VAIBHAVGBL Q1 FY27 Guidance vs Delivery (VAIBHAVGBL Management Mirror)

FY27 Revenue Guidance Reaffirmed at 9-11% Growth; EBITDA Margin Expected to Expand 50-100 bps Over FY26

In the Dec'25 Qtr concall, management guided FY27 consolidated revenue growth of 9% to 11% with an EBITDA margin of 10.5% to 11%, incorporating an expected FX benefit from rupee depreciation in H1 FY27. During the Mar'26 Qtr concall, the FY27 revenue growth target was maintained at 9% to 11% in INR terms, while EBITDA margin guidance was revised to an expansion of 50 to 100 basis points, driven by gross margin and human resource cost efficiencies. In the Jun'26 Qtr concall, management reaffirmed this FY27 guidance of 9% to 11% revenue growth and 50 to 100 basis points of EBITDA margin expansion over FY26. Additionally, medium-to-long term guidance was reiterated at 12% to 15% revenue growth, maintaining an FY30 vision of reaching INR 5,000 to INR 5,500 crores in revenue.