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On a full-year basis, gold volumes rose 15% YoY in FY26, while revenues increased by more than 80% YoY, driven by steady demand from existing clients as well as new customer additions.
Operationally, Shanti Gold expanded its client network during the year, particularly gaining traction in northern region while strengthening relationships across India. The company noted that organised jewellery retailers are increasingly shifting towards large-scale manufacturers to streamline sourcing, benefiting players with strong design capabilities and manufacturing scale.
The company also highlighted its design-led approach and continuous product innovation as key factors supporting client retention and growth.
Headquartered in Mumbai, Shanti Gold International has built a pan-India presence, catering to both northern and southern markets through its expanding retail network.
On a standalone basis, Shanti Gold International reported 127.97% rise in net profit to Rs 40.08 crore in Q3 FY26 from Rs 17.58 crore recorded in Q3 FY25. Revenue from operation for Q3 FY26 stood at Rs 636.93 crore, as against Rs 303.22 crore in Q3 FY25, reflecting a 110.06% growth on a year-on-year basis.
Revenue from operation for Q3 FY26 stood at Rs. 636.93 crore, as against Rs. 303.22 crore in Q3 FY25, reflecting a 110.06% growth on a year-on-year basis.
The growth in revenue was fuelled 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% YoY and 25% QoQ, underscoring strong customer traction.
EBITDA for the quarter grew by 113.83%, reaching Rs. 60.18 crore in Q3 FY26 compared to Rs. 28.14 crore in Q3 FY25. EBITDA more than doubled YoY, led by favorable gold prices and a stronger product mix, reflecting our ability to capture market opportunities while staying disciplined.
EBITDA margin for Q3 FY26 was 9.45% in Q3 FY26 as against 9.28% in Q3 FY25.
Pankajkumar Jagawat, chairman & managing director, Shanti Gold International, said: 'The quarter marked a period of strong business momentum for the company, driven by sustained demand from organized jewellery retailers across markets.
The ongoing shift towards organized retail, coupled with higher consumer preference for design led and assured quality jewellery, continues to create meaningful opportunities for scalable manufacturing partners such as us.
During the quarter, we also announced an additional capacity expansion of approximately 4,000 kg. This expansion is aligned with our medium-term growth strategy and is aimed at strengthening our ability to service our customers better, manage demand more efficiently, and be the preferred supplier for organised retail partners. The added capacity positions us well to capitalise on growing outsourcing opportunities within the jewellery manufacturing ecosystem.”
Shanti Gold International is one of India’s most trusted jewellery manufacturers. The company’s modern manufacturing facility in Mumbai spans over 13,448 square feet and integrates traditional craftsmanship with advanced technology to deliver elegant, precise, and contemporary designs.
The scrip fell 1.86% to currently trade at Rs 216.90 on the BSE.
Shanti Gold International announced the proposed expansion of its new manufacturing facility, aimed at addressing the increasing demand from organised jewellery retailers across the country and supporting the Company's expanding portfolio of long-term retail partnerships.
The proposed capacity expansion is strategically aligned with the ongoing structural shift towards organised jewellery retail, the growing preference for dependable and scalable manufacturing partners, and rising demand for design-led and customised jewellery offerings. Upon completion, the Company's manufacturing capacity is expected to increase by approximately 4,000 kgs per annum, strengthening its ability to service existing customers while enabling future growth opportunities.