Vaibhav Global's revenue increased by 46% in FY14Q2 to Rs. 318 Cr

The shares of Vaibhav Global Ltd. earlier known as Vaibhav Gems Ltd. who’s product catalogue includes bracelets, bangles, earrings, studded jewelry etc. have rocketed in the span of 60 days. The share price went up from 273 to 429 in the span of one month and 77.20 to 449.00 in one year. Their market share gains through expanded distribution network and introduction of collections/designs mapping market trends. Revenue generated in Q2 FY13 is Rs. 218 crore, Rs. 318 crore in Q2FY14, Rs. 418 crore in H1FY13 and Rs. 568 crore in H1 FY14 During FY13, Shareholders’ Equity was adjusted lower by Rs. 163.7 crore due to goodwill written off (Rs. 151.1 crore), provision for CDR recompense interest (Rs. 11.2 crore) and write off on liquidation of subsidiary (Rs. 1.5 crore) but During FY13 fixed assets were adjusted lower by Rs. 151.1 cr due to goodwill written off.

On November 20, 2013, the share price went up by 9.72 percent i.e. it increased by Rs. 38.50, and the total volume generated was 88,181. The face value of one share of Vaibhav Gems, which started at Rs. 10, is 428 as of today. The market capture is 1398 and the book value as of March 2012 is 106.06.

Commenting on Q2 & H1 FY14 performance, Mr. Sunil Agrawal , Chairman, Vaibhav Global said, “We are extremely pleased with our Q2 performance, delivering 46% growth in revenues and expanding profits by almost 5X. Demand for our deep value products remained robust in a traditionally weak quarter and the annual pre-season stock clearance sale closed in just a few weeks.”