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INVESTOR PRESENTATION · Q2 FY’27 V-Mart Retail Limited www.vmart.co.in | www.limeroad.com
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22 Disclaimer This presentation by V-Mart Retail Limited (“V-Mart”) does not constitute a prospectus, placement memorandum, or an offer to acquire any securities. It should not be deemed an offer in any form. No representation or warranty, express or implied, is made regarding the fairness, accuracy, completeness, or correctness of the information or opinions herein. The information is current only as of its date. Certain statements may be “forward-looking,” involving risks, uncertainties, and other factors that could cause actual results to differ materially. These risks include those related to V-Mart’s fashion, FMCG, and online marketplace businesses. Data and opinions are based on assumptions and subject to risks, which may cause actual results to differ materially. Figures are rounded and may not depict exact numbers. The Company and its affiliates are not obligated to update any forward-looking statements. They are not liable for any loss arising from the use of this presentation. Do not place undue reliance on forward-looking statements, which reflect the current view of the Company’s management. We use various financial and operational indicators to measure performance. These indicators have limitations and should not be considered in isolation from our historical financial performance. Past performance is not necessarily indicative of future results. V-Mart may alter the content of this presentation without obligation to notify any person. This presentation cannot be copied or disseminated. This summary does not contain all information needed to evaluate any potential transaction. Recipients should conduct their own analysis, consulting legal, business, tax, and financial advisers. The information has not been independently verified or reviewed by any statutory or regulatory authority in India. No representation or warranty is made regarding the fairness, accuracy, completeness, or correctness of the information and opinions herein. This document does not constitute legal, business, tax, or financial advice. No person is authorized to provide information or make representations not contained in this presentation. If such information or representations are given, they should not be relied upon as authorized by V-Mart.
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33 Q2 FY’27 Key Performance Highlights Financial Parameters Operational Parameters V-MART RETAIL LIMITED 3
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44 Key Highlights: Q2 FY’27 vs Q2 FY’26 Strong performance across financial and operational parameters, driven by healthy customer traction and improving business momentum. Q2 FY’27 613 Stores Net Store Addition: 22 ▲ 15% YoY ₹9,530 Mn Revenue ▲ 18% YoY ₹861 Mn EBITDA : 9.0% of Revenue ▲ 20% YoY SSSG: 3% *Festive Adjusted SSSG :11% V-Mart: 10% | Unlimited: 12% Increasing Customer Traffic Footfall Growth: 36% | Memo Growth: 15% Total Sales Growth: 18% V-Mart: 17% | Unlimited: 25% Same Store Sales Growth: 3% V-Mart: 2% | Unlimited: 11% LimeRoad Marketplace Performance NMV grew by 55% YoY & Loss % to NMV reduced to 8% from 18% YoY *Festive dates shifted from Q2 to Q3 due to a 19-day shift in the festive calendar, with Navratri commencing on 11 October 2026 in current year vs 22 September 2025 last year. V-MART RETAIL LIMITED Store Network: 613 Total Stores V-Mart 509 | Unlimited 104 | Opened 23 | Closed 1 Crossed the 600-store milestone during the quarter.
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55 Revenue from Operations (₹ Millions) Revenue Mix (%) EBITDA (₹ Millions, % to Revenue) PAT (₹ Millions, % to Revenue) * LimeRoad Commission Income is ₹ 143 Mn (Q2 FY’26 ₹ 85 Mn); NMV: Net Merchandise Value 8,069 6,624 1,380 192 9,530 7,750 1,721 298 Total V-Mart Unlimited LimeRoad NMV* Q2 FY'26 Q2 FY'27 18%▲ 17%▲ 25%▲ 55%▲ 77% 11% 12% 77% 10% 13% Apparel Non-Apparel FMCG Q2 FY'26 Q2 FY'27 715 605 144 -34 861 685 199 -23 Total V-Mart Unlimited LimeRoad Q2 FY'26 Q2 FY'2720%▲ 13%▲ 38% ▲ 32%▲8.9% 9.0% 9.1% 8.8% 10.5% 11.6% -17.9% -89 -163 Q2 FY'26 Q2 FY'27 Q2 FY'26 Q2 FY'27 -1.7%-1.1% 84%▼ Financial Parameters EBITDA outpaced revenue growth, reflecting operating leverage and disciplined cost management while maintaining a stable reve nue mix. Q2 FY’27 V-MART RETAIL LIMITED -7.8%
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66 Same Store Sales Growth (SSSG) (%) Same Store Volume Growth (SSVG) (%) Footfall & Memo (Millions) Average Selling Price (ASP) (₹) % change YoY 19 26 Q2 FY'26 Q2 FY'27 36%▲ 9 10 Q2 FY'26 Q2 FY'27 15%▲ 209 190 388 348 331 424 Total V-Mart Unlimited Total V-Mart Unlimited ASP (Total) ASP (Apparel) 2%▼ 3%▼ 1%▲ 0%▲ 0%▲ 1%▼ Operational Parameters – Key Performance Indicators Strong festive-adjusted SSSG and volume-led traffic expansion reaffirm core brand momentum while maintaining pricing discipline. Q2 FY’27 V-MART RETAIL LIMITED 11% 11% 11% 3% 2% 11%11% 10% 12% Total V-Mart Unlimited Q2 FY'26 Q2 FY'27 Festive Adjusted SSSG Q2 FY'27 6% 5% 17% 5% 4% 10%9% 9% 9% Total V-Mart Unlimited Q2 FY'26 Q2 FY'27 Festive Adjusted SSVG Q2 FY'27 Footfall Memo
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77 YTD FY’27 Key Performance Highlights Financial Parameters Operational Parameters V-MART RETAIL LIMITED 7
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88 Key Highlights: YTD FY’27 vs YTD FY’26 Accelerating store rollout and strong footfall gains drive robust top-line momentum, supported by festive demand alignment and inventory leanings. YTD FY’27 ₹20,418 Mn Revenue ▲ 21% YoY ₹2,467 Mn EBITDA · 12.1% of Revenue ▲ 25% YoY ₹309 Mn PAT · 1.5% of Revenue ▲ 25% YoY 90 Days Inventory Days of Sales ▼ Improved by 7 Days Increasing Customer Traffic Footfall Growth: 37% | Memo Growth: 17% Same Store Sales Growth: 6% V-Mart: 5% | Unlimited: 12% LimeRoad Marketplace Performance NMV Growth: 37% YoY & Losses down: 36% YoY To ₹51 Mn Inventory Days of Sales: -7% YoY Improved from 97 to 90 days — leaner, more efficient operations Store Network: 613 Total Stores V-Mart 509 | Unlimited 104 | Opened 38 | Closed 2 Figures for the corresponding previous period/year have been regrouped/reclassified, wherever necessary V-MART RETAIL LIMITED
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99 Revenue from Operations (₹ Millions) Revenue Mix (%) EBITDA (₹ Millions, % to Revenue) PAT (₹ Millions, % to Revenue) * LimeRoad Commission Income is ₹ 247 Mn (YTD FY’26 ₹ 166 Mn); NMV: Net Merchandise Value 16,921 14,031 2,763 380 20,418 16,742 3,564 520 Total V-Mart Unlimited LimeRoad NMV* YTD FY'26 YTD FY'27 21%▲ 19%▲ 29%▲ 37%▲ 79% 10% 11% 79% 10% 11% Apparel Non-Apparel FMCG YTD FY'26 YTD FY'27 1,977 1,668 388 -80 2,467 1,976 542 -51 Total V-Mart Unlimited LimeRoad YTD FY'26 YTD FY'2725%▲ 18%▲ 40% ▲ 36%▲11.7% 12.1% 11.9% 11.8% 14.1% 15.2% -21.0% -9.9% 247 309 YTD FY'26 YTD FY'27 YTD FY'26 YTD FY'27 1.5% 1.5% 25%▲ Financial Parameters Operating leverage and strategic cost optimization drive margin expansion, strengthening bottom-line resilience. YTD FY’27 V-MART RETAIL LIMITED
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1010 Footfall (Millions) Memo (Millions) Average Transaction Size (₹) Average Selling Price (ASP) (₹) % change YoY 39 53 YTD FY'26 YTD FY'27 37%▲ 18 21 YTD FY'26 YTD FY'27 17%▲ 216 198 390 339 321 426 Total V-Mart Unlimited Total V-Mart Unlimited ASP (Total) ASP (Apparel) 0%▼ 1%▼ 0%▲ 1%▲ 1%▲ 1%▼ 981 910 1,643 1,002 926 1,636 Total V-Mart Unlimited YTD FY'26 YTD FY'27 2%▲ 0%▼ 2%▲ Operational Parameters – Key Performance Indicators Steady growth in store footfalls and transaction bills reinforces brand preference across regional markets. YTD FY’27 V-MART RETAIL LIMITED
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1111 Store Count (Nos) Tier Wise Sales per square feet (Per Month) (₹) Sales per square feet (Per Month) (₹) Retail Space (Million Square Feet) 533 122 63 286 62 613 142 87 317 67 Total Tier 1 Tier 2 Tier 3 Tier 4 YTD FY'26 YTD FY'27 15%▲ 16%▲ 38%▲ 11%▲ 8%▲ 678 718 653 668 666709 722 716 698 703 Total Tier 1 Tier 2 Tier 3 Tier 4 YTD FY'26 YTD FY'27 5%▲ 1%▲ 10%▲ 4%▲ 6%▲ 678 698 592 709 715 681 Total V-Mart Unlimited YTD FY'26 YTD FY'27 5%▲ 2%▲ 15%▲ 4.6 3.7 0.9 5.2 4.3 0.9 Total V-Mart Unlimited YTD FY'26 YTD FY'27 14%▲ 16%▲ 7%▲ Operational Parameters – Network & Space Sustained SPSF growth, disciplined expansion, new stores delivering higher SPSF than matured stores. YTD FY’27 V-MART RETAIL LIMITED
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1212 Same Store Sales Growth (SSSG) (%) Same Store Volume Growth (SSVG) (%) Inventory (Days of Sales) Provision for aged inventory including Shrinkage 5% 5% 5%6% 5% 12% Total V-Mart Unlimited YTD FY'26 YTD FY'27 4% 3% 11% 5% 4% 12% Total V-Mart Unlimited YTD FY'26 YTD FY'27 97 101 101 67 90 93 94 60 Total Apparel Non Apparel FMCG YTD FY'26 YTD FY'27 7%▼ 7%▼ 7%▼ 10%▼ 0.9% 0.9% YTD FY'26 YTD FY'27 Operational Parameters – Efficiency Improved merchandise assortment and supply chain efficiencies led to improvement in inventory days alongside sustained SSSG. YTD FY’27 V-MART RETAIL LIMITED
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1313 Manpower (₹ Millions) Power & fuel (₹ Millions) Advertisement (₹ Millions , % to Total Revenue) Other Expenses (₹ Millions) 1,926 1,546 306 74 2,232 1,809 355 68 Total V-Mart Unlimited LimeRoad YTD FY'26 YTD FY'27 17%▲ 16%▲ 16%▲ 7%▼ 740 606 133 1 869 719 149 1 Total V-Mart Unlimited LimeRoad YTD FY'26 YTD FY'27 17%▲ 19%▲ 12%▲ 297 231 66 386 277 110 Total V-Mart + Unlimited LimeRoad YTD FY'26 YTD FY'27 1.8% 1.9% 1.4% 1.4% 0.4% 0.5% 898 700 132 106 987 830 172 119 Total* V-Mart Unlimited LimeRoad YTD FY'26 YTD FY'27 10%▲ 19%▲ 31%▲ Operating Expenses Optimised expense and economies of scale keep operational overheads well-calibrated with retail network expansion. YTD FY’27 V-MART RETAIL LIMITED 12%▲ *Post inter-divisional expenses.
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1515 V-Mart’s Sale Mix NMV and EBITDA (₹ Millions) 34% 44% 45% 54% 58% Q2 FY'26 Q3 FY'26 Q4 FY'26 Q1 FY'27 Q2 FY'27 V-Mart Inventory contribution in LimeRoad online orders LimeRoad: NMV rises 55% while Losses shrink 32% YoY Strengthening the omni-channel ecosystem through LimeRoad Marketplace. Q2 FY’27 V-MART RETAIL LIMITED 192 235 205 222 298 35 23 30 28 23 Q2 FY'26 Q3 FY'26 Q4 FY'26 Q1 FY'27 Q2 FY'27 NMV EBITDA Loss YOY NMV growth YOY EBITDA Loss reduction 55%▲ 32%▼
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1616 Q2 FY’27 Statement of Profit & Loss Balance Sheet Cash flow Statement
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1717 Statement of Profit & Loss Revenue grew 18% and EBITDA 20%, with margins improving to 9.0%; quarterly PAT remained impacted by depreciation under Ind AS 116. Q2 FY’27 ₹ Millions V-MART RETAIL LIMITED Q2 FY'27 Q2 FY'26 Q2 FY'27 Q2 FY'26 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Revenue from operations 9,530 8,069 18% 9,530 8,069 18% COGS 6,341 5,355 6,341 5,355 Gross Profit 3,189 2,714 18% 3,189 2,714 18% GP Margin % 33.5% 33.6% 33.5% 33.6% Employee Expenses 1,120 976 1,120 976 Other Expenses 1,209 1,022 2,011 1,693 EBITDA / Operating Income 861 715 20% 59 45 32% EBITDA Margin % 9.0% 8.9% 0.6% 0.6% Other Income 27 34 22 17 Depreciation & Amortisation 888 711 280 277 Finance Cost 207 175 62 61 Profit Before Tax (PBT) -207 -136 -52% -260 -276 6% PBT Margin % -2.2% -1.7% -2.7% -3.4% Tax -44 -47 -55 -96 Profit After Tax (PAT) -163 -89 -84% -205 -180 -14% PAT Margin % -1.7% -1.1% -2.2% -2.2% Particulars YOY % YOY % Post Ind AS 116 Pre Ind AS 116
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1818 Statement of Profit & Loss Revenue grew 21% and EBITDA 25%, with margins improving to 12.1%; PBT grew by 32% and PAT grew by 25% Q2 FY’27 ₹ Millions V-MART RETAIL LIMITED FY27 FY26 FY27 FY26 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Revenue from operations 20,418 16,921 21% 20,418 16,921 21% COGS 13,477 11,084 13,477 11,084 Gross Profit 6,941 5,837 19% 6,941 5,837 19% GP Margin % 34.0% 34.5% 34.0% 34.5% Employee Expenses 2,232 1,926 2,232 1,926 Other Expenses 2,242 1,935 3,818 3,255 EBITDA / Operating Income 2,467 1,977 25% 891 657 36% EBITDA Margin % 12.1% 11.7% 4.4% 3.9% Other Income 53 64 45 44 Depreciation & Amortisation 1,727 1,390 544 559 Finance Cost 405 357 118 133 Profit Before Tax (PBT) 388 293 32% 273 9 3088% PBT Margin % 1.9% 1.7% 1.3% 0.1% Tax 80 46 56 1 Profit After Tax (PAT) 309 247 25% 217 7 2907% PAT Margin % 1.5% 1.5% 1.1% 0.0% Post Ind AS 116 Pre Ind AS 116 Particulars YOY % YOY % YTD FY’27
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1919 Ind-AS 116: P&L Impact YTD FY’27 ₹ Millions * Impact of Rent Reversal ** Impact of Profit on Termination of Lease V-MART RETAIL LIMITED Other Expenses* 3,818 -1,576 2,242 3,255 -1,319 1,935 EBITDA 891 1,576 2,466 657 1,319 1,976 Finance Cost 118 287 405 133 224 357 Depreciation 544 1,183 1,727 559 831 1,390 Other Income** 45 9 53 44 20 63 (Loss)/Profit Before Tax (PBT) 273 115 388 9 285 293 YTD FY'26YTD FY'27 Particulars Pre-Ind AS 116 Increased/ (Decreased) Post-Ind AS 116 Pre-Ind AS 116 Increased/ (Decreased) Post-Ind AS 116
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2020 Balance Sheet Disciplined capital allocation and a strong balance sheet support ongoing network expansion and seasonal stock preparation. YTD FY’27 ₹ Millions Particulars As At Particulars As At September 30, 2026 March 31, 2026 September 30, 2026 March 31, 2026 (Unaudited) (Audited) (Unaudited) (Audited) EQUITY AND LIABILITIES ASSETS Equity Property, plant and equipment 6,156 5,836 Equity share capital 796 795 Capital work-in-progress 126 83 Other equity 8,992 8,716 Goodwill 15 15 Total equity (D) 9,788 9,511 Other intangible assets 259 306 Right of use assets 7,832 7,502 Liabilities Financial assets Other financial assets 476 575 Lease liabilities 6,095 6,135 Income tax asset (net) 152 79 Employee benefit obligations 204 193 Deferred tax assets (net) 738 759 Other non-current assets 194 246 Non-current liabilities (E) 6,299 6,328 Non-current assets (A) 15,948 15,401 Financial liabilities Current assets Borrowings 1,900 1,000 Lease liabilities 2,630 2,441 Inventories 11,904 9,875 Payables (including Trade) 5,994 4,910 Financial assets Other financial liabilities 3,944 3,350 Investments 55 184 Employee benefit obligations 117 97 Loans 2 2 Current tax liabilities (net) 3 23 Cash and cash equivalents 130 195 Other current liabilities 133 139 Other financial assets 447 372 Current liabilities (F) 14,720 11,960 Other current assets 2,320 1,770 Total Liabilities (G = E+F) 21,018 18,288 Current assets (B) 14,859 12,398 TOTAL EQUITY LIABILITIES (H = D+G) 30,806 27,799 TOTAL ASSETS (C = A+B) 30,806 27,799 V-MART RETAIL LIMITED
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2121 Cash Flow Statement Negative FCF primarily reflects higher working-capital absorption due to festive inventory build-up and faster vendor payments, with the DPO–DOI gap narrowing by 9 days YoY. YTD FY’27 ₹ Millions V-MART RETAIL LIMITED September 30, 2026 September 30, 2025 (Unaudited) (Unaudited) (A) Cash flows from Operating activities Profit/ (Loss) before Income Tax 388 293 Adjustments to reconcile profit before tax to net cash flows 2,103 1,773 Operating profit before working capital changes 2,492 2,066 Changes in working capital -939 291 Cash flow from operations 1,553 2,357 Taxes paid (net of refunds) (151) (30) Net cash flow from operating activities (A) 1,402 2,327 (B) Cash flows from Investing activities Net cash flow (used in)/from investing activities (B) (638) (597) (C) Cash flows from Financing activities Net cash from/(used in) financing activities (C) (830) (1,885) Net increase/(decrease) in cash and cash equivalent (D = A+B+C) (66) (156) Particulars For the period ended Net cash flow from operating activities (A) 1,402 2,327 IndAS 116 adjustment (B) (1,576) (1,319) Pre IndAS 116 Net cash flow from operating activities (C) = (A+B) -174 1,008 Net Capex (D) (846) (600) Finance charges - others (E) (118) (142) Net Free Cash Flow (F) = (C+D+E) -1,138 266 September 30, 2025September 30, 2026 For the period ended Free Cash Flow (Pre-Ind AS 116)
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2222 Store Geographical Spread Other Significant Updates Q2 FY’27 V-MART RETAIL LIMITED 22
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2323 Cluster-Based Expansion — New Store Additions Accelerating cluster-based store rollout deepens market presence across high-potential Tier 2 and Tier 3 catchments. Q2 FY’27 New Stores by State (Q2 FY’27) 7 3 3 2 2 1 1 1 1 1 1 Uttar Pradesh Bihar Madhya Pradesh Tamil Nadu Punjab Haryana West Bengal Goa Gujarat Andhra Pradesh Rajasthan New Stores by Tier 6 8 9 0 Tier 1: 6 Tier 2: 8 Tier 3: 9 Tier 4: 0 23 New stores opened in Q2 FY’27 1 Store Closed · Net addition of 22 stores · Total network now 613 stores across 351 cities, spanning 5.2 Million sq.ft. V-MART RETAIL LIMITED
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2424 Total Stores as on 30th September 2026 Q2 FY’27 V-MART RETAIL LIMITED V-mart V-mart V-Mart Unlimited © GeoNames, Microsoft, TomTom Powered by Bing 190 41 34 33 26 20 20 22 18 14 13 19 15 11 5 7 6 2 2 1 3 85 7 4 2 Stores as on 30th September 2026 613 Stores in Tier III & IV cities 384 100 % Stores serving Digital Orders Stores in Tier I & II cities 229 STATE Q2 FY'27 Q2 FY'26 UTTAR PRADESH 190 162 BIHAR 85 76 TAMIL NADU 41 33 RAJASTHAN 34 30 JHARKHAND 33 31 WEST BENGAL 26 21 UTTARAKHAND 22 18 KARNATAKA 20 21 MADHYA PRADESH 20 16 GUJARAT 19 13 TELANGANA 18 18 ORISSA 15 15 ASSAM 14 15 ANDHRA PRADESH 13 12 JAMMU AND KASHMIR 11 10 NEW DELHI 9 7 PUNJAB 7 4 TRIPURA 7 7 HARYANA 6 4 MAHARASHTRA 5 6 KERALA 4 4 CHHATTISGARH 3 1 ARUNACHAL PRADESH 2 2 MANIPUR 2 2 MEGHALAYA 2 2 PUDUCHERRY 2 1 CHANDIGARH 1 1 GOA 1 0 HIMACHAL PRADESH 1 1 TOTAL 613 533
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2525 New Stores Opened —Q2 FY’27 Q2 FY’27 Madhya Pradesh V-MART RETAIL LIMITED Rajasthan Tamil Nadu
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2626 V-Mart at a Glance Our Story Historical Performances Leadership Business Ecosystem V-MART RETAIL LIMITED 26
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2727 Our Private Labels 66%+ contribution of Private Labels in Apparel Business Men ▪ Casual Wear ▪ Formal Wear ▪ Ethnic Wear ▪ Sports/ Activewear ▪ Innerwear 44% Women ▪ Western Wear ▪ Ethnic Wear ▪ Sportswear ▪ Activewear ▪ Inner Wear ▪ Night Wear 29% Kids ▪ Boys ▪ Girls ▪ Infants 27% Fashion Accessories ▪ Fashion Accessories ▪ Footwear ▪ Home Essentials ▪ Bags FMCG ▪ Personal & Home Essentials ▪ Beauty & Cosmetics ▪ Packaged Staples Driving Product Portfolio & Strong Private Labels V-MART RETAIL LIMITED Apparels 79% FMCG 11% Accessories 10% Above numbers are for the period ended 30th September 2026
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2828 Delivering Fashion, Variety & Affordability V-MART RETAIL LIMITED
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2929 6 Lakh sq.ft. Owned Warehouse – Palwal, Haryana Strategically Located across North & South Automated workflow using scanners and conveyers 600+ Vendors supplying inventory across categories 2 Warehouses Palwal (near Delhi) & Bengaluru 613 Stores, 351 Cities reaching 400+ pincodes pan-India 190 Mn+ Pieces/year handled and dispatched Bi-weekly Fashion drops across 250+ routes & 613 stores Integrated Supply Chain & Future-Ready Infrastructure Tech-enabled, centralized logistics network powers rapid store replenishment and optimized inventory turn across all regions. V-MART RETAIL LIMITED Bangalore Warehouse Palwal
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3030 39 43 50 73 90 FY20 FY23 FY24 FY25 FY26 266 279 380 423 444 497 577 55 20 39 59 46 62 92 FY20 FY21 FY22 FY23 FY24 FY25 FY26 Total Stores New Stores Opened 2.2 2.3 3.3 3.7 3.9 4.3 5.0 FY20 FY21 FY22 FY23 FY24 FY25 FY26 Growing Store Count Expanding Retail Space (Mn sq. ft.) Increasing footfalls (in Millions) Growing Memo (in Millions) *Store growth includes acquisition of 74 store of Unlimited in FY22; FY21 & FY22 numbers are not comparable due to impact of COVID 4 years CAGR 11% * 22 23 27 32 38 FY20 FY23 FY24 FY25 FY26 Historical Scale Expansion & Customer Growth
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3131 3.0% -0.3% 1.4% 3.3% FY20 FY23 FY24 FY25 FY26 PAT % 12.9% 10.9% 7.7% 11.6% 13.5% FY20 FY23 FY24 FY25 FY26 EBITDA % 16,620 24,648 27,856 32,539 37,894 16% 48% 13% 17% 16% FY20 FY23 FY24 FY25 FY26 Revenue YoY Growth FY 21 & FY22 numbers are not comparable due to impact of COVID; Numbers above includes acquisition of 74 store of Unlimited in FY22 and acquisition of LimeRoad.com in FY23 Profitable Growth (₹ Mn) Sales Per Square feet (Annual SPSF ) (₹)Profit After Tax (PAT) (₹ Mn) Consistent Revenue Growth (₹ Mn) 4 years CAGR 81% 4 years CAGR 23% 4 years CAGR 26% 2,138 2,689 2,131 3,771 5,134 9,108 7,476 7,692 8,521 8,735 FY20 FY23 FY24 FY25 FY26 759 623 641 710 728 SPSF (monthly) 493 -78 -968 458 1,240 Historical Financial Growth & Value Creation
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3232 86 114 113 96 93 FY20 FY23 FY24 FY25 FY26 Days of Inventory (DOI) Same Store Volume Growth (SSVG) (%) Same Store Sales Growth (SSSG) (%) Average Transaction Size (₹) & Apparels ASP (₹) 11% 15% 10% 8% 1% 11% 0% 12% 9% Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 11% 7% 10% 8% 1% 6% 2% 10% 6% Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 789 1,100 1,065 1,045 1,033 334 382 358 354 362 FY20 FY23 FY24 FY25 FY26 Average Transaction Size Average Selling Price (Apparels) FY 21 & FY22 numbers are not comparable due to impact of COVID; Numbers above includes acquisition of 74 store of Unlimited in FY22 and acquisition of LimeRoad.com in FY23 Historical Productivity & Operational Excellence
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3333 24th ICSI National Awards for Exellence in Corporate Governance in 2025 Globally ranked 19th best Integrated Annual Report in 2026 Ambition Box Employer Choice Awards 2024 (ABECA) Golden Peacock Award” for excellence in Corporate Governance by Institute of Directors, 2022 “India's Best Workplaces in Retail 2022, 2021 & 2020” by Great Places to Work “Masters of Risk - Retail & Consumer Sector” in Mid Cap category, CNBC India Risk Management Awards 2022 Retail Brand of the Year 2024 by Great India Retail Awards Silver Shield - ICAI Awards for Exellence in Financial Reporting in 2026 Awards & Recognition Prestigious industry honors reinforce our commitment to governance excellence, brand leadership, and workplace culture. V-MART RETAIL LIMITED
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3434 Independent Director Shweta Kumar ▪ 25+ years of expertise in organizational transformation, team empowerment, leadership development and cultural evolution ▪ Held leadership roles at OD, Disperz, Honeywell, Motorola and Pay U Independent Director Raghuvesh Sarup ▪ 30+ years of experience in Telecom, Technology, Retail and Consumer Goods ▪ Held leadership roles at Microsoft, Ola, Nokia, Yum! Brands and P&G Promoter & Managing Director Lalit Agarwal ▪ 25+ years of retail experience and pioneer in introducing the concept of value retailing in India ▪ Chairperson of Retailers’ Association of India, Northern Region ▪ Confederation of Indian Industry (CII) – Chairperson, Retail, Northern Region Promoter & Whole Time Director Madan Gopal Agarwal ▪ 56+ years of experience in retail industry ▪ Ran multiple retail businesses in Kolkata & Cuttack Chairperson & Non- Executive Director Aakash Moondhra ▪ Former Global CFO of Naspers Fintech and PayU ▪ Held various leadership positions in Nokia, Bharti Retail Pvt Ltd, Bharti Airtel Ltd Independent Director Govind S. Shrikhande ▪ 30+ years of experience in Textile, Apparel and Retail Industry ▪ Ex-managing director of Shoppers’ Stop ▪ Held leadership roles in Bombay Dyeing, Johnson & Johnson, Mafatlal Apparel & Arvind Mills Experienced Board Driving Long-Term Value V-MART RETAIL LIMITED
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3535 COO & CFO Anand Agarwal 25+ years of experience in strategic planning, finance, legal, treasury, M&As, investor relations and board management Chief Digital Officer Jaideep Jaiman 14 years of experience across Retail, IT & Consultancy Head Inventory Planning Nitin Goel 15+ years expertise in IT, Retail, planning and Process automation Head Warehouse & Logistics Sanjay Sarkar 24+ years of experience of warehouse operations, logistics transformation, and operational excellence Head Human Resources & CSR Anjali Goel 19+ years of experience in effective leadership hiring, OD & Change Management, Talent Management, Workforce Planning, Employee Engagement Head Information Technology Dinesh Srivastava 21+ years of experience in Cyber security, Process automation, Information Security, and Risk in retail and operations 9+ Years with Vmart 7+ Years with Vmart 11+ Years with Vmart13+ Years with Vmart 15+ Years with Vmart 10+ Years with Vmart Leadership Team Executing the Growth Strategy Head of Finance Suraj Rathor 15+ years of experience in Retail, F&B and FMCG, driving financial strategy, controllership, business growth, reporting, governance, and investor relations 3+ Years with Vmart V-MART RETAIL LIMITED Head Merchandising Varin Agarwal 4+ years of experience across merchandising, product assortment, category management, business strategy, operations, growth and development ~2 Years with Vmart
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3636 Thank You www.vmart.co.in | www.limeroad.com For further information, please contact: Suraj Rathor · suraj.rathor@vmartretail.com Investor Relations · ir_vmart@vmartretail.com V - M A R T R E T A I L L I M I T E D