VAIBHAVGBL

Vaibhav Global Limited

TV-home-shopping and digital retailer of fashion jewelry and lifestyle products

Consumer Discretionary›Consumer Durables›Consumer Durables›Gems, Jewellery And Watches

vaibhavglobal.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹210.88
Market cap
3,528 Cr
Stock P/E
12.4
P/B
2.13
Dividend yield
3.0%
ROE (FY26)
16.1%
ROCE (FY26)
16.9%
Operating margin (FY26)
6.9%
Debt / equity (FY26)
0.07
OCF / EBITDA (FY26)
86.6%
OCF / EBITDA (3Y)
82.1%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Vaibhav Global (VGL) sells jewellery and lifestyle products direct to consumers in the US, UK and Germany through its own TV shopping channels, websites and apps.

Company snapshot

16thBy market cap

Ranked among 39 companies in Gems, Jewellery And Watches.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 60.1% of revenue

SegmentRevenue shareRevenuePBTAssets
Europe (excluding United Kingdom)
10.6%
104 Cr-16 Cr0 Cr
India
19.4%
190 Cr39 Cr0 Cr
Intersegment eliminations—0 Cr-53 Cr0 Cr
Rest of world
8.9%
87 Cr28 Cr0 Cr
United Kingdom
28.5%
279 Cr22 Cr0 Cr
United States of America
60.1%
588 Cr65 Cr0 Cr

Shares add up to 128% because segment revenues are before inter-segment eliminations.

What we see

Positives
  • ✓Debt-to-equity of 0.07x — the company is largely funded by its own money, not borrowed funds.
2 more signals from the filings.Sign in free to see them all

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales705 Cr888 Cr789 Cr756 Cr796 Cr977 Cr850 Cr814 Cr877 Cr1,066 Cr935 Cr917 Cr
Operating expenses (approx.)642 Cr795 Cr736 Cr699 Cr736 Cr868 Cr788 Cr752 Cr800 Cr930 Cr851 Cr820 Cr
EBITDA63 Cr93 Cr53 Cr57 Cr60 Cr110 Cr62 Cr62 Cr78 Cr136 Cr83 Cr97 Cr
OPM %9.0%10.5%6.8%7.6%7.6%11.2%7.3%7.6%8.8%12.7%8.9%10.5%
Other income3 Cr6 Cr10 Cr9 Cr9 Cr2 Cr8 Cr13 Cr11 Cr5 Cr13 Cr5 Cr
Interest3 Cr3 Cr3 Cr3 Cr4 Cr4 Cr4 Cr4 Cr3 Cr4 Cr4 Cr5 Cr
Depreciation23 Cr23 Cr25 Cr25 Cr26 Cr26 Cr25 Cr25 Cr24 Cr25 Cr28 Cr27 Cr
Profit before tax41 Cr68 Cr32 Cr37 Cr39 Cr82 Cr41 Cr46 Cr60 Cr112 Cr64 Cr71 Cr
Tax %29.8%31.2%33.5%26.6%29.3%22.4%17.4%17.9%21.1%19.7%-42.6%20.4%
Net profit29 Cr47 Cr21 Cr27 Cr28 Cr64 Cr34 Cr38 Cr48 Cr90 Cr91 Cr56 Cr
EPS (₹)₹1.78₹2.87₹1.30₹1.67₹1.68₹3.85₹2.05₹2.26₹2.85₹5.39₹5.47₹3.37

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,439 Cr1,575 Cr1,814 Cr1,986 Cr2,540 Cr2,752 Cr2,691 Cr3,041 Cr3,380 Cr3,692 CrSign in free for the trailing twelve months
Operating expenses (approx.)1,353 Cr1,427 Cr1,611 Cr1,725 Cr2,170 Cr2,471 Cr2,491 Cr2,772 Cr3,090 Cr3,334 CrSign in free for the trailing twelve months
EBITDA86 Cr148 Cr203 Cr262 Cr370 Cr281 Cr200 Cr268 Cr289 Cr358 CrSign in free for the trailing twelve months
OPM %6.0%9.4%11.2%13.2%14.6%10.2%7.4%8.8%8.6%9.7%Sign in free for the trailing twelve months
Other income16 Cr10 Cr14 Cr15 Cr18 Cr22 Cr28 Cr27 Cr28 Cr41 CrSign in free for the trailing twelve months
Interest6 Cr4 Cr5 Cr9 Cr5 Cr6 Cr8 Cr12 Cr15 Cr15 CrSign in free for the trailing twelve months
Depreciation29 Cr25 Cr25 Cr31 Cr39 Cr55 Cr78 Cr93 Cr102 Cr103 CrSign in free for the trailing twelve months
Profit before tax66 Cr129 Cr188 Cr236 Cr344 Cr271 Cr141 Cr182 Cr200 Cr282 CrSign in free for the trailing twelve months
Tax %2.3%12.9%18.1%19.5%21.0%12.4%25.6%30.3%23.5%5.6%Sign in free for the trailing twelve months
Net profit65 Cr112 Cr154 Cr190 Cr272 Cr237 Cr105 Cr127 Cr153 Cr266 CrSign in free for the trailing twelve months
EPS (₹)₹19.85₹34.55₹47.27₹58.65₹83.86₹14.56₹6.39₹7.74₹9.25₹15.97Sign in free for the trailing twelve months
Dividend payout %————29.2%42.8%97.3%80.2%68.0%39.6%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital33 Cr33 Cr33 Cr32 Cr33 Cr33 Cr33 Cr33 Cr33 Cr33 Cr
Reserves402 Cr518 Cr664 Cr719 Cr931 Cr1,094 Cr1,168 Cr1,225 Cr1,317 Cr1,615 Cr
Borrowings83 Cr67 Cr66 Cr64 Cr92 Cr99 Cr115 Cr106 Cr114 Cr112 Cr
Other liabilities159 Cr146 Cr179 Cr275 Cr340 Cr463 Cr471 Cr525 Cr576 Cr787 Cr
Total liabilities676 Cr763 Cr943 Cr1,091 Cr1,395 Cr1,690 Cr1,789 Cr1,889 Cr2,040 Cr2,547 Cr
Fixed assets (net)73 Cr71 Cr70 Cr110 Cr116 Cr321 Cr334 Cr353 Cr210 Cr206 Cr
CWIP——1 Cr4 Cr8 Cr1 Cr4 Cr0 Cr0.63 Cr13 Cr
Investments5 Cr12 Cr18 Cr82 Cr280 Cr84 Cr34 Cr128 Cr227 Cr315 Cr
Loans & advances——1 Cr2 Cr1 Cr1 Cr1 Cr1 Cr1 Cr4 Cr
Inventories304 Cr352 Cr396 Cr420 Cr446 Cr619 Cr643 Cr596 Cr701 Cr811 Cr
Trade receivables96 Cr129 Cr118 Cr135 Cr167 Cr232 Cr240 Cr313 Cr324 Cr340 Cr
Cash & bank72 Cr67 Cr226 Cr71 Cr72 Cr43 Cr111 Cr61 Cr91 Cr334 Cr
Other assets126 Cr133 Cr112 Cr268 Cr305 Cr389 Cr421 Cr436 Cr486 Cr525 Cr
Total assets676 Cr763 Cr943 Cr1,091 Cr1,395 Cr1,690 Cr1,789 Cr1,889 Cr2,040 Cr2,547 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity74 Cr41 Cr204 Cr213 Cr326 Cr88 Cr127 Cr277 Cr165 Cr310 Cr
Cash from investing-20 Cr-21 Cr-24 Cr-187 Cr-268 Cr-45 Cr40 Cr-184 Cr-7 Cr78 Cr
Cash from financing-30 Cr-24 Cr-23 Cr-184 Cr-57 Cr-72 Cr-103 Cr-143 Cr-130 Cr-149 Cr
Net cash flow19 Cr-6 Cr159 Cr-155 Cr1 Cr-29 Cr68 Cr-49 Cr30 Cr242 Cr
Free cash flow (OCF − Capex)55 Cr23 Cr182 Cr184 Cr269 Cr-213 Cr92 Cr233 Cr130 Cr277 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %14.0%21.6%25.3%30.0%33.0%22.5%11.3%14.2%14.7%16.9%
ROE %14.9%20.4%22.1%25.3%28.2%21.1%8.7%10.2%11.4%16.1%
Debtor days24302425243133383533
Inventory days356414477556596754890683690740
Days payable134121148189215340356257230245
Cash conversion cycle247323352391405444567463495529
OCF / EBITDA %86.0%27.5%100.5%81.5%88.0%31.3%63.7%103.1%57.0%86.6%
OCF / EBITDA % (3 years)——72.9%74.8%89.0%68.7%63.5%65.6%75.1%82.1%
Debt / equity0.190.120.100.090.100.090.100.080.080.07
Current ratio2.152.873.282.852.872.252.362.332.372.76
Net debt / EBITDA0.12—-0.79-0.020.050.200.020.170.08-0.62