Key Financial Results (₹ in Crores)

Quarterly Performance (Q4 FY26 vs Q4 FY25)

  • Revenue from Operations: ₹725.6 (vs ₹351.4) - 106.5% YoY growth
  • Gross Profit: ₹64.5 (vs ₹28.9) - 122.9% YoY growth
  • Gross Profit Margin: 8.9% (vs 8.2%) - 65 bps improvement
  • EBITDA: ₹44.7 (vs ₹23.1) - 93.7% YoY growth
  • EBITDA Margin: 6.2% (vs 6.6%) - 41 bps decline
  • Profit After Tax: ₹34.0 (vs ₹15.2) - 123.5% YoY growth
  • PAT Margin: 4.7% (vs 4.3%) - 36 bps improvement

Quarterly Sequential Performance (Q4 FY26 vs Q3 FY26)

  • Revenue from Operations: ₹725.6 (vs ₹658.9) - 10.1% QoQ growth
  • Gross Profit: ₹64.5 (vs ₹54.7) - 18.0% QoQ growth
  • Gross Profit Margin: 8.9% (vs 8.3%) - 59 bps improvement
  • EBITDA: ₹44.7 (vs ₹40.2) - 11.2% QoQ growth
  • EBITDA Margin: 6.2% (vs 6.1%) - 6 bps improvement
  • Profit After Tax: ₹34.0 (vs ₹30.1) - 12.8% QoQ growth
  • PAT Margin: 4.7% (vs 4.6%) - 11 bps improvement

Annual Performance (FY26 vs FY25)

  • Revenue from Operations: ₹2,245.8 (vs ₹1,429.8) - 57.1% YoY growth
  • Gross Profit: ₹212.1 (vs ₹114.8) - 84.7% YoY growth
  • Gross Profit Margin: 9.4% (vs 8.0%) - 141 bps improvement
  • EBITDA: ₹158.7 (vs ₹92.3) - 72.0% YoY growth
  • EBITDA Margin: 7.1% (vs 6.5%) - 61 bps improvement
  • Profit After Tax: ₹115.5 (vs ₹61.1) - 89.0% YoY growth
  • PAT Margin: 5.1% (vs 4.3%) - 87 bps improvement

Operational and Strategic Highlights

Manufacturing Capacity Expansion

The company commissioned and operationalized a new manufacturing facility in Kandivali, Mumbai, enhancing production capacity from 2,500 kg to 4,000 kg per annum.

New Business Segment Entry

Announced strategic entry into the bridal jewellery segment, expanding the product portfolio. Sales have commenced through marquee partners including Tanishq and Malabar Gold & Diamonds.

Business Overview

The company specializes in design, production, and distribution of mangalsutras with over 15 distinct collections and more than 10,000 active SKUs. Customer base includes 35 corporate clients, 1,061 wholesalers, and 237 retailers across 24 states and 4 union territories. Prominent corporate customers include Malabar Gold, Titan, Reliance Retail, Novel Jewel, Joyalukkas, PN Gadgil Jewellers, and Kalyan Jewellers (UAE). Operations are supported by 25 in-house designers and 292 skilled karigars.

Management Commentary

Mr. Chetan N Thadeshwar, Chairman & Managing Director, stated that the strong performance was driven by robust volume growth, favorable gold price movements, and disciplined margin management. FY26 was described as a landmark year with several strategic milestones including successful listing, inauguration of a new branch office in Pune, manufacturing capacity expansion, and entry into bridal jewellery segment.

Investor Relations Contacts

  • Ms. Darshi Jain: Darshi.Jain@in.mpms.mufg.com, Tel: 96531 39305
  • Mr. Irfan Raeen: Irfan.raeen@in.mpms.mufg.com, Tel: 97737 78669