Advit Jewels' first audited result: FY26 PAT ₹34.4 Cr up 36% on ₹167 Cr revenue; Q4 soft
PAT +35.6% YoY · revenue +33.7% · margins flat
₹167.02 Cr
+33.7% YoY
₹34.39 Cr
+35.6% YoY
20.59%
₹10.74
Advit Jewels (RAMBHAJO), the Jaipur gold-jewellery maker that listed on 1 Jul 2026, reported its first post-IPO numbers — audited FY26 revenue of ₹167.02 Cr, up 33.7% from ₹124.94 Cr, and net profit of ₹34.39 Cr, up 35.6% from ₹25.37 Cr. Net margin held broadly flat at ~20.6% (vs 20.3%), so profit growth tracked the topline rather than any margin lever; there were no exceptional items of size (a ₹0.01 Cr prior-period credit only), making reported and underlying growth the same. Bonus-adjusted EPS rose to ₹10.74 from ₹7.92. A cleaner read-through is cash: FY26 operating cash flow swung to a positive ₹13.33 Cr from negative ₹36.98 Cr a year earlier, as the working-capital drag eased — though inventory still climbed to ₹138.2 Cr from ₹107.2 Cr, absorbing ₹31 Cr.
Q1 FY-2027 vs prior quarters
No year-ago quarter on record — YoY cells may be blank.
The caveat sits in the fourth quarter, which is a balancing figure and came in soft: Q4 FY26 revenue of ₹43.23 Cr fell 27.8% YoY and PAT of ₹8.74 Cr fell 45.9%, with margin compressing to 20.2% from an unusually strong 27.0% in Q4 FY25 — a reminder that jewellery quarters are lumpy and the year-ago Q4 was a high base. As a micro-cap listed just three weeks before this filing, there is no analyst consensus or brokerage preview to measure against, and management provides no formal guidance on record. Alongside the results the board took the auditor's unmodified opinion on record and appointed ATCS & Associates as secretarial auditors (FY27-FY31); the quarter also saw the HR head resign and the insider trading window closed ahead of the print — routine items with no bearing on the numbers.
What the summary numbers don't show
FY26 EPS ₹10.74 (bonus-adjusted) vs ₹7.92 — 3.2 cr bonus shares issued Aug 2025
First result after IPO — ₹165.16 Cr raised at ₹138/share, listed BSE/NSE 1 Jul 2026; auditor unmodified opinion
What to watch
W1
Q1 FY27 (first reported post-IPO quarter): whether the Q4 softness — rev -28% YoY, margin down to 20.2% — reverses or persists
W2
Inventory build to ₹138.2 Cr (+₹31 Cr) that absorbed operating cash; watch inventory turns and gold-price impact on margins
W3
Deployment of ₹165 Cr IPO proceeds into capex/working capital to sustain the ~34% growth run-rate
Filing is AUDITED FY26 (year & Q4 ended 31 Mar 2026), NOT Q1 FY27 as our records expected — likely a calendar mistag; company IPO'd (₹165.16 Cr at ₹138/sh) and listed on BSE/NSE 1 Jul 2026, this is its first post-listing result. Source in Lakhs, converted to Cr. Reported figures are FULL-YEAR FY26 (primary for an audited annual result). Q4 FY26 quarter (a note-6 balancing figure) declined YoY: rev ₹43.23 Cr (-28%), PAT ₹8.74 Cr (-46%). Prior-period item only ₹0.01 Cr (immaterial); EPS is bonus-adjusted (3.2 cr bonus shares, Aug 2025). Unmodified auditor opinion (Keyur Shah & Co). No consolidated statement.
Informational and educational content only. Not investment advice.