Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

V2Retail Ltd announces Q2, H1 FY19 results

Posted On: 2018-11-05 12:45:29

Financials at a Glance:

Revenue:

- Revenue during the quarter grew by 13% Y-o-Y in Q2FY19 from Rs. 1,375 mn to Rs. 1,557 mn. Revenue for H1 FY19 grew by 23% Y-O-Y from Rs. 2,798 mn to Rs. 3,434 mn.

- Durga Puja and Navaratra festivals during FY18 were celebrated in September vis--vis in October for FY19. This has led to shift in festival demand from H1 to H2 in FY19 as compared to FY18. We have significant presence in Eastern and North eastern part wherein major demand is witnessed during festival time. Hence, the figures may not be comparable.

Gross Profit:

- Gross Profit for the quarter increased from Rs. 429 mn to Rs. 463 mn. Gross margins for the quarter declined from 31.2% to 29.8%. Gross Profit for the Half year increased from Rs. 875 mn to Rs. 1,093 mn. Gross margins for the Half year increased from 31.3% to 31.8%.

EBIDTA:

- EBIDTA for the quarter declined by 179% Y-o-Y in Q2FY19 from Rs. 100 mn to Rs. (79) mn. EBIDTA for the Half year declined by 53% Y-o-Y in H1FY19 from Rs. 254 mn to Rs. 100 mn.

Profit Before Tax:

- Profit / (Loss) Before Tax (PBT) declined from Rs. 81 mn in Q2FY18 to Rs. (317) mn in Q2 FY19. Profit / (Loss) Before Tax (PBT) for H1 FY19 declined from Rs. 219 mn to Rs. (139) mn.

Profit After Tax (PAT):

- Profit / (Loss) After Tax (PAT) declined from Rs. 50 mn in Q1FY18 to Rs. (185) mn in Q2 FY19. Profit / (Loss) After Tax (PAT) for H1 FY19 declined from Rs. 137 mn to Rs. (73) mn.

- Exceptional items amounting to Rs. 253 mn for the quarter and period ended 30 September 2018, represents one time settlement amount which the Company has agreed to pay the lenders for relinquishing their Right of Recompense (ROR) for the sacrifices made by them in Financial year 2010-2011 under the Corporate Debt Restructuring (CDR) package vide Master Restructuring Agreement (MRA) entered into in November, 2010. The Company has vide letter dated 21 August 2018 to the lenders offered to pay above said amount upto 28 February 2019.

- Other income includes gain of Rs. 46 mn on Sale of CCD of TPG Wholesale Private Limited.

- The Net amount payable by the company is approx Rs. 220 mn after adjusting sale value of CCD, FDR and other related matters with the CDR lenders. CDR lenders have agreed to release all the securities held by them and shall not raise any claim of whatsoever nature against the company in terms of the MRA after payment of the said amount.

Others:

- The Company has opened 8 new stores during the quarter Q2FY19.

- The Company operates 70 stores spread across 17 states and 65 cities with a total retail area in excess of 8 lac Sq. Ft.

Commenting on the results and performance, Mr. Ram Chandra Agarwal, Chairman & Managing Director said: "At V2 Retail, we believe that continuous improvement in technology and processes are important for any organisation to attain sustained growth. As a part of the expansion strategy, the Company added 8 new stores during the Quarter taking the total count to 70 stores spread across 17 states. We believe that the momentum should continue in the coming quarters also. Our focus will be Tier 2 and Tier 3 cities as we see a large potential there.

The festive demand which commences with Durga Puja and Navratara followed by Diwali and wedding season post that, all of which are likely to translate into healthy growth. We have significant presence in Eastern and North East part of the country, where historically the demand during this period has been on a higher side. We are all set to take advantage of the season and have also invested in inventories to cater to the spurt in demand.

The Indian consumer is evolving with respect to habits, lifestyles, tastes and preferences. Our dedicated team of experts are continuously on job trying to understand the consumer needs through market research and keep churning our product basket as per needs of the consumer."

Shares of V2 RETAIL LTD. was last trading in BSE at Rs.295.35 as compared to the previous close of Rs. 300.25. The total number of shares traded during the day was 16254 in over 391 trades.

The stock hit an intraday high of Rs. 308 and intraday low of 290. The net turnover during the day was Rs. 4864673.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Sicagen India Ltd board to consider Q3 results on Feb 13, 2019

Delhi Airport Metro Express updates on arbitration award

SPML Infra Limited board to announce third quarter results on Feb 8, 2019

ITI Limited signs contract with Gujarat Fibre Grid Network Ltd

Swaraj Automotives Ltd board to announce third quarter results on Feb 1, 2019

HDFC Bank announces Q3 FY19 results

JK Agri Genetics Ltd board to announce Q3 results on Jan 30, 2019

K P R Mill Ltd board to consider Q3FY19 results on Jan 28, 2019

Paramount Communications Ltd board to approve 3rd quarter results on Feb 1, 2019

Sutlej Textiles and Industries Ltd board to announce third quarter results on Feb 5, 2019

PSP Projects Ltd receives new work orders worth Rs. 572.17 crores

Sarla Performance Fibers Ltd calls for board meeting on Feb 1, 2019

Bliss GVS Pharma Ltd board to consider Q3FY19 results on Jan 29, 2019

HDFC Bank appoints Mr. Sandeep Parekh as additional independent director

Governance Award for BEML

Munjal Showa Ltd board to approve quarterly results on Feb 4, 2019

IP Rings Ltd board to announce 3rd quarter results on Feb 1, 2019

Dwarikesh Sugar Industries Ltd board to announce Q3 results on Feb 2, 2019

SEBI asks Larsen & Toubro Ltd not to proceed with buyback

HDFC Bank Ltd Q3 net profit rises to Rs. 5585.85 crores

ARO Granite Industries Ltd Q3 PAT soars to Rs. 4.16 crore

Hindustan Oil Exploration Company Ltd posts jump in Q3 PAT to Rs. 34.81 crores

South Indian Bank Ltd Q3 net profit drops to Rs. 83.85 crores

Nava Bharat Ventures Ltd board to announce Q3 results on Feb 7, 2019

Freshtrop Fruits Ltd board to approve 3rd quarter results on Jan 29, 2019

Gujarat Intrux Ltd board to approve quarterly results on Jan 29, 2019

Maithan Alloys Ltd board to announce Q3 results on Jan 28, 2019

Sri Ramakrishna Mills Coimbatore Ltd calls for board meeting on Feb 13, 2019

PVR Cinemas and BookMyShow celebrate the second successful year of VKAAO

SPML Infra Ltd's Chairman received Economic Times Most Promising Business Leaders of Asia 2018 Award

DCM Shriram Industries Ltd board to approve third quarter results on Feb 2, 2019

Machino Plastics Ltd calls for board meeting on Jan 30, 2019

Honda SIEL Power Products Ltd board to announce 3rd quarter results on Feb 6, 2019

Precision Camshafts Ltd board to consider Q3 results on Feb 7, 2019

Vascon Engineers Ltd to raise Rs. 110 crores through NCD issue

Healthcare Global Enterprises Limited calls for board meeting on Feb 7, 2019

Welspun Enterprises Ltd board to consider third quarter result son Jan 29, 2019

RBI approves appointment of V Vaidyanathan as MD & CEO of IDFC First Bank Ltd

International Combustion India Ltd calls for board meeting on Feb 8, 2019

Gujarat Hotels Ltd board to approve third quarter results on Jan 30, 2019

Thangamayil Jewellery Ltd board to announce Q3FY19 results on Feb 8, 2019

Vesuvius India Ltd board to consider Q4, CY18 results on Feb 28, 2019

Rossell India Ltd board to announce 3rd quarter results on Feb 5, 2019

Entertainment Network India Ltd board to approve third quarter results on Feb 6, 2019

CEAT Ltd board to consider Q3 results on Jan 28, 2019

Minda Industries Ltd issues CP of Rs. 30 crore

Zee Learn Limited continues strong growth momentum in Q3 FY19

ICICI Lombard General Insurance Company Ltd announces Q3 results for FY2018-19

SBI Life Insurance Company Ltd announces Q3FY19 results

Omax Autos Ltd reports Q3 PAT of Rs. 1.57 crore







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019