Financial Performance Summary

Q2 FY27 Performance (YoY Comparison)

  • Revenue: ₹605.58 crore (up 10.39% from ₹548.60 crore in Q2 FY26)
  • EBITDA: ₹40.48 crore (up 24.08% from ₹32.63 crore in Q2 FY26)
  • EBITDA Margin: 6.68% (expanded by 74 basis points from 5.95%)
  • PAT: ₹29.09 crore (up 23.55% from ₹23.55 crore in Q2 FY26)
  • PAT Margin: 4.80% (expanded by 51 basis points from 4.29%)
  • EPS: ₹11.81 (up 24.12% from ₹9.52)

H1 FY27 Performance (YoY Comparison)

  • Revenue: ₹1,191.29 crore (up 25.09% from ₹952.34 crore in H1 FY26)
  • EBITDA: ₹80.46 crore (up 49.62% from ₹53.78 crore in H1 FY26)
  • EBITDA Margin: 6.75% (expanded by 111 basis points from 5.65%)
  • PAT: ₹56.91 crore (up 47.08% from ₹38.70 crore in H1 FY26)
  • PAT Margin: 4.78% (expanded by 71 basis points from 4.06%)
  • EPS: ₹22.97 (up 46.86% from ₹15.64)

Performance Drivers

Business Segment Performance

  • Retail business (B2C) contributed to higher margins per rupee of sales compared to wholesale
  • Wholesale business (B2B) grew as trade partners placed larger orders
  • Profit grew almost twice as fast as revenue due to retail contribution and cost control

Operational Highlights

  • Company operates across both wholesale (B2B) and retail (B2C) channels
  • Sells BIS-hallmarked jewellery and bullion including gold coins and bars
  • Serves more than 1,000 trade clients across India
  • Retail customers served through flagship showroom in Sowcarpet, Chennai

Management Commentary

Mr. Rajesh Mehta, Chairman & Joint Managing Director, stated:

  • First half of FY27 was a strong period for the company
  • Second half is traditionally the busier part of the year
  • Company has built inventory and refreshed collections for festive and wedding season
  • Borrowings maintained at modest level
  • Focus remains on profitable growth, careful working capital management, and long-term shareholder value

Corporate Background

  • Established in 1971 and headquartered in Chennai
  • Equity shares recently moved to Main Boards of BSE and NSE
  • These are the first results since the main board listing

Forward Outlook

  • Company enters the festive and wedding season well prepared
  • Maintains focus on profitable growth and working capital management
  • No specific financial guidance provided

Financial Metrics Table

| Particulars | Q2 FY27 | Q2 FY26 | YoY Change | H1 FY27 | H1 FY26 | YoY Change |

| Revenue (₹ crore) | 605.58 | 548.60 | 10.39% | 1,191.29 | 952.34 | 25.09% |

| EBITDA (₹ crore) | 40.48 | 32.63 | 24.08% | 80.46 | 53.78 | 49.62% |

| EBITDA Margin (%) | 6.68% | 5.95% | 74 BPS | 6.75% | 5.65% | 111 BPS |

| PAT (₹ crore) | 29.09 | 23.55 | 23.55% | 56.91 | 38.70 | 47.08% |

| PAT Margin (%) | 4.80% | 4.29% | 51 BPS | 4.78% | 4.06% | 71 BPS |

| EPS (₹) | 11.81 | 9.52 | 24.12% | 22.97 | 15.64 | 46.86% |