Earnings Call for Q2FY22 of Vaibhav Global
Conference Call with Vaibhav Global Management and Analysts on Q2FY22 Performance and Outlook. Listen to the full earnings transcript.29-10-2021
29-10-2021
Vaibhav Global Ltd - 532156 - Announcement under Regulation 30 (LODR)-Newspaper Publication
Please find enclosed copy of Newspaper Publication with regard to Notice of Record Date for the purpose of 2nd Interim Dividend published on 28th October, 2021 in Financial Express (English edition) and Business Remedies (Hindi edition). This is for your information and record.28-10-2021
Q2FY22 Quarterly Result Announced for Vaibhav Global Ltd.
Highlights Resilient Performance, Expanding Digitally and Geographically Declared interim dividend of Rs. 1.5 per share Q2 and H1 revenue grew by 6.0% and 14.6% Y-o-Y respectively. Compared to same periods of FY20, revenue in Q2 and H1 grew strongly by 30.9% and 42.3% respectively Digital revenue mix continuously increasing, now at 36% of total retail revenue Strong Q2 gross margin at 63.9%, improvement of 100 bps Y-o-Y EBITDA margin in Q2 FY22, excluding Germany, was at 13.5% vs 16.5% in Q2 FY21. Margin momentarily impacted by elevated sea freight and sustained investment on digital platforms PAT for Q2 and H1 was Rs. 42 crores and Rs. 141 crores respectively vis-à-vis Rs. 71 crores and Rs. 123 crores for same period last year Strong return ratios with ROCE at 51% and ROE at 28% (TTM basis) Declared interim dividend of Rs 1.50 per share (face value Rs 2 each) making cumulative interim dividend of Rs. 3.00 per share Commenting on the performance for Q2 FY22 Mr. Sunil Agrawal, Managing Director, Vaibhav Global Limited said In Q2 we have seen our revenues at Rs. 635 crore an increase of 6% Y-o-Y and over Q2 FY20 we have seen a much stronger growth of 30.9%. With the vaccination in both US and UK reaching pivotal levels, severity of threat from Covid has largely reduced. As US and UK economies have more or less fully opened, we have seen consumer behavior moving to something we call revenge outings implying substantial increased in-person shopping in brick-and-mortar stores and people going out on holidays. This has led to lower in-house shopping for home retailers like us. Retail Revenues for us, grew by 3.3% Y-o-Y. After a massive jump last year, overall E-Commerce as a percentage of retail sales has dipped in both US and UK in recent months. We believe that these headwinds are transient and are well placed to continue our growth trajectory in coming years. We are committed to our original guidance of 16-18% constant currency revenue growth for current financial year. Gross margin continues to be strong, however, EBITDA margin were impacted due to several factors, including higher shipping costs owing to global supply chain constraints, initial operating costs in the recently launched German operations, increased airtime spend as we onboarded new TV channels and OTT platforms and stepped up our digital marketing investments. These investments have already given us 5.3% increased new customers in Q2 compared to pandemic induced high new customer count in Q2 FY21. When we adjust for customers who bought essentials, the increase would be 33.9% and compared to Q2 FY20, the increase would be substantially higher at 61.0%. We see both growth and margin pressures as transient, being linked to either strategic growth initiatives or near-term changes in the operating environment. Our recent launch of operations in Germany has got off to an encouraging start. We are available on bothTV and Digital Platforms in this significant market with a similar value proposition and customer profile as the US & UK. We are already seeing positive customer traction and our investments should create returns on capital over time. We remain confident to meet our target of breaking-even within three years of launch. Company continues with its investment in Products, Channels and enhancing its Digital Capabilities. We strengthened our warehouse operations digitally through investment in GEEK+ robots which would improve the picking productivity substantially. The Company launched ‘TAMSY’- a new fashion apparel brand for women in USA, UK and Germany. During the quarter, we also acquired worldwide online brand rights of ‘RACHEL GALLEY’- a UK based multiple-award winning jewelry brand. The 4R’s- widening Reach, new customer Registrations, customer Retention and Repeat purchases remains to be our key priorities for overall growth. Our vertically integrated model and a wider but robust supply chain network is the backbone of our business and a key differentiator vis-a-via peers. We are also a firm believer of being a ‘Responsible Corporate Citizen’. Well-being of all our employees, vendors and customers is at the core of our strategies. An interim dividend of Rs. 1.50 per share (face value of Rs. 2 per share) has been declared by the Board. The fundamental growth driver remains intact, attractive, and we continue to invest in products & channels to build a sustainable infrastructure for long-term growth & value creation of all stakeholders. Result PDF28-10-2021
Vaibhav Global Ltd - 532156 - Board declares Second Interim Dividend
Vaibhav Global Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 27, 2021, inter alia, has considered and approved the following:- 2nd Interim Dividend of Rs. 1.50/- per Equity Share (i.e. 75% on the face value of Rs. 2/- per Equity Share) for the financial year 2021-22.28-10-2021
Vaibhav Global Ltd - 532156 - Announcement under Regulation 30 (LODR)-Press Release / Media Release
Please find enclosed press release titled 'Vaibhav Global Limited Q2 & H1 FY22 Financial Results' Kindly take the same on record.28-10-2021
Vaibhav Global Ltd - 532156 - Announcement under Regulation 30 (LODR)-Press Release / Media Release
Please find enclosed press release titled 'Vaibhav Global Limited Q2 & H1 FY22 Financial Results' Kindly take the same on record.28-10-2021
Vaibhav Global Ltd - 532156 - Announcement under Regulation 30 (LODR)-Investor Presentation
Pursuant to regulation 30(6) of the SEBI (LODR) Regulations, 2015 please find enclosed Financial Results Presentation of Q2 & H1 FY22. Kindly take the same on record.28-10-2021
Vaibhav Global Ltd - 532156 - Board Meeting Outcome for Outcome Of Board Meeting - 27Th October, 2021
Outcome of Board Meeting - 27th October, 202127-10-2021
Vaibhav Global Ltd - 532156 - Un-Audited Financial Results For The Quarter / Half Year Ended 30Th September, 2021
Un-audited Financial Results for the quarter / half year ended 30th September, 202127-10-2021
Vaibhav Global Ltd - 532156 - Intimation Of Schedule Q2 & H1 FY2022 Earnings Conference Call With Investors And Analysts Under SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015
Pursuant to regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 we wish to inform you that Q2 & H1 FY2022 earnings conference call with Investors and Analysts is scheduled on Thursday, October 28, 2021 at 5:00 pm IST. Note: Any unforeseen exigency on the part of Company / Investors / Analysts may lead to change in date / time.23-10-2021