Standalone Q4FY26 earnings came almost entirely from operations
Operating margin was 29.04%, while management outlined a 27,790 sq. ft. Jaipur flagship and wider franchise-led expansion.
Filed 02 Sep 2026, 14:23 IST · RAMBHAJO (RAMBHAJO)
Key takeaways
- Standalone Q4FY26 earnings came almost entirely from operations, with other income at just Rs 0.01 cr against Rs 10.67 cr of profit before tax.
- The business reported a 29.04% operating margin, while interest of Rs 1.42 cr and depreciation of Rs 0.47 cr reduced operating profit before tax.
- Management said it plans a 27,790 sq. ft. flagship store in Jaipur alongside franchise-led expansion into Tier 1 and Tier 2 cities.
Operations supplied the Q4FY26 earnings
The standalone earnings bridge was operational rather than financial: operating profit of Rs 12.55 cr was reduced by Rs 1.42 cr of interest and Rs 0.47 cr of depreciation before tax. Other income was only Rs 0.01 cr, so it did not materially influence profit before tax of Rs 10.67 cr. The 18.12% tax rate left net profit at Rs 8.74 cr, with EPS of Rs 2.79.
Jaipur flagship anchors the expansion plan
Management said it plans to develop a 27,790 sq. ft. flagship store in Jaipur. The company also said it plans to widen its retail reach through franchising and expansion into Tier 1 and Tier 2 cities. These plans point to a retail-led growth strategy rather than reliance on other income.
Design and digital efforts support the retail push
Management said its in-house design team is working on new jewellery concepts and product variations aligned with market trends. The company also said it is enhancing its online presence through social media and digital platforms while expanding across high-potential markets in India.
Q4FY26 at a glance
Standalone figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q4FY26 |
|---|---|
| Revenue | ₹43 cr |
| Other income | ₹0 cr |
| Expenses | ₹31 cr |
| Operating profit | ₹13 cr |
| Operating margin (%) | 29.04% |
| Interest | ₹1 cr |
| Depreciation | ₹0 cr |
| Profit before tax | ₹11 cr |
| Tax | ₹2 cr |
| Net profit | ₹9 cr |
| EPS (₹) | ₹2.79 |
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
Expansion
- The company plans to develop a flagship store in Jaipur with 27,790 sq. ft. of constructed area.
- The company plans to expand its retail reach through franchising and expansion into Tier 1 and Tier 2 cities.
- The company is expanding its presence across high-potential markets in India.
New products
- The company is developing new concepts and product variations through its in-house design team.
New initiatives
- The company is developing innovative jewellery collections aligned with market trends.
- The in-house design team is focusing on new concepts and product variations.
- The company is enhancing its online presence through social media and digital platforms.
What to watch
- Whether operating margin holds at or above 29.04%.
- Progress on the planned 27,790 sq. ft. Jaipur flagship store.
- Whether the stated franchise and Tier 1 and Tier 2 city expansion moves beyond the current plan.