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EARNINGS POSITIVE 7/10
Moksh Ornaments Q3 FY26 Net Profit Rises 14% YoY to ₹2.83 Crore
Moksh Ornaments reported a resilient performance for the quarter ended December 31, 2025, with Net Profit growing to ₹2.83 Crore from ₹2.48 Crore in the same period last year. Although Revenue from Operations saw a marginal year-on-year decline of 1.8% to ₹115.20 Crore, the company improved its profitability margins. Sequentially, the company maintained its profit levels despite a significant drop in revenue from ₹151.70 Crore in Q2 FY26. For the nine-month period, the company has achieved a total income of ₹417.91 Crore and a PAT of ₹8.01 Crore.
Key Highlights
Net Profit for Q3 FY26 increased by 13.9% YoY to ₹283.02 Lakhs compared to ₹248.41 Lakhs in Q3 FY25. Revenue from Operations for the quarter stood at ₹11,520.16 Lakhs, down slightly from ₹11,729.72 Lakhs in the previous year's corresponding quarter. Profit Before Tax (PBT) rose to ₹378.21 Lakhs in Q3 FY26 from ₹331.96 Lakhs in Q3 FY25. Nine-month (9M FY26) Net Profit reached ₹800.65 Lakhs on a total income of ₹41,790.98 Lakhs. The company confirmed no deviations or variations in the utilization of funds raised through its Initial Public Offering (IPO).
💼 Action for Investors Investors should note the company's ability to grow profits despite revenue volatility, suggesting improved operational efficiency. Monitor the sustainability of these margins in upcoming quarters within the competitive jewelry manufacturing segment.
EARNINGS NEUTRAL 7/10
Moksh Ornaments Q3 FY26 Net Profit Rises 14% YoY to ₹2.83 Crore Despite Revenue Dip
Moksh Ornaments reported a standalone net profit of ₹2.83 crore for the quarter ended December 31, 2025, a 14% increase from ₹2.48 crore in the corresponding quarter last year. Revenue from operations saw a marginal year-on-year decline to ₹115.20 crore from ₹117.30 crore, and a significant sequential drop from ₹151.70 crore in Q2 FY26. Despite lower top-line growth, the company maintained profitability through effective expense management. For the nine-month period ending December 2025, the company recorded a net profit of ₹8.01 crore compared to ₹7.13 crore in the previous year.
Key Highlights
Net Profit for Q3 FY26 stood at ₹2.83 crore, up 14% YoY from ₹2.48 crore. Revenue from operations decreased to ₹115.20 crore in Q3 FY26 vs ₹117.30 crore in Q3 FY25. Total expenses for the quarter were ₹111.45 crore, significantly lower than the ₹148.03 crore reported in Q2 FY26. Nine-month (9M FY26) PAT reached ₹8.01 crore, showing steady growth from ₹7.13 crore in 9M FY25. Paid-up equity share capital increased to ₹17.65 crore from ₹10.73 crore in the previous year's quarter, impacting EPS which stood at ₹0.16.
💼 Action for Investors Investors should monitor the reasons behind the sequential revenue decline to determine if it is a seasonal trend or a loss of market share. While margin improvement is positive, the impact of equity dilution on EPS should be factored into valuation models.
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