Vaibhav Global Limited — Investor Meet, 04-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Vaibhav Global (VGL) delivered strong Q2 FY26 earnings: Revenue up 10.2% YoY to INR 877 Cr, PAT surged 71% to INR 48 Cr. EBITDA margin improved 130 bps to 10%, with gross margin at 63.5%. Digital sales reached 42% of B2C, targeting 50% by FY27. US revenue grew 6.7%, UK 5.7%. Germany, with a H1 EBITDA loss of EUR 0.75 million, targets full-year breakeven. VGL mitigates US tariffs via local casting, leveraging vertical integration. Unique customer base grew 5% to 714,000. Lab-grown diamonds (10.3% of sales) offer higher margins. Management guides 7-9% revenue growth for FY26, expecting operating margin expansion.