Financial Performance Summary

Revenue Performance:

  • Q1 FY27 Revenue from Operations: ₹716.38 crore
  • Q1 FY26 Revenue from Operations: ₹292.78 crore
  • Year-over-Year Growth: 144.69%
  • Q4 FY26 Revenue: ₹658.93 crore
  • Quarter-over-Quarter Growth: 8.72%
  • Volume growth for the quarter stood at 61.6% YoY

Profitability Metrics:

  • Q1 FY27 EBITDA (Excl OI): ₹71.45 crore
  • Q1 FY26 EBITDA: ₹51.41 crore
  • Year-over-Year EBITDA Growth: 39.00%
  • Q4 FY26 EBITDA: ₹67.01 crore
  • Quarter-over-Quarter EBITDA Growth: 6.63%
  • Q1 FY27 EBITDA Margin: 9.97%
  • Q1 FY26 EBITDA Margin: 17.56%
  • EBITDA Margin Contraction: 758 basis points YoY
  • Q4 FY26 EBITDA Margin: 10.17%
  • Quarter-over-Quarter Margin Change: -20 basis points

Net Profit:

  • Q1 FY27 Profit after Tax: ₹50.48 crore
  • Q1 FY26 Profit after Tax: ₹34.36 crore
  • Year-over-Year PAT Growth: 46.94%
  • Q4 FY26 PAT: ₹51.93 crore
  • Quarter-over-Quarter PAT Change: -2.78%
  • Q1 FY27 PAT Margin: 7.05%
  • Q1 FY26 PAT Margin: 11.73%
  • PAT Margin Contraction: 469 basis points YoY
  • Q4 FY26 PAT Margin: 7.88%
  • Quarter-over-Quarter Margin Change: -83 basis points

Performance Drivers

The growth was driven by healthy volume expansion, reinforced by continued customer focus, the rollout of new designs, and outreach to new customers and markets. The EBITDA growth was primarily driven by strong volume growth during the quarter, supported by improved operating income and profitability.

Operational Highlights

Capacity Expansion:

  • Successfully completed capacity expansion project and commencement of production at new Marol, Andheri manufacturing facility
  • Newly expanded facility is now fully operational
  • Equipped with state-of-the-art machinery and modern infrastructure
  • Expansion adds approximately 4,000 kgs per annum to manufacturing capacity
  • Facility locations: Andheri (13,448 sq. ft.) and Marol (14,590 sq. ft.) in Mumbai
  • Strengthens ability to service existing customers and pursue new strategic partnerships across organized jewellery retail in India and international markets

Corporate Action:

  • Approved Rights Issue of 46,43,471 fully paid-up Equity Shares of face value ₹10 each
  • Issue price: ₹215 per share
  • Total issue size: ₹99.83 crore

Management Commentary

Mr. Pankajkumar Jagawat, Chairman & Managing Director, commented:

  • FY27 started on a strong note with healthy growth in both revenue and profitability
  • Growth reflects sustained demand for products and continued execution of growth strategy
  • Delivered strong volume growth supported by focus on expanding customer base and increasing wallet share among existing customers
  • Growth reinforced by rollout of new designs and outreach to new customers and markets
  • Capacity expansion significantly strengthens manufacturing capabilities
  • Rights Issue proceeds will support Company's growth initiatives and strengthen ability to capitalize on emerging market opportunities
  • Company well positioned to capitalize on ongoing shift towards organized jewellery manufacturing

Company Background

  • Founded in 2003 by Mr. Pankaj Kumar Jagawat and Mr. Manoj Kumar Jain
  • Headquartered in Mumbai with offices across key markets of India
  • Strong presence in both North and South India
  • Modern manufacturing facility integrates traditional craftsmanship with advanced technology
  • Guided by ethos of "creating timeless beauty through expert craftsmanship"
  • Partners with leading retailers across India