Vaibhav Global Limited (VGL), a global e-tailer of Fashion Jewellery, Lifestyle Products, Apparels, and Accessories on TV and Digital Platforms, announced its financial results for the second quarter ending September 30, 2023.
According to the Vaibhav Global, Financial Performance of Q2 FY24 overview say, their revenue grow 9.1% over the revenue of Q1. Digital revenue mix of Vaibhav Global that grew 39% of B2C revenue, Industry leading Gross Margins at 61.4%. Overall, EBITDA margin remained up 9.5% and YoY higher remained up by 29%.
Improvement in profitability margins owing to better pricing and operational efficiencies. PBT for the quarter is Rs. 41 crores, higher by 33% YoY reflecting operating leverage. ROCE at 16% and ROE at 10%. Key Recent Development and Business Matrices of Vaibhav Global, 1: Acquired assets of Ideal World- a leading teleshopping brand in the UK with a legacy of over 21 years. 2: Acquired Mindful Souls BV, an e-commerce company dealing in subscription based online sales of fashion jewellery, gemstone, and lifestyle products.
Overall Vaibhav Global has Unique Customers (TTM basis) of 4.5 lakhs and added New registrations (TTM basis) of 3.1 lakhs; while their 5 years CAGR show a growth of 7% for Unique Customers and New registrations show 5 years CAGR of 13% growth. Their Digital strengthening is 54% of new customers acquired digitally on TTM basis. Your Purchase Feeds…: Over 81 million meals donated since inception.
Commenting on the performance for Q2 FY24 Sunil Agrawal, Managing Director, Vaibhav Global Limited, said, healthy revenue growth of 9.1% YoY. Focus on operational efficiencies and better pricing resulted in improved profitability margins. Recent acquisitions to create synergies, strengthen our digital businesses and continue market share gains.
To deliver 13%-15% revenue growth in FY24 and high-teens growth in FY25 with decent operating leverage. Remain confident to maintain revenue growth in mid-teens range in mid to long term period.
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