RBZ Jewellers reports Rs 9.09 cr Q1 profit as retail plans expand
Standalone operating margin was 14.83%, while management linked the quarter's revenue performance to demand, jewellery sales and stronger brand recall.
Filed 11 Aug 2026, 16:42 IST · after market close · RBZJEWEL (RBZJEWEL)
Key takeaways
- RBZ Jewellers reported standalone net profit of Rs 9.09 cr on operating profit of Rs 17.92 cr in Q1FY27.
- Interest expense of Rs 4.23 cr was far more material than other income of Rs 0.11 cr, limiting the contribution of non-operating items to profit.
- Management said it plans flagship showrooms in Surat by Q2FY27 and Rajkot by early Q3FY27 as it expands direct customer access.
Operating profit led the standalone result
RBZ Jewellers generated standalone operating profit of Rs 17.92 cr from revenue of Rs 120.8 cr, resulting in a 14.83% operating margin. Interest expense of Rs 4.23 cr was the main below-operating charge, while other income was only Rs 0.11 cr. After depreciation of Rs 1.64 cr and tax of Rs 3.07 cr, net profit was Rs 9.09 cr and EPS was Rs 2.27.
Demand supported sales as the company builds its retail reach
Management attributed the quarter's revenue performance to customer demand, higher jewellery sales and stronger brand recall. The company said it used five jewellery exhibitions and trade shows during Q1FY27 to showcase collections, deepen trade relationships and widen customer reach. Management also said it is targeting maximum utilisation of existing manufacturing capacity by FY26 and plans to develop the current capacity for a wider product mix, including captive consumption. It said flagship stores are planned in Surat and Rajkot, alongside mid-sized stores in Maninagar and Gandhinagar.
The filing came after market close
The standalone results were filed after market close on 11 August 2026. The presentation also records digital marketing campaigns for occasion-wear and daily-wear collections, adding a direct-consumer channel to the exhibition-led outreach.
Q1FY27 at a glance
Standalone figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹121 cr |
| Other income | ₹0 cr |
| Expenses | ₹103 cr |
| Operating profit | ₹18 cr |
| Operating margin (%) | 14.83% |
| Interest | ₹4 cr |
| Depreciation | ₹2 cr |
| Profit before tax | ₹12 cr |
| Tax | ₹3 cr |
| Net profit | ₹9 cr |
| EPS (₹) | ₹2.27 |
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
This quarter
- Quarterly revenue growth was driven by robust customer demand, higher jewellery sales and strengthening brand recall.
- The company used five Q1 FY27 exhibitions to showcase collections, strengthen trade relationships and expand customer reach.
Guidance & outlook
- The company is targeting maximum utilisation of its existing manufacturing capacity by FY26.
- The company plans to develop current capacity for a wider product mix, including captive consumption.
Planned next quarter
- The company plans to open its flagship Surat showroom by Q2 FY27.
- The company plans to open its flagship Rajkot showroom by early Q3 FY27.
Expansion
- The company plans flagship showrooms in Surat and Rajkot and mid-sized stores in Maninagar and Gandhinagar.
- The company plans to expand its retail presence across Gujarat to strengthen geographic presence and direct customer access.
New initiatives
- The company participated in five jewellery exhibitions and trade shows during Q1 FY27.
- The company launched multiple digital marketing campaigns for occasion-wear and daily-wear collections.
Competition
- The company commands approximately 1% of India's organised wholesale gold jewellery market.
What to watch
- Whether operating margin moves above or below 14.83% as the retail footprint expands.
- Whether the Surat flagship showroom opens by Q2FY27 and the Rajkot showroom by early Q3FY27, as management said.
- Whether interest expense remains around or below Rs 4.23 cr while the company develops its manufacturing capacity.