Khazanchi Jewellers Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹1,762 Cr
- P/E
- 17.26
- ROE
- 32.45%
- PEG
- 0.14
- Price to sales
- 0.79
- Debt to equity
- 0.32
- 52W high / low
- ₹809 / ₹615
- Sales growth (5Y)
- 39.94%
- EBITDA margin
- 6.43%
- Net profit margin
- 4.36%
- Promoter holding
- 74.51%
- Sales (last year)
- ₹2,231 Cr
Incorporated in 1996, Khazanchi Jewellers Ltd is in the business of buying and selling of Gold ornaments, Gold bullion and Silver bullion[1]
Guidance scorecard · Q1 FY27 call
What Khazanchi Jewellers Ltd's management guided
and where it ranks in Consumer Durables
Consumer Durables
RevenueQ1 FY27 call
20–40%- 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.
2 more points from Khazanchi Jewellers Ltd's call on revenue
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MarginsQ1 FY27 call
Up 0–2%See what Khazanchi Jewellers Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- 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.
2 more points from Khazanchi Jewellers Ltd's call on capex
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FundraisingQ1 FY27 call
PlannedSee what Khazanchi Jewellers Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Rising- 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.
2 more points from Khazanchi Jewellers Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
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.
Peers
Consumer Durables companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹166 Cr | 20.3 | |
| 2 | 40%+ | Up 2%+ | ₹100 Cr | 12.7 | |
| 3 | 40%+ | Up 0–2% | ₹3,249 Cr | 17.4 | |
| 4 | 40%+ | Up 0–2% | ₹2,081 Cr | 18.8 | |
| 5 | 40%+ | Flat | ₹2,429 Cr | 41.1 | |
| 6 | 40%+ | Flat | ₹2,163 Cr | 25.6 |
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Pro shows every company guiding 40%+ revenue growth →Full Consumer Durables rankingFinancials of Khazanchi Jewellers Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Khazanchi Jewellers Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Jun 2023 | Dec 2023 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 187 | 208 | 381 | 375 | 394 | 622 | 404 | 549 | 589 | 508 |
| Expenses + | 181 | 197 | 368 | 360 | 377 | 602 | 383 | 516 | 554 | 471 |
| Operating Profit | 6 | 10 | 13 | 15 | 16 | 19 | 21 | 32 | 35 | 37 |
| OPM % | 3% | 5% | 4% | 4% | 4% | 3% | 5% | 6% | 6% | 7% |
| Other Income + | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 3 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 5 | 9 | 12 | 15 | 15 | 18 | 20 | 32 | 34 | 35 |
| Tax % | 46% | 37% | 26% | 26% | 19% | 32% | 25% | 25% | 26% | 27% |
| Net Profit + | 3 | 6 | 9 | 11 | 12 | 13 | 15 | 24 | 25 | 26 |
| EPS in Rs | 1.55 | 2.34 | 3.72 | 4.36 | 5.00 | 5.07 | 6.12 | 9.52 | 10.15 | 10.34 |
Financials of Khazanchi Jewellers Ltd
Profit & Loss
Annual income statement trend
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Sales + | 361 | 382 | 257 | 481 | 821 | 1,772 | 2,049 |
| Expenses + | 353 | 374 | 249 | 465 | 780 | 1,707 | 1,924 |
| Operating Profit | 8 | 8 | 8 | 16 | 41 | 65 | 125 |
| OPM % | 2% | 2% | 3% | 3% | 5% | 4% | 6% |
| Other Income + | 1 | 1 | 1 | 1 | 1 | 1 | 2 |
| Interest | 6 | 5 | 4 | 6 | 5 | 4 | 6 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Profit before tax | 3 | 4 | 4 | 10 | 37 | 61 | 121 |
| Tax % | 24% | 24% | 23% | 26% | 26% | 26% | 26% |
| Net Profit + | 2 | 3 | 3 | 8 | 27 | 45 | 89 |
| EPS in Rs | 11.04 | 18.15 | 36.13 | ||||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 6% | 0% |
Financials of Khazanchi Jewellers Ltd
Balance Sheet
Capital structure and asset base
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 10 | 10 | 10 | 10 | 25 | 25 | 25 |
| Reserves | 13 | 16 | 19 | 26 | 163 | 207 | 295 |
| Borrowings + | 78 | 75 | 84 | 85 | 55 | 65 | 110 |
| Other Liabilities + | 3 | 13 | 12 | 24 | 12 | 23 | 36 |
| Total Liabilities | 104 | 113 | 124 | 145 | 254 | 320 | 466 |
| Fixed Assets + | 13 | 9 | 13 | 13 | 13 | 13 | 25 |
| CWIP | 0 | 0 | 0 | 0 | 2 | 6 | 0 |
| Investments | 0 | 0 | 0 | 0 | 3 | 4 | 0 |
| Other Assets + | 91 | 104 | 112 | 132 | 236 | 296 | 441 |
| Total Assets | 104 | 113 | 124 | 145 | 254 | 320 | 466 |
Financials of Khazanchi Jewellers Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 6 | 5 | -1 | 6 | -83 | 0 | -36 |
| Cash from Investing Activity + | -4 | 4 | -4 | -1 | -6 | -4 | -2 |
| Cash from Financing Activity + | -4 | -8 | 5 | -6 | 90 | 5 | 38 |
| Net Cash Flow | -2 | 1 | 0 | -1 | 1 | 2 | 1 |
| Free Cash Flow | 2 | 9 | -5 | 6 | -86 | -4 | -42 |
| CFO/OP | 87% | 71% | -2% | 54% | -180% | 25% | -8% |
Financials of Khazanchi Jewellers Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 1 | 1 | 5 | 2 | 10 | 4 | 4 |
| Inventory Days | 90 | 101 | 158 | 101 | 95 | 55 | 78 |
| Days Payable | 3 | 12 | 16 | 18 | 1 | 1 | 5 |
| Cash Conversion Cycle | 88 | 89 | 146 | 85 | 104 | 58 | 76 |
| Working Capital Days | 88 | 58 | 96 | 56 | 83 | 48 | 52 |
| ROCE % | 8% | 8% | 14% | 23% | 24% | 35% |
Guidance history
How Khazanchi Jewellers Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 20–40% | Up 0–2% | Planned | Planned | Rising |
| Q4 FY26 call → | 20–40% | Up 2%+ | Planned | None planned | — |
| Q3 FY26 call → | 20–40% | Up 2%+ | Planned | — | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
66 out of 100 — Steady
Over the past year its share price has moved roughly in the middle of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +10.6% | 69% |
| Last 6 months | +7.2% | 63% |
| Last 3 months | +0.2% | 64% |
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Khazanchi Jewellers Ltd: 0.4 × 69 + 0.4 × 63 + 0.2 × 64 = 66.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Khazanchi Jewellers Ltd's management said in earlier quarters
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