AJC Jewel Manufacturers Ltd. reported a consolidated net profit of ₹7.83 crore for the financial year ended March 31, 2026, a surge of 173.62% from ₹2.86 crore in the previous year. Revenue from operations rose 32.17% to ₹291.39 crore, compared to ₹220.46 crore in FY25. The company’s EBITDA grew 148.85% to ₹14.01 crore, with EBITDA margins improving by 225 basis points to 4.81%.

The board approved the audited financial results for both standalone and consolidated financial statements. On a standalone basis, the company reported a net profit of ₹802.37 lakh, with revenue from operations at ₹29,174.87 lakh. The basic earnings per share (EPS) for the year increased to ₹13.82 from ₹6.44 in the prior year.

Consolidated Financial Performance

Operational Highlights

The company strengthened its customer network by onboarding new clients, including leading jewellery retailers. Its Sharjah-based facility, aimed at serving GCC and US markets, is undergoing integration, with revenue contribution not yet included in FY26 results due to geopolitical delays. Additionally, AJC Jewel accelerated its silver jewellery vertical, Esthara Jewels, operating on a Direct-to-Consumer (D2C) model through stores and digital channels.

Mr. Ashraf P, Chairman & Managing Director, attributed the profitability growth to operational efficiencies, better product mix, and scale benefits. The company reported a Return on Equity (ROE) of 30.73% and targets a consolidated revenue CAGR of approximately 50% over the next three years.

AJC Jewel Manufacturers Limited has officially entered the premium silver jewelry retail market with the launch of Esthara Jewels, a new retail vertical that combines the company's manufacturing expertise with direct consumer engagement. The brand's flagship store recently opened in Thrissur, Kerala, accompanied by a comprehensive Direct-to-Consumer e-commerce platform.

Strategic Market Entry

As a subsidiary of AJC Jewel Manufacturers Limited, Esthara Jewels represents a significant strategic shift from the company's traditional B2B gold manufacturing operations toward organized retail. The brand specifically targets Gen-Z consumers and modern professionals seeking premium jewelry designs at accessible price points.

Product Portfolio and Craftsmanship

The debut collection showcases 925 Sterling Silver jewelry enhanced with 24K Gold plating, featuring intricate enamel work and high-quality Cubic Zirconia stones. The product line is organized around "The Regal Mind" design philosophy, offering three distinct series:

The Peacock Series pays tribute to Indian heritage with designs including the Majestic Peacock Chandelier Earrings and Regal Peacock Filigree Bangle, both featuring vibrant enamel work and precision-set CZ stones.

The Signature Series offers modern classics such as the Two-Tone Diamond Eternity Bangle and Exquisite Peacock Statement Ring, designed for both daily wear and special occasions.

Traditional Elegance collection includes handcrafted necklaces with floral motifs and 24K gold finishes that replicate the aesthetic appeal of traditional temple jewelry.

Comprehensive Customer Policies

Esthara Jewels has introduced extensive post-purchase policies designed to build customer confidence in the silver jewelry segment:

These policies address common concerns about silver jewelry maintenance and value retention, positioning the brand as a premium offering in the market.

Company Evolution and Vision 2028

Founded in 1999 as a retail startup in Malappuram by Mr. Kunhimohamed Perinkadakkat, AJC Jewel has transformed into a technology-enabled manufacturing platform. The Esthara Jewels launch represents a pivotal milestone in the company's Vision 2028 roadmap, which targets revenue of ₹1,200 crores.

The management emphasized that Esthara Jewels leverages the company's manufacturing excellence and state-of-the-art facility in Malappuram to deliver premium jewelry experiences previously associated with gold purchases.

Expansion Plans

The company has outlined expansion plans for Esthara Jewels across South India, with upcoming stores planned for major hubs in Tamil Nadu and Karnataka. This geographic expansion strategy aims to establish the brand's presence in key jewelry markets throughout the region.

Customers can experience the Esthara Jewels collection through the flagship store in Thrissur or via the brand's e-commerce platform at www.estharajewels.com .