Radhika Jeweltech reported a 24.41% year-on-year increase in net profit for the financial year ended March 31, 2026, reaching ₹7,479.01 lakh. The growth was driven by improved margins on gold jewellery sales and sustained upward movement in gold prices.

Revenue from operations rose by 8.74% to ₹63,913.97 lakh, up from ₹58,778.71 lakh in the previous fiscal year. Profit before tax expanded by 19.27% to ₹10,055.64 lakh. Basic and diluted earnings per share increased from ₹5.09 to ₹6.34.

Financial Performance

The company's profitability outpaced revenue growth, reflecting operational efficiency despite a challenging environment characterized by rising metal costs. Total income stood at ₹64,008.29 lakh, including other income of ₹94.32 lakh.

Balance Sheet and Working Capital

Total assets expanded by 27.78% to ₹48,024.09 lakh, primarily due to a significant increase in inventory. Inventory levels rose by 29.46% to ₹45,981.80 lakh from ₹35,518.75 lakh, reflecting higher carrying values associated with rising gold prices rather than just volume accumulation.

Total equity strengthened by 23.33% to ₹39,792.95 lakh, supported by retained earnings. Current borrowings increased to ₹4,999.11 lakh from ₹3,359.43 lakh, partly funded by extended supplier credit terms as trade payables rose to ₹1,548.43 lakh.

What the Numbers Show

Inventory now constitutes approximately 95.7% of total current assets (₹45,981.80 lakh against ₹46,935.11 lakh). This high concentration underscores the capital-intensive nature of the jewellery business and highlights the company's exposure to gold price volatility. The surge in inventory value outpaced revenue growth, indicating that working capital requirements are expanding faster than top-line sales.

Operational Updates

The company continued investing in retail infrastructure, reopening its renovated Palace Road showroom in October 2025. Work on reworking the Diamond, Polki, and bridal jewellery section at Kalawad Road is targeted for completion ahead of the festive season. Radhika Jeweltech was featured in Forbes Asia's 'Best Under a Billion' list for the second consecutive year.

Radhika Jeweltech has scheduled its 10th Annual General Meeting for September 30, 2026, to seek shareholder approval for key management reappointments and the regularization of independent directors.

The meeting will be conducted through Video Conferencing or other Audio-Visual means at 2:00 pm. The notice, issued on September 8, 2026, outlines both ordinary and special business items for consideration by the members.

Management Reappointments

Shareholders will vote on the reappointment of three key managerial personnel for a three-year term from August 1, 2027, to July 31, 2030. Each director will receive a remuneration of ₹10 lakh per month.

Ashokkumar Zinzuwadia currently serves as Managing Director, while Hareshbhai Zinzuwadia and Darshit Zinzuwadia serve as Whole-Time Directors. All three are promoters of the company.

Independent Directors

The agenda also includes the regularization of two additional directors as Non-Executive Independent Directors. Dholakiya Dipakkumar Natwarlal and Preetiben Bakulbhai Fichadia were appointed as Additional Directors on July 22, 2026.

Both candidates hold five-year terms commencing from June 28, 2025, to June 27, 2030. Neither holds shares in the company. Dholakiya Natwarlal brings 34 years of experience in gold and diamond jewellery business. Preetiben Fichadia also has 34 years of experience in the sector.

Voting Procedures

Remote e-voting begins on September 27, 2026, at 9:00 am and ends on September 29, 2026, at 5:00 pm. The record date for voting rights is September 18, 2026. National Securities Depository Limited (NSDL) is the authorized agency for facilitating electronic voting.