V2 Retail Ltd

About

V2 Retail offers an unparalleled retail mix, a large Variety of Smart, Trendy, Fashionable apparels across categories under one roof. The company was incorporated in 2001 as Vishal Megamart Limited. In 2007 the company went public, later in 2011 the brand “Vishal” was sold due to operational losses to start a new journey with the name V2 Retail Ltd. [1] The company’s business operates only in India. [2]

Key Points

Business Segment
Apparels (92% of total revenue) [1]
The company’s product portfolio mix includes Men’s Wear, Ladies Wear and Kids Wear. [2]

See full details
  • Market Cap 529 Cr.
  • Current Price 154
  • High / Low 155 / 44.5
  • Stock P/E
  • Book Value 79.0
  • Dividend Yield 0.00 %
  • ROCE 2.74 %
  • ROE -4.00 %
  • Face Value 10.0

Pros

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 10.05% over past five years.
  • Company has a low return on equity of 3.20% for last 3 years.
  • Earnings include an other income of Rs.23.87 Cr.

Peer comparison

Sector: Retail Industry: Textiles - Products

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
156 241 164 202 151 219 129 37 85 227 189 83
164 211 160 175 139 185 126 37 81 187 185 81
Operating Profit -8 31 4 28 12 34 3 -0 4 41 4 2
OPM % -5% 13% 3% 14% 8% 15% 2% -0% 5% 18% 2% 2%
Other Income -20 1 2 0 0 14 1 7 5 1 8 9
Interest 0 0 0 7 8 7 7 7 7 8 9 9
Depreciation 4 4 4 13 13 12 12 12 13 15 14 15
Profit before tax -32 27 1 8 -10 28 -15 -12 -10 19 -11 -13
Tax % 42% 14% -186% -48% -8% 26% 25% 24% 24% 28% 20% 22%
Net Profit -19 24 4 11 -10 21 -12 -9 -7 14 -9 -10
EPS in Rs -5.44 6.92 1.23 3.36 -3.07 6.09 -3.40 -2.62 -2.15 4.05 -2.52 -2.98

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
1,105 1,065 42 109 229 287 334 472 559 748 701 539 584
1,615 1,115 50 108 224 258 302 429 506 699 623 490 534
Operating Profit -510 -51 -8 1 5 28 32 43 54 49 79 49 51
OPM % -46% -5% -19% 1% 2% 10% 10% 9% 10% 7% 11% 9% 9%
Other Income 9 10 -0 1 2 3 6 25 3 -17 15 22 24
Interest 91 12 8 7 9 10 14 10 3 3 32 30 32
Depreciation 47 34 3 2 3 2 4 6 8 14 50 54 57
Profit before tax -639 -87 -19 -7 -5 18 20 52 46 15 10 -13 -14
Tax % 35% 25% -81% 26% 17% 47% 40% 24% 32% -36% 3% 16%
Net Profit -415 -65 -35 -5 -5 10 12 39 31 20 10 -11 -12
EPS in Rs -185.15 -29.10 -15.53 -2.35 -2.01 4.14 4.89 12.62 9.16 6.01 2.98 -3.24 -3.60
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years:-7%
5 Years:10%
3 Years:-1%
TTM:9%
Compounded Profit Growth
10 Years:6%
5 Years:%
3 Years:%
TTM:37%
Stock Price CAGR
10 Years:21%
5 Years:5%
3 Years:-21%
1 Year:210%
Return on Equity
10 Years:2%
5 Years:6%
3 Years:3%
Last Year:-4%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
22 22 22 22 22 24 25 31 34 34 34 34
Reserves -256 285 253 248 241 250 263 125 240 261 246 238
Borrowings 766 64 57 70 83 69 98 9 0 11 311 387
245 2 10 27 39 62 64 75 115 158 116 134
Total Liabilities 778 374 342 368 385 405 449 240 389 464 707 793
222 10 7 9 14 18 29 51 63 100 330 387
CWIP 0 0 0 1 0 1 4 4 7 4 4 0
Investments 0 30 33 32 31 30 25 0 90 0 15 15
556 333 302 326 340 355 391 185 231 360 359 391
Total Assets 778 374 342 368 385 405 449 240 389 464 707 793

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
58 88 -38 -12 12 36 -15 -1 27 -48 94 -15
5 56 -1 -4 -7 -6 -9 -12 -110 41 -5 -16
-67 -111 6 8 -4 -30 26 16 81 11 -37 -14
Net Cash Flow -4 33 -33 -8 0 -1 2 3 -1 4 52 -45

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 1 0 0 0 0 0 0 0 0 0 7 10
Inventory Days 64 0 188 207 118 141 177 126 154 195 142 255
Days Payable 52 89 114 60 60 61 71 97 100 79 113
Cash Conversion Cycle 13 0 100 93 58 81 116 54 58 95 69 152
Working Capital Days 13 0 84 73 42 41 79 48 56 82 62 76
ROCE % -74% -16% -2% 0% 1% 8% 8% 14% 21% 13% 7% 3%

Shareholding Pattern

Numbers in percentages

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
51.14 51.14 51.14 51.14 51.14 52.37 53.62 53.62 53.62 54.00 54.00 54.00
10.54 10.39 10.37 10.35 9.84 9.32 6.45 6.45 6.45 6.45 6.45 6.45
1.20 3.32 4.52 5.64 5.61 5.69 5.22 2.90 1.53 1.53 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.00 0.00 0.00 0.00 0.00
37.13 35.15 33.97 32.88 33.41 32.62 34.71 37.03 38.41 38.02 39.55 39.54

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