Quarterly results
consolidated · as filed with NSE · Q1 FY27 back to Q4 FY17
| ₹ crore | Q1 FY27 | Q4 FY26 | Q3 FY26 | Q2 FY26 | Q1 FY26 | Q4 FY25 | Q3 FY25 | Q2 FY25 | Q1 FY25 | Q4 FY24 | Q3 FY24 | Q2 FY24 | Q1 FY24 | Q4 FY23 | Q3 FY23 | Q2 FY23 | Q1 FY23 | Q4 FY22 | Q3 FY22 | Q2 FY22 | Q1 FY22 | Q4 FY21 | Q3 FY21 | Q2 FY21 | Q1 FY21 | Q4 FY20 | Q3 FY20 | Q2 FY20 | Q1 FY20 | Q4 FY19 | Q3 FY19 | Q2 FY19 | Q1 FY19 | Q4 FY17 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 780 | 773 | 963 | 546 | 530 | 514 | 710 | 412 | 445 | 537 | 655 | 442 | 473 | 499 | 724 | 440 | 574 | 529 | 774 | 477 | 409 | 583 | 740 | 523 | 186 | 448 | 893 | 563 | 598 | 697 | 822 | 597 | 456 | 449 |
| Other income | 8.8 | −0.8 | 2.3 | 2.5 | 4.6 | 2.6 | 1.8 | 1.3 | 2.5 | 3.1 | 2.4 | 1.3 | 3.1 | 1.9 | 1.1 | 1.5 | 1.6 | 7 | 1 | 0.8 | 10.1 | 1.3 | 1.6 | 9.1 | 4.1 | 5.4 | 2.2 | 0.4 | 1.8 | 10.6 | 0.4 | −0.5 | 1.1 | 1.9 |
| Total expenses | 760 | 736 | 923 | 525 | 514 | 497 | 680 | 399 | 428 | 516 | 626 | 431 | 458 | 483 | 693 | 423 | 550 | 515 | 724 | 441 | 392 | 565 | 708 | 502 | 214 | 442 | 841 | 537 | 581 | 704 | 776 | 572 | 442 | 444 |
| EBITDA | 40.9 | 57.8 | 60.7 | 40.6 | 36.2 | 38.2 | 51 | 33.7 | 36.5 | 42 | 51.5 | 30.4 | 33.6 | 36.2 | 49.1 | 36.4 | 40.4 | 29.8 | 67.5 | 53 | 31.2 | 32.8 | 46.8 | 35.1 | −15.2 | 20.6 | 67.3 | 43.3 | 29.9 | 8.5 | 58.3 | 35.4 | 19.5 | 12.1 |
| EBITDA margin | 5.2% | 7.5% | 6.3% | 7.4% | 6.8% | 7.4% | 7.2% | 8.2% | 8.2% | 7.8% | 7.9% | 6.9% | 7.1% | 7.2% | 6.8% | 8.3% | 7.0% | 5.6% | 8.7% | 11.1% | 7.6% | 5.6% | 6.3% | 6.7% | -8.2% | 4.6% | 7.5% | 7.7% | 5.0% | 1.2% | 7.1% | 5.9% | 4.3% | 2.7% |
| Finance costs | 11.5 | 11.6 | 13 | 11.4 | 11.2 | 12.3 | 13.5 | 13.5 | 12.7 | 14.4 | 14.1 | 11.9 | 11.5 | 11.8 | 10.7 | 10.4 | 8.4 | 7.9 | 7.9 | 7.4 | 5.8 | 5.9 | 6.6 | 6.3 | 6.1 | 6.2 | 7.6 | 8 | 8 | 7 | 8.3 | 7.1 | 2.6 | 4.2 |
| Depreciation | 8.5 | 8.9 | 8.1 | 8.1 | 8.3 | 8.4 | 7.3 | 7.4 | 7.1 | 7.6 | 7.5 | 7.6 | 7.4 | 7.8 | 7.8 | 8.6 | 7.9 | 8 | 10.1 | 9.4 | 7.6 | 8.7 | 7.8 | 7.4 | 7.5 | 8.6 | 7.7 | 9.3 | 5.5 | 9 | 3.7 | 3.5 | 2.8 | 3.2 |
| Profit before tax | 29.7 | 36.5 | 42 | 23.7 | 9.3 | 20 | 32 | 14 | 19.2 | 23.1 | 32.3 | 12.2 | 17.8 | 18.5 | 31.6 | 18.9 | 25.8 | 20.9 | 50.5 | 37 | 28 | 19.6 | 33.9 | 30.5 | −24.7 | 11.1 | 54.2 | 26.4 | 18.3 | 3 | 46.7 | 24.4 | 15.2 | 6.5 |
| Tax | 4.1 | 6.3 | 8.8 | 3.5 | 2.7 | −2.7 | 7.6 | 2.8 | 3.8 | 2.1 | 4.5 | 1.7 | 3.6 | −1.2 | 3.3 | 3.4 | 1.6 | −0.4 | 17.5 | 8.7 | 4.2 | 3.9 | 8.3 | 7.7 | −7 | 1.7 | 10.2 | 4.6 | 1.3 | −9.1 | 9.1 | 2.4 | 3.5 | −1.9 |
| Net profit | 25.6 | 30.2 | 33.2 | 20.2 | 6.6 | 22.7 | 24.3 | 11.2 | 15.4 | 21 | 27.9 | 10.5 | 14.2 | 19.7 | 27.8 | 15.5 | 24.2 | 21.4 | 33 | 28.3 | 23.8 | 15.6 | 25.4 | 19.3 | −18 | 5.2 | 43.9 | 21.9 | 16.7 | 12.9 | 37.6 | 22 | 11.7 | 8.4 |
| Net margin | 3.3% | 3.9% | 3.4% | 3.7% | 1.2% | 4.4% | 3.4% | 2.7% | 3.5% | 3.9% | 4.3% | 2.4% | 3.0% | 4.0% | 3.8% | 3.5% | 4.2% | 4.0% | 4.3% | 5.9% | 5.8% | 2.7% | 3.4% | 3.7% | -9.7% | 1.2% | 4.9% | 3.9% | 2.8% | 1.9% | 4.6% | 3.7% | 2.6% | 1.9% |
| EPS (₹) | 2.37 | 3.01 | 2.99 | 1.80 | 0.59 | 2.39 | 2.50 | 1.17 | 1.62 | 2.05 | 2.92 | 1.11 | 1.51 | 2.16 | 2.91 | 1.64 | 2.57 | 11.26 | 17.83 | 14.95 | 12.55 | 8.17 | 13.66 | 12.33 | -9.28 | 5.11 | 23.47 | 11.90 | 9.02 | 6.85 | 20.25 | 11.63 | 6.27 | 4.56 |
| Net profit YoY | +288.8% | +32.9% | +36.5% | +80.1% | −57.1% | +8.1% | −12.8% | +7.3% | +8.3% | +6.6% | +0.3% | −32.6% | −41.3% | −7.9% | −15.7% | −45.1% | +2.0% | +37.3% | +29.8% | +46.9% | +231.9% | +198.2% | −42.1% | −12.1% | −207.8% | −59.4% | +16.9% | −0.3% | +42.8% | – | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY17 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 2,813 | 2,081 | 2,107 | 2,237 | 2,190 | 2,031 | 2,502 | 2,572 | 1,825 |
| Other income | 8.7 | 8.1 | 9.8 | 6.1 | 18.9 | 16.1 | 8.3 | 11.6 | 3.7 |
| Total expenses | 2,698 | 2,004 | 2,032 | 2,148 | 2,072 | 1,988 | 2,400 | 2,492 | 1,754 |
| EBITDA | 195 | 159 | 158 | 162 | 182 | 99.5 | 163 | 123 | 97.9 |
| EBITDA margin | 6.9% | 7.7% | 7.5% | 7.2% | 8.3% | 4.9% | 6.5% | 4.8% | 5.4% |
| Finance costs | 47.1 | 52.1 | 51.9 | 41.2 | 29 | 25 | 29.8 | 25 | 14.5 |
| Depreciation | 33.4 | 30.2 | 30.2 | 32 | 35.1 | 31.4 | 31.1 | 18.1 | 12.4 |
| Profit before tax | 112 | 85.2 | 85.4 | 94.8 | 136 | 59.2 | 110 | 91.2 | 74.7 |
| Tax | 21.3 | 11.5 | 11.8 | 7 | 30 | 13 | 17.8 | 5.9 | 10.9 |
| Net profit | 90.3 | 73.7 | 73.6 | 87.3 | 106 | 42.3 | 87.7 | 84.1 | 63.8 |
| Net margin | 3.2% | 3.5% | 3.5% | 3.9% | 4.9% | 2.1% | 3.5% | 3.3% | 3.5% |
| EPS (₹) | 9.51 | 7.68 | 7.59 | 9.28 | 56.49 | 24.88 | 49.50 | 44.80 | 34.12 |
| Net profit YoY | +22.5% | +0.1% | −15.7% | −18.0% | +151.8% | −51.8% | +4.3% | – | – |
EPS is as filed for each period and is not restated for later bonus issues or splits.
Cash flow
annual · ₹ crore| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|---|
| Operating cash flow | 53.7 | −1.3 | −40.9 | 230 | 88.2 |
| Investing cash flow | −23.8 | −86.5 | −22.7 | −67.4 | −119 |
| Financing cash flow | −76.6 | 142 | −16.6 | −217 | 31.3 |
| Capital expenditure | 12.5 | 31.1 | 15.3 | 38.5 | 20.1 |
| Free cash flow (CFO − capex) | 41.2 | −32.3 | −56.2 | 192 | 68.1 |
Net profit trend
annual, ₹ croreFY21
₹42.3
FY22
₹106+152%
FY23
₹87.3−18%
FY24
₹73.6−16%
FY25
₹73.7+0%
FY26
₹90.3+22%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 7 Aug 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 7 Aug 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | 29 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 29 May 2026 | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | 12 Feb 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 12 Feb 2026 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | 13 Nov 2025 | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 13 Nov 2025 | PDF on NSE XBRL |
| Q1 FY26 | Consolidated | 12 Aug 2025 | PDF on NSE XBRL |
| Q1 FY26 | Standalone | 12 Aug 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 13.6×16.4×
P/B5Y avg 0.96×1.19×
ROEFY26, on average equity6.2%
Net margin3.2%
Debt / equity0.33×
Revenue CAGR (3Y)7.9%
Profit CAGR (3Y)1.1%
EPS (TTM)₹10.18
Market cap₹1,797 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
1.19×
vs 8-point avg 0.96× (+23%)
0.69× low0.96× avg1.31× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹2,412 Cr+3%
Net worth₹1,509 Cr+8%
Total borrowings₹490 Cr−5%
Cash & bank balances₹58 Cr−44%
Investments₹113 Cr+13%
Inventories₹941 Cr−2%
Trade receivables₹841 Cr+19%
Trade payables₹137 Cr−29%
Change vs the same date a year earlier.
Revenue mix FY17
Jewellery99.4%result ₹89.7 Cr
Home Retail0.6%result ₹−1.3 Cr
Segment revenue as reported, before inter-segment eliminations.