Advit Jewels Q1 FY27 Results (NSE: RAMBHAJO)
Signal: Margin pressure
The read
The growth trajectory remains strong with Q1FY27 total income at ₹3,540.24 lakh, up 37.35% YoY, and PAT at ₹818.68 lakh, up 37.86%, but the operating inflection is less clean: EBITDA growth of 33.02% lagged revenue and EBITDA margin fell 108bps to 33.12%, while EPS growth lagged PAT by 5.60 percentage points.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹35.4 Cr | 37.35% | N/A |
| Net profit | ₹8.19 Cr | 37.86% | |
| EPS | ₹2.46 | 32.26% | |
| EBIT margin | 33.12% |
P&L walk
Standalone Q1FY27 total income increased to ₹3,540.24 lakh (+37.35% YoY), while EBITDA grew more slowly at ₹1,172.45 lakh (+33.02%), reducing EBITDA margin to 33.12% from approximately 34.20%; PAT rose to ₹818.68 lakh (+37.86%), but EPS increased only 32.26% to ₹2.46.
Key positives
- Total income reached ₹3,540.24 lakh, rising 37.35% YoY on management’s stated demand for premium handcrafted jewellery and a larger customer network.
- Net profit increased 37.86% YoY to ₹818.68 lakh, slightly faster than total-income growth of 37.35%.
- The integrated manufacturing platform has stated installed capacity of 400 kg of gold jewellery annually, supporting the company’s premium handcrafted and customised product offering.
- Management is pursuing new Kundan, Polki, Jadau and contemporary collections alongside calibrated retail expansion, including a planned Jaipur store.
Key concerns
- EBITDA rose 33.02% YoY to ₹1,172.45 lakh, 4.33 percentage points slower than total-income growth, resulting in a 108bps EBITDA-margin contraction to 33.12%.
- Diluted EPS grew 32.26% YoY to ₹2.46, trailing PAT growth of 37.86% by 5.60 percentage points and warranting monitoring of share-count dilution.
- The filing gives no quantified store rollout, international-market timetable or financial target, limiting the precision of the retail-expansion thesis.
Research and educational content only. Not investment advice.