Financial Performance Highlights
Quarter Ended September 30, 2026 (Unaudited):
- Revenue from Operations: ₹209.35 crore (vs. ₹161.93 crore in Q2 FY25, 29% increase)
- Other Income: ₹1.12 crore
- Total Income: ₹210.46 crore
- Profit Before Tax: ₹18.83 crore (vs. ₹11.61 crore in Q2 FY25)
- Tax Expense: ₹4.83 crore
- Net Profit: ₹13.99 crore (vs. ₹8.87 crore in Q2 FY25, 58% increase)
- Basic & Diluted EPS: ₹4.17 (vs. ₹2.71 in Q2 FY25)
Half Year Ended September 30, 2026 (Unaudited):
- Revenue from Operations: ₹352.62 crore (vs. ₹295.57 crore in H1 FY25)
- Other Income: ₹2.18 crore
- Total Income: ₹354.80 crore
- Profit Before Tax: ₹33.09 crore (vs. ₹25.09 crore in H1 FY25)
- Tax Expense: ₹8.42 crore
- Net Profit: ₹24.67 crore (vs. ₹18.96 crore in H1 FY25)
- Basic & Diluted EPS: ₹7.26 (vs. ₹5.79 in H1 FY25)
Expense Breakdown (Quarter Ended September 30, 2026)
- Cost of Materials Consumed: ₹214.75 crore
- (Increase)/Decrease in Stock-in-Trade: (₹36.15) crore
- Employee Benefit Expenses: ₹5.80 crore
- Finance Cost: ₹3.14 crore
- Depreciation & Amortization: ₹0.48 crore
- Other Expenses: ₹3.62 crore
- Total Expenses: ₹191.63 crore
Capital Structure
- Paid-up Equity Share Capital (face value ₹10): ₹34.05 crore as of September 30, 2026 (vs. ₹33.60 crore as of September 30, 2025)
- Reserves (excluding Revaluation): ₹173.02 crore as of previous accounting year end (March 31, 2026)
Balance Sheet Position (as at September 30, 2026, Unaudited)
Assets:
- Total Assets: ₹409.70 crore (vs. ₹380.54 crore as of March 31, 2026)
- Non-Current Assets: ₹16.41 crore (Property, Plant & Equipment: ₹12.61 crore; Intangible Assets: ₹0.12 crore; Financial Assets: ₹3.56 crore; Deferred Tax Asset: ₹0.13 crore)
- Current Assets: ₹393.29 crore (Inventories: ₹232.36 crore; Investments: ₹8.78 crore; Trade Receivables: ₹138.72 crore; Cash & Cash Equivalents: ₹2.08 crore; Other Current Assets: ₹11.36 crore)
Liabilities and Equity:
- Total Equity: ₹237.28 crore (Equity Share Capital: ₹34.84 crore; Other Equity: ₹202.44 crore)
- Non-Current Liabilities: ₹2.90 crore (Borrowings: ₹2.05 crore; Provisions: ₹0.85 crore)
- Current Liabilities: ₹169.52 crore (Borrowings: ₹153.01 crore; Trade Payables - Micro & Small Enterprises: ₹1.70 crore; Trade Payables - Others: ₹4.61 crore; Other Current Liabilities: ₹4.15 crore; Provisions: ₹1.55 crore; Current Tax Liabilities: ₹4.50 crore)
Cash Flow Statement (Half Year Ended September 30, 2026)
- Cash Generated from Operations: ₹23.26 crore
- Direct Taxes Paid: (₹8.69) crore
- Net Cash from Operating Activities: ₹14.57 crore
- Net Cash Used in Investing Activities: (₹8.00) crore (Purchase of Fixed Assets: ₹0.75 crore; Investment in Shares: ₹7.29 crore)
- Net Cash Used in Financing Activities: (₹7.08) crore (Finance Cost: ₹5.35 crore; Decrease in Borrowings: ₹6.93 crore; Issue of Equity Shares: ₹5.20 crore)
- Net Decrease in Cash: ₹0.51 crore
- Cash and Equivalents at End: ₹2.08 crore (vs. ₹2.58 crore at beginning)
Significant Corporate Development
The National Company Law Tribunal (NCLT) approved the scheme of merger of Narabada Gems and Jewellery Limited with Uday Jewellery Industries Limited on January 21, 2026, with appointed date as April 1, 2024. Consequently, the financial results for prior periods have been restated to reflect the impact of the merger, presenting the standalone performance of the combined entity.
Governance and Compliance
- The financial results were reviewed by the Audit Committee and approved by the Board of Directors in their meeting held on November 14, 2026.
- The statutory auditors, Venugopal & Chenoy (FRN: 004671S), have issued an unmodified limited review report on these standalone unaudited financial results.
- The company operates in a single segment (jewellery) with the Chairman and Managing Director identified as the Chief Operating Decision Maker.
- The figures for the quarter ended September 30, 2026 are derived as the balancing figure between the half-year results and published first-quarter results.