Grover Jewells FY26 net profit rises to ₹2,116.88 lakh

Grover Jewells reported a net profit of ₹2,116.88 lakh for the financial year ended March 31, 2026, a significant increase from ₹751.60 lakh in the previous year. Revenue from operations for the period rose to ₹82,420.98 lakh, compared to ₹46,080.29 lakh in FY25. The company's earnings per share (EPS) for the year stood at ₹18.92, down from ₹28.20 in the prior year, primarily due to the increase in equity share capital following its Initial Public Offering (IPO).

For the half year ended March 31, 2026, the company recorded a net profit of ₹1,704.19 lakh on revenue from operations of ₹53,565.13 lakh. The statutory auditors, VCA & Associates, issued an unmodified opinion on the financial results. The company confirmed that it does not have any reportable segments as per Accounting Standard 17.

Financial Performance

The company's total assets grew to ₹10,324.63 lakh as of March 31, 2026, up from ₹2,984.50 lakh in the previous year. Equity and liabilities increased to ₹10,324.63 lakh, driven by a rise in equity share capital to ₹1,450.72 lakh and other equity to ₹5,496.38 lakh. Inventories constituted a major portion of current assets, valued at ₹6,636.39 lakh.

Metric	FY26 (Amount in Lakhs)	FY25 (Amount in Lakhs)
Revenue from Operations	82,420.98	46,080.29
Net Profit for the Period	2,116.88	751.60
Total Expenses	79,909.13	45,162.22
Equity Share Capital	1,450.72	266.56

IPO Fund Utilisation

During the financial year, Grover Jewells completed its IPO, issuing 38,44,800 equity shares with a face value of ₹10 each at a premium of ₹78 per share, aggregating to ₹33,83,42,400. The company has fully utilized the proceeds for the objects outlined in the offer document.

Object	Original Allocation (₹)	Funds Utilized (₹)
Working Capital Requirement	25,34,08,160.00	27,11,65,908.00
Issue Related Expenses	3,99,34,240.00	2,21,76,492.00
General Corporate Purpose	4,50,00,000.00	4,50,00,000.00
Total	33,83,42,400.00	33,83,42,400.00

The working capital requirement was met with excess funds amounting to ₹1,77,57,748, which were utilized from the issue-related expenses allocation. Consequently, the issue-related expenses were under-utilized by the same amount, which was set off against the working capital requirement.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-4.99%	-13.56%	+55.67%	+76.44%	+76.44%	+76.44%

Grover Jewells Limited has secured a Working Capital Term Loan of Rs 11.5 million from ICICI Bank Limited under the Emergency Credit Line Guarantee Scheme (ECLGS) to bolster its financial liquidity. The approval was granted during its board meeting held on June 24, 2026. This strategic financial move aims to support the company's working capital requirements through a government-backed credit facility.

The Board of Directors convened at 11:30 a.m. and concluded the proceedings at 12:30 p.m. on June 24, 2026. During this session, the board formally approved the availing of the loan facility. The decision aligns with the company's objective to utilize available financial schemes for operational stability.

In addition to the financial approval, the board also considered and approved the minutes of the Audit Committee meeting held on June 23, 2026. This procedural step ensures that the committee's observations and recommendations are formally recorded and integrated into the company's governance framework.

Key Approvals

The meeting resulted in two primary resolutions:

Working Capital Term Loan: Availment of Rs 11.5 million from ICICI Bank Limited under ECLGS.
Audit Committee: Approval of minutes from the meeting held on June 23, 2026.

The disclosure was submitted to the National Stock Exchange of India Limited in compliance with Regulation 30 read with Schedule-III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was confirmed by Deepak Kumar Grover, Managing Director of grover jewells .