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Khazanchi Jewell share price & financials

Price
₹625
Market cap
₹1.9k Cr
Sector
Consumer Durables
Calls analysed
7
Latest concall · Q1 FY27 · call held 25 Aug 2026

Khazanchi Jewell Q1 FY27

Revenue ₹586.36 cr +45%EBITDA ₹39.98 cr +89%EBITDA Margin 6.82% PAT ₹27.83 cr +84%

What went well

  • Strong revenue growth of 45% year-on-year to INR586.36 crores, driven by healthy momentum in both B2B and B2C operations.
  • EBITDA increased by 89% year-on-year to INR39.98 crores, with margins improving by 158 basis points to 6.82%, reflecting improved business mix and operating leverage.
  • Profit after tax (PAT) grew by 84% year-on-year to INR27.83 crores, and PAT margins improved by 99 basis points to 4.75%.
Read the full call →

What Khazanchi Jewell does

Khazanchi Jewellers designs and sells gold, diamond and precious-stone jewellery — including designer, bridal, temple, antique and Calcutta collections — plus bullion coins and bars, serving both wholesale (B2B) distributors and retail (B2C) consumers. Founded in Chennai in 1971, it runs an asset-light model: in-house teams handle design, quality inspection and BIS hallmarking, while actual manufacturing is outsourced to a network of authorized partner manufacturers across India. It reaches customers through a pan-India network of wholesale clients and through its own showrooms in Sowcarpet, Chennai, and holds accreditation as an authorized jeweller on the India International Bullion Exchange (IIBX).

Segments

  • Wholesale Distribution (B2B)
  • Retail Consumer (B2C)
Company-operated showrooms
2, both in Sowcarpet, Chennai
Flagship showroom area
10,000 sq. ft. total (6,800 sq. ft. sales area)
Original showroom area
1,200 sq. ft., Sowcarpet, Chennai
Proprietary design library
5 lakh+ (500,000+) unique designs
Product categories
25+
B2B / wholesale client network
1,000+ pan-India clients
Founded 1971Headquarters Chennai, Tamil Nadu, IndiaEmployees 40 (FY25 (year ended March 2) Company website

Guidance record · Q1 FY27

what the last two calls moved 11 tracked 2 delivered 0 missed 9 open
  • Showroom Opening Date delivered said Q3 FY25 Promised: April 2025 (Q1 FY26) Q1 FY27: Promise previously achieved.
  • Blended EBITDA Margin at risk said Q4 FY25 Promised: Reach 5% or higher gradually in coming 2 years Q1 FY27: Q1 EBITDA margin was 6.82%. This is below the revised target of 7.2%-7.8% (20-30% improvement on 6% baseline), but still above the original 5% target.
  • Additional B2C Sales on track said Q3 FY25 Promised: INR 150 crores Q1 FY27: Management states the showroom is on track to achieve its INR 500 crore peak revenue target, currently operating at an 80-85% run-rate.

All 11 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 45.0%, net profit up 86.7% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue375 394 622 404 549 +46%589 +49%508 −18%586 +45%
EBITDA15 16 19 21 32 +113%35 +119%37 +95%39 +86%
Net profit11 12 13 15 24 +118%25 +108%26 +100%28 +87%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +27.4% 1Y

₹600₹650₹700₹750₹800Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 19 Nov 2025Q3 FY26 — 18 Feb 2026Q4 FY26 — 8 Jun 2026Q1 FY27 — 25 Aug 2026

1Y: ₹592.45 on 10 Sept 2025 → ₹755. High ₹808.95 (20 Aug 2026), low ₹585.75 (18 Sept 2025).

How the price took the results

close before → close after

Q1 FY27
+0.6%
25 Aug
Q4 FY26
+0.0%
8 Jun
Q3 FY26
−0.1%
18 Feb
Q2 FY26
+0.4%
19 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 15.7% a year over 1 year, FY25 to FY26. Operating margin widened to 6.1%.

Year endingFY25FY26
Revenue₹1.8k Cr₹2.0k Cr
Operating profit₹63 Cr₹125 Cr
Operating margin3.6%6.1%
Interest₹4 Cr₹6 Cr
Depreciation₹0 Cr₹0 Cr
Net profit₹45 Cr₹90 Cr
Net margin2.5%4.4%
Cash from operations₹1 Cr₹-36 Cr
Free cash flow₹-3 Cr₹-42 Cr
ROCE24.0%35.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹10 Cr₹10 Cr₹10 Cr₹25 Cr₹25 Cr₹25 Cr
Reserves₹16 Cr₹19 Cr₹26 Cr₹163 Cr₹244 Cr₹295 Cr
Borrowings₹75 Cr₹84 Cr₹85 Cr₹55 Cr₹60 Cr₹110 Cr
Other liabilities₹13 Cr₹12 Cr₹24 Cr₹12 Cr₹52 Cr₹36 Cr
Total liabilities₹113 Cr₹124 Cr₹145 Cr₹254 Cr₹380 Cr₹466 Cr
Fixed assets₹9 Cr₹13 Cr₹13 Cr₹13 Cr₹22 Cr₹25 Cr
Capital work in progress₹0 Cr₹0 Cr₹0 Cr₹2 Cr₹0 Cr₹0 Cr
Investments₹0 Cr₹0 Cr₹0 Cr₹3 Cr₹0 Cr₹0 Cr
Other assets₹104 Cr₹112 Cr₹132 Cr₹236 Cr₹358 Cr₹440 Cr
Total assets₹113 Cr₹124 Cr₹145 Cr₹254 Cr₹380 Cr₹466 Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, DIIs trimmed −1.46 pp while the public added +1.45 pp. The shareholder count shrank 7% to 1,158.

Promoters
74.5%
FIIs
0.0%
DIIs
0.1%
Public
25.3%

Since Jun 2025

  • DIIs −1.46 pp
  • Public +1.45 pp
  • FIIs +0.02 pp

How it drifted, 10 quarters

Over this window DIIs fell from 1.5% to 0.1% — −1.4 pp.

Sep '23Mar '25Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 73.7%, DIIs 1.5%, Public 24.8%.Mar '24: Promoters 74.5%, DIIs 1.5%, Public 24.0%.Sep '24: Promoters 74.5%, DIIs 1.4%, Public 24.1%.Dec '24: Promoters 74.5%, DIIs 1.5%, Public 24.0%.Mar '25: Promoters 74.5%, DIIs 1.6%, Public 23.9%.Jun '25: Promoters 74.5%, DIIs 1.6%, Public 23.9%.Sep '25: Promoters 74.5%, DIIs 1.8%, Public 23.7%.Dec '25: Promoters 74.5%, DIIs 1.8%, Public 23.7%.Mar '26: Promoters 74.5%, FIIs 0.0%, DIIs 1.7%, Public 23.7%.Jun '26: Promoters 74.5%, FIIs 0.0%, DIIs 0.1%, Public 25.3%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Khazanchi Jewell above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Tarachand Mehta 10.57%unchanged
Goutham . 8.20%unchanged
Tarachand Mehta And Sons . 6.89%unchanged
Sanjay Kumar 5.59%unchanged
Vikas Mehta Huf . 4.69%unchanged
Rajesh Kumar Huf . 4.45%unchanged
Fancy Devi 4.39%unchanged
Rajesh Kumar 4.14%unchanged
Pramila Mehta 3.55%unchanged
Ashok Kumar Mehta 3.17%unchanged
Vikas Mehta 2.91%unchanged
Ashok Kumar Huf . 2.89%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

What the price assumes

Attractive

To justify its price of ₹755, this stock must grow earnings at 11% every year for 7 years. Our analysis caps realistic growth at ~99%. At that growth it is worth ₹34851 — upside of 4516%.

Growth the price implies
10.5% a year
for 7 years, fading to 4%
It has actually compounded at
100.0% a year
net profit, FY25–FY26 · EPS 99.1%
The gap
-0.9 pp
4516% downside if it only repeats history
Price today ₹755 Value at the reference growth ₹34,851.24

Change the assumptions yourself →

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse Khazanchi Jewell

Guides on how to read this kind of business and the numbers that matter.