Vaibhav Global Limited Reports Strong Q4 FY26 Results Driven by Digital Growth and In-House Brands
Vaibhav Global Limited (VGL), a global E-tailer of Fashion Jewelry, Lifestyle Products, Apparels, and Accessories, has announced its financial results for the fourth quarter and the year ending March 31, 2026. The company highlighted that digital expansion, the growing contribution of in-house brands, and operational discipline underpinned its strong fiscal year performance.VGL also recommended a final dividend of Rs. 1.50 per equity share, representing a 27% payout.
Financial Performance Overview
The company's financial performance for the quarter and the fiscal year reflects significant year-over-year growth across key metrics.The following table details the financial performance, measured in Rupees Crores:
| Metric | 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% | 200 bps | 44% | 100 bps | 44% | 41% | 300 bps |
| IN-HOUSE BRANDS | 53% | 31% | 2120 bps | 52% | 50 bps | 49% | 27% | 4880 bps |
Operational Highlights and Sustainability
Beyond the financial metrics, the company reported key business operational metrics and strong commitment to environmental, social, and governance (ESG) goals.The key business metrics reported for the Trailing Twelve Months (TTM) include:
- Unique Customers: 6.8 lakhs
- New Customer Acquisitions: 3.5 lakhs
- Customer Retention Rate: Sustained at 38%
- Repeat Purchase: 23 pieces per customer (TTM)
On the ESG front, VGL has donated over 112 million meals through its 'Your purchase feeds…' initiative. The company is also committed to SBTi (Science Based Target Initiatives), aligning its carbon reduction strategy with the 1.5°C pathway under the Paris Agreement, and recently received an ICRA ESG Score improvement to '74' (Strong).
Management Commentary
Commenting on the quarter's performance, Mr. Sunil Agrawal, Managing Director, Vaibhav Global Limited, noted that the company reported revenue growth of 10.0% Year-over-Year (YoY) to ₹935 crore, while EBITDA increased 36.0% YoY. This increase resulted in EBITDA margins returning to double digits after three years, a testament to the strength of the business model and focus on operational excellence.Gross margins improved to 63.9%, supported by a favorable product mix and higher contribution from in-house brands. During the quarter, in-house brands contributed 53% to the B2C revenue mix, helping the company achieve its FY27 target of 50%+ in-house brand contribution ahead of schedule. This increasing share is strengthening customer loyalty and improving the margin profile through better control over assortment and pricing.
The digital business maintained healthy momentum, with the digital revenue mix increasing to 44% during the quarter. The company continues its focused investment in technology and AI-led capabilities to enhance the customer experience and optimize operating costs.
Operationally, Mr. Agrawal highlighted the improving performance of the Germany operations, which turned positive during the quarter. Furthermore, the company maintains a net cash position of ₹296 crore, providing significant financial flexibility and strong visibility to support future growth initiatives and business expansion.
VAIBHAVGBL Stock Price Movement
On Thursday, shares of Vaibhav Global Limited edged higher, gaining 1.24% to close at ₹228.08, up ₹2.79. The equity saw robust trading activity during the session, with a total volume of 246,720 shares traded.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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