EBITDA rises 59.79% to ₹26.69 Cr, powered by robust demand for lightweight 22K and 18K gold jewellery and an expanding B2B partner network
Kolkata (West Bengal) [India], November 13: Pushpa Jewellers Limited (NSE: PUSHPA | ISIN: INE154801018), a leading B2B gold jewellery manufacturing company known for its lightweight 22K and 18K traditional and contemporary designs, has announced its unaudited standalone financial results for the half year ended 30 September 2026 (H1 FY27).
Key Financial Highlights
- Total Income: ₹314.16 Cr vs ₹171.82 Cr; Y-o-Y: 82.85%
- EBITDA: ₹26.69 Cr vs ₹16.70 Cr; Y-o-Y: 59.79%
- EBITDA Margin: 8.50% vs 9.72%; Y-o-Y: (123 bps)
- PAT: ₹20.21 Cr vs ₹11.03 Cr; Y-o-Y: 83.27%
- PAT Margin: 6.43% vs 6.42%; Y-o-Y: +1 bps
Operational Highlights
- Expanded the wholesale distribution network with the commencement of operations at a new B2B Trade Fulfilment Centre in Mumbai on 4 August 2026, to better serve regional retail and corporate clients.
- Continued to strengthen its portfolio of lightweight 22K and 18K traditional and contemporary gold jewellery designs during the half year.
- Built up inventory to ₹119.57 Cr as of 30 September 2026 (₹91.06 Cr as of 31 March 2026) to support anticipated demand in the upcoming festive and wedding season.
- Board authorised a committee of directors to identify and acquire commercial showroom premises for an aggregate consideration of up to ₹100 Cr, supporting the Company’s next phase of expansion.
| Commenting on the performance, Mr. Anupam Tibrewal, Chairman & Managing Director, said: “We are delighted to deliver a landmark first half for Pushpa Jewellers. Total Income grew 83% year-on-year to ₹314 crore; EBITDA rose 60% to ₹27 crore and Net Profit climbed 83% to ₹20 crore. This performance reflects the growing preference of retail jewellers for our lightweight, BIS-hallmarked 22K and 18K gold jewellery, which enables them to offer attractive designs at accessible price points in a high gold-price environment. With a strengthened post-IPO balance sheet and deepening relationships with wholesale and retail partners across India, we are well positioned to capture the significant opportunity arising from the formalisation of the jewellery industry and the shift towards organised, trusted B2B suppliers. We are confident of carrying this momentum forward and creating long-term value for all our stakeholders.” |
| Commenting on the performance, Mr. Mridul Tibrewal, Promoter, Whole-Time Director & CEO, said: “H1 FY27 marks a strong step forward in scaling our B2B platform. The launch of our B2B Trade Fulfilment Centre in Mumbai on 4 August 2026 expands our wholesale reach into one of India’s key jewellery trading hubs and brings us closer to our regional retail and corporate clients. We have strategically built-up inventory to meet the strong demand we foresee in the festive and wedding season ahead, while our CAD-CAM-led design capabilities and Kolkata’s skilled artisan network continue to give us speed and flexibility in launching new collections. Going forward, we will focus on widening our distribution footprint, introducing fresh lightweight designs and driving operational efficiencies to deliver sustained, profitable growth.” |
About Pushpa Jewellers Limited
Pushpa Jewellers Limited (“Pushpa Jewellers” or “the Company”), founded in 2009 in Kolkata, India, specialises in the design and manufacture of lightweight gold jewellery, combining traditional Indian craftsmanship with contemporary aesthetics. Its product range spans traditional and modern designs, including pieces with detailing in stones such as emerald, jade, pearl and meena. The Company supplies its jewellery on a B2B basis to wholesalers and retailers across India and has also catered to international markets.
The Company is supported by an experienced team with expertise in jewellery design, manufacturing and quality assurance, focused on creating refined, high-quality designs at competitive price points. Building on this expertise, Pushpa Jewellers focuses on product quality, design innovation and efficient manufacturing processes to deliver reliable offerings to its wholesale and retail partners.
In FY26, the Company reported Standalone total income of ₹419.55 Cr, EBITDA of ₹39.39 Cr and Net Profit of ₹25.89 Cr.
Disclaimer
Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
