Shankesh Jewellers maiden post-listing earnings call, Q1 FY27
SHANKESH · price
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Shankesh Jewellers, listed on August 25, 2026, held its first earnings call. Q1 FY27 revenue rose 55 percent year-on-year to INR 424 crores, PAT doubled to INR 43 crores at 10 percent margin, EBITDA up 92 percent. Pure B2B handcrafted gold jewellery supplier to over 800 retailers. Corporate clients now 66 percent of revenue. Three-year revenue CAGR of 21.5 percent, EBITDA margin expanded from 2.5 percent in FY23 to 9.7 percent in FY26. Gold hedging through immediate buy-on-sale policy. Debt-to-equity improved from 2.1x to 0.8x.
Strong first quarterly print post listing with doubled profits and expanding margins. Sustainability of standout margins was questioned by multiple analysts.