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Kenvi Jewels Q2 FY27 results: net profit up 27.0% to ₹0.47 crore, revenue down 18.7%
Kenvi Jewels Limited reported standalone Q2 FY27 revenue of ₹37.28 crore, down 18.7% from ₹45.88 crore in Q2 FY26 but up 95.6% from ₹19.06 crore in Q1 FY27. Net profit rose 27.0% year on year to ₹0.47 crore, while EBITDA increased to ₹0.99 crore and the margin expanded to 2.7% from 1.4%.
Key points
- Standalone Q2 FY27 revenue was ₹37.28 crore, down 18.7% from ₹45.88 crore in Q2 FY26 and up 95.6% from ₹19.06 crore in Q1 FY27.
- EBITDA rose to ₹0.99 crore from ₹0.63 crore a year earlier, while the EBITDA margin increased by 1.3 percentage points to 2.7%.
- Net profit was ₹0.47 crore, up 27.0% from ₹0.37 crore in Q2 FY26 and 46.9% from ₹0.32 crore in Q1 FY27.
- Profit before tax increased to ₹0.56 crore from ₹0.46 crore a year earlier, and basic EPS was ₹0.04 versus ₹0.03.
- Total assets rose to ₹33.95 crore and borrowings increased to ₹17.25 crore as of 30 September 2026.
How did Kenvi Jewels perform in Q2 FY27?
Kenvi Jewels reported standalone revenue of ₹37.28 crore for Q2 FY27, down 18.7% from ₹45.88 crore in Q2 FY26 but up 95.6% from ₹19.06 crore in Q1 FY27. EBITDA rose to ₹0.99 crore from ₹0.63 crore a year earlier, and the margin increased by 1.3 percentage points to 2.7%.
Profit before tax was ₹0.56 crore, up 21.7% from ₹0.46 crore in Q2 FY26 and 51.4% from ₹0.37 crore in the previous quarter. Net profit increased to ₹0.47 crore from ₹0.37 crore and ₹0.32 crore, respectively, while basic EPS was ₹0.04.
The board approved the unaudited standalone financial results for the quarter and half-year ended 30 September 2026 on 30 October 2026. The company operates within a single primary business segment.
Against Q1 FY27, EBITDA was higher by ₹0.37 crore and the margin was lower by 0.6 percentage points. Net profit margin declined by 0.5 percentage points to 1.2%, while profit before tax increased by ₹0.19 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 37.28 | 19.06 | 45.88 | −18.7% | +95.6% |
| Other income | 0 | 0 | 0 | ||
| Total expenses | 36.72 | 18.69 | 45.42 | −19.2% | +96.5% |
| EBITDA | 0.99 | 0.62 | 0.63 | +57.1% | +59.7% |
| EBITDA margin | 2.7% | 3.3% | 1.4% | +1.3 pp | −0.6 pp |
| Profit before tax | 0.56 | 0.37 | 0.46 | +21.7% | +51.4% |
| Tax | 0.10 | 0.06 | 0.09 | +11.1% | +66.7% |
| Net profit | 0.47 | 0.32 | 0.37 | +27.0% | +46.9% |
| EPS (₹) | 0.04 | 0.03 | 0.03 | +33.3% | +33.3% |
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 Kenvi Jewels' costs and profit?
Cost of materials consumed fell by ₹11.44 crore, or 23.9%, to ₹36.42 crore from ₹47.86 crore in Q2 FY26. Total expenses declined by ₹8.70 crore, or 19.2%, to ₹36.72 crore, while revenue fell by ₹8.60 crore, or 18.7%.
Employee cost increased by ₹0.41 crore to ₹0.54 crore, finance costs rose by ₹0.25 crore to ₹0.42 crore, and other expenses increased by ₹0.18 crore to ₹0.56 crore. Other income remained unchanged and there was no exceptional item.
Tax expense increased by ₹0.01 crore, or 11.1%, to ₹0.10 crore from ₹0.09 crore. Profit before tax rose by ₹0.10 crore to ₹0.56 crore, while net profit increased by ₹0.10 crore to ₹0.47 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 36.42 | 47.86 | −11.44 | −23.9% |
| Employee cost | 0.54 | 0.13 | +0.41 | +315.4% |
| Finance costs | 0.42 | 0.17 | +0.25 | +147.1% |
| Depreciation | 0 | 0 | 0 | |
| Other expenses | 0.56 | 0.38 | +0.18 | +47.4% |
| Total expenses | 36.72 | 45.42 | −8.70 | −19.2% |
| Other income | 0 | 0 | 0 | |
| Tax | 0.10 | 0.09 | +0.01 | +11.1% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As of 30 September 2026, total assets stood at ₹33.95 crore, compared with ₹30.85 crore at 31 March 2026, while total equity was ₹16.39 crore against ₹15.93 crore. Borrowings increased to ₹17.25 crore from ₹14.01 crore.
Cash and cash equivalents rose to ₹1.51 crore from ₹1.28 crore. Inventories increased to ₹25.99 crore from ₹24.75 crore, and trade receivables increased to ₹5.15 crore from ₹3.42 crore. Trade payables were ₹0.11 crore at the latest balance sheet date.
For H1 FY27, operating cash flow was negative ₹2.55 crore, compared with negative ₹4.72 crore in H1 FY26. Investing cash flow was negative ₹0.03 crore against negative ₹0.02 crore, while financing cash flow was positive ₹2.81 crore against positive ₹1.48 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 33.95 | 30.85 |
| Total equity | 16.39 | 15.93 |
| Borrowings | 17.25 | 14.01 |
| Cash and equivalents | 1.51 | 1.28 |
| Inventories | 25.99 | 24.75 |
| Trade receivables | 5.15 | 3.42 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −2.55 | −4.72 |
| Cash from investing | −0.03 | −0.02 |
| Cash from financing | 2.81 | 1.48 |
| Capital expenditure | 0 | 0 |
Source: Company's results filing (XBRL).
How has Kenvi Jewels done over the last 8 quarters?
Revenue reached its highest level in the series at ₹55.26 crore in Q4 FY25 and its lowest at ₹19.06 crore in Q1 FY27. It rose to ₹37.28 crore in Q2 FY27 from ₹19.06 crore, but remained below ₹45.88 crore in Q2 FY26.
Net profit peaked at ₹0.47 crore in Q2 FY27, while its low was a loss of ₹0.17 crore in Q4 FY26. Profit had risen year on year in each of the last two quarters.
EBITDA margin reached its peak at 3.3% in Q1 FY27 and its low at 0.6% in Q4 FY26. It eased to 2.7% in Q2 FY27 from 3.3%, but was above 1.4% in Q2 FY26 and 1.7% in Q3 FY26.
How did Kenvi Jewels shares react?
The stock fell 2.1% within five minutes of the filing. On the reaction day, it fell 2.6% from its pre-results close, while the industry median was down 0.1%; the stock underperformed the sector by 2.5 percentage points.
Earlier reaction-day moves included declines of 3.9% on 12 August 2026 and 2.1% on 14 November 2025. The stock also moved down 0.8% on 13 February 2026, while earlier results days included gains of 1.7% on 14 August 2025 and 4.6% on 24 July 2024.
| After the filing | Stock | Gems, Jewellery And Watches median |
|---|---|---|
| 5 minutes | −2.1% | |
| Reaction day | −2.6% | −0.1% |
| Next day | −7.4% | +1.0% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 12 August 2026 | −3.9% |
| 30 May 2026 | +0.0% |
| 13 February 2026 | −0.8% |
| 14 November 2025 | −2.1% |
| 14 August 2025 | +1.7% |
| 28 May 2025 | +0.9% |
| 24 October 2024 | −4.2% |
| 24 July 2024 | +4.6% |
Source: MarketPing price-reaction measurement.
How did other Gems, Jewellery And Watches companies do?
Thirteen other Gems, Jewellery And Watches companies were compared for the quarter, and their median revenue growth was 18.3%. Eleven grew faster than Kenvi Jewels, while two grew more slowly.
Of the 11 peers for which profit was compared, seven reported higher profit. The peer comparison was available as of 4 November 2026.
| Kenvi Jewels revenue growth (YoY) | −18.7% |
|---|---|
| Median of 13 other Gems, Jewellery And Watches companies | +18.3% |
| Companies with slower revenue growth than Kenvi Jewels | 2 of 13 |
| Companies with faster revenue growth than Kenvi Jewels | 11 of 13 |
| Companies whose net profit rose | 7 of 11 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Kenvi Jewels' revenue in Q2 FY27?
Revenue from operations was ₹37.28 crore, down 18.7% from ₹45.88 crore in Q2 FY26 (standalone).
Did Kenvi Jewels make a profit in Q2 FY27?
Yes. Net profit was ₹0.47 crore, against a net profit of ₹0.37 crore in Q2 FY26.
What was Kenvi Jewels' EPS in Q2 FY27?
Basic earnings per share were ₹0.04, against ₹0.03 in Q2 FY26.
How did Kenvi Jewels shares react to the Q2 FY27 results?
On the reaction day the stock moved −2.6% from the previous close; the median Gems, Jewellery And Watches stock moved −0.1%.
When did Kenvi Jewels announce its Q2 FY27 results?
On 30 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Unaudited Financial Results For Quarter And Half-Year Ended Sept. 30, 2026 (BSE, 27 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting Held On Friday, 30Th October, 2026. (BSE, 30 October 2026) · PDF
- Financial Result For Half Year Ended 30Th September, 2026 (BSE, 30 October 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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