Vaibhav Global Ltd
VAIBHAVGBLVaibhav Global Ltd is coiled. The quarters are improving, yet the P/E sits at the 0th percentile of its own 11-year range — the business is moving before the market.
The sharpest disagreement: annual EPS moved +72.8% against a −8.8% price move — the market has not yet caught up with the delivery.
The price is in a confirmed uptrend (9 weeks in) while the P/E sits at the 0th percentile of its own 11-year range. Underneath, the last four quarters read improving — profit +47.4% year on year, and 138% of the last 3 years' profit arrived as cash. What settles it: whether the price catches up with earnings that have already moved.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Vaibhav Global Ltd trades at ₹213, in a confirmed uptrend and 9 weeks into that stage. That is −8.8% against its own 200-day average. It sits at 33% of a 52-week range of ₹185 to ₹269. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (5 weeks and counting).
Today the stock is in a confirmed uptrend — week 9 of stage 2, confirmed. At ₹213 it trades −8.8% versus its 200-day average and sits at 33% of its 52-week range (₹185–₹269).
Against the market, two honest reads. Cumulative: over the last 10.5 years the stock moved +193% while the NIFTY 500 moved +267% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (5 weeks and counting; last ahead the week of 2026-08-07) — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
Story check
Vaibhav Global Ltd's story is not scored yet against the markers our research file set on 22 August 2026. Where it sits in its own cycle: Not stated in the research file.
Our read, 22 August 2026. Vertically integrated omni-channel retailer navigating Western discretionary headwinds through high-margin in-house brands, lab-grown diamonds, and European geographic expansion while generating cumulative cash flows exceeding reported profits.
From the numbers. The multiple compression from peak levels of 56.3x in December 2023 to current 13.3-14.8x reflects earnings recovery catching up to an equity price that consolidated down by over 70% from historical highs. TTM EPS…
From the price. Price stage 2, week 9 — below its 200-day line, relative strength falling.
From the research. Vertically integrated omni-channel retailer navigating Western discretionary headwinds through high-margin in-house brands, lab-grown diamonds, and European geographic expansion while generating cumulative cash flows…
🚨 Where they disagree. STRONG_OPPORTUNITY.
What is proven. Vertically integrated omni-channel retailer navigating Western discretionary headwinds through high-margin in-house brands, lab-grown diamonds, and European geographic expansion while generating cumulative cash flows exceeding reported profits.
What is not proven yet. US and UK constant-currency revenues contract year-over-year for two consecutive quarters while digital gross margin compresses below 60%, indicating loss of pricing power and failure of the digital transition rather than transient macroeconomic drag.
🚨 What would change our mind. US and UK constant-currency revenues contract year-over-year for two consecutive quarters while digital gross margin compresses below 60%, indicating loss of pricing power and failure of the digital transition rather than transient macroeconomic drag.
The test written in advance. US and UK constant-currency revenues contract year-over-year for two consecutive quarters while digital gross margin compresses below 60%, indicating loss of pricing power and failure of the digital transition rather than transient macroeconomic drag. — the thesis as written as stated by the next result.
The test written in advance. Frequent Management Guidance Revisions and Target Dilution — Frequent Management Guidance Revisions and Target Dilution by the next result.
The test written in advance. Stagnant Constant-Currency Growth in Core US and UK Markets — Stagnant Constant-Currency Growth in Core US and UK Markets Combined US and UK revenue declining in constant-currency terms for two consecutive quarters. by the next result.
What the company does. Gross margin expansion driven by in-house brand penetration reaching 57% and lab-grown diamonds scaling to 13% of retail revenue. Germany operations inflecting toward positive profit contribution in FY27 alongside UK profitability improvements from Ideal World. Trailing valuation sits at the 5th percentile of 10-year history with net cash of 287 crore and 3-year aggregate operating cash flow to net profit ratio of 1.38x.
🚨 What the surface reading misses. The surface reading is: Borrowings increased 82% in FY26 to 416 crore, raising apparent debt risk. The research reads it further: Borrowings were deployed into short-term working capital and inventory pre-positioning ahead of tariffs rather than long-term leverage.
🚨 What the surface reading misses. The surface reading is: Cash conversion cycle expanded by 31 days, suggesting deteriorating working capital efficiency. The research reads it further: Receivables and inventory holding periods were virtually flat; the entire expansion was caused by paying suppliers faster (payable days down 27 days).
Sources: our stock research file (22 August 2026) · quarterly results through Jun 26 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Vaibhav Global Ltd reported ₹917 Cr of revenue in the Jun 26 quarter, +12.7% year on year. That is the 12th straight quarter of year-on-year growth. Over 10 years it has compounded at 11.2% a year. The last full year, FY26, came in at ₹3,692 Cr. The last four reported quarters add to ₹3,795 Cr.
Why this happened. Lab-grown diamonds scaled from near zero 18 months prior to 11% of retail sales in FY26 and 13% in Q1 FY27, with average selling prices near 250 dollars. With 70-75% of demand in one-carat-and-above units, LGD represents premiumization rather than discount substitution, supporting a 67% ex-refund gross margin.
FY26 revenue came in at ₹3,692 Cr (+9.2% on the year), capping 10 years at 11.2% compound. The latest quarter (Jun 26) printed ₹917 Cr, +12.7% year on year — the 12th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +10.5% growth against the decade's 11.2% — the current year is running in line with its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +10.4% over the last 4 quarters against +10.0%/yr over the last 8 — stabilising; TTM profit +73.8% vs +51.6%/yr — accelerating.
FY26-Q4. revenue ₹935 Cr and profit ₹91 Cr as reported.
FY27-Q1. revenue ₹917 Cr and profit ₹56 Cr as reported.
Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Vaibhav Global Ltd's operating margin is 11.0% in the Jun 26 quarter, +3.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 4.6% to 15.0%. The current quarter sits inside that band.
Why this happened. In-house brands reached 50% of B2C sales in FY26 (nearly one year ahead of plan) and expanded further to 57% in Q1 FY27. In-house brands deliver structurally higher gross margins and customer retention (23 repeat purchases per customer annually), internalizing product margin and insulating earnings from external brand licensing inflation.
The latest quarter's operating margin is 11.0%, +3.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 4.6%–15.0%.
Why the margin moved: operating margin went +3.0 pp year on year while gross margin went +4.1 pp — the gain came mostly from the gross line: input costs and pricing.
FY26-Q4. revenue ₹935 Cr and profit ₹91 Cr as reported.
FY27-Q1. revenue ₹917 Cr and profit ₹56 Cr as reported.
Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Vaibhav Global Ltd earned ₹56.0 Cr of net profit in the Jun 26 quarter, +47.4% year on year. It is the 7th consecutive quarter of growth. Full-year FY26 profit was ₹266 Cr. The 10-year compound rate is 20.9%. That is 6.1% of the quarter's revenue. The same quarter a year earlier earned ₹38.0 Cr.
Jun 26 profit was ₹56.0 Cr, +47.4% year on year — the 7th consecutive quarter of growth. On the full year, FY26 printed ₹266 Cr (+73.9%), and the 10-year compound rate is 20.9%.
Why profit moved: revenue contributed +12.7% and the margin +3.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.
Pace comparison, last four quarters: profit +81.8% vs revenue +10.5%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.
FY26-Q4. revenue ₹935 Cr and profit ₹91 Cr as reported.
FY27-Q1. revenue ₹917 Cr and profit ₹56 Cr as reported.
Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 138% of Vaibhav Global Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹310 Cr of operating cash against ₹266 Cr of profit. After ₹251 Cr of capital spending, ₹59.0 Cr was left as free cash.
FY26: operating cash of ₹310 Cr against reported profit of ₹266 Cr, leaving free cash of ₹59.0 Cr after ₹251 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 138% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why conversion sits at 138%: the cash cycle stretched 50 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving.
Router verdict: the bigger cash user is investment — capital spending ran 1.7× depreciation over three years, so the next section's job is to check what that build-out is buying.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Vaibhav Global Ltd's cash conversion cycle runs 189 days in FY26, up from 139 days in FY21. Capital spending ran ₹511 Cr over the last 3 years. At FY26 sales of ₹3,692 Cr each day of that cycle holds about ₹10.1 Cr, so roughly ₹1,912 Cr sits inside the business at any moment.
FY26: debtors at 34 days, inventory at 232 days — roughly 7.6 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 189 days, looser than FY21's 139.
The full loop: cash goes out to suppliers and production on day 0; stock waits 232 days to sell; customers pay about 34 days after that; and suppliers themselves are paid at 77 days — netting out to the 189-day cycle.
In money terms: at FY26 sales of ₹3,692 Cr, each day of the cycle holds about ₹10.1 Cr — so the 189-day loop keeps roughly ₹1,912 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹511 Cr over the last 3 fiscal years against ₹298 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹26.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Vaibhav Global Ltd earns a ROCE of 16% in FY26. That is up from a trough of 11% in FY16. Return on invested capital clears the cost of that capital by +4.3 percentage points, so growth here adds value rather than only size. The wiring behind it is 7.2% net margin on 1.45× asset turns.
FY26 ROCE is 16%, recovered from a FY16 trough of 11% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY26): 7.2% net margin × 1.45× asset turns × 1.54× balance-sheet leverage ≈ 16.1% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.
The capstone test — ROIC − WACC: 16.3% − 12.0% = a +4.3 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Positive but thin — value creation with little room for error.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.
Vaibhav Global Ltd carries total debt of ₹416 Cr against shareholder equity of ₹1,648 Cr as of Mar 26, a debt-to-equity of 0.25 — effectively unlevered. On the annual view that ratio went from 0.15 in FY22 to 0.25 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Mar 26: total debt of ₹416 Cr against shareholder equity of ₹1,648 Cr — a debt-to-equity of 0.25. On the annual view, debt-to-equity went from 0.15 (FY22) to 0.25 (FY26). The returns on this page are earned, not borrowed.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Foreign institutions cut 4.8 points of Vaibhav Global Ltd over 8 quarters, the biggest move on the register. That takes foreign institutions to 16.7% of the company. Domestic institutions moved +0.3 points over the same window, to 2.2%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Foreign institutions: −4.8 points over 8 quarters to 16.7%; Domestic institutions: +0.3 points over 8 quarters to 2.2%; Promoters: +0.1 points over 8 quarters to 57.3%.
🚨 Why the register moved: foreign institutions drove it (−4.8 points) — distribution into the market’s bid.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Vaibhav Global Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Vaibhav Global Ltd trades at 12.5× P/E, about the cheapest it has ever traded. Its long-run median P/E is 25.7×, measured across 10.6 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 12.5× is about the cheapest it has ever traded, against a long-run median of 25.7× measured over 10.6 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved +72.8% against a −8.8% price move — earnings outran the price, pushing the multiple DOWN its own range.
The price move, decomposed: over 5y, of the −23.1%/yr price move, ~−1.0%/yr came from earnings growth and ~−22.1 pp from the multiple (compressing); over 10y, of the +13.1%/yr price move, ~+20.3%/yr came from earnings growth and ~−7.2 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is low against its own past, so the story rests on the earnings line underneath it, not the multiple.
What the price assumes This reading works the multiple backwards. It asks one question: what yearly rate of profit growth is a buyer at the market price already paying for? The number is the growth rate that makes eleven years of profit — six years growing, then five fading — add up to that day's market price, once each year is discounted at 11% a year.
Solved at its 24 August 2026 price, Vaibhav Global Ltd was paying for profit growth of about 5.0% a year. Profit itself has compounded 20.9% a year over the past 10 years. Today the market pays 12.5× P/E, the 0th percentile of its own 11-year range.
What the two numbers say together. The multiple is low against its own past, and the growth the price is paying for is below what this company has actually delivered.
How to hold this number: it is a reading of one day's price, taken on 24 August 2026, not a running figure — every other number on this page, the multiple included, is read off the live quote as of 11 September 2026. A higher price is paying for more growth and a lower price for less, so it moves whenever the price does, and this page does not restate it between measurements.
Stage: Consistent Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Vaibhav Global Ltd reads as consistent on its fundamental arc. Consistent — revenue, profit and EPS growth have stayed positive through the window, with ROCE at 17.5% and holding. The read is built from 12 quarters across 4 curves, on full evidence.
Why it matters: steady curves with healthy returns are the compounding setup — the risk is the price, not the business.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +9.2% | +11.1% | +7.8% | +11.2% |
| Profit | +73.9% | +36.3% | −0.4% | +20.9% |
| EPS | +72.8% | +35.8% | −0.9% | +20.6% |
| Share price | −8.8% | −21.8% | −23.1% | +13.1% |
4-Factor Sector Score
52.0/100 — rank 14 of 26 in Diamond, Gems & Jewellery · 100% evidence confidence
Vaibhav Global Ltd scores 52.0 out of 100 against the 26 companies it is compared with in Diamond, Gems & Jewellery, ranking 14. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 19.3 + 12.8 + 18.7 + 1.2 = 52. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Said versus delivered
What Vaibhav Global Ltd's management promised, set against what actually arrived — 4 tracked promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met.
School Meals Target Accelerated Without Explanation · 5 August 2026. In the Jan 2026 and Oct 2025 calls, management stated that the long-term goal was to provide 1 million meals per school day by FY '40. In the Aug 2026 call, management changed this target to FY31 without explaining the material acceleration of the stated ESG milestone.
🚨 Tariff Exposure Narrative Changed · 5 August 2026. The Oct 2025 call characterized the company's overall tariff cost as below 5.5% after the US casting model was implemented. In the Aug 2026 call, management stated that both US units had paid a 50% tariff and received a refund, but did not reconcile the apparent difference in tariff exposure or explain how much of the refund related to previously recognized costs; this affects the assessment of recurring margins and earnings quality.
Medium-Term Revenue Growth Target Reduced · 22 May 2026. In the Oct 2025 conference call, management confidently projected mid-teens revenue growth over the medium term. However, in the May 2026 call, they adjusted this outlook downward, guiding to a lower mid-term revenue growth rate of 10% to 12% without explaining the reasons for this reduction.
🚨 Medium-Term Growth Downgrade · 28 January 2026. In both the August and October 2025 calls, management consistently projected "mid-teens" revenue growth for the medium term. However, in the January 2026 call, this target was significantly lowered to a specific range of 9-11% for FY27, which represents a material deceleration from the previous 14-16% expectation without a clear justification for the structural change. Earlier call (Oct 2025): “In the medium term, we are confident to achieve mid-teens revenue growth with steady improvement in operating margins.” Earlier call (Aug 2025): “For the periods further ahead, we continue to project mid-teens revenue growth, supported by strong operating leverage”. Later call (Jan 2026): “We expect to achieve 9-11% revenue growth in FY27 with an EBIT margin of 10.5-11%.”
Every quote above is taken word for word from the company’s own earnings calls.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Tribhovandas Bhimji Zaveri LtdTBZ | 73.1/100Favorable setup87% evidence | LEADER | 25.6/35 Revenue 29.1% · PAT 100% · OPM change 0 pp 95% evidence | 14.8/25 ROCE 21.9% · OPM 9% 95% evidence | 12.7/20 P/E 16.4× · PEG — 50% evidence | 20.0/20 RS sector 115.4% · RS bench 178.1% · 1Y 186.8%12 of 12 weeks ahead 100% evidence |
| Exact sum: 25.6 + 14.8 + 12.7 + 20 = 73.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 2Khazanchi Jewellers Ltd543953 | 70.1/100Favorable setup76% evidence | BREAKING OUT | 26.9/35 Revenue 24.4% · PAT 100% · OPM change 2 pp 95% evidence | 17.5/25 ROCE 34.8% · OPM 7% 76% evidence | 11.7/20 P/E 18.3× · PEG — 50% evidence | 14.0/20 RS sector 13.2% · RS bench 9.9% · 1Y 27.3%7 of 10 weeks ahead 70% evidence |
| Exact sum: 26.9 + 17.5 + 11.7 + 14 = 70.1 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 3Sky Gold & Diamonds LtdSKYGOLD | 68.5/100Favorable setup100% evidence | LEADER | 28.2/35 Revenue 81.4% · PAT 100% · OPM change 2 pp 100% evidence | 15.7/25 ROCE 27% · OPM 8% 100% evidence | 7.1/20 P/E 38.2× · PEG 1.71 100% evidence | 17.5/20 RS sector 45.6% · RS bench 88% · 1Y 196.6%12 of 12 weeks ahead 100% evidence |
| Exact sum: 28.2 + 15.7 + 7.1 + 17.5 = 68.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 4D.P. Abhushan LtdDPABHUSHAN | 68.3/100Favorable setup100% evidence | BREAKING OUT | 25.3/35 Revenue 30.8% · PAT 94.3% · OPM change 1 pp 100% evidence | 18.2/25 ROCE 39.6% · OPM 11% 100% evidence | 15.0/20 P/E 12.8× · PEG 0.68 100% evidence | 9.8/20 RS sector -18.8% · RS bench 7.9% · 1Y -15%9 of 12 weeks ahead 100% evidence |
| Exact sum: 25.3 + 18.2 + 15 + 9.8 = 68.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 5Utssav CZ Gold Jewels LtdUTSSAV | 64.7/100Thin evidence · provisional56% evidence | LEADER | 19.7/35 Revenue — · PAT — · OPM change 0 pp 26% evidence | 18.1/25 ROCE 28.8% · OPM 7% 95% evidence | 9.5/20 P/E 21.7× · PEG — 15% evidence | 17.4/20 RS sector 43.3% · RS bench 84.4% · 1Y 183.4%12 of 12 weeks ahead 100% evidence |
| Exact sum: 19.7 + 18.1 + 9.5 + 17.4 = 64.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 6Thangamayil Jewellery LtdTHANGAMAYL | 60.4/100Mixed-positive evidence100% evidence | FADING | 26.9/35 Revenue 83.2% · PAT 100% · OPM change -1 pp 100% evidence | 14.0/25 ROCE 25.5% · OPM 5% 100% evidence | 10.1/20 P/E 40.6× · PEG 0.77 100% evidence | 9.4/20 RS sector -0.1% · RS bench 30.2% · 1Y 133.4%10 of 12 weeks ahead 100% evidence |
| Exact sum: 26.9 + 14 + 10.1 + 9.4 = 60.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 7PC Jeweller LtdPCJEWELLER | 59.3/100Mixed-positive evidence100% evidence | BREAKING OUT | 20.1/35 Revenue 36.5% · PAT 32.7% · OPM change 10 pp 100% evidence | 6.8/25 ROCE 9.6% · OPM 28% 100% evidence | 15.8/20 P/E 17.2× · PEG 0.26 100% evidence | 16.6/20 RS sector 2.4% · RS bench 36.2% · 1Y 3.4%7 of 12 weeks ahead 100% evidence |
| Exact sum: 20.1 + 6.8 + 15.8 + 16.6 = 59.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 8RBZ Jewellers LtdRBZJEWEL | 58.3/100Mixed-positive evidence87% evidence | BREAKING OUT | 17.5/35 Revenue 30.3% · PAT 54% · OPM change -2.3 pp 95% evidence | 16.7/25 ROCE 22% · OPM 14.8% 95% evidence | 13.7/20 P/E 12.3× · PEG — 50% evidence | 10.4/20 RS sector -4.8% · RS bench 26% · 1Y 26.8%9 of 12 weeks ahead 100% evidence |
| Exact sum: 17.5 + 16.7 + 13.7 + 10.4 = 58.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 9Senco Gold LtdSENCO | 56.8/100Mixed-positive evidence100% evidence | TURNING | 24.8/35 Revenue 43.1% · PAT 100% · OPM change -3 pp 100% evidence | 12.4/25 ROCE 21.2% · OPM 7% 100% evidence | 15.1/20 P/E 9.9× · PEG 1.35 100% evidence | 4.5/20 RS sector -20.6% · RS bench 5.3% · 1Y -10%5 of 12 weeks ahead 100% evidence |
| Exact sum: 24.8 + 12.4 + 15.1 + 4.5 = 56.8 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -20.6% and the one-year return is -10%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth. | ||||||
| 10Uday Jewellery Industries Ltd539518 | 56.7/100Mixed-positive evidence78% evidence | 27.2/35 Revenue 100% · PAT 100% · OPM change 3 pp 83% evidence | 14.2/25 ROCE 22.4% · OPM 7% 76% evidence | 12.0/20 P/E 13.7× · PEG — 50% evidence | 3.3/20 RS sector -18.9% · RS bench -3.8% · 1Y -13.9%3 of 4 weeks ahead to 2026-07-19 100% evidence | |
| Exact sum: 27.2 + 14.2 + 12 + 3.3 = 56.7 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -18.9% and the one-year return is -13.9%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth. | ||||||
| 11Titan Company LtdTITAN | 56.0/100Mixed-positive evidence100% evidence | BREAKING OUT | 26.9/35 Revenue 45% · PAT 55.1% · OPM change 3 pp 100% evidence | 13.2/25 ROCE 20.5% · OPM 14% 100% evidence | 8.3/20 P/E 76.2× · PEG 1.43 100% evidence | 7.6/20 RS sector -9.2% · RS bench 20.1% · 1Y 36.6%6 of 12 weeks ahead 100% evidence |
| Exact sum: 26.9 + 13.2 + 8.3 + 7.6 = 56 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 12Shanti Gold International LtdSHANTIGOLD | 55.0/100Mixed-positive evidence74% evidence | BREAKING OUT | 17.8/35 Revenue 100% · PAT 100% · OPM change -8 pp 95% evidence | 16.5/25 ROCE 37% · OPM 10% 95% evidence | 10.9/20 P/E 12.7× · PEG — 15% evidence | 9.8/20 RS sector -7.1% · RS bench 23% · 1Y 12.1%10 of 12 weeks ahead 70% evidence |
| Exact sum: 17.8 + 16.5 + 10.9 + 9.8 = 55 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 13Kalyan Jewellers India LtdKALYANKJIL | 54.9/100Mixed-positive evidence100% evidence | BREAKING OUT | 22.4/35 Revenue 45.8% · PAT 79.3% · OPM change -1 pp 100% evidence | 12.0/25 ROCE 21.2% · OPM 6% 100% evidence | 4.9/20 P/E 42.4× · PEG 2.19 100% evidence | 15.6/20 RS sector 0% · RS bench 31.7% · 1Y 19.8%9 of 12 weeks ahead 100% evidence |
| Exact sum: 22.4 + 12 + 4.9 + 15.6 = 54.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 14Vaibhav Global Ltdthis pageVAIBHAVGBL | 52.0/100Mixed-positive evidence100% evidence | ASLEEP | 19.3/35 Revenue 10.4% · PAT 73.8% · OPM change 3 pp 100% evidence | 12.8/25 ROCE 16.4% · OPM 11% 100% evidence | 18.7/20 P/E 12.5× · PEG 0.33 100% evidence | 1.2/20 RS sector -29.8% · RS bench -6.7% · 1Y -1.8%6 of 12 weeks ahead 100% evidence |
| Exact sum: 19.3 + 12.8 + 18.7 + 1.2 = 52 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 15Radhika Jeweltech LtdRADHIKAJWE | 51.5/100Mixed-positive evidence87% evidence | BREAKING OUT | 11.2/35 Revenue 16.9% · PAT 27% · OPM change -6 pp 95% evidence | 18.2/25 ROCE 25.1% · OPM 20% 95% evidence | 10.8/20 P/E 12.4× · PEG — 50% evidence | 11.3/20 RS sector -10.1% · RS bench 19.8% · 1Y -11.5%6 of 12 weeks ahead 100% evidence |
| Exact sum: 11.2 + 18.2 + 10.8 + 11.3 = 51.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 16Golkunda Diamonds & Jewellery Ltd523676 | 51.5/100Thin evidence · provisional57% evidence | 13.6/35 Revenue 1.3% · PAT -12.4% · OPM change -0.8 pp 53% evidence | 13.2/25 ROCE 19.9% · OPM 9.7% 57% evidence | 8.6/20 P/E 16× · PEG — 50% evidence | 16.1/20 RS sector 61.7% · RS bench 52.8% · 1Y 63.4%9 of 12 weeks ahead to 2026-03-29 70% evidence | |
| Exact sum: 13.6 + 13.2 + 8.6 + 16.1 = 51.5 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 17P N Gadgil Jewellers LtdPNGJL | 50.7/100Mixed-positive evidence93% evidence | BREAKING OUT | 26.0/35 Revenue 47.8% · PAT 76.6% · OPM change 2 pp 100% evidence | 12.2/25 ROCE 20.9% · OPM 8% 100% evidence | 7.9/20 P/E 20.1× · PEG 1.77 65% evidence | 4.6/20 RS sector -22.7% · RS bench 2.8% · 1Y 2.7%4 of 12 weeks ahead 100% evidence |
| Exact sum: 26 + 12.2 + 7.9 + 4.6 = 50.7 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -22.7% and the one-year return is 2.7%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth. | ||||||
| 18Manoj Vaibhav Gems N Jewellers LtdMVGJL | 50.2/100Mixed-positive evidence87% evidence | TURNING | 13.5/35 Revenue 21.5% · PAT 22% · OPM change -1 pp 95% evidence | 11.2/25 ROCE 15.8% · OPM 6% 95% evidence | 15.0/20 P/E 8× · PEG — 50% evidence | 10.5/20 RS sector -12% · RS bench 17.3% · 1Y 0.1%2 of 12 weeks ahead 100% evidence |
| Exact sum: 13.5 + 11.2 + 15 + 10.5 = 50.2 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 19Bluestone Jewellery & Lifestyle LtdBLUESTONE | 48.8/100Thin evidence · provisional59% evidence | BREAKING OUT | 23.5/35 Revenue 40% · PAT 100% · OPM change 3.4 pp 74% evidence | 4.7/25 ROCE 6.8% · OPM 14.5% 100% evidence | 8.6/20 P/E 242× · PEG — 15% evidence | 12.0/20 RS sector — · RS bench 56.3% · 1Y 47.3%9 of 10 weeks ahead 25% evidence |
| Exact sum: 23.5 + 4.7 + 8.6 + 12 = 48.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 20Motisons Jewellers LtdMOTISONS | 48.3/100Mixed-negative evidence87% evidence | BREAKING OUT | 16.4/35 Revenue 10.7% · PAT 50% · OPM change 0 pp 95% evidence | 13.4/25 ROCE 17.9% · OPM 15% 95% evidence | 11.8/20 P/E 27.1× · PEG — 50% evidence | 6.7/20 RS sector -17.9% · RS bench 9.1% · 1Y -17.4%7 of 12 weeks ahead 100% evidence |
| Exact sum: 16.4 + 13.4 + 11.8 + 6.7 = 48.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 21Shringar House of Mangalsutra LtdSHRINGARMS | 46.5/100Mixed-negative evidence74% evidence | BREAKING OUT | 15.1/35 Revenue 65.1% · PAT 65.8% · OPM change -3 pp 95% evidence | 15.5/25 ROCE 26.8% · OPM 9% 95% evidence | 10.1/20 P/E 17.3× · PEG — 15% evidence | 5.8/20 RS sector -23% · RS bench 2.4% · 1Y 14.6%6 of 12 weeks ahead 70% evidence |
| Exact sum: 15.1 + 15.5 + 10.1 + 5.8 = 46.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 22PNGS Gargi Fashion Jewellery Ltd543709 | 46.1/100Mixed-negative evidence76% evidence | BASING | 7.9/35 Revenue 18.3% · PAT 8.7% · OPM change -3.5 pp 95% evidence | 19.9/25 ROCE 33.8% · OPM 19.8% 76% evidence | 10.6/20 P/E 20.3× · PEG — 50% evidence | 7.7/20 RS sector -2.3% · RS bench -29% · 1Y -30.4%0 of 10 weeks ahead 70% evidence |
| Exact sum: 7.9 + 19.9 + 10.6 + 7.7 = 46.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 23Rajesh Exports LtdRAJESHEXPO | 31.4/100Adverse evidence91% evidence | TURNING | 18.0/35 Revenue 79.5% · PAT 100% · OPM change 0 pp 74% evidence | 4.6/25 ROCE 1.9% · OPM 0% 100% evidence | 6.5/20 P/E 13.7× · PEG 1.74 100% evidence | 2.3/20 RS sector -56.8% · RS bench -41.5% · 1Y -56.7%0 of 12 weeks ahead 100% evidence |
| Exact sum: 18 + 4.6 + 6.5 + 2.3 = 31.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 24Asian Star Company LtdASTAR | 20.1/100Adverse evidence87% evidence | BASING | 5.7/35 Revenue -3.8% · PAT -23.3% · OPM change -0.9 pp 95% evidence | 7.1/25 ROCE 3.6% · OPM 2.1% 95% evidence | 6.1/20 P/E 28.2× · PEG — 50% evidence | 1.2/20 RS sector -31.2% · RS bench -7.9% · 1Y -20.1%0 of 12 weeks ahead 100% evidence |
| Exact sum: 5.7 + 7.1 + 6.1 + 1.2 = 20.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 25PNGS Reva Diamond Jewellery LimitedPNGSREVA | 59.2/100Thin evidence · provisional43% evidence | BREAKING OUT | 22.9/35 Revenue — · PAT — · OPM change 7 pp 45% evidence | 16.5/25 ROCE 22% · OPM 29% 95% evidence | 9.8/20 P/E 19.2× · PEG — 15% evidence | 10.0/20 RS sector — · RS bench — · 1Y —6 of 9 weeks ahead 0% evidence |
| Exact sum: 22.9 + 16.5 + 9.8 + 10 = 59.2 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 26SJ Corporation Ltd504398 | 46.0/100Thin evidence · provisional33% evidence | 19.1/35 Revenue — · PAT — · OPM change 16.7 pp 17% evidence | 6.0/25 ROCE 0.1% · OPM 10.7% 76% evidence | 8.5/20 P/E 807× · PEG — 15% evidence | 12.4/20 RS sector — · RS bench 135.6% · 1Y —4 of 4 weeks ahead 25% evidence | |
| Exact sum: 19.1 + 6 + 8.5 + 12.4 = 46 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Frequently asked questions
What is Vaibhav Global Ltd's share price today?
Vaibhav Global Ltd trades at ₹213, −8.8% over the past year. The company is valued at ₹3,566 Cr. The stock sits at 33% of its 52-week range of ₹185–₹269, −8.8% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 9 weeks in. — as of 11 September 2026.
What were Vaibhav Global Ltd's latest quarterly results?
Vaibhav Global Ltd reported revenue of ₹917 Cr and net profit of ₹56.0 Cr for the Jun 26 quarter. Revenue rose 12.7% and profit rose 47.4% year on year. Earnings per share were ₹3.37. The operating margin was 11.0%, 3.0 pp higher than a year earlier. — as of 11 September 2026.
What is Vaibhav Global Ltd's revenue?
Vaibhav Global Ltd reported revenue of ₹917 Cr in the Jun 26 quarter, +12.7% year on year. For the full FY26 fiscal year, revenue was ₹3,692 Cr (+9.2%). Over the last 10 years revenue compounded at 11.2% a year. — as of 11 September 2026.
What is Vaibhav Global Ltd's profit?
Vaibhav Global Ltd earned ₹56.0 Cr of net profit in the Jun 26 quarter, +47.4% year on year — the 7th straight quarter of growth. Full-year FY26 profit was ₹266 Cr. The operating margin ran 11.0% in the latest quarter. — as of 11 September 2026.
What is Vaibhav Global Ltd's market cap?
Vaibhav Global Ltd's market capitalisation is ₹3,566 Cr at a share price of ₹213. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 11 September 2026.
What is Vaibhav Global Ltd's P/E ratio?
Vaibhav Global Ltd trades at a P/E of 12.5×, at the cheapest it has been in 11 years, against a long-run median of 25.7×. This is a comparison with the stock's own history, not a value call — as of 11 September 2026.
Does Vaibhav Global Ltd pay a dividend?
Yes — Vaibhav Global Ltd's dividend payout was 38% of profit in FY26, and it recorded a payout in 10 of its last 13 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 11 September 2026.
Is Vaibhav Global Ltd overvalued?
On its own history, Vaibhav Global Ltd looks cheap: its P/E of 12.5× has been cheaper only 0% of the time in 11 years (long-run median 25.7×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 11 September 2026.
Is Vaibhav Global Ltd growing?
Yes — Vaibhav Global Ltd is growing: latest-quarter revenue +12.7% year on year, profit +47.4%, and the margin +3.0 pp at 11.0%. The 10-year compound rates are 11.2% (revenue) and 20.9% (profit). The earnings engine currently reads: improving — as of 11 September 2026.
How is Vaibhav Global Ltd performing?
Vaibhav Global Ltd is in a confirmed uptrend, 9 weeks in. Its latest quarter's revenue rose 12.7% and profit rose 47.4% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 5 weeks. This describes what the data did, not a rating. — as of 11 September 2026.
What stage is Vaibhav Global Ltd in?
Consistent — revenue, profit and EPS growth have stayed positive through the window, with ROCE at 17.5% and holding. The read comes from the last 12 quarters of growth (revenue growth +10.4% latest, profit growth +73.8% latest, eps growth +73.7% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 11 September 2026.
Is Vaibhav Global Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 9 of stage 2), trading −8.8% versus its 200-day average and at 33% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 11 September 2026.
Is Vaibhav Global Ltd beating the market?
Not lately — on a trailing-13-week view Vaibhav Global Ltd is currently behind the NIFTY 500 (5 weeks and counting; last ahead the week of 2026-08-07), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.5 years the stock moved +193% against the NIFTY 500's +267% — behind the index over the full window. — as of 11 September 2026.
Will Vaibhav Global Ltd's share price go up?
This page publishes no price forecast for Vaibhav Global Ltd. What it measures instead: the share price is ₹213, the price is in a confirmed uptrend 9 weeks in. Its P/E of 12.5× sits at the 0th percentile of its own 11-year range. — as of 11 September 2026.
Who owns Vaibhav Global Ltd?
Promoters hold 57.3% of Vaibhav Global Ltd, foreign institutions 16.7%, domestic institutions 2.2% and the public 23.8% (latest quarter). The biggest move on the register over the last two years: Foreign institutions cut 4.8 points over 8 quarters. — as of 11 September 2026.
Does Vaibhav Global Ltd have too much debt?
No — Vaibhav Global Ltd's debt-to-equity is 0.25, and operating profit covers the interest bill 24×. FY26 borrowings were ₹416 Cr against equity of ₹1,648 Cr. The returns on this page are earned, not borrowed — as of 11 September 2026.
What is Vaibhav Global Ltd's capex?
Vaibhav Global Ltd spent ₹511 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹251 Cr, with ₹26.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 11 September 2026.
What is Vaibhav Global Ltd's cash flow?
Vaibhav Global Ltd generated ₹310 Cr of operating cash flow in FY26 and ₹59.0 Cr of free cash flow after ₹251 Cr of capital spending. Reported profit that year was ₹266 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 11 September 2026.
Is Vaibhav Global Ltd's profit real cash?
Yes — over the last 3 fiscal years, 138% of Vaibhav Global Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹310 Cr against reported profit of ₹266 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 11 September 2026.
Where is Vaibhav Global Ltd in its business cycle?
Vaibhav Global Ltd's FY26 operating margin was 10.0%, against a 13-year band of 4.6%–15.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 11.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 11 September 2026.
What growth does Vaibhav Global Ltd's price assume?
At its price on 24 August 2026, Vaibhav Global Ltd was priced for profit growth of about 5.0% a year. Profit itself has compounded 20.9% a year over the past 10 years. The figure reads the multiple backwards: the growth a buyer at that price was already paying for. — as of 11 September 2026.
What could break the Vaibhav Global Ltd story?
The sharpest disagreement: annual EPS moved +72.8% against a −8.8% price move — the market has not yet caught up with the delivery. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 11 September 2026.
Is Vaibhav Global Ltd a stock worth studying right now?
This is not investment advice. The machine read: Vaibhav Global Ltd is coiled. The quarters are improving, yet the P/E sits at the 0th percentile of its own 11-year range — the business is moving before the market. The sharpest open question: whether the price catches up with earnings that have already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 11 September 2026.
Not SEBI Registered !! Not Investment advice !!