Varvee Global Limited · NSE:VGL
Varvee Global — H1 FY2026 Earnings Presentation
26 slides from Varvee Global's earnings presentation, Nov 12, 2025
Slide 1: Exchange filing cover letter for investors' presentation
Date:12th November,2025 To, The Manager (Lis ng) The Manager (Lis ng) The Na onal Stock Exchange of India Ltd The Bombay Stock Exchange Ltd. “Exchange Plaza” PhirozeJeejeebhoy Towers, Bandra-Kurla Complex Dalal Street, Mumbai – 400 051 Mumbai – 400 001 Company Code: 514274 (BSE) Company Code: VGL (N
Slide 2: Investor Briefing Q2 & H1 FY26
INVESTOR BRIEFING Q2 & H1 FY26
Slide 3: Table of Contents
TABLE Body OF CONTENTS 01-4 05-09 10-13 Section 1: Section 2: Section 3: AT A BUSINESS OUR VISION GLANCE SEGMENTS & CAPACITY REPOSITIONING Safe Harbour Statement This presentation may contain forward‑looking statements, which are based on currently available information, operating plans and future e
Slide 4: At a Glance
1a. AT A GLANCE Body Repositioned Integrated Textile Manufacturer, Anchored by a Clean Balance Sheet. Varvee Global Limited (formerly AARVEE Denims and Exports Limited) is an integrated textile manufacturer specializing in denim, non- denim, shirting, and suiting fabrics, operating primarily from it
Slide 5: Investment Rationale: The Turnaround Thesis
1b. Investment Rationale: Body THE TURNAROUND THESIS High-Potential Asset Base Combined with Financial and Management Reset. Pillar Evidence Key Takeaway Debt-Free Advantage: Bank debt fully Superior Conversion: Expectation repaid as of June 3, 2025. This removes the of highly efficient EBITDA-to-PA
Slide 6: Financial Performance Snapshot
1c. Financial Performance Snpashot Body FORTIFIED BALANCE SHEET Focusing on post-restructuring potential and Q1-Q2FY26 visibility. DRIVING HIGH EBITDA-TO-PAT Financial Cost Moats (Quality of Earnings) CONVERSION. Zero Interest: All bank loans repaid as of June 2025. Low Depreciation: Machinery is no
Slide 7: Timeline & Key Inflection Points
1d.TIMELINE & KEY INFLECTION POINTS Rapid Execution of Turnaround Strategy (Q4 FY25 – Q1 FY26). Milestone / Event Significance Share Purchase Agreement (SPA) Formalizes acquisition by Mr. Jaimin Kailash Sep 5, 2024 Executed Gupta and PACs. Clean slate established, removing 3 Jun 2025 Achieved Bank D
Slide 8: Section 2: Business Segments & Capacity Repositioning
Section 2: BUSINESS SEGMENTS & CAPACITY INTEGRATED REPOSITIONING 2a. MANUFACTURING CAPABILITY OVERVIEW OF PRODUCT PORTFOLIO 2b. AND CAPABILITIES STRATEGIC CAPACITY & 2c. PRODUCT MIX SHIFT 18MM 35MM MANUFACTURING & NON-DENIM FABRIC DENIM FABRIC 2d. TECHNOLOGY FORTRESS 05-09
Slide 9: Business Segments & Capacity Repositioning
2a. Business Segments & Capacity Body Repositioning A B C INTEGRATED MANUFACTURING OVERVIEW OF PRODUCT STRATEGIC CAPACITY & CAPABILITY PORTFOLIO AND PRODUCT MIX SHIFT CAPABILITIES Centralized Physical Footprint (The Narol Unit) Varvee operates an end-to-end, vertically integrated platform at the VAR
Slide 10: Overview of Product Portfolio & Capabilities
2b. Overview of Product Body Portfolio & Capabilities Denim Product Differentiation The company offers a detailed denim portfolio, including: • Satin Denims • High Fashion Denims • Flat Finish Denims • Denims incorporating LYCRA dualFX Technology Non-Denim Product Specifics The non-denim range inclu
Slide 11: Capital Reallocation Strategy
2c.Capital Realloaction Strategy Historical Annual Utilization / New Target Capacity Fabric Type Capacity Focus Goal Capacity being 35 Million Meters Reduced reliance on Denim Fabric diverted to non- (MM) core denim denim production Currently operating Targeted expansion 18 Million Meters at ~90% ut
Slide 12: Manufacturing & Technology Fortress
2d. Manufacturing & Technology Fortress OPERATIONAL The Narol unit forms the sharpened manufacturing footprint utilized by the new management. EFFICIENCY DRIVEN • Integrated Workflow: In-house capabilities from raw BY VERTICAL yarn to finished fabric streamline the supply chain. INTEGRATION AND • Co
Slide 13: Section 3: Our Vision
Section 3: Our Vision 3a. BOARD OF DIRECTORS 3b. MANAGEMENT’S COMMENTARY +79.80% +6098 BPS 3c. BLURPRINT FOR NEXT- REVENUE FROM GROSS MARGIN DECADE VALUE OPERATIONS GROWTH FOR Q2FY26 CHANGE FOR H1 FY26 CREATION 10-13
Slide 14: Board of Directors
3a. BOARD OF DIRECTORS Body Mr. Kandarp Independent Director Practicing Chartered Accountant and certified Mr. Jaimin Gupta Information Auditor with 20 years’ experience. Chairman & Managing Director Specializes in debt financing, investment planning, and governance advisory. Visionary entrepreneur
Slide 15: Our Vision
3b. Our Vision Body "This is the first full quarter with the new leadership playbook at work where results are visible in the margin reset, the EBITDA swing, and the near-elimination of finance costs. Gross Profit rose to ₹155.25 million in Q2 FY26 (↑476% YoY) and ₹180.58 million in H1 FY26 (↑1,093%
Slide 16: Blueprint for Next-Decade Value Creation
3c. Blueprint for Body Next-Decade Value Creation Strategic Lever Action Plan Value Catalyst Diversify aggressively into Lifts blended margins and Product Portfolio value-added shirting and provides resilience against suiting fabrics. denim market fluctuations. Captures opportunities in Focus on exp
Slide 17: Section 4: Market Opportunity (TAM) & Demand Flywheels
Body 4a MARKET OPPORTUNITY & EXPORT TAILWINDS (TAM) 4b STRUCTURAL DEMAND FLYWHEELS Section 4: Market Opportunity (TAM) & Demand Flywheels 4c STRATEGIC IMPLICATIONS FOR VARVEE GLOBAL LTD. 14-18
Slide 18: Market Opportunity & Export Tailwinds (TAM)
4a. Market Opportunity & Body Export Tailwinds (TAM) Total Addressable Market (TAM) Overview Metric Value / Forecast Period / CAGR USD 146.55 billion (IMARC / Indian Textile Market Size (2024) GrandViewResearch range: 2024 USD 146–222 billion) USD 213.5 billion Indian Textile Market (Conservative) →
Slide 19: Structural Demand Flywheels
4b. Structural Demand Flywheels Body 1. China Plus One Advantage Global sourcing diversification continues to shift textile volumes toward India, supported by cost efficiency, ESG compliance, and technical capability, particularly in shirting and suiting categories, where Varvee Global is scaling pr
Slide 20: Strategic Implications for Varvee Global Ltd.
4c. Strategic Body Implications for Varvee Global LTD. Diversification Beyond Denim: Strategic capacity shift toward shirting & suiting to capture incremental demand and reduce seasonal volatility. Export-Ready Cost Structure: India’s tariff-free access to the UK and cost competitiveness in the EU a
Slide 21: Section 5: Quarterly Updates
Section 5: Quarterly updates 5a QUARTERLY FINANCIAL HIGHLIGHTS · In the first full quarter under the new management team, the Company delivered a 79.8% YoY rise in Revenue 5b PROFIT & LOSS from Operations, a swing to positive EBITDA of ₹138.46 STATEMENTS & BALANCE million with 49.75% margin, and nea
Slide 22: Q2 & H1 FY2026 Standalone Financial Highlights
5a. Q2 & H1 FY2026 STANDALONE FINANCIAL HIGHLIGHTS Body Margin reset firmly in place: Q2 gross margin expanded +3,836 bps to 55.78% (H1: +6,098 bps to 66.20%), reflecting improved pricing, richer mix, and tighter input discipline. EBITDA swing with premium profitability: Q2 EBITDA turned positive to
Slide 23: Q2FY26 Standalone Profit & Loss Statement
5b. Q2FY26 Standalone Profit & Loss Statement Body (Figures in Rs. Millions) Particulars Q2FY25 Q2FY26 YOY Revenue From Operation 154.79 278.31 79.80% COGS 113.17 83.28 -26.42% Gross Profit 26.96 155.25 475.8o% Gross Margin % 17.42% 55.78% 3836 bps Employee Expenses 21.02 9.57 -54.45% Other Expenses
Slide 24: H1 FY2026 Standalone Profit & Loss Statement
5bi. H1 & FY2026 Standalone Profit & Loss Statement Body (Figures in Rs. Millions) Particulars H1FY25 H1FY26 YOY Revenue From Operation 290.1 272.79 -5.97% COGS 236.22 27.23 -88.47% Gross Profit 15.13 180.58 1093.38% Gross Margin % 5.22% 66.20% 6098 bps Employee Expenses 46.61 20.22 -56.62% Other Ex
Slide 25: Standalone Balance Sheet
5bii. Standalone Balance Sheet (Figures in Rs. Millions) Body Particulars H1 FY26 FY25 Particulars H1 FY26 FY25 ASSETS Liabilities Non-Current Assets Non-Current Liabilities Property, Plant and Equipment 6598.57 6821.84 Financial Liabilities Intangible Assets 1.1 1.1 Non Current Borrowings 2290.4 48
Slide 26: Thank You
Connect with us at: Company Secretary cs@varveeglobal.com Shankhini Saha - Investor Relations varvee@dickensonworld.com THANK YOU