Shanti Gold International Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹2,541 Cr
- P/E
- 13.64
- ROE
- 38.08%
- PEG
- 0.15
- Price to sales
- 1.02
- Debt to equity
- 0.36
- 52W high / low
- ₹423 / ₹157
- Sales growth (5Y)
- 39.91%
- EBITDA margin
- 10.61%
- Net profit margin
- 6.94%
- Promoter holding
- 70.35%
- Sales (last year)
- ₹2,442 Cr
Incorporated in 2003, Shanti Gold International Ltd offers a wide range of designs and products of 22KT CZ gold jewellery.[1]
Guidance scorecard · Q1 FY27 call
What Shanti Gold International Ltd's management guided
and where it ranks in Consumer Durables
Consumer Durables
RevenueQ1 FY27 call
40%+- The company expects to sustain strong growth over the next 3-5 years, driven by capacity expansion, new product launches, and entry into new markets including Dubai and other geographies.
- The Jaipur facility (50,000 sq ft initial phase on 3 acres) will enable significant future capacity expansion beyond the current 1,200 kgs.
- Growth is fueled by increased access to capital post-IPO and rights issue, enabling faster scaling compared to historical moderate growth.
2 more points from Shanti Gold International Ltd's call on revenue
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MarginsQ1 FY27 call
Up 0–2%See what Shanti Gold International Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- The company has allocated around INR 47 crores for the Jaipur manufacturing facility, which is expected to be operational by mid-November or December 2026.
- The Jaipur facility is the first phase on a 50,000 sq. ft. segment of a 3-acre land parcel, with plans for significant capacity expansion over the next 3-5 years as demand grows.
- The new Marol manufacturing facility began operations in June 2026, enhancing production capacity and supporting revenue growth.
- The company is expanding into new geographies, including setting up an office in Dubai to strengthen its international footprint.
2 more points from Shanti Gold International Ltd's call on capex
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FundraisingQ1 FY27 call
PlannedSee what Shanti Gold International Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
- Management highlights strong growth momentum with capacity expansion underway (Jaipur facility operational from November/December).
- They anticipate 30% to 40% volume growth and 50% to 60% value growth for FY27, indicating a robust demand pipeline.
- The company maintains ready stock inventory rather than order-to-order production, supporting immediate fulfillment and customer acquisition.
2 more points from Shanti Gold International 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
- 3
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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 | Shanti GoldThis stock | 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 Shanti Gold International Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Shanti Gold International Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Sales + | 240 | 266 | 303 | 297 | 293 | 430 | 637 | 659 |
| Expenses + | 225 | 249 | 275 | 276 | 254 | 369 | 577 | 592 |
| Operating Profit | 15 | 17 | 28 | 21 | 38 | 61 | 60 | 67 |
| OPM % | 6% | 6% | 9% | 7% | 13% | 14% | 9% | 10% |
| Other Income + | 2 | 2 | 1 | 1 | 1 | 3 | 3 | 3 |
| Interest | 4 | 5 | 5 | 6 | 5 | 4 | 4 | 4 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 |
| Profit before tax | 12 | 13 | 23 | 15 | 33 | 58 | 57 | 64 |
| Tax % | 24% | 28% | 22% | 40% | 25% | 24% | 29% | 19% |
| Net Profit + | 9 | 9 | 18 | 9 | 25 | 44 | 40 | 52 |
| EPS in Rs | 9.99 | 10.28 | 3.26 | 1.70 | 4.56 | 6.08 | 5.57 | 7.20 |
Financials of Shanti Gold International Ltd
Profit & Loss
Annual income statement trend
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Sales + | 377 | 428 | 679 | 711 | 1,106 | 2,019 |
| Expenses + | 356 | 409 | 637 | 661 | 1,015 | 1,820 |
| Operating Profit | 20 | 19 | 43 | 50 | 92 | 199 |
| OPM % | 5% | 4% | 6% | 7% | 8% | 10% |
| Other Income + | 1 | 2 | 3 | 3 | 6 | 10 |
| Interest | 6 | 10 | 12 | 14 | 19 | 18 |
| Depreciation | 2 | 2 | 2 | 3 | 6 | 6 |
| Profit before tax | 14 | 8 | 31 | 36 | 73 | 184 |
| Tax % | 41% | 61% | 36% | 25% | 23% | 24% |
| Net Profit + | 8 | 3 | 20 | 27 | 56 | 140 |
| EPS in Rs | 9.33 | 3.67 | 22.02 | 29.86 | 10.34 | 19.44 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Shanti Gold International Ltd
Balance Sheet
Capital structure and asset base
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 9 | 9 | 9 | 9 | 54 | 72 |
| Reserves | 42 | 41 | 61 | 88 | 98 | 526 |
| Borrowings + | 116 | 144 | 165 | 211 | 243 | 216 |
| Other Liabilities + | 30 | 20 | 22 | 18 | 24 | 42 |
| Total Liabilities | 197 | 214 | 257 | 325 | 420 | 856 |
| Fixed Assets + | 29 | 43 | 42 | 60 | 57 | 59 |
| CWIP | 14 | 4 | 6 | 8 | 9 | 10 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets + | 154 | 167 | 208 | 257 | 354 | 787 |
| Total Assets | 197 | 214 | 257 | 325 | 420 | 856 |
Financials of Shanti Gold International Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Cash from Operating Activity + | -28 | -16 | -4 | -13 | -15 | -261 |
| Cash from Investing Activity + | 9 | -3 | -4 | -5 | 2 | -17 |
| Cash from Financing Activity + | 18 | 18 | 9 | 20 | 13 | 272 |
| Net Cash Flow | -0 | -0 | 1 | 2 | -0 | -5 |
| Free Cash Flow | -20 | -20 | -7 | -23 | -19 | -267 |
| CFO/OP | -114% | -66% | 10% | -6% | -2% | -111% |
Financials of Shanti Gold International Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 80 | 60 | 55 | 40 | 60 | 66 |
| Inventory Days | 49 | 77 | 50 | 72 | 54 | 70 |
| Days Payable | 4 | 7 | 4 | 3 | 2 | 2 |
| Cash Conversion Cycle | 125 | 130 | 101 | 110 | 112 | 134 |
| Working Capital Days | 27 | 38 | 31 | 19 | 34 | 90 |
| ROCE % | 10% | 20% | 19% | 26% | 33% |
Guidance history
How Shanti Gold International Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 40%+ | Up 0–2% | Planned | Planned | — |
| Q4 FY26 call → | 40%+ | Flat | Planned | Planned | Rising |
| Q3 FY26 call → | 40%+ | Flat | Planned | Planned | — |
| Q2 FY26 call → | 40%+ | Flat | Planned | Planned | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
45 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 | +55.3% | 86% |
| Last 6 months | +65.3% | 92% |
| Last 3 months | +53.4% | 96% |
The price is 21.6% below its all-time high of ₹423.3 (16 Oct 2026). Stocks more than 20% below their peak have their score halved, so 91 became 45.
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 Shanti Gold International Ltd: 0.4 × 86 + 0.4 × 92 + 0.2 × 96 = 91, halved to 45 because the price is more than 20% below its all-time high.
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 Shanti Gold International Ltd's management said in earlier quarters
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