Shanti Gold International announced its audited financial results for the quarter and year ended March 31, 2026, reporting a significant surge in profitability. For the fourth quarter, Profit After Tax (PAT) stood at ₹51.93 crore, a robust increase of 465.30% from ₹9.19 crore in the corresponding quarter of the previous year. Revenue from Operations for Q4 FY26 reached ₹658.93 crore, growing 121.65% year-on-year from ₹297.29 crore in Q4 FY25, driven by volume growth and elevated gold prices. The company published these results in newspapers on May 23, 2026, in compliance with SEBI regulations.

Operational Performance

The company's operational efficiency improved markedly during the quarter. EBITDA for Q4 FY26 rose to ₹67.01 crore, a growth of 217.26% compared to ₹21.12 crore in the prior year. Consequently, the EBITDA margin expanded to 10.17% from 7.10% in Q4 FY25. Volume growth for the quarter stood at 25% year-on-year, supported by the onboarding of new customers and healthy demand momentum during the wedding season.

Full Year Financials

For the full fiscal year FY26, the company reported a PAT of ₹140.15 crore, an increase of 159.05% compared to ₹54.10 crore in FY25. Revenue from Operations for the year surged 82.46% to ₹2,018.71 crore from ₹1,106.41 crore in the previous year. The full-year EBITDA stood at ₹199.00 crore, up 121.31% from ₹89.92 crore in FY25, with an EBITDA margin of 9.86%. Earnings per share (EPS) for the year increased to ₹21.22 from ₹10.02 in the previous year.

Strategic Outlook

Management attributed the strong performance to a continued shift towards organised jewellery retail and the company's ability to offer design-led products. During the year, Shanti Gold forayed into new product lines, including Turkish jewellery and Mangalsutra, and expanded its manufacturing capacity. The company remains focused on strengthening its product portfolio and scaling capabilities to meet growing customer demand.

Financial Metrics Summary

The table below summarises the key financial metrics for the quarter and year ended March 31, 2026:

Shanti Gold International has submitted its restated financial results for the first, second, and third quarters of the fiscal year 2025-26. The restatement follows a voluntary change in the company's accounting policy for inventory valuation, which was approved by the Board of Directors on May 11, 2026. The statutory auditors, J. Kala & Associates, have issued a Limited Review Report on these unaudited restated results.

Accounting Policy Change

The Board approved a shift in the inventory valuation method from the First-In-First-Out (FIFO) method to the Weighted Average Cost (WAC) method. This change has been applied retrospectively with effect from April 01, 2024, as mandated under Ind AS 8. The company stated that the WAC method better reflects the blended cost of inventories, improves cost and revenue matching, and aligns its practices with prevailing industry norms. Consequently, comparative financial results for the corresponding periods have been restated.

Restated Financial Performance

The restated financial results for the quarters ended June 30, September 30, and December 31, 2025, indicate the company's performance under the new accounting policy.

For the quarter ended June 30, 2025, the company reported a net profit of ₹343.55 million on revenue from operations of ₹2927.75 million. In the quarter ended September 30, 2025, the net profit stood at ₹260.03 million with revenue of ₹4300.78 million. For the quarter ended December 31, 2025, the net profit was ₹278.65 million on revenue of ₹6369.25 million.

The table below summarizes the key restated financial metrics for the quarters ended September 30, 2025, and December 31, 2025:

Operational Details

The company operates as a single segment engaged in the business of wholesaling and manufacturing gold ornaments. The paid-up equity share capital as of September 30, 2025, was ₹720.96 million, increasing from ₹540.00 million as of March 31, 2025, following the successful completion of its Initial Public Offering (IPO). The equity shares were listed on BSE and NSE with effect from August 1, 2025.