Vaibhav Global (VGL) is an omni-channel e-tailing player in fashion jewellery and lifestyle products. The company has delivered a great Q4 FY25, showing its operational resilience and digital shift. Notably, the company is backed by ace investor Vijay Kedia—who holds a 2.0% stake (33,75,000 shares worth INR 84 crore)—the company has continued its growth journey with strong financial and operational performance across markets.
Vaibhav Global Q4 FY25: Strong Finish
For the quarter ended 31 March 2025, Vaibhav Global reported a profit of INR 34.08 crore, up 62% YoY. Q4 Sales grew by 7.66% to INR 849.80 crore from INR 789.37 crore a year ago. This is in line with the management’s guided figure of INR 850 crore, up 8% YoY.
The EBITDA margin for Q4 was 8.3% and gross margin was 62.1%, showing better product mix and inventory efficiency. Germany operations achieved EBITDA breakeven, a big milestone in the company’s European expansion.
Vaibhav Global FY25 Results
On a full year basis, Vaibhav Global reported revenue of INR 3,380 crore, up 11.14% YoY from INR 3,040.96 crore in FY24. Net profit for the year grew 19.90% YoY to INR 153.36 crore due to cost savings, customer retention and increasing digital revenue.
Gross margin for FY25 improved 110 bps YoY to 63.1%, while EBITDA margin dipped 30 bps to 9.4% due to increased marketing and technology spends. But the company has a healthy balance sheet with net cash of INR 170 crore and ROCE and ROE of 19% and 12% respectively.
Operational & Strategic Highlights
- Customer Base: 7.1 lakh unique customers, up 21% YoY, with 4.1 lakh new customers added in the last 12 months.
- Customer Engagement: 22 pieces per customer; retention rate 44%.
- Digital Shift: Digital is now 41% of B2C revenue, Vaibhav is fully online first.
- Brand Focus: In-house brands are 32% of B2C revenue, helping in margin sustainability.
Outlook
Managing Director Sunil Agrawal said, “We are agile and have operating leverage. We are guiding 8-12% revenue growth in FY26 and there is scope for margin expansion in future years. Balance sheet is strong with net cash of INR 170 crore. Digital acceleration, geographic expansion and in-house brand penetration will drive growth.”
Investor Confidence
Ace investor Vijay Kedia continues to back Vaibhav Global—holds 2% stake—and that adds to the investors confidence. Kedia is known for identifying value stocks early and his association with the company is a long-term confidence in the company’s fundamentals and strategy.
Final Verdict
Vaibhav Global Q4 FY25 results underscore a compelling growth narrative powered by digital transformation, global expansion, and strong operational metrics. With continued investor backing and strategic clarity, the stock is firmly on the radar for long-term investors seeking a profitable play in the consumer retail-tech space.
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