Motisons Jewellers has appointed M/s. N.K. Aswani & Co., Chartered Accountants, as its statutory auditor for a five-year term commencing from FY27. The Board of Directors also approved the re-appointment of three independent directors during its meeting on September 1, 2026.

The appointment of N.K. Aswani & Co. follows the conclusion of the tenure of the previous statutory auditor, M/s. Keyur Shah & Co., at the ensuing 15th Annual General Meeting (AGM). The new firm, a peer-reviewed proprietorship, will serve until the conclusion of the 20th AGM, subject to shareholder approval.

Director Re-appointments

The Board re-appointed three Non-Executive Independent Directors for second terms, effective from May 2027 and September 2027 respectively. These appointments require approval via Special Resolution at the upcoming AGM.

Mr. Sushil Kumar Gangwal brings nearly 38 years of experience in finance, having retired from Rajasthan Finance Corporation. Mr. Sunil Chordia offers expertise in strategic planning and restructuring operations. Mr. Vikas Kaler is a law graduate with behavioral skills relevant to corporate governance.

AGM Details

Motisons Jewellers fixed the date for its 15th AGM on September 28, 2026, to be held via Video Conferencing or Other Audio Visual Means. The Register of Members and Share Transfer Books will remain closed from September 22, 2026, to September 28, 2026, inclusive.

Motisons Jewellers reported robust financial performance for the first quarter of FY27 (ended June 30, 2026), with earnings before interest, tax, depreciation, and amortisation (EBITDA) rising 28.3% year-on-year to ₹163 million (₹1630 lakh). The EBITDA margin expanded to 15.22% from 14.7% in the corresponding previous quarter. Net profit after tax grew 37.7% to ₹1,104.8 lakh (₹110.5 crore), while revenue from operations climbed 23.3% to ₹10,732.6 lakh (₹1.1 billion). The unaudited standalone financial results were reviewed by statutory auditors Keyur Shah & Co. and approved by the Board of Directors on August 12, 2026.

The company’s profitability expanded significantly across metrics. Profit before tax increased from ₹1,078.4 lakh in Q1FY26 to ₹1,483.4 lakh in Q1FY27. This growth was underpinned by a sharp rise in revenue, which outpaced the increase in total expenses. Finance costs declined to ₹108.4 lakh from ₹152.4 lakh in the corresponding previous quarter, indicating improved debt management or lower interest burdens.

Financial Highlights

Operational Efficiency

A key driver of the profit expansion was the significant reduction in inventory costs. The change in inventories of finished goods, work-in-progress, and stock-in-trade stood at (₹9,565.4 lakh) for Q1FY27, compared to an increase of ₹234.2 lakh in Q1FY26. This indicates that the company sold off existing stock rather than accumulating it, directly boosting gross margins despite a higher purchase of stock-in-trade (₹16,649.4 lakh vs ₹6,029.0 lakh YoY).

Other income remained negligible at ₹1.1 lakh, ensuring that the profit growth was primarily operational rather than driven by non-recurring gains. Employee benefit expenses rose moderately to ₹274.2 lakh from ₹239.1 lakh, aligning with the revenue growth trajectory.

What the Numbers Show

The divergence between the surge in stock purchases and the decline in inventory levels highlights a shift in working capital dynamics. While Motisons Jewellers increased its procurement spend by over 176% year-on-year (from ₹6,029.0 lakh to ₹16,649.4 lakh), the negative inventory change suggests rapid turnover of existing stock. This efficiency allowed the company to convert higher operational activity into bottom-line profits without proportionate increases in employee or finance costs. The expansion in EBITDA margin to 15.22% from 14.7% further underscores improved operational leverage amidst rising sales volumes.

Capital Raise

During the quarter, Motisons Jewellers completed a Qualified Institutional Placement (QIP), issuing 135.7 million equity shares at ₹11.05 per share. The issue raised gross proceeds of ₹15,000.0 lakh. Net proceeds after issue expenses amounted to ₹13,936.8 lakh. The company utilized ₹12,936.8 lakh towards funding working capital requirements, leaving an unutilized amount of ₹63.2 lakh for this purpose. The remaining proceeds are allocated for general corporate purposes.

The paid-up equity share capital increased to ₹11,375.1 lakh from ₹9,844.6 lakh in the corresponding period last year, reflecting the impact of the new issuance. Basic earnings per share rose to ₹0.11 from ₹0.08 in Q1FY26.