Vaibhav Global Limited Earnings Summary — Q4 FY2026
Vaibhav Global Reports Substantial Growth in Q4 Net Profit Aided by Deferred Tax Credits and Operational Recovery
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue declined 1.9% sequentially in Q1 FY2027.
- Revenue of ₹917 Cr is 12.7% higher year-on-year.
- Revenue has compounded at 6.9% annualised over the last 10 quarters.
- Net profit of ₹56 Cr is 49.8% above the same quarter last year.
- Profit growth is outpacing revenue growth, pointing to positive operating leverage.
- Net profit has compounded at 53.7% annualised across the period.
- Operating margin stands at 10.6% in Q1 FY2027.
- Operating margin expanded by 299 bps year-on-year.
- Over the last two years operating margin has expanded by 300 bps.
- PBT margin is 7.7%.
- Expense growth of 9.1% remained below revenue growth of 12.7%.
- Operating profit of ₹97 Cr is 57.2% higher year-on-year.
- Operating leverage continues to improve.
- 6 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 71/100 (Strong) on the latest 10 quarters.
- Business momentum remains positive heading into the next quarter.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Stable | 917 | 935 | 1,066 | 877 | 814 | 850 | 977 | 796 | 756 | 789 |
| Expenses | Stable | 820 | 851 | 930 | 800 | 752 | 788 | 868 | 736 | 699 | 736 |
| Operating Profit | Improving | 97 | 83 | 136 | 78 | 62 | 62 | 110 | 60 | 57 | 53 |
| Operating Margin | Improving | 10.6% | 8.9% | 12.7% | 8.8% | 7.6% | 7.3% | 11.2% | 7.5% | 7.5% | 6.8% |
| Other Income | Volatile | 5 | 13 | 5 | 11 | 13 | 8 | 2 | 9 | 9 | 6 |
| Interest | Improving | 5 | 4 | 4 | 3 | 4 | 4 | 4 | 4 | 3 | 3 |
| Depreciation | Stable | 27 | 28 | 25 | 24 | 25 | 25 | 26 | 26 | 25 | 25 |
| Profit Before Tax | Volatile | 71 | 64 | 112 | 60 | 46 | 41 | 82 | 39 | 37 | 32 |
| Tax | Volatile | 14 | -27 | 22 | 13 | 8 | 7 | 18 | 12 | 10 | 11 |
| Net Profit | Volatile | 56 | 91 | 90 | 48 | 38 | 34 | 64 | 28 | 28 | 21 |
| Net Margin | Improving | 6.2% | 9.8% | 8.4% | 5.4% | 4.6% | 4.0% | 6.5% | 3.5% | 3.7% | 2.7% |
Key Takeaways
- Consolidated revenue grew 10% YoY to ₹93,471 lakhs, though it witnessed a seasonal decline of 12.3% on a quarter-on-quarter basis.
- Net profit surged by 167% YoY, significantly supported by a large deferred tax credit of ₹4,476 lakhs following the transition to a new tax regime.
- The Board recommended a final dividend of ₹1.50 per share, bringing the total dividend for FY26 to ₹6.00 per share.
- The USA segment remains the largest revenue contributor at ₹59,578 lakhs, while the UK and European segments faced individual profitability challenges this quarter.
- Significant exceptional items totaling ₹17.53 lakhs were noted, including a US government grant (ERC) offset by goodwill impairment in the Netherlands subsidiary (Mindful Souls).
- Operating margins came under pressure during the quarter due to higher cost of materials and increased content/broadcasting expenses.
- Net cash generated from operating activities for the full year improved significantly to ₹31,022 lakhs from ₹16,478 lakhs in the previous year.
Management Guidance
The company has elected to transition to the new tax regime effective April 1, 2026, which is expected to allow utilization of ₹6,691 lakhs in MAT credits against future tax liabilities.
Sentiment Shift
Improving
While operating margins remain volatile, the substantial bottom-line growth and successful resolution of long-standing tax surveys represent a significant clearing of legacy overhangs.
Outlook
The company is focused on its digital transformation and expanding its international footprint, specifically through its recent foray into the German market and stabilizing its core jewelry segments in the US and UK.
From the Annual Report (Key Quotes)
“The Company has recognized an incremental deferred tax asset of Rs. 4,670.93 lakhs with respect to MAT credit in the current year.”
“In previous quarter of the current financial year, all the proceedings related to the survey [Income Tax] have been concluded in the Company's favor.”
“Shop LC Global Inc. USA received a grant under the Employee Retention Credit (ERC) scheme... equivalent to Rs 2,450.81 lakhs.”
Official Quarterly Documents
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This summary is AI-generated from Vaibhav Global Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.