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Vaibhav Global Ltd — Earnings Release 2026
May 21, 2026
62491_rns_2026-05-21_2f981969-b335-417e-8581-33db6751e89b.pdf
Earnings Release
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VAIBHAV GLOBAL LIMITED
Ref: VGL/CS/2026/34
Date: 22nd May, 2026
National Stock Exchange of India Limited
Exchange Plaza, C-1, Block G,
Bandra Kurla Complex,
Bandra, Mumbai – 400 051
Symbol: VAIBHAVGBL
BSE Limited
Phiroze Jeejeebhoy Towers,
Dalal Street,
Mumbai – 400 001
Scrip Code: 532156
Subject: Press Release
Dear Sir / Madam,
Please find enclosed press release titled “Q4 FY26 Financial Results”
Kindly take the same on your record.
Yours Truly,
For Vaibhav Global Limited
YASHASVI PAREEK
Digitally signed by
YASHASVI PAREEK
Date: 2026.05.22
02:43:54 +05'30'
Yashasvi Pareek
Company Secretary & Compliance Officer
M. No.: A39220
Encl: as above
Registered Office: E-69, EPIP, Sitapura Industrial Area, Jaipur-302022, Rajasthan, India • Phone: +91-141-2770648; +91-141-2771975
CIN: L36911RJ1989PLC004945 • Email: [email protected] • Website: www.vaibhavglobal.com
PRESS RELEASE
VAIBHAV GLOBAL LIMITED
Q4 FY26 Financial Results
Digital Expansion, In-House Brands and Operational Discipline Drive VGL's Strong FY26 Growth
Recommended final dividend of Rs. 1.50/equity share (27% Payout)
Jaipur, May 21, 2026: Vaibhav Global Limited (VGL), a global E-tailer of Fashion Jewelry, Lifestyle Products, Apparels, and Accessories on proprietary Home Teleshopping Channels and Digital Platforms, announced its financial results for the fourth quarter & year ending March 31, 2026.
Financial Performance Highlights:
| (Rs. Crs) | Q4 FY26 | Q4 FY25 | Y-o-Y Growth | Q3 FY26 | Q-o-Q Growth | FY26 | FY25 | Y-o-Y Growth |
|---|---|---|---|---|---|---|---|---|
| REVENUE | 934.7 | 849.8 | 10.0% | 1,066.0 | (12.3%) | 3,691.8 | 3,379.6 | 9.2% |
| GROSS Margin | 63.9% | 62.1% | 178 bps | 63.0% | 92 bps | 63.5% | 63.1% | 42 bps |
| EBITDA | 95.9 | 70.6 | 36.0% | 140.8 | (31.8%) | 399.5 | 317.3 | 25.9% |
| PAT | 44.4 | 34.1 | 30.4% | 89.8 | (50.5%) | 219.4 | 153.1 | 43.4% |
| Net Cash | 295.7 | 169.8 | 74.1% | 212.7 | 39.0% | 295.7 | 169.8 | 74.1% |
| DIGITAL REVENUE MIX | 45% | 43% | 200bps | 44% | 100 bps | 44% | 41% | 300 bps |
| IN-HOUSE BRANDS | 53% | 31% | 2120 bps | 52% | 50 bps | 49% | 27% | 4880 bps |
Key Business Metrics:
- Unique Customers (TTM): 6.8 lakhs
- New Customer Acquisitions (TTM): 3.5 lakh.
- Customer Retention Rate sustained at 38%.
- Repeat Purchase: 23 pieces per customer (TTM).
ESG Initiatives:
- 'Your purchase feeds...': Over 112 million meals donated since inception.
- Committed to SBTi (Science Based Target Initiatives). Aligning our carbon reduction strategy with the 1.5°C pathway under the Paris Agreement.
- ESG Rating Upgrade: ICRA ESG Score improved to '74' (Strong)
Regd. Office: E-69, EPIP, Sitapura Industrial Area, Jaipur - 302022, Tele: 91-141-2771975; CIN : L36911RJ1989PLC004945;
Email: [email protected], Web: www.vaibhavglobal.com
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Commenting on the performance, Mr. Sunil Agrawal, Managing Director, Vaibhav Global Limited, said:
"We are pleased to report another strong quarter with revenue growing 10.0% YoY to ₹935 crore, while EBITDA increased 36.0% YoY, resulting in EBITDA margins returning to double digits after three years. The improvement reflects the strength of our business model, disciplined execution and continued focus on operational excellence. Gross margins improved to 63.9%, supported by a favorable product mix, higher contribution from in-house brands and continued efficiency initiatives across the organization.
During the quarter, our in-house brands contributed ~53% to the B2C revenue mix, enabling us to achieve our FY27 target of 50%+ in-house brand contribution well ahead of schedule. The increasing share of in-house brands is strengthening customer engagement and loyalty, while also improving our margin profile through better control over product assortment, pricing and evolving consumer preferences. This strategic transition not only enhances profitability but also strengthens our long-term competitive positioning and brand equity.
Our digital business continued to witness healthy momentum, with digital revenue mix increasing to 44% during the quarter. We continue to make focused investments in technology and AI-led capabilities to create a more personalized and customer-centric shopping experience across platforms. These initiatives are helping us enhance customer engagement, improve marketing efficiency, increase conversion metrics and optimize operating costs, thereby creating a scalable and future-ready business model.
Margin improvement during the quarter was also driven by technology adoption across functions, supply chain optimization and better inventory management. We believe these operational and technology-led initiatives will continue to support gradual and sustainable margin expansion going forward.
We are also encouraged by the improving performance of our Germany operations, which turned positive during the quarter. With improving scale, stronger customer response and enhanced operating efficiencies, we remain confident about the long-term potential of the market and expect continued improvement in overall business performance.
Backed by a strong balance sheet and healthy liquidity position, the Company continues to maintain a net cash position of ₹296 crore, providing significant financial flexibility and strong visibility to support future growth initiatives, technology investments and business expansion opportunities. Our strong cash generation and prudent capital allocation approach position us well to navigate evolving market conditions while continuing to drive profitable growth and long-term value creation for all stakeholders."
Regd. Office: E-69, EPIP, Sitapura Industrial Area, Jaipur - 302022, Tele: 91-141-2771975; CIN : L36911RJ1989PLC004945; Email: [email protected], Web: www.vaibhavglobal.com
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About Vaibhav Global Limited
Vaibhav Global Limited (VGL) is listed on stock exchanges in India (BSE: 532156, NSE: VAIBHAVGBL, ISIN - INE884A01027). VGL is an omni-channel E-tailer of fashion jewellery, accessories, and lifestyle products in developed markets with direct access to ~127 million households (FTE) through its TV home shopping networks – Shop LC in US, Shop TJC & Ideal World in UK and Shop LC in Germany. The Company's ecommerce websites www.shoplc.com & https://mindfulsouls.com/ in the US, www.tjc.co.uk, www.idealworld.tv/ and www.rachelgalley.com in the UK and www.shoplc.de in Germany, complement TV coverage and diversify customer engagement. The Company is committed to 'Delivering Joy' to all the stakeholders. Through its flagship midday meal program, 'your purchase feeds...' where a meal is provided for every piece sold at the retail channels, the Company has provided over 112 million meals in US, UK, Germany, and India at a run rate of ~56,000 meals being donated every school day since program's inception.
For further information, please contact:
Vivek Jain, Head- Investor Relations
Vaibhav Global Ltd.
Email: [email protected].
Muskaan Badlani, Corporate Communications
Email: [email protected]
Adfactorspr Pvt. Ltd.
Amit Sharma/Nishita Bhatt / Shrusti Jain
M: +91 9867726686; 8691998270
Email: [email protected]; [email protected];
Safe Harbor
Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local political or economic developments, technological risks, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements. Vaibhav Global Ltd. will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
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Regd. Office: E-69, EPIP, Sitapura Industrial Area, Jaipur – 302022, Tele: 91-141-2771975; CIN : L36911RJ1989PLC004945;
Email: [email protected], Web: www.vaibhavglobal.com