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Ashapuri Gold Ornament Q2 FY27 results: net profit down 13.2% to ₹7.35 crore, revenue down 23.9%
Ashapuri Gold Ornament Limited reported standalone revenue of ₹77.95 crore and a net profit of ₹7.35 crore for Q2 FY27. Revenue fell 23.9% from the year-ago quarter but rose 20.3% from Q1 FY27, while the EBITDA margin increased to 12.2%.
Key points
- Revenue was ₹77.95 crore in Q2 FY27, down 23.9% from ₹102.40 crore in Q2 FY26 but up 20.3% from ₹64.79 crore in Q1 FY27.
- EBITDA was ₹9.51 crore, with a margin of 12.2%, compared with 11.2% in Q2 FY26 and 11.3% in Q1 FY27.
- Net profit was ₹7.35 crore, down 13.2% from ₹8.47 crore in Q2 FY26 and up 41.1% from ₹5.21 crore in Q1 FY27.
- Basic EPS was ₹0.22, against ₹0.25 in Q2 FY26 and ₹0.16 in Q1 FY27.
- For H1 FY27, revenue was ₹142.74 crore, down 8.1% from H1 FY26, while net profit was ₹12.56 crore, up 7.9%.
How did Ashapuri Gold Ornament perform in Q2 FY27?
Ashapuri Gold Ornament reported standalone revenue of ₹77.95 crore for Q2 FY27, compared with ₹102.40 crore in Q2 FY26 and ₹64.79 crore in Q1 FY27. Revenue fell 23.9% year on year but rose 20.3% sequentially. Total income was ₹78.49 crore, down 23.4% from the year-ago quarter and up 21.1% from the previous quarter.
EBITDA was ₹9.51 crore and the margin was 12.2%, compared with ₹11.46 crore and 11.2% in Q2 FY26 and ₹7.35 crore and 11.3% in Q1 FY27. The margin increased 1.0 percentage point year on year and 0.9 percentage point sequentially. Profit before tax was ₹9.87 crore and net profit was ₹7.35 crore, with basic EPS of ₹0.22.
Against Q2 FY26, net profit fell 13.2% from ₹8.47 crore and EPS declined 12.0% from ₹0.25. Against Q1 FY27, net profit rose 41.1% from ₹5.21 crore and EPS increased 37.5% from ₹0.16. The reported figures are standalone; no consolidated figures were provided in the supplied information.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 77.95 | 64.79 | 102.40 | −23.9% | +20.3% |
| Other income | 0.54 | 0.01 | 0.01 | +5300.0% | +5300.0% |
| Total expenses | 68.62 | 57.61 | 91.10 | −24.7% | +19.1% |
| EBITDA | 9.51 | 7.35 | 11.46 | −17.0% | +29.4% |
| EBITDA margin | 12.2% | 11.3% | 11.2% | +1.0 pp | +0.9 pp |
| Profit before tax | 9.87 | 7.19 | 11.31 | −12.7% | +37.3% |
| Tax | 2.52 | 1.98 | 2.84 | −11.3% | +27.3% |
| Net profit | 7.35 | 5.21 | 8.47 | −13.2% | +41.1% |
| EPS (₹) | 0.22 | 0.16 | 0.25 | −12.0% | +37.5% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Ashapuri Gold Ornament's costs and profit?
Cost of materials was ₹70.56 crore in Q2 FY27, up ₹15.24 crore or 27.5% from ₹55.32 crore in Q2 FY26, while total expenses fell ₹22.48 crore or 24.7% to ₹68.62 crore. Employee cost declined ₹3.80 crore or 60.4% to ₹2.49 crore, and finance costs fell ₹0.01 crore to no finance cost.
Other expenses increased ₹1.06 crore or 30.7% from ₹3.45 crore to ₹4.51 crore, while depreciation rose ₹0.01 crore or 6.3% from ₹0.16 crore to ₹0.17 crore. Other income increased ₹0.53 crore from ₹0.01 crore to ₹0.54 crore. There was no exceptional item in either quarter.
Tax expense was ₹2.52 crore, down ₹0.32 crore or 11.3% from ₹2.84 crore in Q2 FY26. The supplied filing excerpt concerns rescheduling the board meeting to consider the results and does not state reasons for the movements in costs, income or tax.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 70.56 | 55.32 | +15.24 | +27.5% |
| Employee cost | 2.49 | 6.29 | −3.80 | −60.4% |
| Finance costs | 0 | 0.01 | −0.01 | |
| Depreciation | 0.17 | 0.16 | +0.01 | +6.3% |
| Other expenses | 4.51 | 3.45 | +1.06 | +30.7% |
| Total expenses | 68.62 | 91.10 | −22.48 | −24.7% |
| Other income | 0.54 | 0.01 | +0.53 | +5300.0% |
| Tax | 2.52 | 2.84 | −0.32 | −11.3% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, standalone revenue was ₹142.74 crore, down ₹12.62 crore or 8.1% from ₹155.36 crore in H1 FY26. Total income was ₹143.25 crore, compared with ₹155.37 crore, while profit before tax increased ₹0.89 crore or 5.5% to ₹17.06 crore.
Net profit for H1 FY27 was ₹12.56 crore, up ₹0.92 crore or 7.9% from ₹11.64 crore in H1 FY26. Basic EPS increased from ₹0.35 to ₹0.38, while total expenses were ₹68.62 crore in the quarter.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 142.74 | 155.36 | −8.1% |
| Profit before tax | 17.06 | 16.17 | +5.5% |
| Net profit | 12.56 | 11.64 | +7.9% |
| EPS (₹) | 0.38 | 0.35 | +8.6% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets rose to ₹191.42 crore as on 30 September 2026 from ₹173.12 crore as on 31 March 2026, while total equity increased to ₹180.00 crore from ₹166.75 crore. Inventories rose to ₹133.18 crore from ₹124.17 crore, and trade receivables increased to ₹33.25 crore from ₹24.08 crore.
Trade payables increased to ₹6.81 crore from ₹0.85 crore, and borrowings stood at ₹1.03 crore against no borrowings at the previous balance sheet date. Cash fell to ₹0.06 crore from ₹7.39 crore. The supplied data do not include a closing cash figure for either cash-flow period.
For H1 FY27, operating cash flow was negative ₹2.45 crore, compared with negative ₹3.09 crore in H1 FY26. Investing cash flow was negative ₹5.90 crore against positive ₹3.00 crore, financing cash flow was positive ₹1.02 crore against negative ₹0.35 crore, and capital expenditure was ₹0.40 crore compared with ₹0.11 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 191.42 | 173.12 |
| Total equity | 180 | 166.75 |
| Borrowings | 1.03 | 0 |
| Cash and equivalents | 0.06 | 7.39 |
| Inventories | 133.18 | 124.17 |
| Trade receivables | 33.25 | 24.08 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −2.45 | −3.09 |
| Cash from investing | −5.90 | 3 |
| Cash from financing | 1.02 | −0.35 |
| Capital expenditure | 0.40 | 0.11 |
Source: Company's results filing (XBRL).
How has Ashapuri Gold Ornament done over the last 8 quarters?
Revenue increased to ₹77.95 crore in Q2 FY27 from ₹64.79 crore in Q1 FY27, following its lowest point of ₹52.95 crore in Q1 FY26. It remained below the recent peak of ₹102.40 crore reported in Q2 FY26. The direction in the latest quarter was higher.
Net profit rose to ₹7.35 crore in Q2 FY27 from ₹5.21 crore in Q1 FY27, but remained below ₹8.47 crore in Q2 FY26. It had reached a recent low of ₹1.35 crore in Q4 FY26. The EBITDA margin increased to 12.2% in Q2 FY27 from 11.3% in Q1 FY27 and 1.6% in Q4 FY26.
How did other Gems, Jewellery And Watches companies do?
Among 17 other Gems, Jewellery And Watches companies that filed for the quarter, the median revenue growth was 18.3%. Two peers grew slower than Ashapuri Gold Ornament and 15 grew faster than the company. The peer comparison was as on 6 November 2026.
| Ashapuri Gold Ornament revenue growth (YoY) | −23.9% |
|---|---|
| Median of 17 other Gems, Jewellery And Watches companies | +18.3% |
| Companies with slower revenue growth than Ashapuri Gold Ornament | 2 of 17 |
| Companies with faster revenue growth than Ashapuri Gold Ornament | 15 of 17 |
| Companies whose net profit rose | 9 of 18 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Ashapuri Gold Ornament's revenue in Q2 FY27?
Revenue from operations was ₹77.95 crore, down 23.9% from ₹102.40 crore in Q2 FY26 (standalone).
Did Ashapuri Gold Ornament make a profit in Q2 FY27?
Yes. Net profit was ₹7.35 crore, against a net profit of ₹8.47 crore in Q2 FY26.
What was Ashapuri Gold Ornament's EPS in Q2 FY27?
Basic earnings per share were ₹0.22, against ₹0.25 in Q2 FY26.
When did Ashapuri Gold Ornament announce its Q2 FY27 results?
On 6 November 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Rescheduling Of The Board Meeting (BSE, 4 November 2026) · PDF
- Outcome of Board Meeting (NSE, 6 November 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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