SHANKESHShankesh Jewellers Ltd.
Shankesh Jewellers Q2 FY27 Results: Standalone Net Profit ₹25.52 Crore on Total Income of ₹557 Crore
- Earnings
- Gold jewellery
Reviewed byRachit TripathiBlacklitt Research
Shankesh Jewellers (NSE: SHANKESH) reported total income of ₹556.62 crore for the quarter ended 30 Sep 2026, and a net profit of ₹25.52 crore on a standalone basis, it said in a filing on 05 Nov 2026. The company reports no consolidated figures.
Key highlights
Standalone
The company on its own, without its subsidiaries
- Total income: ₹556.62 crore, up 50.2% YoY and 31.4% QoQ
- Net profit and EPS: ₹25.52 crore, up 14.1% YoY and down 41.0% QoQ; basic EPS ₹1.97
- Finance costs: ₹2.15 crore, down 15.5% YoY and 27.1% QoQ
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 556.62 | 370.51 | +50.2% | 423.61 | +31.4% | |
| Revenue from operations | 556.40 | 370.50 | +50.2% | 423.58 | +31.4% |
| Other income | 0.25 | 0.01 | n/a | 0.03 | +654.5% |
| 25.52 | 22.36 | +14.1% | 43.23 | -41.0% | |
| Profit before tax | 34.06 | 29.86 | +14.1% | 57.96 | -41.2% |
| Finance costs | 2.15 | 2.54 | -15.5% | 2.94 | -27.1% |
| Depreciation | 0.51 | 0.34 | +51.0% | 0.28 | +79.4% |
| Tax expense | 8.57 | 7.50 | +14.3% | 14.73 | -41.8% |
| Net profit margin | 4.58% | 6.03% | -1.45 pp | 10.21% | -5.62 pp |
| EPS, basic (₹) | 1.97 | 1.91 | +3.1% | 3.68 | -46.5% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Total income grew much faster than net profit. Revenue from operations rose 50.2% year on year to ₹556.40 crore, while profit before tax rose 14.1% to ₹34.06 crore, so the margin on total income fell to 4.58% from 6.03%.
Other income was ₹0.25 crore, or 0.7% of profit before tax of ₹34.06 crore, so it is a small part of the result. Tax expense of ₹8.57 crore is 25.2% of profit before tax.
Against the prior quarter, the picture reverses: total income rose 31.4% while net profit fell 41.0%, from ₹43.23 crore to ₹25.52 crore. Finance costs fell to ₹2.15 crore from ₹2.94 crore, a cost of 0.4% of total income. The filing does not give the reasons for the change in profit against the prior quarter.
The company is engaged in gold jewellery manufacturing and wholesale trading and operates in a single operating segment. Its shares were listed on NSE and BSE on 25 Aug 2026 after an initial public offering in the quarter, which comprised a fresh issue of 2,94,82,000 equity shares and an offer for sale of 1,00,00,000 shares at ₹93.00 each.
Net IPO proceeds of ₹2,741.83 million, shown as fully utilised as of 30 Sep 2026, were allocated to working capital requirement, a ₹1,580.00 million head, and two other heads of ₹380.00 million and ₹781.83 million. Blacklitt's data puts the market value at ₹1,100 crore at the 04 Nov 2026 close.
Inference
The filing does not say why trade receivables and inventories rose sharply in the quarter, or why finance costs moved as they did, and it gives no reason for the fall in net profit against the prior quarter.
The auditors issued an unmodified review conclusion on the standalone results; the figures for the quarter ended 30 Sep 2025 were derived by management and were not reviewed or audited by the auditors.
Filed with BSE on . Reference: Original filing (PDF)
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