Vaibhav Global (VAIBHAVGBL)₹165.62+1.32%Gems, Jewellery And Watches
In the Sep 2026 quarter (consolidated), Vaibhav Global reported sales of ₹936 Cr, up 6.9% from Sep 2025, and net profit of ₹42.02 Cr, down 12.5% year on year. For the year to Mar 2026, sales were ₹3,683 Cr and net profit ₹266 Cr.
Company filings, consolidated accounts; latest reported quarter Sep 2026
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 886 | 787 | 754 | 794 | 975 | 849 | 813 | 876 | 1,064 | 933 | 915 | 936 |
| Expenses | 794 | 735 | 698 | 736 | 868 | 788 | 751 | 800 | 929 | 850 | 820 | 869 |
| Operating Profit | 92.87 | 52.95 | 56.97 | 59.92 | 110 | 61.98 | 61.92 | 77.86 | 136 | 82.88 | 96.92 | 67.89 |
| OPM % | 11.0% | 7.0% | 8.0% | 8.0% | 11.0% | 7.0% | 8.0% | 9.0% | 13.0% | 9.0% | 11.0% | 7.0% |
| Other Income | 2.01 | 6.01 | 9.01 | 9.03 | 2.01 | 8.01 | 13.03 | 11.02 | 5.01 | 13.03 | 5.01 | 8.01 |
| Interest | 2.99 | 2.99 | 2.99 | 3.98 | 3.99 | 3.99 | 3.99 | 2.99 | 3.98 | 3.99 | 4.98 | 4.98 |
| Depreciation | 23.09 | 25.11 | 25.09 | 26.11 | 26.12 | 25.11 | 25.12 | 24.08 | 25.09 | 28.11 | 27.09 | 27.09 |
| Profit before tax | 68.17 | 32.08 | 37.10 | 39.08 | 82.25 | 41.12 | 46.14 | 60.13 | 112 | 64.22 | 71.19 | 44.14 |
| Tax % | 31.0% | 33.0% | 27.0% | 29.0% | 22.0% | 17.0% | 18.0% | 21.0% | 20.0% | −43.0% | 20.0% | 6.0% |
| Exceptional items | −2.70 | −2.77 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.14 | 0.00 | 0.00 |
| Net Profit | 47.01 | 21.02 | 27.03 | 28.02 | 64.08 | 34.03 | 38.01 | 48.04 | 90.02 | 91.05 | 56.01 | 42.02 |
| EPS (Rs) | 2.86 | 1.28 | 1.66 | 1.66 | 3.83 | 2.04 | 2.25 | 2.84 | 5.37 | 5.45 | 3.36 | 2.48 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,274 | 1,436 | 1,568 | 1,812 | 1,983 | 2,533 | 2,746 | 2,685 | 3,033 | 3,376 | 3,683 | 3,847 |
| Expenses | 1,216 | 1,351 | 1,419 | 1,611 | 1,724 | 2,166 | 2,467 | 2,489 | 2,769 | 3,089 | 3,328 | 3,468 |
| Operating Profit | 57.93 | 85.87 | 148 | 203 | 262 | 370 | 281 | 200 | 269 | 290 | 360 | 384 |
| OPM % | 4.6% | 6.0% | 8.9% | 10.9% | 13.0% | 15.0% | 10.0% | 7.0% | 9.0% | 8.9% | 10.0% | 10.0% |
| Other Income | 17.04 | 16.05 | 10.02 | 14.03 | 14.03 | 18.05 | 50.11 | 28.05 | 19.04 | 27.04 | 39.08 | 31.06 |
| Interest | 6.97 | 5.97 | 3.99 | 4.98 | 8.96 | 4.98 | 5.98 | 7.97 | 11.95 | 14.95 | 14.95 | 17.93 |
| Depreciation | 24.11 | 29.12 | 25.11 | 25.09 | 31.12 | 39.15 | 55.23 | 78.32 | 93.41 | 102 | 103 | 107 |
| Profit before tax | 45.15 | 66.20 | 129 | 189 | 237 | 345 | 272 | 141 | 182 | 201 | 283 | 292 |
| Tax % | 11.0% | 2.0% | 13.0% | 18.0% | 20.0% | 21.0% | 12.0% | 26.0% | 30.0% | 24.0% | 6.0% | — |
| Exceptional items | 1.01 | 0.00 | 1.01 | 3.01 | 1.01 | 0.00 | 24.04 | 0.00 | −6.01 | 1.01 | −2.01 | 0.14 |
| Net Profit | 40.01 | 65.10 | 112 | 154 | 190 | 272 | 237 | 105 | 127 | 153 | 266 | 279 |
| EPS (Rs) | 2.44 | 3.96 | 6.89 | 9.42 | 11.75 | 16.67 | 14.47 | 6.34 | 7.71 | 9.20 | 15.89 | 16.66 |
| Dividend payout % | 0.0% | 0.0% | 0.0% | 21.1% | 57.1% | 30.0% | 41.0% | 94.1% | 78.0% | 65.0% | 38.1% | — |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 32.07 | 32.03 | 33.08 | 33.10 | 33.04 | 32.08 | 33.06 | 33.03 | 33.08 | 33.05 | 33.12 | 33.06 |
| Reserves | 296 | 335 | 402 | 518 | 664 | 719 | 931 | 1,093 | 1,167 | 1,225 | 1,317 | 1,615 |
| Borrowings | 76.13 | 112 | 85.08 | 67.08 | 66.03 | 102 | 124 | 165 | 193 | 218 | 229 | 417 |
| Other Liabilities | 125 | 139 | 156 | 145 | 178 | 237 | 306 | 392 | 390 | 403 | 454 | 479 |
| Total Liabilities | 529 | 618 | 676 | 762 | 941 | 1,090 | 1,394 | 1,683 | 1,783 | 1,879 | 2,032 | 2,542 |
| Fixed Assets | 75.87 | 126 | 126 | 120 | 116 | 154 | 163 | 466 | 506 | 614 | 565 | 697 |
| CWIP | 1.01 | 3.01 | 0.00 | 0.00 | 1.01 | 9.01 | 29.03 | 27.04 | 5.01 | 6.01 | 11.01 | 26.01 |
| Investments | 3.01 | 4.01 | 5.01 | 12.01 | 18.01 | 82.04 | 280 | 84.05 | 34.02 | 128 | 116 | 18.99 |
| Other Assets | 450 | 487 | 545 | 632 | 806 | 847 | 922 | 1,106 | 1,239 | 1,131 | 1,341 | 1,801 |
| Inventories | 228 | 297 | 304 | 352 | 396 | 420 | 446 | 619 | 643 | 596 | 701 | 811 |
| Trade receivables | 48.17 | 66.18 | 96.22 | 129 | 118 | 135 | 168 | 233 | 241 | 314 | 325 | 341 |
| Cash & equivalents | 95.71 | 55.90 | 74.83 | 66.86 | 226 | 174 | 188 | 107 | 238 | 105 | 129 | 370 |
| Total Assets | 529 | 618 | 676 | 762 | 941 | 1,090 | 1,394 | 1,683 | 1,783 | 1,879 | 2,032 | 2,542 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 115 | −24.93 | 73.84 | 40.91 | 203 | 214 | 325 | 87.78 | 127 | 276 | 165 | 309 |
| Cash from investing activity | −2.99 | −41.90 | −25.93 | −22.92 | −21.92 | −183 | −266 | −44.87 | 42.85 | −182 | −4.98 | 80.78 |
| Cash from financing activity | −64.21 | 30.11 | −30.09 | −24.06 | −23.08 | −185 | −57.20 | −72.23 | −103 | −144 | −130 | −149 |
| Net cash flow | 49.06 | −37.07 | 19.02 | −6.01 | 159 | −155 | 1.01 | −29.06 | 68.06 | −49.05 | 30.04 | 243 |
| Capex | 23.01 | 49.04 | 19.02 | 18.01 | 22.02 | 29.99 | 56.99 | 301 | 36.01 | 44.02 | 35.01 | 33.01 |
| Free cash flow | 92.35 | −72.28 | 55.22 | 23.07 | 185 | 185 | 270 | −214 | 92.28 | 234 | 135 | 291 |
| CFO / OP % | 99.1% | −12.0% | 100.1% | 38.1% | 111.1% | 98.1% | 104.1% | 56.1% | 80.1% | 120.1% | 75.1% | 110.0% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor days | 13 | 19 | 24 | 30 | 24 | 25 | 24 | 31 | 33 | 38 | 35 | 34 |
| Inventory days | 187 | 277 | 221 | 227 | 239 | 220 | 180 | 231 | 238 | 202 | 219 | 232 |
| Days payable | 61 | 99 | 83 | 66 | 74 | 75 | 65 | 104 | 95 | 76 | 73 | 77 |
| Cash conversion cycle | 140 | 198 | 163 | 192 | 190 | 171 | 140 | 159 | 177 | 165 | 182 | 190 |
| Working capital days | 31 | 45 | 49 | 72 | 62 | 59 | 42 | 58 | 59 | 55 | 60 | 68 |
| ROCE % | 34.9% | 11.0% | 14.9% | 23.0% | 27.0% | 30.0% | 35.9% | 21.0% | 11.0% | 13.9% | 14.0% | 15.9% |
For the Sep 2026 quarter, Vaibhav Global reported sales of ₹936 Cr, up 6.9% year on year and net profit of ₹42.02 Cr, down 12.5% year on year. The operating margin was 7.0%.
Vaibhav Global's sales for the year to Mar 2026 were ₹3,683 Cr; over the last twelve months they were ₹3,847 Cr.
Net profit for the year to Mar 2026 was ₹266 Cr, and ₹279 Cr over the last twelve months. Earnings per share over the same trailing period were ₹16.66.
Vaibhav Global reported borrowings of ₹417 Cr at Mar 2026, against cash and equivalents of ₹370 Cr.
Cash from operations was ₹309 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹291 Cr.