Shanti Gold International Limited has commenced commercial production at its new manufacturing facility in Marol, Andheri, effective June 08, 2026. The expansion increases the company's annual production capacity by approximately 4,000 kg per annum, strengthening its ability to service existing customers and pursue new partnerships in the organised jewellery retail sector.

The new facility, located at Ground to 3rd Floor, Plot No. 1, Compartment No. 5, Marol Co-operative Industrial Estate, Vasanji Road, Andheri (East), Mumbai, is fully operational. It integrates advanced manufacturing technology with traditional craftsmanship to deliver design-led and customised jewellery offerings. The development follows the company's initial disclosure regarding the expansion project on January 22, 2026.

Capacity Expansion Details

The operational milestone marks the completion of the capacity expansion project announced earlier this year. The additional volume is intended to meet rising demand from retail partners and support scaling operations while maintaining quality standards.

Management Commentary

Pankajkumar Jagawat, Chairman & Managing Director, stated that the completion of the expansion is a significant milestone reflecting the team's dedication and commitment to growth. He noted that the expanded capacity positions the company strongly to meet rising demand and scale operations while maintaining design excellence. The focus remains on deepening existing client relationships and building new long-term partnerships.

Shanti Gold International has reported its financial results for the quarter and year ended March 31, 2026, alongside the release of its earnings call transcript. The company achieved its highest ever quarterly revenue in Q4FY26, driven by stronger customer traction and elevated gold prices. Revenue from operations for the quarter stood at ₹658.93 crores, a growth of 121.65% compared to ₹297.29 crores in Q4 FY25. Profit after tax for the quarter rose to ₹51.93 crores from ₹9.19 crores in the corresponding period last year.

Financial Performance

For the full fiscal year FY26, revenue from operations reached ₹2,018.71 crores, registering a growth of 82.46% YoY from ₹1,106.41 crores in FY25. Profit after tax for FY26 stood at ₹140.15 crores compared to ₹54.10 crores in the previous year. EBITDA for FY26 was ₹199 crores, with margins improving to 9.86% from 8.13% in FY25.

Operational Highlights and Expansion

The management highlighted that the company has transitioned its inventory valuation methodology from the First In, First Out (FIFO) method to the weighted average cost (WAC) method with retrospective effect from April 01, 2024, to better reflect blended inventory costs amidst gold price volatility.

Shanti Gold is expanding its manufacturing capabilities to support future growth. The existing Andheri facility operates at an installed capacity of approximately 2,700 kilo per annum. A new facility in Marol, Mumbai, will add approximately 4,000 kilo per annum, and the Jaipur facility will add 1,200 kilo per annum. Once operational, the total installed manufacturing capacity will reach nearly 7,900 kilogram per annum.

Guidance and Outlook

For the coming year, the company guided for volume growth of 30% to 40% and value growth of 60% to 70%. The management stated that the core business margin is expected to be around 4%, with any additional gains dependent on gold price movements. The company also noted that its Dubai subsidiary incorporation has been extended to June 2026 due to geopolitical factors, with exports expected to contribute between 10% to 20% of revenue in the future.