Unaudited financial results for the quarter ended 31st Dec 2025
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AJC Jewel Manufacturers Ltd reported strong Q3 FY26 results with revenue from operations of ₹884.64 lakhs, up about 19% sequentially from ₹740.74 lakhs in Q2 FY26. Profit after tax for the quarter stood at ₹345.31 lakhs (EPS ₹5.60), while 9M FY26 PAT was ₹606.19 lakhs — more than double the full-year FY25 PAT of ₹286.34 lakhs. The company recently listed on the BSE SME platform (July 2025), which has strengthened its balance sheet — share capital rose to ₹606.84 lakhs and reserves to ₹2,825.40 lakhs. However, short-term borrowings climbed sharply to ₹4,229.94 lakhs and trade receivables more than doubled to ₹4,854.18 lakhs. Cash flow from operations turned significantly negative at ₹1,101.41 lakhs, with the company relying on fresh borrowings and IPO proceeds to fund working capital. The auditor (Kumar & Biju Associates LLP) issued an unmodified limited review report.
Strong top-line growth and a sharp jump in profitability are positive for shareholders, but the ballooning receivables and negative operating cash flow signal working-capital strain that investors should monitor closely. Short-term debt has surged alongside the equity infusion, which is worth watching in upcoming quarters.