Investor Presentation of Business Performance of Company for the result for H2 FY 2025-26.
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Manoj Jewellers, a Chennai-based jewellery company, reported its best-ever annual performance in FY26 with Total Income nearly doubling to ₹114.2 Cr and PAT growing 89.4% to ₹9.02 Cr. The strong growth was driven by aggressive B2B wholesale expansion (which now constitutes 87% of revenue at ₹99.41 Cr), complemented by new product launches including Thanga Kovil temple jewellery. H2 EBITDA margin remained stable at 12.16% despite rising gold prices and demand headwinds, reflecting business model resilience. The company operates two retail showrooms in Chennai and an online platform Zullry.com. Management targets steady-state margins of ~2% for wholesale, 6-8% for retail, and 50%+ for silver, with plans to set up in-house bangle manufacturing in FY27.
Strong double-digit growth with margin stability positions the company well, though the heavy dependence on low-margin wholesale (87% of revenue) limits overall profitability upside. The FY27 manufacturing and product expansion plans could improve margins if executed successfully.