Audited Standalone and Consolidated Financial Results for the quarter and year ended 31st March 2026
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AJC Jewel Manufacturers reported strong annual results with standalone revenue of Rs 2,917.48 lakhs (up 32% from Rs 2,204.64 lakhs) and profit after tax of Rs 802.37 lakhs (up 107% from Rs 386.31 lakhs). The company completed its IPO in July 2025, raising Rs 21.54 crores through 16.20 lakh equity shares. During the year, it acquired 88% stake in Esthara Jewels Private Limited as a subsidiary. However, operating cash flow turned negative at Rs 954.25 lakhs for standalone operations, indicating a concerning disconnect between reported profits and actual cash generation. The statutory auditor issued an unmodified opinion with only an emphasis of matter regarding regulatory fines totaling Rs 3.60 lakhs for delayed filings.
While revenue and profit grew significantly, the negative operating cash flow is a red flag for shareholders as it suggests the company is not converting book profits into actual cash. The IPO proceeds and subsidiary acquisition add complexity to future performance assessment.