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CARE Upgrades Vaibhav Global's Short-Term Bank Facilities Rating to CARE A1+ on Rs 120 Cr Limits
CARE Ratings has upgraded Vaibhav Global Limited's short-term bank facility rating from CARE A1 to CARE A1+, while reaffirming its long-term rating at CARE A+ with a Stable outlook. The upgrade covers total bank facilities of Rs 120.00 crore across four banks, led by Punjab National Bank (Rs 48.00 crore) and HDFC Bank (Rs 34.00 crore). The rating action reflects the company's operational stability, strong balance sheet with low leverage (Debt/Equity of 0.13x), and healthy cash flow profile.
Confidence: HIGH
What changedCARE Ratings upgraded the company's short-term rating from CARE A1 to CARE A1+ and reaffirmed CARE A+; Stable on Rs 120 crore of bank facilities.
Why it mattersThe upgrade to CARE's highest short-term rating tier validates strong liquidity and may marginally lower working capital borrowing costs for export credit and bill discounting.
Total rated bank facilities: Rs 120.00 croreUpgraded rating: CARE A+; Stable / CARE A1+Previous rating: CARE A+; Stable / CARE A1Rated facilities vs Net Worth: ~13.7%
📅 Short termPositive sentiment indicator reflecting sound short-term debt servicing capability and lender confidence.
📈 Long termDemonstrates structural balance sheet strength and disciplined capital allocation as the company expands international operations.
Key Highlights
Short-term bank facilities rating upgraded to CARE A1+ from CARE A1 for Rs 120.00 crore bank lines
Long-term bank facility rating reaffirmed at CARE A+ with a Stable outlook
Facilities distributed across PNB (Rs 48.00 cr), HDFC Bank (Rs 34.00 cr), Yes Bank (Rs 21.00 cr), SBI (Rs 15.00 cr), and Proposed (Rs 2.00 cr)
Rating evaluation was based on audited FY26 and unaudited Q1 FY27 operational and financial performance
👀 What to Watch
Monitor upcoming quarterly results to verify working capital management and any reduction in borrowing costs resulting from the upgraded credit profile.
50% PAT Growth in Q1 FY27; Vaibhav Global Reports ₹917 Cr Revenue and 11% EBITDA Margin
Vaibhav Global reported a 12.7% YoY revenue growth to ₹917 Cr for Q1 FY27, although constant currency revenue remained flat due to macro headwinds in the US and UK. Profitability saw a significant boost with PAT rising 50% to ₹56 Cr, aided by a ₹25.5 Cr US tariff refund and favorable foreign exchange. The company is aggressively transitioning to a digital-first model, with digital sales now comprising 45% of B2C revenue. Management maintained its FY27 guidance of 9-11% revenue growth and 50-100 bps margin expansion.
Confidence: HIGH
What changedThe company completed a major technology migration from Salesforce to Shopify Enterprise and reported a significant 180 bps EBITDA margin expansion.
Why it mattersThe shift toward digital sales (45%) and lab-grown diamonds (13%) is structurally improving the margin profile and reducing reliance on traditional TV shopping channels.
Revenue Growth (YoY): 12.7%EBITDA Margin: 11%US Tariff Refund: ₹25.5 CrDigital Sales Mix: 45%Interim Dividend: ₹1.5 per share
📅 Short termPositive sentiment is expected due to strong PAT growth and margin expansion, though the flat constant currency revenue indicates underlying macro pressure.
📈 Long termThe structural shift towards an AI-led, digital-first omnichannel model and expansion in Germany provides a path toward the company's 12-15% long-term growth target.
⚠ Risk flags
- Weak consumer confidence in US/UK markets
- Potential 50% tariffs on Chinese imports to the US
- Middle East conflict-related supply disruptions
Key Highlights
Consolidated revenue grew 12.7% YoY to ₹917 Cr, while EBITDA rose 37% to ₹102 Cr.
PAT increased 50% YoY to ₹56 Cr, supported by a ₹25.5 Cr one-time US tariff refund.
Lab-grown diamonds now account for 13% of retail revenue with a higher Average Selling Price of ~$250.
Digital sales reached 45% of B2C revenue, nearing the FY27 target of 50%.
Germany business grew 6% in local currency and is expected to contribute positively to group profitability in FY27.
👀 What to Watch
Monitor the trajectory of the German market's profitability and the impact of the Shopify migration on customer acquisition costs, which management aims to reduce to a 3-month profitability window.
Q1 FY27: PAT up 50% to ₹56 Cr; EBITDA grows 37% with 68% Gross Margins
Vaibhav Global reported a strong start to FY27 with PAT rising 50% YoY to ₹56 Cr, significantly outpacing revenue growth of 13% (₹917 Cr). Profitability was driven by a sharp expansion in Gross Margins to 68% (up 417 bps YoY), fueled by a higher mix of in-house brands which now constitute 57% of B2C revenue. While constant currency revenue remained flat due to Middle East geopolitical disruptions and cautious consumer spending, the company maintained a healthy net cash position of ₹287 Cr. An interim dividend of ₹1.5 per share was declared.
Confidence: HIGH
What changedThe company has successfully shifted its product mix toward higher-margin in-house brands (57% vs 36% YoY) and improved its gross margin profile to 68%.
Why it mattersThe significant margin expansion demonstrates the resilience of the vertically integrated business model, allowing for profit growth even when macro-economic factors keep constant currency revenue flat.
Q1 FY27 Revenue: ₹917 CrQ1 FY27 PAT: ₹56 CrGross Margin: 68%Interim Dividend: ₹1.5/shareIn-house Brand Mix: 57%Net Cash: ₹287 Cr
📅 Short termThe stock is likely to react positively to the strong margin expansion and 50% PAT growth, which exceeded market expectations despite flat constant currency revenue.
📈 Long termThe structural shift toward proprietary brands and digital-first platforms (Shopify) positions the company for higher sustainable profitability as consumer spending in US/UK markets stabilizes.
⚠ Risk flags
- Flat constant currency revenue growth
- Geopolitical disruptions in the Middle East affecting supply/demand
- Potential 50% tariffs on Chinese imports to the US
Key Highlights
Revenue increased 13% YoY to ₹917 Cr, representing approximately 25% of TTM revenue.
EBITDA grew 37% YoY to ₹102 Cr, with EBITDA margins improving as operating leverage kicked in.
In-house brands contribution to B2C revenue surged to 57% from 36% in the previous year.
Gross Margins reached 68%, a 417 bps improvement YoY and 402 bps improvement QoQ.
Declared an interim dividend of ₹1.5 per equity share for the quarter.
👀 What to Watch
Investors should monitor the recovery in constant currency revenue growth in upcoming quarters and the impact of the migration to the Shopify Enterprise platform on digital sales efficiency.
50% PAT Growth in Q1 FY27; Vaibhav Global Targets Rs 5,500 Cr Revenue by FY30
Vaibhav Global reported a strong Q1 FY27 with revenue growing 13% YoY to Rs 917 Cr and PAT surging 50% to Rs 56 Cr. The company's vertically integrated model continues to deliver superior gross margins of ~60%, compared to the ~40% industry average for typical importers. Digital revenue grew 21% YoY to Rs 398 Cr, now contributing 43.4% of total sales. The company maintains a robust balance sheet with Rs 296 Cr in net cash and has set an ambitious revenue target of Rs 5,000–5,500 Cr by FY30.
Confidence: HIGH
What changedThe company reported Q1 FY27 results showing significant bottom-line acceleration (50% PAT growth) and a record high in-house brand mix of 57.2%.
Why it mattersThe results validate the operating leverage of VGL's vertically integrated model and its ability to scale digital channels (21% growth) while maintaining high gross margins in competitive Western markets.
Q1 FY27 Revenue: Rs 917 CrQ1 PAT Growth (YoY): 50%In-house Brand Mix: 57.2%Net Cash Position: Rs 296 CrFY30 Revenue Target: Rs 5,500 CrQ1 Revenue vs TTM Revenue: 24.8%
📅 Short termThe stock may react positively to the 50% PAT growth and 37% EBITDA growth, which indicates strong operational efficiency and margin expansion.
📈 Long termThe structural shift toward digital commerce and higher-margin owned brands, combined with a net-cash balance sheet, supports the company's long-term target of doubling revenue by FY30.
⚠ Risk flags
- High dependency on TV broadcasting networks (18% of revenue cost)
- Potential 50% tariffs on Chinese imports to the US could squeeze margins
Key Highlights
Q1 FY27 PAT increased by 50% YoY to Rs 56 Cr, with EBITDA margins expanding to 11% (Rs 102 Cr).
In-house brand revenue contribution reached 57.2% in Q1 FY27, significantly up from 48.8% in FY26.
Digital revenue grew 21% YoY to Rs 398 Cr, tracking toward the company's 50% digital mix target for FY27.
Maintained a strong capital position with Rs 296 Cr net cash and a reported ROCE of 24%.
Omnichannel reach expanded to 127 million households across USA, UK, and Germany.
👀 What to Watch
Investors should monitor the execution of the FY30 roadmap and the margin impact as digital sales approach the 50% target. Key metrics to watch include the continued profitability of the German market and the impact of potential US tariffs on Chinese imports, which could affect cost structures.
₹1.50 Interim Dividend Declared; Q1 FY27 Net Profit Surges 49.8% YoY to ₹56.38 Cr
Vaibhav Global Limited (VGL) has declared an interim dividend of ₹1.50 per share for FY27, following a strong Q1 performance. Consolidated revenue for Q1 FY27 rose 12.7% YoY to ₹917.07 Cr, while Net Profit (PAT) jumped 49.8% YoY to ₹56.38 Cr from ₹37.63 Cr. The company also strengthened its governance by appointing Ernst & Young LLP (EY) as internal auditors for a two-year term. Operational costs remain dominated by content and broadcasting expenses, which stood at ₹196.55 Cr for the quarter.
Confidence: HIGH
What changedVGL has initiated its FY27 dividend cycle and reported a significant improvement in quarterly profitability compared to the previous year.
Why it mattersThe strong earnings growth suggests that VGL's strategy of scaling lab-grown diamonds and international markets (Germany) is translating into bottom-line results, while the dividend maintains its track record of shareholder payouts.
Interim Dividend: ₹1.50 per shareQ1 FY27 Revenue: ₹917.07 CrQ1 FY27 PAT: ₹56.38 CrYoY PAT Growth: 49.8%Dividend Record Date: 12-Aug-2026Q1 Revenue vs TTM Revenue: 24.8%
📅 Short termThe stock is likely to react positively to the earnings beat and the dividend announcement in the coming days.
📈 Long termVGL's vertical integration and omni-channel presence provide a structural moat, though long-term success depends on navigating geopolitical tariff risks and scaling new geographies.
⚠ Risk flags
- High dependency on TV broadcasting networks for sales (₹196.55 Cr cost in Q1).
- Potential 50% tariffs on Chinese imports to the US could squeeze gross margins.
Key Highlights
Interim dividend of ₹1.50 per equity share declared with a record date of August 12, 2026.
Consolidated Q1 FY27 revenue reached ₹917.07 Cr, up from ₹813.74 Cr in Q1 FY26.
Net profit for the quarter increased to ₹56.38 Cr, representing a 49.8% growth over the previous year's corresponding quarter.
Content and broadcasting expenses accounted for ₹196.55 Cr, approximately 21.4% of revenue from operations.
Board approved the grant of 119,998 stock-based units (MSOPs, RSUs, and ESOPs) at an exercise price of ₹2 per share.
👀 What to Watch
Investors should monitor the sustainability of the 49.8% PAT growth and the performance of the German market, which is a key expansion pillar. Watch for any impact from potential US tariffs on Chinese imports mentioned in the risk profile.
PAT Up 49.8% YoY to ₹56.4 Cr; ₹1.50 Interim Dividend Declared
Vaibhav Global reported a strong Q1 FY27 with consolidated revenue growing 12.7% YoY to ₹917.1 Cr. Net profit (PAT) surged 49.8% YoY to ₹56.4 Cr, driven by robust performance in the US market which grew 20.9% YoY. The board declared an interim dividend of ₹1.50 per share (75% of face value) with a record date of August 12, 2026. Additionally, the company appointed EY as internal auditors for a two-year term to strengthen governance.
Confidence: HIGH
What changedVaibhav Global reported its Q1 FY27 financial results, showing significant bottom-line growth and declaring its first interim dividend for the new fiscal year.
Why it mattersThe 50% PAT growth indicates strong operational leverage and successful scaling in the US market, while the dividend maintains the company's track record of shareholder returns.
Revenue (Q1 FY27): ₹917.07 CrPAT (Q1 FY27): ₹56.38 CrInterim Dividend: ₹1.50 per shareUS Revenue Growth (YoY): 20.9%PAT Margin (Q1 FY27): 6.15%
📅 Short termThe stock is likely to react positively to the strong earnings growth and the immediate dividend payout (record date Aug 12).
📈 Long termThe company's vertical integration and expansion into Germany and lab-grown diamonds provide a structural growth runway, though geopolitical risks like US-China tariffs remain a watch item.
⚠ Risk flags
- UK segment reported a loss of ₹47.48 lakhs at the result level
- High geographic concentration with ~65% revenue from the USA
- Potential impact of US tariffs on Chinese imports
Key Highlights
Consolidated Revenue from operations increased 12.7% YoY to ₹917.07 Cr from ₹813.74 Cr.
Net Profit (PAT) grew 49.8% YoY to ₹56.38 Cr compared to ₹37.63 Cr in the previous year's quarter.
Interim Dividend of ₹1.50 per equity share declared for FY 2026-27.
US segment revenue reached ₹598.01 Cr, contributing approximately 65% of total revenue.
Grant of 119,998 total share-based units (MSOP/RSU/ESOP) approved at an exercise price of ₹2 per share.
👀 What to Watch
Investors should monitor the UK segment's path back to profitability, as it reported a marginal loss of ₹0.47 Cr this quarter. The continued growth in the US market and the impact of lab-grown diamond sales on gross margins remain key performance indicators.
Vaibhav Global FY26 PBT Surges 41%; Germany Turns EBITDA Positive with Record Free Cash Flow
Vaibhav Global Limited (VGL) reported a robust FY26 performance with consolidated revenue reaching INR 3,691 crores and Profit Before Tax growing 41% year-on-year. A major milestone was achieved as the Germany business turned EBITDA positive for the full year, while in-house brands crossed 50% of B2C sales ahead of schedule. The company generated its highest-ever free cash flow of INR 272 crores and maintained a strong net cash position of INR 296 crores. Management has issued a positive outlook for FY27, targeting 9-11% revenue growth and further margin expansion.
Key Highlights
FY26 Profit Before Tax grew 41% YoY with EBITDA margins expanding 140 bps to 10.8%.
Germany operations achieved full-year EBITDA breakeven and are expected to be profit-accretive in FY27.
Generated record free cash flow of INR 272 crores and declared a total dividend of INR 6 per share for the fiscal year.
In-house brands now account for over 50% of B2C sales, improving sourcing efficiencies and gross margins.
Lab-grown diamonds (LGD) now contribute 11% of retail revenue with an average selling price of USD 250.
👀 What to Watch
Investors should take note of the successful turnaround in Germany and the record cash flow generation as signs of maturing international operations. The company's shift toward higher-margin in-house brands and digital sales provides a solid foundation for the projected 50-100 bps margin expansion in FY27.
Vaibhav Global Q4 PAT Surges 167% to ₹91 Cr; FY26 Revenue Hits ₹3,692 Cr
Vaibhav Global Limited (VGL) reported a steady 10% YoY revenue growth in Q4 FY26, reaching ₹935 crore, with full-year revenue at ₹3,692 crore. Net profit for the quarter surged 167.4% to ₹91.1 crore (aided by MAT credit), while core PAT excluding MAT grew 30.4% to ₹44.4 crore. The company demonstrated strong operational efficiency with EBITDA margins expanding to 10.3% from 8.3% YoY. VGL achieved its 50% in-house brand contribution target a year ahead of schedule, supported by robust free cash flows of ₹272 crore for the full year.
Key Highlights
Q4 FY26 Revenue grew 10% YoY to ₹935 Cr; FY26 Revenue up 9% to ₹3,692 Cr.
EBITDA margins improved significantly to 10.3% in Q4 FY26 compared to 8.3% in Q4 FY25.
Core PAT (excluding MAT credit) grew 30.4% YoY to ₹44.4 Cr for the quarter.
Strong cash generation with FY26 Free Cash Flow (FCF) at ₹272 Cr and Net Cash position of ₹296 Cr.
In-house brand contribution reached 48.8% in FY26, nearly meeting the 50% target a year early.
Final dividend of ₹1.50 per share announced, bringing the total annual payout to ~₹100 Cr.
👀 What to Watch
Investors should view the margin expansion and strong cash flow generation as positive indicators of the company's vertically integrated model. The early achievement of in-house brand targets suggests improved pricing power and brand strength in the US and UK markets.
Vaibhav Global Q4 FY26 PAT Jumps 30.4% YoY to ₹44.4 Cr; Final Dividend of ₹1.50 Declared
Vaibhav Global reported a strong Q4 FY26 with revenue growing 10% YoY to ₹934.7 crore and EBITDA surging 36% to ₹95.9 crore. The company achieved its FY27 target for in-house brand contribution (53%) ahead of schedule, which significantly boosted gross margins to 63.9%. Full-year FY26 performance was robust, with PAT increasing 43.4% YoY to ₹219.4 crore. Additionally, the company's Germany operations turned profitable, and a final dividend of ₹1.50 per share was recommended.
Key Highlights
Q4 Revenue rose 10% YoY to ₹934.7 Cr; FY26 Revenue up 9.2% to ₹3,691.8 Cr
Q4 EBITDA grew 36% YoY to ₹95.9 Cr with margins returning to double digits after three years
In-house brands reached 53% of B2C revenue, surpassing the FY27 target of 50%+ early
Net Cash position strengthened significantly by 74.1% YoY to ₹295.7 Cr
Recommended a final dividend of ₹1.50 per equity share for FY26
👀 What to Watch
Investors should note the significant margin expansion and early achievement of strategic in-house brand targets as indicators of operational efficiency. The turnaround in German operations and strong cash reserves suggest a positive outlook for continued global expansion.
Vaibhav Global Sets June 26, 2026, as Record Date for Final Dividend
Vaibhav Global Limited has officially fixed Friday, June 26, 2026, as the record date for determining shareholder eligibility for the final dividend of FY 2025-26. The dividend payment is subject to approval by the company's members at the upcoming general meeting. Shareholders must hold the stock in their demat accounts by this date to qualify for the payout. This announcement follows the company's standard practice of rewarding shareholders at the end of the fiscal year.
Key Highlights
Record date for final dividend for FY 2025-26 is fixed as June 26, 2026.
The dividend distribution is contingent upon approval by the company's members.
Announcement made in compliance with Regulation 42 of SEBI (LODR) Regulations, 2015.
The record date applies to equity shares traded under NSE symbol VAIBHAVGBL and BSE scrip 532156.
👀 What to Watch
Investors seeking to receive the final dividend should ensure they purchase or hold the shares before the ex-dividend date. Monitor for the specific dividend amount per share which is typically declared alongside annual results.
Vaibhav Global FY26 Net Profit Jumps 74% to ₹266 Cr; Recommends ₹1.50 Final Dividend
Vaibhav Global reported a strong financial performance for FY26, with consolidated revenue growing 9.2% YoY to ₹3,691.8 crore. Net profit for the full year saw a substantial jump of 73.8%, reaching ₹266.1 crore compared to ₹153.1 crore in the previous year. For the fourth quarter alone, profit more than doubled to ₹91.1 crore from ₹34.1 crore in Q4 FY25. The board has recommended a final dividend of ₹1.50 per share, reflecting confidence in the company's cash flow position.
Key Highlights
Full-year FY26 consolidated revenue increased to ₹3,69,179 lakhs from ₹3,37,958 lakhs in FY25.
Annual net profit grew significantly by 73.8% YoY to ₹26,613 lakhs.
Q4 FY26 net profit rose to ₹9,114 lakhs, a 167% increase compared to ₹3,408 lakhs in Q4 FY25.
Recommended a final dividend of ₹1.50 per equity share on a face value of ₹2.
Cash and cash equivalents strengthened significantly to ₹33,354 lakhs as of March 31, 2026.
👀 What to Watch
The company demonstrates strong earnings momentum and a healthy cash position. Long-term investors may find the growth in profitability and consistent dividend payouts attractive.
Vaibhav Global FY26 PAT Surges 74% to ₹266 Cr; Recommends ₹1.50 Final Dividend
Vaibhav Global reported a strong financial performance for FY26, with annual consolidated revenue growing 9.2% to ₹3,692 crore. The net profit for the full year saw a significant jump of 73.8%, reaching ₹266.1 crore compared to ₹153.1 crore in the previous year. For the fourth quarter, PAT rose sharply by 167% YoY to ₹91.1 crore, partially aided by a substantial deferred tax credit. The company's cash flow from operations nearly doubled during the year, supporting the recommendation of a ₹1.50 per share final dividend.
Key Highlights
Annual Consolidated Revenue increased by 9.2% YoY to ₹3,69,179 lakhs in FY26.
Full-year Net Profit (PAT) surged 73.8% to ₹26,613 lakhs from ₹15,313 lakhs in FY25.
Q4 FY26 PAT grew 167% YoY to ₹9,114 lakhs, supported by a deferred tax credit of ₹4,476 lakhs.
Net cash generated from operating activities nearly doubled to ₹31,022 lakhs compared to ₹16,478 lakhs in the previous year.
Board recommended a final dividend of ₹1.50 per equity share (75% of face value) for FY26.
👀 What to Watch
Investors should view the strong growth in net profit and robust cash flow generation as positive indicators of operational efficiency. While the Q4 bottom line was boosted by tax credits, the overall annual growth trajectory and consistent dividend payout remain attractive for long-term holders.
Vaibhav Global Q3 FY26: Revenue Crosses ₹1,000 Cr Mark; PAT Surges 41% Y-o-Y
Vaibhav Global reported a strong Q3 FY26 with consolidated revenue growing 9.1% Y-o-Y to ₹1,066 crore, surpassing the ₹1,000 crore milestone for the first time. Profit after tax (PAT) saw a significant jump of 41% to ₹90 crore, driven by gross margin expansion to 63% and operational efficiencies. The company's Germany operations turned profitable with a 6% EBITDA margin, while digital sales now contribute 42% to the total B2C revenue. Management maintained a positive outlook, guiding for 9-11% revenue growth in FY27.
Key Highlights
Consolidated revenue reached ₹1,066 crore, a 9.1% Y-o-Y growth, exceeding management guidance.
EBITDA margins expanded by 170 bps to 13.2%, with PAT growing 41% Y-o-Y to ₹90 crore.
Germany business achieved EBITDA breakeven and turned profitable with a 6% margin during the quarter.
Lab-grown diamonds (LGD) now contribute 10.7% to retail revenue with a high average selling price of $250.
Board approved a third interim dividend of ₹1.5 per equity share, representing a 28% payout.
👀 What to Watch
Investors should take note of the significant margin expansion and the successful turnaround of the German operations. The increasing contribution of high-margin lab-grown diamonds and in-house brands suggests a sustainable improvement in profitability.
Vaibhav Global Q3 FY26: PAT Jumps 41% YoY, Revenue up 9.1% to Rs 1,066 Cr
Vaibhav Global reported a strong performance for Q3 FY26, with consolidated revenue growing 9.1% YoY to Rs 1,066 crore. Profitability improved significantly as PAT surged 41% YoY and EBITDA margins expanded to 13.2% from 11.5% in the previous year. The company demonstrated robust cash generation, with Free Cash Flow increasing 165% YoY to Rs 143 crore. Additionally, the Board declared a third interim dividend of Rs 1.50 per share, maintaining a healthy payout ratio.
Key Highlights
Revenue from operations grew 9.1% YoY to Rs 1,066 crore, with digital revenue rising 11.2% to Rs 423 crore.
EBITDA increased by 25.7% YoY to Rs 141 crore, driven by better realizations and cost efficiencies.
Free Cash Flow (FCF) surged by 165% YoY to Rs 143 crore, resulting in a net cash position of Rs 213 crore.
Unique customer base reached 706k (up 2% YoY) with a high repeat purchase rate of 22 pieces per customer on a TTM basis.
Declared a 3rd interim dividend of Rs 1.50 per share, bringing the 9M FY26 dividend payout to 43%.
👀 What to Watch
Investors should take note of the significant margin expansion and strong free cash flow generation, which underscore the company's operational efficiency. The steady growth in digital sales and a net-cash balance sheet make it a resilient play in the global retail space.
Vaibhav Global Q3 FY26: Revenue Crosses ₹1,000 Cr Milestone, PAT Surges 41% YoY
Vaibhav Global Limited (VGL) reported a record-breaking Q3 FY26 with revenue crossing the ₹1,000 crore mark for the first time, reaching ₹1,066 crores (up 9.1% YoY). Profitability showed significant improvement with PAT jumping 41% YoY to ₹90 crores and EBITDA margins expanding by 170 bps to 13.2%. The company also declared a third interim dividend of ₹1.50 per share, representing a 28% payout. Operational efficiency was highlighted by the German market turning profitable and in-house brands contributing 48% to B2C revenue.
Key Highlights
Achieved maiden quarterly revenue of ₹1,066 crores, reflecting 9.1% YoY growth.
Profit After Tax (PAT) increased by 41% YoY to ₹90 crores.
EBITDA grew 26% YoY with margins expanding to 13.2% due to operating leverage.
In-house brands contribution to B2C revenue rose to 48% from 31% in Q3 FY25.
Strong balance sheet maintained with a net cash position of ₹213 crores and ROCE of 21%.
👀 What to Watch
Investors should take note of the margin expansion and the turnaround in the German business as key growth drivers. The company's ability to exceed revenue guidance and maintain a healthy dividend payout makes it a strong performer in the global e-tailing space.
Vaibhav Global Sets February 3, 2026 as Record Date for 3rd Interim Dividend
Vaibhav Global Limited has officially fixed Tuesday, February 3, 2026, as the record date for its 3rd interim dividend for the financial year 2025-26. This announcement identifies the shareholders eligible to receive the dividend payout. The company is complying with Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This marks the third dividend distribution for the current fiscal year, highlighting consistent shareholder returns.
Key Highlights
Record date fixed as February 3, 2026, for shareholder eligibility.
The payout pertains to the 3rd Interim Dividend for the financial year 2025-26.
Official intimation filed with NSE and BSE on January 28, 2026.
👀 What to Watch
Investors seeking to qualify for the dividend should ensure they hold the shares in their demat account by the record date. Existing shareholders should maintain their holdings to benefit from this interim payout.
Vaibhav Global Declares Rs 1.50 Interim Dividend; Sets Feb 3 as Record Date
Vaibhav Global's Board has declared a third interim dividend of Rs 1.50 per equity share for the financial year 2025-26. The dividend represents a 75% payout on the face value of Rs 2 per share. The company has fixed February 3, 2026, as the record date to determine shareholder eligibility, with payment expected within 30 days. Additionally, the board approved the grant of over 69,000 employee stock benefits (ESOPs and RSUs) to align employee interests with shareholders.
Key Highlights
Declared 3rd Interim Dividend of Rs 1.50 per equity share for FY 2025-26
Record date for dividend entitlement is fixed as Tuesday, February 3, 2026
Granted 63,789 ESOPs at an exercise price of Rs 176 per share
Granted 5,862 RSUs at a nominal exercise price of Rs 2 per share
Dividend payment to be completed within 30 days from the declaration date
👀 What to Watch
Investors interested in the dividend should ensure they hold the stock before the record date of February 3, 2026. The consistent interim payouts indicate a stable cash-flow-sharing policy by the management.
Vaibhav Global Declares ₹1.50 Interim Dividend; Approves Q3 FY26 Financial Results
Vaibhav Global's board has declared a third interim dividend of ₹1.50 per equity share for the financial year 2025-26. The company also approved its unaudited financial results for the quarter and nine months ended December 31, 2025. Additionally, the board approved the grant of 63,789 ESOPs at an exercise price of ₹176 and 5,862 RSUs at ₹2 to eligible employees. The record date for the dividend payment is set for February 3, 2026.
Key Highlights
Declared 3rd interim dividend of ₹1.50 per equity share (75% of face value).
Record date for dividend entitlement is fixed as February 3, 2026.
Granted 63,789 ESOPs at an exercise price of ₹176 with 100% vesting on Jan 1, 2028.
Granted 5,862 RSUs at an exercise price of ₹2 with a 3-year graded vesting schedule.
Approved unaudited standalone and consolidated financial results for Q3 and 9M FY26.
👀 What to Watch
Investors should ensure they hold the shares before the February 3 record date to qualify for the ₹1.50 dividend. The ESOP exercise price of ₹176 provides a reference point for management's long-term incentive alignment.
Vaibhav Global Reports Q3 FY26 Results; Declares Rs 1.50 Interim Dividend
Vaibhav Global Limited has approved its financial results for the quarter ended December 31, 2025, and declared a third interim dividend of Rs 1.50 per equity share. The record date for the dividend entitlement is set for February 3, 2026, with payment expected within 30 days. Additionally, the company granted 63,789 ESOPs at an exercise price of Rs 176 and 5,862 RSUs at Rs 2 to eligible employees. This move indicates a commitment to shareholder returns and employee retention through share-based incentives.
Key Highlights
Declared 3rd interim dividend of Rs 1.50 per share on a face value of Rs 2
Set February 3, 2026, as the record date for dividend eligibility
Approved unaudited consolidated and standalone financial results for Q3 and 9M FY26
Granted 63,789 ESOPs at an exercise price of Rs 176 and 5,862 RSUs at Rs 2
ESOPs feature a 100% vesting schedule on January 1, 2028
👀 What to Watch
Investors should note the record date of February 3 to qualify for the Rs 1.50 dividend. Monitor the detailed Q3 financial performance to assess the company's growth trajectory and margin stability in the global retail market.
Vaibhav Global's US Subsidiary Receives $2.76 Million Grant Under ERC Scheme
Vaibhav Global's US-based step-down subsidiary, SHOPLC Global Inc., has received a grant of US$ 2.76 million (approximately ₹23 crore) under the Employee Retention Credit (ERC) Scheme. This grant, part of the US CARES Act, is a fully refundable payroll tax credit designed to mitigate COVID-19 economic impacts. The $2.76 million figure is net of expenses and will provide a one-time boost to the company's cash position. The company is currently determining the exact accounting treatment for this grant in its consolidated financial statements.
Key Highlights
SHOPLC Global Inc. (USA) received a grant of US$ 2.76 million net of expenses.
The grant is part of the US Employee Retention Credit (ERC) Scheme under the CARES Act.
The amount is a fully refundable payroll tax credit intended for financial assistance.
Company is evaluating the impact on consolidated financial statements for the current period.
👀 What to Watch
This is a positive one-time liquidity event; investors should look for its reflection in the upcoming quarterly consolidated earnings. No change in long-term fundamental outlook is required based solely on this grant.
