Apparels & Accessories company Vaibhav Global announced Q4FY24 results: Revenue: Q4 revenue growth of 14% YoY. Volume Growth: 26% YoY. Digital Revenue Mix: 39% of B2C revenue. Better realization led Gross Margins to 62.7%. EBITDA margin of 8.1%. YoY higher by 15%. PBT for the quarter is Rs 36 crore, higher by 18% YoY. ROCE at 19% and ROE at 10%. Lean balance sheet: Net cash positive balance of Rs 167 crore. Robust cash generating business model: Free cash flow and operating cash flow of Rs 230 crore and Rs 270 crore respectively Commenting on the performance for Q4 FY24, Sunil Agrawal, Managing Director, Vaibhav Global Limited, said, In line with our stated guidance, we demonstrated healthier operational performance with a revenue growth of 14% and 13% during Q4 and FY24 respectively. Higher gross margins drove overall profitability. We foresee continued momentum in FY25 and beyond. Positioned to capitalize on future growth opportunities, generate robust cash flows, and deliver meaningful returns to stakeholders. Result PDF
Apparels & Accessories company Vaibhav Global announced Q3FY24 results: Financial Performance Highlights: Revenue Growth: Q3FY24 revenue increased by 23% YoY. Digital Revenue Mix: Contributed to 40% of B2C revenue. Gross Margins: Industry-leading at 62.4%. EBITDA Margin: 11.1%, showing an improvement of 30% YoY. Profit Before Tax (PBT): Rs. 72 crore, marking a rise of 32% YoY. Operating Leverage: Improvement in margins due to better gross margins and operating leverage. Return Ratios: Return on Capital Employed (ROCE) stood at 18% and Return on Equity (ROE) at 11%. Interim Dividend: The company declared a third interim dividend of Rs 1.50 per share. Key Recent Development and Business Metrics: Ideal World: Reached profitability on a direct cost basis in Q3FY24. Mindful Souls BV: Operating with profitability at a 10% PBT margin. Unique Customers: Totalled 5.4 lakhs on a trailing twelve-month basis, with a 5-year compound annual growth rate (CAGR) of 9%. Community Initiative ('Your Purchase Feeds...'): The program has provided over 84 million meals since inception, with a run rate of approximately 66,000 meals donated every school day. Commenting on the performance for Q3FY24, Sunil Agrawal, Managing Director of Vaibhav Global, stated, "Strong operational performance with revenue growth of 23% YoY. Better gross margins along with operating leverage led to improved profitability margins. We reiterate our guidance of 13% to 15% topline growth in FY24 and a high teen range in FY25 with decent operating leverage. Having achieved market-leading growth, we are optimistic about our prospects and believe that the outlook remains promising and compelling." Result PDF
Conference Call with Vaibhav Global Management and Analysts on Q2FY24 Performance and Outlook. Listen to the full earnings transcript.
Conference Call with Vaibhav Global Management and Analysts on Q1FY24 Performance and Outlook. Listen to the full earnings transcript.
Other apparel & accessories company Vaibhav Global announced Q1FY24 results: Revenue: Q1FY24 revenue growth of 4.8% YoY. 5-year CAGR stays healthy at 11%. Digital revenue mix: 38% of B2C revenue. Industry-leading gross margins at 61.2%. Substantial improvement in EBITDA owing to efficient pricing and cost rebase. PAT for Q1FY24 is Rs 30 crore as against Rs 20 crore in Q1FY23. ROCE at 16% and ROE at 9%. Declared an interim dividend of Rs 1.50 per share (face value of Rs 2 each). Commenting on the performance for Q1FY24, Sunil Agrawal, Managing Director, Vaibhav Global, said, "Decent revenue growth of 4.8% YoY. Our 5-year CAGR stays healthy at 11%, suggesting the robustness of our business model. Substantial YoY improvement in EBITDA is on account of operational efficiencies and cost rebase initiatives. Our continued market share gain across territories demonstrates our agility. Our outlook for the future remains positive and we are confident to deliver 8-10% revenue growth in FY24 and mid-teens revenue growth in subsequent periods with strong operating leverage." Result PDF
Other Apparels & Accessories company Vaibhav Global announced Q4FY23 results: Revenue: Q4 and FY23 revenue growth: +1.1% and (2.2%) YoY respectively Robust growth of 39% and 36% over pre-Covid period of Q4 and FY20 respectively Digital Revenue Mix: 37% of B2C revenue Industry leading Gross Margins at 61% YoY improvement in EBITDA margin owing to efficient pricing and cost rebase PAT for the quarter is Rs 23 crore as against Rs 27 crore last year ROCE at 14% and ROE at 9%. Return ratios suggest the effect of subdued profitability. Recommended final dividend of Rs 1.50 per share (face value Rs 2 each) making cumulative dividend of Rs 6.00 per share for FY23 Commenting on the performance for Q4 FY23 Mr. Sunil Agrawal, Managing Director, Vaibhav Global Limited said, Revenue during last quarter was up by 1.1 YoY. While the quarterly numbers were modest, our growth over pre-COVID period is encouraging at 39.2% which is CAGR of 11.7%. The topline performance was in line with our guidance but could have been better given the continued macro environment weighing on the consumer sentiments. Amidst current macro challenges, our continued market share gain across territories demonstrates our ability to adapt and navigate headwinds. YoY improvement in EBITDA is on account of operational efficiencies and cost rebase initiatives. Our outlook for the future remains positive. I would like to reiterate our earlier guidance and outlook for the business and are confident to deliver 8-10% revenue growth in FY24 and to deliver mid-teens revenue growth in subsequent periods with decent operating leverage. Result PDF