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Shringar House of Mangalsutra Q2 FY27 results: net profit up 72.7% to ₹39.47 crore, revenue up 54.8%
Shringar House of Mangalsutra Limited reported standalone revenue of ₹818.66 crore in Q2 FY27, up 54.8% from ₹528.80 crore in the year-ago quarter. Net profit rose to ₹39.47 crore from ₹22.85 crore, while EBITDA margin was 6.7%, up 0.5 percentage points from a year earlier but lower than the previous quarter.
Key points
- Q2 FY27 revenue was ₹818.66 crore, up 54.8% from ₹528.80 crore in Q2 FY26 and up 49.3% from ₹548.49 crore in Q1 FY27.
- EBITDA rose to ₹54.94 crore from ₹32.56 crore a year earlier, with margin at 6.7% against 6.2%.
- Net profit was ₹39.47 crore, up 72.7% from ₹22.85 crore, and basic EPS was ₹4.09 against ₹2.99.
- Profit before tax was ₹52.64 crore, up 75.1% from ₹30.07 crore, and tax was ₹13.17 crore against ₹7.23 crore.
- For H1 FY27, revenue was ₹1,367.15 crore and net profit was ₹73.47 crore, up 58.7% and 43.1% respectively from a year earlier.
How did Shringar House of Mangalsutra perform in Q2 FY27?
Shringar House of Mangalsutra recorded revenue of ₹818.66 crore in the quarter ended 30 September 2026, up 54.8% from ₹528.80 crore in Q2 FY26 and 49.3% from ₹548.49 crore in Q1 FY27. Total income was ₹820.28 crore, against ₹529.34 crore a year earlier and ₹549.84 crore in the previous quarter.
EBITDA was ₹54.94 crore, up from ₹32.56 crore in the year-ago quarter and ₹48.94 crore in Q1 FY27. EBITDA margin was 6.7%, compared with 6.2% a year earlier and 8.9% in the previous quarter. Profit before tax was ₹52.64 crore against ₹30.07 crore a year earlier, while net profit was ₹39.47 crore against ₹22.85 crore, with a net margin of 4.8%. Basic EPS was ₹4.09, up from ₹2.99 a year earlier and ₹3.53 in Q1 FY27. The results are on a standalone basis.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 818.66 | 548.49 | 528.80 | +54.8% | +49.3% |
| Other income | 1.62 | 1.34 | 0.54 | +200.0% | +20.9% |
| Total expenses | 767.64 | 502.90 | 499.26 | +53.8% | +52.6% |
| EBITDA | 54.94 | 48.94 | 32.56 | +68.7% | +12.3% |
| EBITDA margin | 6.7% | 8.9% | 6.2% | +0.5 pp | −2.2 pp |
| Profit before tax | 52.64 | 46.93 | 30.07 | +75.1% | +12.2% |
| Tax | 13.17 | 12.93 | 7.23 | +82.2% | +1.9% |
| Net profit | 39.47 | 34 | 22.85 | +72.7% | +16.1% |
| EPS (₹) | 4.09 | 3.53 | 2.99 | +36.8% | +15.9% |
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 Shringar House of Mangalsutra's costs and profit?
Total expenses rose to ₹767.64 crore in Q2 FY27 from ₹499.26 crore in the year-ago quarter, an increase of ₹268.38 crore. Cost of materials was ₹505.31 crore, up ₹64.10 crore from ₹441.21 crore, while employee cost rose ₹2.61 crore to ₹6.66 crore and depreciation increased ₹0.60 crore to ₹1.36 crore.
Finance costs were ₹2.56 crore, up ₹0.30 crore from ₹2.26 crore, and other expenses fell ₹1.39 crore to ₹6.41 crore from ₹7.80 crore. Other income increased ₹1.08 crore to ₹1.62 crore from ₹0.54 crore. There was no exceptional item in the quarter. Tax was ₹13.17 crore, up ₹5.94 crore from ₹7.23 crore. Against the previous quarter, total expenses rose ₹264.74 crore and cost of materials fell ₹61.89 crore to ₹505.31 crore from ₹567.20 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 505.31 | 441.21 | +64.10 | +14.5% |
| Employee cost | 6.66 | 4.05 | +2.61 | +64.4% |
| Finance costs | 2.56 | 2.26 | +0.30 | +13.3% |
| Depreciation | 1.36 | 0.76 | +0.60 | +78.9% |
| Other expenses | 6.41 | 7.80 | −1.39 | −17.8% |
| Total expenses | 767.64 | 499.26 | +268.38 | +53.8% |
| Other income | 1.62 | 0.54 | +1.08 | +200.0% |
| Tax | 13.17 | 7.23 | +5.94 | +82.2% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For the first half of FY27, revenue was ₹1,367.15 crore, up 58.7% from ₹861.40 crore in H1 FY26. Total income rose to ₹1,370.12 crore from ₹862.00 crore, an increase of 58.9%.
Profit before tax for the first half was ₹99.57 crore, up 45.7% from ₹68.33 crore, while net profit was ₹73.47 crore against ₹51.35 crore, up 43.1%. Basic EPS for the half year was ₹4.09, down from ₹6.91 in H1 FY26.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 1,367 | 861.40 | +58.7% |
| Profit before tax | 99.57 | 68.33 | +45.7% |
| Net profit | 73.47 | 51.35 | +43.1% |
| EPS (₹) | 4.09 | 6.91 | −40.8% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As at 30 September 2026, total assets were ₹1,031.40 crore against ₹891.74 crore at 31 March 2026. Total equity rose to ₹751.26 crore from ₹677.79 crore, and borrowings increased to ₹226.04 crore from ₹179.30 crore. Cash and cash equivalents were ₹4.11 crore, lower than ₹26.18 crore at the previous balance sheet date.
Inventories were ₹488.82 crore, up from ₹439.44 crore at 31 March 2026, and trade receivables rose to ₹357.55 crore from ₹235.75 crore. Trade payables were ₹28.09 crore against ₹9.27 crore. In H1 FY27, operating cash flow was negative ₹77.91 crore, compared with negative ₹412.12 crore a year earlier, while financing cash flow was ₹41.31 crore against ₹416.16 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 1,031 | 891.74 |
| Total equity | 751.26 | 677.79 |
| Borrowings | 226.04 | 179.30 |
| Cash and equivalents | 4.11 | 26.18 |
| Inventories | 488.82 | 439.44 |
| Trade receivables | 357.55 | 235.75 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −77.91 | −412.12 |
| Cash from investing | 14.53 | −3.11 |
| Cash from financing | 41.31 | 416.16 |
| Capital expenditure | 0 | 0 |
Source: Company's results filing (XBRL).
How has Shringar House of Mangalsutra done over the last 6 quarters?
Revenue rose year on year in each of the last two quarters. It reached ₹818.66 crore in Q2 FY27, the highest of the six quarters shown, compared with a low of ₹332.61 crore in Q1 FY26. Revenue fell from ₹725.56 crore in Q4 FY26 to ₹548.49 crore in Q1 FY27 before rising again in the latest quarter.
Net profit reached ₹39.47 crore in Q2 FY27, up from ₹34.01 crore in Q4 FY26 and ₹34.00 crore in Q1 FY27, against a low of ₹22.85 crore in Q2 FY26. EBITDA margin rose from 6.1% in Q3 FY26 to 8.9% in Q1 FY27, then eased to 6.7% in Q2 FY27.
How did other Gems Jewellery And Watches companies do?
Eleven Gems Jewellery And Watches companies filed results for the quarter, with a median revenue growth of 39.7%. Eight peers grew slower than Shringar House of Mangalsutra, and three grew faster. Of the 11 peers whose profit was compared, eight reported higher profit.
| Shringar House of Mangalsutra revenue growth (YoY) | +54.8% |
|---|---|
| Median of 11 other Gems Jewellery And Watches companies | +39.7% |
| Companies with slower revenue growth than Shringar House of Mangalsutra | 8 of 11 |
| Companies with faster revenue growth than Shringar House of Mangalsutra | 3 of 11 |
| Companies whose net profit rose | 8 of 11 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Shringar House of Mangalsutra's revenue in Q2 FY27?
Revenue from operations was ₹818.66 crore, up 54.8% from ₹528.80 crore in Q2 FY26 (standalone).
Did Shringar House of Mangalsutra make a profit in Q2 FY27?
Yes. Net profit was ₹39.47 crore, against a net profit of ₹22.85 crore in Q2 FY26.
What was Shringar House of Mangalsutra's EPS in Q2 FY27?
Basic earnings per share were ₹4.09, against ₹2.99 in Q2 FY26.
When did Shringar House of Mangalsutra announce its Q2 FY27 results?
On 4 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for To Be Held On Wednesday, 04Th November, 2026 (BSE, 27 October 2026) · PDF
- Financial Results For The Quarter And Half Year Ended September 30, 2026 (BSE, 4 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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