PNGS Reva Diamond Jewellery Q2 FY27 results: net profit ₹23.29 crore

How did PNGS Reva Diamond Jewellery perform in Q2 FY27?

PNGS Reva Diamond Jewellery reported standalone revenue from operations of ₹120.54 crore in Q2 FY27, up 2.2% from ₹117.97 crore in Q1 FY27. EBITDA fell 15.4% to ₹28.71 crore from ₹33.93 crore, and the EBITDA margin declined 5.0 percentage points to 23.8% from 28.8%. Total expenses increased 8.7% to ₹94.76 crore during the quarter.

Profit before tax was ₹31.03 crore, down 14.8% from ₹36.40 crore in Q1 FY27. The company reported a net profit of ₹23.29 crore, down 14.4% from ₹27.21 crore, while basic EPS fell 14.3% to ₹7.35 from ₹8.58. There was no exceptional item. For H1 FY27, revenue was ₹238.51 crore and net profit was ₹50.5 crore.

What do the balance sheet and cash flow show?

Total assets increased to ₹790.8 crore as of 30 September 2026 from ₹715.39 crore on 31 March 2026. Equity rose to ₹560.63 crore from ₹515.2 crore, while borrowings declined to ₹127.84 crore from ₹165.88 crore. Cash and cash equivalents fell to ₹72.06 crore from ₹114.22 crore.

Inventories increased to ₹460.41 crore from ₹335.55 crore, trade receivables declined to ₹0.23 crore from ₹2.24 crore, and trade payables rose to ₹80.37 crore from ₹20.16 crore. For H1 FY27, operating cash flow was negative ₹5.22 crore, investing cash flow was ₹17.08 crore and financing cash flow was negative ₹54.02 crore. No comparable year-earlier cash-flow figures were provided.

Capital expenditure during H1 FY27 was ₹1.86 crore. The provided excerpts do not include a closing cash figure for the cash-flow statement or a year-earlier operating, investing and financing comparison.

What else did the company announce?

On 26 October 2026, the board approved the unaudited standalone financial results for the quarter and half year ended 30 September 2026, following review by the audit committee. MSKA & Associates LLP issued an unmodified limited-review conclusion, stating that nothing had come to its attention indicating that the required information had not been disclosed or that the statement contained any material misstatement.

The company also submitted an investor presentation on 26 October 2026. It reported the launch of its e-commerce platform on 16 September 2026, three COCO stores launched during FY27 and the addition of Sharvari Wagh as brand ambassador. The presentation also referred to a 15-store, 24-month target. The same-day filings did not announce a dividend or fund raise, and no appointment was stated.

What did PNGS Reva Diamond Jewellery's management say?

Management said H2 FY27 year-on-year revenue growth was expected at 40–45%, while an INR800 crore full-year top line was not expected. It said H2 could contribute 45–55% of FY27 sales rather than the historical 35%/65% split. The CEO said, “The H2 will be in line with the H1, and we expect the good numbers, good figures as at end of the year, that is H2 as a whole plus H1 as a whole.”

Management maintained the 15-EBO, 24-month target and said at least three additional EBOs were planned in H2 FY27. It expected at least 35–40% same-store sales growth from existing SIS stores. New EBOs take 15–18 months to contribute, and meaningful profit contribution was expected from Q4 FY28 onward. The CEO said, “As EBOs will keep on coming up, the EBOs will contribute only after 15 or 18 months to my earnings.”

Management expected FY27 EBITDA margin around 26%, subject to approximately 200 basis points of variability from launch marketing. It identified drought across more than 85% of Maharashtra, inflation, changing consumer preferences and the absence of expected support from gold-price appreciation as risks. The CEO said, “This year, it is 85%-plus Maharashtra is under drought condition, and we are mainly operating in Maharashtra.”

Management said October was not comparable year on year because Diwali shifted to 5–14 November. It also referred to e-commerce as a catalogue and showroom lead-generation channel, while customer migration from plain gold to studded natural diamonds supported demand. No analyst questions were recorded in the provided information.

How did PNGS Reva Diamond Jewellery shares react?

By the next day's close, the stock was down 7.0% from its pre-results close; by the fifth session, it was down 4.2%. The other Gems Jewellery And Watches stocks had a median move of 0.1% on the reaction day, 0.6% by the next close and negative 0.8% by the fifth close. PNGS Reva's relative moves were negative 13.6 percentage points, negative 7.6 percentage points and negative 3.4 percentage points, respectively.

Earlier reaction-day moves were positive 5.3% on 29 July 2026, negative 9.8% on 11 May 2026 and negative 2.3% on 13 March 2026. These moves describe the recorded price reactions to earlier results and do not indicate the direction of the shares after the Q2 FY27 filing.

How did other Gems Jewellery And Watches companies do?

Among 12 other Gems Jewellery And Watches companies that had filed for the quarter, the median revenue growth was 42.4%. PNGS Reva Diamond Jewellery’s peers_growing_slower_than_company and peers_growing_faster_than_company counts were not provided, so the number of peers on either side of its growth cannot be stated from the available data.

Of the 12 peers for which profit was compared, nine reported higher profit. The peer comparison was available as of 4 November 2026.