Vaibhav Global Limited Earnings Summary — Q4 FY2026

• 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.

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.

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.

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.