Khazanchi Jewellers Limited reported an EBITDA of ₹393 million for the quarter ended June 30, 2026, marking an 86% increase from ₹211 million in the corresponding period of FY25. The EBITDA margin expanded to 6.72%, up from 5.22% year-on-year. Revenue from operations climbed 45% to ₹5,857.18 lakh (approximately ₹5.86 billion), while net profit rose 84% to ₹278.25 lakh, compared to ₹151.50 lakh in Q1FY25.

The Board of Directors approved the unaudited financial results on August 13, 2026. The statutory auditors, PSDY & Associates, issued a limited review report confirming that the financial statements comply with Ind AS 34 and SEBI LODR regulations.

Financial Performance

Revenue from operations stood at ₹5,857.18 lakh for Q1FY27, compared to ₹5,078.54 lakh in Q4FY26 and ₹4,037.45 lakh in Q1FY25. Total income, including other income of ₹6.41 lakh, reached ₹5,863.58 lakh.

Total expenses were recorded at ₹5,492.84 lakh. This includes purchases of stock-in-trade amounting to ₹6,021.97 lakh, partially offset by a decrease in inventories of ₹581.59 lakh. Employee benefits expense rose to ₹11.65 lakh from ₹8.43 lakh in the previous quarter. Finance costs decreased slightly to ₹23.26 lakh from ₹25.49 lakh.

Profit before tax was ₹370.75 lakh, up from ₹349.87 lakh in Q4FY26 and ₹202.03 lakh in Q1FY25. After accounting for total tax expenses of ₹92.49 lakh, the net profit before other comprehensive income stood at ₹278.25 lakh.

Balance Sheet Highlights

As of June 30, 2026, total assets increased to ₹5,256.43 lakh from ₹4,655.21 lakh at the end of March 2026. Current assets dominated the balance sheet, totaling ₹4,998.91 lakh, primarily driven by inventories which rose 14% quarter-on-quarter to ₹4,659.35 lakh.

Trade receivables increased to ₹297.64 lakh from ₹221.96 lakh. Cash and cash equivalents declined to ₹27.76 lakh from ₹35.13 lakh.

On the liabilities side, total borrowings remained stable at ₹1,113.81 lakh under current liabilities. Trade payables (creditors other than MSEs) more than doubled to ₹536.00 lakh from ₹273.54 lakh. Total equity rose to ₹3,471.82 lakh, supported by retained earnings within other equity.

What the Numbers Show

The expansion in EBITDA margin from 5.22% to 6.72% indicates improved operating leverage alongside the 45% revenue growth. Simultaneously, the surge in trade payables to ₹536.00 lakh, compared to ₹273.54 lakh in the previous quarter, coincides with the 14% increase in inventory levels. This suggests the company is stocking up ahead of peak demand periods, financing this build-up largely through supplier credit rather than immediate cash outflows or increased borrowings, which remained flat at ₹1,113.81 lakh.

Khazanchi Jewellers shareholders have approved the company’s migration from the SME Platform to the Main Board of both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), marking a significant step in its corporate evolution. The resolution was passed as a special resolution at the company’s 31st Annual General Meeting (AGM) held on August 10, 2026, via Video Conferencing/Other Audio Visual Means (VC/OAVM). Alongside the listing upgrade, shareholders also approved the adoption of audited financial statements for FY26, the declaration of a dividend, and the reappointment of key directors.

The voting process, scrutinized by A. K. Jain & Associates under Regulation 44 of the SEBI (LODR) Regulations, 2015, showed unanimous support for all items on the agenda. Remote e-voting remained open from August 6, 2026, at 9:00 AM IST to August 9, 2026, at 5:00 PM IST. Shareholders holding shares as on the cut-off date of August 3, 2026, were entitled to vote. The e-voting facility was provided by Central Depository Services (India) Limited (CDSL).

Voting Results

All five resolutions tabled at the AGM received 100% affirmative votes, with no votes cast against any item. The total valid votes received through remote e-voting prior to the AGM stood at 18,573,507 for each item. No votes were cast during the AGM itself.

Key Resolutions Approved

In addition to the listing migration, the Board sought approval for several routine matters. The audited financial statements for the financial year ended March 31, 2026, along with the reports of directors and auditors, were adopted by requisite majority. The company also declared a final dividend of ₹0.50 per equity share of ₹10 each, representing a 5% payout for FY26.

Two directors retired by rotation and offered themselves for reappointment. Rajesh Mehta (DIN: 07605326), Joint Managing Director, and Tarachand Mehta (DIN: 01234768), Managing Director, were both reappointed to their respective positions following unanimous shareholder approval.

What the Numbers Show

The unanimous 100% support across all resolutions indicates strong alignment between the management and the shareholder base. The complete absence of votes against any item suggests no dissent regarding the strategic move to the main board or the proposed dividend distribution. This clean bill of health provides regulatory clarity for the upcoming listing migration process.