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.

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.

Shringar House of Mangalsutra Ltd has accepted the resignation of Mr. Hitesh Khandelwal from the position of Vice President – Sales & Marketing, effective August 17, 2026. The resignation, submitted on June 26, 2026, was driven by the executive's decision to pursue growth and better opportunities. This transition impacts the senior management structure as Mr. Khandelwal was designated as a senior management personnel under Regulation 16(1)(d) of the SEBI Listing Regulations.

The company disclosed the event pursuant to Regulation 30 read with Schedule III of the SEBI (LODR) Regulations, 2015. The intimation was also made in accordance with the company's Policy on the Determination of Materiality for the Disclosure of Events or Information. The specific details regarding the cessation were provided in reference to SEBI Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Mr. Khandelwal expressed gratitude for the opportunities provided during his tenure, noting the professional and personal learning experience gained at the company. He acknowledged the brand's position as a leading house of Mangalsutras and highlighted the milestones achieved in strengthening the brand and expanding market presence during his tenure.

The following table summarizes the key details of the management change:

The resignation email and relevant disclosures have been made available on the company's website. Mr. Khandelwal has committed to ensuring a smooth transition of his responsibilities and extending full support during the handover process.