Varvee Global Limited · NSE:VGL
Varvee Global — Q3 FY26 Earnings Presentation
25 slides from Varvee Global's earnings presentation, Feb 16, 2026
Slide 1: Exchange cover letter for investor presentation
Date:16th February,2026 To, The Manager (Listing) The Manager (Listing) The National Stock Exchange of India Ltd The BSE Limited. “Exchange Plaza” PhirozeJeejeebhoy Towers, Bandra-Kurla Complex Dalal Street, Mumbai – 400 051 Mumbai – 400 001 Company Code: 514274 (BSE) Company Code: VGL (NSE) Sub.: I
Slide 2: Investor Briefing Q3 & 9M FY26
INVESTOR BRIEFING Q3 & 9M FY26 Body
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 Safe Harbour Statement REPOSITIONING This presentation may contain forward‑looking statements, which are based on currently available information, operating plans and future e
Slide 4: 1a. 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: 1b. 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: 1c. Financial Performance Snapshot
1c. Financial Performance Snpashot Body FORTIFIED BALANCE SHEET Financial Cost Moats (Quality of Earnings) DRIVING HIGH EBITDA-TO-PAT In a major institutional milestone, India Ratings and Research assigned an ‘IND BB/Positive’ issuer rating to VGL on January 28, 2026. CONVERSION. This follows the wi
Slide 7: 1d. Timeline & Key Inflection Points
1d.TIMELINE & KEY INFLECTION POINTS Rapid Execution of Turnaround Strategy (Q4 FY25 – Q3 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 On January 5, 2026, we announced a 50% 2b. AND CAPABILITIES increase in production capacity for Non-Denim fabrics: STRATEGIC CAPACITY & 12 lakh to 18 lakh meters 2c. PRODUCT MI
Slide 9: 2a. 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: 2b. 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: 2c. Capital Reallocation Strategy
2c.Capital Realloaction Strategy Utilization / New Target Capacity Fabric Type Annual Capacity Focus Goal Capacity being 35 lakh metres per Reduced reliance on Denim Fabric diverted to non- month core denim denim production Targeted expansion to 50 lakh metres 18 lakh metres per Room for further Non
Slide 12: 2d. 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 +12.78% +71.67% 3c. BLURPRINT FOR NEXT- DECADE VALUE REVENUE FROM P RO F I T A F T E R TA X OPERATIONS F RO M G ROW T H GROWTH FOR CREATION FO R 9 M F Y 2 6 9MFY26 10-13
Slide 14: 3a. 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: 3b. Our Vision
3b. Our Vision Body "“Our Q3 and 9M results reflect a fundamental turnaround in VGL’s earning capability. By delivering 9M 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
Slide 16: 3c. 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: 4a. 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: 4b. 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: 4c. 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 its second full quarter under the new management team, the Company reported a 104.3% year-on-year growth in Revenue from Operations. 5b PROFIT & LOSS STATEMENTS (PG 21-24) The EBITDA deficit has been significantly reduced from ₹226.01
Slide 22: 5a. Q3 & 9M FY2026 Standalone Financial Highlights
5a. Q3 & 9M FY2026 STANDALONE FINANCIAL HIGHLIGHTS Body Margin reset firmly established: Q3 gross margin expanded by 30,248 basis points to 59.43% (9M: up 11,038 basis points to 84.49%), driven by improved pricing, a richer product mix, and tighter input cost discipline. EBITDA turnaround with premi
Slide 23: 5b. Q3FY26 Standalone Profit & Loss Statement
5b. Q3FY26 Standalone Profit & Loss Statement Body (Figures in Rs. Millions) Particulars Q3FY25 Q3FY26 YOY Revenue From Operation 59.4 121.36 104.30% COGS 203.78 49.23 -75.84% Gross Profit -144.37 72.13 149.96% Gross Margin % -243.05% 59.43% 30248 bps Employee Expenses 13.35 10.55 -21.00% Other Expe
Slide 24: 5bi. 9M FY2026 Standalone Profit & Loss Statement
5bi. 9M FY2026 Standalone Profit & Loss Statement Body (Figures in Rs. Millions) Particulars 9MFY25 9MFY26 YOY Revenue From Operation 349.5 394.15 12.78% COGS 440 61.15 -86.10% Gross Profit -90.5 333 467.97% Gross Margin % 25.89% 84.49% 11038 bps Employee Expenses 59.96 30.77 -48.69% Other Expenses
Slide 25: Thank You
Connect with us at: Company Secretary cs@varveeglobal.com Shankhini Saha - Investor Relations varvee@dickensonworld.com THANK YOU