Manufactures gold mangalsutra and traditional Indian wedding jewellery, recently expanding into bridal jewellery via partnerships with Tanishq and Malabar Gold. The business is shifting from job work to outright sales, which management says can triple revenue per client. Materials — predominantly gold — account for 91.1% of revenue, making gold the dominant input cost. FY26 revenue was ₹2,245.8 crore (up 57.1% year-on-year) and PAT was ₹115.5 crore. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Mangalsutra and traditional gold jewellery, Bridal jewellery. Gold-heavy jewellery manufacturing with high working-capital intensity
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 2,246 |
| EBITDA (ex other income) | 159 |
| margin % | 7.1 |
| Owners' profit | 115 |
| EPS, as reported (₹) | 13.55 |
| ROE % · ROCE % | 17.0 · 23.3 |
| Debt / equity (x) | 0.26 |
| Cash from operations | (282) |
| Capex | (9) |
| ₹ crore | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|
| Revenue | 333 | 529 | 659 | 726 | 548 |
| Profit before tax | 38 | 30 | 40 | 44 | 47 |
| Net profit | 29 | 23 | 30 | 34 | 34 |
| EPS (₹) | 3.95 | 2.99 | 3.13 | 3.53 | 3.53 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| TITAN COMPANY LIMITED | 4,44,743 | 77.5 | 28.32 | 51.7 | 32.3 | 32.7 | 32.3 | 14.2 |
| KALYAN JEWELLERS IND LTD | 62,083 | 43.3 | 9.84 | 23.4 | 21.4 | 22.1 | 33.0 | 6.5 |
| THANGAMAYIL JEWELLERY LTD | 15,910 | 40.7 | 11.24 | — | 24.8 | 30.3 | — | 5.4 |
| BLUESTONE JEWEL LFSTL LTD | 13,640 | 268.8 | 7.57 | 32.5 | 0.7 | 0.7 | — | 16.7 |
| PC JEWELLER LTD | 13,342 | 13.9 | 1.63 | 16.5 | 8.7 | 8.6 | 3.5 | 27.8 |
| SKY GOLD AND DIAMONDS LTD | 12,822 | 38.2 | 10.63 | 29.1 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 4 Sept 2026 · Newspaper publication of 17th AGM notice and Annual Report FY25-26 | compliance | minimal | — | — |
| 3 Sept 2026 · Notice of 17th AGM on 28 September 2026 via video conferencing | board shareholder meetings | low | — | — |
| 3 Sept 2026 · Integrated Annual Report FY26 filed; 17th AGM on Sep 28, 2026 | compliance | minimal | — | — |
| 3 Sept 2026 · AGM Notice: Borrowing Limit Hike to Rs 1000 Cr and Director Pay Raise | board shareholder meetings | low | — | — |
| 27 Aug 2026 · Shringar House of Mangalsutra fixes 17th AGM on September 28, 2026 via video conferencing | compliance | minimal | — | — |
| 27 Aug 2026 · Shringar House of Mangalsutra schedules 17th AGM on 28 Sep 2026 | board shareholder meetings | low | — | — |
| 18 Aug 2026 · VP Sales and Marketing Hitesh Khandelwal resigns, effective Aug 17 | management changes | medium | — | — |
| 18 Aug 2026 · VP Sales and Marketing Hitesh Khandelwal resigns | management changes | medium | — | — |
| 14 Aug 2026 · Q1 FY27 results published in newspapers | compliance | minimal | — | — |
| 12 Aug 2026 · Q1 FY27 Investor Presentation - Revenue Up 65%, Margins Contract | investor communications | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| 23.4 |
| 29.8 |
| — |
| 8.2 |
| P N GADGIL JEWELLERS LTD | 8,307 | 18.6 | 4.23 | 14.1 | 20.9 | 26.1 | — | 8.0 |
| ETHOS LIMITED | 7,118 | 67.7 | 4.28 | 27.7 | 5.8 | 7.0 | — | 16.2 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 16.5 | 23.4 | 10 of 29 | 68% |
| P/B | 3.1 | 2.8 | 15 of 28 | 48% |
| ROCE | 22.2 | 16.7 | 9 of 28 | 70% |
| ROE | 17.0 | 14.6 | 11 of 28 | 63% |
| Debt / Equity | 0.3 | 0.3 | 12 of 28 | 59% |
| EBITDA margin | 9.2 | 10.7 | 17 of 30 | 45% |
| Revenue growth | 64.9 | 45.7 | 7 of 25 | 75% |
| Profit growth | 19.3 | 49.8 | 21 of 25 | 17% |
| Market cap | 2093 | 2587 | 16 of 30 | 48% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
