On August 1, 2024, Vaibhav Global Limited (VGL), which sells fashion jewellery, lifestyle products, apparel, and accessories through its own TV shopping channels and online platforms, revealed its financial results for the first quarter ending June 30, 2024.
In the first quarter of FY25, Vaibhav Global Limited (VGL) saw a 15% year-over-year increase in revenue and a 20% rise in sales volume. Digital sales now make up 40% of its business-to-consumer revenue.
Improved pricing, a better product mix, and efficient sourcing helped the company achieve a gross margin of 66.1%. The EBITDA margin was 8.7%, and net profit for the quarter was ₹27 crore. The company reported an ROCE of 17% and a return on equity (ROE) of 10%. It maintains a strong financial position with a net cash balance of ₹158 crore.
Vaibhav Global Limited had 6.4 lakh unique customers over the past 12 months, growing at a 13% annual rate over 5 years. New registrations and acquisitions reached 3.3 lakh. Its Ideal World division is profitable on a direct-cost basis. The company received the ‘IGJ Award’ from the Gems & Jewellery Export Promotion Council for being the top exporter of cut and polished coloured gemstones during FY23. Additionally, through its ‘Your Purchase Feeds…’ initiative, VGL has donated over 90 million meals since its start.
Commenting on the performance for Q1 FY25, Mr Sunil Agrawal, Managing Director, Vaibhav Global Limited, said, “In accordance with our stated guidance, we achieved a 15% year-over-year revenue growth. Improved realisations, favourable product mix and efficient sourcing, led to stronger gross margins. Our investments in digital initiatives and optimised G&A expenses support long-term value creation while maintaining profitability.”
Vaibhav Global Limited (VGL) is listed on Indian stock exchanges. VGL is an online retailer that sells fashion jewellery, accessories, and lifestyle products in developed markets. It reaches about 130 million households through its TV shopping channels: Shop LC in the US, Shop TJC and Ideal World in the UK, and Shop LC in Germany.
On August 02, 2024, Vaibhav Global Limited’s share price opened at ₹320.00, touching the day’s high at ₹330.80, as of 10:33 AM on the NSE.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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