Shanti Gold International Limited delivered exceptional performance in Q3 FY26, with revenue surging 110.06% year-on-year to Rs 636.93 crores compared to Rs 303.22 crores in Q3 FY25. The company held its earnings conference call on February 11, 2026, highlighting strong operational execution and growing scale of operations with organized jewellery retailers.

Strong Financial Performance

The company's financial metrics demonstrated robust growth across all parameters during the quarter:

For the nine-month period of FY26, the company achieved revenue of Rs 1,359.78 crores compared to Rs 809.12 crores in the corresponding period of FY25, registering growth of 68.06%. The nine-month volume reached 1,285 kg, reflecting 12% growth year-on-year.

Nine-Month Performance Highlights

The extended period performance showcased sustained momentum:

Major Capacity Expansion Plans

The company announced significant capacity expansion to meet growing demand from organized retailers:

Chairman and Managing Director Pankajkumar Jagawat stated that the expanded capacity will enhance the company's ability to offer broader design portfolio, process higher volumes effectively, and respond to changing customer behavior while supporting gradual shift in product mix and operating leverage.

Product Portfolio Expansion

The company has diversified its product offerings during the quarter, introducing a new line of plain gold jewellery aimed at the mass market segment. This new offering aligns with affordability-led demand and contributed meaningfully to incremental volume growth. The company also announced plans to enter the Mangalsutra jewellery category, representing a structural and culturally significant segment.

Export Growth Strategy

Shanti Gold is expanding its international presence with plans to increase export revenue from current 4% to 10% of total revenue:

Credit Rating Upgrade

The company received a credit rating upgrade from CARE Ratings, with long-term bank facility rating improved from BBB+ to A- stable, and short-term facility rating at A2+. This upgrade reflects improved operating performance, strengthened balance sheet position, and disciplined working capital management.

Looking ahead, the company expects 60-70% revenue growth in FY27, supported by the new capacity additions and strong demand visibility from organized retail partners. The management maintains PAT margin guidance of around 4% as the company balances high-margin bridal jewellery with new mass market product lines.

Shanti Gold International Limited has announced robust financial results for the quarter ended December 31, 2025, showcasing exceptional growth across key performance metrics. The company reported revenue from operations of Rs. 636.93 crore in Q3 FY26, representing a remarkable 110.06% year-on-year growth from Rs. 303.22 crore in Q3 FY25.

Financial Performance Highlights

The company's financial performance demonstrated strong momentum across all key metrics during the quarter. EBITDA grew by 113.83% to Rs. 60.18 crore compared to Rs. 28.14 crore in the previous year, while maintaining healthy margins.

Nine-Month Performance

For the nine months ended December 31, 2025, the company maintained strong growth trajectory. Revenue from operations reached Rs. 1,359.78 crore compared to Rs. 809.12 crore in 9M FY25, registering 68.06% growth.

Management Commentary

Mr. Pankajkumar Jagawat, Chairman & Managing Director, attributed the strong performance to sustained demand from organized jewellery retailers and favorable market conditions. He highlighted that the quarter was driven by robust festive and wedding demand, with October recording one of the highest monthly sales in the company's history. Volume growth stood at 31% year-on-year and 25% quarter-on-quarter, reflecting strong customer traction.

Strategic Expansion

The company announced an additional capacity expansion of approximately 4,000 kg during the quarter, aligned with its medium-term growth strategy. This expansion aims to strengthen the company's ability to service customers better and manage demand more efficiently while positioning it as the preferred supplier for organized retail partners.

Regulatory Compliance

The financial results were approved by the Board of Directors on February 10, 2026, and submitted to stock exchanges under Regulation 33 of SEBI regulations. The Board meeting commenced at 11:00 a.m. IST and concluded at 11:35 a.m. IST. The results were reviewed by statutory auditors J. Kala & Associates, Chartered Accountants, and have been uploaded on the company's website at www.shantigold.in . The company has also communicated these results to BSE Limited and National Stock Exchange of India Limited as per regulatory requirements.