Date: October 08, 2026

Revenue Update

  • The Company reported revenue growth of 22.4% YoY in Q2 FY27 despite the shift in Navratri festive period to Q3 this year
  • Retail segment grew 31.1% YoY with robust same-store sales growth (SSSG) of 25.5% YoY
  • Retail segment contributed 77.3% of total revenue, significantly higher on YoY basis
  • Franchise business grew 34.7% YoY
  • E-commerce declined 83.6% YoY due to strategic recalibration of product mix, reducing low-margin coin sales
  • Share of gold coin & bar sales in retail revenue normalized to ~15.8% compared to ~23.3% in same quarter previous year
  • Raksha Bandhan sales showed strong growth: 114% increase in pieces sold and 142% increase in value compared to same quarter previous year

Sales Mix

  • Gold revenue grew 23.5% YoY
  • Diamond revenue grew 21.0% YoY
  • Silver revenue grew 12.0% YoY
  • Retail stud ratio improved to 11.8% for the quarter compared to 9.0% in same quarter previous year
  • Northern region achieved stud ratio of 17.4%
  • Share of old gold exchange increased to 38% of sales in Q2 FY27 compared with 29% in Q2 FY26

Operational Highlights

  • Company transitioned LiteStyle to YOOU brand for contemporary jewelry positioning
  • Opened 2 new stores: one Legacy store in Gurugram and one YOOU store in Amanora Mall, Pune
  • Total store count as of September 30, 2026: 80 stores (79 in India and 1 in U.S.A.)
  • Focus on strengthening existing store network and accelerating site identification for expansion

Outlook for FY27

  • Plan to open ~23 new stores during FY27, targeting total store count of ~103 stores by year-end
  • Expansion will be phased over remaining two quarters with franchise-led strategy
  • Ayodhya store expected to open by mid-October
  • Prayagraj store expected to open by early November
  • 10 store commitments already secured: 6 Legacy and 4 YOOU stores
  • Several more opportunities in pipeline across Northern and Central regions of India
  • Strategic expansion focus on Northern & Central Region while strengthening operational excellence in Maharashtra

Additional Information

  • Results are subject to limited review by Statutory Auditors
  • Detailed information update will follow upon approval by Board of Directors
  • Revenue figures represent revenue from sale of goods
  • Company established in 1832 with 194 years of heritage
  • Offers gold, silver, diamond, and platinum jewelry for weddings, festivals, and daily wear
  • Operates under leadership of Chairman & Managing Director Dr. Saurabh Gadgil