Considered and approved the standalone unaudited financial result for the quarter ended 30.06.2025
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S.M. Gold Ltd's board approved its Q1 FY26 standalone unaudited results, with revenue from operations rising to ₹2,552.94 lakhs from ₹2,046.96 lakhs in Q1 FY25 — a growth of about 24.7% year-on-year. However, profit after tax fell sharply to ₹14.51 lakhs (₹0.11 per share) versus ₹33.14 lakhs (₹0.33 per share) in the same quarter last year. Total expenses rose disproportionately, especially purchases of stock-in-trade which jumped to ₹2,071.34 lakhs from ₹1,075.27 lakhs, squeezing operating margins. The auditor (AKGVG & Associates) issued an unqualified limited review report with no qualifications or emphasis of matter.
While top-line growth is encouraging for the gold trading business, the sharp drop in profit and compressed margins suggest rising input costs are not being passed on effectively, which is a concern for shareholders. Watch margin trends and input cost management in coming quarters before drawing longer-term conclusions.