Vaibhav Global Ltd
Vaibhav Global Limited (VGL), through its distinctive business model, has created a niche for itself in the global retail space, especially in the jewellery, accessories and lifestyle product segments of two of the largest economies of the world - the US and UK. [1]
- Market Cap ₹ 4,439 Cr.
- Current Price ₹ 266
- High / Low ₹ 339 / 178
- Stock P/E 30.5
- Book Value ₹ 44.0
- Dividend Yield 2.26 %
- ROCE 21.0 %
- ROE 22.1 %
- Face Value ₹ 2.00
Pros
- Company has been maintaining a healthy dividend payout of 103%
Cons
- The company has delivered a poor sales growth of 9.36% over past five years.
- Tax rate seems low
- Earnings include an other income of Rs.189 Cr.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 348 | 404 | 361 | 482 | 470 | 480 | 431 | 416 | 489 | 436 | 489 | 674 | 642 | |
| 315 | 365 | 330 | 443 | 431 | 441 | 400 | 403 | 469 | 422 | 473 | 635 | 613 | |
| Operating Profit | 33 | 39 | 32 | 38 | 39 | 40 | 31 | 12 | 20 | 14 | 16 | 39 | 30 |
| OPM % | 10% | 10% | 9% | 8% | 8% | 8% | 7% | 3% | 4% | 3% | 3% | 6% | 5% |
| 34 | 12 | 7 | 3 | 4 | 9 | 112 | 46 | 101 | 100 | 53 | 169 | 189 | |
| Interest | 12 | 5 | 4 | 5 | 3 | 4 | 6 | 2 | 3 | 4 | 7 | 9 | 10 |
| Depreciation | 2 | 6 | 6 | 8 | 4 | 4 | 4 | 5 | 6 | 7 | 8 | 7 | 7 |
| Profit before tax | 53 | 40 | 28 | 28 | 36 | 41 | 133 | 51 | 112 | 103 | 54 | 193 | 202 |
| Tax % | 0% | 25% | 36% | 21% | 15% | 19% | 4% | 8% | -15% | 3% | 7% | 4% | |
| 53 | 30 | 18 | 22 | 31 | 33 | 127 | 47 | 129 | 100 | 50 | 184 | 195 | |
| EPS in Rs | 3.30 | 1.85 | 1.12 | 1.37 | 1.89 | 2.02 | 7.88 | 2.88 | 7.86 | 6.05 | 3.03 | 11.07 | 11.72 |
| Dividend Payout % | 0% | 31% | 0% | 0% | 0% | 99% | 86% | 174% | 76% | 99% | 198% | 14% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 5% |
| 5 Years: | 9% |
| 3 Years: | 11% |
| TTM: | 15% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 17% |
| 5 Years: | 2% |
| 3 Years: | 3% |
| TTM: | 29% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 11% |
| 5 Years: | -8% |
| 3 Years: | -8% |
| 1 Year: | -8% |
| Return on Equity | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | 17% |
| 3 Years: | 17% |
| Last Year: | 22% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 32 | 32 | 32 | 33 | 33 | 33 | 32 | 33 | 33 | 33 | 33 | 33 | 33 |
| Reserves | 402 | 421 | 444 | 475 | 511 | 531 | 508 | 497 | 550 | 579 | 554 | 658 | 700 |
| 101 | 60 | 93 | 72 | 67 | 66 | 64 | 56 | 95 | 109 | 98 | 115 | 122 | |
| 41 | 43 | 64 | 51 | 35 | 95 | 46 | 55 | 75 | 79 | 85 | 116 | 131 | |
| Total Liabilities | 576 | 556 | 633 | 631 | 645 | 725 | 650 | 641 | 752 | 799 | 769 | 922 | 987 |
| 18 | 24 | 42 | 42 | 41 | 41 | 51 | 55 | 63 | 64 | 62 | 63 | 62 | |
| CWIP | 0 | 1 | 3 | 0 | 0 | 1 | 8 | 5 | 0 | 0 | 0 | 0 | 0 |
| Investments | 212 | 240 | 293 | 297 | 304 | 311 | 298 | 293 | 302 | 307 | 303 | 334 | 332 |
| 346 | 291 | 295 | 292 | 300 | 372 | 293 | 287 | 386 | 427 | 404 | 526 | 593 | |
| Total Assets | 576 | 556 | 633 | 631 | 645 | 725 | 650 | 641 | 752 | 799 | 769 | 922 | 987 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 35 | 53 | -46 | 33 | 32 | 183 | -41 | 7 | -21 | 16 | 70 | 6 | |
| 47 | 30 | -15 | -2 | -7 | -10 | 44 | 82 | 57 | 65 | 40 | 97 | |
| -88 | -55 | 30 | -25 | -10 | -22 | -167 | -74 | -52 | -74 | -112 | -86 | |
| Net Cash Flow | -5 | 28 | -31 | 6 | 16 | 151 | -164 | 15 | -16 | 7 | -2 | 17 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 92 | 67 | 123 | 112 | 95 | 43 | 39 | 52 | 103 | 123 | 78 | 115 |
| Inventory Days | 143 | 113 | 207 | 107 | 124 | 106 | 139 | 150 | 128 | 157 | 171 | 111 |
| Days Payable | 54 | 37 | 79 | 48 | 32 | 40 | 47 | 41 | 65 | 83 | 78 | 70 |
| Cash Conversion Cycle | 182 | 143 | 251 | 171 | 188 | 110 | 130 | 161 | 166 | 197 | 170 | 155 |
| Working Capital Days | 81 | 74 | 110 | 114 | 126 | 15 | 81 | 100 | 111 | 134 | 108 | 112 |
| ROCE % | 11% | 9% | 6% | 6% | 6% | 7% | 22% | 9% | 18% | 15% | 12% | 21% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
4 Nov - Q2 FY26 results: revenue INR877cr, PAT INR48cr, EBITDA 10%, interim dividend INR1.5/share.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
31 Oct - Newspaper Publication - financial results of Q2 & H1 FY 2026
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
30 Oct - Posted audio recording of Q2 & H1 FY26 earnings call for quarter ended 30 Sep 2025.
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Announcement under Regulation 30 (LODR)-Investor Presentation
30 Oct - Investor Presentation for Q2 & H1 FY 2026
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
30 Oct - Q2 FY26: Revenue ₹877 crore (+10.2%), PAT ₹48 crore (+71%), interim dividend Rs.1.50/share (53% payout).
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Concalls
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Nov 2025Transcript PPT
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Aug 2025Transcript PPT REC
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Feb 2025Transcript PPT REC
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Jan 2025TranscriptNotesPPT
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Nov 2024Transcript PPT
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Aug 2024TranscriptPPTREC
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Aug 2024TranscriptNotesPPT REC
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Nov 2022Transcript PPT
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Aug 2022TranscriptNotesPPT
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Nov 2021Transcript PPT
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Aug 2021Transcript PPT
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May 2021TranscriptPPT
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May 2021TranscriptPPT
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Feb 2021Transcript PPT
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Sep 2020TranscriptNotesPPT
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Aug 2020Transcript PPT
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Nov 2019Transcript PPT
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Oct 2018Transcript PPT
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Jul 2018Transcript PPT
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May 2018TranscriptNotesPPT
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Jan 2018TranscriptNotesPPT
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Oct 2017TranscriptNotesPPT
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May 2017TranscriptPPT
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Feb 2017TranscriptPPT
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Oct 2016TranscriptPPT
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Aug 2016TranscriptPPT
Omni-Channel Retail Network
The company is an omnichannel E-tailer of fashion jewelry, accessories, and lifestyle products in developed markets with direct access to over 130 Mn households through its TV home shopping networks - Shop LC in the US, Shop TJC & Ideal World in the UK and Shop LC in Germany. It also operates e-commerce websites - www.shoplc.com & https://mindfulsouls.com/ in the US, www.tjc.co.uk & www.idealworld.tv/ in the UK, and www.shoplc.de in Germany, complementing its TV coverage. [1] [2]