RBZJEWEL

RBZ Jewellers financials

Market cap
₹538 Cr
Sector
Consumer Durables
Calls analysed
6
Latest concall · Q1 FY27 · call held 12 Aug 2026

RBZ Jewellers Limited Q1 FY27

Revenue from Operations ₹121 cr +60%EBITDA ₹18 cr +39%EBITDA Margin 14.9% PAT ₹9 cr

What went well

  • Revenue from operations of INR 121 crores, up 60% Y-o-Y.
  • EBITDA of INR 18 crores, up 39% Y-o-Y.
  • PAT of INR 9 crores.

What to watch

  • EBITDA margins at 14.9%, impacted by initial expenses for new store launches and stagnant gold rates.
  • Lower margins attributed to INR 76 lakhs in lease asset amortization and INR 115 lakhs in lease liabilities.
Read the full call →

Guidance record · Q1 FY27

what the last two calls moved 17 tracked 2 delivered 2 missed 13 open
  • FY26 Revenue delivered said Q4 FY25 Promised: ₹700 crores Q1 FY27: Not mentioned as the target period has passed.
  • Rajkot Showroom Opening delayed said Q4 FY25 Promised: Operational by Q1 FY27 Q1 FY27: Timeline further delayed to early Q3 FY27.
  • Surat Showroom Opening delayed said Q4 FY25 Promised: Operational by Q3 FY26 Q1 FY27: Reiterated launch timeline for Q2 FY27, specifically the last week of September.

All 17 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 59.8%, net profit up 27.7% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue117 194 137 76 145 +24%226 +17%189 +38%121 +60%
EBITDA14 22 15 13 28 +102%30 +36%21 +45%18 +38%
Net profit8 13 9 7 19 +130%17 +33%12 +36%9 +28%
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 +25.6% 1Y

₹100₹120₹140₹160₹180₹200Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 12 Nov 2025Q3 FY26 — 18 Feb 2026Q4 FY26 — 19 May 2026Q1 FY27 — 12 Aug 2026

1Y: ₹138.69 on 10 Sept 2025 → ₹174.19. High ₹200.69 (4 Sept 2026), low ₹102.07 (30 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
−8.6%
12 Aug
Q4 FY26
−0.8%
19 May
Q3 FY26
−0.6%
18 Feb
Q2 FY26
+1.2%
12 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 20.1% a year over 1 year, FY25 to FY26. Operating margin widened to 14.4%.

Year endingFY25FY26
Revenue₹530 Cr₹636 Cr
Operating profit₹64 Cr₹92 Cr
Operating margin12.2%14.4%
Interest₹10 Cr₹14 Cr
Depreciation₹3 Cr₹4 Cr
Net profit₹39 Cr₹55 Cr
Net margin7.3%8.6%
Cash from operations₹-15 Cr₹-7 Cr
Free cash flow₹-20 Cr₹-40 Cr
ROCE20.0%22.0%
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₹4 Cr₹4 Cr₹30 Cr₹40 Cr₹40 Cr₹40 Cr
Reserves₹52 Cr₹66 Cr₹62 Cr₹167 Cr₹231 Cr₹260 Cr
Borrowings₹60 Cr₹64 Cr₹96 Cr₹69 Cr₹150 Cr₹170 Cr
Other liabilities₹8 Cr₹20 Cr₹19 Cr₹7 Cr₹57 Cr₹16 Cr
Total liabilities₹124 Cr₹154 Cr₹207 Cr₹284 Cr₹478 Cr₹486 Cr
Fixed assets₹17 Cr₹16 Cr₹25 Cr₹27 Cr₹48 Cr₹62 Cr
Capital work in progress₹0 Cr₹1 Cr₹1 Cr₹2 Cr₹24 Cr₹25 Cr
Investments₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Other assets₹107 Cr₹138 Cr₹181 Cr₹255 Cr₹407 Cr₹399 Cr
Total assets₹124 Cr₹154 Cr₹207 Cr₹284 Cr₹478 Cr₹486 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, the public added +0.59 pp while FIIs trimmed −0.47 pp. The shareholder count shrank 18% to 31,334.

Promoters
75.0%
FIIs
0.0%
DIIs
0.0%
Public
25.0%

Since Jun 2025

  • Public +0.59 pp
  • FIIs −0.47 pp
  • DIIs −0.09 pp

How it drifted, 11 quarters

Over this window the public went from 17.6% to 25.0% — +7.3 pp.

Dec '23Mar '25Jun '26

Ownership split by quarter, oldest first. Dec '23: Promoters 75.0%, FIIs 4.3%, DIIs 3.0%, Public 17.6%.Mar '24: Promoters 75.0%, FIIs 1.8%, DIIs 2.8%, Public 20.4%.Jun '24: Promoters 75.0%, FIIs 1.3%, DIIs 1.5%, Public 22.1%.Sep '24: Promoters 75.0%, FIIs 1.0%, DIIs 1.7%, Public 22.3%.Dec '24: Promoters 75.0%, FIIs 0.9%, DIIs 1.9%, Public 22.2%.Mar '25: Promoters 75.0%, FIIs 0.6%, DIIs 1.6%, Public 22.8%.Jun '25: Promoters 75.0%, FIIs 0.5%, DIIs 0.1%, Public 24.4%.Sep '25: Promoters 75.0%, FIIs 0.2%, DIIs 0.1%, Public 24.7%.Dec '25: Promoters 75.0%, DIIs 0.1%, Public 24.9%.Mar '26: Promoters 75.0%, DIIs 0.1%, Public 24.9%.Jun '26: Promoters 75.0%, FIIs 0.0%, DIIs 0.0%, Public 25.0%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of RBZ Jewellers Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Rajendrakumar Kantilal Zaveri 38.23%unchanged
Harit Rajendrakumar Zaveri 36.75%unchanged
Ashika Global Finance Private Limited 2.71%unchanged
Geetanshu Lodha 1.03%unchanged
Rajendrakumar Kantilal Zaveri HUF 0.02%unchanged
Harita Rajendrakumar Zaveri 0.00%unchanged
Harit Rajendrakumar Zaveri HUF 0.00%unchanged
Ekta Harit Zaveri 0.00%unchanged
Nikunj Ashwin Jhaveri 0.00%unchanged
Jaibala A Jhaveri 0.00%unchanged
Dilipkumar Bababhai Zaveri 0.00%unchanged
Bhagwati Jewellers-Dilip Zaveri 0.00%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 ₹174, this stock must grow earnings at 3% every year for 7 years. Our analysis caps realistic growth at ~41%. At that growth it is worth ₹1209 — upside of 594%.

Growth the price implies
3.0% a year
for 7 years, fading to 4%
It has actually compounded at
41.2% a year
net profit, FY25–FY26 · EPS 41.2%
The gap
-0.4 pp
594% downside if it only repeats history
Price today ₹174.19 Value at the reference growth ₹1,208.8

Change the assumptions yourself →

All earnings calls (6)

Read the Q1 FY27 call →

Learn to analyse RBZ Jewellers Limited

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