Shanti Gold reports Q4FY26 revenue of ₹658.93 crore
Shanti Gold International reported its highest ever quarterly revenue of ₹658.93 crore in Q4FY26, a 121.65% increase YoY, driven by strong customer traction and elevated gold prices. For the full year FY26, the company achieved a revenue of ₹2,018.71 crore and a PAT of ₹140.15 crore. The management announced a significant capacity expansion to nearly 7,900 kilogram per annum across its Mumbai and Jaipur facilities. Looking ahead, the company guided for 30-40% volume growth and 60-70% value growth in the coming year, with core PAT margins expected around 4%.
*this image is generated using AI for illustrative purposes only.
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.
| Parameter | Q4 FY26 | Q4 FY25 | FY26 | FY25 |
|---|---|---|---|---|
| Revenue from Operations (₹ crore) | 658.93 | 297.29 | 2,018.71 | 1,106.41 |
| Profit After Tax (₹ crore) | 51.93 | 9.19 | 140.15 | 54.10 |
| EBITDA (₹ crore) | 67.01 | 21.12 | 199.00 | 89.92 |
| EBITDA Margins (%) | 10.17% | 7.10% | 9.86% | 8.13% |
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.
Historical Stock Returns for Shanti Gold International
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.69% | -4.99% | -3.90% | +12.47% | -4.80% | -4.80% |
How will the transition to the weighted average cost method impact financial reporting if gold prices stabilize or decline in the future?
What is the expected timeline for the Marol and Jaipur facilities to become fully operational and contribute to revenue?
How does the company plan to manage the core business margin of 4% if gold price volatility reduces?
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