Shringar House of Mangalsutra Limited Shringar House of Mangalsutra reported a net profit of ₹340.00 million for the quarter ended June 30, 2026, rising 19% year-on-year from ₹285.05 million in Q1FY25. Revenue from operations expanded sharply by 65% to ₹5,484.90 million, compared to ₹3,326.06 million in the prior year period.

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 ₹5,498.35 million, driven primarily by operational revenue growth. Other income contributed a marginal ₹13.45 million, down significantly from ₹79.46 million in the corresponding quarter of FY25.

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 ₹964.32 million from ₹721.32 million.

What the Numbers Show

A key driver of the improved profitability was the change in inventory levels. The company recorded a negative cost of goods sold adjustment due to inventory changes of (₹1,462.54 million), compared to (₹469.26 million) in Q1FY25. This substantial build-up or revaluation of finished goods, work-in-progress, and stock-in-trade significantly reduced the effective cost burden for the quarter, contributing to the expansion in pre-tax profits despite a rise in raw material consumption to ₹5,672.00 million.

IPO Proceeds Utilization

The company has nearly fully utilized the net proceeds from its September 2025 IPO. As of June 30, 2026, ₹4,006.66 million of the ₹4,009.20 million raised had been deployed.

• Working Capital Requirement: Fully utilized at ₹2,800.00 million.
• General Corporate Purpose: ₹813.57 million utilized against a revised cost of ₹813.57 million.
• Issue Expenses: ₹393.09 million utilized, leaving an unutilized balance of ₹2.54 million 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.