Limited (VGL), a prominent player in the global E-tailing sector, has reported robust financial results for the second quarter of the fiscal year 2026, showcasing a significant growth trajectory. The company’s revenue surged by 10.2% year-on-year, reaching ₹877 crores, surpassing its own guidance, according to an exchange filing.
This growth is attributed to a strategic focus on an efficient product mix and disciplined pricing, which also led to an impressive 63.5% gross margin.
The company’s EBITDA saw a substantial increase of 28% year-on-year, with margins expanding by 130 basis points to 10%. This improvement was driven by productivity gains and operating leverage, as noted in the press release. The Profit After Tax (PAT) for the quarter stood at ₹48 crores, marking a remarkable 71% increase from the previous year.
VGL’s balance sheet remains robust, with a net cash position of ₹156 crores, reflecting the company’s strong financial health. The (ROCE) was reported at 20%, while the return on equity (ROE) was at 13%, indicating efficient use of capital and shareholder equity. The digital revenue mix accounted for 42% of the B2C revenue, highlighting the company’s successful digital transformation efforts.
The company’s in-house brands contributed 41% of the gross B2C revenue, up from 31% in the same quarter of the previous fiscal year. The company also reported an all-time high of 7.14 lakh unique customers on a trailing twelve-month basis, a 5% increase year-on-year, with 3.8 lakh new customer acquisitions during the same period.
Commenting on the quarterly performance, Sunil Agrawal, Managing Director of Vaibhav Global Limited, expressed satisfaction with the results, stating that the company is well-positioned to sustain growth.
“We are pleased to report a strong quarter with revenue growth exceeding our guidance. Revenue was at ₹877 crores, up 10.2% YoY. EBITDA margin improved by 130 basis points to 10%, up 28% in absolute terms. This was driven by productivity gains and operating leverage. Profits after tax rose 71% YoY to ₹48 crores. Execution remained strong across regions. With a strong balance sheet, healthy cashflows, and improving profitability, we are well-positioned to sustain growth. We maintain our FY26 guidance of 7-9%, with potential upside as macro conditions improve and tariff concerns ease.”
ESG Efforts
VGL’s commitment to environmental, social, and governance (ESG) initiatives is evident in its recent achievements. The company has donated over 106 million meals through its ‘your purchase feeds…’ program, which provides a meal for every piece sold at its retail channels. Additionally, VGL’s ESG rating was upgraded to a score of ’73’ (Strong) by ICRA, and the company received the Excellence in Manufacturing Award from the Indo-American Chamber of Commerce, recognising its efforts in scaling operations in the US.
Vaibhav Global Limited, listed on the BSE and NSE, operates as an omni-channel E-tailer of fashion jewellery, accessories, and lifestyle products in developed markets. The company reaches approximately 127 million households through its TV home shopping networks, including Shop LC in the US, Shop TJC and Ideal World in the UK, and Shop LC in Germany.
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