Manoj Jewellers Limited Reports Strong FY26 Results: Revenue Up 91.5%, PAT Up 89.4%, EBITDA Up 63.3%

VMPL
Chennai (Tamil Nadu) [India], May 18: Manoj Jewellers Limited, a Chennai-based retailer and wholesaler of hallmarked gold, diamond, and silver jewellery, announced its audited financial results for the second half and full financial year ended 31 March 2026. The Company delivered its highest-ever annual performance, with full financial year Total Income growing 91.5% YoY to ₹11,419.9 lakhs, EBITDA growing 63.3% YoY to ₹1,365.4 lakhs, PAT growing 89.4% YoY to ₹902.4 lakhs, and EPS rising 30.7% YoY to ₹10.4 -- supported by a rapid scale-up of the wholesale business and two new product line launches during the year.
H2 FY26 Financial Highlights
Total Income of ₹4,505.7 lakhs, up 29.3% YoY (H2 FY25: ₹3,484.5 lakhs).
EBITDA of ₹547.9 lakhs, up 28.8% YoY; EBITDA margin held steady at 12.16% (H2 FY25: 12.21%) despite a sharp rise in gold prices and broader demand headwinds during the period -- demonstrating resilience of the business model at scale.
Profit After Tax (PAT) of ₹336.9 lakhs, up 34.5% YoY; PAT margin at 7.48% (H2 FY25: 7.19%).
EPS for H2 FY26: ₹3.75 (H2 FY25: ₹4.18).
Full-Year FY26 Financial Highlights
Total Income of ₹11,419.9 lakhs, up 91.5% YoY (FY25: ₹5,963.9 lakhs) -- highest-ever annual Total Income.
EBITDA of ₹1,365.4 lakhs, up 63.3% YoY; EBITDA margin at 11.96% (FY25: 14.02%), reflecting a planned mix shift toward the high-growth B2B wholesale business, which scaled significantly faster than the retail segment during the year.
PAT of ₹902.4 lakhs, up 89.4% YoY; PAT margin at 7.90% (FY25: 7.99%).
EPS of ₹10.4 for FY26 (FY25: ₹7.96), up 30.7% YoY.

Launched the "Thanga Kovil" lightweight temple jewellery collection during FY26, targeted at both wholesale and retail channels, expanding the Company's addressable market in the fast-growing lightweight gold segment.
Introduced a dedicated traditional yellow gold jewellery line catering to South India's strong cultural preference for yellow-gold ornaments, deepening the Company's positioning in its core geography.
Participated in four major jewellery exhibitions across India during FY26 -- Hyderabad, Chennai, Mumbai, and Madurai -- strengthening brand visibility and expanding the Company's wholesale network across regions.
Added 7 new wholesale clients during FY26 alongside higher repeat orders from existing customers, driving B2B revenue growth of over 111% YoY in Q2 FY26 and reinforcing the Company's role as a trusted partner to the jewellery trade.
Charted a clear FY27 growth roadmap including the planned commissioning of an in-house bangle manufacturing unit, the launch of a new chains product line, and an increased focus on the old-gold exchange programme in line with the Government of India's stated policy direction.
Management Perspective
Mr. Manoj Jain, Managing Director, commented: "FY26 has been a defining year for Manoj Jewellers Limited, our first full year as a listed company. We nearly doubled our Total Income to ₹114.2 Cr and grew PAT by 89.4% to ₹9.02 Cr -- the highest in the Company's history. The performance was driven by a deliberate scale-up of our B2B wholesale business, which grew faster than our retail showrooms, complemented by two new product launches -- the Thanga Kovil lightweight temple jewellery collection and a dedicated traditional yellow gold line for the South Indian market.
We are particularly pleased that our H2 EBITDA margin held steady at 12.16% despite a sharp rise in gold prices and broader demand headwinds -- a clear sign that our business model is stabilising as it scales.
Looking ahead to FY27, we are focused on three priorities: (i) commissioning our own bangle manufacturing unit to bring a key product category in-house, (ii) launching a new chains product line and scaling the Thanga Kovil collection, and (iii) expanding our old-gold exchange programme in line with the Government of India's stated policy direction. We thank our shareholders, customers, employees, and partners for their continued trust and support."
About Manoj Jewellers Ltd.
Manoj Jewellers Limited (MJL), incorporated in 2007 is a Chennai-based retailer and wholesaler of hallmarked gold, diamond, and silver jewellery. The Company's B2C retail operations are run through two showrooms in Chennai -- a flagship store on NSC Bose Road, Sowcarpet, and a boutique in Kilpauk -- offering bridal, festive, and daily-wear jewellery in 22K and 18K gold, diamonds, and silver.
In parallel, MJL operates a fast-growing B2B wholesale business supplying hallmarked and designer jewellery to jewellers and bulk buyers across India, supported by an active presence at leading jewellery exhibitions. During FY26, the Company launched two new product lines -- the Thanga Kovil lightweight temple jewellery collection and a dedicated traditional yellow gold range for the South Indian market.
MJL was listed on the BSE SME platform during FY26. Rooted in a long-standing family legacy in Sowcarpet's jewellery quarter, the Company remains committed to purity, craftsmanship, and disciplined long-term growth in India's organised jewellery market.
Disclaimer
This document contains forward-looking statements that involve risks and uncertainties, including statements regarding the Company's expectations, beliefs, intentions, or strategies for the future. These statements are not historical facts and are subject to risks such as changes in economic conditions, government regulations, industry dynamics, and other factors beyond the Company's control. The Company assumes no obligation to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances. Investors are advised to exercise their own judgment before making any investment decisions based on this document.
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