Shankesh Jewellers bucks market sell-off to zoom 18% as Q1 PAT doubles

Shankesh Jewellers delivered strong financial performance in Q1, with revenue growing 55 per cent Y-o-Y to ₹424 crore. Its PAT stood at ₹43, reflecting an increase of 100 per cent on a Y-o-Y basis.

Shankesh Jewellers share price today:Shares of Shankesh Jewellers defied the market sell-off on Friday, surging as much as 18 per cent to hit a record high after the company reported a 100 per cent Y-o-Y rise jump in Q1FY27 profit.

 

The newly listed stock opened higher at ₹104.40 and extended gains to hit an intraday high of ₹115.90 on the National Stock Exchange (NSE).

 

As of 10 AM, the shares were trading at ₹109, holding on to most of the gains, with more than 35 million shares changing hands.

 

In comparison, the benchmark Nifty 50 index was down 0.8 per cent at 23,280. 

 

Shankesh Jewellers Q1 results

 According to an exchange filing, the company delivered strong financial performance in Q1, with revenue growing 55 per cent Y-o-Y to ₹424 crore. Its profit after tax (PAT) stood at ₹43, reflecting an increase of 100 per cent on a Y-o-Y basis.

 

Ebitda increased by 92 per cent Y-o-Y to ₹61 crore, while Ebitda margin expanded by 279 bps to 14.4 per cent in the quarter under review.

 

The company said that its PAT margin in the June quarter was at 10.2 per cent, up by 230 bps from 7.9 per cent in the same quarter a year ago. The company said that corporate clients contributed 66 per cent to the revenue during Q1, while non-corporate clients accounted for the remaining 34 per cent. CHECK Stock Market LIVE Updates   Shankesh Jewellers stock: Should you buy? 

Market expert Arun Kejriwal said that one should wait for the conference call to understand the inventory position, because in this business, inventory makes a material difference. In the last reported numbers with which the company went public, they had mentioned that around 40 per cent of the profit was attributable to inventory gains.

 

"If we assume that this continues, the kind of profit growth being reported does not look like a doubling. So, one needs to be careful. The sector they operate in (jewellery manufacturing) and the nature of the business, including B2C and B2B operations, make it attractive. However, simply looking at the doubling of profit should not be a reason to buy unless there is clarity on the inventory gains,” he said.

 Shankesh Jewellers IPO details  Shankesh Jewellers made a positive debut on the bourses in the last week of August. The ₹367 crore IPO was subscribed 2.80 times, with the stock listing at ₹103.30 on the NSE, against the issue price of ₹93.

 

Shankesh Jewellers is a Mumbai-based wholesaler of handcrafted gold jewellery. Some of its clientele includes Joyalukkas India, Kalyan Jewellers, PN Gadgil & Sons, and Novel Jewels (Aditya Birla Group). 

 

The company claims that its repeat customers accounted for around 80 per cent of total customers in FY26. 

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