Vaibhav Global Q1 FY26: Revenue ₹814 cr, PAT ₹38 cr

What Vaibhav Global reported for Q1 FY26

Vaibhav Global Limited (VGL), an e-tailer focused on fashion jewellery, lifestyle products, apparels and accessories through home teleshopping channels and digital platforms, reported its Q1 FY26 performance for the quarter ended June 30, 2025. The company reported revenue of ₹814 crore for the quarter, supported by a stated year-on-year growth of about 8% from ₹756 crore. It also highlighted robust gross margin performance at 63.8% in the quarter. EBITDA margin was reported at 9.2%, improving by 50 basis points year-on-year.

Profit after tax (PAT) for Q1 FY26 was reported at ₹38 crore, showing a 37% year-on-year increase. The company also disclosed a net cash position of ₹174 crore for the quarter. Alongside the results, it recommended an interim dividend of ₹1.5 per equity share.

Quarterly financials table: QoQ and YoY view

The quarterly results table provided (figures in ₹ crore, except per share values) shows total revenue of ₹813.74 crore for the quarter labelled “Jun 25”, compared with ₹934.71 crore in “Mar 26” and ₹756.01 crore in “Jun 24”. On this table’s basis, revenue was shown down 4.24% quarter-on-quarter (QoQ) and up 7.64% year-on-year (YoY). Total operating expense was ₹777.49 crore for the quarter, against ₹879.04 crore in the preceding quarter and ₹723.80 crore in the year-ago quarter.

Operating income was ₹36.25 crore, compared with ₹55.67 crore in “Mar 26” and ₹32.20 crore in “Jun 24”. Net income was ₹37.63 crore for “Jun 25”, compared with ₹91.14 crore in “Mar 26” and ₹27.65 crore in “Jun 24”, as per the table. Diluted normalized EPS was reported at ₹2.24 for “Jun 25”, compared with ₹5.39 for “Mar 26” and ₹1.64 for “Jun 24”.

Cost structure and operating levers

The same quarterly table breaks out operating costs into other operating expenses and selling, general and administrative (SG&A) expenses. Other operating expenses were ₹326.18 crore for “Jun 25”, while SG&A was ₹149.01 crore. Depreciation and amortization stood at ₹25.29 crore.

While the table provides QoQ and YoY comparison columns, the key takeaway is that expenses remained the dominant part of the income statement given the company’s operating model. Total operating expense of ₹777.49 crore against revenue of ₹813.74 crore implies a thin operating spread before other items. Investors typically track how marketing, fulfilment and platform costs move as the business mix shifts between TV and digital channels.

Digital and television performance mix

Separate disclosed operating metrics in the provided data point to a mixed channel contribution. Digital revenue was stated at ₹423 crore, up 11.2% year-on-year, while television revenue was stated at ₹589 crore, up 7.7% year-on-year. The company also stated that digital now accounts for 43% of B2C revenue.

Another data point indicated in-house brand sales mix constituted 48% of B2C revenue. Such mix data matters because higher in-house brand contribution can influence gross margins and inventory efficiency. The company also flagged geography-level trends including U.S. revenue growth of 3% year-on-year, a U.K. revenue decline of 1.8%, and Germany revenue growth of 5.1%.

Guidance update: FY26 revenue growth revised

Management commentary included a revision to FY26 revenue growth guidance, cutting the range to 7-9%. The reason cited was the evolving macro environment and recent tariff developments, alongside shifts in consumer sentiment. This is an important input for forecasting because the company’s reported Q1 growth rate and margin profile are being assessed against a lower top-line growth expectation for the full year.

The company also stated confidence around Germany, noting improved year-on-year performance and an intent to achieve EBITDA profitability there in FY26. The update is relevant because international markets can have different customer acquisition and retention dynamics compared with India-led cost bases and fulfilment structures.

Dividend and corporate actions

Vaibhav Global recommended a dividend of ₹1.50 per equity share, with multiple references to ₹1.5 dividends across different dates in the provided dataset. A dividend table lists several instances of a ₹1.5 dividend, including an ex-date of June 25, 2026, and February 3, 2026, along with other historical dates.

Separately, the company announced its audited financial results for the quarter and year ended March 31, 2026, and noted that the Board approved convening the 37th AGM on August 4, 2026. A separate note also references “75% final dividend” for the financial year ended March 2026, in the same context as a ₹1.50 dividend amount per share.

Full-year FY26 numbers (year ended March 31, 2026)

For the full year ended March 31, 2026, total income was reported at ₹3,733.06 crore and profit after tax at ₹266.13 crore (converted from lakh figures provided). For the quarter ended March 31, 2026, total income was ₹947.25 crore and profit after tax was ₹91.14 crore.

These figures provide context for comparing quarterly volatility against the annual run-rate. They also frame dividend capacity discussions because investors often relate dividends to full-year profitability and cash generation.

Share price and trading indicators mentioned

The provided data includes multiple market snapshots across different dates. One entry states the share price moved up 11.27% from a previous close of ₹257.64 to a last traded price of ₹286.66, with VWAP shown at ₹284.80. Another quote shows ₹240.74 on NSE on June 24, 2026.

Dividend yield is referenced at 2.08% in one place, while the dividend event table shows dividend yield values of 2.49% alongside specific ex-dates and prices on those days. These are dataset values presented as-is and may vary by date, price, and method used.

Key numbers at a glance

What to watch next

The dataset includes a regulatory filing note that the Board meeting was scheduled for August 5, 2025 to consider and approve unaudited financial results for the quarter ended June 30, 2025, and to consider declaration of an interim dividend. It also states the trading window would remain closed until August 7, 2025, in line with SEBI (Prohibition of Insider Trading) Regulations.

From an investor tracking perspective, the focus typically remains on delivery against the revised FY26 growth guidance (7-9%), sustaining gross margin levels near the reported 63.8%, and monitoring the digital contribution as it scales. The AGM scheduled for August 4, 2026 is also a defined milestone for shareholders.