Sale of Products
Sale of products increased by 37.68% from % 2,837.14 million in Fiscal 2019 to = 3,906.13 million in Fiscal 2020.

e Revenue from EBOs increased by 43.45% from % 1,859.23 million in Fiscal 2019 to 2 2,667.13 million in
Fiscal 2020, primarily due to increased number of stores.

« Revenue from LFSs increased by 34.86% from 2 763.86 million in Fiscal 2019 to 2 1,030.17 million in Fiscal
2020, primarily due to increased number of stores and Same Store Sales Growth.

e Revenue from other channels, i.e. online increased by 6.17% from % 35.97 million in Fiscal 2019 to % 38.18
million in Fiscal 2020 and MBO’s, decreased by 16.19% from = 139.58 million in Fiscal 2019 to = 116.98
million in Fiscal 2020, primarily driven by increased sales through cash and carry.

Other Operating Revenue

Other operating revenue decreased by 8.61% from % 15.33 million in Fiscal 2019 to % 14.01 million in Fiscal 2020
primarily due to a decrease in revenue from scrap sales, attributable to reduced sale of imperfect goods.

Other Income

Other income decreased by 15.82% from 2 57.32 million in Fiscal 2019 to 48.25 million in Fiscal 2020, primarily
due to a decrease in income from investments in mutual funds by 66.43% from 2 28.69 million in Fiscal 2019 to
% 9.63 million in Fiscal 2020; and a decrease in net gain on foreign exchange transaction and translation to a nil
in Fiscal 2020 from % 3.27 million in Fiscal 2019. This was partially offset by an increase in income from bank
deposits by 71.61% from % 13.28 million in Fiscal 2019 to 2 22.79 million in Fiscal 2020; and an increase in
income from security deposits measured at amortised cost by 29.90% from 2 9.80 million in Fiscal 2019 to =
12.73 million in Fiscal 2020.

 

Expenses

Total expenses increased by 32.07% from % 2487.65 million in Fiscal 2019 to = 3,285.53 million in Fiscal 2020,
primarily due to an increase in cost of materials consumed, purchase of stock in trade and employee benefit
expenses driven by an increase in scale of our operations in Fiscal 2020.

Cost of materials consumed

Cost of materials consumed increased by 27.14% from % 835.37 million in Fiscal 2019 to = 1,062.06 million in
Fiscal 2020 due to an increase in opening stock by 124.83% from % 73.41 million in Fiscal 2019 to = 165.05
million in Fiscal 2020; and an increase in purchases including purchase of fabric, accessories, packing material
and yarn in Fiscal 2020 owing to increased sales.

Purchases of stock-in-trade

Purchases of stock-in-trade (garments) increased by 112.82% from % 284.08 million in Fiscal 2019 to = 604.59
million in Fiscal 2020 due to new products / categories being outsourced as finished garments.

Changes in inventories, finished goods and work-in-progress

Inventories of finished goods and work-in-progress reflect a net increase by 68.28% from % 537.67 million in Fiscal
2019 to 904.80 million in Fiscal 2020 attributable to an increase in operations.

Subcontracting charges

Subcontracting charges include subcontracting and sample making charges that increased by 34.87% from % 204.52
million in Fiscal 2019 to 275.83 million in Fiscal 2020 due to increased outsourcing to vendors.

Employee benefits expense

Employee benefits expenses increased by 47.64% from % 419.63 million in Fiscal 2019 to % 619.54 million in
Fiscal 2020, primarily due to an increase in salaries, wages and bonus by 48.88% from % 389.85 million in Fiscal

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