Vaibhav Global Q4 PAT increases 41.4% yoy to Rs56cr, revenue grows 34%

Further improvement in return ratios on TTM basis with ROE & ROCE expanding to 32% & 61% respectively.

May 14, 2021 09:05 IST India Infoline News Service

Vaibhav Global Limited, a vertically integrated E-retailer of fashion jewellery, accessories and lifestyle products has announced its financial results for the quarter and year ended March 31, 2021.

Financial Performance Highlights:

Q4 FY21 performance overview compared with Q4 FY20
  • Revenue from operations enhanced by 33.7% yoy to Rs666cr
  • Retail Revenues grew robustly by 33.2% yoy to Rs659cr
  • EBITDA grew by a strong 41.3% to Rs85cr yoy; Margins at 12.8% improved 70 bps
  • PAT increased by 41.4 % yoy to Rs56cr; Margins at 8.4% improved 40 bps
  • Basic EPS increased to Rs17.29 per share from Rs12.25 per share
FY21 performance overview compared with FY20
  • Revenue from operations enhanced by 27.9% yoy to Rs2,540cr
  • Retail Revenues grew robustly by 31.1% yoy to Rs2,515cr
  • Digital acceleration continues with Web revenue now at 36% of total revenue.
  • EBITDA grew by a strong 40.4% yoy to Rs388cr; Margins at 15.3% improved 140 bps
  • PAT increased by 43.0% yoy to Rs272cr; Margins at 10.7% improved 110 bps
  • Basic EPS increased to Rs83.86 per share as compared to Rs58.65 per share
  • Further improvement in return ratios on TTM basis with ROE & ROCE expanding to 32% & 61% respectively
  • FY21 Free Cash Flows enhanced to Rs268cr
  • Rs81cr dividend for the year (including final dividend recommended)
Commenting on the performance for FY21 Sunil Agrawal, Managing Director, Vaibhav Global Limited said, The last financial year has been a period of unprecedented challenges. Globally, people have been confined to their homes, mobility severely restricted, increasing their propensity to look for new and innovative shopping experiences. While many established businesses and markets have seen significant disruption, VGL with its unique vertically integrated operations has firmly seized the opportunity and delivered consistent outperformance.

An agile business model and close alignment with customers’ needs, backed by omni-channel presence, has driven the business in our core consumer markets. We are confident of continuing the momentum in the current year as well as we sharpen further our front-end presence as well as our supply chain framework. Moreover, economic activity in our key markets of USA and UK is seeing a return to normalcy, which should drive demand further.

Underlying these successes are positive metrics on our 4R’s framework – with marked improvements on widening Reach, growing new customer Registrations, improving customer Retention and increasing Repeat purchases. At the same time, we have continued to pursue our triple bottom line objectives and I am glad to share that we have now provided meals to over 50 million children across India, USA and UK under our flagship “Your Purchase Feeds” program. Also, our deep commitment and engagement with our employees has resulted in continued recognition in the Great Places to Work lists across India, China and UK. On the corporate front, we have catapulted to the 65th rank in Fortune India’s Next 500 list 2021 from the 132nd rank in FY20. Going forward, we look forward to building on these achievements, moving from strength to strength to continue to provide joy to all our stakeholders”

At around 9:35 AM, Vaibhav Global was trading at Rs840.65 per piece down by Rs40.9 or 4.64% on Sensex.

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