e Revenue from EBOs decreased by 35.23% from 2 2,667.13 million in Fiscal 2020 to = 1,727.62 million in
Fiscal 2021.

« Revenue from LFSs decreased by 46.46% from 1,030.17 million in Fiscal 2020 to = 551.58 million in Fiscal
2021.

e Revenue from other channels, i.e. online increased from 2 38.18 million in Fiscal 2020 to 2 119.40 million in
Fiscal 2021.and MBO’s decreased by 38.82% from % 116.98 million in Fiscal 2020 to 2 71.57 million in
Fiscal 2021, primarily driven by increased online purchases by customers due to COVID-19.

Other operating revenue

Other operating revenue also decreased by 54.39% from % 14.01 million in Fiscal 2020 to % 6.39 million in Fiscal
2021 primarily due to a decrease in scrap and exhibition sales.

Other income

Other income increased from % 48.25 million in Fiscal 2020 to 2 315.84 million in Fiscal 2021, primarily due to
an increase in income from rent concession / early termination of lease agreements to = 243.31 million in Fiscal
2021 from no such income in Fiscal 2020 on account of the company electing to apply the practical expedient of
not assessing the rent concessions as a lease modification, as per Ministry of Corporate Affairs (MCA) notification
dated July 24, 2020 on Ind AS 116 for rent concessions, which are granted due to COVID-19 pandemic; the
company has also recognised 2 11.93 million, as other income arising out of difference between the closing lease
asset & liability value, on account of short closure of lease agreements and an increase in income from security
deposits measured at amortised cost by 211.94% from % 12.73 million in Fiscal 2020 to % 39.71 million in Fiscal
2021.

This was partially offset by a decrease in income from bank deposits by 48.00% from 2 22.79 million in Fiscal
2020 to = 11.85 million in Fiscal 2021 and on investments in mutual funds by 53.79% from % 9.63 million in
Fiscal 2020 to % 4.45 million in Fiscal 2021.

Expenses

Total expenses decreased by 13.14% from 2 3,285.53 million in Fiscal 2020 to % 2,853.87 million in Fiscal 2021,
primarily due to the decreased scale of our operations during the COVID-19 pandemic.

Cost of materials consumed

Cost of materials consumed significantly decreased by 53.96% from 2 1062.06 million in Fiscal 2020 to 2 488.97
million in Fiscal 2021 due to a decline in purchases of raw materials primarily due to reduced sales on account of
reduced demand for products as a result of store closures, economic uncertainty and other factors arising out of
the COVID-19 pandemic.

Purchases of stock-in-trade

Purchases of stock-in-trade (garments) decreased from % 604.59 million in Fiscal 2020 to % 218.17 million in
Fiscal 2021 primarily due to delays in garment sourcing and restructuring for optimisation of the inventory due to
the COVID-19 lockdown.

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

Inventories of finished goods and work-in-progress reflect a net decrease by 23.70% from 2 904.80 million in Fiscal
2020 to 2690.35 million in Fiscal 2021 attributable to delays in garment sourcing and restructuring for
optimisation of inventory due to COVID-19 lockdowns.

Subcontracting charges

Subcontracting charges include sub-contracting and sample making charges that decreased by 57.15% from % 275.83
million in Fiscal 2020 to = 118.19 million in Fiscal 2021 due to reduced operations.

Employee benefits expense

320
