Audited Financial Results (Consolidated and Standalone) under Ind AS for the quarter & year ended 31 March 2026
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Vaibhav Global reported full-year consolidated revenue of Rs 3,69,178.57 lakhs (up ~9.2% from Rs 3,37,957.68 lakhs) and consolidated profit after tax of Rs 26,612.91 lakhs (up ~73.8% from Rs 15,313.02 lakhs). The sharp PAT growth was boosted by a deferred tax credit of Rs 4,670.93 lakhs from recognition of a MAT credit asset upon transition to the new tax regime. Exceptional items of Rs 17.53 lakhs included a Rs 2,969.08 lakh ERC grant for Shop LC Global Inc. (USA), offset by Rs 2,501.55 lakh goodwill impairment for Mindful Souls B.V. and Rs 450 lakh loan impairment for Encase Packaging. Total dividend declared is Rs 6 per share (Rs 1.50 final plus Rs 4.50 interim). Q4 standalone revenue declined to Rs 13,584.69 lakhs vs Rs 17,062.25 lakhs in Q4 FY25, while standalone PAT surged to Rs 14,310.74 lakhs on the back of a Rs 4,753 lakh deferred tax credit.
Strong PAT growth driven by one-time tax credit should be viewed with caution as it masks underlying revenue growth of only ~9%. The goodwill impairment signals underperformance in the Mindful Souls B.V. (Europe) segment, which reported losses in multiple periods. Shareholders can expect continued dividend income but should monitor the tariff refund claims and UK/Europe segment performance.