Advit Jewels promoter Abhishek Gilara will acquire a 16.979% stake in the company through an inter-se transfer of shares by way of gift from his immediate relative, Vipul Gilara.

The transaction involves 77,78,430 equity shares. The proposed acquisition is expected to be completed on or after September 10, 2026, as disclosed in the intimation filed with stock exchanges on September 4, 2026.

Transaction Details

The transfer falls under Regulation 10(1)(a) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. As the transfer is by way of gift, no consideration price was specified, and volume-weighted average market price calculations were marked as not applicable.

Shareholding Changes

Following the transfer, Abhishek Gilara’s holding will increase from zero shares to 77,78,430 shares, representing 16.979% of the total share capital. Conversely, Vipul Gilara’s stake will decrease from 34.38% (1,57,48,920 shares) to 17.40% (79,70,490 shares).

Both parties declared compliance with applicable disclosure requirements under Chapter V of the Takeover Regulations, 2011. The acquirer confirmed that all conditions for exemption under Regulation 10(1)(a) have been duly met.

Advit Jewels reported a 33.7% year-on-year increase in revenue from operations to ₹1,670.2 crore for FY26, driven by higher business volumes and an expanding customer base. Net profit after tax rose 35.6% to ₹343.9 crore, reflecting improved operational scale and disciplined capital deployment.

The Jaipur-based manufacturer of handcrafted fine jewellery posted an EBITDA of ₹492.4 crore, up from ₹371.5 crore in the previous fiscal year. The company's debt-equity ratio improved significantly to 0.77 from 1.29, aided by retained earnings and changes in capital structure.

Financial Performance

Advit Jewels saw robust growth across key financial metrics during the financial year ended March 31, 2026. Revenue from operations stood at ₹1,670.16 crore compared to ₹1,249.37 crore in FY25. Profit before tax (PBT) reached ₹416.3 crore, an increase from ₹307.0 crore in the prior year.

Operating cash flows turned positive during the period, signaling stronger liquidity management. The company maintained a healthy current ratio of 2.21, up from 1.76 in FY25, indicating improved short-term solvency.

Strategic Milestones

FY26 marked a pivotal transition for Advit Jewels as it moved from a closely held entity to a listed company. The equity shares were listed on the BSE and NSE on July 1, 2026, following a successful Initial Public Offering (IPO). The IPO comprised a fresh issue of 11,968,000 equity shares at ₹138 per share, raising approximately ₹1,651.6 crore.

Additionally, the Board allotted 1,832,000 equity shares via private placement at ₹125 per share, aggregating to ₹229.0 crore. These capital-raising activities supported the company's growth trajectory and expansion plans.

What the Numbers Show

A notable divergence exists between the company's inventory buildup and receivables management. While inventories surged by nearly 29% to ₹1,382.0 crore—reflecting increased stock holding to meet demand—the trade receivables turnover ratio improved by 25.7% to 14.05 times. This suggests that despite higher inventory levels, the company accelerated collections relative to sales growth, maintaining steady receivable days while scaling operations.