Augmont’s 0.28% margin sits 13.59 points below the peer median
Management linked the margin pressure to domestic scrap-sourcing costs and Middle East disruption; SPOT revenue grew 55% year on year.
Filed 21 Sep 2026, 20:22 IST · after market close · Augmont Enterprises Ltd (AUGMONT)
Key takeaways
- Augmont’s consolidated operating margin was 0.28%, 13.59 percentage points below the 13.87% median for 161 reported Commodities peers.
- Management said accelerated domestic scrap sourcing caused near-term acquisition costs and compressed margins, while SPOT revenue grew 55% year on year.
- Other income of Rs 31.04 cr was a meaningful contributor to profit before tax of Rs 81.79 cr, against operating profit of Rs 53.08 cr.
Price around the results
Operating profit remained thin despite large revenue
Augmont reported consolidated revenue of Rs 18,945.58 cr against expenses of Rs 18,892.51 cr, leaving operating profit of Rs 53.08 cr and an operating margin of 0.28%. Other income of Rs 31.04 cr helped lift profit before tax to Rs 81.79 cr, making the reported pre-tax result less representative of the operating spread. Net profit was Rs 60.85 cr after tax of Rs 20.93 cr.
Scrap sourcing and disruption weighed on margins
Management said geopolitical disruption in the Middle East and elevated crude oil prices reduced export volumes year on year during the quarter. The company also said accelerating domestic scrap-gold sourcing through new recycling partners brought near-term acquisition costs and compressed margins. Management said it expects these recycling relationships to mature and contribute to improved margins over the coming quarters.
SPOT and Gold Loans were the main growth pockets
Management said SPOT revenue grew 55% year on year, while Gold Loans AUM expanded 134% year on year to Rs 1,270 cr. The company said SPOT 2.0 is intended to bring multiple jeweller services onto one platform and that it plans to increase jeweller onboarding. Management also said the EGR product is expected to launch during the current financial year after Augmont signed an MOU with NSE.
Margin ranked near the bottom of the sector
Among 161 Commodities peers that had reported the same quarter, Augmont’s 0.28% operating margin was 13.59 percentage points below the 13.87% sector median and ranked eighth from the bottom. The results were filed after market close, leaving the immediate stock response outside this update.
Q1FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹18,946 cr |
| Other income | ₹31 cr |
| Expenses | ₹18,893 cr |
| Operating profit | ₹53 cr |
| Operating margin (%) | 0.28% |
| Interest | ₹0 cr |
| Depreciation | ₹2 cr |
| Profit before tax | ₹82 cr |
| Tax | ₹21 cr |
| Net profit | ₹61 cr |
| EPS (₹) | ₹6.91 |
Operating margin of 0.28% compares with a Commodities sector median of 13.87% across 161 peers that have reported Q1FY27.
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
This quarter
- SPOT revenue grew 55% year on year during the quarter.
- Gold Loans AUM expanded 134% year on year to ₹1,270 crore.
Guidance & outlook
- Augmont expects new recycling relationships to mature and contribute to improved margins over the coming quarters.
- The EGR product is expected to launch during the current financial year.
Expansion
- SPOT 2.0 plans to increase the onboarding of jewellers.
New initiatives
- Augmont accelerated domestic scrap-gold sourcing by onboarding new recycling partners and deepening ecosystem relationships.
- Augmont signed an MOU with NSE to develop an Electronic Gold Receipts ecosystem.
- SPOT 2.0 is intended to bring multiple jeweller services onto one platform.
Competition
- Augmont says it has India's No. 1 Gold Platform recognition for the second consecutive year.
Problems & risks
- The quarter faced geopolitical disruptions in the Middle East and elevated crude oil prices.
- Geopolitical disruptions in the Middle East reduced export volumes year on year during the quarter.
- Accelerating domestic scrap sourcing caused near-term acquisition costs and compressed margins.
- International sales were unusually concentrated in the prior-year first quarter, contributing to a year-on-year PAT decline.
What to watch
- Whether operating margin moves up from 0.28% as new recycling relationships mature.
- Whether SPOT growth follows the reported 55% year-on-year increase.
- Whether Gold Loans AUM moves beyond Rs 1,270 cr.