| Metric | Value (₹ Cr) | Q2 FY26 | Q3 FY25 |
|---|---|---|---|
| Revenue | 12.14 | 56.4% | 104.3% |
| Total Income | 33.77 | 1.6% | 18.2% |
| Expenditure | 14.82 | 4.5% | 53.7% |
| PBT | 18.95 | 0.8% | 651.5% |
| Net Profit | 5.35 | 47.6% | 177.0% |
| OPM | -12.14% | 61.89pp | |
| NPM | 15.84% | 13.91pp | 40.15pp |
| EPS | 7.36 | 85.9% | 348.6% |
Varvee Global Reports Positive Q3FY26 Growth: Triple-Digit Revenue Gains and ~85% 9M Gross Margins
13 Feb 2026 · 13 Feb, 5:58 pm
Summary
Varvee Global Limited has announced its financial results for the quarter (Q3 FY26) and nine months ended December 31, 2025 (9M FY26), marking a strategic inflection point with a high-velocity growth phase, characterized by sector-leading margins and a fortified capital structure.
Key Highlights
- 1
The Company achieved a significant 9M EBITDA turnaround, reaching ₹1,125.49 lakh compared to a loss of ₹3,820.25 lakh in the prior-year period.
- 2
VGL’s deliberate shift away from legacy, commoditized denim toward value-added Non- Denim Shirtings and Suitings is now reflected in its 9M Gross Margin of 84.49%, a turnaround from a negative margin last year.
- 3
While 9M revenue grew 12.78%, 9M PAT surged by 71.67% to ₹4,104.10 lakh.
- 4
Employee expenses for the 9-month period were reduced by 48.69% YoY to ₹307.67 lakh.
- 5
Finance costs for Q3 were effectively eliminated, a 99.99% reduction from Q3 FY25, following the full retirement of high-cost legacy debt.
- 6
In a major institutional milestone, India Ratings and Research assigned an ‘IND BB/Positive’ issuer rating to VGL on January 28, 2026.
- 7
On January 5, 2026, VGL announced a 50% increase in production capacity for Non-Denim fabrics, scaling from 12 lakh to 18 lakh meters per month.
Management Comments
Mr. Jaimin Gupta
Chairman & Managing Director
Our Q3 and 9M results reflect a fundamental turnaround in VGL’s earning capability. By delivering SM gross margins of 84.5% and achieving a positive 9M EBITDA, we have proven that our focus on premium non-denim fabrics is the correct path for long-term growth. The assignment of a 'Positive’ rating outlook from India Ratings marks our transition into a more stable, institutional-grade financial profile. We are now aggressively scaling; our expansion to 18 lakh meters per month is just the first step toward our 50- lakh-meter goal. We remain committed to compounding free cash flow and maintaining a debt-free balance sheet as we capture the expanding opportunities in the Indian textile market.”
Informational and educational content only. Not investment advice.