Khazanchi Jewellers Ltd

Q1 FY27Consumer Durables

Khazanchi Jewellers Ltd Q1 FY27 Results & Concall Highlights: Revenue, Margins & Order Book

Q1 FY27 earnings call: what management guided on revenue, margins and order book.

Price₹792

Market cap₹2.0K Cr

P/E19.5

Updated29 Aug 2026

Read4 min read

What the Q1 FY27 call signalled

5 of 5 strong

RevenueRank 2

MarginRank 2

CapexYes

FundraiseYes

Order bookYes

The short version

Khazanchi Jewellers targets a top line of around INR 5,000 crores by 2030, up from INR 2,000+ crores in FY26. Khazanchi Jewellers targets annual revenue growth of approximately 25% to 30% driven by both B2B and expanding B2C segments.

From Khazanchi Jewellers Ltd's Q1 FY27 earnings-call transcript · updated 29 Aug 2026.

Revenue & Sales Performance

Rank 2

Khazanchi Jewellers targets a top line of around INR 5,000 crores by 2030, up from INR 2,000+ crores in FY26.
The company aims for an annual revenue growth of approximately 25% to 30% supported by strong B2B foundation and expanding B2C and digital ecosystem.
Volume growth in jewellery quantum was around 15% in Q1 FY27.
Both B2B and B2C segments are expected to grow at 25%-30% CAGR.
Retail contribution is targeted to increase to 40% of total revenue by FY2030 (from current lower levels).
Plans to open 8 to 10 new retail stores (flagship and boutique formats) by 2030 to accelerate B2C growth.
Focus on increasing product mix share, higher-margin products (Kundan Jadau, diamond jewellery) to improve profitability.
Combination of volume growth and price realization expected to drive overall revenue expansion.

Profitability & Margins

Khazanchi Jewellers targets annual revenue growth of approximately 25% to 30% driven by both B2B and expanding B2C segments.
Q1 FY27 showed 45% YoY revenue growth, with EBITDA growing 89% and PAT increasing 84%, indicating strong operating leverage and improving business mix.
The company aims to improve bottom line margins by increasing the retail contribution to 40% by FY2030, as retail stores typically have higher margins than B2B.
They expect PAT margins to improve alongside revenue growth, with EPS already up 82% YoY in Q1 FY27.
Positive cash flow is anticipated in the current fiscal due to disciplined inventory and expansion management.
Continued product portfolio enhancement, including higher-margin products like Kundan Jadau and diamond jewellery, is expected to aid margin expansion.
Overall, Khazanchi is confident of sustaining strong PAT and EPS growth with their balanced expansion and margin improvement strategy.

See what Khazanchi Jewellers Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Yes

Khazanchi Jewellers is planning to open 8 to 10 new retail stores by 2030, consisting of flagship showrooms and boutique-style minimal jewelry stores.
Exact capex per store and total investment will be defined as store locations and formats are finalized.
The company aims to follow an asset-light model going forward, primarily leasing properties instead of owning them, reducing capital tied up in assets.
Expansion plans will mainly use internal earnings; however, if required, additional funds may be raised through debt or other means.
The company is investing in e-commerce and app development for retail and B2B segments to enhance omni-channel presence.
Marketing spends in Q1 were around 5%-7% of total earnings, to boost brand visibility during retail expansion.
Overall capex and strategic investments are focused on retail footprint expansion, digital transformation, and marketing activities through 2030.

Top-ranked in Consumer Durables

Ranked on what management guided this quarter

5x potential

1Nanta Tech₹193 Cr

Rev 1Mar 1

2Visdem Technosys₹101 Cr

Rev 1Mar 1

3₹2.0K Cr

Rev 1Mar 2

4₹1.6K Cr

Rev 1Mar 3

5₹1.3K Cr

Rev 1Mar 3

Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

- Currently, Khazanchi Jewellers has a total bank limit of INR 100 crores, which is utilized as working capital; there is no long-term debt as of now. - Borrowings increased recently due to the new flagship store, but further borrowing will depend on expansion needs. - For upcoming expansion plans, the company intends to primarily use internal earnings. - If necessary, management may consider raising additional funds through debt or other means for future projects. - No explicit mention of equity fundraising in the discussed sections. - The company is focused on an asset-light model for new stores, possibly reducing large capital expenditure needs. In summary, while no concrete ongoing fundraising through debt or equity is reported, future borrowing could occur alongside internal accruals based on expansion requirements.

See what Khazanchi Jewellers Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

Yes

Upcoming festive and wedding season demand is currently active with order execution starting about 15 days after the season began.
Upcoming shows are planned to participate in, reflecting good demand.
Demand is described as quite feasible, with ongoing orders not fixed but showing strong trend as the season progresses.
No specific numeric value of the current or expected order book was disclosed, but the company expresses confidence in a good quarter ahead.
Retail orders vary based on customization and inventory type, with delivery lead times ranging from 7 to 21 days.
The company is actively promoting customer advance schemes like gold saving plans to encourage repeat purchases and support retail inventory funding.

Khazanchi Jewellers Ltd — Quarterly revenue & net profit

Revenue Net profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹508 Cr, net profit ₹26 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

Full financials →

What Khazanchi Jewellers Ltd's management said in earlier quarters

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Indigo Paints Ltd (Q1 FY27)
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TTK Prestige Ltd (Q1 FY27)
TTK Prestige has planned a total investment outlay of around INR 500 crores over three years, including both capital expenditure (capex) and operational…

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Frequently Asked Questions

What were Khazanchi Jewellers Ltd Q1 FY27 results?

What is Khazanchi Jewellers Ltd share price analysis?

Khazanchi Jewellers Ltd currently shows a moderate growth signal based on ranking data. The stock trades at a P/E of 19.5 with a market cap of ₹1,987 Cr. Investors should review the full earnings analysis for detailed insights.

Is Khazanchi Jewellers Ltd planning capital expenditure?

Khazanchi Jewellers is planning to open 8 to 10 new retail stores by 2030, consisting of flagship showrooms and boutique-style minimal jewelry stores.

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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.