Buy Or Sell Opportunity • Jul 09
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 18% to ₹256. The fair value is estimated to be ₹205, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 26%. Upcoming Dividend • Jun 18
Upcoming dividend of ₹1.50 per share Eligible shareholders must have bought the stock before 25 June 2026. Payment date: 03 September 2026. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 2.4%. Within top quartile of Indian dividend payers (1.5%). Higher than average of industry peers (0.6%). Buy Or Sell Opportunity • Jun 17
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 22% to ₹249. The fair value is estimated to be ₹206, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 26%. Declared Dividend • May 25
Fourth quarter dividend of ₹1.50 announced Dividend of ₹1.50 is the same as last year. Ex-date: 25th June 2026 Payment date: 3rd September 2026 Dividend yield will be 2.7%, which is higher than the industry average of 0.4%. Sustainability & Growth Dividend is well covered by both earnings (48% earnings payout ratio) and cash flows (36% cash payout ratio). The dividend has increased by an average of 15% per year over the past 8 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 47% to shift the payout ratio to a potentially unsustainable range, which is more than the 1.0% EPS decline seen over the last 5 years. Reported Earnings • May 23
Full year 2026 earnings released: EPS: ₹15.97 (vs ₹9.25 in FY 2025) Full year 2026 results: EPS: ₹15.97 (up from ₹9.25 in FY 2025). Revenue: ₹37.3b (up 11% from FY 2025). Net income: ₹2.66b (up 74% from FY 2025). Profit margin: 7.1% (up from 4.5% in FY 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Duyuru • May 22
Vaibhav Global Limited, Annual General Meeting, Aug 04, 2026 Vaibhav Global Limited, Annual General Meeting, Aug 04, 2026. Duyuru • May 07
Vaibhav Global Limited to Report Q4, 2026 Results on May 21, 2026 Vaibhav Global Limited announced that they will report Q4, 2026 results on May 21, 2026 Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹217, the stock trades at a trailing P/E ratio of 17.4x. Average trailing P/E is 17x in the Luxury industry in India. Total loss to shareholders of 25% over the past three years. New Risk • Apr 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 14% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.0% average weekly change). Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹259, the stock trades at a trailing P/E ratio of 20.7x. Average trailing P/E is 18x in the Luxury industry in India. Total loss to shareholders of 12% over the past three years. Declared Dividend • Jan 30
Third quarter dividend of ₹1.50 announced Dividend of ₹1.50 is the same as last year. Ex-date: 3rd February 2026 Payment date: 26th February 2026 Dividend yield will be 2.7%, which is higher than the industry average of 0.4%. Sustainability & Growth Dividend is covered by both earnings (48% earnings payout ratio) and cash flows (57% cash payout ratio). The dividend has increased by an average of 17% per year over the past 7 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 47% to shift the payout ratio to a potentially unsustainable range, which is more than the 4.5% EPS decline seen over the last 5 years. Reported Earnings • Jan 28
Third quarter 2026 earnings released: EPS: ₹5.39 (vs ₹3.85 in 3Q 2025) Third quarter 2026 results: EPS: ₹5.39 (up from ₹3.85 in 3Q 2025). Revenue: ₹10.7b (up 9.6% from 3Q 2025). Net income: ₹898.0m (up 41% from 3Q 2025). Profit margin: 8.4% (up from 6.5% in 3Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Duyuru • Jan 12
Vaibhav Global Limited to Report Q3, 2026 Results on Jan 27, 2026 Vaibhav Global Limited announced that they will report Q3, 2026 results on Jan 27, 2026 Declared Dividend • Nov 01
Second quarter dividend of ₹1.50 announced Dividend of ₹1.50 is the same as last year. Ex-date: 6th November 2025 Payment date: 28th November 2025 Dividend yield will be 2.2%, which is higher than the industry average of 0.4%. Sustainability & Growth Dividend is covered by both earnings (27% earnings payout ratio) and cash flows (57% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 70% to shift the payout ratio to a potentially unsustainable range, which is more than the 5.0% EPS decline seen over the last 5 years. Reported Earnings • Oct 30
Second quarter 2026 earnings released: EPS: ₹2.85 (vs ₹1.68 in 2Q 2025) Second quarter 2026 results: EPS: ₹2.85 (up from ₹1.68 in 2Q 2025). Revenue: ₹8.88b (up 12% from 2Q 2025). Net income: ₹475.5m (up 71% from 2Q 2025). Profit margin: 5.4% (up from 3.5% in 2Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Duyuru • Oct 13
Vaibhav Global Limited to Report Q2, 2026 Results on Oct 29, 2025 Vaibhav Global Limited announced that they will report Q2, 2026 results on Oct 29, 2025 Duyuru • Jul 22
Vaibhav Global Limited to Report Q1, 2026 Results on Aug 05, 2025 Vaibhav Global Limited announced that they will report Q1, 2026 results on Aug 05, 2025 Reported Earnings • Jul 15
Full year 2025 earnings released: EPS: ₹9.25 (vs ₹7.74 in FY 2024) Full year 2025 results: EPS: ₹9.25 (up from ₹7.74 in FY 2024). Revenue: ₹33.8b (up 11% from FY 2024). Net income: ₹1.53b (up 20% from FY 2024). Profit margin: 4.5% (up from 4.2% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 8% per year. Upcoming Dividend • Jun 20
Upcoming dividend of ₹1.50 per share Eligible shareholders must have bought the stock before 27 June 2025. Payment date: 04 September 2025. Payout ratio is a comfortable 65% and the cash payout ratio is 77%. Trailing yield: 2.6%. Within top quartile of Indian dividend payers (1.2%). Higher than average of industry peers (0.6%). Declared Dividend • May 24
Fourth quarter dividend of ₹1.50 announced Dividend of ₹1.50 is the same as last year. Ex-date: 27th June 2025 Payment date: 4th September 2025 Dividend yield will be 2.5%, which is higher than the industry average of 0.4%. Sustainability & Growth Dividend is covered by both earnings (71% earnings payout ratio) and cash flows (77% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 22% to shift the payout ratio to a potentially unsustainable range, which is more than the 4.7% EPS decline seen over the last 5 years. Duyuru • May 22
Vaibhav Global Limited, Annual General Meeting, Aug 05, 2025 Vaibhav Global Limited, Annual General Meeting, Aug 05, 2025. Reported Earnings • May 22
Full year 2025 earnings released: EPS: ₹9.25 (vs ₹7.74 in FY 2024) Full year 2025 results: EPS: ₹9.25 (up from ₹7.74 in FY 2024). Revenue: ₹34.1b (up 12% from FY 2024). Net income: ₹1.53b (up 20% from FY 2024). Profit margin: 4.5% (up from 4.2% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year and the company’s share price has also fallen by 9% per year. Duyuru • May 10
Vaibhav Global Limited to Report Q4, 2025 Results on May 21, 2025 Vaibhav Global Limited announced that they will report Q4, 2025 results on May 21, 2025 Reported Earnings • Jan 30
Third quarter 2025 earnings released: EPS: ₹3.85 (vs ₹2.87 in 3Q 2024) Third quarter 2025 results: EPS: ₹3.85 (up from ₹2.87 in 3Q 2024). Revenue: ₹9.80b (up 10% from 3Q 2024). Net income: ₹638.2m (up 35% from 3Q 2024). Profit margin: 6.5% (up from 5.3% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Duyuru • Jan 20
Omshree Gulab Tex Private Limited entered into a share purchase agreement to acquire Vaibhav Vistar Limited from Vaibhav Global Limited (NSEI:VAIBHAVGBL) for INR 85 million. Omshree Gulab Tex Private Limited entered into a share purchase agreement to acquire Vaibhav Vistar Limited from Vaibhav Global Limited (NSEI:VAIBHAVGBL) for INR 85 million on January 18, 2025. A cash consideration of INR 85 million will be paid by Omshree Gulab Tex Private Limited. As part of consideration, INR 85 million is paid towards common equity of Vaibhav Vistar Limited. In related transaction, the Board of Directors of Vaibhav Lifestyle Limited and Vaibhav Vistar Limited have decided to call off the proposed merger.
The expected completion of the transaction is March 31, 2025. Duyuru • Jan 10
Vaibhav Global Limited to Report Q3, 2025 Results on Jan 29, 2025 Vaibhav Global Limited announced that they will report Q3, 2025 results on Jan 29, 2025 Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹280, the stock trades at a trailing P/E ratio of 37.3x. Average trailing P/E is 29x in the Luxury industry in India. Total loss to shareholders of 49% over the past three years. Declared Dividend • Nov 13
Second quarter dividend of ₹1.50 announced Dividend of ₹1.50 is the same as last year. Ex-date: 20th November 2024 Payment date: 11th December 2024 Dividend yield will be 2.2%, which is higher than the industry average of 0.4%. Sustainability & Growth Dividend is covered by both earnings (40% earnings payout ratio) and cash flows (53% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 56% to shift the payout ratio to a potentially unsustainable range, which is more than the 6.4% EPS decline seen over the last 5 years. Reported Earnings • Nov 12
Second quarter 2025 earnings released: EPS: ₹1.68 (vs ₹1.78 in 2Q 2024) Second quarter 2025 results: EPS: ₹1.68 (down from ₹1.78 in 2Q 2024). Revenue: ₹8.05b (up 14% from 2Q 2024). Net income: ₹278.0m (down 5.3% from 2Q 2024). Profit margin: 3.5% (down from 4.2% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Duyuru • Oct 17
Vaibhav Global Limited to Report Q2, 2025 Results on Nov 11, 2024 Vaibhav Global Limited announced that they will report Q2, 2025 results on Nov 11, 2024 Board Change • Oct 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 4 highly experienced directors. Non Executive Independent Director Retailgeek Goldberg was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • Aug 05
First quarter dividend of ₹1.50 announced Dividend of ₹1.50 is the same as last year. Ex-date: 9th August 2024 Payment date: 31st August 2024 Dividend yield will be 1.8%, which is higher than the industry average of 0.4%. Sustainability & Growth Dividend is covered by both earnings (79% earnings payout ratio) and cash flows (43% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 12% to shift the payout ratio to a potentially unsustainable range, which is more than the 5.0% EPS decline seen over the last 5 years. Reported Earnings • Jul 16
Full year 2024 earnings released: EPS: ₹7.74 (vs ₹6.39 in FY 2023) Full year 2024 results: EPS: ₹7.74 (up from ₹6.39 in FY 2023). Revenue: ₹30.4b (up 13% from FY 2023). Net income: ₹1.28b (up 22% from FY 2023). Profit margin: 4.2% (up from 3.9% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. Duyuru • Jul 11
Vaibhav Global Limited to Report Q1, 2025 Results on Aug 01, 2024 Vaibhav Global Limited announced that they will report Q1, 2025 results on Aug 01, 2024 Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to ₹277, the stock trades at a trailing P/E ratio of 36x. Average trailing P/E is 26x in the Luxury industry in India. Total loss to shareholders of 64% over the past three years. Declared Dividend • May 25
Fourth quarter dividend of ₹1.50 announced Dividend of ₹1.50 is the same as last year. Ex-date: 28th June 2024 Payment date: 31st August 2024 Dividend yield will be 1.6%, which is higher than the industry average of 0.4%. Sustainability & Growth Dividend is covered by both earnings (76% earnings payout ratio) and cash flows (43% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 15% to shift the payout ratio to a potentially unsustainable range, which is more than the 3.9% EPS decline seen over the last 5 years. Duyuru • May 25
Vaibhav Global Limited, Annual General Meeting, Aug 01, 2024 Vaibhav Global Limited, Annual General Meeting, Aug 01, 2024. Reported Earnings • May 24
Full year 2024 earnings released: EPS: ₹7.74 (vs ₹6.39 in FY 2023) Full year 2024 results: EPS: ₹7.74 (up from ₹6.39 in FY 2023). Revenue: ₹30.7b (up 14% from FY 2023). Net income: ₹1.28b (up 22% from FY 2023). Profit margin: 4.2% (up from 3.9% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. Duyuru • May 24
Vaibhav Global Limited Recommends Final Dividend for the Financial Year Ended March 31, 2024 The Board of Directors of Vaibhav Global Limited at its meeting held on 23rd May, 2024. Recommended the Final Dividend of INR 1.50/- per Equity Share (on the face value of INR 2/- per Equity Share) for the financial year ended 31st March, 2024, subject to the approval/declaration by the shareholders at the ensuing Annual General Meeting (AGM) of the Company. The above dividend, if approved/declared by the shareholders at the ensuing AGM will be credited/dispatched within 30 days from the date of the AGM. The register of members and share transfer books of the Company shall be closed on 29th June, 2024 (Book Closure Date) for the purpose of Annual General Meeting and Payment of Final Dividend. Duyuru • May 08
Vaibhav Global Limited to Report Q4, 2024 Results on May 23, 2024 Vaibhav Global Limited announced that they will report Q4, 2024 results on May 23, 2024 Duyuru • Feb 07
Vaibhav Global Limited Announces Cessation of James Patrick Clarke as Independent Director Vaibhav Global Limited announced that Mr. James Patrick Clarke, has completed his second and final term as an Independent Director and consequently ceased to be a Director of the Company on 6th February, 2024. Reported Earnings • Feb 01
Third quarter 2024 earnings released: EPS: ₹2.87 (vs ₹2.37 in 3Q 2023) Third quarter 2024 results: EPS: ₹2.87 (up from ₹2.37 in 3Q 2023). Revenue: ₹8.88b (up 23% from 3Q 2023). Net income: ₹474.3m (up 22% from 3Q 2023). Profit margin: 5.3% (down from 5.4% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jan 18
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹488, the stock trades at a trailing P/E ratio of 66.3x. Average trailing P/E is 29x in the Luxury industry in India. Total loss to shareholders of 2.9% over the past three years. Duyuru • Dec 28
Vaibhav Global Limited to Report Q3, 2024 Results on Jan 30, 2024 Vaibhav Global Limited announced that they will report Q3, 2024 results on Jan 30, 2024 Reported Earnings • Oct 31
Second quarter 2024 earnings released: EPS: ₹1.78 (vs ₹1.40 in 2Q 2023) Second quarter 2024 results: EPS: ₹1.78 (up from ₹1.40 in 2Q 2023). Revenue: ₹7.08b (up 9.2% from 2Q 2023). Net income: ₹293.7m (up 28% from 2Q 2023). Profit margin: 4.1% (up from 3.5% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Duyuru • Oct 18
Vaibhav Global Limited Announces Appointment of Mr. Jason Charles Goldberg as an Non Executive Independent Director Vaibhav Global Limited announced the appointment of Mr. Jason Charles Goldberg as an Non Executive Independent Director . Mr. Jason Charles Goldberg appointed as an Additional Director under the category of NonExecutive Independent Director of the Company, to hold office for a first term of two years commencing from 17th October, 2023 to 16th October, 2025, subject to the approval of shareholders, whose office shall not be liable to retire by rotation. Jason Charles Goldberg, age 56 years, is the Chief Commerce Strategy Officer at Publicis Groupe and Lead all thought leadership and subject matter expertise in digital commerce and shopper marketing for Publicis Worldwide, including developing the firms POVs on digital marketing tactics relevant to ecommerce and retail clients. Jason is a 4th generation retailer, who has been helping brands and retailers respond to digital disruption for 30 years. With a focus on ecommerce and digital marketing for omnichannel retailers, he has worked with over 100 clients on the Internet Top 500 and has been responsible for billions of dollars in online revenues. Under his twitter feed retailgeek, he is one of the most followed ecommerce subject matter experts on the web. He is the executive chairman of the board of directors of shop.org (National Retail Federation Digital Advisory Board). Jason has served as an expert witness in Federal Court on ecommerce, a guest lecturer on retail and ecommerce at the Kellogg School of Management for Northwestern University, hosts iTunes top ecommerce podcast called "The Jason & Scot Show", and has been voted one of retail's top global influencers by Vend five consecutive years. He's a Forbes contributor, Retailwire Braintrust, and Path to Purchase Institute faculty. In 2017, he was inducted into the National Retail Federation "The List" of people shaping the future of retail. He is B.S. in Information and Computer Science from University of California. Duyuru • Sep 28
Vaibhav Global Limited to Report Q2, 2024 Results on Oct 30, 2023 Vaibhav Global Limited announced that they will report Q2, 2024 results on Oct 30, 2023 Reported Earnings • Jul 14
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: ₹6.39 (down from ₹14.56 in FY 2022). Revenue: ₹26.9b (down 2.2% from FY 2022). Net income: ₹1.05b (down 56% from FY 2022). Profit margin: 3.9% (down from 8.6% in FY 2022). The decrease in margin was primarily driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 11%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Luxury industry in India. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Duyuru • Jul 12
Vaibhav Global Limited Recommends Final Dividend for the Financial Year Ended 31 March, 2023 Vaibhav Global Limited proposed to declare a final dividend of INR 1.50 per equity share (@75%) for the year ended 31 March 2023 and to confirm 1st interim dividend of INR 1.50 per equity share (@75%), 2nd interim dividend of INR 1.50 per equity share (@75%) and 3rd interim dividend of INR 1.50 per equity share (@75%), already paid during the year 2022-23. Upcoming Dividend • Jun 23
Upcoming dividend of ₹1.50 per share at 2.0% yield Eligible shareholders must have bought the stock before 30 June 2023. Payment date: 01 September 2023. Payout ratio is on the higher end at 94%, and the cash payout ratio is above 100%. Trailing yield: 2.0%. Within top quartile of Indian dividend payers (1.5%). Higher than average of industry peers (0.5%). Duyuru • May 19
Vaibhav Global Limited, Annual General Meeting, Aug 02, 2023 Vaibhav Global Limited, Annual General Meeting, Aug 02, 2023. Agenda: To consider final dividend for the financial year ended 31 March, 2023. Duyuru • May 18
Vaibhav Global Limited Recommends Final Dividend for the Financial Year Ended 31st March, 2023 Vaibhav Global Limited recommended the Final Dividend of INR 1.50 per Equity Share (on the face value of INR 2 per Equity Share) for the financial year ended 31st March, 2023, subject to the approval/declaration by the shareholders at the upcoming Annual General Meeting (AGM) of the Company. The above dividend, if approved/declared by the shareholders at the upcoming AGM will be credited/dispatched within 30 days from the date of the AGM. Reported Earnings • May 18
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: ₹6.29 (down from ₹14.56 in FY 2022). Revenue: ₹27.2b (down 1.6% from FY 2022). Net income: ₹1.05b (down 56% from FY 2022). Profit margin: 3.9% (down from 8.6% in FY 2022). The decrease in margin was primarily driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 11%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Luxury industry in India. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Duyuru • May 05
Vaibhav Global Limited to Report Q4, 2023 Results on May 17, 2023 Vaibhav Global Limited announced that they will report Q4, 2023 results on May 17, 2023 Duyuru • Jan 25
Vaibhav Global Limited Recommends the Third Interim Dividend for the Financial Year 2022-23 Vaibhav Global Limited recommended the third interim dividend of INR 1.50 per Equity Share for the financial year 2022-23 at the board meeting held on January 24, 2023. Reported Earnings • Jan 25
Third quarter 2023 earnings released: EPS: ₹2.37 (vs ₹4.26 in 3Q 2022) Third quarter 2023 results: EPS: ₹2.37 (down from ₹4.26 in 3Q 2022). Revenue: ₹7.38b (down 1.7% from 3Q 2022). Net income: ₹389.1m (down 44% from 3Q 2022). Profit margin: 5.3% (down from 9.3% in 3Q 2022). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Luxury industry in India. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Duyuru • Jan 12
Vaibhav Global Limited to Report Q3, 2023 Results on Jan 24, 2023 Vaibhav Global Limited announced that they will report Q3, 2023 results on Jan 24, 2023 Price Target Changed • Nov 16
Price target decreased to ₹679 Down from ₹929, the current price target is provided by 1 analyst. New target price is 108% above last closing price of ₹327. Stock is down 44% over the past year. The company is forecast to post earnings per share of ₹10.40 for next year compared to ₹14.56 last year. Reported Earnings • Oct 31
Second quarter 2023 earnings released: EPS: ₹1.40 (vs ₹2.57 in 2Q 2022) Second quarter 2023 results: EPS: ₹1.40 (down from ₹2.57 in 2Q 2022). Revenue: ₹6.48b (up 1.2% from 2Q 2022). Net income: ₹229.3m (down 46% from 2Q 2022). Profit margin: 3.5% (down from 6.6% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Luxury industry in India. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Oct 29
Consensus EPS estimates fall by 10% The consensus outlook for earnings per share (EPS) in 2023 has deteriorated. 2023 revenue forecast decreased from ₹29.6b to ₹28.2b. EPS estimate also fell from ₹11.60 per share to ₹10.40 per share. Net income forecast to grow 20% next year vs 14% growth forecast for Luxury industry in India. Consensus price target of ₹782 unchanged from last update. Share price rose 4.4% to ₹356 over the past week. Duyuru • Oct 13
Vaibhav Global Limited to Report Q2, 2023 Results on Oct 27, 2022 Vaibhav Global Limited announced that they will report Q2, 2023 results on Oct 27, 2022 Duyuru • Aug 04
Vaibhav Global Limited Provides Revenue Guidance for the Year 2023 Vaibhav Global Limited announced that the company's outlook for the year 2023 and mid-term remains intact and they expect to deliver mid-single digit growth in this fiscal year and mid-teens revenue growth in subsequent periods. Duyuru • Jul 28
Vaibhav Global Limited Announces Cessation of Santiago Roces as Independent Director Vaibhav Global Limited informed that pursuant to completion of tenure as an Independent director of the Company, Mr. Santiago Roces (DIN: 07246975) has ceased to be a Director of the Company on 27th July, 2022. Duyuru • Jul 26
Vaibhav Global Limited to Report Q1, 2023 Results on Aug 02, 2022 Vaibhav Global Limited announced that they will report Q1, 2023 results at 3:30 PM, Indian Standard Time on Aug 02, 2022 Reported Earnings • Jul 13
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: ₹14.56 (down from ₹16.77 in FY 2021). Revenue: ₹27.6b (up 8.5% from FY 2021). Net income: ₹2.38b (down 13% from FY 2021). Profit margin: 8.6% (down from 11% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 18%. Over the next year, revenue is forecast to grow 7.1%, compared to a 24% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 21% per year and the company’s share price has also increased by 21% per year. Upcoming Dividend • Jun 22
Upcoming dividend of ₹1.50 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 01 September 2022. Payout ratio is a comfortable 41% but the company is not cash flow positive. Trailing yield: 1.9%. Within top quartile of Indian dividend payers (1.9%). Higher than average of industry peers (0.6%). Price Target Changed • May 25
Price target decreased to ₹782 Down from ₹927, the current price target is provided by 1 analyst. New target price is 120% above last closing price of ₹355. Stock is down 57% over the past year. The company is forecast to post earnings per share of ₹18.30 for next year compared to ₹14.56 last year. Duyuru • May 17
Vaibhav Global Limited to Report Q4, 2022 Results on May 23, 2022 Vaibhav Global Limited announced that they will report Q4, 2022 results on May 23, 2022 Valuation Update With 7 Day Price Move • Apr 05
Investor sentiment improved over the past week After last week's 20% share price gain to ₹461, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 21x in the Luxury industry in India. Total returns to shareholders of 278% over the past three years. Price Target Changed • Jan 31
Price target decreased to ₹927 Down from ₹1,090, the current price target is provided by 1 analyst. New target price is 100% above last closing price of ₹464. Stock is down 17% over the past year. The company is forecast to post earnings per share of ₹12.10 for next year compared to ₹16.77 last year. Reported Earnings • Jan 28
Third quarter 2022 earnings: EPS in line with expectations, revenues disappoint Third quarter 2022 results: EPS: ₹4.26 (down from ₹5.70 in 3Q 2021). Revenue: ₹7.51b (up 3.1% from 3Q 2021). Net income: ₹695.5m (down 25% from 3Q 2021). Profit margin: 9.3% (down from 13% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.3%. Over the next year, revenue is forecast to grow 12%, compared to a 22% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 51% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Jan 05
Insider recently sold ₹1.5m worth of stock On the 31st of December, Puran Rathore sold around 2k shares on-market at roughly ₹582 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹142m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Dec 13
Investor sentiment improved over the past week After last week's 21% share price gain to ₹618, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 22x in the Luxury industry in India. Total returns to shareholders of 351% over the past three years. Reported Earnings • Oct 29
Second quarter 2022 earnings released: EPS ₹2.57 (vs ₹4.36 in 2Q 2021) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2022 results: Revenue: ₹6.41b (up 6.5% from 2Q 2021). Net income: ₹421.8m (down 40% from 2Q 2021). Profit margin: 6.6% (down from 12% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 60% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 29
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₹575, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 17x in the Luxury industry in India. Total returns to shareholders of 334% over the past three years. Recent Insider Transactions • Sep 18
President of Shop LC recently sold ₹12m worth of stock On the 14th of September, Amit Agarwal sold around 15k shares on-market at roughly ₹773 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹23m more than they bought in the last 12 months. Recent Insider Transactions • Sep 10
Insider recently sold ₹2.1m worth of stock On the 6th of September, Ankur Sogani sold around 3k shares on-market at roughly ₹752 per share. In the last 3 months, they made an even bigger sale worth ₹4.2m. Insiders have been net sellers, collectively disposing of ₹7.7m more than they bought in the last 12 months. Executive Departure • Sep 08
Non-Executive Independent Director Monica Justice has left the company On the 5th of September, Monica Justice's tenure as Non-Executive Independent Director ended after 2.0 years in the role. We don't have any record of a personal shareholding under Monica's name. Monica is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 2.17 years. Recent Insider Transactions • Sep 03
Insider recently sold ₹1.4m worth of stock On the 30th of August, Ankur Sogani sold around 2k shares on-market at roughly ₹717 per share. In the last 3 months, they made an even bigger sale worth ₹4.2m. Insiders have been net sellers, collectively disposing of ₹11m more than they bought in the last 12 months. Reported Earnings • Jul 10
Full year 2021 earnings released: EPS ₹16.77 (vs ₹11.73 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹25.5b (up 28% from FY 2020). Net income: ₹2.72b (up 43% from FY 2020). Profit margin: 11% (up from 9.5% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 82% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Jun 30
Insider recently sold ₹4.2m worth of stock On the 22nd of June, Ankur Sogani sold around 5k shares on-market at roughly ₹836 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹34m more than they bought in the last 12 months. Upcoming Dividend • Jun 24
Upcoming dividend of ₹1.50 per share Eligible shareholders must have bought the stock before 30 June 2021. Payment date: 28 August 2021. Trailing yield: 0.7%. Lower than top quartile of Indian dividend payers (1.5%). Higher than average of industry peers (0.5%). Recent Insider Transactions • Jun 13
Non-Executive Non-Independent Director recently sold ₹170m worth of stock On the 9th of June, Nirmal Bardiya sold around 213k shares on-market at roughly ₹798 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹206m more than they bought in the last 12 months. Duyuru • May 16
Vaibhav Global Limited Proposes Final Dividend for the Year Ended March 31, 2021 Vaibhav Global Limited at its AGM to be held on July 29, 2021 proposes final dividend of INR 1.50 per equity share (face value of INR 2 each) for the year ended March 31, 2021. The register of members and share transfer books of the company shall be closed on 2 July, 2021 for the purpose of Annual General Meeting and Payment of Final Dividend. Reported Earnings • May 14
Full year 2021 earnings released: EPS ₹83.86 (vs ₹11.73 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹25.6b (up 28% from FY 2020). Net income: ₹2.72b (up 43% from FY 2020). Profit margin: 11% (up from 9.5% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has increased by 84% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 07
Investor sentiment improved over the past week After last week's 19% share price gain to ₹996, the stock trades at a trailing P/E ratio of 63x. Average trailing P/E is 17x in the Luxury industry in India. Total returns to shareholders of 642% over the past three years. 
