ESG Rating Update
ICRA ESG Ratings has revised Vaibhav Global Limited's Combined ESG Rating to '75 (Strong)' from '74 (Strong)'.
Reason for Upgrade
The rating upgrade follows ICRA ESG's review of VGL's recent developments, including the publication of its FY26 Business Responsibility and Sustainability Report (BRSR). This publication is considered a material event under applicable SEBI regulations.
Rating Rationale
The upgrade reflects VGL's continued progress across environmental, social and governance initiatives. This progress is supported by the company's focus on sustainability, responsible business practices, strong governance and enhanced ESG disclosures.
Management Commentary
Mr. Aswini Agarwal, Head of Supply Chain at Vaibhav Global Limited, stated: "We are pleased with the recognition of our continued ESG progress. The upgrade to 75, while retaining the 'Strong' rating, reflects our ongoing focus on responsible business practices, sustainability and robust governance. We remain committed to strengthening our ESG performance and creating long-term value for all our stakeholders."
Company Background
Vaibhav Global Limited is an omni-channel E-tailer of fashion jewellery, accessories, and lifestyle products in developed markets with direct access to approximately 127 million households (FTE) through its TV home shopping networks. The company operates Shop LC in US, Shop TJC & Ideal World in UK, and Shop LC in Germany. The Company's ecommerce websites include www.shoplc.com & https://mindfulsouls.com/ in the US, www.tjc.co.uk & www.idealworld.tv/ in the UK, and www.shoplc.de in Germany.
Corporate Social Responsibility
Through its flagship midday meal program 'Your Purchase Feeds…' where a meal is provided for every piece sold at the retail channels, the Company has provided over 103 million meals in US, UK, Germany, and India at a run rate of approximately 57,000 meals being donated every school day since the program's inception.