Vaibhav Global Ltd

Vaibhav Global Ltd

₹ 401 -0.16%
26 Apr - close price
About

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]

Key Points

Omni-Channel Retail Network
The company owns Shop LC for the USA, Shop TJC for the UK, and ShopLC for Germany which are 24-hour live shopping channels. It also owns proprietary web platforms tjc.co.uk, shoplc.com & shoplc.de/ and has also launched applications for its retail platforms on smartphones. [1] As of FY23, bout 63% of revenues comes from TV platforms & the rest 37% revenues come from web platforms. [2]

  • Market Cap 6,643 Cr.
  • Current Price 401
  • High / Low 543 / 295
  • Stock P/E 87.0
  • Book Value 36.4
  • Dividend Yield 1.50 %
  • ROCE 15.3 %
  • ROE 16.7 %
  • Face Value 2.00

Pros

  • Company has been maintaining a healthy dividend payout of 116%

Cons

  • Stock is trading at 11.0 times its book value
  • The company has delivered a poor sales growth of -1.47% over past five years.
  • Tax rate seems low
  • Earnings include an other income of Rs.61.8 Cr.
  • Debtor days have increased from 92.6 to 123 days.

* 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
117.84 113.04 129.52 121.30 128.45 109.82 108.26 90.43 112.98 124.74 126.25 116.38 128.91
115.87 106.52 120.23 111.85 126.21 110.65 101.08 88.81 113.75 118.32 118.36 112.97 125.88
Operating Profit 1.97 6.52 9.29 9.45 2.24 -0.83 7.18 1.62 -0.77 6.42 7.89 3.41 3.03
OPM % 1.67% 5.77% 7.17% 7.79% 1.74% -0.76% 6.63% 1.79% -0.68% 5.15% 6.25% 2.93% 2.35%
13.27 18.80 5.15 41.06 28.39 26.55 3.05 38.83 28.02 30.22 4.97 22.02 4.55
Interest 0.32 0.65 0.51 0.67 0.50 0.91 0.59 0.93 1.30 1.48 1.73 1.86 2.01
Depreciation 1.26 1.35 1.50 1.58 1.68 1.69 1.80 1.80 1.83 1.98 2.07 2.07 2.11
Profit before tax 13.66 23.32 12.43 48.26 28.45 23.12 7.84 37.72 24.12 33.18 9.06 21.50 3.46
Tax % 5.86% 9.82% 24.22% 7.44% -53.25% -34.78% 31.63% -0.95% -2.32% 4.25% 22.63% 4.14% 18.21%
12.85 21.04 9.43 44.66 43.60 31.16 5.36 38.09 24.68 31.77 7.00 20.61 2.82
EPS in Rs 0.79 1.29 0.58 2.73 2.66 1.90 0.33 2.31 1.50 1.93 0.42 1.25 0.17
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
177 249 348 404 361 482 470 480 431 416 489 436 496
161 226 315 365 330 443 431 441 400 403 469 422 476
Operating Profit 16 23 33 39 32 38 39 40 31 12 20 14 21
OPM % 9% 9% 10% 10% 9% 8% 8% 8% 7% 3% 4% 3% 4%
12 17 34 12 7 3 4 9 112 46 101 100 62
Interest 12 12 12 5 4 5 3 4 6 2 3 4 7
Depreciation 2 2 2 6 6 8 4 4 4 5 6 7 8
Profit before tax 14 26 53 40 28 28 36 41 133 51 112 103 67
Tax % 2% 0% 0% 25% 36% 21% 15% 19% 4% 8% -15% 3%
14 26 53 30 18 22 31 33 127 47 129 100 62
EPS in Rs 0.89 1.65 3.30 1.85 1.12 1.37 1.89 2.02 7.88 2.88 7.86 6.05 3.77
Dividend Payout % 0% 0% 0% 31% 0% 0% 0% 99% 86% 174% 76% 99%
Compounded Sales Growth
10 Years: 6%
5 Years: -1%
3 Years: 0%
TTM: 18%
Compounded Profit Growth
10 Years: 19%
5 Years: 27%
3 Years: -7%
TTM: -23%
Stock Price CAGR
10 Years: 11%
5 Years: 24%
3 Years: -22%
1 Year: 27%
Return on Equity
10 Years: 11%
5 Years: 16%
3 Years: 16%
Last Year: 17%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 32 32 32 32 32 33 33 33 32 33 33 33 33
Reserves 304 357 402 421 444 475 511 531 508 497 550 579 570
Preference Capital 44 44 0 0 0 0 0 0 0 0 0 0
145 131 101 60 93 72 67 66 64 56 95 109 111
70 80 41 43 64 51 35 95 46 55 75 79 107
Total Liabilities 551 600 576 556 633 631 645 725 650 641 752 799 821
13 16 18 24 42 42 41 41 51 55 63 64 63
CWIP 0 0 0 1 3 0 0 1 8 5 0 0 0
Investments 258 215 212 240 293 297 304 311 298 293 302 307 316
279 369 346 291 295 292 300 372 293 287 386 427 442
Total Assets 551 600 576 556 633 631 645 725 650 641 752 799 821

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
50 47 35 53 -46 33 32 183 -41 7 -21 16
-3 -7 47 30 -15 -2 -7 -10 44 82 57 65
-51 -31 -88 -55 30 -25 -10 -22 -167 -74 -52 -74
Net Cash Flow -5 9 -5 28 -31 6 16 151 -164 15 -16 7

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 251 142 92 67 123 112 95 43 39 52 103 123
Inventory Days 213 185 143 113 207 107 124 106 139 150 128 157
Days Payable 56 39 54 37 79 48 32 40 47 41 65 83
Cash Conversion Cycle 408 287 182 143 251 171 188 110 130 161 166 197
Working Capital Days 324 201 138 128 204 168 178 66 136 150 181 224
ROCE % 5% 5% 11% 9% 6% 6% 6% 7% 22% 9% 18% 15%

Shareholding Pattern

Numbers in percentages

1 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
58.16% 58.10% 58.08% 58.08% 57.96% 57.90% 57.91% 57.26% 57.21% 57.12% 57.24% 57.22%
11.54% 11.17% 10.69% 10.73% 10.71% 20.74% 21.13% 21.64% 21.89% 22.66% 22.05% 22.68%
18.51% 18.51% 18.62% 18.50% 18.38% 6.58% 6.38% 6.36% 6.24% 5.72% 5.37% 2.57%
11.72% 12.05% 12.52% 12.57% 12.76% 14.64% 14.44% 14.63% 14.59% 14.42% 15.28% 17.45%
0.07% 0.17% 0.09% 0.12% 0.19% 0.14% 0.15% 0.10% 0.06% 0.06% 0.04% 0.07%
No. of Shareholders 70,72783,54193,4341,03,9981,13,7741,36,9851,32,4911,30,6891,29,1361,19,8881,17,4421,20,854

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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