Vaibhav Global Ltd

NSE: VAIBHAVGBL BSE: 532156Retail

Vaibhav Global Limited (VGL), through its distinctive business model, has created a niche for itself in the global retail space, especially in the jewellery, accessories and lifestyle product segments of two of the largest economies of the world - the US and UK. [1]

₹214

52W: ₹174 — ₹293

PE 24.4 · Book ₹43.9 · +387% vs book

Market Cap₹3,584 Cr

Stock P/E24.4Price to Earnings

ROCE21%Return on Capital

ROE22.1%Return on Equity

Div. Yield2.84%Face Value ₹2

Strengths

+Company has been maintaining a healthy dividend payout of 103%

Weaknesses

−The company has delivered a poor sales growth of 9.36% over past five years.
−Tax rate seems low
−Earnings include an other income of Rs.192 Cr.

Shareholding Pattern

Promoters57.43%

FIIs16.44%

DIIs2.23%

Public23.87%

Category	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Promoters	57.18%	57.3%▲0.1	57.3%	57.3%	57.19%▼0.1	57.18%▼0.0	57.11%▼0.1	57.43%▲0.3
FIIs	21.48%	19.2%▼2.3	18.37%▼0.8	18.59%▲0.2	18.52%▼0.1	18.68%▲0.2	18.06%▼0.6	16.44%▼1.6
DIIs	1.88%	0.73%▼1.1	0.74%▲0.0	0.85%▲0.1	0.91%▲0.1	1.24%▲0.3	1.67%▲0.4	2.23%▲0.6
Public	19.33%	22.62%▲3.3	23.46%▲0.8	23.14%▼0.3	23.26%▲0.1	22.86%▼0.4	23.11%▲0.3	23.87%▲0.8

Financial Statements

Metric	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	116	129	118	148	165	190	171	142	140	145
Expenses	113	126	116	136	155	177	169	137	130	134
Operating Profit	3	3	2	12	11	13	2	5	10	11
OPM %	3%	2%	2%	8%	6%	7%	1%	3%	7%	8%
Net Profit	21	3	20	11	54	37	83	9	67	38
EPS ₹	1.25	0.17	1.2	0.66	3.25	2.2	4.97	0.54	4.01	2.25

AI Insights

Revenue Trend

TTM revenue at ₹598Cr, down 11.3% YoY. OPM at 5%.

Debt Position

Borrowings at ₹122Cr. Debt-to-equity ratio: 0.17x. Healthy balance sheet.

Institutional Flow

DIIs: 2.23% (-4.01pp change). FIIs: 16.44% (-5.45pp change). Promoters hold 57.43%.

Margin & Efficiency

ROCE improving from 11% (Mar 2014) to 21% (Mar 2025). Working capital days: 112.

Valuation

PE 24.4x with 21% ROCE. Price is 387% above book value of ₹43.9. Dividend yield: 2.84%.