Vaibhav Global Limited reported a 7.0% increase in revenue from operations to ₹938.4 crore for the second quarter ended September 30, 2026 (Q2 FY27). The company highlighted the successful completion of its transition to the Shopify Enterprise platform, which is expected to provide a stronger foundation for digital growth. Despite near-term challenges impacting digital conversion and revenue, overall revenue for the first half (H1 FY27) grew by 9.7%. EBITDA for Q2 FY27 stood at ₹76.2 crore, with an 8.1% margin.
Vaibhav Global Reports Q2 FY27 Financial Results
Vaibhav Global Limited (VGL) announced its financial results for the second quarter and half year ended September 30, 2026. The company reported a 7.0% increase in revenue from operations, reaching ₹938.4 crore in Q2 FY27. For the first half of FY27 (H1 FY27), total revenue saw a growth of 9.7%, amounting to ₹1,855.4 crore.
Platform Transition and Operational Impact
Mr. Sunil Agarwal, Managing Director, stated that Q2 FY27 was a transitional quarter, marked by the migration of channel websites from Salesforce Commerce Cloud to Shopify Enterprise. This transition, while completed smoothly, led to temporary integration challenges affecting digital conversion and revenue. The company also consolidated its UK operations into a single headquarters. Despite these factors, VGL’s European business showed growth in constant currency, and its B2B segment recorded strong performance.
Key Financial Highlights
- Revenue Growth: Q2 FY27 revenue increased by 7.0% to ₹938.4 crore. H1 FY27 revenue grew by 9.7% to ₹1,855.4 crore.
- EBITDA Performance: Q2 FY27 EBITDA was ₹76.2 crore, with an EBITDA margin of 8.1%. H1 FY27 EBITDA increased by 9.6% to ₹178.3 crore, with a margin of 9.6%.
- United States: Q2 FY27 revenue stood at ₹500.0 crore, a 4.3% increase in rupee terms.
- United Kingdom: Q2 FY27 revenue was ₹257.2 crore, up 2.3% in rupee terms.
- Europe (excluding UK): Q2 FY27 revenue increased by 18.3% in rupee terms to ₹110.0 crore.
- B2B Business: Q2 FY27 revenue grew 32.4% to ₹70.9 crore, with EBITDA up 18.5% YoY to ₹42.4 crore.
Digital Business Metrics
eCommerce contributed 42.4% of B2C revenue in Q2 FY27. All retail businesses have now migrated to Shopify Enterprise, aiming to strengthen customer acquisition and improve operating leverage for future growth.
Source: BSE
