The global fashion jewellery and lifestyle e-tailer posted a 10.2% year-on-year (YoY) rise in revenue to Rs 877 crore in Q2 FY26, surpassing its own guidance. Profit after tax (PAT) jumped 71% YoY to Rs 48 crore, up from Rs 28 crore in Q2 FY25, supported by operating leverage and disciplined cost management. EBITDA grew 28% YoY, with margins expanding by 130 basis points to 10%.
Gross margin stood at a healthy 63.5%, aided by an efficient product mix and pricing strategy. The company maintained a strong balance sheet with a net cash position of Rs 156 crore, while return ratios remained robust, ROCE at 20% and ROE at 13%.
Digital platforms continued to gain traction, contributing 42% of B2C revenue, highlighting the success of VGL’s omnichannel strategy. In-house brands formed 41% of gross B2C revenue, up sharply from 31% in the same quarter last year — a sign of rising brand equity and customer loyalty.
Operationally, VGL recorded an all-time high of 7.14 lakh unique customers on a trailing twelve-month basis, up 5% YoY. The company acquired 3.8 lakh new customers during the period, while customer retention remained steady at 41%. Repeat purchases averaged 22 pieces per customer, underscoring strong engagement and satisfaction levels.
Commenting on the results, Sunil Agrawal, Managing Director of Vaibhav Global, said:“We are pleased to report a strong quarter with revenue growth exceeding our guidance. EBITDA margin improved by 130 basis points to 10%, driven by productivity gains and operating leverage. With a strong balance sheet, healthy cash flows, and improving profitability, we are well-positioned to sustain growth.”He added that the company has maintained its FY26 revenue growth guidance of 7–9%, with potential upside as macro conditions improve and tariff concerns ease.
At around 12:25 pm, shares of the company were trading at Rs 287, up 11.55% from the previous close on the NSE. Vaibhav Global shares have gained nearly 30% in the past month.
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