SHANTIGOLDShanti Gold International Ltd.
Shanti Gold International Q2 FY27 Results: Consolidated Net Profit ₹29.56 Crore on Total Income of ₹752 Crore
- Earnings
- gold jewellery
Reviewed byRachit TripathiBlacklitt Research
Shanti Gold International (NSE: SHANTIGOLD) reported total income of ₹751.95 crore and net profit of ₹29.56 crore for the quarter ended 30 Sep 2026, on both consolidated and standalone bases, it said in a filing on 03 Nov 2026.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹751.95 crore, up 73.8% YoY and 4.7% QoQ
- Net profit and EPS: ₹29.56 crore, up 13.7% YoY and down 41.4% QoQ; basic EPS ₹3.99
- Finance costs: ₹8.48 crore, up 101.0% YoY and 49.3% QoQ
- Other income: ₹6.00 crore, including a net fair-valuation gain of ₹2.65 crore on investments
Standalone
The company on its own, without its subsidiaries
- Total income: ₹751.95 crore, up 73.8% YoY and 4.7% QoQ
- Net profit and EPS: ₹29.56 crore, up 13.7% YoY and down 41.4% QoQ; basic EPS ₹3.99
- Finance costs: ₹8.48 crore, up 101.0% YoY and 49.2% QoQ
- Other income: ₹6.00 crore, including a net fair-valuation gain of ₹2.65 crore on investments
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 751.95 | 432.75 | +73.8% | 718.06 | +4.7% | |
| Revenue from operations | 745.95 | 430.08 | +73.4% | 716.38 | +4.1% |
| Other income | 6.00 | 2.67 | +124.6% | 1.68 | +257.2% |
| 29.56 | 26.00 | +13.7% | 50.48 | -41.4% | |
| Profit before tax | 38.07 | 33.81 | +12.6% | 65.26 | -41.7% |
| Finance costs | 8.48 | 4.22 | +101.0% | 5.68 | +49.3% |
| Depreciation | 1.96 | 1.43 | +37.4% | 2.19 | -10.5% |
| Tax expense | 8.51 | 7.81 | +9.0% | 14.77 | -42.4% |
| Net profit margin | 3.93% | 6.01% | -2.08 pp | 7.03% | -3.10 pp |
| EPS, basic (₹) | 3.99 | 4.33 | -7.9% | 7.00 | -43.0% |
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 rose 73.8% YoY, but net profit rose only 13.7%, and profit before tax rose 12.6%. Revenue from operations of ₹745.95 crore makes up almost all of total income; other income of ₹6.00 crore is 0.8% of total income.
Finance costs of ₹8.48 crore are 1.1% of total income, up from ₹4.22 crore a year earlier. Tax expense of ₹8.51 crore is 22.4% of profit before tax of ₹38.07 crore, against ₹7.81 crore on ₹33.81 crore a year before.
Against the June 2026 quarter, profit before tax fell 41.7%, from ₹65.26 crore to ₹38.07 crore, while total income rose 4.7%. The notes do not say why profit before tax fell; the June quarter's tax expense of ₹14.77 crore was the higher of the two periods.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 751.95 | 432.75 | +73.8% | 718.06 | +4.7% | |
| Revenue from operations | 745.95 | 430.08 | +73.4% | 716.38 | +4.1% |
| Other income | 6.00 | 2.67 | +124.6% | 1.68 | +257.2% |
| 29.56 | 26.00 | +13.7% | 50.48 | -41.4% | |
| Profit before tax | 38.07 | 33.81 | +12.6% | 65.26 | -41.7% |
| Finance costs | 8.48 | 4.22 | +101.0% | 5.68 | +49.2% |
| Depreciation | 1.96 | 1.43 | +37.4% | 2.19 | -10.5% |
| Tax expense | 8.51 | 7.81 | +9.0% | 14.77 | -42.4% |
| Net profit margin | 3.93% | 6.01% | -2.08 pp | 7.03% | -3.10 pp |
| EPS, basic (₹) | 3.99 | 4.33 | -7.9% | 7.00 | -43.0% |
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.
The filing reports one subsidiary, Shanti Gold Jewellery Trading L.L.C S.O.C in Dubai, incorporated on 13 May 2026, and its results are not separately shown in the consolidated figures.
Net profit margin was 3.93%, against 6.01% a year earlier and 7.03% in the June quarter. The company says it changed its inventory valuation from FIFO to weighted average cost from 1 Apr 2024, and the comparative figures were restated.
Inference
The rights issue of 46,43,471 shares at ₹215 each, aggregating ₹99.84 crore, was allotted on 24 Aug 2026, and the company says net proceeds are for working capital and general corporate purposes. The filing does not say how much of the proceeds has been used so far.
The limited review by J. Kala & Associates gave an unmodified conclusion on both sets of results. One subsidiary's interim information was not reviewed by its auditor, and the auditor says it is not material to the group. The filing does not say what drove the rise in finance costs or the fall in profit before tax from the June quarter.
Filed with BSE on . Reference: Original filing (PDF)
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