Press Release

VAIBHAV GLOBAL LIMITED Ref: VGL/CS/2026/98 Date: 29th October, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, Block G, Phiroze Jeejeebhoy Towers, Bandra Kurla Complex, Dalal Street, Bandra, Mumbai – 400 051 Mumbai – 400 001 Symbol: VAIBHAVGBL Scrip Code: 532156 Subject: Press Release Dear Sir / Madam, Please find enclosed press release with respect to H1 & Q2 FY27 Financial Results. This is for your information and record. Yours truly, For Vaibhav Global Limited Yashasvi Pareek Company Secretary & Compliance Officer M. No.: A39220 Encl: as above Registered Office: E-69, EPIP, Sitapura Industrial Area, Jaipur-302022, Rajasthan, India • Phone: +91-141-2770648; +91-141-2771975 CIN: L36911RJ1989PLC004945 • Email: investor_relations@vaibhavglobal.com • Website: www.vaibhavglobal.com PRESS RELEASE VGL Completes Platform Transition, Focuses on Restoring Digital Momentum and Improving Operating Leverage JAIPUR, India, 28 October 2026 -- Vaibhav Global Limited ("VGL") (NSE: VAIBHAVGBL; BSE: 532156), a vertically integrated electronic retailer of fashion jewellery, accessories and lifestyle products, today reported results for the second quarter and half year ended 30 September 2026. Mr. Sunil Agarwal, Managing Director, Vaibhav Global Limited, said:" Q2 FY27 was a quarter of transition as we completed the migration of our channel websites from Salesforce Commerce Cloud to Shopify Enterprise. During the stabilisation phase, temporary integration-related challenges, including customer account reactivation, optimisation of search and merchandising functionality, and SEO re-indexing, impacted digital conversion and revenue. In the UK, we also consolidated four warehouses and two studios into a single, larger headquarters. While the transition was completed smoothly, some inventory remains temporarily offline, limiting product availability and customer choice. Despite these near-term challenges, our European business delivered growth in constant currency, our B2B business recorded strong growth, and total revenue for the first half grew close to 10%. With the transition substantially behind us, we now have a unified, cloud-based and scalable platform supporting our brands and geographies. Our focus is on restoring digital momentum, strengthening customer acquisition and improving operating leverage as we enter our seasonally strongest quarters. We believe the new platform provides a stronger foundation for accelerating digital growth and driving sustainable, profitable growth in the periods ahead.,” • Revenue Growth: Revenue from operations increased 7.0% to ₹938.4 crore in Q2 FY27. H1 FY27 revenue grew 9.7% to ₹1,855.4 crore. • EBITDA Performance: Q2 FY27 EBITDA stood at ₹76.2 crore, with an EBITDA margin of 8.1%. H1 FY27 EBITDA increased 9.6% to ₹178.3 crore, with the margin of 9.6%. • United States: Q2 FY27 Revenue stood at ₹ 500.0 crore, increased by 4.3% in rupee terms and declined 4.1% in constant currency. • United Kingdom: Q2 FY27 Revenue stood at ₹257.2 crore increased by 2.3% in rupee terms and declined 7.0% in constant currency. • Europe (excluding UK): Q2 FY27 Revenue stood at ₹110.0 increased by 18.3% in rupee terms and 8.0% in constant currency. • B2B Business: Q2 FY27 Revenue stood at ₹70.9 crore grew 32.4%, while EBITDA stood at ₹ 42.4 crore increased 18.5% YoY • In-house Brands: In-house brands contributed 57% of B2C revenue. • Digital Business: eCommerce contributed 42.4% of B2C revenue, compared with 42.8% in Q2 FY26 and 45.1% in Q1 FY27. All retail businesses have now migrated to Shopify Enterprise. Regd. Office: E-69, EPIP, Sitapura Industrial Area, Jaipur – 302022, Tele: 91-141-2771975; CIN : L36911RJ1989PLC004945; Email: investor_relations@vaibhavglobal.com, Web: www.vaibhavglobal.com Discussion of Results Unless otherwise noted, the following discussion compares financial information for the three months ended 30 September 2026 (Q2 FY27) to the same period in 2025 (Q2 FY26), and for the six months ended 30 September 2026 (H1 FY27) to the same period in 2025 (H1 FY26). SECOND QUARTER AND HALF YEAR FY27 FINANCIAL RESULTS Quarter ended 30 September Six months ended 30 September % Change % Change Q2 FY27 Q2 FY26 Const. H1 FY27 H1 FY26 Const. Change Change (Rs. in lacs) Currency Currency Revenue United States of America 50,004 47,924 4.3% (4.1)%* 1,03,007 93,886 9.7% (0.3)%* United Kingdom 25,719 25,135 2.3% (7.0)%* 50,527 47,786 5.7% (4.0)%* Europe (excluding United Kingdom) 11,023 9,318 18.3% 8.0%* 21,325 17,965 18.7% 7.0%* Total Retail (B2C) 86,746 82,377 5.3% (3.2)%** 1,74,859 1,59,637 9.5% (0.5)%** B2B revenue(a) 7,090 5,355 32.4% 10,685 9,469 12.9% Total VGL Revenue from 93,837 87,732 7.0% (1.7)%** 1,85,544 1,69,105 9.7% (0.3)% operations EBITDA(b) United States of America 2,868 3,111 (7.8)% (15.1)%* 8,659 6,932 24.9% 13.5%* United Kingdom 733 2,206 (66.8)% (69.9)%* 1,922 3,441 (44.1)% (49.3)%* Europe (excluding United Kingdom) (218) (86) NM NM (75) (664) NM NM Total Retail (B2C) 3,383 5,230 (35.3)% 10,507 9,709 8.2% B2B EBITDA 4,242 3,581 18.5% 7,322 6,563 11.6% Total VGL EBITDA 7,625 8,811 (13.5)% 17,829 16,273 9.6% Total VGL EBITDA margin (%) 8.1% 10.0% (191) bps 9.6% 9.6% 0 bps Note: * United States, United Kingdom and Europe constant currency change in local currency ** Constant currency change in dollar denominations a) B2B revenue represents revenue from sourcing locations, net of inter-segment eliminations. b) EBITDA is earnings before interest, tax, depreciation and amortization, as presented in the consolidated segment information. EBITDA margin is EBITDA divided by revenue from operations. NM Not meaningful (current or prior period is a loss). Figures may not add due to rounding. Page | 2 Regd. Office: E-69, EPIP, Sitapura Industrial Area, Jaipur – 302022, Tele: 91-141-2771975; CIN : L36911RJ1989PLC004945; Email: investor_relations@vaibhavglobal.com, Web: www.vaibhavglobal.com SECOND QUARTER AND HALF YEAR FY27 SUPPLEMENTAL METRICS Quarter ended 30 September Six months ended 30 September (unless otherwise noted) Q2 FY27 Q2 FY26 Change H1 FY27 H1 FY26 Change United States of America EBITDA margin (%) 5.7% 6.5% (76) bps 8.4% 7.4% 102 bps Units sold ('000) 1,391 1,328 4.8% 2,747 2,640 4.1% eCommerce % of total revenue(e) 44.0% 45.1% (110) bps 45.5% 46.0% (50) bps United Kingdom EBITDA margin (%) 2.9% 8.8% (590) bps 3.8% 7.2% (340) bps Units sold ('000) 897 953 (5.9)% 1,714 1,782 (3.8)% eCommerce % of total revenue(e) 36.5% 36.0% 50 bps 37.6% 36.4% 120 bps Europe (excluding United Kingdom) EBITDA margin (%) (2.0)% (0.9)% (105) bps (0.3)% (3.7)% 335 bps Units sold ('000) 381 342 11.5% 711 639 11.2% eCommerce % of total revenue(e) 48.8% 49.2% (40) bps 49.9% 50.9% (100) bps Total Retail (B2C) eCommerce % of B2C revenue(e) 42.4% 42.8% (4) bps 43.7% 43.7% 0 bps Group Performance Revenue from operations increased 7.0% to ₹938.4 crore in Q2 FY27, supported by 5.3% growth in retail (B2C) revenue and 32.4% growth in B2B revenue. Reported revenue growth benefited from favorable foreign exchange movements, with the Indian Rupee weakening by approximately 9% against the US Dollar and 10% against both the British Pound and the Euro. Accordingly, constant currency growth is also presented for the overseas retail segments to provide a clearer view of underlying business performance. EBITDA stood at ₹76.2 crore, with the EBITDA margin at 8.1%. The year-on-year decline primarily reflected sales deleverage in the US and UK amid the transition to Shopify Enterprise, continued investment in digital customer acquisition and the non-recurrence of a foreign exchange gain recognized in Europe in Q2 FY26. These factors were partially offset by higher B2B EBITDA. For H1 FY27, EBITDA increased 9.6 % to ₹178.3 crore, with the EBITDA margin of 9.6%. Page | 3 Regd. Office: E-69, EPIP, Sitapura Industrial Area, Jaipur – 302022, Tele: 91-141-2771975; CIN : L36911RJ1989PLC004945; Email: investor_relations@vaibhavglobal.com, Web: [Showing first 8,000 characters — download PDF for full document]