| Annual Financials | Mar 2024 | Mar 2025 | Mar 2026 |
| Revenue | 16788.05 | 16897.32 | 25023.93 |
| Expenses | 16316.07 | 16404.58 | 23679.54 |
| Other Income | 12.57 | 10.56 | 15.88 |
| Total Revenue | 16800.62 | 16907.88 | 25039.80 |
| Profit Before Tax | 484.55 | 503.31 | 1360.27 |
| Net Profit | 359.83 | 364.73 | 1009.82 |
Lalithaa Jewellery Mart
Lalithaa Jewellery Mart IPO
₹14,060
0.3 xOver-subscribedBidding Dates 17 Aug, 26 -19 Aug, 26
Min Investment ₹14,060
Lot Size74
Price Range ₹190 – ₹201
Issue Size ₹1,700.63 Cr.
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IPO Subscription Details
Retail Subscription Details
0.45 x
Non-Institutional Buyers (sHNI)
0.38 x
Non-Institutional Buyers (bHNI)
0.28 x
Qualified Institutional Buyers (QIB)
0 x
Employees
1.13 x
Total0.3 x
0.3 x IPO Timeline
IPO Offer Start
17 Aug,26
IPO Offer Ends
19 Aug,26
Allotment Finalisation
20 Aug,26
Refund Initiation
21 Aug,26
Listing of Shares
24 Aug,26
IPO Analysis
Strengths
The company reported operating revenue CAGR of 22.09% between Fiscals 2024 and 2026, with 45 out of 61 stores located in Tier II and Tier III cities contributing 60.25% of revenue in Fiscal 2026.
The company serves mass market customers with quality, affordable jewellery through Manufacturing Facilities with 816 exclusive Karigars and 296 non-exclusive Karigars, enabling competitive pricing and quality control.
The company operates 45 stores in Tier II and Tier III cities generating 60.25% of revenue in Fiscal 2026, with strong brand recognition and customer loyalty in these high-growth markets.
Risks
The company's revenues are significantly dependent on sale of gold jewellery, which accounted for 92.33%, 94.58% and 93.96% of revenue from operations for Fiscals 2026, 2025 and 2024, respectively. Any factors adversely affecting the procurement of gold or sales of gold jewellery may negatively impact the company's business, financial condition, results of operations and prospects.
The company experienced negative cash flows from operating activities of ₹3,977.62 million and ₹180.02 million in Fiscal 2026 and Fiscal 2024 respectively, due to lower customer enrolment towards jewellery schemes and increased settlement of trade payables. Negative cash flows may adversely affect the company's financial condition, results of operations and prospects.
The company had total outstanding borrowings of ₹12,381.00 million as of June 30, 2026. The financing agreements contain covenants that limit the company's flexibility in operating its business, and inability to meet obligations could adversely affect business, credit rating, results of operations and financial condition.
Objectives
The company proposes to establish new stores across various states in southern India through capital expenditure for fit-outs including furniture, fixtures, equipment, IT hardware and software, and expenditure towards inventory costs for setting up of new stores.
The company proposes to deploy the balance net proceeds towards strategic initiatives, funding growth opportunities, strengthening marketing capabilities, meeting ongoing general corporate exigencies and contingencies, and other business requirements as approved by the Board.
Yearly Financial Results
Balance Sheet
| Balance Sheet | Mar 2024 | Mar 2025 | Mar 2026 |
| Total Assets | 5182.26 | 6929.68 | 10945.14 |
| Current Assets | 4436.65 | 6116.20 | 10139.46 |
| Fixed Assets | 745.61 | 813.49 | 805.69 |
| Total Equity & Liabilities | 5182.26 | 6929.68 | 10945.14 |
| Total Liabilities | 3617.89 | 5004.30 | 8015.42 |
| Current Liabilities | 3190.32 | 4556.07 | 7578.41 |
| Non Current Liabilities | 427.57 | 448.23 | 437.00 |
| Total Equity | 1564.37 | 1925.38 | 2929.73 |
Cash Flow
| Cash Flow | Mar 2024 | Mar 2025 | Mar 2026 |
| Net Cash Flow | 4.64 | 29.53 | -36.21 |
| Investing Activities | -112.34 | -215.07 | -66.18 |
| Operating Activities | -18.00 | 288.73 | -397.76 |
| Financing Activities | 134.97 | -44.13 | 427.73 |
About Lalithaa Jewellery Mart
Lalithaa Jewellery is a jewellery retailer operating under the brand name 'Lalithaa', offering a diverse range of gold jewellery, silver jewellery, and diamond jewellery across styles, designed to cater to regional preferences of the southern Indian jewellery markets. The company operates 61 stores in 51 cities across Tamil Nadu, Andhra...more
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Managing DirectorM. Kiran Kumar Jain
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