Vaibhav Global Ltd

Vaibhav Global Ltd

₹ 376 -1.24%
19 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 6,221 Cr.
  • Current Price 376
  • High / Low 543 / 295
  • Stock P/E 47.2
  • Book Value 73.9
  • Dividend Yield 1.60 %
  • ROCE 11.1 %
  • ROE 9.02 %
  • Face Value 2.00

Pros

  • Company has been maintaining a healthy dividend payout of 55.2%

Cons

  • The company has delivered a poor sales growth of 11.4% over past five years.

* 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

Consolidated Figures in Rs. Crores / View Standalone

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
725 666 682 635 750 685 628 646 724 693 658 705 888
602 588 591 568 665 647 586 596 662 646 600 642 795
Operating Profit 123 78 91 67 85 38 42 50 61 46 58 63 93
OPM % 17% 12% 13% 11% 11% 6% 7% 8% 8% 7% 9% 9% 11%
4 7 39 6 -1 5 2 2 14 9 7 3 2
Interest 1 2 1 2 2 2 2 2 2 3 3 3 3
Depreciation 9 11 11 13 14 17 17 18 20 22 22 23 23
Profit before tax 116 72 119 58 68 25 25 31 55 30 40 41 68
Tax % 20% 22% 17% 28% -2% -8% 22% 26% 28% 23% 27% 30% 31%
92 56 99 42 69 27 20 23 39 23 30 29 47
EPS in Rs 5.68 3.44 6.05 2.58 4.24 1.66 1.19 1.39 2.36 1.42 1.80 1.78 2.87
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
645 893 1,298 1,376 1,277 1,439 1,571 1,814 1,986 2,540 2,752 2,691 2,944
610 829 1,155 1,242 1,218 1,353 1,422 1,611 1,725 2,170 2,471 2,491 2,683
Operating Profit 35 64 143 134 58 86 148 203 262 370 281 200 261
OPM % 5% 7% 11% 10% 5% 6% 9% 11% 13% 15% 10% 7% 9%
57 -126 34 13 17 16 10 14 14 18 50 28 22
Interest 14 14 14 7 7 6 4 5 9 5 6 8 12
Depreciation 9 7 7 12 24 29 25 25 31 39 55 78 91
Profit before tax 69 -84 155 128 45 66 129 188 236 344 271 141 181
Tax % 0% -2% 2% 19% 11% 2% 13% 18% 20% 21% 12% 26%
69 -86 153 103 40 65 112 154 190 272 237 105 129
EPS in Rs 4.32 -5.34 9.48 6.37 2.45 3.97 6.90 9.43 11.77 16.70 14.50 6.36 7.87
Dividend Payout % 0% 0% 2% 9% 0% 0% 0% 21% 57% 30% 41% 94%
Compounded Sales Growth
10 Years: 12%
5 Years: 11%
3 Years: 11%
TTM: 10%
Compounded Profit Growth
10 Years: 3%
5 Years: -1%
3 Years: -18%
TTM: 19%
Stock Price CAGR
10 Years: 9%
5 Years: 23%
3 Years: -22%
1 Year: 21%
Return on Equity
10 Years: 23%
5 Years: 21%
3 Years: 19%
Last Year: 9%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 190 83 201 296 335 402 518 664 719 931 1,094 1,168 1,190
Preference Capital 44 44 0 0 0 0 0 0 0 0 0 0
178 161 124 76 112 85 67 66 102 124 165 193 185
116 125 121 126 140 157 146 179 238 307 394 392 414
Total Liabilities 514 401 478 530 619 676 763 942 1,091 1,395 1,686 1,786 1,822
203 58 66 76 126 126 120 116 154 163 467 507 598
CWIP 0 0 0 1 3 0 0 1 9 29 27 5 4
Investments 13 0 3 3 4 5 12 18 82 280 84 34 36
299 343 409 450 487 545 632 807 847 923 1,108 1,241 1,184
Total Assets 514 401 478 530 619 676 763 942 1,091 1,395 1,686 1,786 1,822

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
47 79 178 115 -25 74 41 204 214 326 88 127
-3 -22 -68 -3 -42 -26 -23 -22 -184 -267 -45 43
-48 -30 -108 -64 30 -30 -24 -23 -184 -57 -72 -103
Net Cash Flow -4 27 2 49 -37 19 -6 159 -155 1 -29 68

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 21 15 19 13 19 24 30 24 25 24 31 33
Inventory Days 275 252 166 187 277 221 227 239 220 180 231 238
Days Payable 74 54 59 61 99 83 66 74 75 65 104 95
Cash Conversion Cycle 222 213 126 139 197 162 191 189 170 139 158 176
Working Capital Days 108 77 45 52 75 70 88 75 73 57 74 77
ROCE % 22% 25% 50% 35% 11% 15% 23% 27% 30% 36% 21% 11%

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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