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📊 Last 7 days — analysed filings by sentiment
Note: These are AI-generated, educational summaries of public NSE
filings — grounded in each document, but not investment advice and possibly incomplete.
Verify against the original filing and consult a SEBI-registered adviser before acting.
39 announcements match the current filters (relevance ≥ 5).
Shanti Gold FY26 Net Profit Surges 159% to ₹14.02 Cr; Revenue Up 82% YoY
Shanti Gold International Limited reported a stellar performance for the financial year ended March 31, 2026, with total revenue reaching ₹202.85 crore, an 82% increase over the previous year. Net profit for FY26 more than doubled to ₹14.02 crore compared to ₹5.41 crore in FY25. The company also transitioned its inventory valuation method from FIFO to Weighted Average Cost (WAC) to align with industry norms, which resulted in a retrospective restatement of previous figures.
Key Highlights
Total Revenue for FY26 grew 82.3% YoY to ₹20,284.97 lakhs.
Net Profit for the full year FY26 surged 159% to ₹1,401.54 lakhs from ₹541.04 lakhs in FY25.
Q4 FY26 Net Profit stood at ₹519.28 lakhs, representing a 67% sequential growth over Q3 FY26.
Basic and Diluted EPS for FY26 improved significantly to ₹21.22 from ₹10.02 in the previous year.
The company voluntarily changed its inventory valuation policy to Weighted Average Cost (WAC) effective April 1, 2024.
👀 What to Watch
Investors should view the strong top-line and bottom-line growth positively, though they should also evaluate the impact of the accounting policy change on long-term margin consistency.
Shanti Gold Changes Inventory Valuation to WAC Method; FY25 PBT Revised to ₹7,109 Lakhs
Shanti Gold International Limited has voluntarily changed its accounting policy for inventory valuation from the First-In-First-Out (FIFO) method to the Weighted Average Cost (WAC) method. This change is applied retrospectively from April 1, 2024, to better align with industry norms and manage raw material price volatility. For FY 2024-25, the Profit Before Tax (PBT) under the new method is ₹7,109.33 Lakhs, slightly lower than the ₹7,283.09 Lakhs reported under FIFO. Retained earnings as of April 1, 2024, have also been adjusted downward to ₹7,801.19 Lakhs from ₹8,766.95 Lakhs.
Key Highlights
Retrospective change in inventory valuation from FIFO to Weighted Average Cost (WAC) effective April 01, 2024.
FY 2024-25 Profit Before Tax (PBT) impacted by a reduction of approximately ₹173.76 Lakhs under the new method.
Opening inventory for FY 2024-25 adjusted downward by ₹1,290.57 Lakhs to ₹11,569.68 Lakhs.
Retained earnings as of April 01, 2024, reduced by ₹965.76 Lakhs to reflect the retrospective accounting adjustment.
Management cites improved cost-revenue matching and better reflection of blended costs as the primary rationale.
👀 What to Watch
Investors should update their financial models to reflect the revised historical earnings and lower book value resulting from this accounting change. While the change is non-cash, it provides a more conservative and industry-standard view of inventory costs during periods of price volatility.
Shanti Gold Changes Inventory Valuation to WAC; FY25 PBT Revised to ₹71.09 Crore
Shanti Gold International has voluntarily changed its inventory valuation method from First-In-First-Out (FIFO) to Weighted Average Cost (WAC) to better reflect price volatility. This change is applied retrospectively from April 01, 2024, leading to a revision in historical financial data. For FY 2024-25, the Profit Before Tax (PBT) has been adjusted downwards from ₹72.83 crore to ₹71.09 crore. Additionally, opening retained earnings as of April 2024 have been reduced by approximately ₹9.65 crore to reflect the new valuation method.
Key Highlights
Shift from FIFO to Weighted Average Cost (WAC) method effective retrospectively from April 1, 2024.
FY 2024-25 Profit Before Tax (PBT) revised downwards by ₹1.74 crore to ₹71.09 crore.
Retained earnings as of April 01, 2024, adjusted from ₹87.67 crore to ₹78.01 crore.
Closing inventory for FY 2024-25 stands at ₹133.94 crore under WAC versus ₹148.58 crore under FIFO.
Rationale for change includes better cost-revenue matching and alignment with industry norms amidst price volatility.
👀 What to Watch
Investors should note the reduction in historical retained earnings and PBT due to this accounting shift, which may affect valuation multiples. Monitor upcoming quarterly results to assess if the WAC method successfully stabilizes margin reporting against raw material price fluctuations.
Shanti Gold Q4 FY26 Update: Revenue Surges 120% YoY, Volumes Up 25%
Shanti Gold International reported its strongest-ever quarterly performance in Q4 FY26, with revenue soaring over 120% YoY. This growth was driven by a 25% increase in volumes and high gold prices during the peak wedding season. For the full year FY26, the company achieved an 80% revenue increase and 15% volume growth. The company is successfully expanding its client base in Northern India and benefiting from the shift towards organized retail sourcing.
Key Highlights
Q4 FY26 revenue grew by over 120% YoY, marking the strongest quarterly performance in the company's history.
Gold volumes increased by 25% YoY in Q4 FY26 and 15% YoY for the full fiscal year 2026.
Full-year FY26 revenue rose by over 80% YoY, aided by volume expansion and elevated gold prices.
Successfully onboarded new clients in the Northern region, enhancing pan-India presence within the organized retail ecosystem.
👀 What to Watch
Investors should look for the upcoming audited financial results to confirm if the massive revenue growth translates into proportional margin expansion. The company's strong traction with organized retailers makes it a key beneficiary of the sector's formalization.
Shanti Gold Delays Dubai Subsidiary Incorporation to June 30, 2026
Shanti Gold International Limited has announced a revision in the timeline for incorporating its wholly owned subsidiary in Dubai, UAE. The expected completion date has been pushed from March 31, 2026, to June 30, 2026, representing a three-month delay. The company attributed this postponement to ongoing geopolitical tensions and conflict in the region, which have disrupted administrative processes and licensing. Management is currently working with local authorities to navigate these logistical bottlenecks and complete the process.
Key Highlights
Expected date of incorporation for Dubai subsidiary revised from March 31, 2026, to June 30, 2026.
Delay is caused by regional geopolitical tensions and war-like situations affecting UAE operations.
Administrative bottlenecks include delays in license issuance and documentation verification by local authorities.
The subsidiary is intended to be a wholly owned entity of Shanti Gold International Limited.
👀 What to Watch
Investors should monitor the geopolitical situation in the Middle East as it remains the primary hurdle for the company's international expansion. Track the new June 30 deadline for confirmation of successful incorporation.
Shanti Gold Proposes 5-Year Re-appointment and Pay Hike for MD and Whole-Time Director
Shanti Gold International Limited has issued a postal ballot notice to seek shareholder approval for the re-appointment of its top leadership for five-year terms starting September 1, 2026. The resolutions include the re-appointment of Mr. Pankajkumar Jagawat as Managing Director and Mr. Manojkumar Jain as Whole-Time Director. Significantly, the company is also proposing an increase in remuneration for both directors, effective retroactively from February 1, 2026. Shareholders are invited to vote on these ordinary resolutions via electronic means between March 25 and April 23, 2026.
Key Highlights
Proposed 5-year re-appointment of MD Pankajkumar Jagawat from Sept 1, 2026, to Aug 31, 2031
Proposed 5-year re-appointment of WTD Manojkumar Jain from Sept 1, 2026, to Aug 31, 2031
Increase in remuneration for both directors effective from February 1, 2026
E-voting period scheduled from March 25, 2026, to April 23, 2026, with a cut-off date of March 20, 2026
👀 What to Watch
Investors should review the specific remuneration figures in the explanatory statement to ensure the pay hikes are commensurate with the company's financial performance and industry benchmarks. While management continuity is positive, the impact of increased managerial costs on net margins should be monitored.
Shanti Gold Re-appoints MD & WTD for 5-Year Terms; Approves Remuneration Hike
The Board of Shanti Gold International has approved the re-appointment of Mr. Pankajkumar Jagawat as Managing Director and Mr. Manojkumar Jain as Whole-time Director for a five-year tenure from September 2026 to August 2031. Both leaders have been with the company since its inception and possess over 20-25 years of experience in the jewellery industry. The board also approved an increase in their remuneration effective February 1, 2026, subject to shareholder approval via postal ballot. This move ensures management stability and continuity for the company's long-term operations.
Key Highlights
Re-appointment of Mr. Pankajkumar Jagawat as MD for a 5-year term starting September 1, 2026.
Re-appointment of Mr. Manojkumar Jain as Whole-time Director for a 5-year term starting September 1, 2026.
Increase in remuneration for both directors approved with effect from February 1, 2026.
MD Pankajkumar Jagawat brings over 25 years of experience in jewellery manufacturing and finance.
WTD Manojkumar Jain has over 20 years of experience in product development and operations.
👀 What to Watch
Investors should take confidence in the leadership continuity provided by these re-appointments of the company's founding leaders. Monitor the upcoming postal ballot for details on the specific quantum of the remuneration increase.
Shanti Gold Re-appoints MD and WTD for 5-Year Terms; Approves Remuneration Hike
The Board of Shanti Gold International has approved the re-appointment of Mr. Pankajkumar Jagawat as Managing Director and Mr. Manojkumar Jain as Whole-time Director for five-year terms starting September 1, 2026. Both leaders have been with the company since its inception and bring over 20-25 years of industry experience. Additionally, the board has approved an increase in their remuneration effective February 1, 2026. These decisions are subject to final approval from shareholders via a Postal Ballot.
Key Highlights
Re-appointment of Mr. Pankajkumar Jagawat as MD for a 5-year term from 2026 to 2031
Re-appointment of Mr. Manojkumar Jain as Whole-time Director for a 5-year term from 2026 to 2031
Remuneration increase for both key directors approved effective from February 1, 2026
Leadership continuity secured with executives holding 20-25+ years of industry experience
👀 What to Watch
Investors should view the leadership continuity as a positive sign for long-term strategic stability. However, they should review the specific remuneration details in the upcoming postal ballot to ensure the hikes are commensurate with the company's financial performance.
Shanti Gold Q3 FY26 Revenue Surges 110% to ₹637 Cr; Announces 4,000 kg Capacity Expansion
Shanti Gold International reported a stellar Q3 FY26 with revenue growing 110% YoY to ₹636.93 crore, driven by strong demand from organized retailers. The company's 9-month revenue of ₹1,359.78 crore has already surpassed the total revenue for the previous full fiscal year. Profitability saw a significant boost, with 9M PAT rising over 200% to ₹108.64 crore. To sustain growth, the company is expanding its manufacturing capacity by 4,000 kg per annum and entering the high-margin Mangalsutra segment.
Key Highlights
Q3 FY26 Revenue grew 110.06% YoY to ₹636.93 crore, while PAT increased to ₹40.08 crore.
9M FY26 volumes reached 1,285 kg, with revenue already exceeding the entire FY25 performance.
Announced a major capacity expansion of 4,000 kg per annum to meet rising demand from organized retail partners.
Credit rating upgraded by CARE Ratings to 'A- (Stable)' from 'BBB+', reflecting an improved financial profile.
Diversifying product portfolio with entry into the Mangalsutra category and a new mass-market product line.
👀 What to Watch
Investors should view the massive capacity expansion and shift towards organized retail as strong growth catalysts. Monitor the execution of the new capacity and the impact of gold price volatility on short-term margins.
Shanti Gold to Invest Rs 4.28 Cr in Golkunda Diamonds via Convertible Warrants
Shanti Gold International Limited has approved a strategic investment of Rs 4.28 Crores in Golkunda Diamonds & Jewellery Limited. The company will acquire 2,00,000 convertible warrants at a price of Rs 214 per warrant through a private placement. Upon full conversion of these warrants into equity, Shanti Gold will hold a 2.42% stake in the target entity. This investment aligns with Shanti Gold's focus on the jewellery sector, where the target company reported a turnover of Rs 252.44 Crores in FY25.
Key Highlights
Investment of Rs 4.28 Crores for 2,00,000 convertible warrants at Rs 214 each.
Post-conversion stake estimated at 2.42% of Golkunda Diamonds' paid-up capital.
Target company Golkunda Diamonds reported a PAT of Rs 11.81 Crores for FY 2024-25.
The acquisition is a cash consideration and does not involve a related party transaction.
Golkunda Diamonds is a listed entity with a consistent turnover exceeding Rs 230 Crores over the last three years.
👀 What to Watch
Investors should view this as a positive capital allocation move into a profitable peer within the jewellery industry. Monitor the conversion of warrants and any potential operational synergies between the two entities.
Shanti Gold Q3 FY26 PAT Surges 128% YoY to ₹40.08 Cr; Revenue More Than Doubles
Shanti Gold reported a stellar Q3 FY26 with revenue jumping 110% YoY to ₹636.93 crore, driven by strong festive demand and a 31% increase in volumes. Profitability saw a significant boost as PAT rose 128% YoY to ₹40.08 crore, supported by a favorable product mix and gold price environment. The company's 9-month performance is equally robust, with PAT growing over 200% to ₹108.64 crore. Additionally, the company is expanding its manufacturing capacity by 4,000 kg to meet rising demand from organized retailers.
Key Highlights
Revenue from operations grew 110.06% YoY to ₹636.93 crore in Q3 FY26
Net Profit (PAT) increased by 127.97% YoY to ₹40.08 crore
Volume growth recorded at 31% YoY and 25% QoQ, reflecting strong market traction
Announced a significant capacity expansion of approximately 4,000 kg to service organized retail
9M FY26 EBITDA margins improved significantly to 11.71% from 7.49% in the previous year
👀 What to Watch
Investors should view the strong volume growth and margin expansion as positive indicators of the company's scaling capabilities in the organized jewellery sector. Monitor the execution of the 4,000 kg capacity expansion as it will be a key driver for future revenue growth.
Shanti Gold Q3 FY26: Revenue Jumps 98% YoY; Jaipur Expansion Underway
Shanti Gold International Limited reported a massive 98% year-on-year revenue surge for Q3 FY26, though net profit growth remained modest at 2%. For the nine-month period (9M FY26), revenue grew by 96% while profits increased by 4%, indicating significant top-line momentum but potential margin pressure. The company is actively expanding its manufacturing footprint with a new facility under construction in Jaipur and is targeting North Indian and export markets. Key financial health indicators include a Return on Equity (ROE) of 19.36% and a Return on Capital Employed (ROCE) of 17.97%.
Key Highlights
Q3 FY26 revenue grew by 98% YoY, while 9M FY26 revenue increased by 96% YoY
Net profit growth lagged behind revenue at 2% for Q3 FY26 and 4% for 9M FY26
Current manufacturing capacity is 2,700 kgs per annum across a 13,448 sq. ft. facility
New manufacturing facility in Jaipur is currently under construction to drive future growth
Maintained healthy financial ratios with ROE at 19.36% and ROCE at 17.97%
👀 What to Watch
Investors should monitor the company's ability to translate high revenue growth into better bottom-line margins as the Jaipur facility comes online. The stock shows strong market demand, but operational efficiency will be key to long-term value creation.
Shanti Gold Q3 FY26 Net Profit Rises 11% QoQ to ₹3.38 Crore; Revenue up 12%
Shanti Gold International reported a steady growth in its financial performance for the quarter ended December 31, 2025. Revenue from operations increased by 11.9% sequentially to ₹202.01 crore compared to ₹180.41 crore in the previous quarter. Net profit for the quarter stood at ₹3.38 crore, reflecting a growth of 10.9% over the ₹3.05 crore reported in Q2 FY26. The company, which listed in August 2025, continues to maintain its growth trajectory in the gold ornament manufacturing and wholesaling segment.
Key Highlights
Revenue from operations grew 11.9% QoQ to ₹202.01 crore in Q3 FY26.
Net Profit increased to ₹3.38 crore from ₹3.05 crore in the preceding quarter.
Total income for the nine months ended December 2025 reached ₹502.38 crore.
Earnings Per Share (EPS) for the quarter stood at ₹0.56 on a face value of ₹10.
Total expenses for the quarter were ₹197.84 crore, with cost of materials being the primary driver.
👀 What to Watch
Investors should monitor the company's ability to maintain margins amidst fluctuating gold prices and competitive pressures in the wholesale market. As a newly listed entity, consistent quarterly performance is a positive sign for long-term stability.
Shanti Gold Q3 FY26 Net Profit Rises 8.6% QoQ to ₹8.44 Crore; Revenue Up 9.2%
Shanti Gold International reported a steady performance for the quarter ended December 31, 2025, with revenue from operations reaching ₹113.67 crore, a 9.2% increase from the previous quarter. Net profit for the period stood at ₹8.44 crore, up from ₹7.77 crore in Q2 FY26. The company, which listed in August 2025, maintains a single-segment focus on gold ornament manufacturing and wholesaling. For the nine-month period, total income reached ₹312.26 crore with a cumulative net profit of ₹23.12 crore.
Key Highlights
Revenue from operations grew 9.2% QoQ to ₹113.67 crore in Q3 FY26
Net profit increased to ₹8.44 crore compared to ₹7.77 crore in the preceding quarter
Earnings Per Share (EPS) improved to ₹1.40 from ₹1.29 in Q2 FY26
Total income for the nine months ended December 2025 stood at ₹312.26 crore
Profit Before Tax (PBT) for the quarter was healthy at ₹11.31 crore
👀 What to Watch
Investors should monitor the company's ability to sustain this growth momentum post-IPO and track gold price volatility which may impact margins. The steady quarter-on-quarter growth is a positive signal for this recent market entrant.
CARE Ratings Assigns 'CARE A-; Stable' to Shanti Gold's ₹223.53 Cr Bank Facilities
CARE Ratings has assigned a 'CARE A-; Stable' rating to Shanti Gold International's long-term bank facilities and 'CARE A2+' to short-term facilities totaling ₹223.53 crore. The company demonstrated strong growth with FY25 revenue reaching ₹1,107.1 crore and H1FY26 revenue at ₹722.85 crore. Following its ₹309 crore IPO in July 2025, the company's capital structure improved significantly, with overall gearing dropping from 1.62x to 0.32x. The ratings reflect the promoters' extensive experience and a diversified client base, though the business remains working capital intensive.
Key Highlights
CARE assigned 'CARE A-; Stable' for ₹2.53 crore long-term and ₹221 crore long/short-term bank facilities.
Overall gearing improved to 0.32x in H1FY26 from 1.62x in FY25, supported by ₹309 crore IPO proceeds.
PBILDT margins strengthened to 14.2% in H1FY26 compared to 8.3% in FY25, aided by inventory gains.
Total Operating Income grew at a 31% CAGR over the last five years, reaching ₹1,107.1 crore in FY25.
Company is investing ₹46 crore in a new Jaipur facility to add 1,200 kg/annum capacity by Q2FY27.
👀 What to Watch
Investors should note the investment-grade rating and significantly improved debt-to-equity ratio as positive indicators of financial stability post-listing. Monitor the company's ability to maintain margins amidst gold price volatility and the timely execution of the Jaipur capacity expansion.
CARE Ratings Assigns 'A-; Stable' Rating to Shanti Gold's ₹223.53 Cr Bank Facilities
CARE Ratings has assigned investment-grade ratings to Shanti Gold International Limited's bank facilities totaling ₹223.53 crore. The long-term facilities received a 'CARE A-; Stable' rating, while the combined long/short-term facilities were assigned 'CARE A-; Stable / CARE A2+'. This initial rating assignment indicates a stable credit profile and provides the company with validated creditworthiness for its significant working capital requirements. The rated facilities include term loans and fund-based/non-fund-based limits from major lenders like HDFC, Yes Bank, and Saraswat Bank.
Key Highlights
Assigned 'CARE A-; Stable' rating for long-term bank facilities of ₹2.53 crore
Assigned 'CARE A-; Stable / CARE A2+' for long-term/short-term facilities of ₹221.00 crore
Total bank facilities covered under the rating exercise amount to ₹223.53 crore
Significant credit lines include ₹124.50 crore from Saraswat Bank and ₹50.00 crore from HDFC Bank
👀 What to Watch
The 'A-' investment-grade rating suggests a healthy credit profile; investors should monitor if this helps the company lower its borrowing costs or secure better terms for future expansions.
Shanti Gold Announces Capacity Expansion of 4,000 Kgs Per Annum
Shanti Gold International Limited has announced a significant capacity expansion of its manufacturing facility by approximately 4,000 kgs per annum. This move is strategically designed to meet the rising demand from organized jewellery retailers and support the company's expanding portfolio of long-term partnerships. The expansion leverages the ongoing structural shift in the Indian market toward organized retail and customized jewellery designs. Currently operating a 13,448 sq. ft. facility in Mumbai, the company aims to enhance its service capabilities for both domestic and international markets.
Key Highlights
Proposed manufacturing capacity expansion of approximately 4,000 kgs per annum.
Strategic alignment with the structural shift towards organized jewellery retail in India.
Expansion aimed at servicing leading retail chains with consistent quality and customized designs.
Current manufacturing infrastructure spans over 13,448 sq. ft. in Mumbai.
Focus on deepening existing relationships and pursuing new strategic partnerships in international markets.
👀 What to Watch
Investors should view this as a positive growth signal indicating strong demand visibility from organized retailers. Monitor the execution timeline and the subsequent impact on the company's top-line growth and market share.
Shanti Gold to Expand Jewellery Capacity by 4,000 kg/annum with ₹8.50 Cr Investment
Shanti Gold International has approved a major capacity expansion of its jewellery manufacturing facility, adding 4,000 kg per annum to its current 2,700 kg capacity. The expansion requires an investment of approximately Rs. 8.50 crore, which the company plans to fund entirely through internal accruals. Targeted for completion by Q2 FY 2026-27, this move will more than double the company's total production potential. The strategy aims to capitalize on the structural shift towards organized jewellery retail in India.
Key Highlights
Proposed addition of 4,000 kg per annum, representing a 148% increase over the current 2,700 kg capacity
Total project cost estimated at Rs. 8.50 crore, to be funded entirely through internal accruals
Expansion project is expected to be completed and operational by Q2 FY 2026-27
Current capacity utilization stands at 68.25%, providing a solid base for the planned scale-up
Strategic focus on catering to organized retail chains and design-led customized jewellery segments
👀 What to Watch
This expansion signals strong management confidence in future demand from organized retail chains and is being funded without debt. Long-term investors should monitor the execution timeline and the company's ability to maintain utilization levels as the new capacity comes online in late 2026.
Shanti Gold Q3 FY26 Update: Revenue Surges 110% YoY, Volumes Up 30%
Shanti Gold International Limited reported an exceptional performance for Q3 FY26, with revenue growing approximately 110% YoY. This growth was driven by a robust 30% increase in sales volumes and elevated gold prices during the quarter. The company benefited significantly from the wedding season demand, particularly in the bridal jewellery segment, and steady B2B orders. For the nine-month period (9M FY26), the company maintained strong momentum with revenue and volume growth of 65% and 12% respectively.
Key Highlights
Q3 FY26 revenue increased by approximately 110% YoY, driven by volume and price tailwinds.
Operational volumes for the quarter grew by over 30% YoY due to strong B2B traction.
9M FY26 revenue grew by over 65% YoY, while volumes saw a 12% increase.
Strong demand in the bridal jewellery segment was a key contributor during the wedding season.
Management remains optimistic about future demand, focusing on design innovation and B2B partnerships.
👀 What to Watch
The significant revenue and volume growth indicate strong market share gains and operational tailwinds; investors should watch the upcoming full financial results for margin performance. The stock remains a high-growth play in the jewellery manufacturing sector given its robust B2B pipeline.
