AJC Jewel Manufacturers Ltd

Financial highlights

• Total Revenue ₹101.38 Cr in Q1FY27, up 124.69% YoY.
• EBITDA ₹4.64 Cr, up 193.67% YoY.
• PAT ₹2.38 Cr, up 318.70% YoY.
• PAT margin 2.35% and EPS ₹3.94.

Strategic & operational developments

• Upgraded B2B portal and ERP; established Design & Innovation Centre.
• Sharjah expansion progressing; completion aimed by H1FY27.
• Esthara Jewels D2C expansion; three showrooms opened Apr–Jul 2026.
• Target consolidated revenue CAGR ~50% over next three years.
• Expansion of manufacturing capacity and international footprint to GCC.

Market context and outlook

• Indian jewellery market to grow 6.5% CAGR 2026-2033; US$145bn by FY2028.
• Organised market share rising to 36-38% by FY25.
• Daily-wear jewellery accounts for 30-35% of market; growth in silver category.

Standalone results

• Standalone Q1 FY27 revenue from operations: 10,129.14.
• Standalone Q1 FY27 total income: 10,136.34.
• Standalone Q1 FY27 profit before tax: 338.29.
• Standalone Q1 FY27 tax expense: current 84.95, deferred 1.34.
• Standalone Q1 FY27 profit after tax: 252.00.
• Standalone Q1 FY27 basic/diluted EPS: 4.15.

Consolidated results

• Consolidated Q1 FY27 revenue from operations: 10,130.56.
• Consolidated Q1 FY27 total income: 10,137.76.
• Consolidated Q1 FY27 profit before tax: 323.51.
• Consolidated Q1 FY27 tax: current 84.95, deferred 0.61.
• Consolidated Q1 FY27 profit after tax: 237.95.
• Net profit attributable to owners: 239.35; minority interest: -1.29.
• Consolidated EPS basic/diluted: 3.94.

Meeting Details

• Board meeting scheduled for 13 August 2026 at the company's registered office.

Key Agenda Items

• Discuss, approve, and record unaudited standalone and consolidated financial results for quarter ended 30 June 2026.

Other Notes

• Trading window remains closed for 48 hours post-result declaration, until 15 August 2026.

Retail expansion

• Esthara Jewels Private Limited opened its third showroom at Market City Mall, Perinthalmanna, Malappuram, Kerala.
• Inaugurated on July 12, 2026, the showroom will retail silver jewellery.
• Expands Esthara Jewels' retail network within Kerala as part of AJC's retail expansion strategy.

Business Developments

• Third showroom of subsidiary Esthara Jewels opened at Market City Mall, Perinthalmanna, inaugurated 12-07-2026.
• Showroom to retail silver jewellery as part of expansion strategy.

Business Overview

• AJC runs an integrated B2B jewellery manufacturing platform with Esthara Jewels retail expansion in silver jewellery.
• Second Esthara Jewels showroom inaugurated; Chemmad, Kerala, June 19, 2026.
• D2C focus in Kerala strengthens direct-to-consumer presence alongside B2B gold jewellery.
• Esthara Jewels offers 925 sterling silver and gold-plated silver jewellery.
• Retail expansion targets omnichannel platform via company-owned stores and digital channels.

Key Operational Highlights

• Second Esthara Jewels showroom at Hilite Countryside Mall, Chemmad, commenced operations.
• Showroom launch supports direct-to-consumer expansion in Kerala.
• Strategy includes growth through company-owned stores and digital commerce to build omnichannel retail.
• Industry context supports growth in silver jewellery; GJEPC notes 52.21% YoY rise in exports.
• FY25-26 total gems and jewellery exports were USD 27.72B.

Financial Performance

• No revenue, EBITDA, or PAT figures disclosed in this chunk.
• Management guidance targets ~50% revenue CAGR over three years; standalone ₹450 crore in FY27.
• No segment/region-level financial details provided in this filing chunk.

Strategic Priorities & Outlook

• Strategic priority: expand Esthara Jewels retail network; integrate omnichannel platform.
• Aim to strengthen brand through company-owned stores and digital channels.
• Long-term growth driver: silver jewellery for affordable daily wear.
• Forecast ties to 50% CAGR and FY27 standalone ₹450 crore guidance.

Governance & Leadership

• Chairman & MD Ashraf P commented on expanding retail reach.

FY26 results

• Revenue from operations rose 32.17% to ₹291.39 crore.
• EBITDA increased 148.85% to ₹14.01 crore.
• PAT grew 173.62% to ₹7.83 crore.
• EBITDA margin improved to 4.81%; PAT margin to 2.69%.

Business developments

• Added new jewellery retail clients across key Indian markets.
• Sharjah facility expansion is underway for GCC and US markets.
• Sharjah revenue was excluded from FY26 performance due to integration delays.
• Launched Esthara Jewels D2C silver jewellery vertical and first Thrissur showroom.

Operations and technology

• Expanded CNC-machined jewellery production and design-led manufacturing capabilities.
• Proprietary B2B portal now offers 5,000+ jewellery designs.
• Management said advanced machinery reduced production costs and wastage.

Outlook

• Management targets approximately 50% consolidated revenue CAGR over the next three years.