Vaibhav Global
Vaibhav Global
Consumer DiscretionaryKey Fundamentals
MicrocapJewellery & WatchesConsumer GoodsTapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
1- Company has been maintaining a healthy dividend payout of 60.1%
Weaknesses
4- The company has delivered a poor sales growth of 7.77% over past five years.
- Tax rate seems low
- Company has a low return on equity of 13.7% over last 3 years.
- Company might be capitalizing the interest cost
Growth Rate
AI Analysis — Bull vs Bear
Vaibhav Global Ltd trades at a market cap of ₹4,526 Cr with a PE of 16.6x and dividend yield of 2.28%. The company has shown a strong TTM profit growth of 76% but carries a weak 5-year sales CAGR of ~8% and a 5-year stock CAGR of -20%, reflecting a period of underperformance relative to broader markets.
- TTM profit growth of 76% signals a sharp earnings recovery, suggesting operating leverage is kicking in
- PE of 16.6x is modest for a consumer discretionary company, offering reasonable valuation relative to earnings
- Healthy dividend payout ratio of 60.1% with a current yield of 2.28%, indicating shareholder-friendly capital allocation
- 10-year compounded profit growth of 21% demonstrates long-term earnings compounding ability
- 10-year sales CAGR of 11% shows consistent top-line expansion over a long horizon
- ROE of 18% in the last year shows improvement from the 3-year average of 14%, indicating rising capital efficiency
- 1-year stock CAGR of 16% suggests renewed investor interest after a prolonged correction
- 10-year stock CAGR of 15% indicates long-term wealth creation despite recent drawdowns
- 5-year stock CAGR of -20% reflects significant value destruction for medium-term investors
- 5-year compounded profit growth of 0% shows earnings stagnation over a meaningful period
- Poor 5-year sales growth of ~8% (7.77% per screener data) indicates sluggish top-line momentum
- 3-year ROE average of only 13.7-14% is below par for a consumer discretionary business trading at 2.68x book value
- Price-to-book of 2.68x may not be justified given the low 3-year ROE of 14%
- Potential capitalization of interest costs could overstate reported profits and asset values
- Tax rate appears low, which if normalized could compress net margins going forward
- 3-year stock CAGR of -9% indicates the market has not rewarded the company despite 11% sales CAGR in the same period
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Strong FY26 PAT up 73.8% Jul 13
Vaibhav Global reported FY26 consolidated PAT of ₹266 crore (+73.8% YoY) and revenue of ₹3,692 crore (+9.2% YoY), with EBITDA at ₹399 crore.
- Q1FY27 earnings call Aug 5 Jul 20
Management will discuss Q1FY27 quarterly performance with investors and analysts on August 5, 2026, at 2:30 PM IST.
- BRSR filed for FY26 Jul 13
Filed Business Responsibility & Sustainability Report for FY26 disclosing ESG initiatives, zero corruption violations, and improved sustainability ratings.
TL;DR: Vaibhav Global delivered a strong FY26 with 73.8% PAT growth and 9.2% revenue expansion, signaling robust operational leverage. No material headwinds emerged in recent news flow. ESG disclosures and upcoming Q1FY27 earnings call on Aug 5 will be the next catalysts to watch for continuation of the improving profitability trend.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 658 | 705 | 888 | 789 | 756 | 796 | 977 | 850 | 814 | 877 | 1,066 | 935 | 917 |
| Expenses | 600 | 642 | 795 | 736 | 699 | 736 | 868 | 788 | 752 | 800 | 930 | 851 | 820 |
| Operating Profit | 58 | 63 | 93 | 53 | 57 | 60 | 110 | 62 | 62 | 78 | 136 | 83 | 97 |
| OPM % | 9% | 9% | 11% | 7% | 8% | 8% | 11% | 7% | 8% | 9% | 13% | 9% | 11% |
| Other Income | 7 | 3 | 2 | 6 | 9 | 9 | 2 | 8 | 13 | 11 | 5 | 13 | 5 |
| Interest | 3 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 3 | 4 | 4 | 5 |
| Depreciation | 22 | 23 | 23 | 25 | 25 | 26 | 26 | 25 | 25 | 24 | 25 | 28 | 27 |
| PBT | 40 | 41 | 68 | 32 | 37 | 39 | 82 | 41 | 46 | 60 | 112 | 64 | 71 |
| Tax % | 27% | 30% | 31% | 33% | 27% | 29% | 22% | 17% | 18% | 21% | 20% | -43% | 20% |
| Net Profit | 30 | 29 | 47 | 21 | 27 | 28 | 64 | 34 | 38 | 48 | 90 | 91 | 56 |
| EPS in Rs | 1.8 | 1.78 | 2.87 | 1.29 | 1.67 | 1.67 | 3.84 | 2.05 | 2.26 | 2.85 | 5.38 | 5.46 | 3.37 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,376 | 1,277 | 1,439 | 1,571 | 1,814 | 1,986 | 2,540 | 2,752 | 2,691 | 3,041 | 3,380 | 3,692 | 3,795 |
| Expenses | 1,242 | 1,218 | 1,353 | 1,422 | 1,611 | 1,725 | 2,170 | 2,471 | 2,491 | 2,772 | 3,090 | 3,331 | 3,402 |
| Operating Profit | 134 | 58 | 86 | 148 | 203 | 262 | 370 | 281 | 200 | 269 | 290 | 361 | 393 |
| OPM % | 10% | 4.6% | 6% | 9% | 11% | 13% | 15% | 10% | 7% | 9% | 9% | 10% | 10% |
| Other Income | 13 | 17 | 16 | 10 | 14 | 14 | 18 | 50 | 28 | 19 | 27 | 39 | 34 |
| Interest | 7 | 7 | 6 | 4 | 5 | 9 | 5 | 6 | 8 | 12 | 15 | 15 | 16 |
| Depreciation | 12 | 24 | 29 | 25 | 25 | 31 | 39 | 55 | 78 | 93 | 102 | 103 | 104 |
| PBT | 128 | 45 | 66 | 129 | 188 | 236 | 344 | 271 | 141 | 182 | 200 | 282 | 307 |
| Tax % | 19% | 11% | 2% | 13% | 18% | 20% | 21% | 12% | 26% | 30% | 24% | 6% | — |
| Net Profit | 103 | 40 | 65 | 112 | 154 | 190 | 272 | 237 | 105 | 127 | 153 | 266 | 285 |
| EPS in Rs | 6.37 | 2.45 | 3.97 | 6.9 | 9.43 | 11.77 | 16.7 | 14.5 | 6.36 | 7.72 | 9.22 | 15.93 | 17.06 |
| Div. Payout % | 9% | 0% | 0% | 0% | 21% | 57% | 30% | 41% | 94% | 78% | 65% | 38% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 32 | 32 | 33 | 33 | 33 | 32 | 33 | 33 | 33 | 33 | 33 | 33 |
| Reserves | 296 | 335 | 402 | 518 | 664 | 719 | 931 | 1,094 | 1,168 | 1,225 | 1,317 | 1,615 |
| Borrowings | 76 | 112 | 85 | 67 | 66 | 102 | 124 | 165 | 193 | 218 | 228 | 416 |
| Other Liabilities | 126 | 140 | 157 | 146 | 179 | 238 | 307 | 394 | 392 | 405 | 456 | 481 |
| Total Liabilities | 530 | 619 | 676 | 763 | 942 | 1,091 | 1,395 | 1,686 | 1,786 | 1,881 | 2,034 | 2,544 |
| Fixed Assets | 76 | 126 | 126 | 120 | 116 | 154 | 163 | 467 | 507 | 616 | 566 | 699 |
| CWIP | 1 | 3 | 0 | 0 | 1 | 9 | 29 | 27 | 5 | 6 | 11 | 26 |
| Investments | 3 | 4 | 5 | 12 | 18 | 82 | 280 | 84 | 34 | 128 | 116 | 19 |
| Other Assets | 450 | 487 | 545 | 632 | 807 | 847 | 923 | 1,108 | 1,241 | 1,131 | 1,342 | 1,801 |
| Total Assets | 530 | 619 | 676 | 763 | 942 | 1,091 | 1,395 | 1,686 | 1,786 | 1,881 | 2,034 | 2,544 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 115 | -25 | 74 | 41 | 204 | 214 | 326 | 88 | 127 | 277 | 165 | 310 |
| Investing | -3 | -42 | -26 | -23 | -22 | -184 | -267 | -45 | 43 | -183 | -5 | 81 |
| Financing | -64 | 30 | -30 | -24 | -23 | -184 | -57 | -72 | -103 | -143 | -130 | -149 |
| Net Cash Flow | 49 | -37 | 19 | -6 | 159 | -155 | 1 | -29 | 68 | -49 | 30 | 242 |
| Free Cash Flow | 92 | -72 | 55 | 23 | 184 | 184 | 269 | -213 | 92 | 233 | 135 | 290 |
| CFO/OP | 99 | -12 | 100 | 38 | 111 | 98 | 104 | 56 | 80 | 120 | 75 | 110 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 13 | 19 | 24 | 30 | 24 | 25 | 24 | 31 | 33 | 38 | 35 | 34 |
| Inventory Days | 187 | 277 | 221 | 227 | 239 | 220 | 180 | 231 | 238 | 202 | 219 | 232 |
| Days Payable | 61 | 99 | 83 | 66 | 74 | 75 | 65 | 104 | 95 | 76 | 73 | 77 |
| Cash Conversion Cycle | 139 | 197 | 162 | 191 | 189 | 170 | 139 | 158 | 176 | 164 | 181 | 189 |
| Working Capital Days | 31 | 45 | 49 | 72 | 62 | 59 | 42 | 58 | 59 | 55 | 60 | 68 |
| ROCE % | 35% | 11% | 15% | 23% | 27% | 30% | 36% | 21% | 11% | 14% | 14% | 16% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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61 extracted metrics + investor summaries across FY14–FY27.
Documents
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Company Information
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]
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