Manoj Vaibhav Gems N Jewellers Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
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Manoj Vaibhav Gems N Jewellers reported FY26 revenue of Rs 2,744 Cr, up 15.1% from Rs 2,384 Cr in FY25, driven by jewellery retail growth. PAT grew 14.5% to Rs 115 Cr from Rs 100 Cr, with EBITDA margin expanding modestly to ~6.0% from ~5.8%. The company reported positive operating cash flow of Rs 26.26 Cr, a turnaround from negative Rs 66.69 Cr in FY25. An exceptional item of Rs 1.44 Cr was recorded due to one-time provisioning under new labour codes. Inventories rose significantly to Rs 1,610 Cr (from Rs 1,317 Cr), and total borrowings stand at ~Rs 525 Cr. The statutory auditor Sagar & Associates issued an unmodified opinion, confirming clean financials. The board also reappointed P.A. Naidu & Associates as internal auditor for FY27.
Revenue and profit grew in double digits with a meaningful improvement in operating cash flow, which is positive. However, the ~15% growth rates fall below key signal thresholds, and the large inventory buildup warrants monitoring for demand trends. The clean audit opinion removes audit-risk concerns.