RBZ Jewellers Ltd
RBZ Jewellers Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management said on revenue, margins and capex.
Guidance rank: #35 of 87 in Consumer Durables
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The short version
The company aims to achieve a balanced 50%-50% revenue share between B2B and B2C in the medium term, shifting towards stronger retail growth while maintaining B2B volumes. RBZ Jewellers expects continued growth through expansion of retail stores, including two new stores in Surat and Rajkot, aiming to become a major player in Gujarat retail. - The company is confident in meeting its INR 700 crore revenue and INR 45 crore PAT guidance for the year, with H2 and Q3 showing strong momentum, especially in retail. - Growth is expected to be supported by an increase in volumes and penetration in the B2B segment through exhibitions, new designs, and experimenting with different caratages (e.g., 18 carat). - Job work services, which have higher margins, are growing significantly, positively impacting profitability. - Margins may vary quarterly depending on product mix (job work vs.
From RBZ Jewellers Ltd's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.
Revenue & Sales Performance
- The company aims to achieve a balanced 50%-50% revenue share between B2B and B2C in the medium term, shifting towards stronger retail growth while maintaining B2B volumes.
- Retail expansion is a key growth driver, targeting becoming one of the largest players in Gujarat with additional store openings in Ahmedabad, Surat, and Rajkot, expecting store maturity revenues around INR 400-500 crores in 4-5 years.
- Gold metal loan (GML) usage is increasing among corporate clients, influencing sales mix towards more job work, potentially affecting topline figures but sustaining profitability and volumes.
- Volume growth is steady, with around 380 kg volume done (YoY) in Q2, showing robustness despite gold price fluctuations.
2 more points from RBZ Jewellers Ltd's call on revenue
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Profitability & Margins
See what RBZ Jewellers Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- RBZ Jewellers plans to open 2 new stores in Surat and Rajkot, contributing to expansion efforts.
- Inventory size is expected to increase in line with store expansion, with funding mainly through debt, internal accruals, and stock optimization.
- Marketing budget for new store expansions is projected at around 2%-3% of sales, with mature stores having 0.75%-1% marketing expenditure.
- Store maturity sales are expected around INR 500 crores for Surat and INR 400 crores for Rajkot, with maturity anticipated in 4 to 5 years.
2 more points from RBZ Jewellers Ltd's call on capex
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Top-ranked in Consumer Durables
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what RBZ Jewellers Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Job work orders were largely completed by Quarter 2 of the year.
- Due to an early season this year, Quarter 3 job work demand is expected to be muted compared to previous periods.
- Despite a quieter Quarter 3, year-on-year job work demand remains strong.
- The company is experimenting with 18-carat jewellery to cater to evolving customer preferences.
2 more points from RBZ Jewellers Ltd's call on order book
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RBZ Jewellers Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹189 Cr, net profit ₹12 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What RBZ Jewellers Ltd's management said in earlier quarters
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Potential multibaggers · Q2 FY27
Potential multibaggers in Consumer Durables
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
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Frequently Asked Questions
What were RBZ Jewellers Ltd Q2 FY26 results?
The company aims to achieve a balanced 50%-50% revenue share between B2B and B2C in the medium term, shifting towards stronger retail growth while maintaining B2B volumes. RBZ Jewellers expects continued growth through expansion of retail stores, including two new stores in Surat and Rajkot, aiming to become a major player in Gujarat retail. - The company is confident in meeting its INR 700 crore revenue and INR 45 crore PAT guidance for the year, with H2 and Q3 showing strong momentum, especially in retail. - Growth is expected to be supported by an increase in volumes and penetration in the B2B segment through exhibitions, new designs, and experimenting with different caratages (e.g., 18 carat). - Job work services, which have higher margins, are growing significantly, positively impacting profitability. - Margins may vary quarterly depending on product mix (job work vs.
What is RBZ Jewellers Ltd share price analysis?
RBZ Jewellers Ltd currently shows a neutral. The stock trades at a P/E of 14.0 with a market cap of ₹797 Cr. Investors should review the full earnings analysis for detailed insights.
Is RBZ Jewellers Ltd planning capital expenditure?
RBZ Jewellers plans to open 2 new stores in Surat and Rajkot, contributing to expansion efforts.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.