Vaibhav Global Limited (VGL) reported a 9.1% Y-o-Y revenue growth in Q3 FY26, reaching INR 1,066 crores. The company achieved this despite challenging geopolitical conditions, with gross margins improving to 63%. VGL is on track to reach 50% digital contribution by the end of FY27 and anticipates continued profitable growth, projecting revenue growth of 9% to 11% in FY27, alongside an EBITDA margin of 10.5% to 11%.
Financial Performance Highlights
Vaibhav Global Limited’s Q3 FY26 earnings call highlighted several key achievements. Consolidated quarterly revenue reached INR 1,066 crores, marking a 9.1% year-over-year growth. Gross margin stood at 63%, a 170 basis points increase driven by the company’s vertically integrated global supply chain. The company’s digital contribution accounted for 42% of B2C revenue, putting it on track to achieve the targeted 50% by the end of FY27. In-house brands reached 48% of sales contribution during the quarter.
Segmental Performance
In the U.S., revenue growth was 3% Y-o-Y. The company started in-house jewelry casting manufacturing operations to mitigate tariffs, increasing gross margin by 30 basis points. In the U.K., revenue decreased by 1.8%, with Ideal World growing by 12% Y-o-Y but TJC experiencing a negative growth of 6%. Germany delivered revenue growth of 5.1%, supported by live TV commerce, and turned profitable with an EBITDA margin of around 6%.
Strategic Initiatives and Outlook
The company is guided by four clear priorities: expanding Reach, new customer Registration and acquisition, Retention, and Repeat purchases. TV networks reached 127 million households, and the unique customer base stood at 706,000. A third interim dividend of INR1.5 per equity share was approved. Looking ahead, VGL expects revenue growth of 9% to 11% in FY27 with an EBITDA margin of 10.5% to 11%.
Sustainability Efforts
Vaibhav Global is committed to sustainability, aligning its carbon reduction strategy with the 1.5 degrees centigrade increment pathway under the Paris Agreement. The company’s ICRA ESG rating was upgraded to 73. Renewable energy generation reached 1.1 million kilowatt hours during the quarter. The VGL Group is now Great Place to Work® certified across all geographies, and the ‘your purchase feeds…’ program has served 109 million meals to date.
Source: BSE
