Palm Jewels reported a net profit of ₹21.86 lakh for the quarter ended June 30, 2026, down from ₹25.33 lakh in the same period last year. The Ahmedabad-based jeweller saw revenue from operations rise by 11.3% year-on-year to ₹4,035.57 lakh, up from ₹3,625.25 lakh in Q1FY26.

The company’s Board of Directors approved the unaudited standalone financial results in a meeting held on August 12, 2026. The results were reviewed by the Audit Committee and subjected to a limited review by statutory auditors Bharat H. Shah & Co., who issued an unmodified review report.

Financial Performance

Revenue growth was accompanied by a slight contraction in profitability metrics. While total income increased to ₹4,036.44 lakh from ₹3,625.79 lakh in the previous year’s quarter, total expenses also rose to ₹4,005.85 lakh from ₹3,591.87 lakh.

The profit before tax fell to ₹30.60 lakh from ₹33.92 lakh in the corresponding quarter of FY26. Tax expense for the quarter stood at ₹8.74 lakh (current tax of ₹9.03 lakh less deferred tax assets of ₹0.29 lakh), compared to ₹8.59 lakh in Q1FY26.

What the Numbers Show

A divergence between revenue growth and profit expansion is evident in the Q1FY27 results. While revenue grew by over 11%, net profit declined by nearly 14%. This suggests that cost inflation or margin compression outpaced top-line gains. Purchases, which form the bulk of expenses, rose to ₹4,076.62 lakh from ₹3,284.49 lakh, indicating that input costs likely increased at a faster rate than selling prices or volumes.

Operational Details

The company operates solely in the jewellery business, with no separate reportable segments under Ind AS 108. There are no material individual markets outside India. Paid-up equity share capital remained unchanged at ₹1,004.10 lakh.

The trading window, closed since July 1, 2026, will remain closed for 48 hours following the declaration of these results, as per SEBI’s Prohibition of Insider Trading Regulations.

Palm Jewels has accepted the resignation of Abhijit Roy from his positions as Company Secretary and Compliance Officer, effective July 31, 2026. The Ahmedabad-based jewellery manufacturer disclosed the change in key managerial personnel to the Bombay Stock Exchange on August 1, 2026, noting that Roy is leaving to pursue better career opportunities. This transition marks a shift in the company’s compliance leadership structure.

The disclosure was made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Palm Jewels also referenced SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, which mandates detailed disclosures regarding changes in key managerial personnel. The intimation was signed by Rohit Dalpatbhai Shah, Managing Director of Palm Jewels Limited.

Roy submitted his resignation letter dated July 31, 2026, to the Board of Directors. In his letter, he expressed gratitude for the guidance and support received during his tenure, stating that the experience had been invaluable to his professional growth. His membership number with the Institute of Company Secretaries of India is A68723.

Resignation Details

The company confirmed that a copy of the resignation letter containing detailed reasons was enclosed with the exchange filing. No further details regarding a successor or interim arrangements were provided in the immediate disclosure.