Manoj Jewellers announced the resignation of its Chief Financial Officer, Mr. Mayank Girishbhai Garach, effective June 4, 2026. The resignation, attributed to health concerns, was accepted by the company, and Mr. Garach was relieved from his duties at the close of office hours on the same day. This change impacts the company's financial leadership structure immediately.

The disclosure was made to the BSE SME Platform in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company cited a specific SEBI Circular dated January 30, 2026, regarding the disclosure requirements for such senior management changes. The Managing Director, Mr. Manoj Kumar, signed the regulatory filing.

Mr. Garach formally submitted his resignation letter citing the need to attend to his father's ongoing medical issues. He stated that the requirement for personal attention and support towards his father's care made it impossible to continue discharging his professional responsibilities with the necessary commitment. He expressed gratitude to the Board and management for the opportunities provided during his tenure.

The company confirmed that Mr. Garach will extend his full cooperation to ensure a smooth handover of his duties and responsibilities. The resignation is effective immediately, and all necessary formalities related to his relieving are being processed.

Manoj Jewellers Limited reported its highest-ever annual performance for the financial year ended March 31, 2026. The company delivered robust growth, with Total Income rising 91.5% year-on-year to ₹11,419.9 lakhs and Profit After Tax (PAT) increasing 89.4% to ₹902.4 lakhs. This performance was supported by a rapid scale-up of the wholesale business and the launch of two new product lines during the year. The board approved the audited standalone financial results at a meeting held on May 15, 2026, with the statutory auditors issuing an unmodified opinion. On May 18, 2026, the company filed an investor presentation under Regulation 30 of SEBI (LODR) Regulations, 2015, highlighting business performance and H2 FY26 results.

Strong Revenue and Profit Growth in FY26

The company's financial results for FY26 reflect significant earnings growth across key metrics. Revenue from operations nearly doubled to ₹11,416.1 lakhs, while EBITDA grew 63.3% year-on-year to ₹1,365.4 lakhs. The following table summarises the key financial performance metrics for FY26 versus FY25:

The company's multi-year financial trajectory further underscores the pace of growth. Operating revenue has grown from ₹1,363.0 lakhs in FY23 to ₹11,416.1 lakhs in FY26, while PAT expanded from ₹62.36 lakhs to ₹902.4 lakhs over the same period.

H2 FY26 Performance

For the second half of FY26, the company reported Total Revenue of ₹4,505.7 lakhs, up 29.3% year-on-year. EBITDA for the period stood at ₹547.9 lakhs, up 28.8% YoY, with the margin holding steady at 12.17%. PAT for H2 FY26 increased 34.5% YoY to ₹336.9 lakhs, with PAT margin improving to 7.48% from 7.19% in H2 FY25. Financial costs declined 18.24% to ₹78.93 lakhs, while depreciation fell 11.75% to ₹9.31 lakhs during the period.

Revenue Mix and Business Segments

The company operates across three segments — Wholesale (B2B), Retail, and Online — with a pronounced shift towards B2B over recent years. B2B revenue grew from ₹27.31 crores in 2024 to ₹99.41 crores in 2026, while retail revenue remained relatively stable at ₹14.75 crores. As a result, B2B's share of total revenue from operations expanded from 62.99% in 2024 to 87.08% in 2026.

Operational and Business Highlights

During FY26, the company launched the "Thanga Kovil" lightweight temple jewellery collection and a dedicated traditional yellow gold jewellery line to cater to the South Indian market. It participated in four major jewellery exhibitions across India, strengthening brand visibility and expanding its wholesale network. The company added 7 new wholesale clients, driving B2B revenue growth of over 111% YoY in Q2 FY26. The product portfolio spans hallmarked 22K/18K gold ornaments, bridal and designer diamond pieces, gold-plated silver jewellery, and Italian silver jewellery. The gold-plated silver jewellery category delivers margins of over 70%, targeting value-conscious customers seeking premium designs. Manoj Jewellers operates two showrooms — a 2,000 sq. ft. flagship in Sowcarpet and a 1,500 sq. ft. boutique in Kilpauk, Chennai — supported by a team of 25+ professionals.

Managing Director Manoj Kumar stated: "FY26 has been a defining year for Manoj Jewellers Limited, our first full year as a listed company. We nearly doubled our Total Income to ₹114.2 Cr and grew PAT by 89.4% to ₹9.02 Cr — the highest in the Company's history. Looking ahead to FY27, we are focused on three priorities: commissioning our own bangle manufacturing unit to bring a key product category in-house, launching a new chains product line and scaling the Thanga Kovil collection, and expanding our old-gold exchange programme in line with the Government of India's stated policy direction."

Balance Sheet and Cash Flow

Total assets and liabilities as of March 31, 2026, stood at ₹6,056.8 lakhs, up from ₹3,525.2 lakhs in the previous year. Net Worth increased significantly to ₹3,886.2 lakhs from ₹1,453.1 lakhs, supported by proceeds from the IPO. Cash and bank balance rose to ₹197.1 lakhs from ₹22.5 lakhs. Inventories increased to ₹4,905.9 lakhs from ₹2,930.7 lakhs, reflecting the scale-up in operations. Long-term borrowings declined to ₹905.4 lakhs from ₹1,246.0 lakhs.

Source: None/Company/INE0MV001018/91eadb70-e21e-4f3c-b3f7-40bfb18d34b8.pdf