Business Overview

Advit Jewels Limited is engaged in design, manufacturing and sale of traditional and contemporary jewelry with focus on Kundan, Polki, Diamond & Studded Jewellery. The company operates from Jaipur, Rajasthan, and follows an integrated business model with in-house design, manufacturing, stone setting, polishing and quality control processes. Primarily serves jewelry retailers and dealers through B2B model while also catering to select customers through customized orders. Promoters are associated with jewelry business with roots dating back to 1921.

Financial Performance (₹ in Lakh)

Income Statement Highlights:

  • Revenue from Operations: FY24 - ₹6,944.26, FY25 - ₹12,493.73, FY26 - ₹16,701.56, Q4 FY26 - ₹4,322.55
  • EBITDA: FY24 - ₹1,895.17 (27.29%), FY25 - ₹3,714.67 (29.73%), FY26 - ₹4,923.80 (29.48%), Q4 FY26 - ₹1,255.56 (29.04%)
  • PAT: FY24 - ₹1,471.04 (21.18%), FY25 - ₹2,536.71 (20.30%), FY26 - ₹3,438.79 (20.59%), Q4 FY26 - ₹874.05 (20.22%)
  • Finance Costs: FY24 - ₹79.90, FY25 - ₹582.51, FY26 - ₹645.23, Q4 FY26 - ₹141.57

Balance Sheet Highlights:

  • Equity Share Capital: FY24 - ₹1.00, FY25 - ₹1.00, FY26 - ₹3,201.00
  • Total Equity: FY24 - ₹3,280.29, FY25 - ₹5,812.01, FY26 - ₹9,259.25
  • Total Borrowings (Current + Non-current): FY24 - ₹1,969.51, FY25 - ₹7,479.84, FY26 - ₹7,102.23
  • Inventories: FY24 - ₹4,491.67, FY25 - ₹10,723.91, FY26 - ₹13,819.93

Cash Flow Statement:

  • Cash Flow from Operating Activities: FY24 - (₹1,049.33), FY25 - (₹3,697.69), FY26 - ₹1,333.17
  • Cash Flow from Investing Activities: FY24 - (₹202.26), FY25 - (₹1,326.38), FY26 - (₹667.00)
  • Cash Flow from Financing Activities: FY24 - ₹1,379.32, FY25 - ₹4,902.12, FY26 - (₹903.09)

Operational Metrics

Production Capacity:

  • Annual Installed Capacity (gold): 400 kg consistently across FY24-FY26
  • Capacity Utilization: FY24 - 43.02%, FY25 - 45.86%, FY26 - 31.45%
  • Actual Production: FY24 - 172.072 kg, FY25 - 183.438 kg, FY26 - 125.79 kg
  • Quantity Sold: FY24 - 187.62 kg, FY26 - 241.51 kg

Customer Metrics:

  • Number of Customers: FY24 - 260, FY25 - 258, FY26 - 274
  • Revenue per Customer: FY24 - ₹26.71 lakh, FY25 - ₹48.24 lakh, FY26 - ₹60.96 lakh
  • Geographic Coverage: 21 states consistently across FY24-FY26
  • Top 10 Customer Concentration: Reduced from 75.47% in FY23 to 52.69% in FY26

Employee Base:

  • Total Employees: FY24 - 21, FY25 - 68, FY26 - 118

Manufacturing Facility

  • Location: Jaipur, Rajasthan
  • Built-up Area: 6,450 sq ft
  • Equipment: 3D printers, casting machines, jewelry manufacturing equipment
  • Workforce: 35 skilled artisans for handcrafted jewelry production
  • Processes: Design, casting, stone setting, polishing & finishing

Quality Control Framework

Multi-stage quality assurance including:

  • Order verification against approved design specifications
  • Micro and normal inspections after stone setting
  • Metal purity verification (14K/18K), weight, dimensions & design alignment
  • Microscope checks for stone placement and finishing accuracy
  • CVD testing machines for diamond and polki authenticity
  • Final QC supervisor approval before dispatch

Sales and Distribution

  • B2B Contribution: 80.18% of FY26 total revenue
  • B2C: Through display center and appointment-based consultations
  • Export Revenue: ₹160.63 lakh in FY26 (0.96% of total revenue)
  • Marketing: Participation in jewelry exhibitions (Couture India, JAS), social media, partnerships with wedding planners and designers

Social Media Presence (as of July 21, 2026)

  • Instagram: 107,000 followers
  • Facebook: 2,400 followers

Board of Directors & Key Managerial Personnel

  • Mr. Nitin Gilara: Chairman & Managing Director (26 years experience)
  • Mr. Prateek Gilara: Whole Time Director (18 years experience)
  • Mr. Vipul Gilara: Whole Time Director (14+ years experience)
  • Mr. Krishna Gilara: Non-executive Director
  • Mr. Sidharth Bafna: Independent Director
  • Mr. Amit Bardia: Independent Director
  • Mr. Divyank Bader: Independent Director
  • Ms. Arzoo Mantri: Independent Director
  • Mr. Deepesh Sharma: Chief Financial Officer
  • Ms. Pratibha Soni: Company Secretary Cum Compliance Officer

Future Outlook

  • Enhance financial capabilities for working capital and inventory procurement
  • Continued focus on creative designs and industry exhibition participation
  • Geographic expansion across high-potential markets in India
  • Flagship store development in Jaipur (27,790 sq ft constructed area)
  • Strengthening brand visibility through digital platforms and trade fairs

Key Ratios (FY26)

  • Return on Equity (ROE): 45.63%
  • Return on Capital Employed (ROCE): 29.39%
  • Debt to Equity: 0.77
  • Current Ratio: 2.21
  • Inventory Turnover Ratio: 1.21
  • Trade Receivables Turnover Ratio: 18.56

Industry Context

  • Indian gems and jewelry retail market valued at USD 80-85 billion in FY2024, projected to reach USD 140-155 billion by FY2028
  • India's gold jewelry consumption: 563.4 tonnes in CY2024 (world's largest consumer)
  • India processes approximately 75% of world's polished diamonds
  • Organized segment expected to grow from 36-38% market share in FY2024 to 42-43% by FY2028