• Event Type: Q1 FY27 Earnings Conference Call to discuss Unaudited Financial Results (standalone and consolidated) for the quarter ended 30th June, 2026.
  • Date and Time: The call was held on August 04, 2026 (time not specified in transcript).
  • Purpose: Discussion of quarterly financial results and business updates.
  • Management Participants:
  • Mr. Ramesh Kalyanaraman – Executive Director
  • Mr. Sanjay Raghuraman – Chief Executive Officer
  • Mr. V Swaminathan – Chief Financial Officer
  • Mr. Sanjay Mehrottra – Head Strategy and Corporate Office
  • Mr. Abraham George – Head Treasury and Investor Relations
  • Moderator: Mr. Rahul Agarwal from Strategic Growth Advisors (SGA)
  • Availability of Materials: The financial results and investor presentation were posted on the company's website and stock exchanges. The audio recording was uploaded on the stock exchange on August 4, 2026.
  • UPSI Statement: The transcript includes a standard disclaimer that some statements may be forward-looking, but no explicit statement about unpublished price sensitive information is made.

Financial Highlights Discussed:

  • Consolidated Performance (ex-bullion): Revenue of INR 10,008 crores (38% YoY growth), EBITDA of INR 633 crores vs INR 508 crores, PAT of INR 349 crores vs INR 264 crores (32% growth).
  • India Business: Revenue of INR 8,503 crores vs INR 6,142 crores, EBITDA of INR 500 crores vs INR 434 crores, PAT of INR 321 crores vs INR 256 crores.
  • Middle East Business: Revenue of ~INR 1,320 crores vs INR 1,026 crores, EBITDA of INR 90 crores vs INR 73 crores, PAT of INR 25 crores vs INR 22 crores.
  • Candere (e-commerce): Revenue of INR 141 crores vs INR 66 crores, PAT of INR 2.1 crores vs loss of INR 10 crores.

Strategic and Operational Updates:

  • Gold Recirculation Campaign: "Shine with India" campaign increased recycled gold share to over 46% of revenue in Q1, with June share exceeding 55%. Target to maintain 55-60% going forward.
  • New Regional Brand: Launched "Akshaya Thanga Maligai" (ATM) exclusively for Tamil Nadu market. First showroom opening in Chennai on August 21, 2026, followed by four more showrooms in coming months.
  • Debt Reduction: On track to repay non-GML debt by end of September 2026, after which steps will be initiated for release of second tranche of real estate collaterals.
  • Real Estate Sale: Signed agreements for sale of two land parcels with aggregate consideration of ~INR 102 crores, expected to conclude in current quarter.
  • Store Expansion: Maintains target of opening 84 Kalyan showrooms and 50 Candere stores in FY27.
  • Margin Outlook: Expects to maintain full-year PBT margins similar to FY26 (conservative basis), with margin dilution from gold exchange offset by margin-accretive cash-for-gold business.

Additional Notes Section

  • Attachments: The regulatory filing included the earnings call transcript as an attachment.
  • Financial Data: Extensive financial data was disclosed and discussed during the call, including revenue, EBITDA, PAT breakdowns by geography and business segment.
  • Compliance: Filed pursuant to Regulation 46(2)(oa) of SEBI (LODR) Regulations, 2015.