More Retail Limited

One of India’s largest and fastest growing

Omni Channel Food & Grocery retailer

This document is strictly confidential and is not to be circulated to any other persons.
 More Retail Limited: Building India’s most customer obsessed business with the world’s best
omni-channel food and grocery experience – and all of this on a massive scale. 2

Leading Player in a Largest supermarket Leader in omni- Transformational Best in class

large and growing player channel initiatives management with
industry e-grocery underway powerful
Fast growing value leadership
hypermarket chain Amazon special principles
partnership
Leader in Fresh

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More Retail Limited: Building India’s most customer obsessed business with the world’s best
omni-channel food and grocery experience – and all of this on a massive scale. 3
Leading Player in a large and growing industry

• USD 560 billion (~67% of retail) • Resilient demand in F&G spends split
Food & Grocery Consumer
between top-up, pantry loading and e-
Market Size Demand
• Expected to be USD 1.2 trillion by 2030 grocery missions

Modern Trade • Expected to grow from USD 22 bn to USD Growth • High barrier to entry and very few large
Penetration 186 bn in 2030 Path players

Largest supermarket player | Fast growing value hypermarket chain | Leader in Fresh

• MRL is the leading supermarket chain operating 625+ stores with industry leading productivity
Supermarkets
• Market leader in the key geographies that it operates with best in class unit economics

Hypermarkets • Hypermarket pinned on value and e-grocery. Primed for rapid expansion and to be
amongst the top 3 players

• “Fresh” as core proposition leading to sticky, high-frequency customer base

Fresh

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More Retail Limited: Building India’s most customer obsessed business with the world’s best
omni-channel food and grocery experience – and all of this on a massive scale. 4
Leader in e-grocery | Amazon partnership

▪ MRL has entered into strategic partnership with Amazon for a strong Omni-channel strategy
Strong Omni
Model ▪ Present in all three formats – SM for top-ups, HM for pantry loading and e-grocery through
unique AMAZON partnership, catering to complete wallet spend of a customer.

Transformational initiatives underway

▪ Strong Unit Model poised to become best in class post implementation of Strategic Initiatives
Lowest Cost
Per Unit Model
▪ Various Projects to transform unit model and customer value proposition

Best in class management with powerful leadership principles

▪ Samara Capital Group’s other consumer/retail investments give an edge to attract and retain the
best talent in the country at all levels
Strong
Leadership
▪ Opportunity to be part of an exciting and rapidly growing Omni-channel retail company

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 More Retail Limited – Mission and Strategic Outlook
5

Mission
To be Indian consumer’s most preferred choice for food, grocery and
lifestyle needs in their neighborhood served in an Omni – channel way.

Differentiated Format Strategy – Strengthen CVP; Drive Growth

Supermarkets: Hypermarkets:

Further strengthen fresh proposition; customize assortment to catchment Unmatched value + relevant assortment | serving offline & online consumers

Rapid rollout + high market share – entry barrier; build scale Rapid roll out of MHM model – strong NSO pipeline

Powered in omni channel formats

Supply Chain & Finance Human Capital B&M Private Label Technology Transformation

• Unlock value by up- • Leadership principles & • Efficient assortment, high • Strategic long-term lever • Consumer engagement
streaming inventory and values embedded culture velocity to deliver higher margin • Omni-channel
cost; lowering inventory, • Empowered leadership • Margin construct: move • Leverage Amazon environment
improving assortment and teams from visibility to promo relationship • Technology led
• World class commercial • Cost leadership • Co-partnering with Organisation
processes and control • Hiring right vendors

Enablers

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Powerful Leadership Principles and Values
6

The Leadership Principles and Values are designed to attract, retain, develop
and grow the best talent

MRL has the capability to attract the best talent required for its growth ambitions

Samara AIF can also leverage its experience with its other portfolio companies

More’s growth and expansion plans will make it one of the most respected retail
operator and an aspirational employer for talent

Samara AIF would focus on hiring right, setting up a culture of excellence and
outperformance at MRL

This is most critical to ensure the success of a life-changing

transformational opportunity

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 Powerful Leadership Principles and Values
7
More leaders understand customer’s evolving needs and aspirations, obsess 24X7 on improving customer’s experience,
Customer Obsession and vigorously advocate their needs within the organization

More leaders display curiosity, encourage experimentation and exemplify innovative thinking in creating better and
Innovation
disruptive customer solutions that are sustainable and environmentally safe.

More leaders simplify things, are effective and hence achieve lowest cost per unit in most activities, and repeatedly
Frugality
deliver more with less

More leaders identify, attract, nurture, promote and retain the very best of talent and empower their teams | they
Growing Talent gauge their own success basis the talent they have groomed and built. More leaders create a culture of meritocracy and
accelerated leadership development

More leaders think audaciously and possess unusual resilience. They learn and improve from setbacks and failures
Grit and keep going while rallying everyone in the team until the goal is accomplished. They combine sharp analysis and
sound judgement and value speed in decision making with calculated risks

More leaders display a firm-first approach and firmly believe that great teams outdo group of great individuals any
Collaboration
day. They drive cross-functional collaboration encouraging constant introspection and conflict resolution

More leaders pursue highest standards of objectivity, honesty and transparency. They create a trusting environment
Integrity where everyone speaks up their mind resulting in everyone committing to the best idea. They always do the right thing
even when no one is looking

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More Retail Limited - Flywheel
8

Strong Cost Base Lowest Cost gives

• Source & Buy better in Fresh & Staples license to invest
• Operate smarter, efficient supply chain Invest in distinctive value proposition
• Low wastage including dump & shrink • SM: Strengthen model further
• Lowest cost to serve • HM: Differentiated Hybrid Hypermart
• Fresh – market leadership
• Omni-channel partnership with Amazon

MRL value
Right Execution
Further creation on Investments
strengthening Flywheel results in

Accelerated Growth
• Omni-channel experience
• Rapid expansion of network
• LP&V: Growing Talent
• COC: Focus on profitable growth

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More Retail Limited - Building India’s Leading Omni-Channel Food & Grocery Retailer
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FY 2020 Global E-Commerce Partner FY 2028

Supermarkets - 2,500
Supermarkets - 623

Hypermarkets - 250
Hypermarkets - 22

Omni-Channel Experience

10x revenue growth in 6-8 years

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 More Retail Limited
Facts and Figures 10

~5,100 Cr 100+ 4000+ 40

15,000+
million million+

Active monthly
Gross Retail Sale Bill cuts per year Active Vendors Employees Customer base

30+ 25 Lakhs 3.4 mn

SFT No.1

Supply chain assets Store Area across SLCs handled Best e-com Service
provide best on shelf 645 stores metrics on Amazon
availability

SLC: SKU-location combinations Confidential

 Supermarkets
Strongly positioned format 11
Best in industry today with highest SPSF and best in class operational metrics

01 02 03 04
Differentiated Shopper
Neighborhood Store Destination for “FRESH” Best Unit Model
Experience

Convenient locations in a residential Best modern trade store in produce, SPSF highest among peer set in Store operational excellence superior to
neighborhood lead over peer set small format peer set

Assortment upwards of 4,500 SKUs Offering best freshness and Operating with lean store expenses Supermarket network that operates with
catering to a large part of monthly competitive pricing despite heavy escalations in planograms
basket Minimum wage, and other
escalations

Regular customers come from close Highly profitable category in all Store contribution best in class Manning efficiency and capability in front
to the store major markets of operation end built over years

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 Hypermarkets - Best in Class Hybrid Hypermarket CVP
MRL pivoted existing Hypermarkets to a value model catering to all the segment 12

Hypermarkets with its Sharp and Relevant CVP

Sanjana - B/C segment Shyamla - D Segment

Everyday low Quality that can be Relevant Products for

prices trusted the customer

Unbeatable weekly Removing the myth Tight & localized

deals that cheap = bad assortment : Grocery,
Home maker / working Health & Beauty,
quality Home maker / working from home
Home, Clothes,
Flexible on budget Essential Fresh Constrained by budget
Wants more for her family
Wants more from her budget
Value & Quality conscious
Value comes first. Quality is desirous
Experiments with the new
Explores if her budget allows
Outstanding Value Good Quality Relevant Products
Seeks variety
Driven by a list
Upgrades to premium
MHM has tight guardrails to deliver the Value Upgrades pack size if budget allows
Promise

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eGrocery
Amazon Fresh powered by More
13
Who is the customer
Top 8 metros, small / medium family size, household
income >5L p.a., value convenience over price, care 01
Amazon Fresh for freshness & large selection, experienced online
shopper, Prime member

Proposition
Serve the ‘neighborhood hypermarket’ shopping
02 mission of customers by providing a full basket
experience across produce & perishables and dry
grocery with rush or 2 hour scheduled deliveries

Selection count
10k (8k grocery & 2k General merchandise) 03

Focus selection

04 High quality produce & perishables in addition to

grocery food & non-food

Delivery
12 mins (Rush) & Scheduled delivery 05
70% deliveries within 4 hours

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 MRL’s leadership capability in F&G retail amongst the best in India
Highly Experienced and Best in Class Operational Management 14

Girdhar Gopal Naik

Chitlangia Head - Legal and
Gurpreet Sandhu CFO Compliance
COO - MHM

Mohit
Kampani B&M Gopalakrishnan
Dy.MD & Heads V Puneet Dhamija
CEO - MHM Head - Quality, Head - SCM &
Technical & MPR
Sustainability
Vinod E-Commerce
Sumeet Nambiar Head
Narang
Chairman Managing Supratim
Ganesh
Director Banerjee
Subramanian
Chief
Chief Human
Transformation
Resources Officer
Officer
Sashi Gumma Lakshman Kandarpa
CEO – SM and COO - SM
Fresh

Lavdeep Walia Nirav Parikh

Head Marketing Head-IT

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 Highly Experienced and accomplished board
15

SUMEET NARANG VINOD NAMBIAR PAURUSH ROY GIRISH BHAT VIKRAM AGARWAL
FOUNDER & MD – SAMARA MANAGING DIRECTOR – More MD – SAMARA Capital MD / OPERATING PARTNER- MD & CFO - SAMARA Capital
Capital Retail Ltd SAMARA Capital
IIM, Lucknow – MBA Chartered Accountant
Harvard Business School – MBA, IIM, Calcutta – MBA Chartered Accountant, Chartered
IIT, Roorkee – B.E. Shri Ram College of Commerce,
Baker Scholar and John Loeb Global Management Accountant
BITS Pilani – Chemical PRIOR EXPERIENCE Delhi – B. Com (H)
Fellow Engineering Mumbai University – B.Com (H)
Deutsche Bank Global Markets PRIOR EXPERIENCE
IIM, Lucknow – MBA, AV Birla PRIOR EXPERIENCE PRIOR EXPERIENCE
Citigroup Corporate & Investment PricewaterhouseCoopers
Scholar Cadbury (India, Europe)
Colgate Palmolive Company Bank HSBC
IIT, Roorkee – B.E. Gammon India
Hindustan Unilever
PRIOR EXPERIENCE
Goldman Sachs, Principal
Investments
Citigroup India

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MRL leadership team
Highly Experienced and Best in Class Management Team 16

MOHIT KAMPANI SASHI GUMMA

Dy.MD & CEO – MHM CEO – SM & FRESH
Xavier Institute of Management – MBA IIM, Ahmedabad – MBA
Goenka College of Commerce & Business IIT, Kharagpur – B.Tech
Administration- B.Com PRIOR EXPERIENCE
PRIOR EXPERIENCE Trinethra Super Retail, EID Parry
Spencer Retail, Colgate Palmolive, ICI Paints

Girdhar Chitlangia
GANESH SUBRAMANIAN
CFO Chief Human Resource Officer
Chartered Accountant XLRI, Jamshedpur – MBA
B.Sc in Chemistry Bangalore University – B.E (Mech)
PRIOR EXPERIENCE PRIOR EXPERIENCE
Meridian Mobile (P) Ltd, Super Max Group,
Continental Beverages Grp, Birla AT&T, Grasim Ola (ANI Technologies), Unilever

PUNEET DHAMIJA SUPRATIM BANERJEE

HEAD – SCM & MPR Chief Transformational Officer
IIM, Bangalore – MBA Indian School of Business – MBA
IIT, Kanpur – B.Tech PRIOR EXPERIENCE
PRIOR EXPERIENCE India Equity Partners,
Hilti India Pvt. Ltd, Avon Beauty Products India AT Kearney
Pvt. Ltd, Bharti Retail, Dell India, Whirlpool India
KPMG

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More Retail Limited
One of India’s Largest and fastest growing
Omni Channel Food & Grocery retailer

This document is strictly confidential and is not to be circulated to any other persons.