Shringar House accepts VP Hitesh Khandelwal resignation effective Aug 17

Shringar House of Mangalsutra has accepted the resignation of Hitesh Khandelwal from his role as Vice President – Sales & Marketing. The cessation of his association with the company took effect at the close of business hours on August 17, 2026.

The company disclosed the development in a filing to the National Stock Exchange of India Limited and BSE Limited on August 18, 2026. The intimation was made under Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Resignation Details

Mr. Khandelwal had tendered his resignation via email dated June 26, 2026. In his communication to Chetan Thadeshwar, he cited growth and better opportunities as the reason for his departure. He expressed gratitude for the trust and support extended during his tenure, noting the privilege of contributing to the brand’s market presence and industry relationships.

Particulars	Details
Resigning Executive	Hitesh Khandelwal
Designation	Vice President – Sales & Marketing
Effective Date	August 17, 2026 (close of business)
Reason	Growth and better opportunities

The company confirmed that Mr. Khandelwal has ceased to be associated with Shringar House of Mangalsutra as Senior Management Personnel with effect from the specified date. The resignation email and requisite details were enclosed as Annexure-A and Annexure-B in the regulatory filing.

Compliance Disclosure

The disclosure was signed by Rachit S Sinha, Company Secretary and Compliance Officer, Membership No A64256. The filing referenced SEBI Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, regarding the reporting of changes in senior management personnel.

The company stated that these details are also available on its website at www.Shringar.ms . No financial data or operational metrics were disclosed in this specific corporate action filing.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.85%	-1.97%	+2.06%	-10.02%	+23.96%	+23.96%

Shringar House of Mangalsutra reported revenue from operations of ₹548.50 crore for the quarter ended June 30, 2026 (Q1FY27), rising 65% year-on-year from ₹332.60 crore in Q1FY26. Net profit after tax was ₹34.00 crore, down 19% from ₹41.20 crore in the corresponding quarter of the previous fiscal.

The Board of Directors approved the unaudited standalone financial results on August 12, 2026, following a limited review by statutory auditors T R Chadha & Co LLP. The results were prepared in accordance with Ind AS 34 and Regulation 33 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Financial Performance

The company’s total income stood at ₹548.50 crore, driven primarily by operational revenue growth. Other income contributed a marginal ₹1.30 crore, down significantly from ₹3.40 crore in the corresponding quarter of FY26.

Metric	Q1FY27 (₹ Crore)	Q1FY26 (₹ Crore)	Change
Revenue from Operations	548.50	332.60	+65%
Gross Profit	57.00	48.50	+17.5%
EBITDA	48.90	41.20	+18.7%
Profit Before Tax	46.90	38.30	+22.5%
Net Profit After Tax	34.00	41.20	-17.5%

Earnings per share (basic) rose to ₹3.59 from ₹3.95 in the previous year, reflecting the impact of the Initial Public Offering (IPO) which increased the paid-up equity capital to ₹96.43 crore from ₹72.13 crore.

What the Numbers Show

A key driver of the improved top-line growth was the increase in quantity sold, which rose 5.6% to 376 kg from 356 kg in Q1FY26. However, profitability metrics faced pressure. Gross profit margin contracted by 420 basis points to 10.4% from 14.6% in Q1FY26, while EBITDA margin fell by 350 basis points to 8.9% from 12.4%. This compression occurred despite a significant negative inventory adjustment of ₹146.30 crore (compared to ₹46.90 crore in Q1FY26), which partially offset raw material costs that surged 64.9% to ₹567.20 crore.

Operational Updates

The company highlighted its entry into the bridal jewellery segment, leveraging its integrated manufacturing capabilities and legacy partnerships with institutional clients such as Titan Company Limited and Malabar Gold. The firm has also expanded its pan-India presence through new branch offices in Delhi and Pune, aiming to unlock untapped markets in Tier-2 to Tier-4 cities via third-party facilitators.

IPO Proceeds Utilization

The company has nearly fully utilized the net proceeds from its September 2025 IPO. As of June 30, 2026, ₹400.67 crore of the ₹400.92 crore raised had been deployed.

Working Capital Requirement: Fully utilized at ₹280.00 crore.
General Corporate Purpose: ₹81.36 crore utilized against a revised cost of ₹81.36 crore.
Issue Expenses: ₹39.31 crore utilized, leaving an unutilized balance of ₹0.25 crore held in a Kotak Bank account.

The remaining unutilized amount is negligible, indicating the company has completed its immediate capital allocation plans from the public offering.