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LGHL - Laxmi Goldorna

📊 NSE: LGHL 🏢 Construction 📅 Last Updated: 12/14/2025 9:12

📢 Recent Corporate Announcements

LGHL Q3 Net Profit at ₹3.10 Cr; 9M Revenue Grows 29% to ₹77.67 Cr

🟡 NEUTRAL ⭐ 7/10

EARNINGS 📅 23 Feb 2026, 05:51 PM

Laxmi Goldorna House Limited (LGHL) reported a standalone net profit of ₹3.10 crore for the quarter ended December 31, 2025, compared to ₹3.54 crore in the corresponding quarter last year. For the nine-month period, the company showed steady growth with total revenue reaching ₹77.67 crore, up from ₹60.09 crore YoY. The Gold and Jewellery segment remains the dominant revenue contributor, though the Real Estate segment showed significant activity with ₹8.39 crore in quarterly revenue. Investors should note the EPS dilution following an increase in paid-up equity capital to ₹50.09 crore.

Total Revenue for 9M FY26 grew 29.2% YoY to ₹77.67 crore from ₹60.09 crore.
Standalone Net Profit for Q3 FY26 stood at ₹3.10 crore, a 12.4% decline from ₹3.54 crore in Q3 FY25.
Gold and Jewellery segment revenue for the quarter was ₹15.78 crore, while Real Estate contributed ₹8.39 crore.
Finance costs for the nine-month period increased to ₹7.21 crore from ₹5.87 crore YoY.
Paid-up equity share capital rose significantly to ₹50.09 crore from ₹20.87 crore in the previous year.

💡 Monitor the company's margin sustainability in the jewellery business and the delivery timelines of real estate projects. The recent capital expansion has diluted EPS, so focus on whether the new capital effectively drives bottom-line growth in coming quarters.

LGHL Q3 Net Profit Declines 12.4% YoY to ₹3.10 Cr; 9M Revenue Up 29%

🟡 NEUTRAL ⭐ 7/10

EARNINGS 📅 13 Feb 2026, 05:18 PM

Laxmi Goldorna House Limited (LGHL) reported a 9.1% YoY increase in Q3 FY26 revenue to ₹24.18 crore, though net profit for the quarter fell 12.4% to ₹3.10 crore compared to ₹3.54 crore in the previous year. For the nine-month period, the company showed robust growth with revenue rising 29% to ₹77.67 crore and net profit increasing slightly to ₹9.07 crore. The Gold and Jewellery segment remains the dominant revenue contributor at ₹15.78 crore, while the Real Estate segment contributed ₹8.39 crore. A significant increase in paid-up equity capital to ₹50.09 crore has resulted in a diluted EPS of ₹0.62 for the quarter.

Q3 FY26 Revenue from operations grew 9.1% YoY to ₹24.18 crore from ₹22.16 crore.
Net Profit for the quarter decreased to ₹3.10 crore from ₹3.54 crore in Q3 FY25 due to higher expenses.
9M FY26 Revenue reached ₹77.67 crore, marking a 29.2% growth over the ₹60.09 crore reported in 9M FY25.
Gold and Jewellery segment contributed 65% of total revenue, while Real Estate contributed 35% during the quarter.
Paid-up equity share capital increased to ₹50.09 crore from ₹20.87 crore, impacting per-share earnings metrics.

💡 Investors should monitor the margin pressure in the jewellery segment despite revenue growth and evaluate the impact of the expanded equity base on future dividends. The steady growth in the nine-month performance suggests long-term stability, but the quarterly profit dip warrants caution.

LGHL Q3 FY26 Net Profit at ₹3.10 Cr; 9M Revenue Grows 29% YoY to ₹77.67 Cr

🟡 NEUTRAL ⭐ 7/10

EARNINGS 📅 13 Feb 2026, 05:15 PM

Laxmi Goldorna House Limited (LGHL) reported a standalone net profit of ₹3.10 crore for Q3 FY26, a decline from ₹3.54 crore in the corresponding quarter last year. Revenue from operations for the quarter grew 9% YoY to ₹24.18 crore, though it saw a slight sequential dip from Q2 FY26. For the nine-month period ended December 2025, the company showed strong top-line growth of 29% YoY, reaching ₹77.67 crore, while net profit remained relatively flat with a 3% increase. The company also announced a change in its official website to https://www.laxmigroup.co/.

Q3 FY26 revenue from operations stood at ₹24.18 crore, up 9% from ₹22.16 crore in Q3 FY25.
Net profit for the quarter decreased to ₹3.10 crore compared to ₹3.54 crore in the previous year's same quarter.
9M FY26 total income reached ₹77.75 crore, a significant jump from ₹60.10 crore in 9M FY25.
Gold and Jewellery segment contributed ₹15.78 crore to Q3 revenue, while Real Estate contributed ₹8.39 crore.
Paid-up equity share capital increased to ₹50.09 crore from ₹20.87 crore, leading to an EPS dilution to ₹0.62 for the quarter.

💡 Investors should note the strong revenue growth in the nine-month period but remain cautious about the margin pressure and YoY profit decline in the latest quarter. The significant increase in equity capital and subsequent EPS dilution warrants a closer look at recent corporate actions and their long-term impact on ROE.

LGHL Shareholders Approve ₹200 Cr Loan Facility from Promoters

🟢 POSITIVE ⭐ 7/10

FUNDRAISE 📅 09 Feb 2026, 05:06 PM

Laxmi Goldorna House Limited (LGHL) has received shareholder approval via postal ballot for material related party transactions involving promoter loans. The company is authorized to borrow up to ₹100 crore each from Mr. Jayeshkumar Chinulal Shah and Mrs. Rupalben Jayeshkumar Shah during FY 2025-26. These funds are intended to support operational requirements, capital expenditure, and future expansion plans. The resolutions were passed as ordinary resolutions, ensuring the company has access to liquidity at arm's length terms.

Shareholders approved borrowing up to ₹100 crore from Managing Director Jayeshkumar Chinulal Shah.
A separate approval was granted for borrowing up to ₹100 crore from Whole-time Director Rupalben Jayeshkumar Shah.
The transactions are slated for the financial year 2025-26 to fund business expansion and Capex.
Both resolutions were passed with the requisite majority through a remote e-voting process ending February 7, 2026.

💡 Investors should monitor the deployment of these funds into growth projects and check for any impact on the debt-to-equity ratio. Promoter loans are generally a cost-effective way to manage liquidity and signal strong promoter commitment.

Laxmi Goldorna House Submits Q3 FY26 SEBI Reg 74(5) Compliance Certificate

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 22 Jan 2026, 04:43 PM

Laxmi Goldorna House Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. For the quarter ending December 31, 2025, the company's Registrar and Transfer Agent, KFin Technologies, reported zero requests for dematerialization or re-materialization of shares. This filing is a mandatory administrative requirement to confirm the status of security certificates. It indicates that no physical shares were converted to electronic form or vice versa during the three-month period.

Quarterly compliance certificate filed for the period ending December 31, 2025.
KFin Technologies Limited confirmed zero demat or remat requests were processed.
The report covers the three-month period from October 1, 2025, to December 31, 2025.

💡 This is a standard administrative update with no impact on company fundamentals; investors should continue to monitor financial performance.

LGHL Seeks Shareholder Approval for ₹200 Crore Borrowing from Promoters

🔵 WATCH ⭐ 7/10

FUNDRAISE 📅 08 Jan 2026, 08:03 PM

Laxmi Goldorna House Limited (LGHL) has issued a postal ballot notice to seek shareholder approval for material related party transactions involving borrowings from its promoters. The company proposes to avail loans up to ₹100 crore from Mr. Jayeshkumar Chinulal Shah (MD) and another ₹100 crore from Mrs. Rupalben Jayeshkumar Shah (WTD) for the financial year 2025-26. These transactions are intended to be conducted on an arm's length basis to support business operations. The e-voting period for these resolutions is set from January 9, 2026, to February 7, 2026.

Proposed borrowing of up to ₹100 crore from Promoter and MD Mr. Jayeshkumar Chinulal Shah.
Proposed borrowing of up to ₹100 crore from Promoter and WTD Mrs. Rupalben Jayeshkumar Shah.
Total potential related party borrowing limit of ₹200 crore for the financial year 2025-26.
Remote e-voting period scheduled from January 9, 2026, to February 7, 2026.
Record date for determining shareholder voting eligibility was January 2, 2026.

💡 Investors should monitor the specific interest rates and repayment terms of these promoter loans to ensure they are favorable compared to market rates. While promoter funding can provide quick liquidity, the scale of borrowing relative to the company's size warrants a close look at the intended use of funds.

LGHL Appoints Dhaval Parekh as CFO and Approves Promoter Loans via Related Party Transactions

🟡 NEUTRAL ⭐ 6/10

MANAGEMENT 📅 06 Jan 2026, 07:21 PM

Laxmi Goldorna House Limited (LGHL) has appointed Mr. Dhaval Parekh, the current Company Secretary, as the Chief Financial Officer effective January 06, 2026. The board also approved material related party transactions to borrow funds from promoters Mr. Jayeshkumar Chinulal Shah and Mrs. Rupalben Jayeshkumar Shah, subject to shareholder approval. Additionally, M/s. MJV & CO. has been appointed as the internal auditor for the 2025-26 financial year. A postal ballot process has been initiated to seek formal shareholder consent for these financial arrangements.

Mr. Dhaval Parekh appointed as CFO effective January 06, 2026, bringing over 8 years of experience.
Board approved borrowing loans from promoters Mr. Jayeshkumar Chinulal Shah and Mrs. Rupalben Jayeshkumar Shah.
M/s. MJV & CO. appointed as Internal Auditor for FY 2025-26 to oversee financial compliance.
Postal ballot initiated to obtain shareholder approval for material related party transactions.
Mr. Dhaval Parekh will hold the dual responsibility of Company Secretary and Chief Financial Officer.

💡 Investors should review the upcoming postal ballot notice for specific terms of the promoter loans to ensure they are favorable to the company. Monitor the effectiveness of the new CFO in managing the dual role of compliance and finance.

LGHL Appoints New CFO, Internal Auditor and Seeks Approval for Promoter Loans

🔵 WATCH ⭐ 6/10

MANAGEMENT 📅 06 Jan 2026, 07:21 PM

Laxmi Goldorna House Limited (LGHL) announced several key corporate updates following its board meeting on January 6, 2026. The company has appointed Mr. Dhaval Parekh, the current Company Secretary, as the new Chief Financial Officer (CFO). Furthermore, the board approved material related party transactions involving loans from promoters Mr. Jayeshkumar Chinulal Shah and Mrs. Rupalben Jayeshkumar Shah, subject to shareholder approval. M/s. MJV & CO. has also been appointed as the internal auditor for FY 2025-26 to oversee financial compliance.

Appointment of Mr. Dhaval Parekh as Chief Financial Officer (CFO) effective January 6, 2026.
Approval of material related party transactions for borrowing loans from promoters, pending shareholder consent.
Appointment of M/s. MJV & CO. Chartered Accountants as Internal Auditors for the 2025-26 financial year.
Initiation of a Postal Ballot process to seek shareholder approval for the proposed promoter loans.
Mr. Dhaval Parekh brings over 8 years of experience in secretarial matters, accounts, and finance.

💡 Investors should review the upcoming Postal Ballot notice to understand the terms and interest rates of the loans being taken from promoters. The dual role of Mr. Dhaval Parekh as CS and CFO should be monitored to ensure adequate checks and balances in financial reporting.

LGHL Appoints New CFO, Internal Auditor, and Approves Loans from Promoters

🔵 WATCH ⭐ 6/10

BOARD_MEETING 📅 06 Jan 2026, 07:16 PM

Laxmi Goldorna House Limited (LGHL) announced several key management and financial decisions following its board meeting on January 06, 2026. The company has appointed Mr. Dhaval Parekh as the Chief Financial Officer (CFO) and M/s. MJV & CO. as the Internal Auditor for FY 2025-26. Most significantly, the board approved material related party transactions to borrow funds from promoters Mr. Jayeshkumar Chinulal Shah and Mrs. Rupalben Jayeshkumar Shah. These borrowing arrangements are subject to shareholder approval, which will be sought through a postal ballot process.

Appointment of Mr. Dhaval Parekh as Chief Financial Officer (CFO) effective January 06, 2026.
Approval of material related party transactions for borrowing loans from promoters Jayeshkumar and Rupalben Shah.
M/s. MJV & CO. appointed as Internal Auditor for FY 2025-26 to oversee financial compliance.
Postal Ballot process initiated to seek shareholder approval for the proposed promoter loans.
New CFO Dhaval Parekh brings over 8 years of experience in secretarial, accounts, and finance matters.

💡 Investors should review the upcoming postal ballot notice to understand the specific terms and interest rates of the loans being taken from promoters. While promoter funding can provide liquidity, it is essential to ensure the transactions are conducted on an arm's length basis.

Laxmi Goldorna House Limited: Trading Window Closure from Jan 1, 2026 for Q3 Results

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 26 Dec 2025, 05:12 PM

Laxmi Goldorna House Limited (LGHL) has announced the closure of its trading window starting January 1, 2026, in compliance with SEBI Insider Trading regulations. This closure is ahead of the board's consideration of the unaudited financial results for the quarter ending December 31, 2025. The restriction applies to all directors, promoters, and designated personnel until 48 hours after the results are officially declared. The specific date for the board meeting to approve these results will be communicated at a later time.

Trading window closure effective from January 1, 2026
Closure pertains to the Unaudited Financial Results for the quarter ended December 31, 2025
Window to remain closed until 48 hours after the declaration of financial results
Restriction applies to Directors, Promoters, and Senior Management Personnel

💡 This is a routine regulatory announcement with no direct impact on the company's fundamentals. Investors should monitor for the upcoming board meeting date to track the release of Q3 financial performance.

View All LGHL Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Total revenue declined by 56.45% YoY, falling from INR 202.08 Cr in FY24 to INR 88.01 Cr in FY25. Segment-wise, Gold and Jewellery contributed INR 62.45 Cr (71% of total) while Real Estate contributed INR 25.36 Cr (29% of total).

Geographic Revenue Split

Operations are primarily concentrated in Ahmedabad, Gujarat, which accounts for approximately 100% of the revenue base across both real estate and jewellery segments.

Profitability Margins

Net Profit Ratio significantly improved from 4.69% in FY24 to 12.02% in FY25, a relative increase of 156.3%. This was driven by the Real Estate segment's high profitability, which generated a Profit Before Tax (PBT) of INR 19.77 Cr on revenue of INR 25.36 Cr (77.9% margin), compared to the Gold segment's PBT of INR 2.68 Cr on INR 62.45 Cr revenue (4.3% margin).

EBITDA Margin

Not explicitly disclosed as a standalone EBITDA figure, but PBT margin improved from 6.43% (INR 13.00 Cr) in FY24 to 15.82% (INR 13.92 Cr) in FY25, representing a 146% improvement in core operational profitability despite lower volumes.

Capital Expenditure

The company maintains significant capital employed in Real Estate (INR 19.59 Cr) and Gold (INR 45.45 Cr). Recent cash flow statements indicate a net purchase of Property, Plant, and Equipment of INR 0.36 Cr in the period ending September 2025.

Credit Rating & Borrowing

CRISIL maintains a 'Stable' outlook. Total debt stands at approximately INR 101 Cr against total assets of INR 270-280 Cr (36% debt-to-asset ratio). Bank limit utilization for the gold business was high at 90% for the 12 months ended March 2025.

⚙️ Operational Drivers

Raw Materials

Gold and precious metals (primary for jewellery) and construction materials like cement and steel (for real estate). Gold accounts for over 90% of the input cost for the jewellery segment.

Import Sources

Sourced primarily from domestic suppliers in Gujarat and through bank-led gold procurement channels.

Key Suppliers

Not specifically named, but procurement is managed through established wholesale channels in the Ahmedabad market.

Capacity Expansion

The company is expanding its real estate pipeline with a focus on ongoing projects in Ahmedabad. It has a moderate unsold inventory of previous projects valued at approximately INR 61 Cr.

Raw Material Costs

Raw material costs are highly sensitive to global gold prices. The company's inventory holding strategy exposes it to price fluctuations which can impact the 4.3% PBT margin in the gold segment.

Manufacturing Efficiency

The company demonstrates high efficiency in real estate, completing several projects without term loans by utilizing promoter backing and internal accruals.

Logistics & Distribution

Distribution is primarily through the retail and wholesale showroom located at Laxmi House, Manekchowk, Ahmedabad.

📈 Strategic Growth

Expected Growth Rate

15-20%

Growth Strategy

Growth will be driven by a significant launch pipeline in the real estate segment and increasing the scale of operations in the gold segment. The company recently increased its authorized share capital to INR 45.01 Cr to support potential equity-linked funding for expansion.

Products & Services

Wholesale and retail gold jewellery, ornaments, and residential/commercial real estate development projects.

Brand Portfolio

Laxmi Goldorna, Laxmi Group.

New Products/Services

New real estate project launches are expected to contribute significantly to the revenue mix, shifting the focus toward higher-margin property development.

Market Expansion

Focus remains on deepening the market share within the Ahmedabad region before expanding to other Gujarat territories.

Market Share & Ranking

The company is a prominent local player in the Ahmedabad unorganized and semi-organized jewellery market.

Strategic Alliances

The company operates primarily through the 'Laxmi Group' umbrella, utilizing group synergies for real estate development.

🌍 External Factors

Industry Trends

The jewellery industry is shifting toward organized retail, while the Indian real estate sector is experiencing a cyclical upturn with a preference for trusted developers.

Competitive Landscape

Faces intense competition from both large organized players (like Titan/Tanishq) and numerous local unorganized jewellers in Ahmedabad.

Competitive Moat

The primary moat is the 'Laxmi' brand's 10-year track record in real estate and the promoters' 20-year experience in jewellery. This provides a 'trust premium' that aids in securing customer advances.

Macro Economic Sensitivity

Highly sensitive to interest rate cycles (affecting home loan affordability) and GDP growth (affecting discretionary spending on gold).

Consumer Behavior

Shift toward hallmarked jewellery and branded real estate projects with modern amenities.

Geopolitical Risks

Global geopolitical tensions affecting gold prices directly impact the valuation of the company's jewellery inventory.

⚖️ Regulatory & Governance

Industry Regulations

Operations are governed by RERA (Real Estate Regulatory Authority) for property projects and mandatory hallmarking regulations for the jewellery business.

Environmental Compliance

Real estate projects are subject to RERA and local municipal environmental norms; no specific ESG cost was disclosed.

Taxation Policy Impact

The effective tax rate for FY25 was approximately 24% (Current Tax of INR 3.31 Cr on PBT of INR 13.92 Cr).

Legal Contingencies

No major pending litigation or court cases with significant INR values were disclosed in the provided documents.

⚠️ Risk Analysis

Key Uncertainties

The primary uncertainty is the saleability of ongoing real estate projects; a 20% delay in sales could lead to a liquidity crunch given the 90% bank limit utilization.