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Earnings Call Transcript

Khazanchi Jewellers Earnings Call Transcript: Key Takeaways

Khazanchi Jewellers delivered robust Q1 growth, transitioning toward main-board listing while shifting focus to a high-margin retail-heavy model.

Guidance and delivery
Revenue guidance 25.0% → 30.0% Raised by 5.0 percentage points
Management target Revenue 30.0% FY27
Highlights
Revenue growth45% YoY to ₹586.36 Cr, driven by B2B and retail scale.
MarginsEBITDA margins improved 158 bps to 6.82% via retail mix shift.
Order bookB2B orders active; retail demand matching target run rates of ₹35cr/month.
Demand visibilityStrong outlook for upcoming festive and wedding seasons despite price volatility.
Management confidenceHighly optimistic, emphasizing successful three-year growth journey and main-board migration.

Growth

Revenue grew 45% YoY to ₹586.36 Cr, with PAT increasing 84% due to favorable operating leverage.

Outlook

Management targets ₹5,000 Cr revenue by 2030 with a 40% retail contribution share.

Risks

Rising gold prices could temporarily dampen demand; retail expansion requires significant working capital and inventory funding.

Last quarter's promises, checked

Delivered

  • Guided 25-30% Revenue Growth → Delivered 45% YoY (= BEAT)
  • Guided 10-12% Retail Margin → Delivered 11.6% implied via mix (= BEAT)
  • Guided ₹450-500 Cr Flagship Revenue → Delivered run-rate of ₹420-450 Cr (= BEAT)

Partly delivered

  • Guided 25% Retail Sales Mix → Delivered increasing but currently below target (= PARTIAL)
Source

Earnings Call Transcript filed with BSE, BSE: 543953. Summary written with AI assistance from the document.

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Khazanchi Jewellers Ltd: key numbers

Share price
₹727.00
Market cap
₹1,799 Cr
Revenue (annual)
₹2,049 Cr
Net profit (annual)
₹89.42 Cr
P/E (TTM)
20.1×Sector 55.7×
Promoter holding
74.51%+0.00% QoQ
FII holding
0.02%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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Earnings Call

Khazanchi Jewellers Earnings Call: Key Takeaways

Khazanchi Jewellers Ltd reports strong FY26 growth, transitioning from B2B wholesale focus to high-margin B2C retail with a new 10,000 sq. ft. flagship showroom in Chennai.