Vaibhav Global Limited (VGL), a leading omni-channel retailer of fashion jewellery and lifestyle products, reported a strong set of financial results for the second quarter of FY26, posting double-digit growth across key metrics.
According to the company’s exchange filing, revenue rose 10.2% year-on-year to ₹877 crore, surpassing its own guidance. The growth was attributed to a more efficient product mix, disciplined pricing strategies, and improved operational execution, resulting in a 63.5% gross margin.
Profit and Margins Expand
EBITDA jumped 28% YoY, with margins expanding by 130 basis points to 10%, driven by productivity gains and operating leverage. Net profit for the quarter surged 71% YoY to ₹48 crore, reflecting strong execution and profitability improvement.
The company’s balance sheet remained healthy with net cash of ₹156 crore. Return on capital employed (ROCE) stood at 20%, while return on equity (ROE) was 13%, indicating efficient capital utilization.
Digital sales accounted for 42% of total B2C revenue, highlighting the success of VGL’s digital transformation initiatives. In-house brands contributed 41% of gross B2C revenue, up from 31% a year ago.
The company also achieved an all-time high of 7.14 lakh unique customers on a trailing twelve-month basis — a 5% YoY increase — along with 3.8 lakh new customer acquisitions during the period.
Management Commentary
Sunil Agrawal, Managing Director of Vaibhav Global Limited, expressed confidence in the company’s outlook:
“We are pleased to report a strong quarter with revenue growth exceeding our guidance. With healthy cashflows, improving profitability, and strong execution across markets, we are well-positioned to sustain growth. We maintain our FY26 revenue guidance of 7–9%, with potential upside as macro conditions improve and tariff concerns ease.”
ESG and Sustainability Initiatives
VGL reaffirmed its commitment to environmental, social, and governance (ESG) goals. The company has donated over 106 million meals through its “Your Purchase Feeds…” program, which provides a meal for every item sold.
Its ESG rating was recently upgraded to ‘73 – Strong’ by ICRA, and the company also received the Excellence in Manufacturing Award from the Indo-American Chamber of Commerce for expanding its U.S. operations responsibly.
About Vaibhav Global
Vaibhav Global Limited, listed on both BSE and NSE, operates TV home shopping and digital commerce platforms, reaching approximately 127 million households across markets. Its key channels include Shop LC (U.S.), Shop TJC (U.K.), and Shop LC (Germany).
Disclaimer: This article is for informational purposes only and should not be construed as financial or investment advice. Readers are encouraged to consult certified financial professionals before making investment decisions.
