This document is an intimation to the stock exchanges (BSE Ltd. and National Stock Exchange of India Ltd.) under SEBI LODR Regulation 30, submitting an Investor Presentation that was discussed in a results conference call held on July 21, 2026.

Key Operational and Financial Highlights (Standalone)

  • Revenue: ₹7,331.9 million for Q1 FY27, representing a 48.8% Year-over-Year (YoY) growth from ₹4,925.8 million in Q1 FY26 and a 6.6% Quarter-over-Quarter (QoQ) growth from ₹6,876.6 million in Q4 FY26.
  • Gross Profit: ₹2,981.1 million for Q1 FY27, a 47.4% YoY growth. Gross Margin was 40.7%, a decrease of 39 basis points (bps) YoY.
  • Reported EBITDA: ₹1,102.0 million for Q1 FY27, a 94.8% YoY growth. Reported EBITDA Margin was 15.0%, an expansion of 354 bps YoY.
  • Inventory Gain: The quarter included an inventory gain of ₹248.5 million.
  • Pre-Ind AS EBITDA (excl. inventory gain): ₹547.7 million for Q1 FY27, a 134.6% YoY growth. The corresponding margin was 7.5%, an expansion of 273 bps YoY.
  • Adjusted PAT: ₹137.6 million for Q1 FY27, compared to a loss of ₹(212.6) million in Q1 FY26.
  • Same Store Sales Growth (SSSG): 39.0% YoY for Q1 FY27.
  • Store Count: 352 stores as of June 30, 2026, a net addition of 12 stores quarter-on-quarter.
  • Repeat Revenue Ratio: 59.7% for Q1 FY27.
  • Advertising Spends: 6.9% of revenue for Q1 FY27.

Business Overview and Strategy

  • Market Position: The company describes itself as India's second-largest 'digital first' omni-channel jewellery player, claiming a 28-32% market share among omni-channel players in FY25.
  • Omnichannel Strategy: The presentation emphasizes a strategy of scaling revenue by increasing store density in existing cities to enhance brand trust and improve conversion economics.
  • Geographic Presence: The company services over 12,660 PIN codes and has a presence in 139 towns and cities as of June '26.
  • Product & Expansion: The company highlights over 10,000 designs, in-house manufacturing for over 95% of jewellery, and expansion into Men's and Kids' categories with dedicated stores.
  • Technology: The company positions itself as digitally native with an in-house integrated tech stack, featuring best-in-class tech like 3D rendering.
  • ESOP Impact: The presentation notes that ESOP expenses are front-loaded and are expected to taper significantly from FY26 to FY30, with an unallocated pool of ~2.6 million shares (~1.7% equity) remaining for future requirements.

Financial Snapshot and Databook

Detailed standalone financials are provided for Q1 FY27, Q1 FY26, Q4 FY26, FY26, and FY25, including:

  • Contribution Profit and Margin
  • Line items for Employee Benefit Expense (₹738.2 mn, including ESOP expense of ₹184.3 mn), Finance Costs (₹547.4 mn), and Depreciation & Amortization (₹591.4 mn).
  • A full Profit & Loss statement is included for both standalone and consolidated entities.

Consolidated Financials (Summary)

  • Consolidated Revenue: ₹7,368.46 million for Q1 FY27.
  • Consolidated Profit/(loss) for the period: ₹59.61 million for Q1 FY27.
  • Basic EPS (Consolidated) was ₹0.46 for the quarter.