Manoj Vaibhav FY26 Net Profit Rises 14.5% to ₹114.98 Crore
Manoj Vaibhav Gems 'N' Jewellers Limited reported a 14.5% increase in net profit to ₹114.98 crore for FY26, with revenue rising to ₹2,744.03 crore. For Q4 FY26, net profit stood at ₹28.16 crore, though EBITDA margins contracted to 5%. The Board approved the audited results and re-appointed M/s. P.A. Naidu & Associates as Internal Auditor.
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Manoj Vaibhav Gems 'N' Jewellers Limited has reported its audited financial results for the fourth quarter and financial year ended March 31, 2026. The company's net profit for the full year rose to ₹114.98 crore, marking an increase from ₹100.43 crore in the previous fiscal year. Revenue from operations for FY26 stood at ₹2,744.03 crore, compared to ₹2,384.02 crore in FY25.
Financial Performance for FY26
The company recorded a total income of ₹2,759.22 crore for the year ended March 31, 2026. Total expenses for the period amounted to ₹2,603.86 crore. Profit before tax for the year was reported at ₹153.92 crore, while the profit for the year after tax was ₹114.98 crore. The basic and diluted earnings per share for the year were ₹23.54.
Quarterly Results for Q4 FY26
For the quarter ended March 31, 2026, the company reported a net profit of ₹28.16 crore, a slight increase from ₹26.75 crore in the corresponding quarter of the previous year. Revenue from operations for the quarter stood at ₹754.47 crore, up from ₹705.10 crore in Q4 FY25. Total income for the quarter was ₹764.93 crore, with total expenses at ₹727.47 crore. However, Q4 EBITDA declined to 380M rupees from 456M rupees in the year-ago period, with the EBITDA margin contracting to 5% from 6.5% year-on-year.
The table below summarises the key financial metrics across the reported periods:
| Particulars: | Q4 FY26 | Q4 FY25 | FY26 | FY25 |
|---|---|---|---|---|
| Revenue from Operations (₹ Crore): | 754.47 | 705.10 | 2,744.03 | 2,384.02 |
| Total Income (₹ Crore): | 764.93 | 707.49 | 2,759.22 | 2,397.46 |
| Total Expenses (₹ Crore): | 727.47 | 671.31 | 2,603.86 | 2,267.79 |
| Net Profit (₹ Crore): | 28.16 | 26.75 | 114.98 | 100.43 |
| EBITDA (Rupees): | 380M | 456M | — | — |
| EBITDA Margin (%): | 5% | 6.5% | — | — |
Board Decisions and Auditor Appointment
The Board of Directors at its meeting held on May 22, 2026, approved the audited financial results. Additionally, based on the recommendations of the Audit Committee, the Board approved the re-appointment of M/s. P.A. Naidu & Associates, Chartered Accountants, as the Internal Auditor of the company for the financial year 2026-27. The statutory auditors issued an unmodified opinion on the financial results.
What strategic initiatives is Manoj Vaibhav Gems 'N' Jewellers planning to sustain revenue growth momentum in FY27 amid rising gold prices and competitive pressures?
How does the company plan to address the Q4 FY26 EBITDA margin contraction from 6.5% to 5%, and what cost optimization measures are being considered?
Will the company pursue store expansion or geographic diversification in FY27 to capitalize on India's growing organized jewellery retail market?
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