Advit Jewels Q4 FY26 Results (NSE: RAMBHAJO)
Signal: Revenue declined
The read
Q4FY26 revenue fell 27.8% YoY and PAT fell 45.9% as gross margin contracted 326bps on higher raw material cost share. However, annual PAT grew 35.6% despite flat revenue, driven by improved operational efficiency and lower finance costs; cash flow from operations remained positive. Sequential improvement in gross and EBITDA margins offers some comfort.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹43.23 Cr | -27.83% | -14.12% |
| EBIT | ₹12.09 Cr | -43.40% | |
| Net profit | ₹8.74 Cr | -45.93% | |
| EPS | ₹2.79 | -44.64% | |
| EBIT margin | 27.96% |
P&L walk
Q4FY26 revenue and profit declined sharply YoY due to lower sales and higher raw material cost share; annual profit improved despite revenue dip, aided by lower other expenses and finance costs.
Key positives
- Annual PAT up 35.6% YoY to ₹3,438.79 lakh
- Sequential improvement in gross margin (+183bps QoQ) and EBITDA margin (+118bps QoQ)
- Net debt reduced by ₹141 lakh; positive operating cash flow of ₹1,333 lakh
Key concerns
- Q4 revenue declined 27.8% YoY, the steepest quarterly drop
- Gross margin contracted 326bps YoY due to higher raw material cost (64.65% of revenue vs 61.38%)
- Depreciation jumped 174% YoY, indicating higher fixed cost base
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