed physical verification of property, plant and equipment during the year ended 31 March 2023 in accordance with the phased program of conducting such verification over a period of 3 years, which was under reconciliation with the underlying fixed assets register. The Company has again carried out physical verification of property, plant and equipment during the current period and upon reconciliation with fixed assets register, the Company has written off property, plant and equipment of carrying value of ₹ 5.06 crores. Consequent to this, the audit qualification has been resolved. 3. During the period, the Holding Company recognised a provision of ₹6 crores towards impairment of its investment in a subsidiary, in accordance with Ind AS 36. 4. As on October 01, 2025, the Holding Company has reassessed its lease term estimates for store leases in accordance with Ind AS 116. This reassessment reflects the evolving nature of the Holding Company’s business and Stores portfolio, informed by historical trends and future strategic plans and accordingly based on business decision, lease terms have been re-estimated to better align with the period over which management reasonably expects to continue the stores under lease contracts. This reassessment led to changes in the measurement and recognition of Right-of- Use (ROU) assets (including associated security deposits) and corresponding lease liabilities, resulting in an exceptional gain of ₹ 27.69 crores, tax impact thereon ₹ 6.97 crores. The ROU Assets and Lease Liabilities were reduced by ₹ 483.94 crores and ₹ 499.21 crores respectively as on October 1, 2025. 5. The Company has assessed the impact of the New Labour Code on the basis of the information available, consistent with the guidance issued by the Institute of Chartered Accountants of India, is not material and has been recongnised in the financial results of the Company for the quarter and nine months ended December 31, 2025. Once Central/ State Rules are notified by the Government on all aspects of the Codes, the Company will evaluate impact, if any, on the measurement of employee benefits and would provide appropriate accounting treatment.
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4 ₹ 685.7 Cr 30.2% ₹ 301.3 Cr 32.4% ₹ 346.4 Cr 15.3% ₹ 173.7 Cr 18.7% ₹ 144.0 Cr 6.3% ₹ 102.1 Cr 10.9% Q3 & 9M FY26 Performance Highlights (Consolidated) 4 ₹ 2,270 Cr ₹ 929.2 Cr Revenue +57% +66% +59% +73% +56% +119% +99% Manufacturing +64% Gross Profit EBITDA PAT Q3FY26 9MFY26 Leading the way in Affordable, High Quality Fashion
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5 Key Operational Highlights Q3 FY26 Average Selling Price ASP was ₹ 363 in Q3FY26 as compared to ₹ 343 in Q3FY25. Same Stores Sales Growth SSG stood at ~2% & Normalised SSG was 12.8% for Q3FY26 and Cumulative SSG for Q2 & Q3FY26 stood at 10.4% Volume Growth Volume growth for Q3FY26 stood at 48% (Y-o-Y). Sales Per Square Feet Sales per square feet (PSF) per month was ₹ 1,032 in Q3FY26 as compared to ₹ 1,219 in Q3FY25. Full Price Sales Contribution MRP Sales at 92% in Q3FY26 as compared to 91% in Q3FY25. Average Bill Value ABV was ₹ 964 in Q3FY26 as compared to ₹ 924 in Q3FY25. Revenue Mix Men’s Wear 41%, Ladies Wear 27% Kids Wear 24% & LifeStyle 8% 1 2 3 4 5 9 8 7 6 Stores Count & Retail Area 294 Stores at the end of Q3FY26 (Opened 35) Total Retail Area ~31.93 lakh sq.ft. 5 Net Working Capital days NWC days stood at 69 days compared to 37 days in FY25, primarily due to strengthening of creditor payment cycles, consistent with the Company’s focus on being a preferred vendor.
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6 Key Operational Highlights 9M FY26 Average Selling Price ASP was ₹ 329 in 9MFY26 as compared to ₹ 293 in 9MFY25. Same Stores Sales Growth Same stores sales growth (SSG) stood at ~8.6% for 9MFY26. Volume Growth Volume growth for 9MFY26 stood at 45% (Y-o-Y). Sales Per Square Feet Sales per square feet (PSF) per month was ₹ 981 in 9MFY26 as compared to ₹ 1,069 in 9MFY25. Full Price Sales Contribution MRP Sales at 92% in 9MFY26 as compared to 91% in 9MFY25. Average Bill Value ABV was ₹ 925 in 9MFY26 as compared to ₹ 853 in 9MFY25. Net Working Capital days NWC days stood at 69 days compared to 37 days in FY25, primarily due to strengthening of creditor payment cycles, consistent with the Company’s focus on being a preferred vendor. Revenue Mix Men’s Wear 41%, Ladies Wear 28% Kids Wear 23% & LifeStyle 8% 1 2 3 4 5 9 8 7 6 Stores Count & Retail Area 294 Stores at the end of 9MFY26 (Opened 106 & Closed 1) Total Retail Area ~31.93 lakh sq.ft. 6
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7 Retail Footprint – Reaching Customers 7 Stores Network as on December 31, 2025 #294 Stores, #Across 225 Cities, #Presence in 25 states (Opened 106 & Closed 1 Stores) Retail Area ~31.93 lakh sq.ft. 7
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8 Revenue (₹ Cr) EBIDTA (₹ Cr) PAT (₹ Cr) Gross Profit (₹ Cr) Q3 & 9M FY26 Financial Highlights (Consolidated) 8 174 111 346 200 Q3 FY26 Q3 FY25 9M FY26 9M FY25 12.9% 17.4%18.9% 18.7% 15.3% 14,4% 56% 73% 301 190 686 414 Q3 FY26 Q3 FY25 9M FY26 9M FY25 59% 66% 33% 32,4% 32.1% 30.2% 29.8% 929 591 2,270 1,386 Q3 FY26 Q3 FY25 9M FY26 9M FY25 57% 64%
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9 Creditors (Days of Sales) Net Working Capital (Days of Sales) Q3 & 9M FY26 Operational Parameters (Consolidated) 9 Inventory (Days of Sales) Return on Equity (ROE) Company raised ~₹ 400 crores by way of QIP in Q3 FY26, which has impacted the ROE
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10 Sales Per Square Feet (PSF) per Month (₹) Average Bill Value (ABV) (₹) Average Selling Price (ASP) (₹) Q3 & 9M FY26 Operational Parameters 10 Same Stores Sales Growth (SSG)
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11 Q3 & 9M FY26 Profit & Loss - Consolidated 11 Particulars (₹ Cr) Q3 FY26 Q3 FY25 Y-O-Y % Change Q2 FY26 9M FY26 9M FY25 Y-O-Y % Change FY25 Revenue from Operations 929.2 590.9 57% 708.6 2,270.0 1,386.0 64% 1,884.5 Cost of Material Consumed 627.4 388.5 508.9 1,581.3 927.8 1,285.3 Direct Expenses 0.4 13.0 1.6 3.0 44.6 48.0 COGS 627.8 401.4 510.5 1,584.3 972.4 1,333.2 Gross Profit 301.3 189.5 59% 198.2 685.7 413.6 66% 551.3 GP Margin % 32.4% 32.1% 28.0% 30.2% 29.8% 29.3% Employee Expenses 60.9 42.3 57.5 171.1 116.9 159.2 Other Expenses 66.7 35.8 55.2 168.3 96.7 134.2 EBIDTA 173.7 111.5 56% 85.4 346.4 200.0 73% 257.8 EBIDTA Margin % 18.7% 18.9% 12.1% 15.3% 14.4% 13.7% Other Income 4.3 1.2 1.1 6.3 5.1 7.0 Depreciation & Amortisation 45.7 26.3 37.6 115.4 70.7 98.6 Finance Cost 22.0 17.8 28.0 72.7 46.5 67.9 Profit before Tax & Exceptional Items 110.3 68.5 61% 20.9 164.5 87.9 87% 98.2 Exceptional Gain /(loss) 27.7 27.7 Profit before Tax 138.0 68.5 101% 20.9 192.2 87.9 119% 98.2 PBT Margin % 14.8% 11.6% 3.0% 8.4% 6.3% 5.2% Tax 35.9 17.3 3.7 48.3 22.3 26.2 PAT 102.1 51.2 99% 17.2 144.0 65.6 119% 72.0 PAT Margin % 10.9% 8.6% 2.4% 6.3% 4.7% 3.8%
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12 Q3 & 9MFY26 Profit & Loss – Consol. (Pre Ind As) 12 Particulars (₹ Cr) Q3 FY26 Q3 FY25 Y-O-Y % Change Q2 FY26 9M FY26 9M FY25 Y-O-Y % Change FY25 Revenue from Operations 929.2 590.9 57% 708.6 2,270.0 1,386.0 64% 1,884.5 Cost of Material Consumed 627.4 388.5 508.9 1,581.3 927.8 1,285.3 Direct Expenses 0.4 13.4 1.6 3.1 46.3 49.7 COGS 627.8 401.9 510.5 1,584.4 974.1 1,335.0 Gross Profit 301.3 189.1 59% 198.2 685.6 411.9 66% 549.5 GP Margin % 32.4% 32.0% 28.0% 30.2% 29.7% 29.2% Employee Expenses 59.8 42.3 58.6 171.6 117.5 159.8 Other Expenses 115.7 63.1 95.1 291.2 170.6 238.5 EBIDTA 125.9 83.7 50% 44.4 222.8 123.8 80% 151.2 EBIDTA Margin % 13.5% 14.2% 6.3% 9.8% 8.9% 8.0% Other Income 3.2 0.3 0.2 3.6 2.2 3.8 Depreciation & Amortisation 7.8 7.7 10.7 28.0 20.3 28.4 Finance Cost 5.2 3.4 4.9 14.0 8.1 13.6 Profit before Tax 116.1 73.0 59% 29.0 184.3 97.5 89% 113.0 PBT Margin % 12.5% 12.3% 4.1% 8.1% 7.0% 6.0% Tax 34.3 17.3 3.7 46.7 22.3 26.2 PAT 81.8 55.6 47% 25.3 137.6 75.2 83% 86.8 PAT Margin % 8.8% 9.4% 3.6% 6.1% 5.4% 4.6%
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13 Q3 & 9M FY26 Profit & Loss - Standalone 13 Particulars (₹ Cr) Q3 FY26 Q3 FY25 Y-O-Y % Change Q2 FY26 9M FY26 9M FY25 Y-O-Y % Change FY25 Revenue from Operations 927.3 590.9 57% 704.9 2,261.9 1,386.0 63% 1,884.5 COGS 623.4 409.0 507.6 1,577.5 1,000.3 1,366.9 Gross Profit 303.9 182.0 67% 197.3 684.4 385.7 77% 517.6 GP Margin % 32.8% 30.8% 28.0% 30.3% 27.8% 27.5% Employee Expenses 60.9 37.1 57.2 167.1 99.7 138.1 Other Expenses 66.1 34.0 54.3 164.1 91.0 127.1 EBIDTA 176.9 110.9 60% 85.8 353.2 195.0 81% 252.3 EBIDTA Margin % 19.1% 18.8% 12.2% 15.6% 14.1% 13.4% Other Income 4.0 0.4 0.5 5.2 4.1 5.4 Depreciation & Amortisation 45.5 25.6 37.3 114.4 67.6 94.7 Finance Cost 21.9 17.5 27.9 72.2 45.3 66.2 Profit before Tax & Exceptional Items 113.5 68.2 66% 21.1 171.8 86.2 99% 96.7 Exceptional Gain /(loss) 21.7 21.7 Profit before Tax 135.2 68.2 21.1 193.5 86.2 96.7 PBT Margin % 12.2% 11.5% 3.0% 7.6% 6.2% 5.1% Tax 35.9 17.3 3.0 48.3 22.0 25.8 PAT 99.3 50.9 95% 18.1 145.1 64.2 126% 70.9 PAT Margin % 10.7% 8.6% 2.6% 6.4% 4.6% 3.8%
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14 Q3 & 9M FY26 Profit & Loss – Standalone (Pre Ind As) 14 Particulars (₹ Cr) Q3 FY26 Q3 FY25 Y-O-Y % Change Q2 FY26 9M FY26 9M FY25 Y-O-Y % Change FY25 Revenue from Operations 927.3 590.9 57% 704.9 2,261.9 1,386.0 63% 1,884.5 COGS 623.4 409.0 507.6 1,577.5 1,000.3 1,366.9 Gross Profit 303.9 182.0 67% 197.3 684.4 385.7 77% 517.6 GP Margin % 32.8% 30.8% 28.0% 30.3% 27.8% 27.5% Employee Expenses 59.8 37.1 58.3 167.7 100.3 138.7 Other Expenses 115.1 61.3 94.2 286.9 164.6 231.0 EBIDTA 129.1 83.6 54% 44.8 229.7 120.9 90% 147.9 EBIDTA Margin % 13.9% 14.1% 6.4% 10.2% 8.7% 7.8% Other Income 2.9 0.1 0.0 2.9 1.7 2.7 Depreciation & Amortisation 7.5 7.3 10.4 27.1 18.9 26.2 Finance Cost 5.2 3.2 4.8 13.6 7.4 12.5 Profit before Tax 119.3 73.1 63% 29.6 191.9 96.3 99% 111.9 PBT Margin % 12.8% 12.4% 4.2% 8.5% 6.9% 5.9% Tax 34.1 17.3 3.0 46.6 22.0 25.8 PAT 85.2 55.8 53% 26.6 145.4 74.3 96% 86.1 PAT Margin % 9.2% 9.4% 3.8% 6.4% 5.4% 4.6%
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15 Media & Promotion Campaigns 15
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16 Media & Promotion Campaigns 16
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17 Select New Stores Opening 17
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18 Select New Stores Opening 18
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20 About V2 Retail 20 Our mission is to democratize fashion by offering high-quality, trendy apparel at affordable prices to value conscious consumers across all tiers of cities Established in 2001 under the visionary leadership of Mr. Ram Chandra Agarwal, V2 Retail Limited was founded with the mission to offer quality merchandise to the masses at affordable prices Overview The company became publicly listed in 2007. In 2011, the 'Vishal' brand was sold due to operational losses, and the company was subsequently renamed V2 Retail Limited Evolution Story Primarily operates in Tier-II and Tier-III cities, running a chain of 'V2 Retail' stores that offer apparel and general merchandise for the entire family. Area of Operation Our motto 'Value & Variety' comes to life through a wide-ranging product portfolio that delivers exceptional quality and affordability—across every store, for every customer Value & Variety V2 Retail proudly serves India’s growing ‘neo middle class’ and ‘middle class’ population delivering unbeatable value with monthly sales of ₹ 981 per square feet in 9M FY26 & ₹ 1,017 in FY25 Operational Excellence With a strong nationwide footprint, V2 Retail currently operates 294 stores across 225 + cities in 25 states, covering an expansive retail space of approximately 31.93 lac Sq. Ft. Stores Network
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21 Key Operational Highlights FY25 Average Selling Price ASP was ₹ 297 in FY25 as compared to ₹ 263 in FY24. Same Stores Sales Growth Same stores sales growth (SSG) stood at ~29% for FY25. Volume Growth Volume growth for FY25 stood at 43% (Y-o-Y). Sales Per Square Feet Sales per square feet (PSF) per month was ₹ 1,017 in FY25 as compared to ₹ 854 in FY24. Full Price Sales Contribution MRP Sales at 89% in FY25 as compared to 87% in FY24. Average Bill Value ABV was ₹ 859 in FY25 as compared to ₹ 797 in FY24. Net Working Capital (NWC) days NWC days reduced to 37 days in FY25 from 71 days in FY24 Revenue Mix Men’s Wear 40%, Ladies Wear 27% Kids Wear 25% & LifeStyle 8% 1 2 3 4 5 9 8 7 6 Stores Count & Retail Area 189 Stores at the end of FY25 (Opened 74 & Closed 2) Total Retail Area ~20.27 lakh sq.ft. 21
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22 Revenue Mix & Growth Drivers 22 The key factors driving apparel business Revenue Mix (%) Kids Boy, Girls, Infants, Winter Wear Ethnic wear, Upper, Lower, Occasion Wear, Winter Wear, Sportswear Upper, Lower, Occasion Wear, Winter Wear, Sportswear, Formal, Casual Lifestyle products like Deodorants, wallets, sunglasses, ladies purse, etc. Ladies Men’s Lifestyle Functional Needs Discount| Offers| Sale| Replace Old Clothes | Fashion Occasions Occasions Drive Purchases Festivals| Weddings| Birthdays| Social Functions Emotional Needs New Seasons| New Trends| Fun times| Feels likes it Brand Recall Price| Quality of make| Quality & Type of Fabrics| Durability| Comfort| Fit
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23 Product Design to Customer Delight at Retail Stores 23 Product Development • In House Product development Team of 25 designers • Creating unique & trend setting designs • Greater control over our product portfolio 6 5 4 2 3 1 • In House Product development Team of 60 including designers • Creating unique & trend setting designs • Greater control over our product portfolio Product Design1 • Dedicated Job workers for own designed products • Helps in maintaining quality & Inventory Management Job Work2 • Mix of own designed products as well as procure high quality products at a value • Helps in Quality Control & Inventory Management Supply Chain3 • 294 Stores in more than 225 cities and 25 states • Retail Area of ~ 31.93 lakh Sq.Ft. Retail Presence5 • Centralised warehouse & distribution center at Gurgaon • Own fleet of vehicles refill the inventory at stores once a week Warehouse & Logistic4 • Ensuring a seamless process that translates into superior products for our customers • Happy & Satisfied Customers Customer Delight6 23
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24 Stores Experience 24
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25 Stores Experience 25 25
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26 Stores Experience 26 26
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27 Board of Directors • Mr. Agarwal holds a bachelor’s degree in Commerce. • Has a vast experience of ~ 30 years of entrepreneurial and business • He has been a member of the Board of Directors since inception. • He provides strategic direction to the Company and is the driving force behind the establishment and growth of the Company. • 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. Ms. Uma Agarwal, Whole Time Director • Mrs. Agarwal holds a bachelor’s degree in Arts. • Has a vast experience of ~ 15 years in the retail industry. • Has been a member of the Board of Directors since inception. • She oversees the marketing strategies of the Company. Mr. Akash Agarwal, Whole Time Director • Mr. Akash Agarwal holds an International MBA from IE University Spain and a Bachelor’s degree in Business Administration (BBA) from Lancaster University (UK) • He has more than 10 years of experience in the Retail Industry. • He looks after E-Commerce, Procurement and Finance. Mr. Ram Chandra Agarwal, Chairman & Managing Director 27
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28 Independent Directors • He has over 35 Years of extensive experience in working with various retail companies. • He is having a vast experience the field of Marketing, Product Development, Business Development, Strategic Planning and Administration. • A Chartered Accountant in practice with more than 14 years of experience, having expertise in GST, Income Tax, International Tax & Corporate Audits. • She served as Financial Advisor to the autonomous body M/s National Institute of Solar Energy, under Ministry of New & Renewable Energy. She has also worked with various MNC’s as Management Consultant, Service tax Consultant & Direct Tax advisor. • She was appointed as GST Faculty by ICAI for GST knowledge sharing across India. Dr. Arun Kumar Roopanwal Independent Director Mrs. Archana S Yadav Independent Director • Post-Graduate Program in Business Management from IIM, Kozhikode. • He has financial expertise and extensive experience in Strategy Planning, Improving Shareholders Wealth, and Financial Journalism. • He authored Investor Relations book, published by ICFAI. Host IR Awards annually at BSE with Entities Like Bloomberg, BNY Mellon, KPMG, IR Magazine. Launched certification in Investor Relations in Association with BSE Institute. Mr. Srinivas Anand Mannava Independent Director 28
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30 Consolidated Profit & Loss 30 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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31 Consolidated Balance Sheet 31 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 Intangible assets under development - - 0.3 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 674.2 388.7 330.3 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 701.4 411.4 341.9 Current assets Current liabilities Inventories 558.2 418.9 278.9 Borrowings 96.7 74.5 46.5 Financial assets Lease Liability 60.1 45.9 39.8 Cash and cash equivalents 9.0 9.4 4.9 Trade payables 325.4 193.5 106.5 Bank balances other than cash & cash equivalents 0.4 0.4 0.2 Other financial liabilities 55.3 20.0 7.4 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 79.2 51.6 40.7 Total - Current Assets 657.1 486.4 325.9 Total - Current liabilities 551.3 341.0 204.4 TOTAL - ASSETS 1,599.1 1,027.1 793.3 TOTAL - EQUITY AND LIABILITIES 1,599.1 1,027.1 793.3
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32 Standalone Profit & Loss 32 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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33 Standalone Balance Sheet 33 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 670.8 381.0 326.3 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 691.6 390.8 330.6 Current assets Current liabilities Inventories 526.2 360.0 246.5 Borrowings 95.6 73.5 46.5 Financial assets Lease Liability 60.0 43.8 37.7 Cash and cash equivalents 7.6 6.2 1.9 Trade payables 317.2 159.1 93.0 Bank balances other than cash & cash equivalents 0.4 0.4 0.2 Other financial liabilities 54.2 17.5 6.4 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 540.5 300.7 187.4 TOTAL - ASSETS 1,577.1 966.1 765.2 TOTAL - EQUITY AND LIABILITIES 1,577.1 966.1 765.2
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34 Cash Flow Statement 34 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 Particulars (₹ in Cr) Standalone Consolidated
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35 Robust Standalone Financial Performance Revenue (₹ Cr) PBT (₹ Cr) PAT (₹ Cr) EBIDTA (₹ Cr) & EBIDTA Margin 35
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36 Key Operating Matrix - Standalone 36 No. of Stores & Retail Space (lakh sq.ft.) Sales Per Sq. Ft. (₹ Per Month) Rent Per Sq. Ft. (₹ Per Month) Inventory Holding Days 36
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37 23.2% 10.7% -5.1% FY25 FY24 FY 23 Creditors (Days of Sales) Net Working Capital (Days of Sales) Operational Parameters (Consolidated) 37 Inventory (Days of Sales) Return on Equity (ROE)
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38 Disclaimer 38 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.